3 Stocks Pulling The Technology Sector Downward

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%. 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 lower today:

3. SanDisk ( SNDK) is one of the companies pushing the Technology sector lower today. As of noon trading, SanDisk is down $1.63 (-1.7%) to $92.89 on heavy volume. Thus far, 3.0 million shares of SanDisk exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $92.76-$94.40 after having opened the day at $94.39 as compared to the previous trading day's close of $94.52.

SanDisk Corporation designs, develops, manufactures, and markets data storage products that are used in various consumer electronics products. SanDisk has a market cap of $24.4 billion and is part of the computer hardware industry. Shares are up 34.0% year-to-date as of the close of trading on Friday. Currently there are 17 analysts that rate SanDisk a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates SanDisk 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, growth in earnings per share, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full SanDisk 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, Salesforce.com ( CRM) is down $0.51 (-0.9%) to $52.99 on light volume. Thus far, 1.3 million shares of Salesforce.com exchanged hands as compared to its average daily volume of 6.1 million shares. The stock has ranged in price between $52.58-$53.39 after having opened the day at $53.25 as compared to the previous trading day's close of $53.50.

salesforce.com, inc. provides enterprise cloud computing solutions to various businesses and industries worldwide. Salesforce.com has a market cap of $33.1 billion and is part of the computer software & services industry. Shares are down 4.6% year-to-date as of the close of trading on Friday. Currently there are 25 analysts that rate Salesforce.com a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Salesforce.com as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and generally higher debt management risk. Get the full Salesforce.com 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, Hewlett-Packard ( HPQ) is down $0.37 (-1.1%) to $34.44 on average volume. Thus far, 3.9 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 10.0 million shares. The stock has ranged in price between $34.39-$34.84 after having opened the day at $34.78 as compared to the previous trading day's close of $34.81.

Hewlett-Packard Company, together with its subsidiaries, provides products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $65.2 billion and is part of the computer hardware industry. Shares are up 23.1% year-to-date as of the close of trading on Friday. Currently there are 9 analysts that rate Hewlett-Packard a buy, 2 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins. Get the full Hewlett-Packard 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).

null

More from Markets

What Market Selloff? Dow Futures Are Popping on Sunday

What Market Selloff? Dow Futures Are Popping on Sunday

Street Stats: The Mid-Term Elections May Be a Rollercoaster Ride for Investors

Street Stats: The Mid-Term Elections May Be a Rollercoaster Ride for Investors

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric