5 Stocks Driving 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

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 161 points (1.1%) at 14,992 as of Friday, May 3, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 2,292 issues advancing vs. 653 declining with 100 unchanged.

The Technology sector currently sits up 1.6% versus the S&P 500, which is up 1.2%. Top gainers within the sector include CGG ( CGG), up 12.2%, Eaton Corporation ( ETN), up 4.0%, SanDisk ( SNDK), up 4.0%, Corning ( GLW), up 3.9% and Seagate Technology ( STX), up 3.6%. On the negative front, top decliners within the sector include BT Group ( BT), down 1.12, and AT&T ( T), down 0.64.

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

5. International Business Machines ( IBM) is one of the companies pushing the Technology sector higher today. As of noon trading, International Business Machines is up $2.34 (1.16) to $204.73 on average volume Thus far, 2.3 million shares of International Business Machines exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $203.75-$205.27 after having opened the day at $203.94 as compared to the previous trading day's close of $202.39.

International Business Machines Corporation provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. International Business Machines has a market cap of $221.3 billion and is part of the computer software & services industry. The company has a P/E ratio of 13.8, below the S&P 500 P/E ratio of 17.7. Shares are up 5.7% year to date as of the close of trading on Thursday. Currently there are 9 analysts that rate International Business Machines a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity, growth in earnings per share 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 International Business Machines Ratings Report now.

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4. As of noon trading, Intel ( INTC) is up $0.14 (0.59) to $24.02 on light volume Thus far, 15.9 million shares of Intel exchanged hands as compared to its average daily volume of 44.5 million shares. The stock has ranged in price between $23.96-$24.22 after having opened the day at $24.22 as compared to the previous trading day's close of $23.88.

Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. The company operates through PC Client Group, Data Center Group, Other Intel Architecture, Software and Services, and All Other segments. Intel has a market cap of $119.3 billion and is part of the electronics industry. The company has a P/E ratio of 12.0, below the S&P 500 P/E ratio of 17.7. Shares are up 16.3% year to date as of the close of trading on Thursday. Currently there are 10 analysts that rate Intel a buy, 4 analysts rate it a sell, and 23 rate it a hold.

TheStreet Ratings rates Intel as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Intel Ratings Report now.

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3. As of noon trading, Microsoft Corporation ( MSFT) is up $0.23 (0.69) to $33.39 on average volume Thus far, 24.5 million shares of Microsoft Corporation exchanged hands as compared to its average daily volume of 50.7 million shares. The stock has ranged in price between $33.08-$33.52 after having opened the day at $33.23 as compared to the previous trading day's close of $33.16.

Microsoft Corporation develops, licenses, and supports software products and services; and designs and sells hardware worldwide. Microsoft Corporation has a market cap of $273.2 billion and is part of the computer software & services industry. The company has a P/E ratio of 16.9, below the S&P 500 P/E ratio of 17.7. Shares are up 22.5% year to date as of the close of trading on Thursday. Currently there are 15 analysts that rate Microsoft Corporation a buy, no analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Microsoft 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, increase in net income, attractive valuation levels 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 Microsoft Corporation Ratings Report now.

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2. As of noon trading, Google ( GOOG) is up $12.77 (1.54) to $842.38 on average volume Thus far, 1.4 million shares of Google exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $836.00-$845.60 after having opened the day at $836.96 as compared to the previous trading day's close of $829.61.

Google Inc., a technology company, builds products and provides services to organize the information and make it universally accessible and useful. Google has a market cap of $222.4 billion and is part of the internet industry. The company has a P/E ratio of 26.2, above the S&P 500 P/E ratio of 17.7. Shares are up 16.0% year to date as of the close of trading on Thursday. Currently there are 23 analysts that rate Google a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Google 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, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Google Ratings Report now.

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1. As of noon trading, Apple ( AAPL) is up $5.30 (1.19) to $450.82 on average volume Thus far, 7.9 million shares of Apple exchanged hands as compared to its average daily volume of 17.2 million shares. The stock has ranged in price between $449.51-$453.23 after having opened the day at $451.31 as compared to the previous trading day's close of $445.52.

Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions. Apple has a market cap of $412.3 billion and is part of the computer hardware industry. The company has a P/E ratio of 10.5, below the S&P 500 P/E ratio of 17.7. Shares are down 17.5% year to date as of the close of trading on Thursday. Currently there are 28 analysts that rate Apple a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Apple 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, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Apple Ratings Report now.

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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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