5 Stocks Driving The Technology 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.

One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 5 points (0.0%) at 16,485 as of Friday, Dec. 27, 2013, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,370 issues advancing vs. 1,569 declining with 149 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is unchanged. Top gainers within the sector include Alcatel-Lucent ( ALU), up 4.4%, NetEase ( NTES), up 4.3%, Telecom Italia SpA ( TI), up 1.9%, Telecom Italia SpA ( TI.A), up 1.8% and LM Ericsson Telephone Company ( ERIC), up 1.4%. On the negative front, top decliners within the sector include Kyocera Corporation ( KYO), down 1.9%, Amazon.com ( AMZN), down 1.0% and Intel ( INTC), down 0.5%.

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

5. Nokia Oyj ( NOK) is one of the companies pushing the Technology sector higher today. As of noon trading, Nokia Oyj is up $0.16 (2.0%) to $8.05 on light volume. Thus far, 7.1 million shares of Nokia Oyj exchanged hands as compared to its average daily volume of 28.7 million shares. The stock has ranged in price between $7.97-$8.05 after having opened the day at $7.98 as compared to the previous trading day's close of $7.89.

Nokia Corporation operates as a mobile communications company worldwide. It operates in three segments: Devices & Services, HERE, and Nokia Siemens Networks. Nokia Oyj has a market cap of $29.3 billion and is part of the telecommunications industry. Shares are up 99.8% year to date as of the close of trading on Thursday. Currently there are 4 analysts that rate Nokia Oyj a buy, no analysts rate it a sell, and 17 rate it a hold.

TheStreet Ratings rates Nokia Oyj as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and good cash flow from operations. 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 Nokia Oyj Ratings Report now.

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