Corporate Sustainability Intern

NYPA awards back $89 million in western and northern New York projects. * September 30, 2026 3:49 AM * Staff Report The New York Power Authority approved hydropower and funding awards expected to support nearly $89 million in private capital investment in western and northern New York, according to a Tuesday announcement from Gov. Kathy Hochul. The projects include transformer manufacturing in Cheektowaga and a ceramic manufacturing conversion by Corning Inc. in the North Country. The largest project is Niagara Power Transformer's more than $71 million Cheektowaga expansion. NYPA approved $4.5 million from its Western New York Power Proceeds program for the initiative, which the state says would add 96,000 square feet to the company's manufacturing campus and increase production capacity by 50%. The company projects 73 new permanent jobs and retention of 146 existing jobs. Western New York manufacturers receive power and funding. The power authority also allocated 210 kilowatts of low-cost Niagara hydropower to Sigma Advanced Materials, an advanced ceramics manufacturer in Cheektowaga. The allocation supports a $238,000 equipment and processing expansion. Unlike a direct grant, a hydropower allocation provides access to a lower-cost electricity supply under the program's terms. In Lockport, cabinetry manufacturer Candlelight Curated received a $1 million funding award toward a $4.25 million rehabilitation of a 200,000-square-foot industrial facility. The work includes production equipment and workflow upgrades. State officials say the project would restore 70 jobs; that is a projection, not a reported count of jobs already returned. The Jacobs Institute, a nonprofit medical technology center on the Buffalo Niagara Medical Campus, received $658,503 for facilities modernization and expansion. The institute plans to increase clinical training and research capacity and improve its ability to commercialize medical technologies. Together, the three Western New York Power Proceeds awards total nearly $6.2 million. The governor's release says the western projects will drive nearly $79 million in investment and create nearly 150 jobs. Most of that anticipated spending and job growth is associated with the Cheektowaga transformer expansion. Geographic Reference Discover more advertising Headline News Feed Geographic Reference Empire State Development previously approved performance-based tax credits of up to $3.4 million for Niagara Power Transformer and up to $2 million for Candlelight Curated, as well as a $1 million capital grant for the Jacobs Institute. Those earlier awards are separate from the new NYPA decisions and are contingent on their respective program conditions. Corning Inc. warehouse conversion planned in North Country. NYPA also approved $1.8 million in Northern New York Power Proceeds funding for Corning Inc. to convert an existing warehouse into a ceramic manufacturing facility. The state said that project would retain 344 jobs and create five more. The announcement identifies the project as being in the North Country but does not specify the warehouse's municipality or county; Corning Inc.'s name does not establish that it is in the Finger Lakes city of Corning. The state said Empire State Development had previously supported Corning Inc.'s growth with up to $7 million in performance-based Excelsior Jobs Program tax credits. The release did not give a construction schedule, total project cost or date when the new jobs would be filled. NYPA's Power Proceeds funds draw on net earnings from sales of unused hydropower generated at the Niagara and St. Lawrence-FDR power projects. The Western New York and Northern New York funds were created under separate state laws in 2012 and 2014, respectively. The allocations and awards have been approved by NYPA's board, but the projected investments and employment effects remain future commitments. The projects named in the announcement are in western and northern New York; the release identifies no Finger Lakes project receiving one of these awards. Central New York FingerLakes1.com is the region's leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].

LITE stock climbs as Citi targets AI optics boom. BRYCE TUOHEY - UPDATED SEP. 29, 2026, 4:47 PM ET Lumentum Holdings Inc. stocks have been trading up by 6.26 percent following upbeat sentiment on its latest earnings outlook. Key takeaways. * Citigroup raised its price target on Lumentum Holdings from $1,200 to $1,400 and kept a Buy rating, backing a broader Buy consensus near $1,148.76. * Citi flagged a multi-year, $11B optical circuit switch market for AI optics where LITE and peers like Coherent are key players. * Lumentum is teaming with Qualcomm and Corning on a high-density optical die-to-die interconnect delivering about 10 Tb/s for AI scale-up systems. * Shares of Lumentum, Qualcomm, and Corning traded higher after the ECOC 2026 AI interconnect demo plan was announced. * Insider Yuen Wupen sold several 1,500-share blocks during 2026/09 but still holds more than 110,000 LITE shares. Live Update At 16:46:36 EDT: On Tuesday, September 29, 2026 Lumentum Holdings Inc. stock [NASDAQ: LITE] is trending up by 6.26%! Discover the key drivers behind this movement as well as its expert analysis in the detailed breakdown below. Quick financial overview. Lumentum Holdings Inc. has been trading like a high-beta AI optics proxy. Over the last few weeks, LITE has bounced between about $835 and just over $1,000, with the most recent close near $973 after an intraday range of $934.51 to $998.88. That's a strong rebound from mid-month lows in the mid-$830s, and it tells traders that dip buyers are still active on this AI name. Intraday, LITE's 5-minute chart shows steady accumulation rather than a one-and-done spike. After an early swing down from near $996 to around $970, the stock spent much of the session grinding between $965 and $980, closing in the upper part of the day's range. For short-term traders, that pattern signals support holding and momentum building. Fundamentally, Lumentum's numbers are messy but explain the high-octane chart. Quarterly revenue sits around $1.01B, with a solid 41.7% gross