5 Stocks Pulling The Technology Sector Downward

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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 178 points (-1.1%) at 16,019 as of Friday, Jan. 24, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 350 issues advancing vs. 2,655 declining with 116 unchanged.

The Technology sector currently sits down 2.2% versus the S&P 500, which is down 1.3%. On the negative front, top decliners within the sector include Yandex ( YNDX), down 7.3%, 3D Systems Corporation ( DDD), down 7.1%, Qihoo 360 Technology ( QIHU), down 5.8%, VimpelCom ( VIP), down 5.3% and American Tower ( AMT), down 4.9%. A company within the sector that increased today was Verizon Communications ( VZ), up 0.7%.

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

5. Baidu ( BIDU) is one of the companies pushing the Technology sector lower today. As of noon trading, Baidu is down $1.75 (-1.1%) to $161.83 on heavy volume. Thus far, 3.6 million shares of Baidu exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $159.00-$165.33 after having opened the day at $160.60 as compared to the previous trading day's close of $163.58.

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 $61.0 billion and is part of the internet industry. The company has a P/E ratio of 32.9, above the S&P 500 P/E ratio of 17.7. Shares are down 8.0% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts that rate Baidu a buy, no analysts rate it a sell, and 4 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.

STOCKS TO BUY: 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, Yahoo ( YHOO) is down $1.40 (-3.5%) to $37.99 on heavy volume. Thus far, 12.8 million shares of Yahoo exchanged hands as compared to its average daily volume of 15.8 million shares. The stock has ranged in price between $37.62-$38.98 after having opened the day at $38.67 as compared to the previous trading day's close of $39.39.

Yahoo! Inc., a technology company, provides search, content, and communication tools on the Web and on mobile devices worldwide. Yahoo has a market cap of $40.8 billion and is part of the internet industry. The company has a P/E ratio of 33.8, above the S&P 500 P/E ratio of 17.7. Shares are down 2.6% year-to-date as of the close of trading on Thursday. Currently there are 15 analysts that rate Yahoo a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Yahoo as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Yahoo Ratings Report now.

STOCKS TO BUY: 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, Qualcomm ( QCOM) is down $1.68 (-2.2%) to $74.19 on average volume. Thus far, 4.8 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 $74.08-$75.44 after having opened the day at $75.29 as compared to the previous trading day's close of $75.87.

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 $127.9 billion and is part of the telecommunications industry. The company has a P/E ratio of 19.4, above the S&P 500 P/E ratio of 17.7. Shares are up 2.2% year-to-date as of the close of trading on Thursday. Currently there are 20 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 5 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 increase in net income. 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 Qualcomm Ratings Report now.

STOCKS TO BUY: 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, Micron Technology ( MU) is down $0.63 (-2.7%) to $23.01 on light volume. Thus far, 12.0 million shares of Micron Technology exchanged hands as compared to its average daily volume of 39.4 million shares. The stock has ranged in price between $22.92-$23.65 after having opened the day at $23.50 as compared to the previous trading day's close of $23.64.

Micron Technology, Inc., together with its subsidiaries, manufactures and markets semiconductor solutions worldwide. Micron Technology has a market cap of $25.1 billion and is part of the electronics industry. The company has a P/E ratio of 13.9, below the S&P 500 P/E ratio of 17.7. Shares are up 8.7% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts that rate Micron Technology a buy, 3 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Micron Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Micron Technology Ratings Report now.

STOCKS TO BUY: 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 down $0.20 (-0.9%) to $22.36 on light volume. Thus far, 14.4 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 46.0 million shares. The stock has ranged in price between $22.28-$22.54 after having opened the day at $22.40 as compared to the previous trading day's close of $22.56.

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 $122.1 billion and is part of the computer hardware industry. The company has a P/E ratio of 12.4, below the S&P 500 P/E ratio of 17.7. Shares are up 0.6% year-to-date as of the close of trading on Thursday. Currently there are 18 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.

STOCKS TO BUY: 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 3 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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