Corning, Xerox gain ground, Harley-Davidson sinks
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday:
Pfizer Inc., up $1.24 to $40.77
The world's largest drugmaker reported mixed fourth-quarter results that topped forecasts, but gave a weak outlook.
Harley-Davidson Inc., down $1.85 to $34.76
The motorcycle maker reported lackluster fourth-quarter results, with sales and shipments falling.
Corning: 3Q Earnings Snapshot
CORNING, N.Y. (AP) _ Corning Inc. (GLW) on Tuesday reported third-quarter profit of $625 million.
The Corning, New York-based company said it had profit of 67 cents per share. Earnings, adjusted for non-recurring gains, came to 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
Corning: 2Q Earnings Snapshot
CORNING, N.Y. (AP) _ Corning Inc. (GLW) on Wednesday reported second-quarter net income of $738 million.
On a per-share basis, the Corning, New York-based company said it had net income of 78 cents. Earnings, adjusted for non-recurring gains, came to 38 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
Apple has its investment shoes on this week
SHERMAN, Texas (AP) — Apple has made its second notable investment this week, the latest into the facial recognition technology company, Finisar.
The $390 million investment announced Wednesday comes from Apple's $1 billion Advanced Manufacturing Fund, created to finance the work of domestic manufacturers and create jobs in the U.S.
Apple announced the creation of the fund in May and plowed $200 million into Corning Inc., the maker of the Gorilla Glass that is used in Apple's touchscreens.
3M will sell Corning its optical-fiber telecom business for $900 million
3M Co. will sell its optical fiber and copper connectivity business to Corning Inc. for $900 million, company officials announced Monday.
The Maplewood-based giant said its Communications Markets Division, which caters to the telecommunications industry, generates about $400 million in annual revenue but is no longer seen as a core business.
New York-based glass producer Corning Inc. says it has no immediate plans for the huge shuttered Hynix computer-chip plant it recently bought in west Eugene.
But state and local economic development officials have been working hard on a top-secret plan for Eugene’s largest manufacturing site. The plan could involve lucrative enterprise zone property tax waivers for Corning, if the company spends heavily to remodel and equip the plant.
Corning buys long-shuttered plant in Eugene, Oregon
EUGENE, Ore. (AP) — Corning Inc. has been revealed as the winner bidder in the recent auction of the former Hynix computer chip plant in Eugene.
The Register-Guard reports a deed filed this week in Lane County shows Corning subsidiary Damon Enterprises paid $13.39 million for the shuttered 1.2 million-square-foot plant.
New York-based Corning Inc. is the mystery buyer of the former Hynix computer chip plant in west Eugene, a Corning spokesman said Tuesday.
Corning subsidiary Damon Enterprises LLC. paid $13.39 million to Avago Technologies Wireless Manufacturing Inc., also known as Broadcom, for the shuttered 1.2 million-square-foot plant on 300 acres, according to a deed filed Monday with Lane County.
Corning Inc. (NYSE: GLW) and its Corning Optical Communications subsidiary plan to invest $176 million in facilities in Catawba and Cabarrus counties, creating 410 jobs over the next two years, officials said Monday.
The company will invest $67 million in a new optical cable manufacturing plant in Newton and $109 million to expand its existing optical fiber plant in Midland.
Corning Optical plans to add 205 jobs in 2 expansions
HICKORY, N.C. (AP) — Corning Optical Communications plans to add 205 jobs over the next five years at its facilities in Hickory and Winston-Salem.
North Carolina officials announced Monday the company plans to invest nearly $83.5 million.
Corning Optical provides fiber optic communications for voice, data and video networks. Its parent company is Corning Inc. The company already employs more than 3,000 people across North Carolina.
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