AMAT, SCTY And YHOO, 3 Technology Stocks Pushing The Sector Lower

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 7 points (0.0%) at 16,563 as of Tuesday, Aug. 12, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,349 issues advancing vs. 1,605 declining with 179 unchanged.

The Technology sector currently sits down 0.6% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include Nuance Communications ( NUAN), down 10.6%, Rackspace Hosting ( RAX), down 7.2%, SK Telecom ( SKM), down 3.1%, NetEase ( NTES), down 1.8% and ASML ( ASML), down 1.4%.

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

3. Applied Materials ( AMAT) is one of the companies pushing the Technology sector lower today. As of noon trading, Applied Materials is down $0.22 (-1.0%) to $20.87 on light volume. Thus far, 4.6 million shares of Applied Materials exchanged hands as compared to its average daily volume of 13.9 million shares. The stock has ranged in price between $20.69-$21.15 after having opened the day at $20.93 as compared to the previous trading day's close of $21.09.

Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, flat panel display, solar photovoltaic (PV), and related industries worldwide. Applied Materials has a market cap of $25.4 billion and is part of the electronics industry. Shares are up 19.3% year-to-date as of the close of trading on Monday. Currently there are 9 analysts that rate Applied Materials a buy, 1 analyst rates it a sell, and 6 rate it a hold.

TheStreet Ratings rates Applied Materials 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, impressive record of earnings per share growth, compelling growth in net income 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 Applied Materials Ratings Report now.

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