BUZZ-Corning shares rise on Nvidia factory funding
NVIDIA Corporation
Corning Inc
NVIDIA Corporation NVDA | 0.00 | |
Corning Inc GLW | 0.00 |
** Corning Inc GLW shares advance 2.2% to $186.37 premarket
** Nvidia NVDA.O said it made a multi-billion dollar prepayment to help fund new factories for the glassmaker
** The funding is in addition to a previously disclosed equity investment of up to $3.2 billion and is expected to increase U.S. production capacity by a factor of 10, creating thousands of jobs
** The median price target among 17 analysts covering GLW is $190, with an average rating of "buy", per LSEG data
** GLW stock has more than doubled in value this year, significantly outperforming the S&P 500's .SPX 7.2% rise
