Technology Stocks On The Rise With Help From 3 Stocks

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 77 points (0.5%) at 16,913 as of Friday, June 6, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,319 issues advancing vs. 667 declining with 134 unchanged.

The Technology sector currently sits up 1.0% versus the S&P 500, which is up 0.4%. Top gainers within the sector include Telecom Italia SpA ( TI.A), up 5.4%, Turkcell Iletisim Hizmetleri AS ( TKC), up 4.5%, Telecom Italia SpA ( TI), up 3.5%, Baidu ( BIDU), up 3.3% and Tim Participacoes ( TSU), up 3.2%. A company within the sector that fell today was eBay ( EBAY), up 1.8%.

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

3. Cognizant Technology Solutions ( CTSH) is one of the companies pushing the Technology sector higher today. As of noon trading, Cognizant Technology Solutions is up $0.82 (1.7%) to $49.82 on average volume. Thus far, 1.5 million shares of Cognizant Technology Solutions exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $49.06-$50.00 after having opened the day at $49.25 as compared to the previous trading day's close of $49.00.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates in four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. Cognizant Technology Solutions has a market cap of $29.5 billion and is part of the computer software & services industry. Shares are down 3.9% year-to-date as of the close of trading on Thursday. Currently there are 13 analysts who rate Cognizant Technology Solutions a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Cognizant Technology Solutions as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Cognizant Technology Solutions 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.

2. As of noon trading, Eaton ( ETN) is up $0.90 (1.2%) to $74.46 on light volume. Thus far, 783,822 shares of Eaton exchanged hands as compared to its average daily volume of 2.6 million shares. The stock has ranged in price between $73.65-$74.69 after having opened the day at $73.70 as compared to the previous trading day's close of $73.56.

Eaton Corporation plc operates as a power management company worldwide. Eaton has a market cap of $35.0 billion and is part of the industrial industry. Shares are down 3.4% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts who rate Eaton a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Eaton as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Eaton 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, Yahoo ( YHOO) is up $0.82 (2.4%) to $35.76 on average volume. Thus far, 8.9 million shares of Yahoo exchanged hands as compared to its average daily volume of 22.4 million shares. The stock has ranged in price between $35.05-$35.80 after having opened the day at $35.06 as compared to the previous trading day's close of $34.94.

Yahoo! Inc. operates as a technology company worldwide. Yahoo has a market cap of $35.0 billion and is part of the internet industry. Shares are down 13.6% year-to-date as of the close of trading on Thursday. Currently there are 19 analysts who rate Yahoo a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Yahoo as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Yahoo 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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