April 16, 2008 - 12:44 a.m.

NEW YORK (AP) - Intel Corp. shares led the Dow Jones pertaining average gainers at midday, as a series of strong first-quarter earnings reports lifted the index.

The Dow rose 191.50 points, or 1.32 percent, to 12,553.97, with 27 of the 30 stocks on the index moving up.

Intel Corp. posted greater profit and revenue than analysts expected in the quarter ended March 29, and it forecast a solid second quarter and full year. Shares rose $1.31, or 6.2 percent, to $22.22.

Shares of JPMorgan Chase & Co. gained $2.09, or 5 percent, to $44.21. The company reported a 50 percent decline in its first-quarter profit, but its results were still better than expected.

Shares of heavy machinery maker Caterpillar Inc., which is due to report its results on Thursday, added $2.85, or 3.8 percent, to $78.80.

On the losing side, drug maker Merck & Co. declined 83 cents, or 2 percent, to $40.39. Merck is scheduled to report its first-quarter results on Monday.

Consumer products maker Procter & Gamble Co. shed 36 cents to $69.47.

Shares of Johnson & Johnson were unchanged at $65.65.