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.

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