Corning (GLW) Climbs 6.87% on Rare Earths Devt Support

We recently published 10 Big Names Already Crushing This February. Corning Inc. (NYSE:GLW) was one of the top performers on Monday.

Corning rallied for a second day on Monday, jumping 6.87 percent to close at $110.35 apiece, as investors bet on President Donald Trump’s $12 billion rare earths stockpile project as a huge catalyst for the company’s sustained expansion.

Called the Project Vault, the US would create a stockpile of rare earth minerals critical to the production of various industries such as semiconductors, automotive, gadgets, batteries, electric cars, and military applications, among others.

Under the project, companies that have pledged to buy materials at a specific inventory will pay upfront fees and provide Project Vault a list of their preferred materials, and they will also agree to repurchase the same amount at the same price in the future.

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According to a report by Bloomberg, Corning Inc. (NYSE:GLW) alongside companies such as General Motors, Stellantis, Boeing, GE Vernova, and Google, has already signed up for the project.

The news followed Corning Inc.’s (NYSE:GLW) $6 billion deal with Meta Platforms Inc. last week, under which it would supply the latter with fiber optic cables for its data centers.

Also last week,Corning Inc. (NYSE:GLW) reported a 215 percent jump in its attributable net income at $1.596 billion, versus $506 million in the same period last year. Net sales jumped by 19 percent to $15.6 billion from $13.1 billion year-on-year.

In the first quarter of 2026, the company is looking to register a 15 percent jump in core sales at $4.2 billion to $4.3 billion.

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Disclosure: None. This article is originally published at Insider Monkey.