News Summary
NegativeCorning delivered strong Q2 fundamentals with 17% sales growth and 30% EPS growth driven by robust AI/optical-communications demand and major multi-billion-dollar deals with Meta, Amazon, and NVIDIA. However, the stock plunged 15-16% post-earnings despite the beat due to Q3 guidance that disappointed expectations and margin concerns, compounded by insider selling of $54.1M and analyst price target cuts from $162 to $137.
Red flags
- •Q3 guidance fell materially short of market expectations despite Q2 beat, triggering 15-16% pre-market sell-off
- •Analyst price targets cut 15% ($162 to $137) citing margin compression and lower forward P/E expectations
- •Insider share sales totaling $54.1M in June signaling reduced confidence at higher valuations
- •Stock volatility with sharp single-day declines (7.90%, 4.31%) reflecting valuation and near-term growth concerns despite long-term upside
Funds Reducing / Exiting (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Point72 | Steve Cohen | 21K | -261,592 | $5M | 0.2% | -93% | Existing |
| Maverick Capital | Lee Ainslie | 5K | -371,132 | $1M | 0.6% | -99% | Existing |
| Appaloosa LP | David Tepper | 0 | −1.1M | — | 2.6% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | SHORT | 3 | 2.63 | -42.8% |
| Q1 2026 | LONG | 3 | 4.06 | +2.6% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Vanguard Capital Management | SC 13G | 58.2M | 6.8% | 2026-04-29 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Alan Armstrong | senate | — | SELL | $100,001 - $250,000 | 2026-03-27 | 2026-07-21 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.