Post #31 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Friday at $28.33 +0.10 0.35% on volume of 11,828,752 NYSE. AXP in terms of market value ranks 25th amont the Dow Jones 30 Industrial Average with a market cap of $33 billion. For the complete list of ranking as of 7/30/09 see the listing after today's media report in today's Blog.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
The Dow closed Friday at 9171.61 up 17.15 up 0.19% from Thursday's Dow close of 9154.46. Of the 30 Dow Companies: 19 gained, and 11 declined with the biggest loser being DIS $25.12 -1.10 -4.2% 24,921,137 NYSE and the biggest gainer being CVX $69.47 +1.77 2.61% 16,230,075 NYSE.
Friday's Dow closing numerator was 1213.58 up 2.27 from Thursday's closing Dow numerator of 1211.31. 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 numerator increase for today of 2.27 by the divisor you get 17.15, the increase in Friday's Dow close.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones was 40.45 up 0.07 from Thursday's Dow Jones Industrial Average closing price of 40.38. The median closing price of Friday's Dow Jones Industrial Average was 35.36 down 0.03 from 35.39 up 0.52 from Thursday's Dow Jones median closing price of 35.39.
The highest closing price Friday again was IBM $117.93 +0.07 +0.06% 5,257,406 NYSE and the lowest closing price Friday again was Alcoa AA $$11.76 +0.30 +2.62% 26,615,168 NYSE.
The lowest volume Friday was TRV $43.07 +1.13 2.69% 4,160,417 NYSE and the highest volume again was BAC BofAm $14.79 +0.82 5.87% 371,956,931 NYSE.
If Friday 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 $210 ($121,350 - $121,140).
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $26.23 -0.11 -0.42% 27,185,976 NYSE
AA $11.76 +0.30 2.62% 26,615,168 NYSE
AXP $28.33 +0.10 0.35% 11,828,752 NYSE
BAC $14.79 +0.82 5.87% 371,956,931 NYSE
BA $42.91 -0.33 0.76% 6,024,978 NYSE
CAT $44.06 +0.65 1.5% 11,728,293 NYSE
CVX $69.47 +1.77 2.61% 16,230,075 NYSE
CSCO $22.01 +0.03 0.14% 41,821,106 NASDAQ-GS
KO $49.84 +0.17 0.34% 8,279,442 NYSE
DIS $25.12 -1.10 4.2% 24,921,137 NYSE
DD $30.93 +0.12 0.39% 6,261,162 NYSE
XOM $70.39 -0.33 0.47% 27,789,631 NYSE
GE $13.4 +0.29 2.21% 108,837,973 NYSE
HPQ $43.3 +0.59 1.38% 20,938,982 NYSE
HD $25.94 +0.09 0.35% 11,666,924 NYSE
INTC $19.25 -0.08 0.41% 46,665,077 NASDAQ-GS
IBM $117.93 +0.07 0.06% 5,257,406 NYSE
JPM $38.65 +0.18 0.47% 38,701,865 NYSE
JNJ $60.89 -0.90 1.46% 13,064,951 NYSE
KFT $28.34 -0.23 0.81% 9,305,138 NYSE
MCD $55.06 -0.53 0.95% 13,450,010 NYSE
MRK $30.01 +0.07 0.23% 15,452,094 NYSE
MSFT $23.52 -0.29 1.22% 54,525,177 NASDAQ-GS
PFE $15.93 -0.01 0.06% 42,685,469 NYSE
PG $55.51 -0.72 1.28% 12,504,061 NYSE
MMM $70.52 +0.62 0.89% 4,455,331 NYSE
TRV $43.07 +1.13 2.69% 4,160,417 NYSE
UTX $54.47 +0.24 0.44% 5,712,695 NYSE
VZ $32.07 -0.24 0.74% 13,794,768 NYSE
WMT $49.88 -0.10 0.2% 14,520,530 NYSE
The following is a ranking of all Dow Jones Industrial Average 30 Companies based on the value of their outstanding shares as of close of the Dow on Thursday July 30, 2009 with the market value rounded to the nearest billion.
