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 were

IBM

(IBM) - Get Report

,

JPMorgan Chase

(JPM) - Get Report

and

Procter & Gamble

(PG) - Get Report

.

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 that

bank 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

(HPQ) - Get Report

and

Pfizer

(PFE) - Get Report

.

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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Alexandra Zendrian

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.