3 Technology Stocks Pushing 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.

Two out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 8 points (0.0%) at 16,964 as of Wednesday, July 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,180 issues advancing vs. 1,847 declining with 143 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is unchanged. Top gainers within the sector include Shutterfly ( SFLY), up 13.7%, Rackspace Hosting ( RAX), up 8.0%, Alcatel-Lucent ( ALU), up 4.1%, Qihoo 360 Technology ( QIHU), up 4.1% and China Telecom ( CHA), up 3.7%. On the negative front, top decliners within the sector include Tim Participacoes ( TSU), down 2.6%, Telecom Italia SpA ( TI), down 2.2%, Telecom Italia SpA ( TI.A), down 1.8%, TELUS ( TU), down 1.5% and CenturyLink ( CTL), down 1.5%.

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

3. Yahoo ( YHOO) is one of the companies pushing the Technology sector higher today. As of noon trading, Yahoo is up $0.48 (1.4%) to $35.83 on average volume. Thus far, 9.7 million shares of Yahoo exchanged hands as compared to its average daily volume of 21.6 million shares. The stock has ranged in price between $35.40-$35.83 after having opened the day at $35.62 as compared to the previous trading day's close of $35.35.

Yahoo! Inc. operates as a technology company worldwide. Yahoo has a market cap of $35.4 billion and is part of the internet industry. Shares are down 12.6% year-to-date as of the close of trading on Tuesday. Currently there are 18 analysts who rate Yahoo a buy, no analysts rate it a sell, and 10 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.

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2. As of noon trading, International Business Machines ( IBM) is up $2.15 (1.1%) to $188.50 on average volume. Thus far, 2.9 million shares of International Business Machines exchanged hands as compared to its average daily volume of 4.2 million shares. The stock has ranged in price between $186.17-$188.93 after having opened the day at $186.34 as compared to the previous trading day's close of $186.35.

International Business Machines Corporation provides information technology (IT) products and services worldwide. International Business Machines has a market cap of $183.5 billion and is part of the computer software & services industry. Shares are down 0.7% year-to-date as of the close of trading on Tuesday. Currently there are 4 analysts who rate International Business Machines a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full International Business Machines 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, Cisco Systems ( CSCO) is up $0.20 (0.8%) to $25.08 on average volume. Thus far, 16.6 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 32.9 million shares. The stock has ranged in price between $24.87-$25.14 after having opened the day at $24.97 as compared to the previous trading day's close of $24.89.

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 $127.3 billion and is part of the computer hardware industry. Shares are up 11.8% year-to-date as of the close of trading on Tuesday. Currently there are 16 analysts who 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.

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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