3 Technology Stocks Pushing 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.

One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,733 as of Monday, June 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,394 issues advancing vs. 1,564 declining with 187 unchanged.

The Technology sector currently sits down 0.7% versus the S&P 500, which is unchanged. Top gainers within the sector include Broadcom ( BRCM), up 9.6%, Infosys ( INFY), up 1.9%, Kyocera ( KYO), up 1.9%, Telecom Italia SpA ( TI.A), up 1.5% and Applied Materials ( AMAT), up 1.0%. On the negative front, top decliners within the sector include STMicroelectronics ( STM), down 3.1%, LinkedIn ( LNKD), down 3.0%, American Tower ( AMT), down 1.6%, LM Ericsson Telephone Company ( ERIC), down 1.4% and Amazon.com ( AMZN), down 1.4%.

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

3. Nippon Telegraph & Telephone ( NTT) is one of the companies pushing the Technology sector higher today. As of noon trading, Nippon Telegraph & Telephone is up $0.43 (1.4%) to $30.11 on heavy volume. Thus far, 722,959 shares of Nippon Telegraph & Telephone exchanged hands as compared to its average daily volume of 265,600 shares. The stock has ranged in price between $30.00-$30.14 after having opened the day at $30.04 as compared to the previous trading day's close of $29.68.

Nippon Telegraph and Telephone Corporation, together with its subsidiaries, provides fixed and mobile voice related services, IP/packet communications services, telecommunications equipment, and system integration and other telecommunications-related services in Japan. Nippon Telegraph & Telephone has a market cap of $67.3 billion and is part of the telecommunications industry. Shares are up 9.8% year-to-date as of the close of trading on Friday. Currently there is 1 analyst who rates Nippon Telegraph & Telephone a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Nippon Telegraph & Telephone 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, solid stock price performance, growth in earnings per share and increase in net income. 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 Nippon Telegraph & Telephone Ratings Report now.

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2. As of noon trading, Thomson Reuters ( TRI) is up $0.42 (1.2%) to $35.11 on light volume. Thus far, 287,455 shares of Thomson Reuters exchanged hands as compared to its average daily volume of 769,800 shares. The stock has ranged in price between $34.99-$35.22 after having opened the day at $35.06 as compared to the previous trading day's close of $34.69.

Thomson Reuters Corporation provides intelligent information for businesses and professionals worldwide. The company sells electronic content and services to professionals, primarily on a subscription basis. Thomson Reuters has a market cap of $28.3 billion and is part of the media industry. Shares are down 8.3% year-to-date as of the close of trading on Friday. Currently there are 5 analysts who rate Thomson Reuters a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates Thomson Reuters as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow. Get the full Thomson Reuters Ratings Report now.

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1. As of noon trading, International Business Machines ( IBM) is up $1.34 (0.7%) to $185.70 on light volume. Thus far, 1.7 million shares of International Business Machines exchanged hands as compared to its average daily volume of 4.9 million shares. The stock has ranged in price between $184.67-$186.28 after having opened the day at $184.76 as compared to the previous trading day's close of $184.36.

International Business Machines Corporation provides information technology (IT) products and services worldwide. International Business Machines has a market cap of $186.0 billion and is part of the computer software & services industry. Shares are down 1.7% year-to-date as of the close of trading on Friday. Currently there are 4 analysts who rate International Business Machines a buy, no analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its 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 International Business Machines 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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