Today's Top Performers In Technology

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 59 points (-0.4%) at 16,657 as of Wednesday, May 14, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,380 issues advancing vs. 1,556 declining with 176 unchanged.

The Technology sector currently sits down 0.3% versus the S&P 500, which is down 0.2%. Top gainers within the sector include Iron Mountain ( IRM), up 7.7%, Vipshop Holdings ( VIPS), up 4.0%, Western Digital ( WDC), up 3.8%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), up 3.6% and Akamai Technologies ( AKAM), up 2.5%. On the negative front, top decliners within the sector include Agilent Technologies ( A), down 1.5%, Amazon.com ( AMZN), down 1.3%, Micron Technology ( MU), down 1.1%, Accenture ( ACN), down 0.9% and Hewlett-Packard ( HPQ), down 0.7%.

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

3. Qualcomm ( QCOM) is one of the companies pushing the Technology sector higher today. As of noon trading, Qualcomm is up $0.55 (0.7%) to $80.92 on average volume. Thus far, 4.4 million shares of Qualcomm exchanged hands as compared to its average daily volume of 9.5 million shares. The stock has ranged in price between $79.83-$80.99 after having opened the day at $79.83 as compared to the previous trading day's close of $80.37.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $135.0 billion and is part of the telecommunications industry. Shares are up 8.2% year-to-date as of the close of trading on Tuesday. Currently there are 20 analysts who rate Qualcomm a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Qualcomm 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, Verizon Communications ( VZ) is up $0.37 (0.8%) to $48.22 on light volume. Thus far, 5.6 million shares of Verizon Communications exchanged hands as compared to its average daily volume of 44.6 million shares. The stock has ranged in price between $47.80-$48.22 after having opened the day at $48.00 as compared to the previous trading day's close of $47.85.

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 $199.4 billion and is part of the telecommunications industry. Shares are down 2.6% 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.

1. As of noon trading, Facebook ( FB) is up $0.36 (0.6%) to $60.19 on light volume. Thus far, 26.0 million shares of Facebook exchanged hands as compared to its average daily volume of 71.6 million shares. The stock has ranged in price between $59.28-$60.39 after having opened the day at $59.53 as compared to the previous trading day's close of $59.83.

Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications. Facebook has a market cap of $119.3 billion and is part of the internet industry. Shares are up 9.5% year-to-date as of the close of trading on Tuesday. Currently there are 31 analysts who rate Facebook a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Facebook as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Facebook 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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