3 Stocks Pushing The Telecommunications Industry Lower

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 68 points (0.4%) at 15,371 as of Thursday, May 30, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,814 issues advancing vs. 1,135 declining with 104 unchanged.

The Telecommunications industry currently sits up 0.5% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the industry include Turkcell Iletisim Hizmetleri AS ( TKC), down 2.28, and Nippon Telegraph & Telephone ( NTT), down 1.03. Top gainers within the industry include China Unicom (Hong Kong ( CHU), up 3.8%, NTT DoCoMo ( DCM), up 1.5% and China Telecom ( CHA), up 1.5%.

TheStreet Ratings group would like to highlight 3 stocks pushing the industry lower today:

3. Philippine Long Distance Telephone ( PHI) is one of the companies pushing the Telecommunications industry lower today. As of noon trading, Philippine Long Distance Telephone is down $1.45 (-2.0%) to $72.36 on light volume Thus far, 34,406 shares of Philippine Long Distance Telephone exchanged hands as compared to its average daily volume of 132,800 shares. The stock has ranged in price between $72.33-$73.14 after having opened the day at $72.83 as compared to the previous trading day's close of $73.81.

Philippine Long Distance Telephone Company provides telecommunication services in the Philippines. Philippine Long Distance Telephone has a market cap of $16.1 billion and is part of the technology sector. The company has a P/E ratio of 19.1, above the S&P 500 P/E ratio of 17.7. Shares are up 21.6% year to date as of the close of trading on Wednesday. Currently there are no analysts that rate Philippine Long Distance Telephone a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Philippine Long Distance Telephone as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, largely solid financial position with reasonable debt levels by most measures 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 Philippine Long Distance Telephone Ratings Report now.

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