3 Technology Stocks Moving The Sector Upward

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 16,918 as of Monday, June 23, 2014, 1:00 PM ET. The NYSE advances/declines ratio sits at 1,480 issues advancing vs. 1,509 declining with 147 unchanged.

The Technology sector currently sits down 0.1% versus the S&P 500, which is down 0.1%. Top gainers within the sector include Groupon ( GRPN), up 6.2%, 3D Systems ( DDD), up 5.6%, Alcatel-Lucent ( ALU), up 2.5%, Eaton ( ETN), up 2.4% and VimpelCom ( VIP), up 1.6%. On the negative front, top decliners within the sector include NTT DoCoMo ( DCM), down 2.1%, Infosys ( INFY), down 2.0%, Telecom Italia SpA ( TI), down 2.0%, Telecom Italia SpA ( TI.A), down 1.9% and Wipro ( WIT), down 1.5%.

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

3. Baidu ( BIDU) is one of the companies pushing the Technology sector higher today. As of noon trading, Baidu is up $2.29 (1.3%) to $176.79 on average volume. Thus far, 1.6 million shares of Baidu exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $174.00-$177.25 after having opened the day at $174.00 as compared to the previous trading day's close of $174.50.

Baidu, Inc. provides Internet search services. Baidu has a market cap of $61.1 billion and is part of the internet industry. Shares are down 1.9% year-to-date as of the close of trading on Friday. Currently there are 11 analysts who rate Baidu a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Baidu as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Baidu 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, Google ( GOOGL) is up $4.89 (0.9%) to $571.41 on light volume. Thus far, 919,129 shares of Google exchanged hands as compared to its average daily volume of 2.7 million shares. The stock has ranged in price between $563.50-$572.30 after having opened the day at $564.35 as compared to the previous trading day's close of $566.52.

Google Inc., a technology company, builds products and provides services to organize the information. Google has a market cap of $159.1 billion and is part of the internet industry. Shares are up 0.8% year-to-date as of the close of trading on Friday. Currently there are 25 analysts who rate Google a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Google as a hold. 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 and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and feeble growth in the company's earnings per share. Get the full Google 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, Facebook ( FB) is up $0.93 (1.4%) to $65.43 on light volume. Thus far, 20.1 million shares of Facebook exchanged hands as compared to its average daily volume of 65.3 million shares. The stock has ranged in price between $64.22-$65.49 after having opened the day at $64.32 as compared to the previous trading day's close of $64.50.

Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications. Facebook has a market cap of $128.3 billion and is part of the internet industry. Shares are up 18.0% year-to-date as of the close of trading on Friday. Currently there are 31 analysts who rate Facebook a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Facebook as a hold. 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 and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Facebook 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).

null

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%