5 Technology Stocks Dragging The Sector Down

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 39 points (-0.2%) at 16,431 as of Monday, Jan. 6, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,317 issues advancing vs. 1,618 declining with 151 unchanged.

The Technology sector currently sits down 0.4% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include First Solar ( FSLR), down 9.6%, Stratasys ( SSYS), down 5.1%, 3D Systems Corporation ( DDD), down 4.4%, eBay ( EBAY), down 3.0% and Wipro ( WIT), down 2.5%. A company within the sector that increased today was America Movil S.A.B. de C.V ( AMOV), up 1.0%.

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

5. Mobile Telesystems OJSC ( MBT) is one of the companies pushing the Technology sector lower today. As of noon trading, Mobile Telesystems OJSC is down $0.37 (-1.8%) to $20.76 on light volume. Thus far, 727,450 shares of Mobile Telesystems OJSC exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $20.72-$21.01 after having opened the day at $20.98 as compared to the previous trading day's close of $21.13.

Mobile TeleSystems OJSC provides mobile and fixed voice, broadband, and pay TV, as well as content and entertainment services in Russia, eastern Europe, and central Asia. Mobile Telesystems OJSC has a market cap of $21.3 billion and is part of the telecommunications industry. The company has a P/E ratio of 21.0, above the S&P 500 P/E ratio of 17.7. Shares are down 2.3% year to date as of the close of trading on Friday. Currently there are 4 analysts that rate Mobile Telesystems OJSC a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Mobile Telesystems OJSC as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and feeble growth in the company's earnings per share. Get the full Mobile Telesystems OJSC Ratings Report now.

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