KT, TLK And TSU, Pushing Technology Sector Downward

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One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 7 points (0.0%) at 17,032 as of Friday, Aug. 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,152 issues advancing vs. 1,771 declining with 181 unchanged.

The Technology sector currently sits up 0.4% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Intuit ( INTU), down 2.5%, America Movil SAB de CV ( AMOV), down 1.7%, Telefonica Brasil ( VIV), down 1.4%, America Movil SAB de CV ( AMX), down 1.2% and Baidu ( BIDU), down 1.1%. Top gainers within the sector include NXP Semiconductors ( NXPI), up 2.4%, LinkedIn ( LNKD), up 1.9%, China Telecom ( CHA), up 1.6%, Infosys ( INFY), up 1.1% and Taiwan Semiconductor Manufacturing ( TSM), up 1.0%.

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

3. KT Corporation ( KT) is one of the companies pushing the Technology sector lower today. As of noon trading, KT Corporation is down $0.51 (-3.0%) to $16.34 on average volume. Thus far, 229,739 shares of KT Corporation exchanged hands as compared to its average daily volume of 404,700 shares. The stock has ranged in price between $16.34-$16.54 after having opened the day at $16.42 as compared to the previous trading day's close of $16.85.

KT Corporation provides telecommunication services in Korea. KT Corporation has a market cap of $8.9 billion and is part of the telecommunications industry. Shares are up 13.3% year-to-date as of the close of trading on Thursday. Currently there is 1 analyst that rates KT Corporation a buy, 1 analyst rates it a sell, and none rate it a hold.

TheStreet Ratings rates KT Corporation as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and feeble growth in its earnings per share. Get the full KT Corporation Ratings Report now.

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KT Corporation Stock Downgraded (KT)