The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Tuesday at 8447 down 82.38 down 0.97% from Mon's close of 8529.38. 24of the Dow 30 declined and only BAC Bank of Am, INTC Intel, McD McDonald's, MRK Merck, MMM and TRV Traveler's gained.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Tuesday's Dow numerator was 1117.70 down 10.9 from Monday's numerator of 1128.60. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 10.9 in the Dow numerator by the divisor you get 82.38, the decrease in Tuesday's Dow.
The average closing price of Tuesday's Dow Jones was $37.26 down .36 from Monday's average closing price of $37.62. The median closing price of Monday's Dow Jones was $31.88 down $1.10 from Monday's median closing price $32.98.
The highest closing price Tuesday again was IBM $104.42 -1.41 -1.33% 7,201,641 NYSE and the lowest closing price Monday again was AA $10.33 -0.11 -1.05% 35,702,274 NYSE%.
The lowest volume Tuesday was TRV Travelers $41.04 +0.03 + 0.07% vol: 5,358,693 shares and the highest volume was BAC Bank of Am $13.2 +0.01 +0.08% Vol: 304,055,290 shares NYSE.
If Tuesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,080($112,860 - $111,780).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.84 -0.38 1.51% 27,450,931 NYSE
AA $10.33 -0.11 -1.05% 35,702,274 NYSE
AXP $23.24 -0.76 3.17% 19,639,164 NYSE
BAC $13.2 +0.01 +0.08% 304,055,290 NYSE
BA $42.5 -0.15 0.35% 8,225,285 NYSE
CAT $33.04 -1.70 4.89% 16,758,830 NYSE
CVX $66.25 -0.63 0.94% 12,211,309 NYSE
CSCO $18.65 -0.34 1.79% 51,646,937 NASDAQ-GS
KO $47.99 -0.30 0.62% 15,399,764 NYSE
DIS $23.33 -0.33 1.39% 10,335,098 NYSE
DD $25.62 -0.39 1.5% 7,642,294 NYSE
XOM $69.91 -0.67 0.95% 26,898,197 NYSE
GE $11.72 -0.04 0.34% 86,845,338 NYSE
HPQ $38.65 -0.33 0.85% 16,161,633 NYSE
HD $23.63 -0.24 1.01% 12,441,426 NYSE
INTC $16.55 +0.17 1.04% 63,700,737 NASDAQ-GS
IBM $104.42 -1.41 1.33% 7,201,641 NYSE
JPM $34.11 -0.49 1.42% 39,174,588 NYSE
JNJ $56.8 -0.16 0.28% 15,560,757 NYSE
KFT $25.34 -0.24 0.94% 10,033,015 NYSE
MCD $57.49 +0.26 0.45% 7,248,988 NYSE
MRK $27.96 +0.11 0.39% 21,291,985 NYSE
MSFT $23.77 -0.09 0.38% 65,066,870 NASDAQ-GS
PFE $15 -0.26 1.7% 50,643,316 NYSE
PG $51.1 -1.13 2.16% 14,194,798 NYSE
MMM $60.1 +0.14 0.23% 6,512,600 NYSE
TRV $41.04 +0.03 0.07% 5,358,693 NYSE
UTX $51.96 -0.51 0.97% 6,897,558 NYSE
VZ $30.73 -0.63 2.01% 16,839,251 NYSE
WMT $48.44 -0.32 0.66% 16,659,987 NYSE
A read of Tuesday's 6/30/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1, AJC @pA6 reports that a federal jury has ordered Abbott Laboratories to pay $1.67 billion to J&J Johnson & Johnson in a patent infringement suit because Abbott's rheumatoid arthritis therapy Humira infringed a patent that J&J's Centocor Ortho Biotech unit held for rival treatment Remicade. The patent is co-owned with NYU. The WSJ story reminds us that a previous large patent verdict was overturned in 2007 when MSFT Microsoft was ordered to pay Alcatel-Lucent $1.52 billion for violating digital-music technology but MSFT ultimately prevailed.
WSJ @pB4 says MCD McDonald's plans to expand into India by opening another 40 restaurants bringing the total Indian outlets to 200.
WSJ @pB4 has a story about French retailer Carrefour SA and it says that it is the world's second largest retailer by sales after WMT Wal-Mart.
WSJ @pB5 talks about how HPQ Hewlett-Packard and other computer makers have begun marketing low-end portables called netbooks through cellular providers - this in a story about Dell developing a pocket-sized device for tapping into the Internet.
WSJ @pB5 is in a story entitled "Microsoft Shops Web Agency to Advertising Holding Firms" saying MSFT has approached ad agencies to gauge their interest in buying Razorfish, a digital agency owned by MSFT.
WSJ @pB5 in a story says Comcast plans to begin offering wireless-broadband bands. Also, it is mentioned that T AT&T and VZ Verison will be building wrieless-broadband networks.
WSJ @pC1 says the Dow's strong finish yesterday was partially due to XOM Exxon Mobil's increase of 2.2% to $70.58. Same page it is metioned that JPM JPMorgan and BAC Bank of America are getting back to basics causing securities firms to have a strong quarter - the best quarter since the bailout. XOM Exxon and CVX Chevron are also mentioned as having a good day yesterday in the Large Stock Focus WSJ@pC5 that also says AA Alcoa tumbled after an analyst downgraded it and HPQ Hewlett-Packard rose 1.37 or 3.6% Alcoa is charted on the same page under the heading "And the Bad News". NYT @pB3 also cites XOM Exxon and MSFT Microsoft's good performance on the Dow yesterday noting that Microsoft rose 2.2% because Deutsche Bank raised its price estimate for them.
A JPM JPM Morgan Chase report on the drop of US interest rate and equity trading resulting in less volatility is the subject of a story @p26 of the Fin Times.
Fin Times @p28 mentions CVX Chevron and XOM Exxon Mobil's strong market performance yesterday while noting AA dropped due to analysts at FBR downgrading AA and also said MSFT gained.
Investor's Bus. daily @pA4 has a story "Chipmakers' Claims of Long Battery Life Pass the Sniff Test?" that talks about how companies are for the first time advertising battery life directly to the consumer noting that a recent Bust Buy print ad states that a HPQ Hewlett-Packard Compaq notebook computer with Intel Celeron processor gets up to 2 hours and 45 minutes of battery life on a charge. IBM and INTC Intel are mentioned as an example of chipmakers who are trying to make their chips more power efficient.
NYTimes @pB1 has a story about how a private banker moved funds illegally from clients and notes he was formerly with JPM JPM Morgan Chase.
USA Today @p1B says former Treasury Secretary Henry Paulson will testify next month before a House committee that is probing whether he pressured BAC Bank of Am. to acquire Merrill Lynch in a deal that cost taxpayers $20 billion.
The following is from yesterday's Blog except that the SEC filings were updated last night. A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
Here are the latest SEC filings as of 6/29/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/29/09 8K announcing results of offer to exchange up to 200 million of its shares
BA Boeing 6/26/09 8K announcing grant of options to James A. Bell
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/12/09 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 6/26/09 S8
IBM 6/17/09 Proxy by Shareholder
JPM JPMorgan 6/26/09 Freewriting Prospectus re: Return Optimization Securities
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/29/09 Proxy update re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 4/24/09 10Q
VZ Verizon 5/26 Free Writing Prospectus for Direct Investment Purch. shareholder .
WMT Wal-Mart 6/5/09 10Q
Tuesday, June 30, 2009
6/30 Tues a.m. J&J wins 41.67 Billion Lawsuit
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Monday at 8529.38 up 90.99 or 1.08% from Friday's close of 8438.39. 29of the Dow 30 gained and only AA Alcoa declined.
A read of Tuesday's 6/30/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1, AJC @pA6 reports that a federal jury has ordered Abbott Laboratories to pay $1.67 billion to J&J Johnson & Johnson in a patent infringement suit because Abbott's rheumatoid arthritis therapy Humira infringed a patent that J&J's Centocor Ortho Biotech unit held for rival treatment Remicade. The patent is co-owned with NYU. The WSJ story reminds us that a previous large patent verdict was overturned in 2007 when MSFT Microsoft was ordered to pay Alcatel-Lucent $1.52 billion for violating digital-music technology but MSFT ultimately prevailed.
WSJ @pB4 says MCD McDonald's plans to expand into India by opening another 40 restaurants bringing the total Indian outlets to 200.
WSJ @pB4 has a story about French retailer Carrefour SA and it says that it is the world's second largest retailer by sales after WMT Wal-Mart.
WSJ @pB5 talks about how HPQ Hewlett-Packard and other computer makers have begun marketing low-end portables called netbooks through cellular providers - this in a story about Dell developing a pocket-sized device for tapping into the Internet.
WSJ @pB5 is in a story entitled "Microsoft Shops Web Agency to Advertising Holding Firms" saying MSFT has approached ad agencies to gauge their interest in buying Razorfish, a digital agency owned by MSFT.
WSJ @pB5 in a story says Comcast plans to begin offering wireless-broadband bands. Also, it is mentioned that T AT&T and VZ Verison will be building wrieless-broadband networks.
WSJ @pC1 says the Dow's strong finish yesterday was partially due to XOM Exxon Mobil's increase of 2.2% to $70.58. Same page it is metioned that JPM JPMorgan and BAC Bank of America are getting back to basics causing securities firms to have a strong quarter - the best quarter since the bailout. XOM Exxon and CVX Chevron are also mentioned as having a good day yesterday in the Large Stock Focus WSJ@pC5 that also says AA Alcoa tumbled after an analyst downgraded it and HPQ Hewlett-Packard rose 1.37 or 3.6% Alcoa is charted on the same page under the heading "And the Bad News". NYT @pB3 also cites XOM Exxon and MSFT Microsoft's good performance on the Dow yesterday noting that Microsoft rose 2.2% because Deutsche Bank raised its price estimate for them.
A JPM JPM Morgan Chase report on the drop of US interest rate and equity trading resulting in less volatility is the subject of a story @p26 of the Fin Times.
Fin Times @p28 mentions CVX Chevron and XOM Exxon Mobil's strong market performance yesterday while noting AA dropped due to analysts at FBR downgrading AA and also said MSFT gained.
Investor's Bus. daily @pA4 has a story "Chipmakers' Claims of Long Battery Life Pass the Sniff Test?" that talks about how companies are for the first time advertising battery life directly to the consumer noting that a recent Bust Buy print ad states that a HPQ Hewlett-Packard Compaq notebook computer with Intel Celeron processor gets up to 2 hours and 45 minutes of battery life on a charge. IBM and INTC Intel are mentioned as an example of chipmakers who are trying to make their chips more power efficient.
NYTimes @pB1 has a story about how a private banker moved funds illegally from clients and notes he was formerly with JPM JPM Morgan Chase.
USA Today @p1B says former Treasury Secretary Henry Paulson will testify next month before a House committee that is probing whether he pressured BAC Bank of Am. to acquire Merrill Lynch in a deal that cost taxpayers $20 billion.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1128.60 up 12.04 from Friday's numerator of 1116.56. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow increase of 12.04 in the Dow numerator by the divisor you get 90.99, the increase in Monday's Dow.
The average closing price of Monday's Dow Jones was $37.62 up .40 from Friday's average closing price of $37.22. The median closing price of Monday's Dow Jones was $32.98.
The highest closing price Mondayday again was IBM $105.83 +0.15 0.14% 4,549,636 NYSE and the lowest closing price Monday again was AA Alcoa $10.44 -0.32 2.97%.
The lowest volume Monday was MMM $59.96 +0.70 1.18% vol: 3,174,689 NYSE and the highest volume was BAC Bank of Am BAC $13.19 +0.44 3.45% vol: 326,692,941.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $200 $300 ($112,860 - $111,660).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.22 +0.40 1.61% 22,544,805 NYSE
AA $10.44 -0.32 2.97% 30,561,328 NYSE
AXP $24 +0.24 1.01% 13,119,407 NYSE
BAC $13.19 +0.44 3.45% 326,692,941 NYSE
BA $42.65 +0.77 1.84% 5,486,499 NYSE
CAT $34.74 +0.18 0.52% 6,732,317 NYSE
CVX $66.88 +0.93 1.41% 10,184,487 NYSE
CSCO $18.99 +0.08 0.42% 48,358,379 NASDAQ-GS
KO $48.29 +0.16 0.33% 8,711,940 NYSE
DIS $23.66 +0.23 0.98% 7,643,513 NYSE
DD $26.01 +0.63 2.48% 7,163,105 NYSE
XOM $70.58 +1.53 2.22% 24,130,988 NYSE
GE $11.76 +0.01 0.09% 52,121,092 NYSE
HPQ $38.98 +1.37 3.64% 24,599,940 NYSE
HD $23.87 +0.26 1.1% 12,202,923 NYSE
INTC $16.38 +0.09 0.55% 58,912,518 NASDAQ-GS
IBM $105.83 +0.15 0.14% 4,549,636 NYSE
JPM $34.6 +0.15 0.44% 34,057,729 NYSE
JNJ $56.96 +0.36 0.64% 12,406,986 NYSE
KFT $25.58 +0.02 0.08% 6,620,083 NYSE
MCD $57.23 +0.23 0.4% 5,652,846 NYSE
MRK $27.85 +0.85 3.15% 21,826,443 NYSE
MSFT $23.86 +0.51 2.18% 61,832,291 NASDAQ-GS
PFE $15.26 +0.07 0.46% 31,515,735 NYSE
PG $52.23 +0.48 0.93% 8,275,767 NYSE
MMM $59.96 +0.70 1.18% 3,174,689 NYSE
TRV $41.01 +0.13 0.32% 5,603,003 NYSE
UTX $52.47 +0.92 1.78% 5,075,580 NYSE
VZ $31.36 +0.37 1.19% 10,325,901 NYSE
WMT $48.76 +0.13 0.27% 16,125,003 NYSE
The following is from yesterday's Blog except that the SEC filings were updated last night. A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
Here are the latest SEC filings as of 6/29/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/29/09 8K announcing results of offer to exchange up to 200 million of its shares
BA Boeing 6/26/09 8K announcing grant of options to James A. Bell
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/12/09 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 6/26/09 S8
IBM 6/17/09 Proxy by Shareholder
JPM JPMorgan 6/26/09 Freewriting Prospectus re: Return Optimization Securities
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/29/09 Proxy update re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 4/24/09 10Q
VZ Verizon 5/26 Free Writing Prospectus for Direct Investment Purch. shareholder .
WMT Wal-Mart 6/5/09 10Q
The Dow closed Monday at 8529.38 up 90.99 or 1.08% from Friday's close of 8438.39. 29of the Dow 30 gained and only AA Alcoa declined.
A read of Tuesday's 6/30/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1, AJC @pA6 reports that a federal jury has ordered Abbott Laboratories to pay $1.67 billion to J&J Johnson & Johnson in a patent infringement suit because Abbott's rheumatoid arthritis therapy Humira infringed a patent that J&J's Centocor Ortho Biotech unit held for rival treatment Remicade. The patent is co-owned with NYU. The WSJ story reminds us that a previous large patent verdict was overturned in 2007 when MSFT Microsoft was ordered to pay Alcatel-Lucent $1.52 billion for violating digital-music technology but MSFT ultimately prevailed.
WSJ @pB4 says MCD McDonald's plans to expand into India by opening another 40 restaurants bringing the total Indian outlets to 200.
WSJ @pB4 has a story about French retailer Carrefour SA and it says that it is the world's second largest retailer by sales after WMT Wal-Mart.
WSJ @pB5 talks about how HPQ Hewlett-Packard and other computer makers have begun marketing low-end portables called netbooks through cellular providers - this in a story about Dell developing a pocket-sized device for tapping into the Internet.
WSJ @pB5 is in a story entitled "Microsoft Shops Web Agency to Advertising Holding Firms" saying MSFT has approached ad agencies to gauge their interest in buying Razorfish, a digital agency owned by MSFT.
WSJ @pB5 in a story says Comcast plans to begin offering wireless-broadband bands. Also, it is mentioned that T AT&T and VZ Verison will be building wrieless-broadband networks.
