Corning Inc (GLW): Today's Featured Technology Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Corning ( GLW) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.4%. By the end of trading, Corning fell $0.20 (-1.3%) to $14.82 on average volume. Throughout the day, 13,560,707 shares of Corning exchanged hands as compared to its average daily volume of 12,084,500 shares. The stock ranged in price between $14.54-$15.00 after having opened the day at $14.95 as compared to the previous trading day's close of $15.02. Other companies within the Technology sector that declined today were: Deltathree ( DDDC), down 23.8%, Velti ( VELT), down 16.0%, Inteliquent ( IQNT), down 12.5% and SemiLEDs ( LEDS), down 8.8%.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $22.3 billion and is part of the electronics industry. Shares are up 19.0% year to date as of the close of trading on Tuesday. Currently there are 10 analysts that rate Corning a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Corning as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, Jiayuan.com International Ltd ADR ( DATE), up 22.6%, Meade Instruments Corporation ( MEAD), up 14.5%, Igate Corporation ( IGTE), up 11.4% and Yahoo ( YHOO), up 10.3% , were all gainers within the technology sector with Adobe Systems ( ADBE) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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