3 Stocks Moving The Technology Sector Upward

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 48 points (-0.3%) at 16,864 as of Wednesday, July 30, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,073 issues advancing vs. 1,897 declining with 171 unchanged.

The Technology sector currently sits up 0.6% versus the S&P 500, which is down 0.1%. Top gainers within the sector include ASML ( ASML), up 14.9%, Telecom Argentina ( TEO), up 8.9%, SK Telecom ( SKM), up 6.2%, Workday ( WDAY), up 5.3% and ServiceNow ( NOW), up 5.1%. On the negative front, top decliners within the sector include America Movil SAB de CV ( AMOV), down 1.4%, Emerson Electric ( EMR), down 1.3%, Nippon Telegraph & Telephone ( NTT), down 1.2%, Adobe Systems ( ADBE), down 1.0% and Microsoft ( MSFT), down 0.9%.

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

3. LinkedIn ( LNKD) is one of the companies pushing the Technology sector higher today. As of noon trading, LinkedIn is up $5.78 (3.2%) to $185.52 on heavy volume. Thus far, 1.9 million shares of LinkedIn exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $181.12-$186.90 after having opened the day at $182.10 as compared to the previous trading day's close of $179.74.

LinkedIn Corporation operates an online professional network. LinkedIn has a market cap of $18.7 billion and is part of the internet industry. Shares are down 17.1% year-to-date as of the close of trading on Tuesday. Currently there are 18 analysts who rate LinkedIn a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates LinkedIn as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself. Get the full LinkedIn Ratings Report now.

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2. As of noon trading, Qualcomm ( QCOM) is up $0.39 (0.5%) to $75.70 on average volume. Thus far, 5.0 million shares of Qualcomm exchanged hands as compared to its average daily volume of 8.3 million shares. The stock has ranged in price between $75.15-$75.73 after having opened the day at $75.68 as compared to the previous trading day's close of $75.31.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $127.1 billion and is part of the telecommunications industry. Shares are up 1.4% year-to-date as of the close of trading on Tuesday. Currently there are 19 analysts who rate Qualcomm a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity, solid stock price performance and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Qualcomm Ratings Report now.

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1. As of noon trading, Facebook ( FB) is up $1.17 (1.6%) to $74.88 on average volume. Thus far, 23.1 million shares of Facebook exchanged hands as compared to its average daily volume of 46.7 million shares. The stock has ranged in price between $74.13-$75.19 after having opened the day at $74.21 as compared to the previous trading day's close of $73.71.

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 $151.0 billion and is part of the internet industry. Shares are up 34.9% year-to-date as of the close of trading on Tuesday. Currently there are 30 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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