5 Stocks Pushing The Technology Sector Lower

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

Two out of the three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading up 19 points (0.1%) at 14,273 as of Wednesday, March 6, 2013, 12:05 PM ET. The NYSE advances/declines ratio sits at 1,527 issues advancing vs. 1,351 declining with 133 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is up 0.1%. On the negative front, top decliners within the sector include Ericsson Telephone Company (ERIC), down 1.7%, BT Group (BT), down 1.2%, Verizon Communications (VZ), down 0.6%, Taiwan Semiconductor Manufacturing (TSM), down 0.7% and Telefonica (TEF), down 0.6%. Top gainers within the sector include TIBCO Software (TIBX), up 9.6%, TripAdvisor (TRIP), up 5.6%, VimpelCom (VIP), up 4.0%, Hewlett-Packard (HPQ), up 3.1% and Tim Holding Company (TSU), up 3.2%.

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

5. Philippine Long Distance Telephone (PHI) is one of the companies pushing the Technology sector lower today. As of noon trading, Philippine Long Distance Telephone is down $1.33 (-1.8%) to $71.95 on average volume Thus far, 76,589 shares of Philippine Long Distance Telephone exchanged hands as compared to its average daily volume of 119,100 shares. The stock has ranged in price between $71.83-$72.59 after having opened the day at $72.47 as compared to the previous trading day's close of $73.28.

Philippine Long Distance Telephone Company provides telecommunication services in the Philippines. Philippine Long Distance Telephone has a market cap of $15.5 billion and is part of the telecommunications industry. The company has a P/E ratio of 19.3, above the S&P 500 P/E ratio of 17.7. Shares are up 19.5% year to date as of the close of trading on Tuesday. Currently there are no analysts that rate Philippine Long Distance Telephone a buy, 1 analyst rates it a sell, and none rate it a hold.

TheStreet Ratings rates Philippine Long Distance Telephone as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Philippine Long Distance Telephone Ratings Report now.

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