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Declines From Research In Motion Ltd (RIMM) Drive Down Technology Sector

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.

Research in Motion (RIMM) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 1.7%. By the end of trading, Research in Motion fell 16 cents (-1.1%) to $14.69 on light volume. Throughout the day, 36.5 million shares of Research in Motion exchanged hands as compared to its average daily volume of 54.8 million shares. The stock ranged in price between $14.47-$14.99 after having opened the day at $14.86 as compared to the previous trading day's close of $14.85. Other companies within the Technology sector that declined today were: Telestone Technologies Corporation (TSTC), down 14.4%, GigOptix (GIG), down 11.5%, China Sunergy (CSUN), down 8.1%, and OCZ Technology Group (OCZ), down 7.9%.

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Research In Motion Limited designs, manufactures, and markets wireless solutions for the mobile communications market worldwide. Research in Motion has a market cap of $6.83 billion and is part of the telecommunications industry. Shares are up 9.4% year to date as of the close of trading on Tuesday. Currently there are three analysts that rate Research in Motion a buy, 15 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Research in Motion as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and poor profit margins.

On the positive front, DragonWave (DRWI), up 28.4%, Suntech Power Holdings (STP), up 19.4%, Synacor (SYNC), up 14.6%, and Adtran (ADTN), up 13.9%, were all gainers within the technology sector with International Business Machines (IBM) being today's featured technology sector leader.

For investors not wanting singular stock exposure, 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).

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