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.

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, Baidu ( BIDU) is up $6.27 (3.8%) to $173.55 on average volume. Thus far, 1.9 million shares of Baidu exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $167.44-$173.55 after having opened the day at $167.76 as compared to the previous trading day's close of $167.28.

Baidu, Inc. provides Chinese language Internet search services. It also offers a Chinese language search platform for businesses to reach their customers. Baidu has a market cap of $58.9 billion and is part of the internet industry. Shares are up 66.8% year to date as of the close of trading on Thursday. Currently there are 10 analysts that rate Baidu a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Baidu as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, growth in earnings per share, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Baidu 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, Oracle Corporation ( ORCL) is up $0.43 (1.1%) to $38.12 on average volume. Thus far, 7.4 million shares of Oracle Corporation exchanged hands as compared to its average daily volume of 19.5 million shares. The stock has ranged in price between $37.78-$38.22 after having opened the day at $37.89 as compared to the previous trading day's close of $37.69.

Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems. Oracle Corporation has a market cap of $167.8 billion and is part of the computer software & services industry. Shares are up 13.1% year to date as of the close of trading on Thursday. Currently there are 17 analysts that rate Oracle Corporation a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates Oracle Corporation as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, attractive valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Oracle Corporation 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, Qualcomm ( QCOM) is up $0.42 (0.6%) to $73.90 on light volume. Thus far, 2.0 million shares of Qualcomm exchanged hands as compared to its average daily volume of 10.1 million shares. The stock has ranged in price between $73.66-$74.02 after having opened the day at $73.75 as compared to the previous trading day's close of $73.48.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $123.4 billion and is part of the telecommunications industry. Shares are up 18.8% year to date as of the close of trading on Thursday. Currently there are 21 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Qualcomm 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, impressive record of earnings per share growth and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Qualcomm 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, Cisco Systems ( CSCO) is up $0.13 (0.6%) to $21.93 on light volume. Thus far, 9.1 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 46.6 million shares. The stock has ranged in price between $21.78-$22.00 after having opened the day at $21.79 as compared to the previous trading day's close of $21.80.

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 $116.0 billion and is part of the computer hardware industry. Shares are up 10.9% year to date as of the close of trading on Thursday. Currently there are 19 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.

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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