5 Technology Stocks Pushing The Sector Higher

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 66 points (0.4%) at 14,999 as of Wednesday, July 3, 2013, 12:51 PM ET. The NYSE advances/declines ratio sits at 1,256 issues advancing vs. 1,690 declining with 89 unchanged.

The Technology sector currently sits up 0.4% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Rackspace Hosting ( RAX), up 5.7%, STMicroelectronics ( STM), up 3.8%, LinkedIn ( LNKD), up 3.3%, Nokia Oyj ( NOK), up 3.7% and BT Group ( BT), up 2.6%. On the negative front, top decliners within the sector include Sap ( SAP), down 1.3%, Rogers Communications ( RCI), down 1.3%, Telefonica Brasil S.A ( VIV), down 1.0%, America Movil S.A.B. de C.V ( AMX), down 1.2% and America Movil S.A.B. de C.V ( AMOV), down 1.0%.

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

5. Hewlett-Packard ( HPQ) is one of the companies pushing the Technology sector higher today. As of noon trading, Hewlett-Packard is up $0.22 (0.9%) to $25.24 on light volume. Thus far, 4.2 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 18.7 million shares. The stock has ranged in price between $24.76-$25.27 after having opened the day at $24.88 as compared to the previous trading day's close of $25.02.

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 $48.1 billion and is part of the computer hardware industry. Shares are up 75.6% year to date as of the close of trading on Tuesday. Currently there are 3 analysts that rate Hewlett-Packard a buy, 5 analysts rate it a sell, and 15 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity. Get the full Hewlett-Packard Ratings Report now.

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4. As of noon trading, EMC Corporation ( EMC) is up $0.36 (1.5%) to $24.14 on light volume. Thus far, 6.2 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 23.9 million shares. The stock has ranged in price between $23.62-$24.18 after having opened the day at $23.62 as compared to the previous trading day's close of $23.78.

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 $49.6 billion and is part of the computer hardware industry. Shares are down 6.0% year to date as of the close of trading on Tuesday. Currently there are 26 analysts that rate EMC Corporation a buy, no analysts rate it a sell, and 2 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.

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, Facebook Inc Class A ( FB) is up $0.28 (1.1%) to $24.68 on light volume. Thus far, 8.5 million shares of Facebook Inc Class A exchanged hands as compared to its average daily volume of 38.0 million shares. The stock has ranged in price between $24.15-$24.71 after having opened the day at $24.22 as compared to the previous trading day's close of $24.41.

Facebook, Inc. operates as a social networking company worldwide. It builds various tools that enable users to connect, share, discover, and communicate with each other on mobile devices and computers. Facebook Inc Class A has a market cap of $43.4 billion and is part of the internet industry. Shares are down 6.8% year to date as of the close of trading on Tuesday. Currently there are 23 analysts that rate Facebook Inc Class A a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Facebook Inc Class A as a sell. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself. Get the full Facebook Inc Class A 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, Cisco Systems ( CSCO) is up $0.35 (1.4%) to $24.67 on average volume. Thus far, 20.7 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 41.3 million shares. The stock has ranged in price between $24.27-$24.84 after having opened the day at $24.36 as compared to the previous trading day's close of $24.32.

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 $130.1 billion and is part of the computer hardware industry. Shares are up 23.8% year to date as of the close of trading on Tuesday. Currently there are 22 analysts that rate Cisco Systems a buy, 1 analyst rates it a sell, and 7 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 solid stock price performance, impressive record of earnings per share growth, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. 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.

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, Google ( GOOG) is up $6.86 (0.8%) to $889.17 on light volume. Thus far, 861,049 shares of Google exchanged hands as compared to its average daily volume of 2.4 million shares. The stock has ranged in price between $878.50-$889.17 after having opened the day at $879.90 as compared to the previous trading day's close of $882.31.

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 $240.7 billion and is part of the internet industry. Shares are up 24.7% year to date as of the close of trading on Tuesday. Currently there are 25 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 solid stock price performance, growth in earnings per share, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Google 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).
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