3 Technology Stocks Nudging The Sector 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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 21 points (0.1%) at 16,839 as of Wednesday, June 25, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,709 issues advancing vs. 1,282 declining with 166 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is up 0.2%. Top gainers within the sector include AthenaHealth ( ATHN), up 5.1%, 3D Systems ( DDD), up 4.3%, Xerox Corporation ( XRX), up 1.9%, Facebook ( FB), up 1.8% and Baidu ( BIDU), up 1.6%. On the negative front, top decliners within the sector include China Telecom ( CHA), down 2.4%, Applied Materials ( AMAT), down 1.4%, Micron Technology ( MU), down 1.2%, LM Ericsson Telephone Company ( ERIC), down 1.2% and Hewlett-Packard ( HPQ), down 1.2%.

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

3. Telefonica Brasil ( VIV) is one of the companies pushing the Technology sector higher today. As of noon trading, Telefonica Brasil is up $0.38 (1.9%) to $20.33 on average volume. Thus far, 674,733 shares of Telefonica Brasil exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $20.02-$20.45 after having opened the day at $20.19 as compared to the previous trading day's close of $19.95.

Telefonica Brasil S.A. provides fixed-line telecommunications services to residential and commercial customers in Brazil. Telefonica Brasil has a market cap of $22.5 billion and is part of the telecommunications industry. Shares are up 3.8% year-to-date as of the close of trading on Tuesday. 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, expanding profit margins 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.

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2. As of noon trading, Western Digital ( WDC) is up $1.41 (1.6%) to $91.63 on light volume. Thus far, 568,126 shares of Western Digital exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $90.28-$91.87 after having opened the day at $90.55 as compared to the previous trading day's close of $90.22.

Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content. Western Digital has a market cap of $21.5 billion and is part of the computer hardware industry. Shares are up 8.0% year-to-date as of the close of trading on Tuesday. Currently there are 12 analysts who rate Western Digital a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Western Digital 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, 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 Western Digital 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, TripAdvisor ( TRIP) is up $2.52 (2.4%) to $107.20 on light volume. Thus far, 877,777 shares of TripAdvisor exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $104.03-$108.39 after having opened the day at $104.30 as compared to the previous trading day's close of $104.68.

TripAdvisor, Inc. operates as an online travel company. TripAdvisor has a market cap of $13.4 billion and is part of the internet industry. Shares are up 26.4% year-to-date as of the close of trading on Tuesday. Currently there are 9 analysts who rate TripAdvisor a buy, 1 analyst rates it a sell, and 11 rate it a hold.

TheStreet Ratings rates TripAdvisor as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and growth in earnings per share. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. Get the full TripAdvisor 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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