Today's Stocks Driving Success For The Technology Sector

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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 81 points (-0.5%) at 15,762 as of Thursday, Dec. 12, 2013, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,157 issues advancing vs. 1,771 declining with 147 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is down 0.2%. Top gainers within the sector include Facebook Inc Class A ( FB), up 4.0%, 3D Systems Corporation ( DDD), up 3.8%, Yahoo ( YHOO), up 1.5%, NTT DoCoMo ( DCM), up 0.9% and eBay ( EBAY), up 0.6%. On the negative front, top decliners within the sector include Tim Holding Company ( TSU), down 2.4%, Broadcom Corporation ( BRCM), down 2.4%, Oracle Corporation ( ORCL), down 2.2%, Taiwan Semiconductor Manufacturing ( TSM), down 2.1% and LM Ericsson Telephone Company ( ERIC), down 1.9%.

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

3. Nippon Telegraph & Telephone ( NTT) is one of the companies pushing the Technology sector higher today. As of noon trading, Nippon Telegraph & Telephone is up $0.89 (3.5%) to $26.53 on average volume. Thus far, 168,681 shares of Nippon Telegraph & Telephone exchanged hands as compared to its average daily volume of 225,200 shares. The stock has ranged in price between $26.41-$26.59 after having opened the day at $26.41 as compared to the previous trading day's close of $25.64.

Nippon Telegraph and Telephone Corporation, together with its subsidiaries, provides fixed and mobile voice related services, IP/packet communications services, telecommunications equipment, and system integration and other telecommunications-related services in Japan. Nippon Telegraph & Telephone has a market cap of $57.9 billion and is part of the telecommunications industry. The company has a P/E ratio of 12.4, below the S&P 500 P/E ratio of 17.7. Shares are up 20.6% year to date as of the close of trading on Wednesday. Currently there is 1 analyst that rates Nippon Telegraph & Telephone a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Nippon Telegraph & Telephone as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Nippon Telegraph & Telephone Ratings Report now.

3x UPSIDE POTENTIAL: 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, Rackspace Hosting ( RAX) is up $2.28 (6.8%) to $35.93 on heavy volume. Thus far, 2.7 million shares of Rackspace Hosting exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $33.63-$36.20 after having opened the day at $33.72 as compared to the previous trading day's close of $33.65.

Rackspace Hosting, Inc., through its subsidiaries, provides cloud computing services, managing Web-based IT systems for small and medium-sized businesses, and large enterprises worldwide. Rackspace Hosting has a market cap of $4.6 billion and is part of the computer software & services industry. The company has a P/E ratio of 49.5, above the S&P 500 P/E ratio of 17.7. Shares are down 54.7% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Rackspace Hosting a buy, 2 analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Rackspace Hosting as a hold. 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 and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. Get the full Rackspace Hosting Ratings Report now.

3x UPSIDE POTENTIAL: 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, Yandex ( YNDX) is up $1.55 (4.1%) to $38.97 on heavy volume. Thus far, 4.4 million shares of Yandex exchanged hands as compared to its average daily volume of 2.6 million shares. The stock has ranged in price between $37.45-$38.99 after having opened the day at $37.49 as compared to the previous trading day's close of $37.42.

Yandex N.V. operates an Internet search engine in Russia and internationally. Yandex has a market cap of $10.1 billion and is part of the internet industry. The company has a P/E ratio of 49.2, above the S&P 500 P/E ratio of 17.7. Shares are up 86.1% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Yandex a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Yandex 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. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Yandex Ratings Report now.

3x UPSIDE POTENTIAL: 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 3 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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