Crispr Therapeutics shares tumble after significant earnings miss
Edward A. Schlesinger, Executive Vice President and CFO of Corning Inc . (NYSE:GLW), recently sold a portion of his holdings in the company. According to a recent SEC filing, Schlesinger sold 4,137 shares of Corning’s common stock on February 19, 2025. The shares were sold at an average price of $52.82, amounting to a total transaction value of $218,518. Following this sale, Schlesinger retains ownership of 76,674 shares directly. The transaction comes as Corning’s stock has delivered an impressive 65.56% return over the past year, trading near its 52-week high of $55.33.
Corning, a leader in materials science and manufacturing with a market capitalization of $44.14 billion, remains a significant player in the industry, and transactions by its executives are closely watched by investors. The company has maintained dividend payments for 19 consecutive years, currently yielding 2.16%. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with 8 additional exclusive insights available to subscribers.
In other recent news, Corning Incorporated announced its fourth-quarter 2024 earnings, reporting an earnings per share (EPS) of $0.57, which exceeded the forecast of $0.56. However, the company’s revenue fell short, coming in at $3.5 billion against an expected $3.75 billion. Despite the revenue miss, Corning’s optical communications segment showed significant growth, contributing to the overall positive market reaction. Additionally, Corning declared a quarterly dividend of $0.28 per share, maintaining its commitment to returning capital to shareholders. In a strategic move, Airspan Networks Holdings LLC has agreed to acquire Corning’s wireless business unit, including its distributed antenna systems and small cell radio access network products. This acquisition is expected to enhance Airspan’s position in the in-building connectivity sector. Furthermore, Corning has expressed optimism about its future operating performance, though it acknowledges potential risks such as global economic conditions and supply chain disruptions.
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