People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City.People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City.

The companies are making news in midday trading.

The bank said it expects to reach key return targets sooner than planned thanks to rising interest rates. Other banks were among the top gainers. Citigroup, Bank of America, and Wells Fargo all got a boost. Higher rates allow banks to make more money.

Starbucks shares rose slightly after the company said it will exit the Russian market.

Gap was one of a number of apparel companies that had their shares lowered by Citigroup along with a string of other companies. The shares of Children's Place fell 4%.

On news that it is seeking a sale or merger, shares of Electronic Arts added 1.8%. Disney, Apple and Amazon are said to have held talks with the video game maker.

Eli Lilly's stock added 1% as SVB Securities said the drugmaker's diabetes drug is game-changing and could bring more gains for the stock.

Multiple reports said that VMWare is in advanced talks to be acquired by a chipmaker. The shares of the company dipped.

The software company's shares fell after the company's price target was cut byDeutsche Bank. There will be mixed first-quarter results from Autodesk.

Emergent BioSolutions jumped 9.8% as the life sciences company made a vaccine that can be used to prevent spreading monkeypox.

The home services company's shares gained 2.5% after JPMorgan started coverage with an overweight rating, saying that Porch Group has differentiated itself through its business-to-business strategy.

CNBC's Tanaya Macheel, Yun Li, Hannah Miao and Sarah Min contributed reporting.