Corning Increases Sales Forecast, Joins Morphic Holding, Lucid Group And Other Big Stocks Moving Higher On Monday

U.S. stocks were higher, with the Dow Jones index surging around 200 points on Monday.

Shares of Corning Incorporated GLW rose sharply during Monday's session after the company increased its second-quarter core sales guidance.

The company said it now projects core sales to be approximately $3.6 billion (vs. consensus of $3.41 billion), an increase from the previous guidance of $3.4 billion. Core EPS is expected to reach the high end of, or slightly exceed, the management's guided range of $0.42 to $0.46 (vs. estimate of $0.45).

Corning shares jumped 9.4% to $42.05 on Monday.

Here are some other big stocks recording gains in today’s session.

• Morphic Holding, Inc. MORF shares gained 75% to $55.72 after Eli Lilly agreed to buy the company for $57 per share in cash.
• Nikola Corporation NKLA shares climbed 18.5% to $10.65.
• Grifols, S.A. GRFS rose 17.2% to $8.24 after Brookfield confirmed it held exploratory discussions with certain shareholders of the company in relation to a potential joint offer for Grifols’ shares.
• Pulse Biosciences, Inc. PLSE jumped 17.2% to $14.13 after the company announced it received the Breakthrough Device Designation from the FDA for its Cardiac Surgery System for the ablation of cardiac tissue for the treatment of atrial fibrillation.
• Newegg Commerce, Inc. NEGG gained 16% to $1.23. Newegg Commerce said the Presale for its tenth annual FantasTech Sales event is now live.
• NANO Nuclear Energy Inc. NNE shares rose 12.3% to $31.89 after surging 20% on Friday.
• IDEAYA Biosciences, Inc. IDYA shares climbed 12.1% to $38.41 after the company announced interim Phase 2 monotherapy expansion data for IDE397 in MTAP-deletion urothelial and lung cancer. Additionally, Mizuho initiated coverage on the stock with an Outperform rating.
• Absci Corporation ABSI rose 12% to $3.55.
• SolarEdge Technologies, Inc. SEDG gained 11.3% to $27.88 after B of A Securities upgraded the stock from Underperform to Neutral.
• Polestar Automotive Holding UK PLC PSNY rose 11% to $1.08.
• Super Micro Computer, Inc. SMCI gained 6.5% to $902.31.
• Fluence Energy, Inc. FLNC gained 6.2% to $17.61.
• Lucid Group, Inc. LCID climbed 4.7% to $3.06 after the company reported second-quarter production and deliveries.
• Tandem Diabetes Care, Inc. TNDM rose 4.7% to $42.33.
• Paramount Global PARAA climbed 4.6% to $21.41. Paramount Global and Skydance Media inked a definitive agreement to create a new entity, "New Paramount," in a $28 billion merger deal.
• Intel Corporation INTC rose 3.8% to $33.26. Intel has bypassed Vietnam for a substantial investment project, citing insufficient investment incentives.
• Rivian Automotive, Inc. RIVN gained 3.8% to $15.35.

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