5 Stocks Pushing The Technology Sector Higher

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 19 points (-0.1%) at 15,282 as of Wednesday, July 10, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,222 issues advancing vs. 1,685 declining with 126 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is down 0.1%. Top gainers within the sector include Yandex ( YNDX), up 4.3%, Applied Materials ( AMAT), up 4.1%, Crown Castle International ( CCI), up 2.8%, American Tower ( AMT), up 2.6% and Cognizant Technology Solutions Corporation ( CTSH), up 2.5%. On the negative front, top decliners within the sector include Micron Technology ( MU), down 3.1%, Nokia Oyj ( NOK), down 2.4%, Nielsen Holdings ( NLSN), down 2.2%, Telefonica Brasil S.A ( VIV), down 2.0% and Telecom Italia SpA ( TI), down 2.0%.

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

5. Infosys ( INFY) is one of the companies pushing the Technology sector higher today. As of noon trading, Infosys is up $0.35 (0.8%) to $42.46 on average volume. Thus far, 1.1 million shares of Infosys exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $42.02-$42.68 after having opened the day at $42.09 as compared to the previous trading day's close of $42.11.

Infosys Limited provides business consulting, technology, engineering, and outsourcing services worldwide. Infosys has a market cap of $23.7 billion and is part of the computer software & services industry. Shares are down 1.8% year to date as of the close of trading on Tuesday. Currently there are 3 analysts that rate Infosys a buy, 3 analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Infosys as a hold. 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 and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and disappointing return on equity. Get the full Infosys 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, Qihoo 360 Technology ( QIHU) is up $1.57 (3.2%) to $51.04 on average volume. Thus far, 1.4 million shares of Qihoo 360 Technology exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $49.66-$51.09 after having opened the day at $49.66 as compared to the previous trading day's close of $49.47.

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products in the People's Republic of China. Qihoo 360 Technology has a market cap of $6.1 billion and is part of the internet industry. Shares are up 66.8% year to date as of the close of trading on Tuesday. Currently there are 5 analysts that rate Qihoo 360 Technology a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Qihoo 360 Technology as a hold. 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 and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and premium valuation. Get the full Qihoo 360 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.

3. As of noon trading, Lam Research Corporation ( LRCX) is up $2.05 (4.3%) to $49.55 on heavy volume. Thus far, 2.5 million shares of Lam Research Corporation exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $47.60-$49.70 after having opened the day at $47.61 as compared to the previous trading day's close of $47.50.

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipments used in the fabrication of integrated circuits. Lam Research Corporation has a market cap of $7.4 billion and is part of the electronics industry. Shares are up 26.3% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Lam Research Corporation a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Lam Research Corporation 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, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Lam Research 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.

2. As of noon trading, Automatic Data Processing ( ADP) is up $0.63 (0.9%) to $71.67 on light volume. Thus far, 495,797 shares of Automatic Data Processing exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $70.84-$71.68 after having opened the day at $70.86 as compared to the previous trading day's close of $71.04.

Automatic Data Processing, Inc. and its subsidiaries provide business outsourcing solutions. The company operates in three segments: Employer Services, Professional Employer Organization (PEO) Services, and Dealer Services. Automatic Data Processing has a market cap of $34.4 billion and is part of the computer software & services industry. Shares are up 24.7% year to date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Automatic Data Processing a buy, 2 analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates Automatic Data Processing as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Automatic Data Processing 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, Microsoft Corporation ( MSFT) is up $0.24 (0.7%) to $34.59 on light volume. Thus far, 15.2 million shares of Microsoft Corporation exchanged hands as compared to its average daily volume of 51.8 million shares. The stock has ranged in price between $34.32-$34.81 after having opened the day at $34.34 as compared to the previous trading day's close of $34.35.

Microsoft Corporation develops, licenses, and supports software products and services; and designs and sells hardware worldwide. Microsoft Corporation has a market cap of $286.7 billion and is part of the computer software & services industry. Shares are up 28.6% year to date as of the close of trading on Tuesday. Currently there are 14 analysts that rate Microsoft Corporation a buy, no analysts rate it a sell, and 15 rate it a hold.

TheStreet Ratings rates Microsoft Corporation 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, attractive valuation levels, expanding profit margins and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Microsoft 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).
null

If you liked this article you might like

Infosys: Pent Up Value, Ready to Rise

Infosys: Pent Up Value, Ready to Rise

India's Rise as a Superpower Center Stage at Davos - Here's One Hot Trade

India's Rise as a Superpower Center Stage at Davos - Here's One Hot Trade

Markets Take the Government Shutdown in Their Stride: Market Recon

Markets Take the Government Shutdown in Their Stride: Market Recon

A Heavenly Buy-Write Combination

A Heavenly Buy-Write Combination

We Are Bearish on Infosys, and Here's Why

We Are Bearish on Infosys, and Here's Why