Today's Stocks Driving Success For The Technology Sector

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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 4 points (0.0%) at 15,449 as of Wednesday, Feb. 5, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 771 issues advancing vs. 2,156 declining with 142 unchanged.

The Technology sector currently sits down 1.3% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Telecom Italia SpA ( TI), up 2.1%, Corning ( GLW), up 1.4%, ABB ( ABB), up 1.1%, Adobe Systems ( ADBE), up 0.8% and ASML ( ASML), up 0.6%. On the negative front, top decliners within the sector include 3D Systems Corporation ( DDD), down 18.8%, SouFun Holdings ( SFUN), down 8.1%, Cerner Corporation ( CERN), down 6.1%, SolarCity ( SCTY), down 5.9% and Cognizant Technology Solutions Corporation ( CTSH), down 5.3%.

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

3. Level 3 Communications ( LVLT) is one of the companies pushing the Technology sector higher today. As of noon trading, Level 3 Communications is up $2.54 (8.1%) to $33.95 on heavy volume. Thus far, 2.5 million shares of Level 3 Communications exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $32.59-$34.83 after having opened the day at $32.64 as compared to the previous trading day's close of $31.41.

Level 3 Communications, Inc., together with its subsidiaries, operates as a facilities-based provider of a range of integrated communications services primarily in North America, Latin America, and Europe. Level 3 Communications has a market cap of $6.9 billion and is part of the telecommunications industry. Shares are down 5.3% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts who rate Level 3 Communications a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Level 3 Communications as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and good cash flow from operations. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet. Get the full Level 3 Communications Ratings Report now.

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