3 Stocks Pushing The Technology Sector Lower

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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%. On the negative front, top decliners within the sector include Micron Technology ( MU), down 1.3%, and Telecom Italia SpA ( TI), down 1.3%. 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%.

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 $1.40 (-1.6%) to $86.93 on light volume. Thus far, 765,875 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 $86.55-$88.84 after having opened the day at $88.42 as compared to the previous trading day's close of $88.33.

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 $21.0 billion and is part of the computer hardware industry. Shares are up 5.8% year-to-date as of the close of trading on Wednesday. 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.

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