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5 Stocks Moving The Technology Sector Upward

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 12 points (0.1%) at 15,069 as of Wednesday, May 8, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,670 issues advancing vs. 1,254 declining with 121 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Electronic Arts ( EA), up 15.4%, STMicroelectronics ( STM), up 5.0%, Cognizant Technology Solutions Corporation ( CTSH), up 4.2%, VimpelCom ( VIP), up 3.8% and Taiwan Semiconductor Manufacturing ( TSM), up 3.5%. On the negative front, top decliners within the sector include Symantec ( SYMC), down 3.90, Telecom Italia SpA ( TI.A), down 2.16, Nippon Telegraph & Telephone ( NTT), down 0.83 and Microsoft Corporation ( MSFT), down 0.65.

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

5. ABB ( ABB) is one of the companies pushing the Technology sector higher today. As of noon trading, ABB is up $0.31 (1.36) to $23.07 on light volume Thus far, 558,593 shares of ABB exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $22.94-$23.10 after having opened the day at $22.98 as compared to the previous trading day's close of $22.76.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. ABB has a market cap of $52.1 billion and is part of the electronics industry. The company has a P/E ratio of 19.2, above the S&P 500 P/E ratio of 17.7. Shares are up 9.2% year to date as of the close of trading on Tuesday. Currently there are 5 analysts that rate ABB a buy, 1 analyst rates it a sell, and 1 rates it a hold.

TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full ABB Ratings Report now.

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