Rank/Dow Company Symbol & Name Value of Float in Billions # of Shares Outstanding
1. XOM Exxon Mobil $345 Billion 4,879,710,000
2. MSFT Microsfot $212 Billion 8,899,720,000
3. WMT Wal-Mart $195 Billion 3,896,618,000
4. JNJ Johnson & Jo $170 Billion 2,755,566,000
5. PG Procter & Gam $164 Billion 2,914,702,000
6. IBM $158 Billion 1,341,678,000
7. T AT&T $155 Billion 5,900,000,000
8. JPM JP Morgan Chas $145 Billion 3,759,160,000
9. GE $139 Billion 10,589,575,000
10. CVX Chevron $136 Billion 2,004,672,000
11. CSCO Cisco $127 Billion 5,767,881,000
12. KO Coke $115 Billion 2,314,998,000
13. INTC Intel $108 Billion 5,585,000,000
14. PFE Pfizer $108 Billion 6,747,979,000
15. HPQ Hewlett-Packa $102 Billion 2,386,262,000
16. VZ Verizon $92 Billion 2,840,574,000
17. BAC Bank of Ameri $89 Billion 6,402,966,000
18. MRK Merck $63 Billion 2,108,669,000
19. MCD McDonald's $61 Billion 1,103,243,000
20. UTX United Techn $51 Billion 941,273,000
21. DIS Walt Disney $49 Billion 1,856,752,000
22. MMM 3M $49 Billion 694,384,000
23. HD Home Depot $44 Billion 1,703,395,000
24. KFT Kraft $42 Billion 1,472,743,000
25. AXP American Exp. $33 Billion 1,167,625,000
26. BA Boeing $31 Billion 726,432,000
27. DD DuPont $28 Billion 903,608,000
28. CAT Caterpillar $26 Billion 601,752,000
29. TRV Travelers $25 Billion 585,430,000
30. AA Alcoa $11 Billion 974,276,000
THE FOLLOWING APPEARED IN FRIDAY AFTERNOON'S BLOG:
A read of Friday's 7/31/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Lead story at Fin Times p1 ". . .Exxon profits tumble - Price falls and weak demand hit revenues" says XOM Exxon Mobil's earning for 2Q were $3.95 billion or 0.81 a share down from 11.68 b or 2.22 share a year ago. Analysts had expected net income of 1.02 a share. This is also reported at Inv Bus Daily pA6, AJC pA18, WSJ pB3 saying recession's impact on oil prices and demand hurt XOM. Fin Times p16 "Exxon faces questions over goals - The conservative approach is being questioned" says environmentalists, corporate governance activits and many politicians may not like XOM Exxon Mobil but its shareholders do as over the past 5 years while the Dow Jones Industrial Average has lost 9% of its value, XOM Exxon's shares ahve gone up 53%.
WSJ pB1 "Bottom Lines Buoy Rebound Hopes - Though Profits Are Still Weak, Cost Cuts, Overseas Demand Help Many Companies Find Footing" says ten months after credit markets froze and deepened the recession, many companies are seeing signs of a bottom such as MMM (results helped by cost cutting; raised forecast for the year); VZ Verizon (pullback in business spending hurt results: plans 8,000 new job cuts); and XOM Exxonobil (results hurt by falling oil prices.) Related stoy at pB3 "Disney Sees Signs Economy Is Set To Get Off Ground - Disney's earnings dropped 26%, but the decline was less steep than in recent quarters as executives discerned signs of economic stability." Dis's earnings are reported at Inv Bus Daily pA2 and at USAToday p3B "Disney profit sinks on slow DVD sales." USA Today's "Markets Thursday" "Upbeat earningsreports propel stocks" mentions that buying of Dow shares started 7/13 after T AT&T, INTC Intel and CAT Caterpillar posted results that outran expecations. AJC makes a similar statement at pA19 "Dow looks for big July finish" noting that the Dow Jones Industrial average is a day away from locing in its best July in 20 years.
Dis's sale of its ABC radio business is mentioned in a WSJ pC3 item on Lazard banker John Chachas' possible Senate run for seat held by Nevada's Harry Reid. Dis's results are also reproted at AJCpA18 "Disney profit declines on lower revenue."
WSJ pC1 "Dow Gains 83.74 Ponts on Jobless Claims, GE" says the Dow's increase was led by a 7% surge in GE up 0.85 to 13.11 after Goldman Sachs analysts upgraded the conglomerate's shares to "buy" from "neutral" saying it appears less likely that GE will be forced to sever its GE Capital unit. Similar theme at WSJ pC5 "GE, Dow Chemical, Motorola Lead Rally" in "Large Stock Focus" column. Side bar of "The Good News . . ." charts GE. GE's results also reported at Inv Bus Daily pA7.
