5 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

The Dow Jones Industrial Average (^DJI) steady at 13,953 as of Wednesday, Jan. 30, 2013, 11:50 AM ET. The NYSE advances/declines ratio sits at 1,129 issues advancing vs. 1,699 declining with 163 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is down 0.0%. Top gainers within the sector include Manhattan Associates (MANH), up 14.1%, CommVault Systems (CVLT), up 10.8%, Aspen Technology (AZPN), up 8.6%, CGI Group (GIB), up 6.6% and EMC Corporation (EMC), up 2.2%. On the negative front, top decliners within the sector include Turkcell Iletisim Hizmetleri AS (TKC), down 7.1%, Advanced Semiconductor Engineering (ASX), down 3.1%, Corning (GLW), down 2.2%, Citrix Systems (CTXS), down 1.5% and Rogers Communications (RCI), down 0.8%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Oi (OIBR) is one of the companies pushing the Technology sector higher today. As of noon trading, Oi is up $0.15 (3.9%) to $4.01 on heavy volume Thus far, 2.0 million shares of Oi exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $3.95-$4.01 after having opened the day at $4.00 as compared to the previous trading day's close of $3.86.

Oi S.A., through its subsidiaries, provides integrated telecommunication service for residential customers, companies, and governmental agencies in Brazil. Oi has a market cap of $6.3 billion and is part of the telecommunications industry. Shares are down 3.5% year to date as of the close of trading on Tuesday. Currently there are no analysts that rate Oi a buy, 3 analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Oi as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, feeble growth in its earnings per share and generally disappointing historical performance in the stock itself. Get the full Oi Ratings Report now.

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