5 Stocks Dragging 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 12 points (0.1%) at 14,943 as of Thursday, Sept. 5, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,432 issues advancing vs. 1,453 declining with 120 unchanged.

The Technology sector currently sits up 0.7% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the sector include Sap ( SAP), down 2.4%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.5%, NTT DoCoMo ( DCM), down 1.3%, AT&T ( T), down 1.1% and Baidu ( BIDU), down 1.0%. Top gainers within the sector include Telecom Italia SpA ( TI.A), up 10.2%, Telecom Italia SpA ( TI), up 8.7%, Trimble Navigation ( TRMB), up 4.8%, Tim Holding Company ( TSU), up 3.7% and Nokia Oyj ( NOK), up 3.0%.

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

5. LM Ericsson Telephone Company ( ERIC) is one of the companies pushing the Technology sector lower today. As of noon trading, LM Ericsson Telephone Company is down $0.17 (-1.3%) to $12.55 on light volume. Thus far, 890,805 shares of LM Ericsson Telephone Company exchanged hands as compared to its average daily volume of 2.6 million shares. The stock has ranged in price between $12.52-$12.62 after having opened the day at $12.58 as compared to the previous trading day's close of $12.72.

Ericsson provides telecommunications equipment and services to mobile and fixed network operators worldwide. It operates in four segments: Networks, Global Services, Support Solutions, and ST-Ericsson. LM Ericsson Telephone Company has a market cap of $40.9 billion and is part of the telecommunications industry. Shares are up 22.7% year to date as of the close of trading on Wednesday. Currently there are 5 analysts that rate LM Ericsson Telephone Company a buy, 2 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates LM Ericsson Telephone Company as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full LM Ericsson Telephone Company Ratings Report now.

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