4 Stocks Pushing The Technology Sector Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 14 points (0.1%) at 12,892 as of Wednesday, Nov. 28, 2012, 12:00 PM ET. The NYSE advances/declines ratio sits at 1,435 issues advancing vs. 1,435 declining with 148 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is down 0.0%. Top gainers within the sector include Hewlett-Packard ( HPQ), up 1.6%, Nippon Telegraph & Telephone ( NTT), up 1.1% and Oracle Corporation ( ORCL), up 0.7%. On the negative front, top decliners within the sector include America Movil S.A.B. de C.V ( AMOV), down 2.1%, Apple ( AAPL), down 1.1% and AT&T ( T), down 0.7%.

TheStreet Ratings group would like to highlight 4 stocks pushing the sector higher today:

4. Ericsson Telephone Company ( ERIC) is one of the companies pushing the Technology sector higher today. As of noon trading, Ericsson Telephone Company is up $0.10 (1.1%) to $8.99 on light volume Thus far, 670,174 shares of Ericsson Telephone Company exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $8.89-$9.00 after having opened the day at $8.93 as compared to the previous trading day's close of $8.89.

Ericsson provides communications equipment, professional services, and multimedia solutions to mobile and fixed networks operators worldwide. Ericsson Telephone Company has a market cap of $30.0 billion and is part of the telecommunications industry. The company has a P/E ratio of 15.8, below the S&P 500 P/E ratio of 17.7. Shares are down 10.4% year to date as of the close of trading on Tuesday. Currently there are 3 analysts that rate Ericsson Telephone Company a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates Ericsson Telephone Company as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself. Get the full Ericsson Telephone Company Ratings Report now.

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