3 Stocks Pushing The Technology Sector Downward

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 31 points (0.2%) at 16,439 as of Monday, April 21, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,695 issues advancing vs. 1,308 declining with 151 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the sector include AthenaHealth ( ATHN), down 4.9%, Wipro ( WIT), down 2.5%, America Movil S.A.B. de C.V ( AMOV), down 0.8%, Qualcomm ( QCOM), down 0.6% and Nippon Telegraph & Telephone ( NTT), down 0.6%. Top gainers within the sector include Advanced Micro Devices ( AMD), up 11.9%, NetEase ( NTES), up 3.5%, Kyocera Corporation ( KYO), up 2.3%, VimpelCom ( VIP), up 2.2% and Baidu ( BIDU), up 1.4%.

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

3. Telefonica Brasil S.A ( VIV) is one of the companies pushing the Technology sector lower today. As of noon trading, Telefonica Brasil S.A is down $0.35 (-1.7%) to $20.50 on light volume. Thus far, 483,439 shares of Telefonica Brasil S.A exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $20.48-$21.03 after having opened the day at $21.00 as compared to the previous trading day's close of $20.85.

Telefonica Brasil S.A. provides fixed-line telecommunications services to residential and commercial customers in Brazil. Telefonica Brasil S.A has a market cap of $23.4 billion and is part of the telecommunications industry. Shares are up 8.4% year-to-date as of the close of trading on Thursday. Currently there are 5 analysts that rate Telefonica Brasil S.A a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Telefonica Brasil S.A as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Telefonica Brasil S.A Ratings Report now.

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