NEW YORK ( TheStreet) -- Stocks continue to decline for the third straight day on Thursday after jobless claims unexpectedly rose and Cisco ( CSCO) announced disappointing results.

Tech ETFs are suffering the brunt of the decline after Cisco missed revenue estimates and gave a cautious outlook. The Internet Architecture HOLDRS ( IAH), which has a 12% exposure to Cisco, is shedding 2%. The iShares S&P North America Tech-Multimedia Networking ETF ( IGN), which has a 9% holding in Cisco, is down 3.3%.

Other tech ETFs such as PowerShares Semiconductor ETFs ( PSI) and SPDR S&P International Sector ( IPK) are also declining on weak investor sentiment.

Solar ETFs were prominent gainers amid selling on Thursday morning. On Tuesday LDK Power ( LDK) and SunPower ( SPWRA) announced strong results and raised their guidance spurring further buying interest in the sector. Claymore/MAC Global Solar Energy ( TAN) and Market Vectors Solar ETF ( KWT) are rising by 2.3% and 1.7% respectively.

Gold ETFs are also up as gold prices inch higher to $1214.70 an ounce. The SPDR Gold Trust ( GLD) is gaining 1% in afternoon trading. ETFs tracking gold miners are doing better, with the Market Vectors Junior Gold Miners ETF ( GDXJ) rising 3.3% and the Market Vectors Gold Miners ETF ( GDX) rising 2.5%.

-- Reported by Shanthi Venkataraman in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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