5 Stocks Pushing The Technology Sector Downward

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%. 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%. 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%.

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

5. BCE ( BCE) is one of the companies pushing the Technology sector lower today. As of noon trading, BCE is down $0.39 (-0.9%) to $41.12 on average volume. Thus far, 412,419 shares of BCE exchanged hands as compared to its average daily volume of 885,800 shares. The stock has ranged in price between $40.69-$41.25 after having opened the day at $41.23 as compared to the previous trading day's close of $41.51.

BCE Inc. provides communications solutions to residential, business, and wholesale customers primarily in Canada. BCE has a market cap of $31.8 billion and is part of the telecommunications industry. Shares are down 3.3% year to date as of the close of trading on Monday. Currently there are 3 analysts that rate BCE a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates BCE as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, expanding profit margins, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full BCE Ratings Report now.

STOCKS TO BUY: 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, Corning ( GLW) is down $0.34 (-2.2%) to $15.00 on average volume. Thus far, 4.8 million shares of Corning exchanged hands as compared to its average daily volume of 11.7 million shares. The stock has ranged in price between $14.98-$15.32 after having opened the day at $15.31 as compared to the previous trading day's close of $15.34.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $22.5 billion and is part of the electronics industry. Shares are up 21.6% year to date as of the close of trading on Monday. Currently there are 9 analysts that rate Corning a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Corning 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, attractive valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Corning Ratings Report now.

STOCKS TO BUY: 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, Taiwan Semiconductor Manufacturing ( TSM) is down $0.19 (-1.1%) to $16.63 on average volume. Thus far, 7.7 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 11.1 million shares. The stock has ranged in price between $16.58-$16.81 after having opened the day at $16.66 as compared to the previous trading day's close of $16.82.

Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices. Taiwan Semiconductor Manufacturing has a market cap of $87.1 billion and is part of the electronics industry. Shares are down 2.0% year to date as of the close of trading on Monday. Currently there are 2 analysts that rate Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Taiwan Semiconductor Manufacturing as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Taiwan Semiconductor Manufacturing Ratings Report now.

STOCKS TO BUY: 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, Emerson Electric ( EMR) is down $0.63 (-1.0%) to $61.71 on average volume. Thus far, 1.5 million shares of Emerson Electric exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $61.30-$62.00 after having opened the day at $61.47 as compared to the previous trading day's close of $62.34.

Emerson Electric Co., a diversified technology company, engages in designing and supplying products and technology, and providing engineering services and solutions to the industrial, commercial, and consumer markets worldwide. Emerson Electric has a market cap of $45.0 billion and is part of the electronics industry. Shares are up 17.7% year to date as of the close of trading on Monday. Currently there are 5 analysts that rate Emerson Electric a buy, no analysts rate it a sell, and 16 rate it a hold.

TheStreet Ratings rates Emerson Electric as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Emerson Electric Ratings Report now.

STOCKS TO BUY: 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, Hewlett-Packard ( HPQ) is down $0.43 (-1.6%) to $26.60 on light volume. Thus far, 5.5 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 16.7 million shares. The stock has ranged in price between $26.49-$27.12 after having opened the day at $27.09 as compared to the previous trading day's close of $27.03.

Hewlett-Packard Company and its subsidiaries provide products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $52.1 billion and is part of the computer hardware industry. Shares are up 89.7% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate Hewlett-Packard a buy, 5 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity. Get the full Hewlett-Packard Ratings Report now.

STOCKS TO BUY: 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).

null

More from Markets

Dow Jumps 238 Points as S&P 500, Nasdaq Also Climb

Dow Jumps 238 Points as S&P 500, Nasdaq Also Climb

Why Nashville, Denver, LA Should Reconsider Bids for Amazon HQ2

Why Nashville, Denver, LA Should Reconsider Bids for Amazon HQ2

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists

Jim Cramer: Visa Is a Technology Company That Masquerades as a Financial Company

Jim Cramer: Visa Is a Technology Company That Masquerades as a Financial Company

Jim Cramer: Chipotle Shares Are Probably Done Going Down

Jim Cramer: Chipotle Shares Are Probably Done Going Down