5 Stocks Pushing The Technology Sector Lower

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 20 points (-0.1%) at 15,298 as of Wednesday, June 19, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 2,604 issues advancing vs. 474 declining with 57 unchanged.

The Technology sector currently sits down 0.08 versus the S&P 500, which is down 0.17. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI), down 2.71, Telecom Italia SpA ( TI.A), down 3.08, China Telecom ( CHA), down 1.82, Corning ( GLW), down 1.61 and Telefonica ( TEF), down 1.46. Top gainers within the sector include Adobe Systems ( ADBE), up 6.8%, NVIDIA Corporation ( NVDA), up 5.0%, Autodesk ( ADSK), up 3.3%, LinkedIn ( LNKD), up 1.8% and Kyocera Corporation ( KYO), up 1.2%.

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

5. American Tower ( AMT) is one of the companies pushing the Technology sector lower today. As of noon trading, American Tower is down $1.00 (-1.3%) to $76.28 on light volume Thus far, 709,774 shares of American Tower exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $76.22-$77.47 after having opened the day at $77.32 as compared to the previous trading day's close of $77.29.

American Tower Corporation, a real estate investment trust, operates as a wireless and broadcast communications infrastructure company. It develops, owns, and operates communications sites. American Tower has a market cap of $30.4 billion and is part of the real estate industry. The company has a P/E ratio of 52.0, above the S&P 500 P/E ratio of 17.7. Shares are up 0.0% year to date as of the close of trading on Tuesday. Currently there are 16 analysts that rate American Tower a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates American Tower as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full American Tower Ratings Report now.

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