WSJ @pC1 says the Dow's strong finish yesterday was partially due to XOM Exxon Mobil's increase of 2.2% to $70.58. Same page it is metioned that JPM JPMorgan and BAC Bank of America are getting back to basics causing securities firms to have a strong quarter - the best quarter since the bailout. XOM Exxon and CVX Chevron are also mentioned as having a good day yesterday in the Large Stock Focus WSJ@pC5 that also says AA Alcoa tumbled after an analyst downgraded it and HPQ Hewlett-Packard rose 1.37 or 3.6% Alcoa is charted on the same page under the heading "And the Bad News". NYT @pB3 also cites XOM Exxon and MSFT Microsoft's good performance on the Dow yesterday noting that Microsoft rose 2.2% because Deutsche Bank raised its price estimate for them.
A JPM JPM Morgan Chase report on the drop of US interest rate and equity trading resulting in less volatility is the subject of a story @p26 of the Fin Times.
Fin Times @p28 mentions CVX Chevron and XOM Exxon Mobil's strong market performance yesterday while noting AA dropped due to analysts at FBR downgrading AA and also said MSFT gained.
Investor's Bus. daily @pA4 has a story "Chipmakers' Claims of Long Battery Life Pass the Sniff Test?" that talks about how companies are for the first time advertising battery life directly to the consumer noting that a recent Bust Buy print ad states that a HPQ Hewlett-Packard Compaq notebook computer with Intel Celeron processor gets up to 2 hours and 45 minutes of battery life on a charge. IBM and INTC Intel are mentioned as an example of chipmakers who are trying to make their chips more power efficient.
NYTimes @pB1 has a story about how a private banker moved funds illegally from clients and notes he was formerly with JPM JPM Morgan Chase.
USA Today @p1B says former Treasury Secretary Henry Paulson will testify next month before a House committee that is probing whether he pressured BAC Bank of Am. to acquire Merrill Lynch in a deal that cost taxpayers $20 billion.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1128.60 up 12.04 from Friday's numerator of 1116.56. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow increase of 12.04 in the Dow numerator by the divisor you get 90.99, the increase in Monday's Dow.
The average closing price of Monday's Dow Jones was $37.62 up .40 from Friday's average closing price of $37.22. The median closing price of Monday's Dow Jones was $32.98.
The highest closing price Mondayday again was IBM $105.83 +0.15 0.14% 4,549,636 NYSE and the lowest closing price Monday again was AA Alcoa $10.44 -0.32 2.97%.
The lowest volume Monday was MMM $59.96 +0.70 1.18% vol: 3,174,689 NYSE and the highest volume was BAC Bank of Am BAC $13.19 +0.44 3.45% vol: 326,692,941.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $200 $300 ($112,860 - $111,660).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.22 +0.40 1.61% 22,544,805 NYSE
AA $10.44 -0.32 2.97% 30,561,328 NYSE
AXP $24 +0.24 1.01% 13,119,407 NYSE
BAC $13.19 +0.44 3.45% 326,692,941 NYSE
BA $42.65 +0.77 1.84% 5,486,499 NYSE
CAT $34.74 +0.18 0.52% 6,732,317 NYSE
CVX $66.88 +0.93 1.41% 10,184,487 NYSE
CSCO $18.99 +0.08 0.42% 48,358,379 NASDAQ-GS
KO $48.29 +0.16 0.33% 8,711,940 NYSE
DIS $23.66 +0.23 0.98% 7,643,513 NYSE
DD $26.01 +0.63 2.48% 7,163,105 NYSE
XOM $70.58 +1.53 2.22% 24,130,988 NYSE
GE $11.76 +0.01 0.09% 52,121,092 NYSE
HPQ $38.98 +1.37 3.64% 24,599,940 NYSE
HD $23.87 +0.26 1.1% 12,202,923 NYSE
INTC $16.38 +0.09 0.55% 58,912,518 NASDAQ-GS
IBM $105.83 +0.15 0.14% 4,549,636 NYSE
JPM $34.6 +0.15 0.44% 34,057,729 NYSE
JNJ $56.96 +0.36 0.64% 12,406,986 NYSE
KFT $25.58 +0.02 0.08% 6,620,083 NYSE
MCD $57.23 +0.23 0.4% 5,652,846 NYSE
MRK $27.85 +0.85 3.15% 21,826,443 NYSE
MSFT $23.86 +0.51 2.18% 61,832,291 NASDAQ-GS
PFE $15.26 +0.07 0.46% 31,515,735 NYSE
PG $52.23 +0.48 0.93% 8,275,767 NYSE
MMM $59.96 +0.70 1.18% 3,174,689 NYSE
TRV $41.01 +0.13 0.32% 5,603,003 NYSE
UTX $52.47 +0.92 1.78% 5,075,580 NYSE
VZ $31.36 +0.37 1.19% 10,325,901 NYSE
WMT $48.76 +0.13 0.27% 16,125,003 NYSE
The following is from yesterday's Blog except that the SEC filings were updated last night. A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
Here are the latest SEC filings as of 6/29/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/29/09 8K announcing results of offer to exchange up to 200 million of its shares
BA Boeing 6/26/09 8K announcing grant of options to James A. Bell
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/12/09 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 6/26/09 S8
IBM 6/17/09 Proxy by Shareholder
JPM JPMorgan 6/26/09 Freewriting Prospectus re: Return Optimization Securities
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/29/09 Proxy update re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 4/24/09 10Q
VZ Verizon 5/26 Free Writing Prospectus for Direct Investment Purch. shareholder .
WMT Wal-Mart 6/5/09 10Q
Monday, June 29, 2009
6/29 pm Dow up 90.99 or 1.08% to 8529.38
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Monday at 8529.38 up 90.99 or 1.08% from Friday's close of 8438.39. 29 of the Dow 30 gained and only AA Alcoa declined.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1128.60 up 12.04 from Friday's numerator of 1116.56. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow increase of 12.04 in the Dow numerator by the divisor you get 90.99, the increase in Monday's Dow.
The average closing price of Monday's Dow Jones was $37.62 up .40 from Friday's average closing price of $37.22. The median closing price of Monday's Dow Jones was $32.98.
The highest closing price Mondayday again was IBM $105.83 +0.15 0.14% 4,549,636 NYSE and the lowest closing price Monday again was AA Alcoa $10.44 -0.32 2.97%.
The lowest volume Monday was MMM $59.96 +0.70 1.18% vol: 3,174,689 NYSE and the highest volume was BAC Bank of Am BAC $13.19 +0.44 3.45% vol: 326,692,941.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $200 $300 ($112,860 - $111,660).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.22 +0.40 1.61% 22,544,805 NYSE
AA $10.44 -0.32 2.97% 30,561,328 NYSE
AXP $24 +0.24 1.01% 13,119,407 NYSE
BAC $13.19 +0.44 3.45% 326,692,941 NYSE
BA $42.65 +0.77 1.84% 5,486,499 NYSE
CAT $34.74 +0.18 0.52% 6,732,317 NYSE
CVX $66.88 +0.93 1.41% 10,184,487 NYSE
CSCO $18.99 +0.08 0.42% 48,358,379 NASDAQ-GS
KO $48.29 +0.16 0.33% 8,711,940 NYSE
DIS $23.66 +0.23 0.98% 7,643,513 NYSE
DD $26.01 +0.63 2.48% 7,163,105 NYSE
XOM $70.58 +1.53 2.22% 24,130,988 NYSE
GE $11.76 +0.01 0.09% 52,121,092 NYSE
HPQ $38.98 +1.37 3.64% 24,599,940 NYSE
HD $23.87 +0.26 1.1% 12,202,923 NYSE
INTC $16.38 +0.09 0.55% 58,912,518 NASDAQ-GS
IBM $105.83 +0.15 0.14% 4,549,636 NYSE
JPM $34.6 +0.15 0.44% 34,057,729 NYSE
JNJ $56.96 +0.36 0.64% 12,406,986 NYSE
KFT $25.58 +0.02 0.08% 6,620,083 NYSE
MCD $57.23 +0.23 0.4% 5,652,846 NYSE
MRK $27.85 +0.85 3.15% 21,826,443 NYSE
MSFT $23.86 +0.51 2.18% 61,832,291 NASDAQ-GS
PFE $15.26 +0.07 0.46% 31,515,735 NYSE
PG $52.23 +0.48 0.93% 8,275,767 NYSE
MMM $59.96 +0.70 1.18% 3,174,689 NYSE
TRV $41.01 +0.13 0.32% 5,603,003 NYSE
UTX $52.47 +0.92 1.78% 5,075,580 NYSE
VZ $31.36 +0.37 1.19% 10,325,901 NYSE
WMT $48.76 +0.13 0.27% 16,125,003 NYSE
A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
Here are the latest SEC filings as of 6/29/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/29/09 8K announcing results of offer to exchange up to 200 million of its shares
BA Boeing 6/26/09 8K announcing grant of options to James A. Bell
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/12/09 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 6/26/09 S8
IBM 6/17/09 Proxy by Shareholder
JPM JPMorgan 6/26/09 Freewriting Prospectus re: Return Optimization Securities
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/29/09 Proxy update re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 4/24/09 10Q
VZ Verizon 5/26 Free Writing Prospectus for Direct Investment Purch. shareholder .
WMT Wal-Mart 6/5/09 10Q
The Dow closed Monday at 8529.38 up 90.99 or 1.08% from Friday's close of 8438.39. 29 of the Dow 30 gained and only AA Alcoa declined.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1128.60 up 12.04 from Friday's numerator of 1116.56. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow increase of 12.04 in the Dow numerator by the divisor you get 90.99, the increase in Monday's Dow.
The average closing price of Monday's Dow Jones was $37.62 up .40 from Friday's average closing price of $37.22. The median closing price of Monday's Dow Jones was $32.98.
The highest closing price Mondayday again was IBM $105.83 +0.15 0.14% 4,549,636 NYSE and the lowest closing price Monday again was AA Alcoa $10.44 -0.32 2.97%.
The lowest volume Monday was MMM $59.96 +0.70 1.18% vol: 3,174,689 NYSE and the highest volume was BAC Bank of Am BAC $13.19 +0.44 3.45% vol: 326,692,941.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $200 $300 ($112,860 - $111,660).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.22 +0.40 1.61% 22,544,805 NYSE
AA $10.44 -0.32 2.97% 30,561,328 NYSE
AXP $24 +0.24 1.01% 13,119,407 NYSE
BAC $13.19 +0.44 3.45% 326,692,941 NYSE
BA $42.65 +0.77 1.84% 5,486,499 NYSE
CAT $34.74 +0.18 0.52% 6,732,317 NYSE
CVX $66.88 +0.93 1.41% 10,184,487 NYSE
CSCO $18.99 +0.08 0.42% 48,358,379 NASDAQ-GS
KO $48.29 +0.16 0.33% 8,711,940 NYSE
DIS $23.66 +0.23 0.98% 7,643,513 NYSE
DD $26.01 +0.63 2.48% 7,163,105 NYSE
XOM $70.58 +1.53 2.22% 24,130,988 NYSE
GE $11.76 +0.01 0.09% 52,121,092 NYSE
HPQ $38.98 +1.37 3.64% 24,599,940 NYSE
HD $23.87 +0.26 1.1% 12,202,923 NYSE
INTC $16.38 +0.09 0.55% 58,912,518 NASDAQ-GS
IBM $105.83 +0.15 0.14% 4,549,636 NYSE
JPM $34.6 +0.15 0.44% 34,057,729 NYSE
JNJ $56.96 +0.36 0.64% 12,406,986 NYSE
KFT $25.58 +0.02 0.08% 6,620,083 NYSE
MCD $57.23 +0.23 0.4% 5,652,846 NYSE
MRK $27.85 +0.85 3.15% 21,826,443 NYSE
MSFT $23.86 +0.51 2.18% 61,832,291 NASDAQ-GS
PFE $15.26 +0.07 0.46% 31,515,735 NYSE
PG $52.23 +0.48 0.93% 8,275,767 NYSE
MMM $59.96 +0.70 1.18% 3,174,689 NYSE
TRV $41.01 +0.13 0.32% 5,603,003 NYSE
UTX $52.47 +0.92 1.78% 5,075,580 NYSE
VZ $31.36 +0.37 1.19% 10,325,901 NYSE
WMT $48.76 +0.13 0.27% 16,125,003 NYSE
A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
Here are the latest SEC filings as of 6/29/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/29/09 8K announcing results of offer to exchange up to 200 million of its shares
BA Boeing 6/26/09 8K announcing grant of options to James A. Bell
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/12/09 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 6/26/09 S8
IBM 6/17/09 Proxy by Shareholder
JPM JPMorgan 6/26/09 Freewriting Prospectus re: Return Optimization Securities
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/29/09 Proxy update re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 4/24/09 10Q
VZ Verizon 5/26 Free Writing Prospectus for Direct Investment Purch. shareholder .
WMT Wal-Mart 6/5/09 10Q
6/29 am BA Boeing Under Pressure from 787 Buyers
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Friday 8438.39 down 34.01 down 1.2% for the week, up 1.7% for the month and up 8.5% for the past 3 months.
A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
The Dow closed Friday 8438.39 down 34.01 down 1.2% for the week, up 1.7% for the month and up 8.5% for the past 3 months.
A read of Monday 6/29/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today and recent weekly periodicals such as Barron's and Atlanta Business Chronicle yielded the following stories about Dow Jones 30 component companies:
WSJ @pB1 has a story about BA Boeing being under pressure to make concessions to its buyers of its now delayed 787 Dreamliner. Sat.'s NYTimes @ pB5 and WSJ 6/27-28 @pB5 have stories that Quantas withdrew or deferred orders for 30 of Boeing's 787 Dreamliners. Ny Times 6/28 @p8 said BA shares dropped 13.5% last week, the worst in the Dow due to the 787 delay.
WSJ @pB2 in a story about Justice Dept. seeking more information on the proposed acquisition of Sun Microsystems Inc. by Oracle mentioned that earlier Sun and tried to do a deal with IBM that didn't happen. IBM was also mentioned in a story at NYT pB1 6/26 about bar codes being replaced by RFID technology which noted that IBM invented bar coding in 1970. WSJ 6/27 @B5 said IBM lost its motion for a prelminary injunction seeking to stop a former executive from working at rival Dell. IBM is also the subject of a Forbes 7/13 article @p40 about how an IBM researcher's algorithm could be used to analyze information without reading it thus protecting privacy rights.
WSJ @pB2 says XOM Exxon Mobil Corp. has found at least two unauthorized Twitter accounts under variatins of its name in an article about Twitte imposters.
Fin Times FT @p15 says Razorfish, its digital agency is up for sale by MSFT Microsfot who has hired organ Stanley to find a buyer. MSFT was mentioned in Barrons 6/29 @p31 saying that rumors that Yahoo! and MSFT may still get together in a merger of some kind. According to AJC 6/26 MSFT said that prices for the Windows 7 computer system will be about the same as for Vista, in some cases as low as $50 (this was alos reported in Barron's 6/29 @ p14. MSFT is the subject of a story in Forbes 7/13 @p43 about MSFT's Office encryption is first-rate but it ttook a while to develop it. MSFT is also discussed in a story @ Forbes p36 7/13 about former MSFT executives Paul Maritz and Tod Nielsen leaving MSFT and are running VMware, a software company with $1.9 billion in revenue that has become "the standard-setter in the exploding market for computer virtualization."
Fin Times @p16 says BAC Bank of America Merrill Lynch's Asia-Pacific unit is trying to recurit bankers in order to expand its Asia unit. AJC @pA15 said BAC said on Thursday it will raise more money than the government said it needed, having raised $38 billion which is more than the $33.9 billion the Fed said it needed. WSJ 2 pB2 6./27 said BAC Bank of America Tower got refinancing with a $1.28 billion 3 year mortgage.
NYT 6/27 @pB2 had a story that CSCO Cisco and some other companies do not have to follow "buy American" rules for some computer components supplied under a $4.7 billion program to build high-spped Internet lines a Federal agency has ruled.
Barrons 6/29 @p29 quotes HPQ Hewlett-Packard CEO Mark Hurd as saying he puts his company first over his all other of his priorities including his own family.
NYT @ pB2 6/27 said JPM JPM Morgan Chase and Citigroup are re-eintering the jumbo mortgage business.
6/27 AJC @pA12 said WMT Wal-Mart among other retailers was going to add self-service vision screening kiosks to their stores called EyeSites.
GE is going to build a $100 million manufacturing technology center in Michigan that wille eventually employ about 1,200 workers according to AJC 6/27 @pA13, IBD 6/29, NYT 6/27 @ pB2 and WSJ 6/27-28 @ pA3.
Barron's BRN 6/29 @p17 has a story about Wendy's/Arby's that says MCD McDonald's has a P/E of 9 which is in line with fast-food's historic EBITDA multiple.
