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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 63 points (0.4%) at 14,888 as of Thursday, Aug. 29, 2013, 12:45 PM ET. The NYSE advances/declines ratio sits at 1,979 issues advancing vs. 942 declining with 102 unchanged.

The Technology sector currently sits up 1.1% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the sector include ABB ( ABB), down 1.6%, and Sap ( SAP), down 0.7%. Top gainers within the sector include Verizon Communications ( VZ), up 3.6%, Activision Blizzard ( ATVI), up 3.0%, Taiwan Semiconductor Manufacturing ( TSM), up 2.5%, BT Group ( BT), up 2.3% and BCE ( BCE), up 1.9%.

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

5. Telefonica ( TEF) is one of the companies pushing the Technology sector lower today. As of noon trading, Telefonica is down $0.12 (-0.8%) to $13.76 on average volume. Thus far, 528,391 shares of Telefonica exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $13.72-$13.83 after having opened the day at $13.77 as compared to the previous trading day's close of $13.88.

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 $65.1 billion and is part of the telecommunications industry. Shares are up 3.2% year to date as of the close of trading on Wednesday. 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 increase in stock price during the past year. 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.

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, Siemens ( SI) is down $0.75 (-0.7%) to $107.86 on average volume. Thus far, 257,227 shares of Siemens exchanged hands as compared to its average daily volume of 404,100 shares. The stock has ranged in price between $106.79-$107.98 after having opened the day at $107.02 as compared to the previous trading day's close of $108.61.

Siemens Aktiengesellschaft, an electronics and electrical engineering company, operates in the energy, healthcare, industry, and infrastructure and cities sectors worldwide. Siemens has a market cap of $93.3 billion and is part of the industrial industry. Shares are down 0.6% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Siemens a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Siemens as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, compelling growth in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Siemens 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, Western Digital Corporation ( WDC) is down $2.14 (-3.4%) to $60.32 on heavy volume. Thus far, 2.4 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $59.36-$62.02 after having opened the day at $62.02 as compared to the previous trading day's close of $62.46.

Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content. Western Digital Corporation has a market cap of $15.4 billion and is part of the computer hardware industry. Shares are up 44.6% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate Western Digital Corporation a buy, 2 analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Western Digital Corporation as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Western Digital Corporation 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, Seagate Technology ( STX) is down $1.34 (-3.4%) to $37.54 on heavy volume. Thus far, 3.5 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $37.17-$38.63 after having opened the day at $38.57 as compared to the previous trading day's close of $38.87.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. Seagate Technology has a market cap of $14.3 billion and is part of the computer hardware industry. Shares are up 31.8% year to date as of the close of trading on Wednesday. Currently there are 4 analysts that rate Seagate Technology a buy, 3 analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Seagate 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, Intel ( INTC) is down $0.15 (-0.7%) to $22.14 on light volume. Thus far, 13.7 million shares of Intel exchanged hands as compared to its average daily volume of 40.1 million shares. The stock has ranged in price between $22.11-$22.44 after having opened the day at $22.24 as compared to the previous trading day's close of $22.28.

Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. The company operates through PC Client Group, Data Center Group, Other Intel Architecture, Software and Services, and All Other segments. Intel has a market cap of $111.0 billion and is part of the electronics industry. Shares are up 8.0% year to date as of the close of trading on Wednesday. Currently there are 9 analysts that rate Intel a buy, 5 analysts rate it a sell, and 20 rate it a hold.

TheStreet Ratings rates Intel as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Intel 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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