3 Stocks Raising 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 58 points (-0.4%) at 15,461 as of Wednesday, Aug. 7, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 785 issues advancing vs. 2,161 declining with 94 unchanged.

The Technology sector currently sits up 1.1% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Voltari ( VLTC), up 1632.4%, CSR ( CSRE), up 178.3%, Sapient Corporation ( SAPE), up 13.9%, Computer Sciences Corporation ( CSC), up 5.9% and Telecom Italia SpA ( TI), up 4.8%. On the negative front, top decliners within the sector include SunEdison ( SUNE), down 24.1%, SunPower Corporation ( SPWR), down 11.3%, United Microelectronics ( UMC), down 4.6%, Micron Technology ( MU), down 2.4% and Taiwan Semiconductor Manufacturing ( TSM), down 2.4%.

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

3. VimpelCom ( VIP) is one of the companies pushing the Technology sector higher today. As of noon trading, VimpelCom is up $0.50 (5.1%) to $10.38 on heavy volume. Thus far, 1.3 million shares of VimpelCom exchanged hands as compared to its average daily volume of 1.0 million shares. The stock has ranged in price between $9.90-$10.45 after having opened the day at $9.92 as compared to the previous trading day's close of $9.88.

VimpelCom Ltd., a telecommunications service operator, provides voice and data services through a range of traditional and broadband mobile and fixed technologies. VimpelCom has a market cap of $16.2 billion and is part of the telecommunications industry. Shares are down 5.9% year to date as of the close of trading on Tuesday. Currently there is 1 analyst that rates VimpelCom a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates VimpelCom as a hold. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and weak operating cash flow. Get the full VimpelCom 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, Telefonica ( TEF) is up $0.16 (1.2%) to $14.40 on average volume. Thus far, 541,919 shares of Telefonica exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $14.29-$14.42 after having opened the day at $14.31 as compared to the previous trading day's close of $14.23.

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 $65.6 billion and is part of the telecommunications industry. Shares are up 5.6% year to date as of the close of trading on Tuesday. Currently there are 2 analysts that rate Telefonica a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates Telefonica as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, 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.

1. As of noon trading, Finisar Corporation ( FNSR) is up $2.75 (14.4%) to $21.88 on heavy volume. Thus far, 5.4 million shares of Finisar Corporation exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $21.30-$22.65 after having opened the day at $21.78 as compared to the previous trading day's close of $19.13.

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, Malaysia, China, and internationally. Finisar Corporation has a market cap of $1.9 billion and is part of the computer hardware industry. Shares are up 17.4% year to date as of the close of trading on Tuesday. Currently there are 7 analysts that rate Finisar Corporation a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Finisar Corporation as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. Get the full Finisar 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).

null

More from Markets

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing