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5 Stocks Pushing The Technology Sector Higher

Editor's Note: 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

The  Dow Jones Industrial Average ( ^DJI) steady at 13,953 as of Wednesday, Jan. 30, 2013, 11:50 AM ET. The NYSE advances/declines ratio sits at 1,129 issues advancing vs. 1,699 declining with 163 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is down 0.0%. Top gainers within the sector include Manhattan Associates ( MANH), up 14.1%, CommVault Systems ( CVLT), up 10.8%, Aspen Technology ( AZPN), up 8.6%, CGI Group ( GIB), up 6.6% and EMC Corporation ( EMC), up 2.2%. On the negative front, top decliners within the sector include Turkcell Iletisim Hizmetleri AS ( TKC), down 7.1%, Advanced Semiconductor Engineering ( ASX), down 3.1%, Corning ( GLW), down 2.2%, Citrix Systems ( CTXS), down 1.5% and Rogers Communications ( RCI), down 0.8%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Oi ( OIBR) is one of the companies pushing the Technology sector higher today. As of noon trading, Oi is up $0.15 (3.9%) to $4.01 on heavy volume Thus far, 2.0 million shares of Oi exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $3.95-$4.01 after having opened the day at $4.00 as compared to the previous trading day's close of $3.86.

Oi S.A., through its subsidiaries, provides integrated telecommunication service for residential customers, companies, and governmental agencies in Brazil. Oi has a market cap of $6.3 billion and is part of the telecommunications industry. Shares are down 3.5% year to date as of the close of trading on Tuesday. Currently there are no analysts that rate Oi a buy, 3 analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Oi as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, feeble growth in its earnings per share and generally disappointing historical performance in the stock itself. Get the full Oi Ratings Report now.

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4. As of noon trading, Freescale Semiconductor ( FSL) is up $2.11 (17.0%) to $14.50 on heavy volume Thus far, 3.2 million shares of Freescale Semiconductor exchanged hands as compared to its average daily volume of 801,800 shares. The stock has ranged in price between $13.40-$14.93 after having opened the day at $13.46 as compared to the previous trading day's close of $12.39.

Freescale Semiconductor, Ltd. provides embedded processing solutions for automotive, networking, industrial, and consumer markets worldwide. Freescale Semiconductor has a market cap of $3.0 billion and is part of the electronics industry. Shares are up 11.3% year to date as of the close of trading on Tuesday. Currently there are 6 analysts that rate Freescale Semiconductor a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Freescale Semiconductor as a sell. The area that we feel has been the company's primary weakness has been its meager revenue growth. Get the full Freescale Semiconductor Ratings Report now.

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3. As of noon trading, China Unicom (Hong Kong ( CHU) is up $0.18 (1.2%) to $15.87 on average volume Thus far, 254,438 shares of China Unicom (Hong Kong exchanged hands as compared to its average daily volume of 657,200 shares. The stock has ranged in price between $15.70-$15.91 after having opened the day at $15.76 as compared to the previous trading day's close of $15.69.

China Unicom (Hong Kong) Limited, an investment holding company, engages in the provision of GSM and WCDMA cellular, and related telecommunications services primarily in the People's Republic of China. China Unicom (Hong Kong has a market cap of $36.7 billion and is part of the telecommunications industry. The company has a P/E ratio of 55.7, above the S&P 500 P/E ratio of 17.7. Shares are down 4.3% year to date as of the close of trading on Tuesday. Currently there are 4 analysts that rate China Unicom (Hong Kong a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates China Unicom (Hong Kong as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including poor profit margins and a generally disappointing performance in the stock itself. Get the full China Unicom (Hong Kong Ratings Report now.

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2. As of noon trading, Western Digital Corporation ( WDC) is up $0.88 (1.9%) to $46.99 on average volume Thus far, 1.7 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 4.0 million shares. The stock has ranged in price between $46.11-$47.04 after having opened the day at $46.18 as compared to the previous trading day's close of $46.11.

Western Digital Corporation, through its subsidiaries, engages in the development, manufacture, and sale of storage products that enable people to create, manage, experience, and preserve digital content. The company principally offers hard drives comprising 3.5-inch and 2.5-inch form factors. Western Digital Corporation has a market cap of $11.8 billion and is part of the computer hardware industry. The company has a P/E ratio of 5.8, below the S&P 500 P/E ratio of 17.7. Shares are up 14.5% year to date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 10 rate it a hold.

TheStreet Ratings rates Western Digital Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Western Digital Corporation Ratings Report now.

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1. As of noon trading, Google ( GOOG) is up $3.82 (0.5%) to $757.50 on light volume Thus far, 798,947 shares of Google exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $753.31-$760.95 after having opened the day at $753.74 as compared to the previous trading day's close of $753.68.

Google Inc., a technology company, maintains an index of Web sites and other online content for users, advertisers, and Google network members and other content providers. Google has a market cap of $198.9 billion and is part of the internet industry. The company has a P/E ratio of 23.1, above the S&P 500 P/E ratio of 17.7. Shares are up 6.1% year to date as of the close of trading on Tuesday. Currently there are 25 analysts that rate Google a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Google as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Google Ratings Report now.

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If you are interested in one of these 5 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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