BRN's @p13 6.29 has a story about bonds noting that MRK Merck recently did a $4.25 billion bond issuance at a yield of 5%. The article noted that T AT&T's stock dividend yield of 6.7% is comparable to the rate on some of its longer-term debt and that MSFT which in May sold debt for the first time, paid 3% to 5.24% for money "it doesn't need." Fin Times 6/27-28 said that Merck of US is close to restructuring its animal medicines assets in a deal likely to be finalized soon with its partner Sanofi-Aventis that could earn it more than $10 bill.
Atlanta Business Chronicle 6/29 on its front page said that KFT Kraft is targeting Atlanta for a 1.1 million square foot warehouse that could create 200 new jobs. The article noted that WMT Wal-Mart accounts for 16% of KFT's sales. Atlanta Business Chronicle, same issue, @p3A has a story about PG Procter & Gamble's plans to launch a national franchise-based car wash chain, Mr. Clean Car Wash, to be based in Atlanta. PG is mentioned in a story @p52 of 7/13 Forbes that PG's p/e is 9 in a story about its competitor Prestige Brands.
Investor's Business Daily @pA6 6/29 has an article about chipmaker STEC and mentions HPQ Hewlett-Packard and IBM as customers for its solid state devices.
IBD 6/29 @pA9 has a story about biosimilars which are generic biologics that are based on genes instead of chemicls and mentioned MRK's biosimilars of Neupogen and Neulasta (in development) which they acquired by buying Insmed's biologics unit in February. PFE Pfizer and Sanofi-Aventis are rumored to be considering buying Wockhardt, an Indian biosimilar ocmpany according to the article.
AJC 6/27 @pA14 said KO announced the opening of two new plants and then two days later PepsiCo said it had opened its first overseas "green" plant in China.
Forbes 7/13 @p92 has a story about how CVX Chevron got an environmental suit thrown out of New York in favor of litigating in Ecuador and now they may be hit with a $27 billion judgment later this year.
Thursday, June 25, 2009
6/25 Thurs. New Details re: BAC Bank of Am Secret Deal
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Wed. at 8299.86 down 23.05 or down 0.28. Of the Dow 15 gained value and 14 lost and PG Procter & Gamble was unchanged.
A read of Thurs. 6/25/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @ pC1 there is a story about a possible secret agreement between regulators and BAC Bank of Amer's that occurred during the gov. bailout details that will be revealed during Fed. Reserve's Ben Bernanke's testimony before Congress today. This is also reported at Fin Times p22. NYTimes at pB4 has a similar story
WSJ @ pC3 has an article about Duoyuan Global Water Inc.'s (a Chinese company) IPO soaring 37%. The story notes that Duoyuan competes with a subsidiary of GE in the water-treatment industry. GE is also mentined at WSJ pB2 as being in a dispute with rail-car maker Greenbrier over a $1.2 billion contract.
WSJ @pC has a story entitled "Boeing, Down 5.8%" that said how Beoing dragged the Dow down because of its announcement that it was delaying the first flight of its 787 Dreamliner. JPM JPMorgan is cited as saying the delay will push BA Boeing's per share earnings down. Your blogger issued a Research Report this morning and a related Press Release on PR Newswire saying BA is a buy because it did the right thing in delaying the flight instead of spinning it and the stock market will eventually recognize that. WSJ @pC10 has a story entitled "Dreamliner's Asian Angst" that says Boeing's delay will hurt Asian airlines.
WSJ @pB1 has a story about how the Oscars will double the nmber of nominees for Bst Picture to 10 films that will help Dis Walt Disney's small movies that aren't necessarily commercial hits but are good such as Dis' "Wall-E." Dis and GE's NBC Universal are in a story @ WSJ pB5 about how several major cable networks are readying systems that will let only paying subscribers watch cable shows on the web. Networks such as A&E and the History Channel, which are owned by a venture that includes Dis Walt Disney and GE's NBC are going to participate in a test by Comcast and other to be held this summer. Time Warner's CEO Jeff Bewkes, a proponent of this new plan, said he is in talks with other providers including VZ Verizon and T AT&T. This is also reported at Fin Times p15.
PFE Pfizer is mentioned at WSJ pB5 in a story about how Sanofi, a French drug maker, is preparing a big push into generic drugs because its US patent protection of Plavix, the anticlotting drugg is ending soon in 2011. This drug is the world's second biggest drug second only to PFE's cholesterol pill Lipitor.
WMT Wal-Mart is mentioned at WSJ pB9 in a story about Best Buy planning to open 40 stand alone mobile-phone stories and that one of the reasons is the growing competition from WMT which is expanding its share of the electronics market.
AJC at pA10 said that KO Coke and its bottling partner COFCO announced Wednesday the opening of two new bottling plants in China.
AA Alcoa rose 2.1% yesterday to $10.21 notes FT @ p22 in a story about yesterday's Dow that also mentins MSFT Microsoft rising 0.6% and BAC Bank of Am dropping 2.5%.
MSFT Microsoft is mentioned in a story @ NY Times B5 how it is discontinuing its free download for software to fight malware like viruses. (Malware is not a misspelling.)
Investor's Bus. Daily IBD at pA2 says INTC Intel said its cleared a hurdle in its proposed $884 million takeover of software maker Wind River Systems as a federal antitrust waiting period expired pushing INTC up 1.8% yesterday to 16.10.
IBD at pA4 has a story that says IBM is now no. 2 in software behind MSFT Miscrosoft and says HP Hewlett Packard has not been so successful in selling software despite spending $6.5 billio buying software companies in recent years. In a story on the same page it is said that Novell, an open source software company has been coming on strong lately in part due to its partnership with MSFT. In the next page A5, IBD has a story about how many people are trying to take credit for the favorable features of MSFT's Bing search engine.
IBD 2pB3 ahs a story about Cerner being the largest firm in health digital records. Cerner competes with GE's GE Health-care and GE Capital.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Wedesday's Dow numerator was 1098.23 down 3.05 from Tuesday's Dow numerator which was 1101.28. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 3.05 in the Dow numerator by the divisor you get 23.05, the decrease in Wednesday's Dow.
The average closing price of Wednesday's Dow Jones was $36.61 down .10 from Tuesday's average closing price of $36.71. The median closing price of Wednesday's Dow Jones was $33.43 up $1.67 from Tuesday's median closing price of $31.76.
The highest closing price Wednesday again was IBM $104.15 down 0.29 - 0.28% vol:6,340,234 NYSE and the lowest closing price Wednesday again was AA Alcoa $10.21 up 0.21 + 2.1% vol: 39,065,070 NYSE.
The lowest volume Wednesday was MMM 3M $57.48 + 0.42 0.74% vol: 4,412,059 NYSE and the highest volume was BAC Bank of Am $12.35 + 0.12 0.98% vol: 332,663,907 NYSE.
If Wednesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $300 ($110,130 - $109,830).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.65 -0.01 0.04% 27,003,610 NYSE
AA $10.21 +0.21 2.1% 39,065,070 NYSE
AXP $22.93 -0.46 1.97% 18,303,539 NYSE
BAC $12.35 +0.12 0.98% 332,663,907 NYSE
BA $41.32 -2.55 5.81% 21,214,620 NYSE
CAT $33.4 +0.40 1.21% 10,259,820 NYSE
CVX $65.72 -0.24 0.36% 11,567,424 NYSE
CSCO $18.61 +0.04 0.22% 46,814,335 NASDAQ-GS
KO $47.5 -0.30 -0.63% 8,824,686 NYSE
DIS $22.9 +0.02 +0.09% 9,933,083 NYSE
DD $24.83 +0.43 +1.76% 8,246,601 NYSE
XOM $68.45 -0.50 -0.73% 20,671,562 NYSE
GE $11.7 +0.10 0.86% 82,112,867 NYSE
HPQ $37.22 -0.14 0.37% 17,268,361 NYSE
HD $22.68 -0.20 0.87% 14,425,880 NYSE
INTC $16.1 +0.29 1.83% 52,740,243 NASDAQ-GS
IBM $104.15 -0.29 0.28% 6,340,234 NYSE
JPM $33.46 -0.11 0.33% 50,224,203 NYSE
JNJ $55.46 +0.45 0.82% 12,341,435 NYSE
KFT $25.74 +0.11 0.43% 10,893,944 NYSE
MCD $56.3 -0.46 0.81% 7,231,551 NYSE
MRK $25.45 +0.34 1.35% 15,133,253 NYSE
MSFT $23.47 +0.13 0.56% 53,825,247 NASDAQ-GS
PFE $14.72 -0.01 0.07% 38,064,646 NYSE
PG $50.55 unch unch 12,304,838 NYSE
MMM $57.48 + 0.42 0.74% 4,412,059 NYSE
TRV $40.76 -0.24 0.59% 4,478,536 NYSE
UTX $50.81 -1.03 1.99% 6,442,172 NYSE
VZ $30.8 +0.28 0.92% 14,173,235 NYSE
WMT $48.51 +0.16 0.33% 16,605,456 NYSE
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
The Dow closed Wed. at 8299.86 down 23.05 or down 0.28. Of the Dow 15 gained value and 14 lost and PG Procter & Gamble was unchanged.
A read of Thurs. 6/25/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @ pC1 there is a story about a possible secret agreement between regulators and BAC Bank of Amer's that occurred during the gov. bailout details that will be revealed during Fed. Reserve's Ben Bernanke's testimony before Congress today. This is also reported at Fin Times p22. NYTimes at pB4 has a similar story
WSJ @ pC3 has an article about Duoyuan Global Water Inc.'s (a Chinese company) IPO soaring 37%. The story notes that Duoyuan competes with a subsidiary of GE in the water-treatment industry. GE is also mentined at WSJ pB2 as being in a dispute with rail-car maker Greenbrier over a $1.2 billion contract.
WSJ @pC has a story entitled "Boeing, Down 5.8%" that said how Beoing dragged the Dow down because of its announcement that it was delaying the first flight of its 787 Dreamliner. JPM JPMorgan is cited as saying the delay will push BA Boeing's per share earnings down. Your blogger issued a Research Report this morning and a related Press Release on PR Newswire saying BA is a buy because it did the right thing in delaying the flight instead of spinning it and the stock market will eventually recognize that. WSJ @pC10 has a story entitled "Dreamliner's Asian Angst" that says Boeing's delay will hurt Asian airlines.
WSJ @pB1 has a story about how the Oscars will double the nmber of nominees for Bst Picture to 10 films that will help Dis Walt Disney's small movies that aren't necessarily commercial hits but are good such as Dis' "Wall-E." Dis and GE's NBC Universal are in a story @ WSJ pB5 about how several major cable networks are readying systems that will let only paying subscribers watch cable shows on the web. Networks such as A&E and the History Channel, which are owned by a venture that includes Dis Walt Disney and GE's NBC are going to participate in a test by Comcast and other to be held this summer. Time Warner's CEO Jeff Bewkes, a proponent of this new plan, said he is in talks with other providers including VZ Verizon and T AT&T. This is also reported at Fin Times p15.
PFE Pfizer is mentioned at WSJ pB5 in a story about how Sanofi, a French drug maker, is preparing a big push into generic drugs because its US patent protection of Plavix, the anticlotting drugg is ending soon in 2011. This drug is the world's second biggest drug second only to PFE's cholesterol pill Lipitor.
WMT Wal-Mart is mentioned at WSJ pB9 in a story about Best Buy planning to open 40 stand alone mobile-phone stories and that one of the reasons is the growing competition from WMT which is expanding its share of the electronics market.
AJC at pA10 said that KO Coke and its bottling partner COFCO announced Wednesday the opening of two new bottling plants in China.
AA Alcoa rose 2.1% yesterday to $10.21 notes FT @ p22 in a story about yesterday's Dow that also mentins MSFT Microsoft rising 0.6% and BAC Bank of Am dropping 2.5%.
MSFT Microsoft is mentioned in a story @ NY Times B5 how it is discontinuing its free download for software to fight malware like viruses. (Malware is not a misspelling.)
Investor's Bus. Daily IBD at pA2 says INTC Intel said its cleared a hurdle in its proposed $884 million takeover of software maker Wind River Systems as a federal antitrust waiting period expired pushing INTC up 1.8% yesterday to 16.10.
IBD at pA4 has a story that says IBM is now no. 2 in software behind MSFT Miscrosoft and says HP Hewlett Packard has not been so successful in selling software despite spending $6.5 billio buying software companies in recent years. In a story on the same page it is said that Novell, an open source software company has been coming on strong lately in part due to its partnership with MSFT. In the next page A5, IBD has a story about how many people are trying to take credit for the favorable features of MSFT's Bing search engine.
IBD 2pB3 ahs a story about Cerner being the largest firm in health digital records. Cerner competes with GE's GE Health-care and GE Capital.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Wedesday's Dow numerator was 1098.23 down 3.05 from Tuesday's Dow numerator which was 1101.28. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 3.05 in the Dow numerator by the divisor you get 23.05, the decrease in Wednesday's Dow.
The average closing price of Wednesday's Dow Jones was $36.61 down .10 from Tuesday's average closing price of $36.71. The median closing price of Wednesday's Dow Jones was $33.43 up $1.67 from Tuesday's median closing price of $31.76.
The highest closing price Wednesday again was IBM $104.15 down 0.29 - 0.28% vol:6,340,234 NYSE and the lowest closing price Wednesday again was AA Alcoa $10.21 up 0.21 + 2.1% vol: 39,065,070 NYSE.
The lowest volume Wednesday was MMM 3M $57.48 + 0.42 0.74% vol: 4,412,059 NYSE and the highest volume was BAC Bank of Am $12.35 + 0.12 0.98% vol: 332,663,907 NYSE.
If Wednesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $300 ($110,130 - $109,830).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.65 -0.01 0.04% 27,003,610 NYSE
AA $10.21 +0.21 2.1% 39,065,070 NYSE
AXP $22.93 -0.46 1.97% 18,303,539 NYSE
BAC $12.35 +0.12 0.98% 332,663,907 NYSE
BA $41.32 -2.55 5.81% 21,214,620 NYSE
CAT $33.4 +0.40 1.21% 10,259,820 NYSE
CVX $65.72 -0.24 0.36% 11,567,424 NYSE
CSCO $18.61 +0.04 0.22% 46,814,335 NASDAQ-GS
KO $47.5 -0.30 -0.63% 8,824,686 NYSE
DIS $22.9 +0.02 +0.09% 9,933,083 NYSE
DD $24.83 +0.43 +1.76% 8,246,601 NYSE
XOM $68.45 -0.50 -0.73% 20,671,562 NYSE
GE $11.7 +0.10 0.86% 82,112,867 NYSE
HPQ $37.22 -0.14 0.37% 17,268,361 NYSE
HD $22.68 -0.20 0.87% 14,425,880 NYSE
INTC $16.1 +0.29 1.83% 52,740,243 NASDAQ-GS
IBM $104.15 -0.29 0.28% 6,340,234 NYSE
JPM $33.46 -0.11 0.33% 50,224,203 NYSE
JNJ $55.46 +0.45 0.82% 12,341,435 NYSE
KFT $25.74 +0.11 0.43% 10,893,944 NYSE
MCD $56.3 -0.46 0.81% 7,231,551 NYSE
MRK $25.45 +0.34 1.35% 15,133,253 NYSE
MSFT $23.47 +0.13 0.56% 53,825,247 NASDAQ-GS
PFE $14.72 -0.01 0.07% 38,064,646 NYSE
PG $50.55 unch unch 12,304,838 NYSE
MMM $57.48 + 0.42 0.74% 4,412,059 NYSE
TRV $40.76 -0.24 0.59% 4,478,536 NYSE
UTX $50.81 -1.03 1.99% 6,442,172 NYSE
VZ $30.8 +0.28 0.92% 14,173,235 NYSE
WMT $48.51 +0.16 0.33% 16,605,456 NYSE
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
Wednesday, June 24, 2009
Dow Down 23.05 to close @ 8299.86 - 0.28%
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Wed. at 8299.86 down 23.05 or down 0.28. Of the Dow 15 gained value and 14 lost and PG Procter & Gamble was unchanged.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Wedesday's Dow numerator was 1098.23 down 3.05 from Tuesday's Dow numerator which was 1101.28. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 3.05 in the Dow numerator by the divisor you get 23.05, the decrease in Wednesday's Dow.
