3 Stocks Driving 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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 90 points (-0.6%) at 15,522 as of Tuesday, Aug. 6, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 580 issues advancing vs. 2,389 declining with 97 unchanged.

The Technology sector currently sits up 1.7% versus the S&P 500, which is down 0.6%. Top gainers within the sector include Voltari ( VLTC), up 1747.9%, CSR ( CSRE), up 176.6%, eBay ( EBAY), up 1.7%, NTT DoCoMo ( DCM), up 1.3% and Nippon Telegraph & Telephone ( NTT), up 1.1%. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI), down 2.6%, Activision Blizzard ( ATVI), down 2.5%, International Business Machines ( IBM), down 2.2%, Telefonica Brasil S.A ( VIV), down 1.5% and Thomson Reuters Corporation ( TRI), down 1.2%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. LM Ericsson Telephone Company ADR Class B ( ERIC) is one of the companies pushing the Technology sector higher today. As of noon trading, LM Ericsson Telephone Company ADR Class B is up $0.08 (0.7%) to $12.00 on average volume. Thus far, 1.2 million shares of LM Ericsson Telephone Company ADR Class B exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $11.97-$12.11 after having opened the day at $12.09 as compared to the previous trading day's close of $11.92.

Ericsson provides telecommunications equipment and services to mobile and fixed network operators worldwide. It operates in four segments: Networks, Global Services, Support Solutions, and ST-Ericsson. LM Ericsson Telephone Company ADR Class B has a market cap of $39.4 billion and is part of the telecommunications industry. Shares are up 18.0% year to date as of the close of trading on Monday. Currently there are 5 analysts that rate LM Ericsson Telephone Company ADR Class B a buy, 2 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates LM Ericsson Telephone Company ADR Class B 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 good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full LM Ericsson Telephone Company ADR Class B Ratings Report now.

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2. As of noon trading, Cognizant Technology Solutions Corporation ( CTSH) is up $2.38 (3.2%) to $75.79 on heavy volume. Thus far, 2.7 million shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $73.87-$76.08 after having opened the day at $75.72 as compared to the previous trading day's close of $73.41.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Manufacturing, Retail, and Logistics; and Other. Cognizant Technology Solutions Corporation has a market cap of $22.2 billion and is part of the computer software & services industry. Shares are down 0.6% year to date as of the close of trading on Monday. Currently there are 16 analysts that rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Cognizant Technology Solutions Corporation 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, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Cognizant Technology Solutions Corporation Ratings Report now.

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1. As of noon trading, Oracle Corporation ( ORCL) is up $0.32 (1.0%) to $33.10 on average volume. Thus far, 10.9 million shares of Oracle Corporation exchanged hands as compared to its average daily volume of 28.0 million shares. The stock has ranged in price between $32.70-$33.22 after having opened the day at $32.75 as compared to the previous trading day's close of $32.78.

Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems. Oracle Corporation has a market cap of $151.7 billion and is part of the computer software & services industry. Shares are down 1.6% year to date as of the close of trading on Monday. Currently there are 21 analysts that rate Oracle Corporation a buy, 1 analyst rates it a sell, and 9 rate it a hold.

TheStreet Ratings rates Oracle Corporation as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, attractive valuation levels and expanding profit margins. 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 Oracle 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.

If you are interested in one of these 3 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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