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Corning Inc.

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Corning is a worldwide provider of connectivity solutions. The company has been supplementing its portfolio with various acquisitions. Most recently, the company announced that it has agreed to take over 3M Company’s Communication Markets Division for $900 million. Corning is benefiting from robust performance in the company’s Optical Communications and Specialty Materials business lines. Moreover, strong demand for Gorilla Glass 5 (GG5) and its fiber optics products is a key catalyst. Moreover, the company remains focused on expanding its footprint in the automotive market driven by gas particulate filters (GPFs) and a Gorilla-sized automotive glass business. Further, aggressive share buyback in accordance with the strategy & capital allocation framework will also boost bottom line growth. On a year-to-date basis, the stock has outperformed the industry it belongs to. However, weakness in the Display segment remains a headwind.

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