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3 Technology Stocks Nudging The Sector Higher

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 83 points (-0.5%) at 16,448 as of Tuesday, May 6, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,223 issues advancing vs. 1,760 declining with 164 unchanged.

The Technology sector currently sits down 0.6% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Avago Technologies (AVGO), up 4.8%, 3D Systems (DDD), up 4.5%, Alcatel-Lucent (ALU), up 3.3%, Taiwan Semiconductor Manufacturing (TSM), up 1.9% and Micron Technology (MU), up 1.2%. On the negative front, top decliners within the sector include AthenaHealth (ATHN), down 13.4%, Yelp (YELP), down 7.5%, TripAdvisor (TRIP), down 3.3%, NetApp (NTAP), down 2.3% and Amazon.com (AMZN), down 2.2%.

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

3. Mobile Telesystems OJSC (MBT) is one of the companies pushing the Technology sector higher today. As of noon trading, Mobile Telesystems OJSC is up $0.33 (2.0%) to $16.74 on light volume. Thus far, 1.3 million shares of Mobile Telesystems OJSC exchanged hands as compared to its average daily volume of 3.9 million shares. The stock has ranged in price between $16.45-$16.77 after having opened the day at $16.57 as compared to the previous trading day's close of $16.41.

Mobile TeleSystems OJSC provides a range of mobile and fixed line voice and data telecommunications services in Russia and the CIS. It offers data transfer, broadband, pay-TV, and various value-added services, as well as sells equipment and accessories. Mobile Telesystems OJSC has a market cap of $16.4 billion and is part of the telecommunications industry. The company has a P/E ratio of 16.1, below the S&P 500 P/E ratio of 17.7. Shares are down 24.1% year-to-date as of the close of trading on Monday. Currently there are 3 analysts who rate Mobile Telesystems OJSC a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Mobile Telesystems OJSC as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself. Get the full Mobile Telesystems OJSC 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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