3 Technology Stocks Nudging 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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 29 points (-0.2%) at 16,714 as of Tuesday, June 3, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,066 issues advancing vs. 1,889 declining with 193 unchanged.

The Technology sector currently sits down 0.7% versus the S&P 500, which is down 0.1%. Top gainers within the sector include InterDigital ( IDCC), up 20.1%, Skyworks Solutions ( SWKS), up 5.5%, Applied Materials ( AMAT), up 3.2%, Lam Research ( LRCX), up 3.1% and Broadcom ( BRCM), up 3.0%. On the negative front, top decliners within the sector include Qihoo 360 Technology ( QIHU), down 3.1%, Thomson Reuters ( TRI), down 1.9%, Adobe Systems ( ADBE), down 1.5%, Wipro ( WIT), down 1.4% and China Telecom ( CHA), down 1.1%.

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

3. Hewlett-Packard ( HPQ) is one of the companies pushing the Technology sector higher today. As of noon trading, Hewlett-Packard is up $0.22 (0.7%) to $33.66 on light volume. Thus far, 4.0 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 12.8 million shares. The stock has ranged in price between $33.23-$33.81 after having opened the day at $33.42 as compared to the previous trading day's close of $33.43.

Hewlett-Packard Company, together with its subsidiaries, provides products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $63.5 billion and is part of the computer hardware industry. Shares are up 19.5% year-to-date as of the close of trading on Monday. Currently there are 9 analysts who rate Hewlett-Packard a buy, 2 analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins. Get the full Hewlett-Packard Ratings Report now.

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