Front page story at WSJ pA3 "Bank Bonus Tab: $33 Billion - Nine Lenders That Got US Aid Paid at Least $1 million Each to 5,000 Employees" includes BofAm BA; BofA's Merrill Lynch, and JPM JPMorgan in the list. Same story on front page of NYT and front page of USA Today Money Section. USA Today pB1 reports that JPM JPMorgan was subpoenaed by a Senate panel seeking evidence of fraud from last year's mortgage crisis.
BAC BofA is mentioned in a story at WJC pC3 "In Banks' Profit Push, Era of Low Fees Is Over" where it says BofAm boosted its montly maintenance fee for its MyAccess checking account to $8.95 and also raised its fee for credit card balance transfer to 4%.
WSJ pB4 says PFE Pfizer will pay $75 million in a settlement of a lawsuit over a '96 clinical study in Africa as a result of their study of the drug Trovan that was conducted during Nigeria's worst meningitis epidemic. Lawsuits accused PFE of violating human rights standards by experimenting on children without their consent.
TRV Traveler's is not mentioned much but they are in a story at WSJ pC5 "Travelers' profit Sinks 21% . . ." that says TRV's 2Q profit fell 21% on lower revenue and higher claims closts. TRV, a commercial and personal insurance provider, still raised its full year earnings outlook to 4.80 to 5.05 a share from its earlier outlook of 4.55 to 4.95 a share. CEO Jay Fishman says TRV's performance reflected good underwriting and fixed income investment results as well as the continued impact of low short term investment yeilds and a small loss on its alternative investment portfolio. TRV replaced former parent Citigroup in the Dow Jones Industrial Average.
CAT Caterpillar, another Dow Jones 30 not often in the news, is the subject of a story at Fin Times p10 where its CEO, Jim Owens, is interviewed. James W. Ownes became CEO in '04 having started there in '72 as a PhD grad in economics. CAT is generally seen as a bellwether of the US and global industrial economy. Owens' first 3 years as CEO saw large growth in demand for CAT's products driven by the commodity boom and emerging markets. James Owens, 2 years ago, became on of the first US CEOs to warn of an economic downturn. CAT made its first quarterly loss for 17 ears and recently cut 26,000 jobs. James Ownes sits on Pres. Obama's Economic Recovery Advisory Baord.
WSJ pB4 says Sanofi-Aventis SA will buy out MRK Merck's share of their animal health joint venture, Merial Ltd. for $4bil (MRK's share was 50% of the venture).
WSJ pB5 "Ballmer Defends Yahoo Deal" saying investors have failed to appreciate the value a search deal MSFT struck with Yahoo. Similar theme at Fin Times p15 "Ballmer mounts defence of alliance" and same page "Partnership urged to take rapid action" and same page, a third story, "Venture to face regulatory scrutiny." Inv Bus Daily pA10 has an editorial "Hands Off Microsoft-Yahoo, Please" that says Congress and federal regulators should not put the MSFT Yahoo deal through the political meat grinder.
WSJ pB5 "FCC Eyes Rural Impact of Cellphone Tie-Ups" says FCC's inquiry into exclusive carrier deals on popular cell phones will focus on customers in rural areas who can't buy Apple's iPhone or Palm's Pre smart phone because the cariers don't serve their markets. T AT&T has a multiyear deal to offer the iPhone. VZ Verizon Wireless (jv of VZ and Vodafone) say exclusive handset deals prompt innovation by forcing competitors to forge their own agreements with manufacturers and come up with newer and fancier phones.
AJC pA18 has an item "Coke, CCE roll out new 2 liter contour bottles."
Friday, July 31, 2009
7/31/09 am Exxon Mobil's Profit Drops to 6 Year Low
Post #30 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Thursday at $28.23 +0.48 or 1.73% on volume of 13,796,273 NYSE. AXP in terms of market value ranks 25th amont the Dow Jones 30 Industrial Average with a market cap of $33 billion. For the complete list of ranking as of 7/30/09 see the listing after today's media report in today's Blog.