The average closing price of Wednesday's Dow Jones was $36.61 down .10 from Tuesday's average closing price of $36.71. The median closing price of Wednesday's Dow Jones was $33.43 up $1.67 from Tuesday's median closing price of $31.76.
The highest closing price Tuesday again was IBM $104.15 down 0.29 - 0.28% vol:6,340,234 NYSE and the lowest closing price Wednesday again was AA Alcoa $10.21 up 0.21 + 2.1% vol: 39,065,070 NYSE.
The lowest volume Tuesday was MMM 3M $57.48 + 0.42 0.74% vol: 4,412,059 NYSE and the highest volume was BAC Bank of Am $12.35 + 0.12 0.98% vol: 332,663,907 NYSE.
If Wednesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $300 ($110,130 - $109,830).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.65 -0.01 0.04% 27,003,610 NYSE
AA $10.21 +0.21 2.1% 39,065,070 NYSE
AXP $22.93 -0.46 1.97% 18,303,539 NYSE
BAC $12.35 +0.12 0.98% 332,663,907 NYSE
BA $41.32 -2.55 5.81% 21,214,620 NYSE
CAT $33.4 +0.40 1.21% 10,259,820 NYSE
CVX $65.72 -0.24 0.36% 11,567,424 NYSE
CSCO $18.61 +0.04 0.22% 46,814,335 NASDAQ-GS
KO $47.5 -0.30 -0.63% 8,824,686 NYSE
DIS $22.9 +0.02 +0.09% 9,933,083 NYSE
DD $24.83 +0.43 +1.76% 8,246,601 NYSE
XOM $68.45 -0.50 -0.73% 20,671,562 NYSE
GE $11.7 +0.10 0.86% 82,112,867 NYSE
HPQ $37.22 -0.14 0.37% 17,268,361 NYSE
HD $22.68 -0.20 0.87% 14,425,880 NYSE
INTC $16.1 +0.29 1.83% 52,740,243 NASDAQ-GS
IBM $104.15 -0.29 0.28% 6,340,234 NYSE
JPM $33.46 -0.11 0.33% 50,224,203 NYSE
JNJ $55.46 +0.45 0.82% 12,341,435 NYSE
KFT $25.74 +0.11 0.43% 10,893,944 NYSE
MCD $56.3 -0.46 0.81% 7,231,551 NYSE
MRK $25.45 +0.34 1.35% 15,133,253 NYSE
MSFT $23.47 +0.13 0.56% 53,825,247 NASDAQ-GS
PFE $14.72 -0.01 0.07% 38,064,646 NYSE
PG $50.55 unch unch 12,304,838 NYSE
MMM $57.48 + 0.42 0.74% 4,412,059 NYSE
TRV $40.76 -0.24 0.59% 4,478,536 NYSE
UTX $50.81 -1.03 1.99% 6,442,172 NYSE
VZ $30.8 +0.28 0.92% 14,173,235 NYSE
WMT $48.51 +0.16 0.33% 16,605,456 NYSE
A read of Wed. 6/24/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
BA Boeing has again delayed the first test flight of its long-awaited 787 jetliner, according to WSJ @ A1, lead story, also @ WSJ pB3, Fin Times @p 21 (with another story @ FT p26), NYTimes @ pB3, USA Today @p1B and AJC @ pA11. Problems arose around the area of the plane where the wings join the fuselage that requires reinforcement. WSJ @ pA6 has a related story focusing on problems with using carbon-fiber high tech composite parts in plane. BA is also mentioned @ WSJ pB5 story about Airbus delivering its first plane assembled outside Europe to its Chinese owner as part of Airbus' plans to fend off rival BA in expanding markets. BA is also in a story @ WSJ pC14 that says Boeing's problems with the 787 caused a drop of 6.5% or $2.2 billion in BA's value. NYTimes @ pB8 blames this news about BA for its drop in stock price yesterday.
Intc Intel is the subject of a story @ NYTimes pB7, FT Times @p17, Investor's Bus. Daily @ pA2 (and a separate story @ IBD pA5.), USA Today @pB1 and also @ WSJ pB1 entitled "Intel Makes Another Run at Phones with Nokia" that reports that INTC has tried for years to get its chips into cellphones without much success, but a new deal with Nokia Corp. could help it crack the market. In a story next to that one about Oracle's 7.2% decline in net revenues causing their first sales drop since '02,the story cites CSCO Cisco and INTC Intel's comments in April and May that orders were leveling off as indications that the worst of the recession might be over.
WMT Wal-Mart is mentioned @ WSJ pB3 as causing Office Depot such competitive problems that Office Depot needed a $350 million cash investion from private equity firm BC partners.
Dis Walt Disney's 80% owned ESPN beat Setanta for the UK rights to air English Premier League soccer games and that caused Setanta Sports Holdings Ltd. to place its UK unit in administration (like bankruptcy) according to a story @ WSJ pB7. This information is also at p16 of Fin. Times.
BAC Bank of America's internal CEO succession process is explored in a story @ WSJ pC1 and on the same page in a story about yesterday's Dow BAC Bank of Am is mentioned as rebounding along with JPM JPMorgan Chase more than 2% in yesterday's Dow and the same info is given in "Large Stock Focus" @ WSJ p C5.
"Options Report" @ WSJ pC5 says AXP American Ex was the target of bearish positions yesterday known as butterflies and there were also bearish maneuvers in CSCO Cisco.
WSJ @pC14 has a story, "Hot Plastic Could Melt at AmEx" saying that investors are paying too much for AXP noting that JPM JPMorgan is trading at a p/e of 11.9 while AXP's p/e is 16.9.
Inv. Bus. Daily IBD @ pA5 has a story about Google controlling the search engine market that says MSFT Microsoft has 10% of that market. A related story about MSFT is next to the aforementioned story.
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
The Dow closed Wed. at 8299.86 down 23.05 or down 0.28. Of the Dow 15 gained value and 14 lost and PG Procter & Gamble was unchanged.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Wedesday's Dow numerator was 1098.23 down 3.05 from Tuesday's Dow numerator which was 1101.28. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 3.05 in the Dow numerator by the divisor you get 23.05, the decrease in Wednesday's Dow.
The average closing price of Wednesday's Dow Jones was $36.61 down .10 from Tuesday's average closing price of $36.71. The median closing price of Wednesday's Dow Jones was $33.43 up $1.67 from Tuesday's median closing price of $31.76.
The highest closing price Tuesday again was IBM $104.15 down 0.29 - 0.28% vol:6,340,234 NYSE and the lowest closing price Wednesday again was AA Alcoa $10.21 up 0.21 + 2.1% vol: 39,065,070 NYSE.
The lowest volume Tuesday was MMM 3M $57.48 + 0.42 0.74% vol: 4,412,059 NYSE and the highest volume was BAC Bank of Am $12.35 + 0.12 0.98% vol: 332,663,907 NYSE.
If Wednesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $300 ($110,130 - $109,830).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.65 -0.01 0.04% 27,003,610 NYSE
AA $10.21 +0.21 2.1% 39,065,070 NYSE
AXP $22.93 -0.46 1.97% 18,303,539 NYSE
BAC $12.35 +0.12 0.98% 332,663,907 NYSE
BA $41.32 -2.55 5.81% 21,214,620 NYSE
CAT $33.4 +0.40 1.21% 10,259,820 NYSE
CVX $65.72 -0.24 0.36% 11,567,424 NYSE
CSCO $18.61 +0.04 0.22% 46,814,335 NASDAQ-GS
KO $47.5 -0.30 -0.63% 8,824,686 NYSE
DIS $22.9 +0.02 +0.09% 9,933,083 NYSE
DD $24.83 +0.43 +1.76% 8,246,601 NYSE
XOM $68.45 -0.50 -0.73% 20,671,562 NYSE
GE $11.7 +0.10 0.86% 82,112,867 NYSE
HPQ $37.22 -0.14 0.37% 17,268,361 NYSE
HD $22.68 -0.20 0.87% 14,425,880 NYSE
INTC $16.1 +0.29 1.83% 52,740,243 NASDAQ-GS
IBM $104.15 -0.29 0.28% 6,340,234 NYSE
JPM $33.46 -0.11 0.33% 50,224,203 NYSE
JNJ $55.46 +0.45 0.82% 12,341,435 NYSE
KFT $25.74 +0.11 0.43% 10,893,944 NYSE
MCD $56.3 -0.46 0.81% 7,231,551 NYSE
MRK $25.45 +0.34 1.35% 15,133,253 NYSE
MSFT $23.47 +0.13 0.56% 53,825,247 NASDAQ-GS
PFE $14.72 -0.01 0.07% 38,064,646 NYSE
PG $50.55 unch unch 12,304,838 NYSE
MMM $57.48 + 0.42 0.74% 4,412,059 NYSE
TRV $40.76 -0.24 0.59% 4,478,536 NYSE
UTX $50.81 -1.03 1.99% 6,442,172 NYSE
VZ $30.8 +0.28 0.92% 14,173,235 NYSE
WMT $48.51 +0.16 0.33% 16,605,456 NYSE
A read of Wed. 6/24/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
BA Boeing has again delayed the first test flight of its long-awaited 787 jetliner, according to WSJ @ A1, lead story, also @ WSJ pB3, Fin Times @p 21 (with another story @ FT p26), NYTimes @ pB3, USA Today @p1B and AJC @ pA11. Problems arose around the area of the plane where the wings join the fuselage that requires reinforcement. WSJ @ pA6 has a related story focusing on problems with using carbon-fiber high tech composite parts in plane. BA is also mentioned @ WSJ pB5 story about Airbus delivering its first plane assembled outside Europe to its Chinese owner as part of Airbus' plans to fend off rival BA in expanding markets. BA is also in a story @ WSJ pC14 that says Boeing's problems with the 787 caused a drop of 6.5% or $2.2 billion in BA's value. NYTimes @ pB8 blames this news about BA for its drop in stock price yesterday.
Intc Intel is the subject of a story @ NYTimes pB7, FT Times @p17, Investor's Bus. Daily @ pA2 (and a separate story @ IBD pA5.), USA Today @pB1 and also @ WSJ pB1 entitled "Intel Makes Another Run at Phones with Nokia" that reports that INTC has tried for years to get its chips into cellphones without much success, but a new deal with Nokia Corp. could help it crack the market. In a story next to that one about Oracle's 7.2% decline in net revenues causing their first sales drop since '02,the story cites CSCO Cisco and INTC Intel's comments in April and May that orders were leveling off as indications that the worst of the recession might be over.
WMT Wal-Mart is mentioned @ WSJ pB3 as causing Office Depot such competitive problems that Office Depot needed a $350 million cash investion from private equity firm BC partners.
Dis Walt Disney's 80% owned ESPN beat Setanta for the UK rights to air English Premier League soccer games and that caused Setanta Sports Holdings Ltd. to place its UK unit in administration (like bankruptcy) according to a story @ WSJ pB7. This information is also at p16 of Fin. Times.
BAC Bank of America's internal CEO succession process is explored in a story @ WSJ pC1 and on the same page in a story about yesterday's Dow BAC Bank of Am is mentioned as rebounding along with JPM JPMorgan Chase more than 2% in yesterday's Dow and the same info is given in "Large Stock Focus" @ WSJ p C5.
"Options Report" @ WSJ pC5 says AXP American Ex was the target of bearish positions yesterday known as butterflies and there were also bearish maneuvers in CSCO Cisco.
WSJ @pC14 has a story, "Hot Plastic Could Melt at AmEx" saying that investors are paying too much for AXP noting that JPM JPMorgan is trading at a p/e of 11.9 while AXP's p/e is 16.9.
Inv. Bus. Daily IBD @ pA5 has a story about Google controlling the search engine market that says MSFT Microsoft has 10% of that market. A related story about MSFT is next to the aforementioned story.
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
6/24 Wed a.m BA Boeing Halts 787 Test Flight
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Tues. at 8322.91 down 16.1 or down 0.19%. Of the Dow 15 gained value and 15 lost.
A read of Wed. 6/24/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
BA Boeing has again delayted the first test flight of its long-awaited 787 jetliner, according to WSJ @ A1, lead story, also @ WSJ pB3, Fin Times @p 21 (with another story @ FT p26), NYTimes @ pB3, USA Today @p1B and AJC @ pA11. Problems arose around the area of the plane where the wings join the fuselage that requires reinforcement. WSJ @ pA6 has a related story focusing on problems with using carbon-fiber high tech composite parts in plane. BA is also mentioned @ WSJ pB5 story about Airbus delivering its first plane assembled outside Europe to its Chinese owner as part of Airbus' plans to fend off rival BA in expanding markets. BA is also in a story @ WSJ pC14 that says Boeing's problems with the 787 caused a drop of 6.5% or $2.2 billion in BA's value. NYTimes @ pB8 blames this news about BA for its drop in stock price yesterday.
Intc Intel is the subject of a story @ NYTimes pB7, FT Times @p17, Investor's Bus. Daily @ pA2 (and a separate story @ IBD pA5.), USA Today @pB1 and also @ WSJ pB1 entitled "Intel Makes Another Run at Phones with Nokia" that reports that INTC has tried for years to get its chips into cellphones without much success, but a new deal with Nokia Corp. could help it crack the market. In a story next to that one about Oracle's 7.2% decline in net revenues causing their first sales drop since '02,the story cites CSCO Cisco and INTC Intel's comments in April and May that orders were leveling off as indications that the worst of the recession might be over.
WMT Wal-Mart is mentioned @ WSJ pB3 as causing Office Depot such competitive problems that Office Depot needed a $350 million cash investion from private equity firm BC partners.
Dis Walt Disney's 80% owned ESPN beat Setanta for the UK rights to air English Premier League soccer games and that caused Setanta Sports Holdings Ltd. to place its UK unit in administration (like bankruptcy) according to a story @ WSJ pB7. This information is also at p16 of Fin. Times.
BAC Bank of America's internal CEO succession process is explored in a story @ WSJ pC1 and on the same page in a story about yesterday's Dow BAC Bank of Am is mentioned as rebounding along with JPM JPMorgan Chase more than 2% in yesterday's Dow and the same info is given in "Large Stock Focus" @ WSJ p C5.
"Options Report" @ WSJ pC5 says AXP American Ex was the target of bearish positions yesterday known as butterflies and there were also bearish maneuvers in CSCO Cisco.
WSJ @pC14 has a story, "Hot Plastic Could Melt at AmEx" saying that investors are paying too much for AXP noting that JPM JPMorgan is trading at a p/e of 11.9 while AXP's p/e is 16.9.
Inv. Bus. Daily IBD @ pA5 has a story about Google controlling the search engine market that says MSFT Microsoft has 10% of that market. A related story about MSFT is next to the aforementioned story.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Tuesday's Dow numerator was 1101.28 down 2.13 from Monday's Dow numerator which was 1103.41. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 2.13 in the Dow numerator by the divisor you get 16.1, the decrease in Tuesday's Dow.
The average closing price of Tuesday's Dow Jones was 36.71 down .06 from Monday's average closing price of $37.77. The median closing price of Tuesday's Dow Jones is $31.76.
The highest closing price Tuesday again was IBM $104.44 dow 0.08 down 0.08% vol: 5,072,000 NYSE and the lowest closing price Tuesday again was AA Alcoa $10 down 0.02 down 0.2% vol: 46,577,643 NYSE.
The lowest volume Tuesday was MMM 3 M $57.06 down 0.41 down 0.71% vol: 4,120,292 NYSE and the highest volume was BAC Bank of Am $12.23 up 0.29 up 2.43% Vol:356,412,151 NYSE.
If Tuesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $170 ($110,300 - $110,130).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.66 +0.51 2.11% 39,550,911 NYSE
AA $10 - 0.02 0.2% 46,577,643 NYSE
AXP $23.39 +0.16 0.69% 24,232,208 NYSE
BAC $12.23 +0.29 2.43% 356,412,151 NYSE
BA $43.87 -3.03 6.46% 27,232,209 NYSE
CAT $33 +0.64 1.98% 10,885,971 NYSE
CVX $65.96 +0.20 0.3% 11,687,224 NYSE
CSCO $18.57 +0.16 0.87% 42,489,231 NASDAQ-GS
KO $47.8 -0.19 0.4% 9,238,260 NYSE
DIS $22.88 +0.22 0.97% 8,935,987 NYSE
DD $24.4 +0.30 1.24% 7,279,867 NYSE
XOM $68.95 +0.11 0.16% 23,349,172 NYSE
GE $11.6 +0.08 0.69% 85,470,044 NYSE
HPQ $37.36 -0.38 1.01% 12,464,337 NYSE
HD $22.88 -0.37 1.59% 15,061,161 NYSE
INTC $15.81 +0.13 0.83% 70,421,789 NASDAQ-GS
IBM $104.44 -0.08 0.08% 5,072,000 NYSE
JPM $33.57 +0.70 2.13% 58,018,651 NYSE
JNJ $55.01 -0.48 0.87% 12,163,501 NYSE
KFT $25.63 +0.38 1.5% 11,192,843 NYSE
MCD $56.76 -0.44 0.77% 7,035,104 NYSE
MRK $25.11 -0.07 0.28% 13,974,592 NYSE
MSFT $23.34 +0.06 0.26% 56,234,583 NASDAQ-GS
PFE $14.73 -0.06 0.41% 47,585,065 NYSE
PG $50.55 -0.01 0.02% 10,435,580 NYSE
MMM $57.06 -0.41 0.71% 4,120,292 NYSE
TRV $41 -0.06 0.15% 4,464,160 NYSE
UTX $51.84 -0.74 1.41% 5,417,184 NYSE
VZ $30.52 +0.50 1.67% 15,535,858 NYSE
WMT $48.35 -0.24 0.49% 16,002,430
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
The Dow closed Tues. at 8322.91 down 16.1 or down 0.19%. Of the Dow 15 gained value and 15 lost.
A read of Wed. 6/24/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
BA Boeing has again delayted the first test flight of its long-awaited 787 jetliner, according to WSJ @ A1, lead story, also @ WSJ pB3, Fin Times @p 21 (with another story @ FT p26), NYTimes @ pB3, USA Today @p1B and AJC @ pA11. Problems arose around the area of the plane where the wings join the fuselage that requires reinforcement. WSJ @ pA6 has a related story focusing on problems with using carbon-fiber high tech composite parts in plane. BA is also mentioned @ WSJ pB5 story about Airbus delivering its first plane assembled outside Europe to its Chinese owner as part of Airbus' plans to fend off rival BA in expanding markets. BA is also in a story @ WSJ pC14 that says Boeing's problems with the 787 caused a drop of 6.5% or $2.2 billion in BA's value. NYTimes @ pB8 blames this news about BA for its drop in stock price yesterday.
Intc Intel is the subject of a story @ NYTimes pB7, FT Times @p17, Investor's Bus. Daily @ pA2 (and a separate story @ IBD pA5.), USA Today @pB1 and also @ WSJ pB1 entitled "Intel Makes Another Run at Phones with Nokia" that reports that INTC has tried for years to get its chips into cellphones without much success, but a new deal with Nokia Corp. could help it crack the market. In a story next to that one about Oracle's 7.2% decline in net revenues causing their first sales drop since '02,the story cites CSCO Cisco and INTC Intel's comments in April and May that orders were leveling off as indications that the worst of the recession might be over.
WMT Wal-Mart is mentioned @ WSJ pB3 as causing Office Depot such competitive problems that Office Depot needed a $350 million cash investion from private equity firm BC partners.
Dis Walt Disney's 80% owned ESPN beat Setanta for the UK rights to air English Premier League soccer games and that caused Setanta Sports Holdings Ltd. to place its UK unit in administration (like bankruptcy) according to a story @ WSJ pB7. This information is also at p16 of Fin. Times.
BAC Bank of America's internal CEO succession process is explored in a story @ WSJ pC1 and on the same page in a story about yesterday's Dow BAC Bank of Am is mentioned as rebounding along with JPM JPMorgan Chase more than 2% in yesterday's Dow and the same info is given in "Large Stock Focus" @ WSJ p C5.
"Options Report" @ WSJ pC5 says AXP American Ex was the target of bearish positions yesterday known as butterflies and there were also bearish maneuvers in CSCO Cisco.
WSJ @pC14 has a story, "Hot Plastic Could Melt at AmEx" saying that investors are paying too much for AXP noting that JPM JPMorgan is trading at a p/e of 11.9 while AXP's p/e is 16.9.
Inv. Bus. Daily IBD @ pA5 has a story about Google controlling the search engine market that says MSFT Microsoft has 10% of that market. A related story about MSFT is next to the aforementioned story.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Tuesday's Dow numerator was 1101.28 down 2.13 from Monday's Dow numerator which was 1103.41. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 2.13 in the Dow numerator by the divisor you get 16.1, the decrease in Tuesday's Dow.
The average closing price of Tuesday's Dow Jones was 36.71 down .06 from Monday's average closing price of $37.77. The median closing price of Tuesday's Dow Jones is $31.76.
The highest closing price Tuesday again was IBM $104.44 dow 0.08 down 0.08% vol: 5,072,000 NYSE and the lowest closing price Tuesday again was AA Alcoa $10 down 0.02 down 0.2% vol: 46,577,643 NYSE.
The lowest volume Tuesday was MMM 3 M $57.06 down 0.41 down 0.71% vol: 4,120,292 NYSE and the highest volume was BAC Bank of Am $12.23 up 0.29 up 2.43% Vol:356,412,151 NYSE.
If Tuesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $170 ($110,300 - $110,130).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.66 +0.51 2.11% 39,550,911 NYSE
AA $10 - 0.02 0.2% 46,577,643 NYSE
AXP $23.39 +0.16 0.69% 24,232,208 NYSE
BAC $12.23 +0.29 2.43% 356,412,151 NYSE
BA $43.87 -3.03 6.46% 27,232,209 NYSE
CAT $33 +0.64 1.98% 10,885,971 NYSE
CVX $65.96 +0.20 0.3% 11,687,224 NYSE
CSCO $18.57 +0.16 0.87% 42,489,231 NASDAQ-GS
KO $47.8 -0.19 0.4% 9,238,260 NYSE
DIS $22.88 +0.22 0.97% 8,935,987 NYSE
DD $24.4 +0.30 1.24% 7,279,867 NYSE
XOM $68.95 +0.11 0.16% 23,349,172 NYSE
GE $11.6 +0.08 0.69% 85,470,044 NYSE
HPQ $37.36 -0.38 1.01% 12,464,337 NYSE
HD $22.88 -0.37 1.59% 15,061,161 NYSE
INTC $15.81 +0.13 0.83% 70,421,789 NASDAQ-GS
IBM $104.44 -0.08 0.08% 5,072,000 NYSE
JPM $33.57 +0.70 2.13% 58,018,651 NYSE
JNJ $55.01 -0.48 0.87% 12,163,501 NYSE
KFT $25.63 +0.38 1.5% 11,192,843 NYSE
MCD $56.76 -0.44 0.77% 7,035,104 NYSE
MRK $25.11 -0.07 0.28% 13,974,592 NYSE
MSFT $23.34 +0.06 0.26% 56,234,583 NASDAQ-GS
PFE $14.73 -0.06 0.41% 47,585,065 NYSE
PG $50.55 -0.01 0.02% 10,435,580 NYSE
MMM $57.06 -0.41 0.71% 4,120,292 NYSE
TRV $41 -0.06 0.15% 4,464,160 NYSE
UTX $51.84 -0.74 1.41% 5,417,184 NYSE
VZ $30.52 +0.50 1.67% 15,535,858 NYSE
WMT $48.35 -0.24 0.49% 16,002,430
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
Tuesday, June 23, 2009
6/23 Tues pm Dow slips 16.1 to 8322.91 down 0.19%
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Tues. at 8322.91 down 16.1 or down 0.19%. Of the Dow 15 gained value and 15 lost.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Tuesday's Dow numerator was 1101.28 down 2.13 from Monday's Dow numerator which was 1103.41. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 2.13 in the Dow numerator by the divisor you get 16.1, the decrease in Tuesday's Dow.
The average closing price of Tuesday's Dow Jones was 36.71 down .06 from Monday's average closing price of $37.77. The median closing price of Tuesday's Dow Jones is $31.76.
The highest closing price Tuesday again was IBM $104.44 dow 0.08 down 0.08% vol: 5,072,000 NYSE and the lowest closing price Tuesday again was AA Alcoa $10 down 0.02 down 0.2% vol: 46,577,643 NYSE.
The lowest volume Tuesday was MMM 3 M $57.06 down 0.41 down 0.71% vol: 4,120,292 NYSE and the highest volume was BAC Bank of Am $12.23 up 0.29 up 2.43% Vol:356,412,151 NYSE.
If Tuesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $170 ($110,300 - $110,130).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.66 +0.51 2.11% 39,550,911 NYSE
AA $10 - 0.02 0.2% 46,577,643 NYSE
AXP $23.39 +0.16 0.69% 24,232,208 NYSE
BAC $12.23 +0.29 2.43% 356,412,151 NYSE
BA $43.87 -3.03 6.46% 27,232,209 NYSE
CAT $33 +0.64 1.98% 10,885,971 NYSE
CVX $65.96 +0.20 0.3% 11,687,224 NYSE
CSCO $18.57 +0.16 0.87% 42,489,231 NASDAQ-GS
KO $47.8 -0.19 0.4% 9,238,260 NYSE
DIS $22.88 +0.22 0.97% 8,935,987 NYSE
DD $24.4 +0.30 1.24% 7,279,867 NYSE
XOM $68.95 +0.11 0.16% 23,349,172 NYSE
GE $11.6 +0.08 0.69% 85,470,044 NYSE
HPQ $37.36 -0.38 1.01% 12,464,337 NYSE
HD $22.88 -0.37 1.59% 15,061,161 NYSE
INTC $15.81 +0.13 0.83% 70,421,789 NASDAQ-GS
IBM $104.44 -0.08 0.08% 5,072,000 NYSE
JPM $33.57 +0.70 2.13% 58,018,651 NYSE
JNJ $55.01 -0.48 0.87% 12,163,501 NYSE
KFT $25.63 +0.38 1.5% 11,192,843 NYSE
MCD $56.76 -0.44 0.77% 7,035,104 NYSE
MRK $25.11 -0.07 0.28% 13,974,592 NYSE
MSFT $23.34 +0.06 0.26% 56,234,583 NASDAQ-GS
PFE $14.73 -0.06 0.41% 47,585,065 NYSE
PG $50.55 -0.01 0.02% 10,435,580 NYSE
MMM $57.06 -0.41 0.71% 4,120,292 NYSE
TRV $41 -0.06 0.15% 4,464,160 NYSE
UTX $51.84 -0.74 1.41% 5,417,184 NYSE
VZ $30.52 +0.50 1.67% 15,535,858 NYSE
WMT $48.35 -0.24 0.49% 16,002,430
A read of Tues. 6/23/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @ pC6 says MRK Merck priced $4.25 billion of notes in four parts via active bookrunners that included BAC Bank of America, its sub Merrill Lynch and JPM JPM Morgan Chase. Also, @ pA8 of AJC it says MRK and Schering-Plough, which are in the process of a $41.1 billion buyout said Mon. the Fed. Trade Comm. has asked for more information about the deal which would be the world's second largest drugmaker by revenue. This is also the subject of a short piece in todays Investor's Bus. Daily IBD @pA2. JPM is also mentioned at pC6 of WSJ as selling a $1.5 billion credit loan backed deal dubbed CHAIT 09-A5 which was increased in size from the original $1 billion. JPM is mentioned as rebounding from the economic crisis at the same time three small cash-strapped banks have stopped paying the U.S. gov. TARP dividends.
Also JPM MorganChase along with BAC Bank of Am. CEO are critical of new Treasury Dept. proposed regulatory rules that would call for bigger bank reserves. A former vice chair of BAC, James Hance, jr. was named to Morgan Stanley's board, Hance is currently with Carlyle Group.
AJC @ pA8 said VZ Verizon will bring out an Android phone "in the near future" that will use Google's Android software which will lack a physical keyboard. This is also reported @pB5 of WSJ. FT Fin. Times @p14 has a story "NSN chief confident of securing Verizon contracts" that said Nokia Siemens Networks, the telecom equpment manufacturer, said it would win lucrative contracts with VZ Verizon, the leading US mobile phone operator.
WSJ @pC1 explaining why yesterday's Dow's drop was the biggest in 2 months said CVX Chevron was down 3.4% and XOM Exxonmobil was off 3.1% as oil futures tumbled 3.8% to $66.93 a barrell. WSJ @ pC5 in "Large Stock Focus" noted that AA Alcoa and BAC Bank of Am were among the leading decliners in yesterday's Dow drop. Same page has a chart on BAC noting it was the largest percentage-point loser in the Dow down 9.68% yesterday. WSJ @ C5 in "Good Bet in Market Pullback: Health-Care Shares" said Pfizer, unlike some other health care shares, hasn't moved above its 200 day moving average. NYT @pB7 also mentions BAC's yesterday's decline as well as JPM Morgan's 6.1% fall yesterday as it says that the Dow fell because "global forecast dims." FT @p22 also noted BAC fell 9.7% to 11.94 after two more board members left bringing the total to seven since April in a story that focused on the S&P 500 turning negative for the year as a result of yesterday's Dow decline. USA Today @p4B said yesterday's Dow decline was because "World Bank report hammers stocks" saying the Wrold Bank said it expected the global economy to shrink 2.9% this year - its prior forecast said the economy would contract only 1.7%. The story noted BAC's share decline caused the Financial Select Sector SPDR which tracks the financial industry to fall 5.8% yesterday. The story also noted XOM falling $2.21 to $68.84 due to a weaker than expected economy pushing the price of oil down.
WSJ @pB5 said a national consumer watchdog group has told WMT Wal-Mart it should stop running national tv ads that claim shoppers can save $700 a year by shopping its stores. The Nat'l Advertising Division of the Council for Better Business Bureaus said it was reponding to a complaint from a large supermarket chain. WMT said it is no longer running the ads. This is also reported at IBD Investor's Bus. Daily @pA4.
IBD @pA5 said Dis Walt Disney is among the game publishers that have made a big commitment to games for girls in a story entitled "Game Developers Gunning for Girl Power - Lucrative, Untapped Market".
IBD @pA6 has a story about a Chinese company Duoyuan Global Water Inc. making great strides in wastewater treatment and noted that it competes in all its market segments with GE.
IBD @pA12 charts 20 big cap companies and includes MSFT Microsoft and AXP American Express.
USA Today @p3B has a story about videoconferencing and says CSCO Cisco sells videoconference equpment and also is cited as an example that by using its own equipment it cut travel expenses in its most recent quarter from $750 million to $250million.
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Cateriller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
The Dow closed Tues. at 8322.91 down 16.1 or down 0.19%. Of the Dow 15 gained value and 15 lost.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Tuesday's Dow numerator was 1101.28 down 2.13 from Monday's Dow numerator which was 1103.41. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 2.13 in the Dow numerator by the divisor you get 16.1, the decrease in Tuesday's Dow.
The average closing price of Tuesday's Dow Jones was 36.71 down .06 from Monday's average closing price of $37.77. The median closing price of Tuesday's Dow Jones is $31.76.
The highest closing price Tuesday again was IBM $104.44 dow 0.08 down 0.08% vol: 5,072,000 NYSE and the lowest closing price Tuesday again was AA Alcoa $10 down 0.02 down 0.2% vol: 46,577,643 NYSE.
The lowest volume Tuesday was MMM 3 M $57.06 down 0.41 down 0.71% vol: 4,120,292 NYSE and the highest volume was BAC Bank of Am $12.23 up 0.29 up 2.43% Vol:356,412,151 NYSE.
If Tuesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $170 ($110,300 - $110,130).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.66 +0.51 2.11% 39,550,911 NYSE
AA $10 - 0.02 0.2% 46,577,643 NYSE
AXP $23.39 +0.16 0.69% 24,232,208 NYSE
BAC $12.23 +0.29 2.43% 356,412,151 NYSE
BA $43.87 -3.03 6.46% 27,232,209 NYSE
CAT $33 +0.64 1.98% 10,885,971 NYSE
CVX $65.96 +0.20 0.3% 11,687,224 NYSE
CSCO $18.57 +0.16 0.87% 42,489,231 NASDAQ-GS
KO $47.8 -0.19 0.4% 9,238,260 NYSE
DIS $22.88 +0.22 0.97% 8,935,987 NYSE
DD $24.4 +0.30 1.24% 7,279,867 NYSE
XOM $68.95 +0.11 0.16% 23,349,172 NYSE
GE $11.6 +0.08 0.69% 85,470,044 NYSE
HPQ $37.36 -0.38 1.01% 12,464,337 NYSE
HD $22.88 -0.37 1.59% 15,061,161 NYSE
INTC $15.81 +0.13 0.83% 70,421,789 NASDAQ-GS
IBM $104.44 -0.08 0.08% 5,072,000 NYSE
JPM $33.57 +0.70 2.13% 58,018,651 NYSE
JNJ $55.01 -0.48 0.87% 12,163,501 NYSE
KFT $25.63 +0.38 1.5% 11,192,843 NYSE
MCD $56.76 -0.44 0.77% 7,035,104 NYSE
MRK $25.11 -0.07 0.28% 13,974,592 NYSE
MSFT $23.34 +0.06 0.26% 56,234,583 NASDAQ-GS
PFE $14.73 -0.06 0.41% 47,585,065 NYSE
PG $50.55 -0.01 0.02% 10,435,580 NYSE
MMM $57.06 -0.41 0.71% 4,120,292 NYSE
TRV $41 -0.06 0.15% 4,464,160 NYSE
UTX $51.84 -0.74 1.41% 5,417,184 NYSE
VZ $30.52 +0.50 1.67% 15,535,858 NYSE
WMT $48.35 -0.24 0.49% 16,002,430
A read of Tues. 6/23/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @ pC6 says MRK Merck priced $4.25 billion of notes in four parts via active bookrunners that included BAC Bank of America, its sub Merrill Lynch and JPM JPM Morgan Chase. Also, @ pA8 of AJC it says MRK and Schering-Plough, which are in the process of a $41.1 billion buyout said Mon. the Fed. Trade Comm. has asked for more information about the deal which would be the world's second largest drugmaker by revenue. This is also the subject of a short piece in todays Investor's Bus. Daily IBD @pA2. JPM is also mentioned at pC6 of WSJ as selling a $1.5 billion credit loan backed deal dubbed CHAIT 09-A5 which was increased in size from the original $1 billion. JPM is mentioned as rebounding from the economic crisis at the same time three small cash-strapped banks have stopped paying the U.S. gov. TARP dividends.
Also JPM MorganChase along with BAC Bank of Am. CEO are critical of new Treasury Dept. proposed regulatory rules that would call for bigger bank reserves. A former vice chair of BAC, James Hance, jr. was named to Morgan Stanley's board, Hance is currently with Carlyle Group.
AJC @ pA8 said VZ Verizon will bring out an Android phone "in the near future" that will use Google's Android software which will lack a physical keyboard. This is also reported @pB5 of WSJ. FT Fin. Times @p14 has a story "NSN chief confident of securing Verizon contracts" that said Nokia Siemens Networks, the telecom equpment manufacturer, said it would win lucrative contracts with VZ Verizon, the leading US mobile phone operator.
WSJ @pC1 explaining why yesterday's Dow's drop was the biggest in 2 months said CVX Chevron was down 3.4% and XOM Exxonmobil was off 3.1% as oil futures tumbled 3.8% to $66.93 a barrell. WSJ @ pC5 in "Large Stock Focus" noted that AA Alcoa and BAC Bank of Am were among the leading decliners in yesterday's Dow drop. Same page has a chart on BAC noting it was the largest percentage-point loser in the Dow down 9.68% yesterday. WSJ @ C5 in "Good Bet in Market Pullback: Health-Care Shares" said Pfizer, unlike some other health care shares, hasn't moved above its 200 day moving average. NYT @pB7 also mentions BAC's yesterday's decline as well as JPM Morgan's 6.1% fall yesterday as it says that the Dow fell because "global forecast dims." FT @p22 also noted BAC fell 9.7% to 11.94 after two more board members left bringing the total to seven since April in a story that focused on the S&P 500 turning negative for the year as a result of yesterday's Dow decline. USA Today @p4B said yesterday's Dow decline was because "World Bank report hammers stocks" saying the Wrold Bank said it expected the global economy to shrink 2.9% this year - its prior forecast said the economy would contract only 1.7%. The story noted BAC's share decline caused the Financial Select Sector SPDR which tracks the financial industry to fall 5.8% yesterday. The story also noted XOM falling $2.21 to $68.84 due to a weaker than expected economy pushing the price of oil down.
WSJ @pB5 said a national consumer watchdog group has told WMT Wal-Mart it should stop running national tv ads that claim shoppers can save $700 a year by shopping its stores. The Nat'l Advertising Division of the Council for Better Business Bureaus said it was reponding to a complaint from a large supermarket chain. WMT said it is no longer running the ads. This is also reported at IBD Investor's Bus. Daily @pA4.
IBD @pA5 said Dis Walt Disney is among the game publishers that have made a big commitment to games for girls in a story entitled "Game Developers Gunning for Girl Power - Lucrative, Untapped Market".
IBD @pA6 has a story about a Chinese company Duoyuan Global Water Inc. making great strides in wastewater treatment and noted that it competes in all its market segments with GE.
IBD @pA12 charts 20 big cap companies and includes MSFT Microsoft and AXP American Express.
USA Today @p3B has a story about videoconferencing and says CSCO Cisco sells videoconference equpment and also is cited as an example that by using its own equipment it cut travel expenses in its most recent quarter from $750 million to $250million.
Here are the latest SEC filings as of 6/19/09 updated weekly other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed Comments
T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/16/09 24B2 Prospectus Prelim, filing for
leverage return notes, a pricing supp. and 8K announcing board resignations
BA Boeing 6/9/09 8K announcing election of David Calhoun
a director
CAT Cateriller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/2 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 5/22/09 8K
IBM 6/7/09 Proxy by Shareholde
JPM JPMorgan 6/8/09 Freewriting Prospectus re: Notes linked to
a JPM index
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/7/09 8K CEO Irene Rosenfeld was on a panel
discussion
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/17/09 Proxy re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 10Q
VZ Verizon Free Writing Prospectus for Direct
Investment Purchase shareholder prog.
WMT Wal-Mart 6/5/09 10Q
6/23 Tues am Mrk Merk prices Debt; Merger Scrutinzed
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Mon. at 8339.01 down 200.72 or down 2.35%. Of the Dow only 3 (T AT&T, VZ Verison and WMT Wal-Mart) gained value and 27 lost.
A read of Tues. 6/23/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @ pC6 says MRK Merck priced $4.25 billion of notes in four parts via active bookrunners that included BAC Bank of America, its sub Merrill Lynch and JPM JPM Morgan Chase. Also, @ pA8 of AJC it says MRK and Schering-Plough, which are in the process of a $41.1 billion buyout said Mon. the Fed. Trade Comm. has asked for more information about the deal which would be the world's second largest drugmaker by revenue. This is also the subject of a short piece in todays Investor's Bus. Daily IBD @pA2. JPM is also mentioned at pC6 of WSJ as selling a $1.5 billion credit loan backed deal dubbed CHAIT 09-A5 which was increased in size from the original $1 billion. JPM is mentioned as rebounding from the economic crisis at the same time three small cash-strapped banks have stopped paying the U.S. gov. TARP dividends.
Also JPM MorganChase along with BAC Bank of Am. CEO are critical of new Treasury Dept. proposed regulatory rules that would call for bigger bank reserves. A former vice chair of BAC, James Hance, jr. was named to Morgan Stanley's board, Hance is currently with Carlyle Group.
AJC @ pA8 said VZ Verizon will bring out an Android phone "in the near future" that will use Google's Android software which will lack a physical keyboard. This is also reported @pB5 of WSJ. FT Fin. Times @p14 has a story "NSN chief confident of securing Verizon contracts" that said Nokia Siemens Networks, the telecom equpment manufacturer, said it would win lucrative contracts with VZ Verizon, the leading US mobile phone operator.
WSJ @pC1 explaining why yesterday's Dow's drop was the biggest in 2 months said CVX Chevron was down 3.4% and XOM Exxonmobil was off 3.1% as oil futures tumbled 3.8% to $66.93 a barrell. WSJ @ pC5 in "Large Stock Focus" noted that AA Alcoa and BAC Bank of Am were among the leading decliners in yesterday's Dow drop. Same page has a chart on BAC noting it was the largest percentage-point loser in the Dow down 9.68% yesterday. WSJ @ C5 in "Good Bet in Market Pullback: Health-Care Shares" said Pfizer, unlike some other health care shares, hasn't moved above its 200 day moving average. NYT @pB7 also mentions BAC's yesterday's decline as well as JPM Morgan's 6.1% fall yesterday as it says that the Dow fell because "global forecast dims." FT @p22 also noted BAC fell 9.7% to 11.94 after two more board members left bringing the total to seven since April in a story that focused on the S&P 500 turning negative for the year as a result of yesterday's Dow decline. USA Today @p4B said yesterday's Dow decline was because "World Bank report hammers stocks" saying the Wrold Bank said it expected the global economy to shrink 2.9% this year - its prior forecast said the economy would contract only 1.7%. The story noted BAC's share decline caused the Financial Select Sector SPDR which tracks the financial industry to fall 5.8% yesterday. The story also noted XOM falling $2.21 to $68.84 due to a weaker than expected economy pushing the price of oil down.
WSJ @pB5 said a national consumer watchdog group has told WMT Wal-Mart it should stop running national tv ads that claim shoppers can save $700 a year by shopping its stores. The Nat'l Advertising Division of the Council for Better Business Bureaus said it was reponding to a complaint from a large supermarket chain. WMT said it is no longer running the ads. This is also reported at IBD Investor's Bus. Daily @pA4.
IBD @pA5 said Dis Walt Disney is among the game publishers that have made a big commitment to games for girls in a story entitled "Game Developers Gunning for Girl Power - Lucrative, Untapped Market".
IBD @pA6 has a story about a Chinese company Duoyuan Global Water Inc. making great strides in wastewater treatment and noted that it competes in all its market segments with GE.
IBD @pA12 charts 20 big cap companies and includes MSFT Microsoft and AXP American Express.
USA Today @p3B has a story about videoconferencing and says CSCO Cisco sells videoconference equpment and also is cited as an example that by using its own equipment it cut travel expenses in its most recent quarter from $750 million to $250million.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1103.41 down 26.56 from Friday's Dow numerator which was 1129.97. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 26.56 in the Dow numerator by the divisor you get 200.72, the decrease in Friday's Dow.
The average closing price of Monday's Dow Jones was 36.77 down .90 from Friday's average closing price of $37.67. The median closing price of Monday's Dow Jones is $27.64.
The highest closing price Monday again was IBM at $104.52 down 1.37 down 1.29% vol. of 7,047,908 NYSE and the lowest closing price Monday again was AA Alcoa at $10.02 down 0.98 down 8.91% vol: 44,275,375 NYSE.
The lowest volume Monday was BA Boeing $46.9 down 1.54 down 3.18% vol: 5,034,831 NYSE and the highest volume was BAC Bank of America $11.94 down 1.28 down 9.68% vol: 420,204,459 NYSE.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,710. ($113,010 - 110,300).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.15 +0.11 0.46% 37,282,619 NYSE
AA $10.02 -0.98 8.91% 44,275,375 NYSE
AXP $23.23 -1.41 5.72% 16,874,981 NYSE
BAC $11.94 -1.28 9.68% 420,204,459 NYSE
BA $46.9 -1.54 3.18% 5,034,831 NYSE
CAT $32.36 -1.29 3.83% 14,010,756 NYSE
CVX $65.76 -2.30 3.38% 15,926,918 NYSE
CSCO $18.41 -0.51 2.7% 44,985,071 NASDAQ-GS
KO $47.99 -0.82 1.68% 10,356,506 NYSE
DIS $22.66- 0.87 3.7% 11,952,450 NYSE
DD $24.1 -0.87 3.48% 8,991,919 NYSE
XOM $68.84 -2.21 3.11% 26,258,826 NYSE
GE $11.52 -0.58 4.79% 100,737,239 NYSE
HPQ $37.74 -0.61 1.59% 19,071,782 NYSE
HD $23.25 -0.27 1.15% 12,523,332 NYSE
INTC $15.68 -0.33 2.06% 66,718,261 NASDAQ-GS
IBM $104.52 -1.37 1.29% 7,047,908 NYSE
JPM $32.87 -2.13 6.09% 67,134,601 NYSE
JNJ $55.49 -0.60 1.07% 12,819,620 NYSE
KFT $25.25 -0.16 0.63% 9,951,364 NYSE
MCD $57.2 -0.97 1.67% 7,440,474 NYSE
MRK $25.18 -0.73 2.82% 18,302,409 NYSE
MSFT $23.28 -0.79 3.28% 69,763,909 NASDAQ-GS
PFE $14.79 -0.21 1.4% 57,083,663 NYSE
PG $50.56 -0.08 0.16% 12,541,586 NYSE
MMM $57.47 1.90 3.2% 5,110,107 NYSE
TRV $41.06 -1.02 2.42% 5,672,756 NYSE
UTX $52.58 -1.62 2.99% 5,475,590 NYSE
VZ $30.02 +0.36 1.21% 21,392,998 NYSE
WMT $48.59 +0.42 0.87% 19,595,394 NYSE
The Dow closed Mon. at 8339.01 down 200.72 or down 2.35%. Of the Dow only 3 (T AT&T, VZ Verison and WMT Wal-Mart) gained value and 27 lost.
A read of Tues. 6/23/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
WSJ @ pC6 says MRK Merck priced $4.25 billion of notes in four parts via active bookrunners that included BAC Bank of America, its sub Merrill Lynch and JPM JPM Morgan Chase. Also, @ pA8 of AJC it says MRK and Schering-Plough, which are in the process of a $41.1 billion buyout said Mon. the Fed. Trade Comm. has asked for more information about the deal which would be the world's second largest drugmaker by revenue. This is also the subject of a short piece in todays Investor's Bus. Daily IBD @pA2. JPM is also mentioned at pC6 of WSJ as selling a $1.5 billion credit loan backed deal dubbed CHAIT 09-A5 which was increased in size from the original $1 billion. JPM is mentioned as rebounding from the economic crisis at the same time three small cash-strapped banks have stopped paying the U.S. gov. TARP dividends.
Also JPM MorganChase along with BAC Bank of Am. CEO are critical of new Treasury Dept. proposed regulatory rules that would call for bigger bank reserves. A former vice chair of BAC, James Hance, jr. was named to Morgan Stanley's board, Hance is currently with Carlyle Group.
AJC @ pA8 said VZ Verizon will bring out an Android phone "in the near future" that will use Google's Android software which will lack a physical keyboard. This is also reported @pB5 of WSJ. FT Fin. Times @p14 has a story "NSN chief confident of securing Verizon contracts" that said Nokia Siemens Networks, the telecom equpment manufacturer, said it would win lucrative contracts with VZ Verizon, the leading US mobile phone operator.
WSJ @pC1 explaining why yesterday's Dow's drop was the biggest in 2 months said CVX Chevron was down 3.4% and XOM Exxonmobil was off 3.1% as oil futures tumbled 3.8% to $66.93 a barrell. WSJ @ pC5 in "Large Stock Focus" noted that AA Alcoa and BAC Bank of Am were among the leading decliners in yesterday's Dow drop. Same page has a chart on BAC noting it was the largest percentage-point loser in the Dow down 9.68% yesterday. WSJ @ C5 in "Good Bet in Market Pullback: Health-Care Shares" said Pfizer, unlike some other health care shares, hasn't moved above its 200 day moving average. NYT @pB7 also mentions BAC's yesterday's decline as well as JPM Morgan's 6.1% fall yesterday as it says that the Dow fell because "global forecast dims." FT @p22 also noted BAC fell 9.7% to 11.94 after two more board members left bringing the total to seven since April in a story that focused on the S&P 500 turning negative for the year as a result of yesterday's Dow decline. USA Today @p4B said yesterday's Dow decline was because "World Bank report hammers stocks" saying the Wrold Bank said it expected the global economy to shrink 2.9% this year - its prior forecast said the economy would contract only 1.7%. The story noted BAC's share decline caused the Financial Select Sector SPDR which tracks the financial industry to fall 5.8% yesterday. The story also noted XOM falling $2.21 to $68.84 due to a weaker than expected economy pushing the price of oil down.
WSJ @pB5 said a national consumer watchdog group has told WMT Wal-Mart it should stop running national tv ads that claim shoppers can save $700 a year by shopping its stores. The Nat'l Advertising Division of the Council for Better Business Bureaus said it was reponding to a complaint from a large supermarket chain. WMT said it is no longer running the ads. This is also reported at IBD Investor's Bus. Daily @pA4.
