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.

If you liked this article you might like

Wall Street Overlooks Trump's North Korea Threats to Hit New Records

Stocks on Track for Records Even as Trump Goes After North Korea

T-Mobile, Sprint Deal Talk Lead Telecom Stocks to Post Big Gains