margin. But huge special charges drove a net loss of about $7.16B, leaving margins deeply negative and returns on equity and assets sharply below zero. Despite that, LITE holds roughly $2.04B in cash, a current ratio of 1.7, and modest long-term debt, giving the company runway to chase the AI optics build-out while traders focus on future growth over current earnings. Why traders are watching LITE's AI optics story. Lumentum Holdings is not trading on last quarter's loss. LITE is trading on the AI optics story, and that story just got louder. Citigroup raised its Lumentum price target from $1,200 to $1,400 and reiterated a Buy rating, while the Street's average target sits near $1,148.76 with a Buy tilt. When a big desk like Citi moves that aggressively, it tells traders large institutions are willing to model a much richer future for LITE. The driver is clear: a multi-year growth runway in optical circuit switches for AI optics and an estimated $11B addressable market shared with names like Coherent. On the technology side, Lumentum is working to justify that optimism. LITE is partnering with Qualcomm and Corning on a high-density optical die-to-die interconnect aimed at AI scale-up systems. Using its 1,060 nm VCSEL platform, Lumentum targets roughly 10 Tb/s of aggregate capacity and a roadmap to very high shoreline bandwidth density. Translation for traders: this is plumbing for next-generation AI chips and accelerators, lined up with where hyperscale data centers want to go. The market liked it. After the ECOC 2026 demo announcement, shares of Lumentum, Qualcomm, and Corning all traded higher pre-market, confirming that traders are treating this as a real AI infrastructure catalyst, not just marketing noise. LITE also laid out plans for an eight-wavelength DWDM External Laser Small Form Factor Pluggable module for optical compute interconnects, with initial availability planned for 1H 2027. That product keeps Lumentum in the co-packaged and near-packaged optics conversation and extends its AI-ready pipeline. There is some insider selling noise. Yuen Wupen, President of Global Business Units, sold 1,500 LITE shares in several September 2026 trades, each around $1.3M-$1.4M, but still holds well over 110,000 shares. For traders, that looks like routine diversification rather than a conviction collapse, especially against the backdrop of bullish analyst calls and AI-focused product momentum. Conclusion. For active traders, Lumentum Holdings is a classic story of ugly current earnings wrapped in a strong future narrative. LITE's income statement is weighed down by massive special charges, driving margins and returns deep into the red. Yet the balance sheet carries about $2.04B in cash, manageable leverage, and enough liquidity to keep funding R&D in AI optics. That's why the tape and the headlines matter more than trailing EPS right now. Citi's price-target hike to $1,400 and the $11B AI optics market call push LITE firmly into the "institutional growth" bucket. At the same time, the ECOC 2026 die-to-die interconnect demo with Qualcomm and Corning, plus the planned 1H 2027 ELSFP launch, give traders concrete catalysts to track on the calendar. The recent price action - higher lows, resistance near $1,000, and strong intraday support - shows the market is already leaning into that story. Still, disciplined traders will not ignore risk. The insider sales, while small versus total holdings, are worth logging. So are the extreme valuation ratios like price-to-sales and price-to-free-cash-flow, which leave little room for execution mistakes. In this kind of high-expectation, headline-driven environment, the ability to sit tight and wait for ideal entries and exits becomes crucial for trading success. As millionaire penny stock trader and teacher Tim Sykes, says, "Preparation plus patience leads to big profits." That mindset applies directly here: doing the homework on LITE's catalysts and then waiting for the best risk-reward setups can make the difference between chasing and trading with an edge. As Tim Sykes likes to say, "Patterns repeat, but you still have to respect risk every single trade." LITE's pattern right now is strong AI hype backed by real partnerships and bullish analysts. Whether traders ride the momentum or sit on the sidelines, this remains a high-volatility education case in how Wall Street prices future growth long before the profits hit the bottom line. This is stock news, not investment advice. Timothy Sykes News delivers real-time stock market news focused on key catalysts driving short-term price movements. Its content is tailored for active traders and investors seeking to capitalize on rapid price fluctuations, particularly in volatile sectors like penny stocks. Readers come to Millionaire Media, LLC. for detailed coverage on earnings reports, mergers, FDA approvals, new contracts, and unusual trading volumes that can trigger significant short-term price action. Some users utilize its news to explain sudden stock movements, while others rely on it for diligent research into potential investment opportunities. Dive deeper into the world of trading with Timothy Sykes, renowned for his expertise in penny stocks. Explore his top picks and discover the strategies that have propelled him to success with these articles: Once you've got some stocks on watch, elevate your trading game with StocksToTrade the ultimate platform for traders. 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AT&T has signed a multi-year supply agreement with Corning valued at more than $3 billion. Under the deal, Corning will provide fiber and cable to support AT&T's goal of reaching 60 million fiber locations by the end of 2030. AT&T said the typical household on its fiber network now consumes over a terabyte of data monthly, five times more than in 2016. The company projects consumption will rise to between 2 and 2.5 terabytes per month by 2030. Corning will produce the fiber at US facilities, including operations in North Carolina. The deal follows similar agreements Corning has struck with Amazon, Nvidia, and Meta. Corning's Optical Communications segment posted net sales of $2.07 billion in the second quarter, up 32% year-on-year.