Diamonds and Dogs
Corning (GLW) shining brightly. The gorilla glass maker is up 10% following better than expected earnings as sales rose 15.1% to $3.04 billion. Besides sell glass for Apple iphones, Corning's optical communications division saw sales surge 26% to $1.17 billion in the fourth quarter, as the company secured more contracts from companies upgrading their networks. The division is on track to surpass its 2020 sales goal of $5 billion as companies upgrade and build for the high-speed next-generation 5G network, driving up demand for optical fiber. Corning expects to continue their momentum through 2019.
GameStop (GME) can't find a suitor. The video game retailer is down 26% to a new 52 week low after ending its bid to sell itself as it was unable to negotiate a sale with anyone. GameStop announced their exploration to sell back in June of last year. The company's stock has long been stuck in a downward trend since the end of 2015. The video game industry and other industries have suffered as millions of kids and young adults flock to the free game juggernaut which is, Fortnite. Fortnite generated more than a billion dollars in revenue last year entirely from in-game purchases which give no competitive advantage to the gamer. Fortnite made more money last year than several of last year's highest worldwide-grossing blockbuster films, including "Jumanji: Welcome to the Jungle," Marvel Studios' "Spider-Man: Homecoming," and "Wonder Woman;" and more than double the gross worldwide earnings of the latest Star Wars flick, "Solo."
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