IBD @pA5 said Dis Walt Disney is among the game publishers that have made a big commitment to games for girls in a story entitled "Game Developers Gunning for Girl Power - Lucrative, Untapped Market".
IBD @pA6 has a story about a Chinese company Duoyuan Global Water Inc. making great strides in wastewater treatment and noted that it competes in all its market segments with GE.
IBD @pA12 charts 20 big cap companies and includes MSFT Microsoft and AXP American Express.
USA Today @p3B has a story about videoconferencing and says CSCO Cisco sells videoconference equpment and also is cited as an example that by using its own equipment it cut travel expenses in its most recent quarter from $750 million to $250million.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1103.41 down 26.56 from Friday's Dow numerator which was 1129.97. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 26.56 in the Dow numerator by the divisor you get 200.72, the decrease in Friday's Dow.
The average closing price of Monday's Dow Jones was 36.77 down .90 from Friday's average closing price of $37.67. The median closing price of Monday's Dow Jones is $27.64.
The highest closing price Monday again was IBM at $104.52 down 1.37 down 1.29% vol. of 7,047,908 NYSE and the lowest closing price Monday again was AA Alcoa at $10.02 down 0.98 down 8.91% vol: 44,275,375 NYSE.
The lowest volume Monday was BA Boeing $46.9 down 1.54 down 3.18% vol: 5,034,831 NYSE and the highest volume was BAC Bank of America $11.94 down 1.28 down 9.68% vol: 420,204,459 NYSE.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,710. ($113,010 - 110,300).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.15 +0.11 0.46% 37,282,619 NYSE
AA $10.02 -0.98 8.91% 44,275,375 NYSE
AXP $23.23 -1.41 5.72% 16,874,981 NYSE
BAC $11.94 -1.28 9.68% 420,204,459 NYSE
BA $46.9 -1.54 3.18% 5,034,831 NYSE
CAT $32.36 -1.29 3.83% 14,010,756 NYSE
CVX $65.76 -2.30 3.38% 15,926,918 NYSE
CSCO $18.41 -0.51 2.7% 44,985,071 NASDAQ-GS
KO $47.99 -0.82 1.68% 10,356,506 NYSE
DIS $22.66- 0.87 3.7% 11,952,450 NYSE
DD $24.1 -0.87 3.48% 8,991,919 NYSE
XOM $68.84 -2.21 3.11% 26,258,826 NYSE
GE $11.52 -0.58 4.79% 100,737,239 NYSE
HPQ $37.74 -0.61 1.59% 19,071,782 NYSE
HD $23.25 -0.27 1.15% 12,523,332 NYSE
INTC $15.68 -0.33 2.06% 66,718,261 NASDAQ-GS
IBM $104.52 -1.37 1.29% 7,047,908 NYSE
JPM $32.87 -2.13 6.09% 67,134,601 NYSE
JNJ $55.49 -0.60 1.07% 12,819,620 NYSE
KFT $25.25 -0.16 0.63% 9,951,364 NYSE
MCD $57.2 -0.97 1.67% 7,440,474 NYSE
MRK $25.18 -0.73 2.82% 18,302,409 NYSE
MSFT $23.28 -0.79 3.28% 69,763,909 NASDAQ-GS
PFE $14.79 -0.21 1.4% 57,083,663 NYSE
PG $50.56 -0.08 0.16% 12,541,586 NYSE
MMM $57.47 1.90 3.2% 5,110,107 NYSE
TRV $41.06 -1.02 2.42% 5,672,756 NYSE
UTX $52.58 -1.62 2.99% 5,475,590 NYSE
VZ $30.02 +0.36 1.21% 21,392,998 NYSE
WMT $48.59 +0.42 0.87% 19,595,394 NYSE
Monday, June 22, 2009
6/22 Mon pm Dow drops 200.72 to close @ 8339.01 down 2.35%
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
The Dow closed Mon. at 8339.01 down 200.72 or down 2.35%. Of the Dow only 3 (T AT&T, VZ Verison and WMT Wal-Mart) gained value and 27 lost.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1103.41 down 26.56 from Friday's Dow numerator which was 1129.97. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 26.56 in the Dow numerator by the divisor you get 200.72, the decrease in Friday's Dow.
The average closing price of Monday's Dow Jones was 36.77 down .90 from Friday's average closing price of $37.67. The median closing price of Monday's Dow Jones is $27.64.
The highest closing price Monday again was IBM at $104.52 down 1.37 down 1.29% vol. of 7,047,908 NYSE and the lowest closing price Monday again was AA Alcoa at $10.02 down 0.98 down 8.91% vol: 44,275,375 NYSE.
The lowest volume Monday was BA Boeing $46.9 down 1.54 down 3.18% vol: 5,034,831 NYSE and the highest volume was BAC Bank of America $11.94 down 1.28 down 9.68% vol: 420,204,459 NYSE.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,710. ($113,010 - 110,300).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.15 +0.11 0.46% 37,282,619 NYSE
AA $10.02 -0.98 8.91% 44,275,375 NYSE
AXP $23.23 -1.41 5.72% 16,874,981 NYSE
BAC $11.94 -1.28 9.68% 420,204,459 NYSE
BA $46.9 -1.54 3.18% 5,034,831 NYSE
CAT $32.36 -1.29 3.83% 14,010,756 NYSE
CVX $65.76 -2.30 3.38% 15,926,918 NYSE
CSCO $18.41 -0.51 2.7% 44,985,071 NASDAQ-GS
KO $47.99 -0.82 1.68% 10,356,506 NYSE
DIS $22.66- 0.87 3.7% 11,952,450 NYSE
DD $24.1 -0.87 3.48% 8,991,919 NYSE
XOM $68.84 -2.21 3.11% 26,258,826 NYSE
GE $11.52 -0.58 4.79% 100,737,239 NYSE
HPQ $37.74 -0.61 1.59% 19,071,782 NYSE
HD $23.25 -0.27 1.15% 12,523,332 NYSE
INTC $15.68 -0.33 2.06% 66,718,261 NASDAQ-GS
IBM $104.52 -1.37 1.29% 7,047,908 NYSE
JPM $32.87 -2.13 6.09% 67,134,601 NYSE
JNJ $55.49 -0.60 1.07% 12,819,620 NYSE
KFT $25.25 -0.16 0.63% 9,951,364 NYSE
MCD $57.2 -0.97 1.67% 7,440,474 NYSE
MRK $25.18 -0.73 2.82% 18,302,409 NYSE
MSFT $23.28 -0.79 3.28% 69,763,909 NASDAQ-GS
PFE $14.79 -0.21 1.4% 57,083,663 NYSE
PG $50.56 -0.08 0.16% 12,541,586 NYSE
MMM $57.47 1.90 3.2% 5,110,107 NYSE
TRV $41.06 -1.02 2.42% 5,672,756 NYSE
UTX $52.58 -1.62 2.99% 5,475,590 NYSE
VZ $30.02 +0.36 1.21% 21,392,998 NYSE
WMT $48.59 +0.42 0.87% 19,595,394 NYSE
A read of Mon. 6/22/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
Leading story at p1 of Fin. Times is that due to concerns over stability of the repo market, the Fed is considering dramatic changes including creating a utility to replace the Wall Street banks that handle repo transactions. JPMorgan is named as one of the banks that would be affected by these changes.
NYtimes has a story today about how an investor plans to sue JPM for allegedly mismanaging an investment account that held $1 billion and in the NYTimes Looking Ahead Column it says that Fed. Res. Chairman Ben. S. Bernanke on Thurs. will testify before the House Oversight and Reform Committee about BAC Bank of America's acquisition of Merrill Lynch.
WSJ @ pB1 has a story entitled, "Tech Giants Ramp Up Their Online Offerings" that details how the recession is forcing HP Hewlett-Packard, Oracle and SAP deeper into a low profit business that these companies have traditionally resisted - selling online software. It says that MSFT Microsoft and IBM have also moved into online software over the past year.
At WSJ pB1 there is a story about Siemens expecting to get $21 billion in new government contracts. The story notes that Siemens wants to challenge GE as a "green infrastructure giant."
At WSJ pB5 there is a story about GM holding its ad budget steady and states that last year GM was third in US advertising behind PG Procter & Gamble and VZ Verison.
At WSJ pC3 it is reported that a consortium is going to buy BAC Bank of America's First Republic Bank. On the same page is a story that boutiques are continuing to raid bigger rivals such as JPM JPMorgan and BAC Bank of America for talent.
At the Options Report at WSJ pC4 it said on Friday the bulls ralllied around technology giants Yahoo and INTC Intel.
At WSJ pC6 in an article about exuberance in the industrial sectors stocks recently are because big, diversified companies such as GE will benefit from increased gov. spending on transportation and energy infrastructure.
WSJ @ pR4 has a story about innovation and says that MMM 3M allows its scientists to spend 15% of their time on projects they dream up themselves.
FT @p13 has a story entitled, "Lehman creditors in fight to recover disputed collateral" which is a news analysis story that questions whether Lehman gave up too much to JPM JPMorgan Chase.
Investor's Business Daily IBD at pA2 says MSFT Microsoft climbed 2.4% on Friday after Goldman Sachs upgraded it to its "conviction buy" list saying improved cost controls, good sales drivers and sizable cash balances makes MSFT well positioned. Same page says JPM JPMorgan Chase said it expects to record a $1.1 billion charge in Q2 after returning $25 billion to US.
IBD @ pA9 has a story about big selling drugs going off patent resulting in drugmakers buying up generic mfgers. PFE Pfizer's cholesterol drug Lipitor as mentioned as the best-selling brand name drug in the world. The generic version is expected to reach the market in Nov. '11.
USA Today @ pB1 has a story entitled, "IBM, Google court smaller businesses" that tells how these two companies have stepped up efforts to nudge MSFT Microsoft aside and become tech suppliers of choice to small and medium size businesses.
As reported in my Blog yesterday, a read of Sun's 6/21 AJC, Sunday 6/21 NY Times, Barron 6/22/09, Securities Industry News 6/15, Investment News 6/15 -19, Institutional Investor June issue, CFO June issue, BusinessWeek Small Biz June/July issue, US News & World Report July issue and Newsweek 6/22 issue yielded the following stories about Dow Jones 30 component companies:
AJC has a favorable story about HD Home Depot, its 30 year history, and its future prospects.
BAR @ p21 talks about a competitor of JNJ Johnson & Johnson's Stryker, a specialist in orthopedic implants. JNJ is a big player in the $38 billlion orthpedic-implant market.
WMT is charted by BARs noting that it will be regulated as if it is a bank under the new financial regulations.
MSFT is discussed in an article at Bar p28 in an article with new Yahoo CEO Carol Bartz who is said to be getting Yahoo ready to be sold to MSFT. MSFT is said to be a good buy because it has a large product cycle, piles of cash and a below-market multiple acccord to Eric Savitz at BAR p 34.
Bary Motyl Chief Inv. Off. of Templeton Global Equity Group liked CSCO Cisco @ p41 which is also the subject of another story about how it is installing 3,000 high def screens in Dallas Cowboys new stadium with state of the art technology created by CSCO and T AT&T.
JNJ Johnson & Johnson is one of the rare health care companies that is cheap in a story entitled "J&J is a Bargain" @ BAR p39. Same page ranks XOM ExxonMobil as the top S&P 500 company for the first quarter for stock buybacks of its own shares.
Securities Industry News and Investment News both have lead stories about BlackRkock acquiring Barclays to result in the world's top money manger with $2.7 trillion under management. Merrill Lynch has a distribution system with BlackRock and Merrill's owner BAC Bank of Am. is part owner of BlackRock.
June issue of Inst'l Investor II has a story about Standard Chartered's acquisition to buy the Asian businss of JPM Morgan Cazenove. At p54, II has an article about the business of prime brokers and how JPMorgan is now a leader in this shrinking field even though a year ago it wasn't even in the business of traditional prime brokerage prior to its takeover of Bear. BusinessWeek Small Biz June/July issue has a story about how JPM JPMorgan Chase and other big banks are suspending credit lines to businesses. JPM is also discussed in the cover story of the 6/22 Newsweek at p 47 where it is stated that JPMorgan is among a group of big banks that are forming a new lobby to fight controls on over-the-counter derivatives.
June issue of CFO has a story about the controversy over the high pay of CEOs of public companies and AXP American Express is singled out as its CEO being in the top five of the 29 TARP bailout receivers who received the largest CEO compensation.
US News & World Report July issue in an article at p12 entitled "Digging for gold in a Recession" states that DD Dupont invested nylon during the Great Depression.
The Dow closed Mon. at 8339.01 down 200.72 or down 2.35%. Of the Dow only 3 (T AT&T, VZ Verison and WMT Wal-Mart) gained value and 27 lost.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.
Monday's Dow numerator was 1103.41 down 26.56 from Friday's Dow numerator which was 1129.97. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.
Now, if you divide the Dow decrease of 26.56 in the Dow numerator by the divisor you get 200.72, the decrease in Friday's Dow.
The average closing price of Monday's Dow Jones was 36.77 down .90 from Friday's average closing price of $37.67. The median closing price of Monday's Dow Jones is $27.64.
The highest closing price Monday again was IBM at $104.52 down 1.37 down 1.29% vol. of 7,047,908 NYSE and the lowest closing price Monday again was AA Alcoa at $10.02 down 0.98 down 8.91% vol: 44,275,375 NYSE.
The lowest volume Monday was BA Boeing $46.9 down 1.54 down 3.18% vol: 5,034,831 NYSE and the highest volume was BAC Bank of America $11.94 down 1.28 down 9.68% vol: 420,204,459 NYSE.
If Monday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,710. ($113,010 - 110,300).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $24.15 +0.11 0.46% 37,282,619 NYSE
AA $10.02 -0.98 8.91% 44,275,375 NYSE
AXP $23.23 -1.41 5.72% 16,874,981 NYSE
BAC $11.94 -1.28 9.68% 420,204,459 NYSE
BA $46.9 -1.54 3.18% 5,034,831 NYSE
CAT $32.36 -1.29 3.83% 14,010,756 NYSE
CVX $65.76 -2.30 3.38% 15,926,918 NYSE
CSCO $18.41 -0.51 2.7% 44,985,071 NASDAQ-GS
KO $47.99 -0.82 1.68% 10,356,506 NYSE
DIS $22.66- 0.87 3.7% 11,952,450 NYSE
DD $24.1 -0.87 3.48% 8,991,919 NYSE
XOM $68.84 -2.21 3.11% 26,258,826 NYSE
GE $11.52 -0.58 4.79% 100,737,239 NYSE
HPQ $37.74 -0.61 1.59% 19,071,782 NYSE
HD $23.25 -0.27 1.15% 12,523,332 NYSE
INTC $15.68 -0.33 2.06% 66,718,261 NASDAQ-GS
IBM $104.52 -1.37 1.29% 7,047,908 NYSE
JPM $32.87 -2.13 6.09% 67,134,601 NYSE
JNJ $55.49 -0.60 1.07% 12,819,620 NYSE
KFT $25.25 -0.16 0.63% 9,951,364 NYSE
MCD $57.2 -0.97 1.67% 7,440,474 NYSE
MRK $25.18 -0.73 2.82% 18,302,409 NYSE
MSFT $23.28 -0.79 3.28% 69,763,909 NASDAQ-GS
PFE $14.79 -0.21 1.4% 57,083,663 NYSE
PG $50.56 -0.08 0.16% 12,541,586 NYSE
MMM $57.47 1.90 3.2% 5,110,107 NYSE
TRV $41.06 -1.02 2.42% 5,672,756 NYSE
UTX $52.58 -1.62 2.99% 5,475,590 NYSE
VZ $30.02 +0.36 1.21% 21,392,998 NYSE
WMT $48.59 +0.42 0.87% 19,595,394 NYSE
A read of Mon. 6/22/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
Leading story at p1 of Fin. Times is that due to concerns over stability of the repo market, the Fed is considering dramatic changes including creating a utility to replace the Wall Street banks that handle repo transactions. JPMorgan is named as one of the banks that would be affected by these changes.
NYtimes has a story today about how an investor plans to sue JPM for allegedly mismanaging an investment account that held $1 billion and in the NYTimes Looking Ahead Column it says that Fed. Res. Chairman Ben. S. Bernanke on Thurs. will testify before the House Oversight and Reform Committee about BAC Bank of America's acquisition of Merrill Lynch.
