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
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