3 Telecommunications Stocks Driving The Industry Higher

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One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 14 points (0.1%) at 16,456 as of Friday, Jan. 3, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,718 issues advancing vs. 1,181 declining with 172 unchanged.

The Telecommunications industry currently sits up 0.5% versus the S&P 500, which is unchanged. Top gainers within the industry include Portugal Telecom ( PT), up 9.5%, Telecom Italia SpA ( TI), up 8.1% and Telecom Italia SpA ( TI.A), up 6.3%. A company within the industry that fell today was China Telecom ( CHA), up 1.3%.

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

3. Oi ( OIBR) is one of the companies pushing the Telecommunications industry higher today. As of noon trading, Oi is up $0.18 (11.7%) to $1.68 on heavy volume. Thus far, 7.9 million shares of Oi exchanged hands as compared to its average daily volume of 4.3 million shares. The stock has ranged in price between $1.62-$1.68 after having opened the day at $1.65 as compared to the previous trading day's close of $1.50.

Oi S.A., through its subsidiaries, provides integrated telecommunication services for residential customers, companies, and governmental agencies in Brazil. It operates in three segments: Fixed-Line and Data Transmission Services, Mobile Services, and Other Services. Oi has a market cap of $2.6 billion and is part of the technology sector. Shares are down 5.7% year to date as of the close of trading on Thursday. Currently there are no analysts that rate Oi a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Oi as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk and generally disappointing historical performance in the stock itself. Get the full Oi Ratings Report now.

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