5 Technology Stocks Dragging The Sector Down

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

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 62 points (-0.4%) at 14,778 as of Wednesday, May 1, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 958 issues advancing vs. 1,966 declining with 114 unchanged.

The Technology sector currently sits down 0.81 versus the S&P 500, which is down 0.42. On the negative front, top decliners within the sector include SolarWinds ( SWI), down 10.78, America Movil S.A.B. de C.V ( AMOV), down 3.22, Wipro ( WIT), down 2.25, Cognizant Technology Solutions Corporation ( CTSH), down 1.44 and China Unicom (Hong Kong ( CHU), down 1.46.

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

5. ABB ( ABB) is one of the companies pushing the Technology sector lower today. As of noon trading, ABB is down $0.32 (-1.4%) to $22.25 on heavy volume Thus far, 1.4 million shares of ABB exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $22.17-$22.57 after having opened the day at $22.57 as compared to the previous trading day's close of $22.57.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. ABB has a market cap of $53.3 billion and is part of the electronics industry. The company has a P/E ratio of 19.7, above the S&P 500 P/E ratio of 17.7. Shares are up 8.6% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full ABB Ratings Report now.

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