Wednesday, June 17, 2009

6/17 p.m. Dow Closes at 8497.18 down 7.49 down .09

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 8497.18 down 7.49 or 0.09% 13 of the Dow 30 lost value and 17 gained.

The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is
.132319125 unchanged.

Wednesday's Dow numerator was 1124.34 down .99 from Tuesday's Dow numerator which was 1,125.33. 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 decrease of .99 in the Dow numerator by the divisor you get 7.49, the decrease in Monday's Dow.

The average closing price of Wednesday's Dow Jones was $37.47 down .04 from Tuesday's average closing price of $37.51. The median closing price of Wednesday's Dow Jones is $31.25.

The highest closing price Tuesday again was IBM at $107.00 down .32 from Tuesday's close and the lowest closing price Tuesday again was AA Alcoa at $10.49 down .41 from Monday's close of $11.99.

The lowest volume Wednesday was MMM $59.04 +0.63 up 1.08% at 3,824,344 shares and the highest volume was BAC Bank of America BAC $12.3 -0.43 3.38% at 441,792,600 shares.

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 $120 ($113,940 - $112,530).

Wednesday's Closing Dow closing numbers:

Symb/Last/Change/% Change/Vol./Market
T $24.14 -0.08 0.33% 27,884,448 NYSE
AA $10.49 -0.41 3.76% 41,683,981 NYSE
AXP $23.95 -0.74 3% 17,688,398 NYSE
BAC $12.3 -0.43 3.38% 441,792,600 NYSE
BA $48.55 -0.28 0.57% 4,853,065 NYSE
CAT $34.8 -0.76 2.14% 15,353,919 NYSE
CSCO $19.2 +0.12 0.63% 47,690,205 NASDAQ-GS
CVX $68.83 -1.05 1.5% 15,410,889 NYSE
KO $47.93 +0.10 0.21% 8,271,177 NYSE
DIS $23.68 +0.19 0.81% 8,531,309 NYSE
DD $24.8 -0.40 1.59% 10,046,508 NYSE
XOM $71.42 -0.21 0.29% 29,639,808 NYSE
GE $12.25 -0.53 4.15% 128,698,910 NYSE
HPQ $37.42 +0.58 1.57% 16,839,784 NYSE
HD $23.65 +0.45 1.94% 18,967,151 NYSE
INTC $16.14 +0.28 1.77% 58,694,434 NASDAQ-GS
IBM $107 -0.32 0.3% 7,327,006 NYSE
JPM $32.73 -0.77 2.3% 65,379,683 NYSE
JNJ $55.2 +0.58 1.06% 11,658,181 NYSE
KFT $24.88 +0.07 0.28% 13,183,737 NYSE
MCD $57.37 +0.30 0.53% 7,179,870 NYSE
MRK $24.77 +0.34 1.39% 23,412,134 NYSE
MSFT $23.68 +0.23 0.98% 85,500,645 NASDAQ-GS
PFE $14.58 +0.42 2.97% 54,548,128 NYSE
PG $50.01 -0.09 0.18% 12,610,599 NYSE
MMM $59.04 +0.63 1.08% 3,824,344 NYSE
TRV $42.51 +0.14 0.33% 4,756,766 NYSE
UTX $54.68 +0.10 0.18% 5,594,533 NYSE
VZ $29.78 +0.24 0.81% 12,257,975 NYSE
WMT $48.56 +0.31 0.64% 19,203,845 NYSE

A read of today's Wednesday 6/17/09 print editions of: Wall Street Journal, New York Times, USA Today, Investor's Business Daily, Financial Times and Atlanta Journal Constitution yielded the following stories about Dow Jones 30 component companies:

Today's NYT @ pA33 has a story about Best Buy adding market share but its profits fell 15% last quarter. The story mentions increasing pressure for Best Buy from WMT Wal-Mart which is aggressiveley expanding into higher-end TV and electronics with names like Sony and Dell. Best Buy's troubles was the lead story on the front page of Investor's Business Daily that also mentions WMT Wal-Mart picking up Circuit City's 6 to 8% market share in the electonrics market. This story is also the subject of an article @ pB3 of today's WSJ.

AJC @ pA8 says PG Procter & Gamble announced it will buy the upscale men's skin care Zirh to continue building its men's grooming business. PG fell $1.23 yesterday to close at 50.10.

FT @pA2 reports on MSFT Microsoft targeting "click fraud" that tricks advertisers to pay for false Web traffic. On the same page in Business Briefs, FT reports that Wendy's/Arby's group is trying to expand its international reach and catch up with competitors such as MCD McDonalds. This is also the subject of a story at WSJ pB5.

IBD @ pA2 says that BAC Bank of America is in talks with Carlyle Group about selling its Frist Republic Bank that it got when it took over Merrill Lynch.

Investor's Business Daily @ pA4 has a story entitled "Cisco Touts a Killer App: Online Video" that reports on an interview with CSCO's CEO John Chambers who said that if he had to make one bet on the future, he would bet on video noting that in March CSCO said it would pay 590 million for Pure Digital Technologies, makers of the Flip mini camcorder designed to make sharing video online easier.

NYT @ pA33 reports that BA Boeing and Airbus are gong to compete to win a $35 billion contract from the Air Force to see who will build refueling tankers. BA plans to propose converting its 777 passenger plane into a refueling tanker. The 777 is bigger than what Airbus is offering. The Fin. Times @p14 reports the same story and FT @ P12 says that costs over-runs on Airbus and BA civil and military aircraft developmetns have become the norm in an aticle about aerospace.

FT @ p22 in an article on the stock market said T AT&T dropped 1.7% yesterday to 24.22 after its shares were downgraded by Barclays Capital, which said continuing high unemployment would make growth difficult.

IBD @ pA6 has a story about Cloud computing and that IBM and MSFT Microsfot along with Amazon and Google have launched cloud services.

WSJ @ B4 reports in "Corporate Watch" that Etiahd Airways placed an engine order with GE's GE Aviation unit, Roll-Royce and @ pB5 in the "Technology" Section has an article about Research In Mtion's new Black-Berry Tour smart phone that it will sell through VZ Verizon. The device will give VZ and Sprint a high-end business phone comparable to the BlackBerryBold that RIM sells through T AT&T.

WSJ @ pB5A says that Boston Scientific tested a new medicated heart stent and mentions JNJ Johnson & Johnson as a competitor.

WSJ @ pB5B says that Advanced Micro Devices Inc. has a head start in a race with INTC Intel Corp. to be the lead provider of chips for a new batch of cheaper notebooks, but it remains unclear for how long it can maintain this advantage. The story notes that AMD worked with HPQ Hewlett-Packard to bring out a light-and-thin notebook, the Dv2.

WSJ @ pB6 says that Starbucks is changing the way it brews new coffee to better compete with competition from 7-11 and MCD McDonalds.

WSJ @ pC5 says that options traders appeared to be taking bullish positions in MSFT Microsfot after analysts said the stock could significantly outperform its peers.

USA Today's lead story on its Money page at p1b is entitled "IPhone guts At&T network capacity" stating that T's wireless network is having a hard time keeping up with the Apple iPhone with respect to "tethering" which allows a wireless device to serve as a broadband modem to provide over the air support for laptops, PCs and the like. T has more than 7 million iPhone users more than an other carrier in the world so this really loads their network.