WSJ @ pB1 has a story entitled, "Tech Giants Ramp Up Their Online Offerings" that details how the recession is forcing HP Hewlett-Packard, Oracle and SAP deeper into a low profit business that these companies have traditionally resisted - selling online software. It says that MSFT Microsoft and IBM have also moved into online software over the past year.
At WSJ pB1 there is a story about Siemens expecting to get $21 billion in new government contracts. The story notes that Siemens wants to challenge GE as a "green infrastructure giant."
At WSJ pB5 there is a story about GM holding its ad budget steady and states that last year GM was third in US advertising behind PG Procter & Gamble and VZ Verison.
At WSJ pC3 it is reported that a consortium is going to buy BAC Bank of America's First Republic Bank. On the same page is a story that boutiques are continuing to raid bigger rivals such as JPM JPMorgan and BAC Bank of America for talent.
At the Options Report at WSJ pC4 it said on Friday the bulls ralllied around technology giants Yahoo and INTC Intel.
At WSJ pC6 in an article about exuberance in the industrial sectors stocks recently are because big, diversified companies such as GE will benefit from increased gov. spending on transportation and energy infrastructure.
WSJ @ pR4 has a story about innovation and says that MMM 3M allows its scientists to spend 15% of their time on projects they dream up themselves.
FT @p13 has a story entitled, "Lehman creditors in fight to recover disputed collateral" which is a news analysis story that questions whether Lehman gave up too much to JPM JPMorgan Chase.
Investor's Business Daily IBD at pA2 says MSFT Microsoft climbed 2.4% on Friday after Goldman Sachs upgraded it to its "conviction buy" list saying improved cost controls, good sales drivers and sizable cash balances makes MSFT well positioned. Same page says JPM JPMorgan Chase said it expects to record a $1.1 billion charge in Q2 after returning $25 billion to US.
IBD @ pA9 has a story about big selling drugs going off patent resulting in drugmakers buying up generic mfgers. PFE Pfizer's cholesterol drug Lipitor as mentioned as the best-selling brand name drug in the world. The generic version is expected to reach the market in Nov. '11.
USA Today @ pB1 has a story entitled, "IBM, Google court smaller businesses" that tells how these two companies have stepped up efforts to nudge MSFT Microsoft aside and become tech suppliers of choice to small and medium size businesses.
As reported in my Blog yesterday, a read of Sun's 6/21 AJC, Sunday 6/21 NY Times, Barron 6/22/09, Securities Industry News 6/15, Investment News 6/15 -19, Institutional Investor June issue, CFO June issue, BusinessWeek Small Biz June/July issue, US News & World Report July issue and Newsweek 6/22 issue yielded the following stories about Dow Jones 30 component companies:
AJC has a favorable story about HD Home Depot, its 30 year history, and its future prospects.
BAR @ p21 talks about a competitor of JNJ Johnson & Johnson's Stryker, a specialist in orthopedic implants. JNJ is a big player in the $38 billlion orthpedic-implant market.
WMT is charted by BARs noting that it will be regulated as if it is a bank under the new financial regulations.
MSFT is discussed in an article at Bar p28 in an article with new Yahoo CEO Carol Bartz who is said to be getting Yahoo ready to be sold to MSFT. MSFT is said to be a good buy because it has a large product cycle, piles of cash and a below-market multiple acccord to Eric Savitz at BAR p 34.
Bary Motyl Chief Inv. Off. of Templeton Global Equity Group liked CSCO Cisco @ p41 which is also the subject of another story about how it is installing 3,000 high def screens in Dallas Cowboys new stadium with state of the art technology created by CSCO and T AT&T.
JNJ Johnson & Johnson is one of the rare health care companies that is cheap in a story entitled "J&J is a Bargain" @ BAR p39. Same page ranks XOM ExxonMobil as the top S&P 500 company for the first quarter for stock buybacks of its own shares.
Securities Industry News and Investment News both have lead stories about BlackRkock acquiring Barclays to result in the world's top money manger with $2.7 trillion under management. Merrill Lynch has a distribution system with BlackRock and Merrill's owner BAC Bank of Am. is part owner of BlackRock.
June issue of Inst'l Investor II has a story about Standard Chartered's acquisition to buy the Asian businss of JPM Morgan Cazenove. At p54, II has an article about the business of prime brokers and how JPMorgan is now a leader in this shrinking field even though a year ago it wasn't even in the business of traditional prime brokerage prior to its takeover of Bear. BusinessWeek Small Biz June/July issue has a story about how JPM JPMorgan Chase and other big banks are suspending credit lines to businesses. JPM is also discussed in the cover story of the 6/22 Newsweek at p 47 where it is stated that JPMorgan is among a group of big banks that are forming a new lobby to fight controls on over-the-counter derivatives.
June issue of CFO has a story about the controversy over the high pay of CEOs of public companies and AXP American Express is singled out as its CEO being in the top five of the 29 TARP bailout receivers who received the largest CEO compensation.
US News & World Report July issue in an article at p12 entitled "Digging for gold in a Recession" states that DD Dupont invested nylon during the Great Depression.
6/22 am JPM JPMorgan Affected by Repo Markets Revamp
The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.
A read of Mon. 6/22/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
Leading story at p1 of Fin. Times is that due to concerns over stability of the repo market, the Fed is considering dramatic changes including creating a utility to replace the Wall Street banks that handle repo transactions. JPMorgan is named as one of the banks that would be affected by these changes.
NYtimes has a story today about how an investor plans to sue JPM for allegedly mismanaging an investment account that held $1 billion and in the NYTimes Looking Ahead Column it says that Fed. Res. Chairman Ben. S. Bernanke on Thurs. will testify before the House Oversight and Reform Committee about BAC Bank of America's acquisition of Merrill Lynch.
WSJ @ pB1 has a story entitled, "Tech Giants Ramp Up Their Online Offerings" that details how the recession is forcing HP Hewlett-Packard, Oracle and SAP deeper into a low profit business that these companies have traditionally resisted - selling online software. It says that MSFT Microsoft and IBM have also moved into online software over the past year.
At WSJ pB1 there is a story about Siemens expecting to get $21 billion in new government contracts. The story notes that Siemens wants to challenge GE as a "green infrastructure giant."
At WSJ pB5 there is a story about GM holding its ad budget steady and states that last year GM was third in US advertising behind PG Procter & Gamble and VZ Verison.
At WSJ pC3 it is reported that a consortium is going to buy BAC Bank of America's First Republic Bank. On the same page is a story that boutiques are continuing to raid bigger rivals such as JPM JPMorgan and BAC Bank of America for talent.
At the Options Report at WSJ pC4 it said on Friday the bulls ralllied around technology giants Yahoo and INTC Intel.
At WSJ pC6 in an article about exuberance in the industrial sectors stocks recently are because big, diversified companies such as GE will benefit from increased gov. spending on transportation and energy infrastructure.
WSJ @ pR4 has a story about innovation and says that MMM 3M allows its scientists to spend 15% of their time on projects they dream up themselves.
FT @p13 has a story entitled, "Lehman creditors in fight to recover disputed collateral" which is a news analysis story that questions whether Lehman gave up too much to JPM JPMorgan Chase.
Investor's Business Daily IBD at pA2 says MSFT Microsoft climbed 2.4% on Friday after Goldman Sachs upgraded it to its "conviction buy" list saying improved cost controls, good sales drivers and sizable cash balances makes MSFT well positioned. Same page says JPM JPMorgan Chase said it expects to record a $1.1 billion charge in Q2 after returning $25 billion to US.
IBD @ pA9 has a story about big selling drugs going off patent resulting in drugmakers buying up generic mfgers. PFE Pfizer's cholesterol drug Lipitor as mentioned as the best-selling brand name drug in the world. The generic version is expected to reach the market in Nov. '11.
USA Today @ pB1 has a story entitled, "IBM, Google court smaller businesses" that tells how these two companies have stepped up efforts to nudge MSFT Microsoft aside and become tech suppliers of choice to small and medium size businesses.
As reported in my Blog yesterday, a read of Sun's 6/21 AJC, Sunday 6/21 NY Times, Barron 6/22/09, Securities Industry News 6/15, Investment News 6/15 -19, Institutional Investor June issue, CFO June issue, BusinessWeek Small Biz June/July issue, US News & World Report July issue and Newsweek 6/22 issue yielded the following stories about Dow Jones 30 component companies:
AJC has a favorable story about HD Home Depot, its 30 year history, and its future prospects.
BAR @ p21 talks about a competitor of JNJ Johnson & Johnson's Stryker, a specialist in orthopedic implants. JNJ is a big player in the $38 billlion orthpedic-implant market.
WMT is charted by BARs noting that it will be regulated as if it is a bank under the new financial regulations.
MSFT is discussed in an article at Bar p28 in an article with new Yahoo CEO Carol Bartz who is said to be getting Yahoo ready to be sold to MSFT. MSFT is said to be a good buy because it has a large product cycle, piles of cash and a below-market multiple acccord to Eric Savitz at BAR p 34.
Bary Motyl Chief Inv. Off. of Templeton Global Equity Group liked CSCO Cisco @ p41 which is also the subject of another story about how it is installing 3,000 high def screens in Dallas Cowboys new stadium with state of the art technology created by CSCO and T AT&T.
JNJ Johnson & Johnson is one of the rare health care companies that is cheap in a story entitled "J&J is a Bargain" @ BAR p39. Same page ranks XOM ExxonMobil as the top S&P 500 company for the first quarter for stock buybacks of its own shares.
Securities Industry News and Investment News both have lead stories about BlackRkock acquiring Barclays to result in the world's top money manger with $2.7 trillion under management. Merrill Lynch has a distribution system with BlackRock and Merrill's owner BAC Bank of Am. is part owner of BlackRock.
June issue of Inst'l Investor II has a story about Standard Chartered's acquisition to buy the Asian businss of JPM Morgan Cazenove. At p54, II has an article about the business of prime brokers and how JPMorgan is now a leader in this shrinking field even though a year ago it wasn't even in the business of traditional prime brokerage prior to its takeover of Bear. BusinessWeek Small Biz June/July issue has a story about how JPM JPMorgan Chase and other big banks are suspending credit lines to businesses. JPM is also discussed in the cover story of the 6/22 Newsweek at p 47 where it is stated that JPMorgan is among a group of big banks that are forming a new lobby to fight controls on over-the-counter derivatives.
June issue of CFO has a story about the controversy over the high pay of CEOs of public companies and AXP American Express is singled out as its CEO being in the top five of the 29 TARP bailout receivers who received the largest CEO compensation.
US News & World Report July issue in an article at p12 entitled "Digging for gold in a Recession" states that DD Dupont invested nylon during the Great Depression.
The Dow closed Friday at 8539.73 down 15.87 or down .19%. Of the Dow 14 gained value and 16 lost. The Dow was down 3% for the week.
A read of Mon. 6/22/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:
Leading story at p1 of Fin. Times is that due to concerns over stability of the repo market, the Fed is considering dramatic changes including creating a utility to replace the Wall Street banks that handle repo transactions. JPMorgan is named as one of the banks that would be affected by these changes.
NYtimes has a story today about how an investor plans to sue JPM for allegedly mismanaging an investment account that held $1 billion and in the NYTimes Looking Ahead Column it says that Fed. Res. Chairman Ben. S. Bernanke on Thurs. will testify before the House Oversight and Reform Committee about BAC Bank of America's acquisition of Merrill Lynch.
WSJ @ pB1 has a story entitled, "Tech Giants Ramp Up Their Online Offerings" that details how the recession is forcing HP Hewlett-Packard, Oracle and SAP deeper into a low profit business that these companies have traditionally resisted - selling online software. It says that MSFT Microsoft and IBM have also moved into online software over the past year.
At WSJ pB1 there is a story about Siemens expecting to get $21 billion in new government contracts. The story notes that Siemens wants to challenge GE as a "green infrastructure giant."
At WSJ pB5 there is a story about GM holding its ad budget steady and states that last year GM was third in US advertising behind PG Procter & Gamble and VZ Verison.
At WSJ pC3 it is reported that a consortium is going to buy BAC Bank of America's First Republic Bank. On the same page is a story that boutiques are continuing to raid bigger rivals such as JPM JPMorgan and BAC Bank of America for talent.
At the Options Report at WSJ pC4 it said on Friday the bulls ralllied around technology giants Yahoo and INTC Intel.
At WSJ pC6 in an article about exuberance in the industrial sectors stocks recently are because big, diversified companies such as GE will benefit from increased gov. spending on transportation and energy infrastructure.
WSJ @ pR4 has a story about innovation and says that MMM 3M allows its scientists to spend 15% of their time on projects they dream up themselves.
FT @p13 has a story entitled, "Lehman creditors in fight to recover disputed collateral" which is a news analysis story that questions whether Lehman gave up too much to JPM JPMorgan Chase.
Investor's Business Daily IBD at pA2 says MSFT Microsoft climbed 2.4% on Friday after Goldman Sachs upgraded it to its "conviction buy" list saying improved cost controls, good sales drivers and sizable cash balances makes MSFT well positioned. Same page says JPM JPMorgan Chase said it expects to record a $1.1 billion charge in Q2 after returning $25 billion to US.
IBD @ pA9 has a story about big selling drugs going off patent resulting in drugmakers buying up generic mfgers. PFE Pfizer's cholesterol drug Lipitor as mentioned as the best-selling brand name drug in the world. The generic version is expected to reach the market in Nov. '11.
USA Today @ pB1 has a story entitled, "IBM, Google court smaller businesses" that tells how these two companies have stepped up efforts to nudge MSFT Microsoft aside and become tech suppliers of choice to small and medium size businesses.
As reported in my Blog yesterday, a read of Sun's 6/21 AJC, Sunday 6/21 NY Times, Barron 6/22/09, Securities Industry News 6/15, Investment News 6/15 -19, Institutional Investor June issue, CFO June issue, BusinessWeek Small Biz June/July issue, US News & World Report July issue and Newsweek 6/22 issue yielded the following stories about Dow Jones 30 component companies:
AJC has a favorable story about HD Home Depot, its 30 year history, and its future prospects.
BAR @ p21 talks about a competitor of JNJ Johnson & Johnson's Stryker, a specialist in orthopedic implants. JNJ is a big player in the $38 billlion orthpedic-implant market.
WMT is charted by BARs noting that it will be regulated as if it is a bank under the new financial regulations.
MSFT is discussed in an article at Bar p28 in an article with new Yahoo CEO Carol Bartz who is said to be getting Yahoo ready to be sold to MSFT. MSFT is said to be a good buy because it has a large product cycle, piles of cash and a below-market multiple acccord to Eric Savitz at BAR p 34.
Bary Motyl Chief Inv. Off. of Templeton Global Equity Group liked CSCO Cisco @ p41 which is also the subject of another story about how it is installing 3,000 high def screens in Dallas Cowboys new stadium with state of the art technology created by CSCO and T AT&T.
JNJ Johnson & Johnson is one of the rare health care companies that is cheap in a story entitled "J&J is a Bargain" @ BAR p39. Same page ranks XOM ExxonMobil as the top S&P 500 company for the first quarter for stock buybacks of its own shares.
Securities Industry News and Investment News both have lead stories about BlackRkock acquiring Barclays to result in the world's top money manger with $2.7 trillion under management. Merrill Lynch has a distribution system with BlackRock and Merrill's owner BAC Bank of Am. is part owner of BlackRock.
June issue of Inst'l Investor II has a story about Standard Chartered's acquisition to buy the Asian businss of JPM Morgan Cazenove. At p54, II has an article about the business of prime brokers and how JPMorgan is now a leader in this shrinking field even though a year ago it wasn't even in the business of traditional prime brokerage prior to its takeover of Bear. BusinessWeek Small Biz June/July issue has a story about how JPM JPMorgan Chase and other big banks are suspending credit lines to businesses. JPM is also discussed in the cover story of the 6/22 Newsweek at p 47 where it is stated that JPMorgan is among a group of big banks that are forming a new lobby to fight controls on over-the-counter derivatives.
June issue of CFO has a story about the controversy over the high pay of CEOs of public companies and AXP American Express is singled out as its CEO being in the top five of the 29 TARP bailout receivers who received the largest CEO compensation.
US News & World Report July issue in an article at p12 entitled "Digging for gold in a Recession" states that DD Dupont invested nylon during the Great Depression.
The Dow closed Friday at 8539.73 down 15.87 or down .19%. Of the Dow 14 gained value and 16 lost. The Dow was down 3% for the week.
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