3 Technology Stocks Dragging The Sector Down

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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 37 points (-0.2%) at 16,809 as of Friday, June 27, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,843 issues advancing vs. 1,114 declining with 177 unchanged.

The Technology sector currently sits up 0.4% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI.A), down 1.8%, China Unicom (Hong Kong ( CHU), down 1.4%, Micron Technology ( MU), down 1.1%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.2% and CenturyLink ( CTL), down 0.8%. Top gainers within the sector include Vipshop Holdings ( VIPS), up 3.6%, America Movil SAB de CV ( AMOV), up 2.7%, Wipro ( WIT), up 2.6%, Activision Blizzard ( ATVI), up 2.3% and Yahoo ( YHOO), up 2.2%.

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

3. Mobile Telesystems OJSC ( MBT) is one of the companies pushing the Technology sector lower today. As of noon trading, Mobile Telesystems OJSC is down $0.35 (-1.8%) to $19.68 on light volume. Thus far, 663,521 shares of Mobile Telesystems OJSC exchanged hands as compared to its average daily volume of 2.7 million shares. The stock has ranged in price between $19.65-$20.00 after having opened the day at $20.00 as compared to the previous trading day's close of $20.03.

Mobile TeleSystems OJSC provides a range of mobile and fixed line voice and data telecommunications services in Russia and the CIS. It offers data transfer, broadband, pay-TV, and various value-added services, as well as sells equipment and accessories. Mobile Telesystems OJSC has a market cap of $19.7 billion and is part of the telecommunications industry. Shares are down 7.4% year-to-date as of the close of trading on Thursday. Currently there are 4 analysts that rate Mobile Telesystems OJSC a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Mobile Telesystems OJSC as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, good cash flow from operations 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 Mobile Telesystems OJSC 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, VeriSign ( VRSN) is down $1.79 (-3.5%) to $48.94 on average volume. Thus far, 742,312 shares of VeriSign exchanged hands as compared to its average daily volume of 1.4 million shares. The stock has ranged in price between $48.64-$49.87 after having opened the day at $49.65 as compared to the previous trading day's close of $50.73.

VeriSign, Inc. provides Internet infrastructure services to various networks worldwide. The company offers domain name registry services that operate the authoritative directory of .com, .net, .cc, .tv, and .name domains, as well as the back-end systems for various.gov, .jobs, and .edu domains. VeriSign has a market cap of $6.7 billion and is part of the internet industry. Shares are down 15.1% year-to-date as of the close of trading on Thursday. Currently there is 1 analyst that rates VeriSign a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates VeriSign as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, increase in stock price during the past year, increase in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full VeriSign 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, Adobe Systems ( ADBE) is down $0.66 (-0.9%) to $72.19 on light volume. Thus far, 882,640 shares of Adobe Systems exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $72.17-$72.76 after having opened the day at $72.62 as compared to the previous trading day's close of $72.85.

Adobe Systems Incorporated operates as a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing. Adobe Systems has a market cap of $36.1 billion and is part of the computer software & services industry. Shares are up 21.7% year-to-date as of the close of trading on Thursday. Currently there are 10 analysts that rate Adobe Systems a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Adobe Systems as a hold. 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 and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. Get the full Adobe 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.

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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