IBM, JPMorgan, Procter & Gamble: Dow Movers

NEW YORK (TheStreet) -- Stocks finished Thursday on a positive note after better-than-expected jobless claims.

The Dow Jones Industrial Average rose 46.02 points, or 0.36%, to 12,984.69. The S&P 500 increased 5.8 points to 1,363.46 and the Nasdaq Composite had a gain of 23.81 points to 2,956.98.

Breadth within the Dow was positive with 20 of the index's 30 components posting gains.

The biggest percentage advancers among the blue chips wereIBM , JPMorgan Chase and Procter & Gamble .

Procter & Gamble shares increased 3.07% to $66.42. The company said it anticipates cutting about 5,700 jobs in the next year and a half to cut costs, according to The Associated Press. Procter & Gamble expects to save about $10 billion by June, 2016, the AP reported.

TheStreet Ratings gives Procter & Gamble an A- grade with a buy rating and $75.31 price target.

Shares of JPMorgan rose 1.1% to $38.49. The move came despite news thatbank fees could be threatened by the Consumer Financial Protection Bureau, which is probing overdraft practices.

TheStreet Ratings gives JPMorgan a B grade with a buy rating and $43.89 price target.

Shares of IBM rose 1.93% to $197.61. The stock hit a 52-week high Thursday of $199.23.

TheStreet Ratings gives IBM an A+ grade with a buy rating and a $253.34 price target.

The biggest decliners in the index were HP and Pfizer .

HP shares fell 6.53% to $27.05. The PC and printer maker first-quarter earnings of $1.5 billion, or 73 cents a share, up from year-ago earnings of $239 million, or 12 cents a share, late Wednesday, but gave a weak outlook for the current quarter.

TheStreet Ratings gives HP a C grade and hold rating.

Shares of Pfizer dropped 1.54% to $21.03. The pharmaceutical company gets an A- grade with a buy rating and $26.30 price target.

--Written by Alexandra Zendrian in New York.

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