5 Stocks Advancing The Technology Sector

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 down 40 points (-0.3%) at 14,679 as of Wednesday, April 24, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,751 issues advancing vs. 1,159 declining with 143 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is unchanged. Top gainers within the sector include Kyocera Corporation ( KYO), up 4.1%, Sap AG ADR ( SAP), up 2.2%, Telefonica ( TEF), up 1.6%, Microsoft Corporation ( MSFT), up 1.7% and Siemens ( SI), up 1.2%. On the negative front, top decliners within the sector include AT&T ( T), down 5.67, Verizon Communications ( VZ), down 1.32, America Movil S.A.B. de C.V ( AMX), down 0.91 and America Movil S.A.B. de C.V ( AMOV), down 0.95.

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

5. LM Ericsson Telephone Company ( ERIC) is one of the companies pushing the Technology sector higher today. As of noon trading, LM Ericsson Telephone Company is up $0.41 (3.55) to $11.95 on heavy volume Thus far, 8.9 million shares of LM Ericsson Telephone Company exchanged hands as compared to its average daily volume of 5.0 million shares. The stock has ranged in price between $11.66-$12.07 after having opened the day at $11.69 as compared to the previous trading day's close of $11.54.

Ericsson provides telecommunications equipment and services to mobile and fixed network operators worldwide. It operates in four segments: Networks, Global Services, Support Solutions, and ST-Ericsson. LM Ericsson Telephone Company has a market cap of $38.6 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 up 15.6% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates LM Ericsson Telephone Company as a buy. 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, 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. Get the full LM Ericsson Telephone Company Ratings Report now.

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4. As of noon trading, Corning ( GLW) is up $0.66 (5.06) to $13.80 on heavy volume Thus far, 16.0 million shares of Corning exchanged hands as compared to its average daily volume of 14.5 million shares. The stock has ranged in price between $13.41-$13.82 after having opened the day at $13.50 as compared to the previous trading day's close of $13.13.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $18.9 billion and is part of the electronics industry. The company has a P/E ratio of 11.1, below the S&P 500 P/E ratio of 17.7. Shares are up 4.0% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates Corning as a buy. 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, attractive valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Corning Ratings Report now.

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3. As of noon trading, Accenture ( ACN) is up $1.15 (1.51) to $77.45 on average volume Thus far, 1.9 million shares of Accenture exchanged hands as compared to its average daily volume of 2.6 million shares. The stock has ranged in price between $76.43-$77.70 after having opened the day at $76.43 as compared to the previous trading day's close of $76.30.

Accenture plc operates as a management consulting, technology services, and outsourcing company worldwide. Accenture has a market cap of $48.7 billion and is part of the computer software & services industry. The company has a P/E ratio of 16.2, below the S&P 500 P/E ratio of 17.7. Shares are up 14.7% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates Accenture as a buy. 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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Accenture Ratings Report now.

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2. As of noon trading, Broadcom Corporation ( BRCM) is up $2.18 (6.61) to $35.16 on heavy volume Thus far, 9.2 million shares of Broadcom Corporation exchanged hands as compared to its average daily volume of 7.5 million shares. The stock has ranged in price between $34.43-$35.30 after having opened the day at $34.75 as compared to the previous trading day's close of $32.98.

Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. Broadcom Corporation has a market cap of $17.0 billion and is part of the electronics industry. The company has a P/E ratio of 26.1, above the S&P 500 P/E ratio of 17.7. Shares are down 1.8% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates Broadcom Corporation as a buy. 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, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Broadcom Corporation Ratings Report now.

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1. As of noon trading, Qualcomm ( QCOM) is up $0.74 (1.13) to $66.09 on average volume Thus far, 7.0 million shares of Qualcomm exchanged hands as compared to its average daily volume of 11.3 million shares. The stock has ranged in price between $65.81-$66.56 after having opened the day at $66.00 as compared to the previous trading day's close of $65.35.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. It operates in four segments: QCT, QTL, QWI, and QSI. Qualcomm has a market cap of $111.0 billion and is part of the telecommunications industry. The company has a P/E ratio of 19.3, above the S&P 500 P/E ratio of 17.7. Shares are up 4.4% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates Qualcomm as a buy. 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, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Qualcomm Ratings Report now.

Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.

If you are interested in one of these 5 stocks, 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).

A reminder about TheStreet Ratings group: 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.

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