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5 Stocks Driving 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

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 161 points (1.1%) at 14,992 as of Friday, May 3, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 2,292 issues advancing vs. 653 declining with 100 unchanged.

The Technology sector currently sits up 1.6% versus the S&P 500, which is up 1.2%. Top gainers within the sector include CGG ( CGG), up 12.2%, Eaton Corporation ( ETN), up 4.0%, SanDisk ( SNDK), up 4.0%, Corning ( GLW), up 3.9% and Seagate Technology ( STX), up 3.6%. On the negative front, top decliners within the sector include BT Group ( BT), down 1.12, and AT&T ( T), down 0.64.

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

5. International Business Machines ( IBM) is one of the companies pushing the Technology sector higher today. As of noon trading, International Business Machines is up $2.34 (1.16) to $204.73 on average volume Thus far, 2.3 million shares of International Business Machines exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $203.75-$205.27 after having opened the day at $203.94 as compared to the previous trading day's close of $202.39.

International Business Machines Corporation provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. International Business Machines has a market cap of $221.3 billion and is part of the computer software & services industry. The company has a P/E ratio of 13.8, below the S&P 500 P/E ratio of 17.7. Shares are up 5.7% year to date as of the close of trading on Thursday. Currently there are 9 analysts that rate International Business Machines a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full International Business Machines Ratings Report now.

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