Corning Inc. Stock Outperforms Competitors Despite Losses On The Day

North European Oil Royalty Trust

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Energy : Oil, Gas & Consumable Fuels | Small Cap Growth

Company profile

North European Oil Royalty Trust (the Trust) is a grantor trust which, on behalf of the owners of units of beneficial interest in the Trust (the unit owners), holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The rights are held under contracts with local German exploration and development subsidiaries of ExxonMobil Corp. (ExxonMobil) and the Royal Dutch/Shell Group of Companies (Royal Dutch/Shell Group). Under these contracts, the Trust receives various percentage royalties on the proceeds of the sales of certain products from the areas involved. Its royalties are received for sales of gas well gas, oil well gas, crude oil, condensate and sulfur. The Trust conducts no active business operations and is restricted to collection of income from royalty rights and distribution to unit owners of the net income after payment of administrative and related expenses.

Corning Inc. Stock Outperforms Competitors Despite Losses On The Day

4:57 pm ET February 24, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Corning Inc. (GLW) slipped 1.12% to $34.31 Friday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 1.05% to 3,970.04 and Dow Jones Industrial Average falling 1.02% to 32,816.92. Corning Inc. closed $6.89 short of its 52-week high ($41.20), which the company reached on February 25th.

Despite its losses, the stock outperformed some of its competitors Friday, as Thermo Fisher Scientific Inc. (TMO) fell 1.48% to $542.79 and Danaher Corp. (DHR) fell 1.34% to $249.12. Trading volume (3.2 M) remained 1.1 million below its 50-day average volume of 4.3 M.

Data source: Dow Jones Market Data, FactSet. Data compiled February 24, 2023.

(END) Dow Jones Newswires

February 24, 2023 16:57 ET (21:57 GMT)