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), JPMorgan Chase ( JPM) and Procter & Gamble ( PG).

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) and Pfizer ( PFE).

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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