3 Technology Stocks Driving 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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 74 points (-0.4%) at 17,027 as of Monday, July 21, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 889 issues advancing vs. 2,085 declining with 146 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is down 0.4%. Top gainers within the sector include ASML ( ASML), up 1.6%, and Intel ( INTC), up 1.3%. On the negative front, top decliners within the sector include Mobile Telesystems OJSC ( MBT), down 5.8%, VimpelCom ( VIP), down 3.9%, Yandex ( YNDX), down 3.6%, LG Display ( LPL), down 3.3% and Telecom Italia SpA ( TI), down 2.2%.

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

3. EMC ( EMC) is one of the companies pushing the Technology sector higher today. As of noon trading, EMC is up $1.07 (4.0%) to $28.05 on heavy volume. Thus far, 30.4 million shares of EMC exchanged hands as compared to its average daily volume of 14.4 million shares. The stock has ranged in price between $27.76-$28.32 after having opened the day at $28.20 as compared to the previous trading day's close of $26.98.

EMC Corporation develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. It operates in three segments: Information Storage, Information Intelligence Group, and RSA Information Security. EMC has a market cap of $55.3 billion and is part of the computer hardware industry. Shares are up 6.3% year-to-date as of the close of trading on Friday. Currently there are 21 analysts who rate EMC a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates EMC as a buy. 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, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full EMC Ratings Report now.

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2. As of noon trading, Baidu ( BIDU) is up $6.19 (3.2%) to $197.36 on heavy volume. Thus far, 3.5 million shares of Baidu exchanged hands as compared to its average daily volume of 3.3 million shares. The stock has ranged in price between $193.00-$198.28 after having opened the day at $194.15 as compared to the previous trading day's close of $191.17.

Baidu, Inc. provides Internet search services. Baidu has a market cap of $66.3 billion and is part of the internet industry. Shares are up 5.1% year-to-date as of the close of trading on Friday. Currently there are 10 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. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. 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.

1. As of noon trading, Facebook ( FB) is up $1.20 (1.8%) to $69.62 on average volume. Thus far, 29.5 million shares of Facebook exchanged hands as compared to its average daily volume of 51.4 million shares. The stock has ranged in price between $68.50-$69.63 after having opened the day at $68.81 as compared to the previous trading day's close of $68.42.

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 $134.9 billion and is part of the internet industry. Shares are up 21.5% 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).
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