3 Stocks Pushing The Technology Sector Higher
1. As of noon trading, Ericsson Telephone Company ( ERIC) is up $0.11 (1.1%) to $9.73 on average volume Thus far, 1.7 million shares of Ericsson Telephone Company exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $9.62-$9.74 after having opened the day at $9.66 as compared to the previous trading day's close of $9.62. Ericsson provides communications equipment, professional services, and multimedia solutions to mobile and fixed networks operators worldwide. Ericsson Telephone Company has a market cap of $31.5 billion and is part of the telecommunications industry. The company has a P/E ratio of 15.8, below the S&P 500 P/E ratio of 17.7. Shares are down 5.9% year to date as of the close of trading on Thursday. Currently there are 4 analysts that rate Ericsson Telephone Company a buy, 1 analyst rates it a sell, and 6 rate it a hold. TheStreet Ratings rates Ericsson Telephone Company as a hold. 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 and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself. Get the full Ericsson Telephone Company Ratings Report now. EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass If you are interested in one of these 3 stocks, 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). A reminder about TheStreet Ratings group: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.
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