Why Apple's Glass Supplier Corning Shares Are Trading Higher Today

Corning Incorporated (NYSE:GLW) shares are trading higher after the company increased its second-quarter core sales guidance. The company now projects core sales to be approximately $3.6 billion (vs. consensus of $3.41 billion), an increase from the previous guidance of $3.4 billion. Core EPS is expected to reach the high end of, or slightly exceed, the management’s guided range of $0.42 to $0.46 (vs. estimate of $0.45). The company anticipates over $3 billion in annualized sales growth over the next three years, fueled by both cyclical factors and secular trends.