American Tower

(

AMT

) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 0.8%. By the end of trading, American Tower rose 30 cents (0.5%) to $55.72 on light volume. Throughout the day, 1.5 million shares of American Tower exchanged hands as compared to its average daily volume of 3.3 million shares. The stock ranged in a price between $55.20-$56.22 after having opened the day at $55.20 as compared to the previous trading day's close of $55.42. Other companies within the Technology sector that increased today were:

Banks.com Inc

(

BNX

), up 16.4%,

Bridgeline Digital Inc

(

BLIN

), up 13.6%,

Tegal Corporation

(

TGAL

), up 12.4%, and

Chyron Corporation

(

CHYR

), up 12.2%.

American Tower Corporation, through its subsidiaries, operates as a wireless and broadcast communications infrastructure company. American Tower has a market cap of $21.78 billion and is part of the

telecommunications

industry. The company has a P/E ratio of 80.3, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 7.3% year to date as of the close of trading on Wednesday.

TheStreet Ratings rates American Tower as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front,

Recon Technology

(

RCON

), down 19.2%,

Sevcon Inc

(

SEV

), down 18%,

Tech/Ops Sevcon Inc

(

TO

), down 18%, and

Daystar Technologies Inc

(

DSTI

), down 14.3%, were all losers within the technology sector with

Sprint Nextel

(

S

) being today's technology sector loser.

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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