Corning Shares Jump Over 5.5% as AT&T Unveils $250B Connectivity Plan
Corning shares rose 5.56% to close at $136.22 and gained 0.68% to $137.15 in after-hours trading following AT&T’s announcement of a $250 billion U.S. connectivity investment. Corning is positioned as a key supplier under its multi-year fiber and connectivity deal with AT&T signed in 2024.
1. Stock Reaction
Corning shares closed the regular session up 5.56% at $136.22 and gained 0.68% to $137.15 in after-hours trading, reflecting a significant intraday rally.
2. AT&T's $250 Billion Connectivity Investment
AT&T announced a $250 billion commitment to expand U.S. fiber and 5G networks, citing a supportive regulatory environment. As a major supplier, Corning stands to benefit directly from increased orders for glass fiber and cables.
3. Strategic Supplier Agreements
In 2024 Corning entered a multi-year purchase agreement with AT&T to supply next-generation fiber and connectivity solutions. The company also secured a deal worth up to $6 billion with Meta for optical fiber and cabling in advanced data centers.
4. Trading and Technical Metrics
Corning has a market capitalization of $116.87 billion, a 52-week range of $37.31 to $162.10 and an RSI of 53.23. Over the past 12 months, shares have gained 202.64%, placing momentum in the 96th percentile.