Bank of America, JPMorgan: Dow Midday Movers

NEW YORK ( TheStreet) -- U.S. stocks were rising midday Thursday as Apple ( AAPL) crossed the $600 mark and jobless claims for last week dropped 14,000 to 351,000.

The Dow Jones Industrial Average rose 8.86 points to 13,202.96. Leading the Dow higher were Bank of America ( BAC) and JPMorgan Chase ( JPM).

Both Bank of America and JPMorgan were still rising after the announcement on Tuesday that both banks passed the Federal Reserve's stress tests.

Shares of Bank of America rose 2.71% to $9.08. The stock has increased about 12% since Tuesday's market open.

The bank stock is one of The Street's "5 Big Stocks To Trade for Gains." The stock has risen 63.31% year to date and remains still a buy.

TheStreet Ratings gives Bank of America a C- grade and a hold rating.

JPMorgan shares increased 1.61% to $44.28. The stock has risen about 8% since Tuesday's open.

JPMorgan gets a B+ grade from TheStreet Ratings with a buy rating and a $46.71 price target.

The biggest decliner in the index midday was Cisco ( CSCO). Shares dropped 1.81% to $19.83.

The networking company said it planned to acquire video software provider NDS for about $5 billion.

TheStreet Ratings gives Cisco a B grade with a buy rating and a $22.73 price target.

-- Written by Alexandra Zendrian

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