BIDU, QCOM And T, 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 73 points (-0.4%) at 16,976 as of Friday, Sept. 12, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 593 issues advancing vs. 2,443 declining with 112 unchanged.

The Technology sector currently sits down 0.4% versus the S&P 500, which is down 0.6%. On the negative front, top decliners within the sector include Salesforce.com ( CRM), down 3.4%, Turkcell Iletisim Hizmetleri AS ( TKC), down 3.0%, Electronic Arts ( EA), down 2.7%, Activision Blizzard ( ATVI), down 2.4% and Taiwan Semiconductor Manufacturing ( TSM), down 2.2%. Top gainers within the sector include 21Vianet Group ( VNET), up 29.6%, eBay ( EBAY), up 2.3%, ASML ( ASML), up 1.2%, China Unicom (Hong Kong ( CHU), up 1.1% and America Movil SAB de CV ( AMX), up 1.1%.

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

3. Baidu ( BIDU) is one of the companies pushing the Technology sector lower today. As of noon trading, Baidu is down $2.78 (-1.3%) to $217.24 on average volume. Thus far, 1.5 million shares of Baidu exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $216.50-$221.25 after having opened the day at $219.41 as compared to the previous trading day's close of $220.02.

Baidu, Inc. provides Internet search services. Baidu has a market cap of $77.4 billion and is part of the internet industry. Shares are up 23.7% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts that rate Baidu a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Baidu as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Baidu 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, Qualcomm ( QCOM) is down $0.54 (-0.7%) to $75.57 on light volume. Thus far, 3.2 million shares of Qualcomm exchanged hands as compared to its average daily volume of 8.9 million shares. The stock has ranged in price between $75.44-$75.86 after having opened the day at $75.80 as compared to the previous trading day's close of $76.11.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $127.3 billion and is part of the telecommunications industry. Shares are up 2.5% year-to-date as of the close of trading on Thursday. Currently there are 18 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity, growth in earnings per share and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Qualcomm 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, AT&T ( T) is down $0.32 (-0.9%) to $34.53 on average volume. Thus far, 8.7 million shares of AT&T exchanged hands as compared to its average daily volume of 19.8 million shares. The stock has ranged in price between $34.49-$34.91 after having opened the day at $34.82 as compared to the previous trading day's close of $34.85.

AT&T Inc. provides telecommunications services to consumers and businesses in the United States and internationally. AT&T has a market cap of $180.0 billion and is part of the telecommunications industry. Shares are down 0.9% year-to-date as of the close of trading on Thursday. Currently there are 10 analysts that rate AT&T a buy, 1 analyst rates it a sell, and 11 rate it a hold.

TheStreet Ratings rates AT&T as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity 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 AT&T 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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