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 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.

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, Automatic Data Processing ( ADP) is down $0.86 (-1.1%) to $78.80 on average volume. Thus far, 808,137 shares of Automatic Data Processing exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $78.56-$79.77 after having opened the day at $79.70 as compared to the previous trading day's close of $79.66.

Automatic Data Processing, Inc., together with its subsidiaries, provides technology-based outsourcing solutions to employers and vehicle retailers and manufacturers worldwide. Automatic Data Processing has a market cap of $37.8 billion and is part of the computer software & services industry. The company has a P/E ratio of 27.5, above the S&P 500 P/E ratio of 17.7. Shares are up 39.9% year to date as of the close of trading on Friday. Currently there are 5 analysts that rate Automatic Data Processing a buy, 2 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Automatic Data Processing as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, growth in earnings per share and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Automatic Data Processing 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, Cognizant Technology Solutions Corporation ( CTSH) is down $1.55 (-1.6%) to $94.65 on light volume. Thus far, 551,649 shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $94.51-$96.59 after having opened the day at $96.34 as compared to the previous trading day's close of $96.20.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Manufacturing, Retail, and Logistics; and Other. Cognizant Technology Solutions Corporation has a market cap of $28.4 billion and is part of the computer software & services industry. The company has a P/E ratio of 24.1, above the S&P 500 P/E ratio of 17.7. Shares are up 30.2% year to date as of the close of trading on Friday. Currently there are 14 analysts that rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Cognizant Technology Solutions Corporation 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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Cognizant Technology Solutions Corporation 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, Hewlett-Packard ( HPQ) is down $0.27 (-1.0%) to $27.28 on average volume. Thus far, 6.9 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 16.4 million shares. The stock has ranged in price between $27.20-$27.68 after having opened the day at $27.61 as compared to the previous trading day's close of $27.55.

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 $52.4 billion and is part of the computer hardware industry. The company has a P/E ratio of 10.4, below the S&P 500 P/E ratio of 17.7. Shares are up 94.4% year to date as of the close of trading on Friday. Currently there are 3 analysts that rate Hewlett-Packard a buy, 3 analysts rate it a sell, and 13 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, 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, weak operating cash flow and generally higher debt management risk. 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.

1. As of noon trading, EMC Corporation ( EMC) is down $0.28 (-1.2%) to $23.72 on average volume. Thus far, 8.1 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 20.6 million shares. The stock has ranged in price between $23.68-$24.09 after having opened the day at $24.01 as compared to the previous trading day's close of $24.00.

EMC Corporation, together with its subsidiaries, develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. EMC Corporation has a market cap of $49.2 billion and is part of the computer hardware industry. The company has a P/E ratio of 19.1, above the S&P 500 P/E ratio of 17.7. Shares are down 5.1% year to date as of the close of trading on Friday. Currently there are 23 analysts that rate EMC Corporation a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates EMC Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full EMC Corporation 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).

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