A read of Friday's 7/31/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Lead story at Fin Times p1 ". . .Exxon profits tumble - Price falls and weak demand hit revenues" says XOM Exxon Mobil's earning for 2Q were $3.95 billion or 0.81 a share down from 11.68 b or 2.22 share a year ago. Analysts had expected net income of 1.02 a share. This is also reported at Inv Bus Daily pA6, AJC pA18, WSJ pB3 saying recession's impact on oil prices and demand hurt XOM. Fin Times p16 "Exxon faces questions over goals - The conservative approach is being questioned" says environmentalists, corporate governance activits and many politicians may not like XOM Exxon Mobil but its shareholders do as over the past 5 years while the Dow Jones Industrial Average has lost 9% of its value, XOM Exxon's shares ahve gone up 53%.
WSJ pB1 "Bottom Lines Buoy Rebound Hopes - Though Profits Are Still Weak, Cost Cuts, Overseas Demand Help Many Companies Find Footing" says ten months after credit markets froze and deepened the recession, many companies are seeing signs of a bottom such as MMM (results helped by cost cutting; raised forecast for the year); VZ Verizon (pullback in business spending hurt results: plans 8,000 new job cuts); and XOM Exxonobil (results hurt by falling oil prices.) Related stoy at pB3 "Disney Sees Signs Economy Is Set To Get Off Ground - Disney's earnings dropped 26%, but the decline was less steep than in recent quarters as executives discerned signs of economic stability." Dis's earnings are reported at Inv Bus Daily pA2 and at USAToday p3B "Disney profit sinks on slow DVD sales." USA Today's "Markets Thursday" "Upbeat earningsreports propel stocks" mentions that buying of Dow shares started 7/13 after T AT&T, INTC Intel and CAT Caterpillar posted results that outran expecations. AJC makes a similar statement at pA19 "Dow looks for big July finish" noting that the Dow Jones Industrial average is a day away from locing in its best July in 20 years.
Dis's sale of its ABC radio business is mentioned in a WSJ pC3 item on Lazard banker John Chachas' possible Senate run for seat held by Nevada's Harry Reid. Dis's results are also reproted at AJCpA18 "Disney profit declines on lower revenue."
WSJ pC1 "Dow Gains 83.74 Ponts on Jobless Claims, GE" says the Dow's increase was led by a 7% surge in GE up 0.85 to 13.11 after Goldman Sachs analysts upgraded the conglomerate's shares to "buy" from "neutral" saying it appears less likely that GE will be forced to sever its GE Capital unit. Similar theme at WSJ pC5 "GE, Dow Chemical, Motorola Lead Rally" in "Large Stock Focus" column. Side bar of "The Good News . . ." charts GE. GE's results also reported at Inv Bus Daily pA7.
Front page story at WSJ pA3 "Bank Bonus Tab: $33 Billion - Nine Lenders That Got US Aid Paid at Least $1 million Each to 5,000 Employees" includes BofAm BA; BofA's Merrill Lynch, and JPM JPMorgan in the list. Same story on front page of NYT and front page of USA Today Money Section. USA Today pB1 reports that JPM JPMorgan was subpoenaed by a Senate panel seeking evidence of fraud from last year's mortgage crisis.
BAC BofA is mentioned in a story at WJC pC3 "In Banks' Profit Push, Era of Low Fees Is Over" where it says BofAm boosted its montly maintenance fee for its MyAccess checking account to $8.95 and also raised its fee for credit card balance transfer to 4%.
WSJ pB4 says PFE Pfizer will pay $75 million in a settlement of a lawsuit over a '96 clinical study in Africa as a result of their study of the drug Trovan that was conducted during Nigeria's worst meningitis epidemic. Lawsuits accused PFE of violating human rights standards by experimenting on children without their consent.
TRV Traveler's is not mentioned much but they are in a story at WSJ pC5 "Travelers' profit Sinks 21% . . ." that says TRV's 2Q profit fell 21% on lower revenue and higher claims closts. TRV, a commercial and personal insurance provider, still raised its full year earnings outlook to 4.80 to 5.05 a share from its earlier outlook of 4.55 to 4.95 a share. CEO Jay Fishman says TRV's performance reflected good underwriting and fixed income investment results as well as the continued impact of low short term investment yeilds and a small loss on its alternative investment portfolio. TRV replaced former parent Citigroup in the Dow Jones Industrial Average.
