5 Stocks Pushing 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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 11 points (-0.1%) at 15,227 as of Tuesday, June 11, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 560 issues advancing vs. 2,425 declining with 97 unchanged.

The Technology sector currently sits down 0.40 versus the S&P 500, which is down 0.37. Top gainers within the sector include Micron Technology ( MU), up 1.0%, Mobile Telesystems OJSC ( MBT), up 1.0% and Apple ( AAPL), up 0.7%. On the negative front, top decliners within the sector include Oi ( OIBR), down 7.24, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 6.20, Philippine Long Distance Telephone ( PHI), down 3.45, Telecom Italia SpA ( TI), down 2.99 and Texas Instruments ( TXN), down 2.59.

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

5. Catamaran ( CTRX) is one of the companies pushing the Technology sector higher today. As of noon trading, Catamaran is up $5.37 (11.04) to $54.03 on heavy volume Thus far, 6.0 million shares of Catamaran exchanged hands as compared to its average daily volume of 1.6 million shares. The stock has ranged in price between $53.50-$56.10 after having opened the day at $55.31 as compared to the previous trading day's close of $48.66.

Catamaran Corporation provides pharmacy benefit management (PBM) services and healthcare information technology (HCIT) solutions to the healthcare benefits management industry in North America. The company operates in two segments: PBM and HCIT. Catamaran has a market cap of $10.4 billion and is part of the health services industry. The company has a P/E ratio of 68.0, above the S&P 500 P/E ratio of 17.7. Shares are up 6.8% year to date as of the close of trading on Monday. Currently there are 13 analysts that rate Catamaran a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Catamaran 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, good cash flow from operations, compelling growth in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Catamaran Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

4. As of noon trading, VMWare ( VMW) is up $1.45 (2.06) to $71.74 on light volume Thus far, 1.0 million shares of VMWare exchanged hands as compared to its average daily volume of 2.8 million shares. The stock has ranged in price between $69.51-$71.99 after having opened the day at $69.73 as compared to the previous trading day's close of $70.29.

VMware, Inc. provides virtualization infrastructure solutions in the United States and internationally. VMWare has a market cap of $9.1 billion and is part of the computer software & services industry. The company has a P/E ratio of 42.4, above the S&P 500 P/E ratio of 17.7. Shares are down 25.3% year to date as of the close of trading on Monday. Currently there are 13 analysts that rate VMWare a buy, 2 analysts rate it a sell, and 16 rate it a hold.

TheStreet Ratings rates VMWare 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 VMWare Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

3. As of noon trading, Seagate Technology ( STX) is up $0.54 (1.23) to $44.51 on average volume Thus far, 2.0 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 5.4 million shares. The stock has ranged in price between $43.51-$44.61 after having opened the day at $43.59 as compared to the previous trading day's close of $43.97.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise storage, client compute, and client non-compute market applications worldwide. Seagate Technology has a market cap of $15.8 billion and is part of the computer hardware industry. The company has a P/E ratio of 7.1, below the S&P 500 P/E ratio of 17.7. Shares are up 44.7% year to date as of the close of trading on Monday. Currently there are 5 analysts that rate Seagate Technology a buy, 3 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity 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 Seagate Technology Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

2. As of noon trading, Sprint Nextel ( S) is up $0.16 (2.30) to $7.34 on heavy volume Thus far, 126.3 million shares of Sprint Nextel exchanged hands as compared to its average daily volume of 53.5 million shares. The stock has ranged in price between $7.31-$7.41 after having opened the day at $7.34 as compared to the previous trading day's close of $7.18.

Sprint Nextel Corporation, through its subsidiaries, offers a range of wireless and wireline communications products and services to individual consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands. Sprint Nextel has a market cap of $21.9 billion and is part of the telecommunications industry. Shares are up 26.6% year to date as of the close of trading on Monday. Currently there are 8 analysts that rate Sprint Nextel a buy, 3 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Sprint Nextel as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and generally higher debt management risk. Get the full Sprint Nextel Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

1. As of noon trading, EMC Corporation ( EMC) is up $0.22 (0.89) to $25.10 on average volume Thus far, 10.1 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 23.5 million shares. The stock has ranged in price between $24.58-$25.13 after having opened the day at $24.66 as compared to the previous trading day's close of $24.88.

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 $52.0 billion and is part of the computer hardware industry. The company has a P/E ratio of 20.3, above the S&P 500 P/E ratio of 17.7. Shares are down 1.7% year to date as of the close of trading on Monday. 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 somewhat disappointing return on equity. Get the full EMC Corporation Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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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