3 Stocks Advancing 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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 78 points (0.5%) at 16,438 as of Thursday, March 6, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,775 issues advancing vs. 1,148 declining with 152 unchanged.

The Technology sector currently sits up 0.5% versus the S&P 500, which is up 0.4%. Top gainers within the sector include SouFun Holdings ( SFUN), up 4.8%, Vipshop Holdings ( VIPS), up 3.5%, Telefonica ( TEF), up 2.7%, Kyocera Corporation ( KYO), up 2.6% and Taiwan Semiconductor Manufacturing ( TSM), up 2.5%. On the negative front, top decliners within the sector include Micron Technology ( MU), down 1.3%, and Telecom Italia SpA ( TI), down 1.3%.

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

3. Qihoo 360 Technology ( QIHU) is one of the companies pushing the Technology sector higher today. As of noon trading, Qihoo 360 Technology is up $5.46 (4.7%) to $122.14 on heavy volume. Thus far, 2.8 million shares of Qihoo 360 Technology exchanged hands as compared to its average daily volume of 2.9 million shares. The stock has ranged in price between $118.37-$123.43 after having opened the day at $119.00 as compared to the previous trading day's close of $116.68.

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products in the People's Republic of China. Qihoo 360 Technology has a market cap of $14.3 billion and is part of the internet industry. Shares are up 41.5% year-to-date as of the close of trading on Wednesday. Currently there are 8 analysts who rate Qihoo 360 Technology a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Qihoo 360 Technology 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 compelling growth in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. Get the full Qihoo 360 Technology Ratings Report now.

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2. As of noon trading, Baidu ( BIDU) is up $10.68 (6.1%) to $185.25 on heavy volume. Thus far, 4.7 million shares of Baidu exchanged hands as compared to its average daily volume of 3.9 million shares. The stock has ranged in price between $175.01-$185.51 after having opened the day at $175.47 as compared to the previous trading day's close of $174.57.

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 $60.3 billion and is part of the internet industry. Shares are down 3.1% year-to-date as of the close of trading on Wednesday. Currently there are 10 analysts who rate Baidu a buy, no analysts rate it a sell, and 3 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.

3x UPSIDE POTENTIAL: 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, International Business Machines ( IBM) is up $1.19 (0.6%) to $188.33 on light volume. Thus far, 1.5 million shares of International Business Machines exchanged hands as compared to its average daily volume of 5.0 million shares. The stock has ranged in price between $186.90-$188.39 after having opened the day at $187.37 as compared to the previous trading day's close of $187.14.

International Business Machines Corporation provides information technology (IT) products and services worldwide. International Business Machines has a market cap of $194.1 billion and is part of the computer software & services industry. Shares are down 0.6% year-to-date as of the close of trading on Wednesday. Currently there are 4 analysts who rate International Business Machines a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, expanding profit margins, good cash flow from operations, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full International Business Machines Ratings Report now.

3x UPSIDE POTENTIAL: 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).

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