CAT Caterpillar, another Dow Jones 30 not often in the news, is the subject of a story at Fin Times p10 where its CEO, Jim Owens, is interviewed. James W. Ownes became CEO in '04 having started there in '72 as a PhD grad in economics. CAT is generally seen as a bellwether of the US and global industrial economy. Owens' first 3 years as CEO saw large growth in demand for CAT's products driven by the commodity boom and emerging markets. James Owens, 2 years ago, became on of the first US CEOs to warn of an economic downturn. CAT made its first quarterly loss for 17 ears and recently cut 26,000 jobs. James Ownes sits on Pres. Obama's Economic Recovery Advisory Baord.
WSJ pB4 says Sanofi-Aventis SA will buy out MRK Merck's share of their animal health joint venture, Merial Ltd. for $4bil (MRK's share was 50% of the venture).
WSJ pB5 "Ballmer Defends Yahoo Deal" saying investors have failed to appreciate the value a search deal MSFT struck with Yahoo. Similar theme at Fin Times p15 "Ballmer mounts defence of alliance" and same page "Partnership urged to take rapid action" and same page, a third story, "Venture to face regulatory scrutiny." Inv Bus Daily pA10 has an editorial "Hands Off Microsoft-Yahoo, Please" that says Congress and federal regulators should not put the MSFT Yahoo deal through the political meat grinder.
WSJ pB5 "FCC Eyes Rural Impact of Cellphone Tie-Ups" says FCC's inquiry into exclusive carrier deals on popular cell phones will focus on customers in rural areas who can't buy Apple's iPhone or Palm's Pre smart phone because the cariers don't serve their markets. T AT&T has a multiyear deal to offer the iPhone. VZ Verizon Wireless (jv of VZ and Vodafone) say exclusive handset deals prompt innovation by forcing competitors to forge their own agreements with manufacturers and come up with newer and fancier phones.
AJC pA18 has an item "Coke, CCE roll out new 2 liter contour bottles."
The following is a ranking of all Dow Jones Industrial Average 30 Companies based on the value of their outstanding shares as of close of the Dow on Thursday July 30, 2009 with the market value rounded to the nearest billion.
Rank/Dow Company Symbol & Name Value of Float in Billions # of Shares Outstanding
1. XOM Exxon Mobil $345 Billion 4,879,710,000
2. MSFT Microsfot $212 Billion 8,899,720,000
3. WMT Wal-Mart $195 Billion 3,896,618,000
4. JNJ Johnson & Jo $170 Billion 2,755,566,000
5. PG Procter & Gam $164 Billion 2,914,702,000
6. IBM $158 Billion 1,341,678,000
7. T AT&T $155 Billion 5,900,000,000
8. JPM JP Morgan Chas $145 Billion 3,759,160,000
9. GE $139 Billion 10,589,575,000
10. CVX Chevron $136 Billion 2,004,672,000
11. CSCO Cisco $127 Billion 5,767,881,000
12. KO Coke $115 Billion 2,314,998,000
13. INTC Intel $108 Billion 5,585,000,000
14. PFE Pfizer $108 Billion 6,747,979,000
15. HPQ Hewlett-Packa $102 Billion 2,386,262,000
16. VZ Verizon $92 Billion 2,840,574,000
17. BAC Bank of Ameri $89 Billion 6,402,966,000
18. MRK Merck $63 Billion 2,108,669,000
19. MCD McDonald's $61 Billion 1,103,243,000
20. UTX United Techn $51 Billion 941,273,000
21. DIS Walt Disney $49 Billion 1,856,752,000
22. MMM 3M $49 Billion 694,384,000
23. HD Home Depot $44 Billion 1,703,395,000
24. KFT Kraft $42 Billion 1,472,743,000
25. AXP American Exp. $33 Billion 1,167,625,000
26. BA Boeing $31 Billion 726,432,000
27. DD DuPont $28 Billion 903,608,000
28. CAT Caterpillar $26 Billion 601,752,000
29. TRV Travelers $25 Billion 585,430,000
30. AA Alcoa $11 Billion 974,276,000
THE FOLLOWING APPEARED IN THURSDAY AFTERNOON'S BLOG:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
The Dow closed Thursday at 9154.46 up 83.74 or 0.92% from Wednesday's close of 9070.72. Of the 30 Dow Companies: 25 gained, and 5 declined with the biggest loser being NYSE and the biggest gainer being NYSE.
