3 Stocks Pushing The Technology Sector Lower

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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,738 as of Wednesday, June 4, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,399 issues advancing vs. 1,611 declining with 145 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is up 0.1%. On the negative front, top decliners within the sector include Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.6%, Sap ( SAP), down 1.2%, Infosys ( INFY), down 1.1%, China Telecom ( CHA), down 1.0% and America Movil SAB de CV ( AMOV), down 0.9%. Top gainers within the sector include VimpelCom ( VIP), up 4.7%, Telecom Italia SpA ( TI.A), up 2.3%, Broadcom ( BRCM), up 2.3%, Telecom Italia SpA ( TI), up 2.3% and Applied Materials ( AMAT), up 1.3%.

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

3. Qualcomm ( QCOM) is one of the companies pushing the Technology sector lower today. As of noon trading, Qualcomm is down $0.56 (-0.7%) to $79.84 on light volume. Thus far, 2.8 million shares of Qualcomm exchanged hands as compared to its average daily volume of 9.2 million shares. The stock has ranged in price between $79.70-$80.39 after having opened the day at $80.32 as compared to the previous trading day's close of $80.40.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $135.8 billion and is part of the telecommunications industry. Shares are up 8.3% year-to-date as of the close of trading on Tuesday. Currently there are 20 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Qualcomm Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, Cisco Systems ( CSCO) is down $0.16 (-0.7%) to $24.51 on light volume. Thus far, 9.2 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 39.8 million shares. The stock has ranged in price between $24.46-$24.65 after having opened the day at $24.61 as compared to the previous trading day's close of $24.68.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. Cisco Systems has a market cap of $126.9 billion and is part of the computer hardware industry. Shares are up 10.0% year-to-date as of the close of trading on Tuesday. Currently there are 17 analysts that rate Cisco Systems a buy, 1 analyst rates it a sell, and 9 rate it a hold.

TheStreet Ratings rates Cisco Systems as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Cisco Systems Ratings Report now.

STOCKS TO BUY: 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, AT&T ( T) is down $0.20 (-0.6%) to $35.00 on average volume. Thus far, 14.6 million shares of AT&T exchanged hands as compared to its average daily volume of 28.6 million shares. The stock has ranged in price between $34.95-$35.20 after having opened the day at $35.20 as compared to the previous trading day's close of $35.20.

AT&T Inc. provides telecommunications services to consumers and businesses in the United States and internationally. AT&T has a market cap of $183.9 billion and is part of the telecommunications industry. Shares are up 0.1% year-to-date as of the close of trading on Tuesday. Currently there are 9 analysts that rate AT&T a buy, 1 analyst rates it a sell, and 13 rate it a hold.

TheStreet Ratings rates AT&T as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full AT&T Ratings Report now.

STOCKS TO BUY: 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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