3 Stocks Pulling The Technology Sector Downward

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One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 24 points (0.1%) at 16,720 as of Tuesday, May 13, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,382 issues advancing vs. 1,595 declining with 161 unchanged.

The Technology sector currently sits down 0.8% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Dealertrack Technologies ( TRAK), down 12.5%, Telecom Italia SpA ( TI), down 6.4%, Splunk ( SPLK), down 6.0%, Telecom Italia SpA ( TI.A), down 5.8% and Qihoo 360 Technology ( QIHU), down 4.0%. Top gainers within the sector include Rackspace Hosting ( RAX), up 8.2%, Nippon Telegraph & Telephone ( NTT), up 2.0%, Microsoft ( MSFT), up 1.5%, America Movil SAB de CV ( AMOV), up 1.0% and Accenture ( ACN), up 0.7%.

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

3. Baidu ( BIDU) is one of the companies pushing the Technology sector lower today. As of noon trading, Baidu is down $3.98 (-2.5%) to $155.90 on light volume. Thus far, 1.7 million shares of Baidu exchanged hands as compared to its average daily volume of 4.9 million shares. The stock has ranged in price between $155.41-$159.61 after having opened the day at $159.39 as compared to the previous trading day's close of $159.88.

Baidu, Inc. provides Internet search services. Baidu has a market cap of $53.5 billion and is part of the internet industry. Shares are down 10.1% year-to-date as of the close of trading on Monday. Currently there are 11 analysts that 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, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. 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.

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