ABB, SAP And ADP, 3 Technology Stocks Pushing The Sector Lower

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 13 points (0.1%) at 16,507 as of Monday, Aug. 4, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,334 issues advancing vs. 1,665 declining with 161 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the sector include Catamaran ( CTRX), down 3.1%, ASML ( ASML), down 1.2%, Telefonica ( TEF), down 0.9%, BT Group ( BT), down 0.7% and Nippon Telegraph & Telephone ( NTT), down 0.7%. Top gainers within the sector include Groupon ( GRPN), up 8.5%, Qihoo 360 Technology ( QIHU), up 4.8%, Infosys ( INFY), up 2.8%, Amazon.com ( AMZN), up 2.7% and Salesforce.com ( CRM), up 2.7%.

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

3. ABB ( ABB) is one of the companies pushing the Technology sector lower today. As of noon trading, ABB is down $0.12 (-0.5%) to $22.71 on light volume. Thus far, 680,197 shares of ABB exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $22.67-$22.88 after having opened the day at $22.85 as compared to the previous trading day's close of $22.83.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. ABB has a market cap of $52.7 billion and is part of the industrial industry. Shares are down 14.0% year-to-date as of the close of trading on Friday. Currently there are no analysts that rate ABB a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates ABB 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, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full ABB Ratings Report now.

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