Wednesday, June 24, 2009

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
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