CHU, TLK And VZ, 3 Telecommunications Stocks Pushing The Industry Lower

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One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading down 29 points (-0.2%) at 16,367 as of Wednesday, March 5, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,229 issues advancing vs. 1,681 declining with 174 unchanged.

The Telecommunications industry currently sits up 0.4% versus the S&P 500, which is unchanged. A company within the industry that fell today was American Tower ( AMT), up 1.3%. A company within the industry that increased today was Telecom Italia SpA ( TI), up 2.4%.

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

3. China Unicom (Hong Kong ( CHU) is one of the companies pushing the Telecommunications industry lower today. As of noon trading, China Unicom (Hong Kong is down $0.42 (-3.1%) to $13.08 on light volume. Thus far, 219,275 shares of China Unicom (Hong Kong exchanged hands as compared to its average daily volume of 614,000 shares. The stock has ranged in price between $13.00-$13.16 after having opened the day at $13.13 as compared to the previous trading day's close of $13.50.

China Unicom (Hong Kong) Limited, an investment holding company, engages in the provision of cellular, fixed line, and broadband services in China. China Unicom (Hong Kong has a market cap of $31.6 billion and is part of the technology sector. Shares are down 11.0% year-to-date as of the close of trading on Tuesday. Currently there are 3 analysts that rate China Unicom (Hong Kong a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates China Unicom (Hong Kong as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins. Get the full China Unicom (Hong Kong Ratings Report now.

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