IBM, JPMorgan, Procter & Gamble: Dow Movers
By Alexandra Zendrian - 02/23/12 - 4:52 PM EST
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
gives Procter & Gamble an A- grade with a buy rating and $75.31
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.
gives JPMorgan a B grade with a buy rating and $43.89
Shares of IBM rose 1.93% to $197.61. The stock hit a 52-week high
Thursday of $199.23.
gives IBM an A+ grade with a buy rating and a $253.34
The biggest decliners in the index were HP
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.
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
--Written by Alexandra Zendrian in New York
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