5 Technology Stocks Driving The Sector Higher

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 27 points (-0.2%) at 15,858 as of Tuesday, Dec. 17, 2013, 11:55 AM ET. The NYSE advances/declines ratio sits at 997 issues advancing vs. 1,953 declining with 153 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is down 0.5%. Top gainers within the sector include Frontier Communications Corp Class B ( FTR), up 8.3%, Avago Technologies ( AVGO), up 6.5%, SouFun Holdings ( SFUN), up 4.7%, Advanced Semiconductor Engineering ( ASX), up 4.5% and CGI Group ( GIB), up 2.9%. On the negative front, top decliners within the sector include CGG ( CGG), down 16.9%, FactSet Research Systems ( FDS), down 5.2%, Turkcell Iletisim Hizmetleri AS ( TKC), down 3.0%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 2.6% and Kyocera Corporation ( KYO), down 1.6%.

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

5. Seagate Technology ( STX) is one of the companies pushing the Technology sector higher today. As of noon trading, Seagate Technology is up $1.44 (2.8%) to $52.77 on average volume. Thus far, 1.9 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $51.43-$53.25 after having opened the day at $51.70 as compared to the previous trading day's close of $51.34.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. Seagate Technology has a market cap of $16.3 billion and is part of the computer hardware industry. The company has a P/E ratio of 11.0, below the S&P 500 P/E ratio of 17.7. Shares are up 64.4% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate Seagate Technology a buy, 2 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Seagate Technology as a buy. 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 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 Seagate Technology 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.

4. As of noon trading, Salesforce.com ( CRM) is up $0.43 (0.8%) to $51.59 on average volume. Thus far, 2.4 million shares of Salesforce.com exchanged hands as compared to its average daily volume of 4.9 million shares. The stock has ranged in price between $50.80-$52.17 after having opened the day at $51.23 as compared to the previous trading day's close of $51.16.

salesforce.com, inc. provides enterprise cloud computing solutions to various businesses and industries worldwide. Salesforce.com has a market cap of $30.8 billion and is part of the computer software & services industry. Shares are up 21.7% year to date as of the close of trading on Monday. Currently there are 22 analysts that rate Salesforce.com a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates Salesforce.com as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in stock price during the past year and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet. Get the full Salesforce.com 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.

3. As of noon trading, Hewlett-Packard ( HPQ) is up $0.66 (2.5%) to $27.56 on average volume. Thus far, 8.6 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 $27.33-$27.86 after having opened the day at $27.54 as compared to the previous trading day's close of $26.90.

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 $51.4 billion and is part of the computer hardware industry. The company has a P/E ratio of 10.2, below the S&P 500 P/E ratio of 17.7. Shares are up 87.9% year to date as of the close of trading on Monday. 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.

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, Cisco Systems ( CSCO) is up $0.28 (1.4%) to $20.96 on light volume. Thus far, 16.6 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 45.4 million shares. The stock has ranged in price between $20.68-$21.05 after having opened the day at $20.74 as compared to the previous trading day's close of $20.68.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. Cisco Systems has a market cap of $108.2 billion and is part of the computer hardware industry. The company has a P/E ratio of 11.0, below the S&P 500 P/E ratio of 17.7. Shares are up 3.0% year to date as of the close of trading on Monday. Currently there are 20 analysts that rate Cisco Systems a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Cisco Systems 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, attractive valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Cisco Systems 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, Facebook Inc Class A ( FB) is up $0.79 (1.5%) to $54.60 on average volume. Thus far, 44.9 million shares of Facebook Inc Class A exchanged hands as compared to its average daily volume of 77.6 million shares. The stock has ranged in price between $54.24-$55.18 after having opened the day at $54.76 as compared to the previous trading day's close of $53.81.

Facebook, Inc. operates as a social networking company worldwide. It builds various tools that enable users to connect, share, discover, and communicate with each other on mobile devices and computers. Facebook Inc Class A has a market cap of $99.9 billion and is part of the internet industry. The company has a P/E ratio of 130.1, above the S&P 500 P/E ratio of 17.7. Shares are up 102.1% year to date as of the close of trading on Monday. Currently there are 27 analysts that rate Facebook Inc Class A a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Facebook Inc Class A 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 impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. Get the full Facebook Inc Class A 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 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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