3 Stocks Boosting The Technology 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 77 points (-0.5%) at 16,493 as of Tuesday, Aug. 5, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,020 issues advancing vs. 1,966 declining with 149 unchanged.

The Technology sector currently sits down 0.3% versus the S&P 500, which is down 0.6%. A company within the sector that increased today was SAP SE ( SAP), up 0.6%. On the negative front, top decliners within the sector include Tim Participacoes ( TSU), down 8.1%, Telefonica Brasil ( VIV), down 6.4%, Telecom Italia SpA ( TI), down 5.7%, Alcatel-Lucent ( ALU), down 5.1% and Telecom Italia SpA ( TI.A), down 4.9%.

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

3. United States Cellular ( USM) is one of the companies pushing the Technology sector higher today. As of noon trading, United States Cellular is up $5.09 (15.1%) to $38.70 on heavy volume. Thus far, 338,958 shares of United States Cellular exchanged hands as compared to its average daily volume of 95,200 shares. The stock has ranged in price between $34.31-$38.71 after having opened the day at $34.31 as compared to the previous trading day's close of $33.61.

United States Cellular Corporation operates as a wireless telecommunications service provider in the United States. United States Cellular has a market cap of $1.9 billion and is part of the telecommunications industry. Shares are down 19.6% year-to-date as of the close of trading on Monday. Currently there are 3 analysts who rate United States Cellular a buy, 2 analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates United States Cellular as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, 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 also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow. Get the full United States Cellular Ratings Report now.

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2. As of noon trading, Ametek ( AME) is up $1.41 (2.9%) to $50.52 on heavy volume. Thus far, 1.4 million shares of Ametek exchanged hands as compared to its average daily volume of 796,400 shares. The stock has ranged in price between $50.16-$51.60 after having opened the day at $50.80 as compared to the previous trading day's close of $49.11.

AMETEK, Inc. manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. The company operates in two segments, Electronic Instruments Group (EIG) and Electromechanical Group (EMG). Ametek has a market cap of $11.9 billion and is part of the industrial industry. Shares are down 7.8% year-to-date as of the close of trading on Monday. Currently there are 5 analysts who rate Ametek a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Ametek as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Ametek Ratings Report now.

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1. As of noon trading, Infosys ( INFY) is up $0.54 (0.9%) to $57.80 on average volume. Thus far, 856,961 shares of Infosys exchanged hands as compared to its average daily volume of 1.5 million shares. The stock has ranged in price between $57.23-$58.12 after having opened the day at $57.61 as compared to the previous trading day's close of $57.26.

Infosys Limited provides business consulting, technology, engineering, and outsourcing services worldwide. Infosys has a market cap of $31.5 billion and is part of the computer software & services industry. Shares are up 1.2% year-to-date as of the close of trading on Monday. Currently there are 3 analysts who rate Infosys a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Infosys 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, reasonable valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Infosys 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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