3 Stocks Pushing The Technology Sector Downward

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 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.

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, Taiwan Semiconductor Manufacturing ( TSM) is down $0.28 (-1.3%) to $20.44 on average volume. Thus far, 5.6 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 11.6 million shares. The stock has ranged in price between $20.26-$20.52 after having opened the day at $20.40 as compared to the previous trading day's close of $20.72.

Taiwan Semiconductor Manufacturing Company Limited is engaged in manufacturing, selling, packaging, testing, and computer-aided designing integrated circuits and other semiconductor devices. It also manufactures masks. Taiwan Semiconductor Manufacturing has a market cap of $107.4 billion and is part of the electronics industry. Shares are up 18.8% year-to-date as of the close of trading on Thursday. Currently there is 1 analyst that rates Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Taiwan Semiconductor Manufacturing as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Taiwan Semiconductor Manufacturing 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, Qihoo 360 Technology ( QIHU) is down $2.22 (-2.4%) to $91.63 on average volume. Thus far, 1.7 million shares of Qihoo 360 Technology exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $88.50-$94.04 after having opened the day at $94.04 as compared to the previous trading day's close of $93.85.

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 $11.5 billion and is part of the internet industry. Shares are up 14.4% year-to-date as of the close of trading on Thursday. Currently there are 9 analysts that 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, growth in earnings per share and compelling growth in net income. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Qihoo 360 Technology 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).

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