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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 26 points (-0.1%) at 17,879 as of Friday, June 5, 2015, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,219 issues advancing vs. 1,787 declining with 146 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is down 0.2%. Top gainers within the sector include Qihoo 360 Technology ( QIHU), up 8.2%, FireEye ( FEYE), up 5.0%, Splunk ( SPLK), up 3.8%, Vipshop Holdings Ltd ADR A ( VIPS), up 2.7% and T-Mobile US ( TMUS), up 1.6%. On the negative front, top decliners within the sector include VimpelCom ( VIP), down 7.2%, LG Display ( LPL), down 3.6%, Telecom Italia SpA ( TI), down 3.5%, Telecom Italia SpA ( TI.A), down 3.4% and Nokia Oyj ( NOK), down 3.1%.

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

3. SanDisk ( SNDK) is one of the companies pushing the Technology sector higher today. As of noon trading, SanDisk is up $1.40 (2.1%) to $68.50 on average volume. Thus far, 2.1 million shares of SanDisk exchanged hands as compared to its average daily volume of 4.7 million shares. The stock has ranged in price between $66.88-$68.84 after having opened the day at $66.93 as compared to the previous trading day's close of $67.10.

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SanDisk Corporation designs, develops, manufactures, and markets data storage solutions in the United States and internationally. SanDisk has a market cap of $14.0 billion and is part of the computer hardware industry. Shares are down 31.5% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts who rate SanDisk a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates SanDisk as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full SanDisk Ratings Report now.

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2. As of noon trading, EMC ( EMC) is up $0.30 (1.1%) to $27.31 on average volume. Thus far, 6.3 million shares of EMC exchanged hands as compared to its average daily volume of 15.9 million shares. The stock has ranged in price between $26.92-$27.38 after having opened the day at $26.94 as compared to the previous trading day's close of $27.01.

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EMC Corporation develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. EMC has a market cap of $52.5 billion and is part of the computer hardware industry. Shares are down 9.2% year-to-date as of the close of trading on Thursday. Currently there are 18 analysts who rate EMC a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates EMC as a hold. 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 and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and weak operating cash flow. Get the full EMC Ratings Report now.

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1. As of noon trading, Baidu ( BIDU) is up $2.52 (1.2%) to $206.84 on average volume. Thus far, 1.9 million shares of Baidu exchanged hands as compared to its average daily volume of 3.3 million shares. The stock has ranged in price between $203.16-$209.26 after having opened the day at $203.67 as compared to the previous trading day's close of $204.32.

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Baidu, Inc. provides Internet search services in China and internationally. Baidu has a market cap of $71.6 billion and is part of the internet industry. Shares are down 10.6% year-to-date as of the close of trading on Thursday. Currently there are 10 analysts who rate Baidu a buy, no analysts rate it a sell, and 3 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, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income. Get the full Baidu 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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