Bank of America, JPMorgan: Dow Movers
NEW YORK (
) -- Stocks finished on a positive note Monday after
Apple (AAPL) - Get Report shares hit $500 and Greece moved closer to gaining approval from the European Central Bank for the release of another round of bailout monies
.
The
Dow Jones Industrial Average
rose 72.81 points, or 0.57%, to 12,874.04. The
S&P 500
increased 9.13 points to 1,351.77 and the
Nasdaq Composite
rose 27.51 points to 2,931.39.
Breadth within the Dow was positive with 25 of the index's 30 components posting gains.
|
The biggest percentage gainers among the blue chips were
Bank of America
(BAC) - Get Report
,
JPMorgan Chase
(JPM) - Get Report
and
Caterpillar
(CAT) - Get Report
.
Bank of America shares increased 2.23% to $8.25. Fairholme Fund's Bruce Berkowitz, whose fund
invested in Bank of America last year and posted 32% decline in 2011 in part because of it
, said the bank is "going to fix Countrywide."
TheStreet Ratings
gives Bank of America a
and sell rating.
Shares of JPMorgan rose 1.83% to $38.30. The stock gained despite news that both JPMorgan and Bank of America, among other large banks, could see
.
JPMorgan gets a B grade from
TheStreet Ratings
with a buy rating and a
price target.
Caterpillar shares increased 1.74% to $113.70.
TheStreet Ratings
gives Caterpillar a A- grade and
price target.
The biggest decliners in the Dow Monday were
Kraft
(KFT)
and
Travelers
(TRV) - Get Report
. Neither of these stocks had losses of more than 1%.
--
Written by Alexandra Zendrian in New York
.
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