3 Stocks Pulling 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 90 points (0.6%) at 15,153 as of Tuesday, Sept. 10, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,842 issues advancing vs. 1,092 declining with 95 unchanged.

The Technology sector currently sits up 0.6% versus the S&P 500, which is up 0.5%. A company within the sector that fell today was Amazon.com ( AMZN), up 0.6%. Top gainers within the sector include SouFun Holdings ( SFUN), up 9.0%, Micron Technology ( MU), up 4.8%, Qihoo 360 Technology ( QIHU), up 3.8%, Infosys ( INFY), up 3.5% and Tim Holding Company ( TSU), up 3.3%.

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

3. Wipro ( WIT) is one of the companies pushing the Technology sector lower today. As of noon trading, Wipro is down $0.43 (-4.3%) to $9.61 on heavy volume. Thus far, 698,736 shares of Wipro exchanged hands as compared to its average daily volume of 734,400 shares. The stock has ranged in price between $9.59-$9.96 after having opened the day at $9.95 as compared to the previous trading day's close of $10.04.

Wipro Limited provides information technology (IT) products and services worldwide. It operates in two segments, IT Services and IT Products. Wipro has a market cap of $23.0 billion and is part of the computer software & services industry. Shares are up 14.6% year to date as of the close of trading on Monday. Currently there are no analysts that rate Wipro a buy, 2 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Wipro as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins. Get the full Wipro 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, BlackBerry ( BBRY) is down $0.61 (-5.3%) to $10.92 on heavy volume. Thus far, 21.8 million shares of BlackBerry exchanged hands as compared to its average daily volume of 25.7 million shares. The stock has ranged in price between $10.89-$11.20 after having opened the day at $11.16 as compared to the previous trading day's close of $11.53.

--The company has offices in North America, Europe and Asia Pacific. BlackBerry has a market cap of $5.6 billion and is part of the telecommunications industry. Shares are down 8.7% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate BlackBerry a buy, 12 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates BlackBerry as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and weak operating cash flow. Get the full BlackBerry 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, Hewlett-Packard ( HPQ) is down $0.13 (-0.6%) to $22.23 on average volume. Thus far, 9.9 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 15.1 million shares. The stock has ranged in price between $21.91-$22.42 after having opened the day at $22.07 as compared to the previous trading day's close of $22.36.

Hewlett-Packard Company and its subsidiaries provide products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $43.2 billion and is part of the computer hardware industry. Shares are up 57.3% year to date as of the close of trading on Monday. Currently there are 3 analysts that rate Hewlett-Packard a buy, 5 analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and weak operating cash flow. Get the full Hewlett-Packard 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).
null

If you liked this article you might like

Infosys Is Tanking Because Its Ex-CEO's Transformation Efforts Are Now in Limbo

Infosys Is Tanking Because Its Ex-CEO's Transformation Efforts Are Now in Limbo

Modi's Visit to Meet Trump Focuses Big Spotlight on the H-1B Visa Debate

Modi's Visit to Meet Trump Focuses Big Spotlight on the H-1B Visa Debate

Infosys Plans To Hire 10,000 Americans After Trump Visa Crackdown

Infosys Plans To Hire 10,000 Americans After Trump Visa Crackdown

White House Name-Checks Infosys, Cognizant Ahead of H-1B Order

White House Name-Checks Infosys, Cognizant Ahead of H-1B Order

Buy Accenture's Stock on Dips

Buy Accenture's Stock on Dips