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

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 higher today making it today's featured technology winner. The sector as a whole closed the day up 0.4%. By the end of trading, Corning rose $0.29 (1.6%) to $18.29 on average volume. Throughout the day, 9,810,820 shares of Corning exchanged hands as compared to its average daily volume of 12,792,000 shares. The stock ranged in a price between $18.06-$18.32 after having opened the day at $18.09 as compared to the previous trading day's close of $18.00. Other companies within the Technology sector that increased today were: SunEdison ( SUNE), up 78.6%, Perceptron ( PRCP), up 23.4%, Kingtone Wirelessinfo Solution ( KONE), up 23.2% and China TechFaith Wireless Comm Tech ( CNTF), up 13.7%.

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 $26.0 billion and is part of the electronics industry. The company has a P/E ratio of 14.9, below the S&P 500 P/E ratio of 17.7. Shares are up 1.0% year to date as of the close of trading on Thursday. Currently there are 7 analysts that rate Corning a buy, 1 analyst rates it a sell, and 6 rate it a hold.

TheStreet Ratings rates Corning as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Bazaarvoice ( BV), down 14.7%, Sevcon ( SEV), down 13.9%, Inteliquent ( IQNT), down 9.2% and Ambarella ( AMBA), down 8.9% , were all laggards within the technology sector with Teradata Corporation ( TDC) being today's technology sector laggard.

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).

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