Midday Leaders & Laggards: DJIA

The blue chip index rose 97.46 to 12,624.72, with 25 of the 30 Dow components moving up.

Banc of America analyst Sumit Dhanda upgraded Intel Corp. shares to "Buy" from "Neutral." He raised his rating on the sector, saying Wall Street expectations have become more realistic. He also upgraded six other semiconductor makers. Intel gained 87 cents, or 4.1 percent, to $22.29.

Shares of home improvement retailer The Home Depot Inc. picked up 94 cents, or 3.4 percent, to $28.61, as retailers reported their March sales results.

And drug maker Merck & Co. Inc. added $1.17, or 2.9 percent, to $42.11, after inking a licensing deal with for up to 10 experimental cancer drugs from Celera Group.

On the negative side, shares of aluminum maker Alcoa Inc. shed 94 cents, or 2.5 percent, to $35.90, continuing its slide for a third day since reporting disappointing first-quarter results and a weaker than expected outlook.

Oil prices slid back from Wednesday's record highs, and shares of Chevron Corp. dipped 38 cents to $89.57, while Exxon Mobil Corp. gave up 31 cents to $89.39.