Today's Stocks Driving Success For 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.

Two out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading down 3 points (0.0%) at 16,578 as of Thursday, May 1, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,778 issues advancing vs. 1,187 declining with 180 unchanged.

The Technology sector currently sits up 0.8% versus the S&P 500, which is up 0.1%. Top gainers within the sector include Catamaran ( CTRX), up 12.2%, 3D Systems ( DDD), up 7.5%, Vipshop Holdings ( VIPS), up 6.4%, Gartner ( IT), up 6.5% and Qihoo 360 Technology ( QIHU), up 5.7%. On the negative front, top decliners within the sector include JDS Uniphase Corp (CA ( JDSU), down 13.2%, Ansys ( ANSS), down 3.9%, Motorola Solutions ( MSI), down 3.5%, China Telecom ( CHA), down 1.7% and China Unicom (Hong Kong ( CHU), down 1.4%.

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

3. Yelp ( YELP) is one of the companies pushing the Technology sector higher today. As of noon trading, Yelp is up $7.23 (12.4%) to $65.55 on heavy volume. Thus far, 14.4 million shares of Yelp exchanged hands as compared to its average daily volume of 4.8 million shares. The stock has ranged in price between $61.70-$66.69 after having opened the day at $63.25 as compared to the previous trading day's close of $58.32.

Yelp Inc. operates as an online local guide that connects people primarily with boutiques, mechanics, restaurants, and dentists. Yelp has a market cap of $3.6 billion and is part of the internet industry. Shares are down 15.4% year-to-date as of the close of trading on Wednesday. Currently there are 19 analysts who rate Yelp a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Yelp as a sell. The area that we feel has been the company's primary weakness has been its disappointing return on equity. Get the full Yelp 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.

2. As of noon trading, Yahoo ( YHOO) is up $0.54 (1.5%) to $36.49 on average volume. Thus far, 10.7 million shares of Yahoo exchanged hands as compared to its average daily volume of 20.9 million shares. The stock has ranged in price between $36.00-$36.69 after having opened the day at $36.26 as compared to the previous trading day's close of $35.95.

Yahoo! Inc. operates as a technology company worldwide. Yahoo has a market cap of $36.2 billion and is part of the internet industry. The company has a P/E ratio of 31.3, above the S&P 500 P/E ratio of 17.7. Shares are down 11.1% year-to-date as of the close of trading on Wednesday. Currently there are 19 analysts who rate Yahoo a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Yahoo as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Yahoo 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, Facebook ( FB) is up $2.12 (3.5%) to $61.90 on average volume. Thus far, 46.3 million shares of Facebook exchanged hands as compared to its average daily volume of 69.7 million shares. The stock has ranged in price between $60.21-$62.28 after having opened the day at $60.43 as compared to the previous trading day's close of $59.78.

Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications. Facebook has a market cap of $115.9 billion and is part of the internet industry. The company has a P/E ratio of 115.3, above the S&P 500 P/E ratio of 17.7. Shares are up 6.4% year-to-date as of the close of trading on Wednesday. Currently there are 31 analysts who rate Facebook a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Facebook as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Facebook 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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