3 Telecommunications Stocks Pushing Industry Growth

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 105 points (0.6%) at 16,554 as of Tuesday, April 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,226 issues advancing vs. 749 declining with 155 unchanged.

The Telecommunications industry currently sits up 0.9% versus the S&P 500, which is up 0.6%. Top gainers within the industry include Telecom Italia SpA ( TI.A), up 3.4%, Telecom Italia SpA ( TI), up 3.0% and American Tower ( AMT), up 0.9%. A company within the industry that fell today was America Movil S.A.B. de C.V ( AMOV), up 1.3%.

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

3. LM Ericsson Telephone Company ( ERIC) is one of the companies pushing the Telecommunications industry higher today. As of noon trading, LM Ericsson Telephone Company is up $0.10 (0.8%) to $13.02 on light volume. Thus far, 1.6 million shares of LM Ericsson Telephone Company exchanged hands as compared to its average daily volume of 4.2 million shares. The stock has ranged in price between $13.01-$13.17 after having opened the day at $13.16 as compared to the previous trading day's close of $12.91.

Ericsson provides telecommunications equipment and services to mobile and fixed network operators worldwide. It operates through four segments: Networks, Global Services, Support Solutions, and Modems. LM Ericsson Telephone Company has a market cap of $42.7 billion and is part of the technology sector. Shares are up 5.5% year-to-date as of the close of trading on Monday. Currently there are 5 analysts who rate LM Ericsson Telephone Company a buy, 2 analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates LM Ericsson Telephone Company as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full LM Ericsson Telephone Company Ratings Report now.

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