Why Corning (GLW) Stock Is Higher This Morning

NEW YORK (TheStreet) -- Shares of Corning Inc.  (GLW) are up 3.66% to $21.50 in pre-market trade after the specialty glass and ceramics company reported 2014 first quarter earnings.

The company said core sales grew to $2.4 billion (non-GAAP), a 32% increase on a year-over-year basis.

Net sales (GAAP) were $2.3 billion, a 26% increase on a year-over-year basis.

Core earnings per share were $0.31 per share (non-GAAP), an increase of 7% over the first quarter last year and better than expected.

GAAP earnings per share were $0.20.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

TheStreet Ratings team rates CORNING INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CORNING INC (GLW) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

If you liked this article you might like

Why Apple Is Increasingly Investing in Its Suppliers, Including Possibly Toshiba

Verizon No Longer Interested in Buying a Cable Operator, CEO Says

Apple's Strong Guidance Now Makes Perfect Sense

Broadcom and Others Should Be iPhone 8 Winners, but Synaptics Might Be a Loser

Corning, Hasbro, Procter & Gamble: 'Mad Money' Lightning Round