5 Stocks Pushing The Technology Sector Higher

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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 26 points (0.2%) at 15,572 as of Tuesday, July 23, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,636 issues advancing vs. 1,285 declining with 117 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is down 0.1%. Top gainers within the sector include Telecom Italia SpA ( TI), up 8.7%, Telecom Italia SpA ( TI.A), up 4.8%, Texas Instruments ( TXN), up 4.0%, China Telecom ( CHA), up 2.6% and Philippine Long Distance Telephone ( PHI), up 2.3%. On the negative front, top decliners within the sector include STMicroelectronics ( STM), down 8.3%, Waters Corporation ( WAT), down 5.9%, Broadcom Corporation ( BRCM), down 3.5%, Yahoo ( YHOO), down 1.4% and Wipro ( WIT), down 1.0%.

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

5. Telefonica ( TEF) is one of the companies pushing the Technology sector higher today. As of noon trading, Telefonica is up $0.31 (2.3%) to $13.57 on heavy volume. Thus far, 993,078 shares of Telefonica exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $13.52-$13.65 after having opened the day at $13.59 as compared to the previous trading day's close of $13.26.

Telefonica, S.A. provides fixed and mobile communication services primarily in Europe and Latin America. The company offers mobile voice, value added, mobile data and Internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services, as well as mobile payment solutions. Telefonica has a market cap of $59.0 billion and is part of the telecommunications industry. Shares are down 1.7% year to date as of the close of trading on Monday. Currently there are 2 analysts that rate Telefonica a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Telefonica as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, increase in stock price during the past year and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins. Get the full Telefonica 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, Telefonica Brasil S.A ( VIV) is up $0.24 (1.1%) to $22.52 on average volume. Thus far, 743,796 shares of Telefonica Brasil S.A exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $22.35-$22.56 after having opened the day at $22.46 as compared to the previous trading day's close of $22.28.

Telefonica Brasil S.A. provides fixed-line telecommunications services to residential and commercial customers in Brazil. Telefonica Brasil S.A has a market cap of $24.4 billion and is part of the telecommunications industry. Shares are down 7.4% year to date as of the close of trading on Monday. Currently there are 6 analysts that rate Telefonica Brasil S.A a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Telefonica Brasil S.A 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Telefonica Brasil S.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.

3. As of noon trading, Sourcefire ( FIRE) is up $16.40 (27.8%) to $75.48 on heavy volume. Thus far, 10.2 million shares of Sourcefire exchanged hands as compared to its average daily volume of 583,300 shares. The stock has ranged in price between $75.42-$75.95 after having opened the day at $75.90 as compared to the previous trading day's close of $59.08.

Sourcefire, Inc. provides intelligent cybersecurity technologies worldwide. Sourcefire has a market cap of $1.9 billion and is part of the computer software & services industry. Shares are up 26.6% year to date as of the close of trading on Monday. Currently there are 6 analysts that rate Sourcefire a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Sourcefire 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, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Sourcefire 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, America Movil S.A.B. de C.V ( AMX) is up $0.09 (0.4%) to $21.18 on light volume. Thus far, 2.4 million shares of America Movil S.A.B. de C.V exchanged hands as compared to its average daily volume of 6.8 million shares. The stock has ranged in price between $21.06-$21.34 after having opened the day at $21.33 as compared to the previous trading day's close of $21.09.

America Movil, S.A.B. de C.V. provides telecommunications services in the United States, Latin America, and the Caribbean. It offers mobile and fixed voice services, including airtime, local, long-distance services, public telephony services, and network interconnection services. America Movil S.A.B. de C.V has a market cap of $78.8 billion and is part of the telecommunications industry. Shares are down 10.2% year to date as of the close of trading on Monday. Currently there are 2 analysts that rate America Movil S.A.B. de C.V a buy, 1 analyst rates it a sell, and 6 rate it a hold.

TheStreet Ratings rates America Movil S.A.B. de C.V as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and a generally disappointing performance in the stock itself. Get the full America Movil S.A.B. de C.V 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, Salesforce.com ( CRM) is up $0.86 (2.1%) to $42.90 on light volume. Thus far, 2.3 million shares of Salesforce.com exchanged hands as compared to its average daily volume of 6.5 million shares. The stock has ranged in price between $42.01-$43.05 after having opened the day at $42.13 as compared to the previous trading day's close of $42.04.

salesforce.com, inc. provides enterprise cloud computing solutions to various businesses and industries worldwide. Salesforce.com has a market cap of $25.2 billion and is part of the computer software & services industry. Shares are up 0.0% year to date as of the close of trading on Monday. Currently there are 27 analysts that rate Salesforce.com a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates Salesforce.com as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations 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 feeble growth in the company's earnings per share. Get the full Salesforce.com 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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