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3 Technology Stocks Pushing Sector Growth

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 44 points (-0.3%) at 15,515 as of Monday, July 29, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 829 issues advancing vs. 2,095 declining with 99 unchanged.

The Technology sector currently sits down 0.5% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Activision Blizzard ( ATVI), up 3.5%, Facebook Inc Class A ( FB), up 2.5%, Wipro ( WIT), up 1.8%, Thomson Reuters Corporation ( TRI), up 1.5% and Baidu ( BIDU), up 1.2%. On the negative front, top decliners within the sector include ( CYOU), down 20.9%, NetSuite ( N), down 4.6%, America Movil S.A.B. de C.V ( AMOV), down 3.6%, LinkedIn ( LNKD), down 2.9% and Roper Industries ( ROP), down 2.7%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Verizon Communications ( VZ) is one of the companies pushing the Technology sector higher today. As of noon trading, Verizon Communications is up $0.40 (0.8%) to $51.42 on light volume. Thus far, 3.6 million shares of Verizon Communications exchanged hands as compared to its average daily volume of 11.6 million shares. The stock has ranged in price between $50.92-$51.50 after having opened the day at $51.03 as compared to the previous trading day's close of $51.02.

Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide. Verizon Communications has a market cap of $150.5 billion and is part of the telecommunications industry. Shares are up 17.9% year to date as of the close of trading on Friday. Currently there are 14 analysts that rate Verizon Communications a buy, no analysts rate it a sell, and 15 rate it a hold.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Verizon Communications Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

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