5 Stocks Moving The Technology Sector Upward

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 12 points (0.1%) at 15,069 as of Wednesday, May 8, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,670 issues advancing vs. 1,254 declining with 121 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Electronic Arts ( EA), up 15.4%, STMicroelectronics ( STM), up 5.0%, Cognizant Technology Solutions Corporation ( CTSH), up 4.2%, VimpelCom ( VIP), up 3.8% and Taiwan Semiconductor Manufacturing ( TSM), up 3.5%. On the negative front, top decliners within the sector include Symantec ( SYMC), down 3.90, Telecom Italia SpA ( TI.A), down 2.16, Nippon Telegraph & Telephone ( NTT), down 0.83 and Microsoft Corporation ( MSFT), down 0.65.

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

5. ABB ( ABB) is one of the companies pushing the Technology sector higher today. As of noon trading, ABB is up $0.31 (1.36) to $23.07 on light volume Thus far, 558,593 shares of ABB exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $22.94-$23.10 after having opened the day at $22.98 as compared to the previous trading day's close of $22.76.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. ABB has a market cap of $52.1 billion and is part of the electronics industry. The company has a P/E ratio of 19.2, above the S&P 500 P/E ratio of 17.7. Shares are up 9.2% year to date as of the close of trading on Tuesday. Currently there are 5 analysts that rate ABB a buy, 1 analyst rates it a sell, and 1 rates it a hold.

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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4. As of noon trading, Hewlett-Packard ( HPQ) is up $0.28 (1.37) to $20.78 on light volume Thus far, 6.0 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 24.8 million shares. The stock has ranged in price between $20.44-$21.00 after having opened the day at $20.46 as compared to the previous trading day's close of $20.50.

Hewlett-Packard Company and its subsidiaries provide products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $40.1 billion and is part of the computer hardware industry. Shares are up 43.9% year to date as of the close of trading on Tuesday. Currently there are 2 analysts that rate Hewlett-Packard a buy, 6 analysts rate it a sell, and 15 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a sell. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and deteriorating net income. Get the full Hewlett-Packard Ratings Report now.

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3. As of noon trading, EMC Corporation ( EMC) is up $0.22 (0.97) to $23.34 on average volume Thus far, 8.5 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 22.2 million shares. The stock has ranged in price between $23.02-$23.44 after having opened the day at $23.14 as compared to the previous trading day's close of $23.12.

EMC Corporation, together with its subsidiaries, develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. EMC Corporation has a market cap of $48.9 billion and is part of the computer hardware industry. The company has a P/E ratio of 19.1, above the S&P 500 P/E ratio of 17.7. Shares are down 8.6% year to date as of the close of trading on Tuesday. Currently there are 25 analysts that rate EMC Corporation a buy, no analysts rate it a sell, and 5 rate it a hold.

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

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2. As of noon trading, Cisco Systems ( CSCO) is up $0.28 (1.35) to $20.66 on average volume Thus far, 17.2 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 36.7 million shares. The stock has ranged in price between $20.40-$20.67 after having opened the day at $20.40 as compared to the previous trading day's close of $20.38.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) based networking and other products related to the communications and information technology industries worldwide. Cisco Systems has a market cap of $111.0 billion and is part of the computer hardware 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 5.9% year to date as of the close of trading on Tuesday. Currently there are 22 analysts that rate Cisco Systems a buy, 2 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Cisco Systems as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Cisco Systems Ratings Report now.

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1. As of noon trading, Qualcomm ( QCOM) is up $0.39 (0.61) to $64.36 on average volume Thus far, 5.3 million shares of Qualcomm exchanged hands as compared to its average daily volume of 12.4 million shares. The stock has ranged in price between $63.90-$64.50 after having opened the day at $63.90 as compared to the previous trading day's close of $63.97.

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 $110.3 billion and is part of the telecommunications industry. The company has a P/E ratio of 18.0, above the S&P 500 P/E ratio of 17.7. Shares are up 3.2% year to date as of the close of trading on Tuesday. Currently there are 27 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 4 rate it a hold.

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, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Qualcomm 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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