5 Technology Stocks Dragging The Sector Down

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 down 18 points (-0.1%) at 15,776 as of Monday, Feb. 10, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,409 issues advancing vs. 1,532 declining with 144 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI.A), down 2.9%, Telecom Italia SpA ( TI), down 2.2%, China Unicom (Hong Kong ( CHU), down 1.9%, America Movil S.A.B. de C.V ( AMOV), down 1.7% and Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.6%. A company within the sector that increased today was Micron Technology ( MU), up 1.7%.

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

5. Telefonica ( TEF) is one of the companies pushing the Technology sector lower today. As of noon trading, Telefonica is down $0.24 (-1.5%) to $15.35 on light volume. Thus far, 318,184 shares of Telefonica exchanged hands as compared to its average daily volume of 994,100 shares. The stock has ranged in price between $15.28-$15.36 after having opened the day at $15.36 as compared to the previous trading day's close of $15.59.

Telefonica, S.A. provides fixed and mobile communication services primarily in Europe and Latin America. The company offers mobile voice, value added, mobile data and Internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services, as well as mobile payment solutions. Telefonica has a market cap of $69.8 billion and is part of the telecommunications industry. Shares are down 4.6% year-to-date as of the close of trading on Friday. Currently there are 2 analysts that rate Telefonica a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates Telefonica as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Telefonica Ratings Report now.

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