3 Stocks Pushing The Electronics Industry Downward

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 86 points (-0.5%) at 16,084 as of Friday, April 11, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,014 issues advancing vs. 1,941 declining with 158 unchanged.

The Electronics industry currently sits down 0.8% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the industry include United Microelectronics ( UMC), down 2.3%, ASML ( ASML), down 2.2%, Agilent Technologies ( A), down 1.2% and KLA-Tencor Corporation ( KLAC), down 1.2%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Corning ( GLW) is one of the companies pushing the Electronics industry lower today. As of noon trading, Corning is down $0.20 (-1.0%) to $20.56 on average volume. Thus far, 8.5 million shares of Corning exchanged hands as compared to its average daily volume of 13.0 million shares. The stock has ranged in price between $20.30-$20.64 after having opened the day at $20.33 as compared to the previous trading day's close of $20.77.

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $29.4 billion and is part of the technology sector. Shares are up 16.6% year-to-date as of the close of trading on Thursday. Currently there are 8 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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Corning Ratings Report now.

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