Technology Stocks On The Rise With Help From 3 Stocks

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 125 points (0.7%) at 17,965 as of Friday, May 1, 2015, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,606 issues advancing vs. 1,375 declining with 147 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is up 0.6%. Top gainers within the sector include Altera ( ALTR), up 8.3%, FireEye ( FEYE), up 8.0%, Avago Technologies ( AVGO), up 4.3%, NXP Semiconductors ( NXPI), up 4.1% and Freescale Semiconductor ( FSL), up 3.6%. On the negative front, top decliners within the sector include American Tower ( AMT), down 1.4%, AT&T ( T), down 0.9%, America Movil SAB de CV ( AMOV), down 0.9% and Verizon Communications ( VZ), down 0.7%.

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

3. Baidu ( BIDU) is one of the companies pushing the Technology sector higher today. As of noon trading, Baidu is up $1.49 (0.7%) to $201.77 on heavy volume. Thus far, 3.8 million shares of Baidu exchanged hands as compared to its average daily volume of 3.1 million shares. The stock has ranged in price between $196.13-$202.50 after having opened the day at $200.90 as compared to the previous trading day's close of $200.28.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Baidu, Inc. provides Internet search services in China and internationally. Baidu has a market cap of $76.9 billion and is part of the internet industry. Shares are down 3.9% year-to-date as of the close of trading on Thursday. Currently there are 12 analysts who rate Baidu a buy, no analysts rate it a sell, and 1 rates 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, increase in net income, growth in earnings per share, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. 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 Baidu Ratings Report now.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

2. As of noon trading, Micron Technology ( MU) is up $0.80 (2.8%) to $28.93 on light volume. Thus far, 7.6 million shares of Micron Technology exchanged hands as compared to its average daily volume of 22.9 million shares. The stock has ranged in price between $28.31-$29.02 after having opened the day at $28.31 as compared to the previous trading day's close of $28.13.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Micron Technology, Inc., together with its subsidiaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems. Micron Technology has a market cap of $31.2 billion and is part of the electronics industry. Shares are down 17.5% year-to-date as of the close of trading on Thursday. Currently there are 17 analysts who rate Micron Technology a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Micron Technology 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, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Micron Technology Ratings Report now.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

1. As of noon trading, Cisco Systems ( CSCO) is up $0.23 (0.8%) to $29.06 on light volume. Thus far, 8.8 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 28.0 million shares. The stock has ranged in price between $28.78-$29.14 after having opened the day at $28.81 as compared to the previous trading day's close of $28.83.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. Cisco Systems has a market cap of $148.3 billion and is part of the computer hardware industry. Shares are up 4.4% year-to-date as of the close of trading on Thursday. Currently there are 19 analysts who rate Cisco Systems a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Cisco Systems as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels 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 Cisco Systems Ratings Report now.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

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).

More from Markets

Stocks Tumble as Trump Comments Lead to Worries Over China Trade Talks

Stocks Tumble as Trump Comments Lead to Worries Over China Trade Talks

Tiffany & Co. Sees a Strong Market in Asia

Tiffany & Co. Sees a Strong Market in Asia

Imagining the Stock Market in 10 Years

Imagining the Stock Market in 10 Years

Video: Jim Cramer on the Markets, Tiffany, Micron Technology and Union Pacific

Video: Jim Cramer on the Markets, Tiffany, Micron Technology and Union Pacific

Red Robin Slumps After Earnings Miss

Red Robin Slumps After Earnings Miss