Thursday's Dow closing numerator was 1211.31 up 11.08 from Wednesdays's Dow closing numerator of 1200.23. 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 numerator increase for today of 11.08 by the divisor you get 83.74, the increase in Thursday's Dow close.
The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones was 40.38 up 0.38 from Wednesday's average closing price of 40.00. The median closing price of Thurssday's Dow Jones was 35.39 up 0.52 from Wednesday's Dow Jones median closing price of 34.87.
The highest closing price Thursday was IBM $$117.86 +0.60 0.51% 6,745,050 NYSE and the lowest closing price Wednesday again was Alcoa AA $ $11.46 +0.45 4.09% 30,398,888 NYSE.
The lowest volume Thursday was MMM $69.94 +1.22 1.78% 3,876,285 NYSE and the highest volume was BAC BofAm $13.97 +0.45 3.33% 283,077,122 NYSE.
If Thursday 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 $1,140 ($121,140 - $120,000).
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $26.34 +0.39 1.5% 31,287,662 NYSE
AA $11.46 +0.45 4.09% 30,398,888 NYSE
AXP $28.23 +0.48 1.73% 13,796,273 NYSE
BAC $13.97 +0.45 3.33% 283,077,122 NYSE
BA $43.24 -0.13 0.3% 8,140,852 NYSE
CAT $43.41 +1.58 3.78% 14,886,918 NYSE
CVX $67.7 +0.58 0.86% 11,442,477 NYSE
CSCO $21.98 +0.26 1.2% 52,515,542 NASDAQ-GS
KO $49.67 +0.39 0.79% 9,684,262 NYSE
DIS $26.22 +0.33 1.27% 16,675,678 NYSE
DD $30.81 +1.27 4.3% 8,586,534 NYSE
XOM $70.72 -0.71 0.99% 37,598,142 NYSE
GE $13.11 +0.85 6.93% 168,336,203 NYSE
HPQ $42.71 +0.52 1.23% 18,935,992 NYSE
HD $25.85 +0.46 1.81% 13,457,919 NYSE
INTC $19.33 -0.07 0.36% 60,137,392 NASDAQ-GS
IBM $117.86 +0.60 0.51% 6,745,050 NYSE
JPM $38.47 +0.70 1.85% 37,639,684 NYSE
JNJ $61.79 +0.63 1.03% 12,585,558 NYSE
KFT $28.57 +0.03 0.11% 9,753,888 NYSE
MCD $55.59 -0.82 1.45% 13,783,218 NYSE
MRK $29.94 +0.07 0.23% 18,660,520 NYSE
MSFT $23.81 +0.01 0.04% 67,300,865 NASDAQ-GS
PFE $15.94 +0.19 1.21% 47,838,968 NYSE
PG $56.23 +0.11 0.2% 11,911,353 NYSE
MMM $69.94 +1.22 1.78% 3,876,285 NYSE
TRV $41.86 -0.77 1.81% 7,738,658 NYSE
UTX $54.12 +0.92 1.73% 6,853,332 NYSE
VZ $32.3 +0.32 1% 17,816,052 NYSE
WMT $50.+03 0.66 1.34% 16,232,786 NYSE
Here are the latest SEC filings as of 7/15/09 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
A read of Friday's 7/31/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Lead story at Fin Times p1 ". . .Exxon profits tumble - Price falls and weak demand hit revenues" says XOM Exxon Mobil's earning for 2Q were $3.95 billion or 0.81 a share down from 11.68 b or 2.22 share a year ago. Analysts had expected net income of 1.02 a share. This is also reported at Inv Bus Daily pA6, AJC pA18, WSJ pB3 saying recession's impact on oil prices and demand hurt XOM. Fin Times p16 "Exxon faces questions over goals - The conservative approach is being questioned" says environmentalists, corporate governance activits and many politicians may not like XOM Exxon Mobil but its shareholders do as over the past 5 years while the Dow Jones Industrial Average has lost 9% of its value, XOM Exxon's shares ahve gone up 53%.
