3 Stocks Pushing The Telecommunications Industry Higher

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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 Telecommunications industry currently sits down 0.6% versus the S&P 500, which is down 0.1%. Top gainers within the industry include Nippon Telegraph & Telephone ( NTT), up 0.9%, and America Movil SAB de CV ( AMOV), up 0.7%.

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

3. InterDigital ( IDCC) is one of the companies pushing the Telecommunications industry higher today. As of noon trading, InterDigital is up $7.53 (20.1%) to $44.94 on heavy volume. Thus far, 2.9 million shares of InterDigital exchanged hands as compared to its average daily volume of 348,800 shares. The stock has ranged in price between $41.61-$45.69 after having opened the day at $41.80 as compared to the previous trading day's close of $37.41.

InterDigital, Inc. designs and develops technologies that enable and enhance wireless communications in the United States, Taiwan, Canada, Japan, Korea, Germany, Europe, China, and Asia. InterDigital has a market cap of $1.5 billion and is part of the technology sector. Shares are up 26.9% year-to-date as of the close of trading on Monday. Currently there is 1 analyst who rates InterDigital a buy, no analysts rate it a sell, and 1 rates it a hold.

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

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