3 Stocks Pushing The Telecommunications Industry Downward

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One out of the three major indices are trading lower 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 Telecommunications industry currently sits up 0.4% versus the S&P 500, which is up 0.1%. A company within the industry that fell today was AT&T ( T), up 0.6%.

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

3. China Unicom (Hong Kong ( CHU) is one of the companies pushing the Telecommunications industry lower today. As of noon trading, China Unicom (Hong Kong is down $0.20 (-1.3%) to $15.13 on heavy volume. Thus far, 524,432 shares of China Unicom (Hong Kong exchanged hands as compared to its average daily volume of 597,000 shares. The stock has ranged in price between $14.98-$15.29 after having opened the day at $15.29 as compared to the previous trading day's close of $15.33.

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, broadband and other Internet-related, information communications technology, and business and data communications services in China. China Unicom (Hong Kong has a market cap of $34.2 billion and is part of the technology sector. The company has a P/E ratio of 25.0, above the S&P 500 P/E ratio of 17.7. Shares are down 4.5% year-to-date as of the close of trading on Wednesday. Currently there are 2 analysts that rate China Unicom (Hong Kong a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates China Unicom (Hong Kong as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins. Get the full China Unicom (Hong Kong Ratings Report now.

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