3 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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 115 points (0.7%) at 16,388 as of Friday, Feb. 28, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,987 issues advancing vs. 938 declining with 158 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is up 0.6%. On the negative front, top decliners within the sector include Baidu ( BIDU), down 3.7%, Salesforce.com ( CRM), down 3.6%, LinkedIn ( LNKD), down 2.3%, America Movil S.A.B. de C.V ( AMX), down 1.9% and America Movil S.A.B. de C.V ( AMOV), down 1.8%. Top gainers within the sector include Mercadolibre ( MELI), up 14.2%, Youku Tudou Inc ADR repr Class A ( YOKU), up 10.4%, 3D Systems Corporation ( DDD), up 3.7%, SK Telecom ( SKM), up 2.0% and Yahoo ( YHOO), up 1.7%.

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

3. Western Digital Corporation ( WDC) is one of the companies pushing the Technology sector lower today. As of noon trading, Western Digital Corporation is down $1.12 (-1.3%) to $87.30 on average volume. Thus far, 1.3 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $86.48-$88.13 after having opened the day at $87.88 as compared to the previous trading day's close of $88.42.

Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content. Western Digital Corporation has a market cap of $21.1 billion and is part of the computer hardware industry. Shares are up 5.4% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates Western Digital Corporation as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Western Digital Corporation 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, Adobe Systems ( ADBE) is down $0.50 (-0.7%) to $69.42 on average volume. Thus far, 1.8 million shares of Adobe Systems exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $69.26-$71.11 after having opened the day at $70.25 as compared to the previous trading day's close of $69.92.

Adobe Systems Incorporated operates as a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing. Adobe Systems has a market cap of $33.7 billion and is part of the computer software & services industry. Shares are up 16.8% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts that rate Adobe Systems a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Adobe Systems as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. Get the full Adobe 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.

1. As of noon trading, SanDisk ( SNDK) is down $1.48 (-1.9%) to $74.80 on average volume. Thus far, 2.3 million shares of SanDisk exchanged hands as compared to its average daily volume of 3.9 million shares. The stock has ranged in price between $74.17-$75.81 after having opened the day at $75.81 as compared to the previous trading day's close of $76.28.

Sandisk Corporation designs, develops, manufactures, and markets flash storage card products that are used in various consumer electronics products. SanDisk has a market cap of $17.3 billion and is part of the computer hardware industry. Shares are up 8.1% year-to-date as of the close of trading on Thursday. Currently there are 13 analysts that rate SanDisk a buy, 3 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates SanDisk 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, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full SanDisk 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).

null

More from Markets

Global Stocks Rally as US-China Trade War Thaws; Dow Could Test 25,000

Global Stocks Rally as US-China Trade War Thaws; Dow Could Test 25,000

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)