3 Stocks Pushing The Telecommunications Industry 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 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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2. As of noon trading, Telefonica Brasil ( VIV) is up $0.19 (0.9%) to $20.10 on average volume. Thus far, 731,854 shares of Telefonica Brasil exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $19.84-$20.17 after having opened the day at $19.86 as compared to the previous trading day's close of $19.91.

Telefonica Brasil S.A. provides fixed-line telecommunications services to residential and commercial customers in Brazil. Telefonica Brasil has a market cap of $22.6 billion and is part of the technology sector. Shares are up 3.6% year-to-date as of the close of trading on Monday. Currently there are 4 analysts who rate Telefonica Brasil a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Telefonica Brasil as a hold. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. Get the full Telefonica Brasil 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, LM Ericsson Telephone Company ( ERIC) is up $0.09 (0.7%) to $12.35 on average volume. Thus far, 2.6 million shares of LM Ericsson Telephone Company exchanged hands as compared to its average daily volume of 4.4 million shares. The stock has ranged in price between $12.25-$12.36 after having opened the day at $12.29 as compared to the previous trading day's close of $12.26.

Ericsson provides telecommunications equipment and services to mobile and fixed network operators worldwide. It operates through four segments: Networks, Global Services, Support Solutions, and Modems. LM Ericsson Telephone Company has a market cap of $41.1 billion and is part of the technology sector. Shares are up 0.2% year-to-date as of the close of trading on Monday. Currently there are 5 analysts who rate LM Ericsson Telephone Company a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates LM Ericsson Telephone Company as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full LM Ericsson Telephone Company 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 telecommunications industry could consider iShares Dow Jones US Telecom ( IYZ) while those bearish on the telecommunications industry could consider ProShares Ult Sht Telecommunication ( TLL).

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