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 15 points (0.1%) at 16,035 as of Monday, Dec. 9, 2013, 11:45 AM ET. The NYSE advances/declines ratio sits at 1,480 issues advancing vs. 1,397 declining with 175 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is up 0.3%. On the negative front, top decliners within the sector include China Telecom ( CHA), down 0.8%, and Amazon.com ( AMZN), down 0.6%. Top gainers within the sector include Micron Technology ( MU), up 4.3%, America Movil S.A.B. de C.V ( AMX), up 2.6%, Nokia Oyj ( NOK), up 2.2%, Mobile Telesystems OJSC ( MBT), up 2.0% and Thomson Reuters Corporation ( TRI), up 1.2%.

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

5. China Unicom (Hong Kong ( CHU) is one of the companies pushing the Technology sector lower today. As of noon trading, China Unicom (Hong Kong is down $0.24 (-1.5%) to $15.48 on light volume. Thus far, 111,901 shares of China Unicom (Hong Kong exchanged hands as compared to its average daily volume of 490,400 shares. The stock has ranged in price between $15.45-$15.58 after having opened the day at $15.58 as compared to the previous trading day's close of $15.72.

China Unicom (Hong Kong) Limited, an investment holding company, engages in the provision of cellular, fixed line, and broadband services in China. China Unicom (Hong Kong has a market cap of $36.5 billion and is part of the telecommunications industry. The company has a P/E ratio of 32.3, above the S&P 500 P/E ratio of 17.7. Shares are down 3.5% year to date as of the close of trading on Friday. Currently there are 3 analysts that rate China Unicom (Hong Kong a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates China Unicom (Hong Kong as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including poor profit margins and a generally disappointing performance in the stock itself. Get the full China Unicom (Hong Kong Ratings Report now.

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