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.

One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 91 points (0.6%) at 16,492 as of Wednesday, May 7, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,744 issues advancing vs. 1,239 declining with 163 unchanged.

The Technology sector currently sits down 1.5% versus the S&P 500, which is up 0.3%. Top gainers within the sector include Mobile Telesystems OJSC ( MBT), up 3.8%, China Unicom (Hong Kong ( CHU), up 3.2%, VimpelCom ( VIP), up 2.8%, Telecom Italia SpA ( TI), up 1.9% and TELUS ( TU), up 1.5%. On the negative front, top decliners within the sector include AOL ( AOL), down 23.2%, Groupon ( GRPN), down 19.1%, Trimble Navigation ( TRMB), down 14.6%, Splunk ( SPLK), down 11.6% and SolarCity ( SCTY), down 9.7%.

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

3. Activision Blizzard ( ATVI) is one of the companies pushing the Technology sector higher today. As of noon trading, Activision Blizzard is up $1.27 (6.6%) to $20.58 on heavy volume. Thus far, 10.0 million shares of Activision Blizzard exchanged hands as compared to its average daily volume of 6.0 million shares. The stock has ranged in price between $20.06-$20.78 after having opened the day at $20.17 as compared to the previous trading day's close of $19.31.

Activision Blizzard, Inc. publishes online, personal computer (PC), video game console, handheld, mobile, and tablet games. The company operates through three segments: Activision, Blizzard, and Distribution. Activision Blizzard has a market cap of $13.9 billion and is part of the computer software & services industry. Shares are up 8.3% year-to-date as of the close of trading on Tuesday. Currently there are 18 analysts who rate Activision Blizzard a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Activision Blizzard as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity 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 Activision Blizzard 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, TripAdvisor ( TRIP) is up $3.71 (4.5%) to $85.08 on heavy volume. Thus far, 4.2 million shares of TripAdvisor exchanged hands as compared to its average daily volume of 2.4 million shares. The stock has ranged in price between $80.16-$86.16 after having opened the day at $83.95 as compared to the previous trading day's close of $81.37.

TripAdvisor, Inc. operates as an online travel company. TripAdvisor has a market cap of $11.0 billion and is part of the internet industry. Shares are down 1.8% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts who rate TripAdvisor a buy, 1 analyst rates it a sell, and 11 rate it a hold.

TheStreet Ratings rates TripAdvisor as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. Get the full TripAdvisor 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, Verizon Communications ( VZ) is up $0.67 (1.4%) to $48.14 on light volume. Thus far, 11.3 million shares of Verizon Communications exchanged hands as compared to its average daily volume of 44.8 million shares. The stock has ranged in price between $47.45-$48.19 after having opened the day at $47.52 as compared to the previous trading day's close of $47.47.

Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide. Verizon Communications has a market cap of $196.2 billion and is part of the telecommunications industry. Shares are down 3.4% year-to-date as of the close of trading on Tuesday. Currently there are 20 analysts who rate Verizon Communications a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Verizon Communications 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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