5 Stocks Pushing The Technology Sector Downward

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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.

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