Why Corning's Shares Jumped 19.7% in July

Shares of Corning (NYSE: GLW) jumped 19.7% in July 2020, according to data provided by S&P Global Market Intelligence, as the company made some important announcements and released second-quarter earnings.

The biggest announcement was that the Biomedical Advanced Research and Development Authority, part of the U.S. Department of Health and Human Services, is making a $204 million payment to Corning as part of Operation Warp Speed. Corning will use the funds to expand domestic manufacturing for Corning Valor Glass vials to support vaccine manufacturing. According to the release announcing the agreement, Corning said that the company's vials can be filled as much as 50% faster than traditional vials and are up to 10 times stronger.

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Source Fool.com