Corning: A Real Bargain Stock
Following the recent rally, Cramer on Wednesday said stock picking has become more difficult. After all, stocks get overextended when they run too much. If a stock price is too high, Cramer thinks investors should wait for a pullback.
There are, however, some bargains to be had right now. The "Mad Money" host likes Corning . The New York State-based company makes high-tech glass for liquid crystal display televisions, as well as the optical fiber used by teleco companies, among other products. GLW has been hammered lately and is down 40 percent from its 52-week high in February.
On Wednesday, the glassmaker reported a better-than-expected quarter that beat expectations by 6 cents off a 42-cent basis. It also posted stronger-than-expected revenues that rose nearly 30 percent year-over-year. Its guidance for the next quarter was also promising.
To Cramer, this stock has bottomed and is a real bargain. To learn more about the company's future prospects, though, he welcomed Corning chief financial officer Jim Flaws onto the program. Watch the video to see the full interview.
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