3 Technology Stocks Nudging The Sector Higher

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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 83 points (-0.5%) at 16,448 as of Tuesday, May 6, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,223 issues advancing vs. 1,760 declining with 164 unchanged.

The Technology sector currently sits down 0.6% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Avago Technologies ( AVGO), up 4.8%, 3D Systems ( DDD), up 4.5%, Alcatel-Lucent ( ALU), up 3.3%, Taiwan Semiconductor Manufacturing ( TSM), up 1.9% and Micron Technology ( MU), up 1.2%. On the negative front, top decliners within the sector include AthenaHealth ( ATHN), down 13.4%, Yelp ( YELP), down 7.5%, TripAdvisor ( TRIP), down 3.3%, NetApp ( NTAP), down 2.3% and Amazon.com ( AMZN), down 2.2%.

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

3. Mobile Telesystems OJSC ( MBT) is one of the companies pushing the Technology sector higher today. As of noon trading, Mobile Telesystems OJSC is up $0.33 (2.0%) to $16.74 on light volume. Thus far, 1.3 million shares of Mobile Telesystems OJSC exchanged hands as compared to its average daily volume of 3.9 million shares. The stock has ranged in price between $16.45-$16.77 after having opened the day at $16.57 as compared to the previous trading day's close of $16.41.

Mobile TeleSystems OJSC provides a range of mobile and fixed line voice and data telecommunications services in Russia and the CIS. It offers data transfer, broadband, pay-TV, and various value-added services, as well as sells equipment and accessories. Mobile Telesystems OJSC has a market cap of $16.4 billion and is part of the telecommunications industry. The company has a P/E ratio of 16.1, below the S&P 500 P/E ratio of 17.7. Shares are down 24.1% year-to-date as of the close of trading on Monday. Currently there are 3 analysts who rate Mobile Telesystems OJSC a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Mobile Telesystems OJSC as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself. Get the full Mobile Telesystems OJSC 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, America Movil SAB de CV ( AMX) is up $0.27 (1.3%) to $20.47 on light volume. Thus far, 1.3 million shares of America Movil SAB de CV exchanged hands as compared to its average daily volume of 5.7 million shares. The stock has ranged in price between $20.15-$20.51 after having opened the day at $20.15 as compared to the previous trading day's close of $20.20.

America Movil, S.A.B. de C.V. provides telecommunications services in the United States, Latin America, and the Caribbean. It offers mobile and fixed voice services, including airtime, local, long-distance services, public telephony services, and network interconnection services. America Movil SAB de CV has a market cap of $72.7 billion and is part of the telecommunications industry. The company has a P/E ratio of 12.6, below the S&P 500 P/E ratio of 17.7. Shares are down 13.6% year-to-date as of the close of trading on Monday. Currently there is 1 analyst who rates America Movil SAB de CV a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates America Movil SAB de CV as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and generally higher debt management risk. Get the full America Movil SAB de CV 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, Baidu ( BIDU) is up $2.12 (1.3%) to $161.85 on light volume. Thus far, 1.4 million shares of Baidu exchanged hands as compared to its average daily volume of 5.0 million shares. The stock has ranged in price between $159.05-$162.81 after having opened the day at $159.73 as compared to the previous trading day's close of $159.73.

Baidu, Inc. provides Internet search services. Baidu has a market cap of $56.0 billion and is part of the internet industry. The company has a P/E ratio of 25.5, above the S&P 500 P/E ratio of 17.7. Shares are down 10.2% year-to-date as of the close of trading on Monday. Currently there are 11 analysts who rate Baidu a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Baidu as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, growth in earnings per share, increase in net income and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Baidu 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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