3 Stocks Pulling The Technology Sector Downward

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%. 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%. 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%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Turkcell Iletisim Hizmetleri AS ( TKC) is one of the companies pushing the Technology sector lower today. As of noon trading, Turkcell Iletisim Hizmetleri AS is down $0.43 (-3.0%) to $14.16 on average volume. Thus far, 248,639 shares of Turkcell Iletisim Hizmetleri AS exchanged hands as compared to its average daily volume of 504,400 shares. The stock has ranged in price between $14.10-$14.31 after having opened the day at $14.25 as compared to the previous trading day's close of $14.59.

Turkcell Iletisim Hizmetleri A.S. engages in establishing and operating a global system for mobile communications network primarily in Turkey. It provides mobile voice, broadband, and other services on postpaid and prepaid basis. Turkcell Iletisim Hizmetleri AS has a market cap of $13.0 billion and is part of the telecommunications industry. Shares are down 9.6% year to date as of the close of trading on Tuesday. Currently there are 2 analysts that rate Turkcell Iletisim Hizmetleri AS a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Turkcell Iletisim Hizmetleri AS as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, revenue growth, largely solid financial position with reasonable debt levels by most measures, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Turkcell Iletisim Hizmetleri AS Ratings Report now.

STOCKS TO BUY: 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, VimpelCom ( VIP) is down $0.12 (-1.3%) to $9.84 on average volume. Thus far, 601,970 shares of VimpelCom exchanged hands as compared to its average daily volume of 1.4 million shares. The stock has ranged in price between $9.80-$10.04 after having opened the day at $9.93 as compared to the previous trading day's close of $9.96.

VimpelCom Ltd., a telecommunications service operator, provides voice and data services through a range of traditional and broadband mobile and fixed technologies. VimpelCom has a market cap of $16.4 billion and is part of the telecommunications industry. Shares are down 5.1% year to date as of the close of trading on Tuesday. Currently there is 1 analyst that rates VimpelCom a buy, 1 analyst rates it a sell, and 4 rate it a hold.

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

STOCKS TO BUY: 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, Corning ( GLW) is down $0.17 (-1.2%) to $14.25 on light volume. Thus far, 4.6 million shares of Corning exchanged hands as compared to its average daily volume of 13.3 million shares. The stock has ranged in price between $14.10-$14.31 after having opened the day at $14.31 as compared to the previous trading day's close of $14.42.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $21.3 billion and is part of the electronics industry. Shares are up 14.3% year to date as of the close of trading on Tuesday. Currently there are 10 analysts that rate Corning a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Corning as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins, increase in stock price during the past year 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 Corning Ratings Report now.

STOCKS TO BUY: 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).

null

More from Markets

Stocks Drift, Oil Extends Declines as Investors Question Global Growth Prospects

Stocks Drift, Oil Extends Declines as Investors Question Global Growth Prospects

FCC Rocks Sinclair-Tribune Merger; Arconic Makes Perfect PE Sense -- ICYMI

FCC Rocks Sinclair-Tribune Merger; Arconic Makes Perfect PE Sense -- ICYMI

Bank of America Rips on Earnings Beat, But Analysts See Even More Gains Ahead

Bank of America Rips on Earnings Beat, But Analysts See Even More Gains Ahead

Will Micron Buy Back $10 Billion in Stock? Analyst Says Yes

Will Micron Buy Back $10 Billion in Stock? Analyst Says Yes

Stocks End Mixed as Dow Rises, S&P 500 and Nasdaq Slip

Stocks End Mixed as Dow Rises, S&P 500 and Nasdaq Slip