5 Stocks Dragging 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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 24 points (-0.2%) at 15,303 as of Thursday, Sept. 12, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 960 issues advancing vs. 1,922 declining with 143 unchanged.

The Technology sector currently sits down 0.3% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include LG.Display Company ( LPL), down 4.4%, China Telecom ( CHA), down 3.6%, Rogers Communications ( RCI), down 2.6%, Wipro ( WIT), down 2.4% and Crown Castle International ( CCI), down 2.2%. Top gainers within the sector include Nokia Oyj ( NOK), up 5.2%, ASML ( ASML), up 4.2%, Qualcomm ( QCOM), up 1.3%, Sap ( SAP), up 1.3% and AT&T ( T), up 1.1%.

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

5. Corning ( GLW) is one of the companies pushing the Technology sector lower today. As of noon trading, Corning is down $0.44 (-3.0%) to $14.44 on heavy volume. Thus far, 8.9 million shares of Corning exchanged hands as compared to its average daily volume of 10.2 million shares. The stock has ranged in price between $14.41-$14.89 after having opened the day at $14.88 as compared to the previous trading day's close of $14.89.

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 $21.7 billion and is part of the electronics industry. Shares are up 17.7% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Corning a buy, 1 analyst rates it a sell, and 5 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, expanding profit margins, solid stock price performance and growth in earnings per share. 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.

4. As of noon trading, Taiwan Semiconductor Manufacturing ( TSM) is down $0.12 (-0.7%) to $17.32 on light volume. Thus far, 3.3 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 11.8 million shares. The stock has ranged in price between $17.22-$17.48 after having opened the day at $17.39 as compared to the previous trading day's close of $17.44.

Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices. Taiwan Semiconductor Manufacturing has a market cap of $90.6 billion and is part of the electronics industry. Shares are up 1.9% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Taiwan Semiconductor Manufacturing as a buy. 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, notable return on equity, solid stock price performance and impressive record of earnings per share growth. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Taiwan Semiconductor Manufacturing 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, LinkedIn ( LNKD) is down $4.28 (-1.7%) to $251.86 on average volume. Thus far, 813,238 shares of LinkedIn exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $251.26-$257.20 after having opened the day at $256.58 as compared to the previous trading day's close of $256.14.

LinkedIn Corporation operates an online professional network. LinkedIn has a market cap of $23.7 billion and is part of the internet industry. Shares are up 119.6% year to date as of the close of trading on Wednesday. Currently there are 17 analysts that rate LinkedIn a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates LinkedIn as a sell. The area that we feel has been the company's primary weakness has been its disappointing return on equity. Get the full LinkedIn 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, Baidu ( BIDU) is down $2.49 (-1.7%) to $144.82 on average volume. Thus far, 1.9 million shares of Baidu exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $143.60-$147.60 after having opened the day at $147.37 as compared to the previous trading day's close of $147.31.

Baidu, Inc. provides Chinese language Internet search services. It also offers a Chinese language search platform for businesses to reach their customers. Baidu has a market cap of $49.2 billion and is part of the internet industry. Shares are up 40.2% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate Baidu a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Baidu as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, solid stock price performance, 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 Baidu 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, Google ( GOOG) is down $4.29 (-0.5%) to $891.90 on light volume. Thus far, 641,764 shares of Google exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $890.01-$897.90 after having opened the day at $897.40 as compared to the previous trading day's close of $896.19.

Google Inc., a technology company, builds products and provides services to organize the information and make it universally accessible and useful. Google has a market cap of $243.4 billion and is part of the internet industry. Shares are up 25.6% year to date as of the close of trading on Wednesday. Currently there are 25 analysts that rate Google a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Google as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Google 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 4 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

These Stocks Are Getting Roughed Up in Tuesday's Market Selloff

These Stocks Are Getting Roughed Up in Tuesday's Market Selloff

Dow Braces for Second Triple-Digit Decline as Global Stocks Retreat

Dow Braces for Second Triple-Digit Decline as Global Stocks Retreat

Stocks Need to Move Lower to Be Able to Move Higher Again: Market Recon

Stocks Need to Move Lower to Be Able to Move Higher Again: Market Recon

What a Nationalized 5G Plan Would Mean for Google, Comcast, Verizon and Others

What a Nationalized 5G Plan Would Mean for Google, Comcast, Verizon and Others