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

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 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.

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, SolarCity ( SCTY) is down $2.18 (-3.0%) to $71.22 on average volume. Thus far, 2.4 million shares of SolarCity exchanged hands as compared to its average daily volume of 5.2 million shares. The stock has ranged in price between $70.67-$73.47 after having opened the day at $73.03 as compared to the previous trading day's close of $73.40.

SolarCity Corporation designs, installs, and sells or leases solar energy systems to residential and commercial customers, and government entities in the United States. SolarCity has a market cap of $6.5 billion and is part of the electronics industry. Shares are up 29.2% year-to-date as of the close of trading on Monday. Currently there are 6 analysts that rate SolarCity a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates SolarCity as a sell. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally high debt management risk and feeble growth in its earnings per share. Get the full SolarCity 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, Yahoo ( YHOO) is down $0.33 (-0.9%) to $35.46 on light volume. Thus far, 5.1 million shares of Yahoo exchanged hands as compared to its average daily volume of 18.6 million shares. The stock has ranged in price between $35.26-$35.99 after having opened the day at $35.80 as compared to the previous trading day's close of $35.79.

Yahoo! Inc. operates as a technology company worldwide. Yahoo has a market cap of $35.7 billion and is part of the internet industry. Shares are down 11.5% year-to-date as of the close of trading on Monday. Currently there are 14 analysts that rate Yahoo a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Yahoo 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, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Yahoo 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).

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