4 Stocks Dragging In The Technology Sector

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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 57 points (-0.4%) at 15,601 as of Monday, Aug. 5, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,233 issues advancing vs. 1,686 declining with 120 unchanged.

The Technology sector currently sits up 2.3% versus the S&P 500, which is down 0.2%. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI), down 2.6%, Activision Blizzard ( ATVI), down 2.6%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.8%, China Unicom (Hong Kong ( CHU), down 1.6% and Telefonica Brasil S.A ( VIV), down 1.2%. Top gainers within the sector include Voltari ( VLTC), up 1539.7%, CSR ( CSRE), up 182.0%, BlackBerry ( BBRY), up 7.5%, Facebook Inc Class A ( FB), up 2.9% and Wipro ( WIT), up 1.9%.

TheStreet would like to highlight 4 stocks pushing the sector lower today:

4. ABB ( ABB) is one of the companies pushing the Technology sector lower today. As of noon trading, ABB is down $0.14 (-0.7%) to $22.14 on light volume. Thus far, 405,885 shares of ABB exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $22.06-$22.18 after having opened the day at $22.12 as compared to the previous trading day's close of $22.28.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. ABB has a market cap of $50.8 billion and is part of the industrial industry. Shares are up 7.2% year to date as of the close of trading on Friday. Currently there are 5 analysts that rate ABB a buy, 1 analyst rates it a sell, and 1 rates it a hold.

TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full ABB Ratings Report now.

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