3 Technology Stocks Nudging The Sector Higher

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 59 points (0.3%) at 18,083 as of Monday, May 4, 2015, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,918 issues advancing vs. 1,077 declining with 158 unchanged.

The Technology sector currently sits up 0.6% versus the S&P 500, which is up 0.4%. Top gainers within the sector include Cognizant Technology Solutions ( CTSH), up 8.0%, ON Semiconductor ( ON), up 6.5%, Autohome ( ATHM), up 5.7%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), up 3.4% and Vipshop Holdings ( VIPS), up 2.8%. On the negative front, top decliners within the sector include Altera ( ALTR), down 1.8%, LinkedIn ( LNKD), down 1.6%, Taiwan Semiconductor Manufacturing ( TSM), down 1.5%, Micron Technology ( MU), down 1.3% and Avago Technologies ( AVGO), down 1.3%.

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

3. Qualcomm ( QCOM) is one of the companies pushing the Technology sector higher today. As of noon trading, Qualcomm is up $0.67 (1.0%) to $69.09 on light volume. Thus far, 3.0 million shares of Qualcomm exchanged hands as compared to its average daily volume of 12.7 million shares. The stock has ranged in price between $68.22-$69.12 after having opened the day at $68.45 as compared to the previous trading day's close of $68.42.

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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. Qualcomm has a market cap of $110.8 billion and is part of the telecommunications industry. Shares are down 8.0% year-to-date as of the close of trading on Friday. Currently there are 15 analysts who rate Qualcomm a buy, no analysts rate it a sell, and 9 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 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 Qualcomm Ratings Report now.

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2. As of noon trading, AT&T ( T) is up $0.18 (0.5%) to $34.60 on average volume. Thus far, 11.2 million shares of AT&T exchanged hands as compared to its average daily volume of 26.3 million shares. The stock has ranged in price between $34.25-$34.71 after having opened the day at $34.41 as compared to the previous trading day's close of $34.42.

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AT&T Inc. provides telecommunications services in the United States and internationally. The company operates through two segments, Wireless and Wireline. AT&T has a market cap of $179.7 billion and is part of the telecommunications industry. Shares are up 2.5% year-to-date as of the close of trading on Friday. Currently there are 8 analysts who rate AT&T a buy, no analysts rate it a sell, and 15 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full AT&T Ratings Report now.

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1. As of noon trading, Google ( GOOGL) is up $3.75 (0.7%) to $554.91 on average volume. Thus far, 780,935 shares of Google exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $547.39-$555.14 after having opened the day at $550.99 as compared to the previous trading day's close of $551.16.

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Google Inc., a technology company, builds products and provides services to organize the information. Google has a market cap of $158.2 billion and is part of the internet industry. Shares are up 3.9% year-to-date as of the close of trading on Friday. Currently there are 25 analysts who rate Google a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Google 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, reasonable valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Google Ratings Report now.

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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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