Bank of America, HP, United Technologies: Dow Movers
NEW YORK (
) -- Stocks
rose Wednesday, spurred higher by strong global manufacturing data
.
The
Dow Jones Industrial Average
rose 83.55 points, or 0.66%, to 12,716.46 on Wednesday. The
S&P 500
increased 11.67 points to 1,324.08 and the
Nasdaq Composite
rose 34.43 points to 2,848.27.
Breadth within the Dow was positive 27 with of the index's 30 components posting gains.
The biggest percentage gainers among the blue chips were
Bank of America
(BAC) - Get Report
,
HP
(HPQ) - Get Report
and
United Technologies
.
Bank of America rose 3.23% to $7.36. The bank was the
top performer in the Dow in January
, posting a 28% increase.
TheStreet Ratings
gives Bank of America a
and rates the stock a sell.
Shares of HP rose 2.79% to $28.76. The company announced Monday that a court rejected
Oracle's
(ORCL) - Get Report
bid to undo its contract with HP because of a fraud claim.
HP gets a
from
TheStreet Ratings
and a hold rating.
United Technologies shares increased 2.39% to $80.22.
TheStreet Ratings
gives United Technologies a B grade and a
price target.
Boeing shares rose 1.6% to $75.37. The aerospace giant receives an A- grade from
TheStreet Ratings
with a
price target.
Adrian Day, president of Adrian Day Asset Management, said the positive signs in manufacturing might have helped to lift Boeing shares. The Institute for Supply Management's manufacturing activity index was 54.1 in January, which missed estimates of 54.5, but increased from 53.1 in December.
The biggest decliners in the index were
McDonald's
(MCD) - Get Report
,
Johnson & Johnson
(JNJ) - Get Report
and
Chevron
(CVX) - Get Report
. Each of these companies had losses of less than 1%.
--
Written by Alexandra Zendrian in New York
.
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