The technology sector closed the day down 4.7%. AudioCodes ( AUDC), New Energy Systems Group ( NEWN), Pansoft Company ( PSOF), and Zhone Technologies Inc ( ZHNE) were all decliners today within the technology sector with CenturyLink Inc ( CTL) being today's featured technology loser. CenturyLink Inc fell 89 cents (-2.7%) to $32.23 on average volume. Throughout the day, six million shares of CenturyLink Inc exchanged hands as compared to its average daily volume of 7.3 million shares.

CenturyTel, Inc., together with its subsidiaries, operates as an integrated communications company. CenturyLink Inc has a market cap of $20.8 billion and is part of the telecommunications industry. The company has a P/E ratio of 15.4, above the average telecommunications industry P/E ratio of 14.3 and below the S&P 500 P/E ratio of 17.7. Shares are down 28.3% year to date as of the close of trading on Friday.

TheStreet Ratings rates CenturyLink as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

On the positive front, Meade Instruments Corporation ( MEAD), Bridgeline Digital Inc ( BLIN), Interphase ( INPH), and Orckit Communications ( ORCT) were all gainers within the technology sector with NTT DoCoMo Inc ( DCM) being today's featured technology sector winner.

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).