NOK, QIHU And GLW, Pushing 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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 58 points (0.4%) at 15,069 as of Tuesday, Aug. 20, 2013, 1:04 PM ET. The NYSE advances/declines ratio sits at 2,347 issues advancing vs. 659 declining with 81 unchanged.

The Technology sector currently sits up 0.7% versus the S&P 500, which is up 0.6%. On the negative front, top decliners within the sector include Philippine Long Distance Telephone ( PHI), down 3.3%, China Unicom (Hong Kong ( CHU), down 1.7%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.6%, Thomson Reuters Corporation ( TRI), down 0.9% and Telefonica ( TEF), down 0.6%. Top gainers within the sector include NetEase ( NTES), up 7.8%, Nielsen Holdings ( NLSN), up 4.3%, Mobile Telesystems OJSC ( MBT), up 3.9%, Electronic Arts ( EA), up 3.7% and America Movil S.A.B. de C.V ( AMX), up 3.3%.

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

3. Nokia Oyj ( NOK) is one of the companies pushing the Technology sector lower today. As of noon trading, Nokia Oyj is down $0.07 (-1.7%) to $4.06 on average volume. Thus far, 11.8 million shares of Nokia Oyj exchanged hands as compared to its average daily volume of 25.3 million shares. The stock has ranged in price between $4.03-$4.09 after having opened the day at $4.04 as compared to the previous trading day's close of $4.13.

Nokia Corporation operates as a mobile communications company worldwide. It operates in three segments: Devices & Services, HERE, and Nokia Siemens Networks. Nokia Oyj has a market cap of $15.5 billion and is part of the telecommunications industry. Shares are up 4.8% year to date as of the close of trading on Monday. Currently there are 5 analysts that rate Nokia Oyj a buy, 8 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Nokia Oyj as a sell. Among the areas we feel are negative, one of the most important has been weak operating cash flow. Get the full Nokia Oyj 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, Qihoo 360 Technology ( QIHU) is down $2.57 (-3.5%) to $70.90 on heavy volume. Thus far, 2.3 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 $70.25-$72.48 after having opened the day at $71.71 as compared to the previous trading day's close of $73.47.

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 $8.5 billion and is part of the internet industry. Shares are up 133.9% year to date as of the close of trading on Monday. 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.

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, Corning ( GLW) is down $0.20 (-1.4%) to $14.52 on average volume. Thus far, 6.0 million shares of Corning exchanged hands as compared to its average daily volume of 11.0 million shares. The stock has ranged in price between $14.47-$14.75 after having opened the day at $14.73 as compared to the previous trading day's close of $14.72.

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 $21.9 billion and is part of the electronics industry. Shares are up 19.1% 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 4 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.

If you are interested in one of these 5 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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