5 Technology Stocks Moving The Sector Upward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 15 points (0.1%) at 15,558 as of Monday, July 22, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,691 issues advancing vs. 1,251 declining with 101 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 Himax Technologies ( HIMX), up 35.8%, Infosys ( INFY), up 3.1%, Emerson Electric ( EMR), up 2.4%, Telefonica ( TEF), up 2.2% and BT Group ( BT), up 1.9%. On the negative front, top decliners within the sector include NTT DoCoMo ( DCM), down 1.6%, China Telecom ( CHA), down 1.6%, American Tower ( AMT), down 1.5%, Broadcom Corporation ( BRCM), down 1.4% and Kyocera Corporation ( KYO), down 1.1%.

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 $0.40 (1.6%) to $25.54 on average volume. Thus far, 6.7 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 17.4 million shares. The stock has ranged in price between $25.15-$25.63 after having opened the day at $25.25 as compared to the previous trading day's close of $25.14.

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 $50.8 billion and is part of the computer hardware industry. Shares are up 76.4% year to date as of the close of trading on Friday. Currently there are 4 analysts that rate Hewlett-Packard a buy, 5 analysts rate it a sell, and 13 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 solid stock price performance and good cash flow from operations. 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, International Business Machines ( IBM) is up $1.38 (0.7%) to $194.92 on average volume. Thus far, 1.9 million shares of International Business Machines exchanged hands as compared to its average daily volume of 4.4 million shares. The stock has ranged in price between $193.28-$195.79 after having opened the day at $193.85 as compared to the previous trading day's close of $193.54.

International Business Machines Corporation provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. International Business Machines has a market cap of $219.5 billion and is part of the computer software & services industry. Shares are up 1.0% year to date as of the close of trading on Friday. Currently there are 10 analysts that rate International Business Machines a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full International Business Machines 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, Qualcomm ( QCOM) is up $0.38 (0.6%) to $61.84 on light volume. Thus far, 4.9 million shares of Qualcomm exchanged hands as compared to its average daily volume of 14.6 million shares. The stock has ranged in price between $61.50-$61.97 after having opened the day at $61.68 as compared to the previous trading day's close of $61.46.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. It operates in four segments: QCT, QTL, QWI, and QSI. Qualcomm has a market cap of $105.6 billion and is part of the telecommunications industry. Shares are down 1.2% year to date as of the close of trading on Friday. Currently there are 25 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity, impressive record of earnings per share growth and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Qualcomm 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, Microsoft Corporation ( MSFT) is up $0.38 (1.2%) to $31.78 on heavy volume. Thus far, 44.1 million shares of Microsoft Corporation exchanged hands as compared to its average daily volume of 48.9 million shares. The stock has ranged in price between $31.60-$31.96 after having opened the day at $31.70 as compared to the previous trading day's close of $31.40.

Microsoft Corporation develops, licenses, and supports software, services, and solutions worldwide. Its Windows division develops and markets PC operating systems, related software, and online services, and PC hardware products. Microsoft Corporation has a market cap of $296.0 billion and is part of the computer software & services industry. Shares are up 17.6% year to date as of the close of trading on Friday. Currently there are 13 analysts that rate Microsoft Corporation a buy, no analysts rate it a sell, and 14 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, notable return on equity, attractive valuation levels and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. 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.

1. As of noon trading, Google ( GOOG) is up $13.09 (1.5%) to $909.69 on heavy volume. Thus far, 1.7 million shares of Google exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $897.00-$911.43 after having opened the day at $902.00 as compared to the previous trading day's close of $896.60.

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 $246.9 billion and is part of the internet industry. Shares are up 26.7% year to date as of the close of trading on Friday. Currently there are 27 analysts that rate Google a buy, no analysts rate it a sell, and 5 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, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. 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 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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