4 Technology Stocks Dragging The Sector Down

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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. 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%. 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%.

TheStreet would like to highlight 4 stocks pushing the sector lower today:

4. CGI Group ( GIB) is one of the companies pushing the Technology sector lower today. As of noon trading, CGI Group is down $1.66 (-4.7%) to $33.97 on average volume. Thus far, 175,121 shares of CGI Group exchanged hands as compared to its average daily volume of 259,000 shares. The stock has ranged in price between $33.89-$35.46 after having opened the day at $35.43 as compared to the previous trading day's close of $35.63.

CGI Group Inc., together with its subsidiaries, provides information technology (IT) and business process services in the Americas, Europe, and the Asia Pacific. CGI Group has a market cap of $9.7 billion and is part of the internet industry. Shares are up 54.0% year to date as of the close of trading on Thursday. Currently there are 8 analysts that rate CGI Group a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates CGI Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, good cash flow from operations, impressive record of earnings per share growth and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full CGI Group Ratings Report now.

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