3 Stocks Pulling The Technology Sector Downward

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Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 28 points (-0.2%) at 16,647 as of Wednesday, May 28, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,518 issues advancing vs. 1,472 declining with 153 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include 3D Systems ( DDD), down 10.7%, Infosys ( INFY), down 3.7%, eBay ( EBAY), down 2.4%, CA ( CA), down 1.6% and Symantec ( SYMC), down 1.5%. Top gainers within the sector include Qihoo 360 Technology ( QIHU), up 5.9%, Telecom Italia SpA ( TI), up 4.2%, Telecom Italia SpA ( TI.A), up 3.6%, Micron Technology ( MU), up 1.9% and Broadcom ( BRCM), up 1.7%.

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

3. Adobe Systems ( ADBE) is one of the companies pushing the Technology sector lower today. As of noon trading, Adobe Systems is down $0.40 (-0.6%) to $64.85 on light volume. Thus far, 725,599 shares of Adobe Systems exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $64.79-$65.48 after having opened the day at $65.43 as compared to the previous trading day's close of $65.25.

Adobe Systems Incorporated operates as a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing. Adobe Systems has a market cap of $32.0 billion and is part of the computer software & services industry. Shares are up 7.4% year-to-date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Adobe Systems a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Adobe Systems as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. Get the full Adobe Systems Ratings Report now.

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