Technology Stocks On The Rise With Help From 5 Stocks

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 down 10 points (-0.1%) at 15,618 as of Friday, Aug. 2, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,354 issues advancing vs. 1,554 declining with 118 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is down 0.1%. Top gainers within the sector include Hewlett-Packard ( HPQ), up 5.6%, Telefonica Brasil S.A ( VIV), up 1.9%, NTT DoCoMo ( DCM), up 1.6%, Sap ( SAP), up 1.4% and Baidu ( BIDU), up 1.1%. On the negative front, top decliners within the sector include Gartner ( IT), down 6.0%, Telecom Italia SpA ( TI), down 3.7%, Activision Blizzard ( ATVI), down 2.5%, Telecom Italia SpA ( TI.A), down 2.3% and Taiwan Semiconductor Manufacturing ( TSM), down 2.3%.

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

5. Mercadolibre ( MELI) is one of the companies pushing the Technology sector higher today. As of noon trading, Mercadolibre is up $8.25 (6.8%) to $129.72 on heavy volume. Thus far, 1.7 million shares of Mercadolibre exchanged hands as compared to its average daily volume of 597,600 shares. The stock has ranged in price between $128.27-$136.52 after having opened the day at $132.94 as compared to the previous trading day's close of $121.47.

MercadoLibre, Inc. hosts online commerce platforms in Latin America. Its services are designed to provide users with mechanisms for buying, selling, paying, collecting, generating leads, and comparing listings through e-commerce transactions. Mercadolibre has a market cap of $5.2 billion and is part of the internet industry. Shares are up 49.5% year to date as of the close of trading on Thursday. Currently there are 2 analysts that rate Mercadolibre a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Mercadolibre 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, good cash flow from operations, 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 Mercadolibre 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, LinkedIn ( LNKD) is up $23.72 (11.1%) to $236.72 on heavy volume. Thus far, 5.4 million shares of LinkedIn exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $228.80-$237.96 after having opened the day at $233.23 as compared to the previous trading day's close of $213.00.

LinkedIn Corporation operates an online professional network. LinkedIn has a market cap of $18.7 billion and is part of the internet industry. Shares are up 85.5% year to date as of the close of trading on Thursday. Currently there are 15 analysts that rate LinkedIn a buy, no analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates LinkedIn as a sell. Among the areas we feel are negative, one of the most important has been premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full LinkedIn 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 $1.00 (1.5%) to $66.27 on average volume. Thus far, 8.4 million shares of Qualcomm exchanged hands as compared to its average daily volume of 13.6 million shares. The stock has ranged in price between $64.89-$66.32 after having opened the day at $64.89 as compared to the previous trading day's close of $65.27.

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 $110.8 billion and is part of the telecommunications industry. Shares are up 4.4% year to date as of the close of trading on Thursday. 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, notable return on equity, impressive record of earnings per share growth, increase in net income 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 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, Cisco Systems ( CSCO) is up $0.15 (0.6%) to $26.04 on light volume. Thus far, 12.9 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 39.1 million shares. The stock has ranged in price between $25.73-$26.09 after having opened the day at $25.80 as compared to the previous trading day's close of $25.89.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) based networking and other products related to the communications and information technology industries worldwide. Cisco Systems has a market cap of $136.8 billion and is part of the computer hardware industry. Shares are up 30.2% year to date as of the close of trading on Thursday. Currently there are 23 analysts that rate Cisco Systems a buy, 1 analyst rates it a sell, and 6 rate it a hold.

TheStreet Ratings rates Cisco Systems 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 solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Cisco Systems 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, Facebook Inc Class A ( FB) is up $0.46 (1.2%) to $37.95 on heavy volume. Thus far, 47.8 million shares of Facebook Inc Class A exchanged hands as compared to its average daily volume of 48.9 million shares. The stock has ranged in price between $37.50-$38.49 after having opened the day at $37.66 as compared to the previous trading day's close of $37.49.

Facebook, Inc. operates as a social networking company worldwide. It builds various tools that enable users to connect, share, discover, and communicate with each other on mobile devices and computers. Facebook Inc Class A has a market cap of $66.9 billion and is part of the internet industry. Shares are up 38.2% year to date as of the close of trading on Thursday. Currently there are 26 analysts that rate Facebook Inc Class A a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Facebook Inc Class A 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 impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Facebook Inc Class 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.

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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