4 Technology Stocks Nudging The Sector Higher

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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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