3 Stocks Pushing The Technology Sector Downward

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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 73 points (0.4%) at 16,911 as of Tuesday, Aug. 19, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,966 issues advancing vs. 988 declining with 181 unchanged.

The Technology sector currently sits up 0.4% versus the S&P 500, which is up 0.4%. A company within the sector that fell today was Corning ( GLW), up 1.2%. Top gainers within the sector include SK Telecom ( SKM), up 2.2%, Cognizant Technology Solutions ( CTSH), up 2.1%, Broadcom ( BRCM), up 1.8%, Oracle Corporation ( ORCL), up 1.5% and Taiwan Semiconductor Manufacturing ( TSM), up 1.5%.

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

3. Verizon Communications ( VZ) is one of the companies pushing the Technology sector lower today. As of noon trading, Verizon Communications is down $0.37 (-0.8%) to $48.41 on average volume. Thus far, 9.8 million shares of Verizon Communications exchanged hands as compared to its average daily volume of 13.5 million shares. The stock has ranged in price between $48.27-$49.04 after having opened the day at $49.03 as compared to the previous trading day's close of $48.78.

Verizon Communications Inc. provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. Verizon Communications has a market cap of $202.3 billion and is part of the telecommunications industry. Shares are down 0.7% year-to-date as of the close of trading on Monday. Currently there are 22 analysts that rate Verizon Communications a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Verizon Communications Ratings Report now.

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