4 Technology Stocks Nudging The 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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 14 points (-0.1%) at 15,098 as of Friday, Aug. 16, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,393 issues advancing vs. 1,555 declining with 92 unchanged.

The Technology sector currently sits up 2.2% versus the S&P 500, which is down 0.1%. Top gainers within the sector include Voltari ( VLTC), up 1517.8%, Aspen Technology ( AZPN), up 9.2%, Cree ( CREE), up 3.2%, Telecom Italia SpA ( TI.A), up 2.5% and Applied Materials ( AMAT), up 2.8%. On the negative front, top decliners within the sector include Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 3.0%, Nippon Telegraph & Telephone ( NTT), down 1.8%, Verizon Communications ( VZ), down 1.8%, America Movil S.A.B. de C.V ( AMX), down 1.3% and Telefonica Brasil S.A ( VIV), down 1.6%.

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

4. Qihoo 360 Technology ( QIHU) is one of the companies pushing the Technology sector higher today. As of noon trading, Qihoo 360 Technology is up $5.97 (9.6%) to $68.51 on heavy volume. Thus far, 3.1 million shares of Qihoo 360 Technology exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $63.10-$69.50 after having opened the day at $63.25 as compared to the previous trading day's close of $62.54.

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products in the People's Republic of China. Qihoo 360 Technology has a market cap of $8.3 billion and is part of the internet industry. Shares are up 110.6% year to date as of the close of trading on Thursday. Currently there are 5 analysts that rate Qihoo 360 Technology a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Qihoo 360 Technology 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 solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and premium valuation. Get the full Qihoo 360 Technology Ratings Report now.

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3. As of noon trading, Xilinx ( XLNX) is up $0.77 (1.8%) to $44.80 on light volume. Thus far, 1.2 million shares of Xilinx exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $44.32-$45.06 after having opened the day at $44.51 as compared to the previous trading day's close of $44.03.

Xilinx, Inc. designs and develops programmable devices and associated technologies worldwide. Xilinx has a market cap of $12.0 billion and is part of the electronics industry. Shares are up 25.7% year to date as of the close of trading on Thursday. Currently there are 9 analysts that rate Xilinx a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Xilinx as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Xilinx 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, Hewlett-Packard ( HPQ) is up $0.40 (1.6%) to $26.36 on average volume. Thus far, 6.4 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 16.3 million shares. The stock has ranged in price between $25.92-$26.57 after having opened the day at $25.95 as compared to the previous trading day's close of $25.95.

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 $52.4 billion and is part of the computer hardware industry. Shares are up 82.1% year to date as of the close of trading on Thursday. Currently there are 3 analysts that rate Hewlett-Packard a buy, 5 analysts rate it a sell, and 12 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.

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 $0.62 (1.7%) to $37.18 on average volume. Thus far, 22.3 million shares of Facebook Inc Class A exchanged hands as compared to its average daily volume of 53.6 million shares. The stock has ranged in price between $36.90-$37.25 after having opened the day at $36.97 as compared to the previous trading day's close of $36.56.

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 $66.6 billion and is part of the internet industry. Shares are up 37.3% 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 4 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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