HPQ, EMC And INTC, Pushing 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.

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%. 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%. 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%.

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

3. Hewlett-Packard ( HPQ) is one of the companies pushing the Technology sector lower today. As of noon trading, Hewlett-Packard is down $0.22 (-0.7%) to $32.84 on light volume. Thus far, 3.2 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 13.1 million shares. The stock has ranged in price between $32.81-$33.28 after having opened the day at $33.12 as compared to the previous trading day's close of $33.06.

Hewlett-Packard Company, together with its subsidiaries, provides products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $62.5 billion and is part of the computer hardware industry. The company has a P/E ratio of 11.2, below the S&P 500 P/E ratio of 17.7. Shares are up 18.2% year-to-date as of the close of trading on Wednesday. Currently there are 9 analysts that rate Hewlett-Packard a buy, 2 analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and attractive valuation levels. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. Get the full Hewlett-Packard 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, EMC ( EMC) is down $0.14 (-0.5%) to $25.66 on light volume. Thus far, 7.2 million shares of EMC exchanged hands as compared to its average daily volume of 21.4 million shares. The stock has ranged in price between $25.51-$25.77 after having opened the day at $25.70 as compared to the previous trading day's close of $25.80.

EMC Corporation develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. It operates in three segments: Information Storage, Information Intelligence Group, and RSA Information Security. EMC has a market cap of $51.5 billion and is part of the computer hardware industry. The company has a P/E ratio of 20.9, above the S&P 500 P/E ratio of 17.7. Shares are up 1.0% year-to-date as of the close of trading on Wednesday. Currently there are 22 analysts that rate EMC a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates EMC as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full EMC 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, Intel ( INTC) is down $0.20 (-0.8%) to $26.49 on light volume. Thus far, 9.7 million shares of Intel exchanged hands as compared to its average daily volume of 30.1 million shares. The stock has ranged in price between $26.44-$26.67 after having opened the day at $26.51 as compared to the previous trading day's close of $26.69.

Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Other Intel Architecture, Software and Services, and All Other segments. Intel has a market cap of $131.8 billion and is part of the electronics industry. The company has a P/E ratio of 13.1, below the S&P 500 P/E ratio of 17.7. Shares are up 2.0% year-to-date as of the close of trading on Wednesday. Currently there are 11 analysts that rate Intel a buy, 4 analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Intel as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins 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 Intel 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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