WSJ pB1 "Bottom Lines Buoy Rebound Hopes - Though Profits Are Still Weak, Cost Cuts, Overseas Demand Help Many Companies Find Footing" says ten months after credit markets froze and deepened the recession, many companies are seeing signs of a bottom such as MMM (results helped by cost cutting; raised forecast for the year); VZ Verizon (pullback in business spending hurt results: plans 8,000 new job cuts); and XOM Exxonobil (results hurt by falling oil prices.) Related stoy at pB3 "Disney Sees Signs Economy Is Set To Get Off Ground - Disney's earnings dropped 26%, but the decline was less steep than in recent quarters as executives discerned signs of economic stability." Dis's earnings are reported at Inv Bus Daily pA2 and at USAToday p3B "Disney profit sinks on slow DVD sales." USA Today's "Markets Thursday" "Upbeat earningsreports propel stocks" mentions that buying of Dow shares started 7/13 after T AT&T, INTC Intel and CAT Caterpillar posted results that outran expecations. AJC makes a similar statement at pA19 "Dow looks for big July finish" noting that the Dow Jones Industrial average is a day away from locing in its best July in 20 years.
Dis's sale of its ABC radio business is mentioned in a WSJ pC3 item on Lazard banker John Chachas' possible Senate run for seat held by Nevada's Harry Reid. Dis's results are also reproted at AJCpA18 "Disney profit declines on lower revenue."
WSJ pC1 "Dow Gains 83.74 Ponts on Jobless Claims, GE" says the Dow's increase was led by a 7% surge in GE up 0.85 to 13.11 after Goldman Sachs analysts upgraded the conglomerate's shares to "buy" from "neutral" saying it appears less likely that GE will be forced to sever its GE Capital unit. Similar theme at WSJ pC5 "GE, Dow Chemical, Motorola Lead Rally" in "Large Stock Focus" column. Side bar of "The Good News . . ." charts GE. GE's results also reported at Inv Bus Daily pA7.
Front page story at WSJ pA3 "Bank Bonus Tab: $33 Billion - Nine Lenders That Got US Aid Paid at Least $1 million Each to 5,000 Employees" includes BofAm BA; BofA's Merrill Lynch, and JPM JPMorgan in the list. Same story on front page of NYT and front page of USA Today Money Section. USA Today pB1 reports that JPM JPMorgan was subpoenaed by a Senate panel seeking evidence of fraud from last year's mortgage crisis.
BAC BofA is mentioned in a story at WJC pC3 "In Banks' Profit Push, Era of Low Fees Is Over" where it says BofAm boosted its montly maintenance fee for its MyAccess checking account to $8.95 and also raised its fee for credit card balance transfer to 4%.
WSJ pB4 says PFE Pfizer will pay $75 million in a settlement of a lawsuit over a '96 clinical study in Africa as a result of their study of the drug Trovan that was conducted during Nigeria's worst meningitis epidemic. Lawsuits accused PFE of violating human rights standards by experimenting on children without their consent.
TRV Traveler's is not mentioned much but they are in a story at WSJ pC5 "Travelers' profit Sinks 21% . . ." that says TRV's 2Q profit fell 21% on lower revenue and higher claims closts. TRV, a commercial and personal insurance provider, still raised its full year earnings outlook to 4.80 to 5.05 a share from its earlier outlook of 4.55 to 4.95 a share. CEO Jay Fishman says TRV's performance reflected good underwriting and fixed income investment results as well as the continued impact of low short term investment yeilds and a small loss on its alternative investment portfolio. TRV replaced former parent Citigroup in the Dow Jones Industrial Average.
CAT Caterpillar, another Dow Jones 30 not often in the news, is the subject of a story at Fin Times p10 where its CEO, Jim Owens, is interviewed. James W. Ownes became CEO in '04 having started there in '72 as a PhD grad in economics. CAT is generally seen as a bellwether of the US and global industrial economy. Owens' first 3 years as CEO saw large growth in demand for CAT's products driven by the commodity boom and emerging markets. James Owens, 2 years ago, became on of the first US CEOs to warn of an economic downturn. CAT made its first quarterly loss for 17 ears and recently cut 26,000 jobs. James Ownes sits on Pres. Obama's Economic Recovery Advisory Baord.
WSJ pB4 says Sanofi-Aventis SA will buy out MRK Merck's share of their animal health joint venture, Merial Ltd. for $4bil (MRK's share was 50% of the venture).
WSJ pB5 "Ballmer Defends Yahoo Deal" saying investors have failed to appreciate the value a search deal MSFT struck with Yahoo. Similar theme at Fin Times p15 "Ballmer mounts defence of alliance" and same page "Partnership urged to take rapid action" and same page, a third story, "Venture to face regulatory scrutiny." Inv Bus Daily pA10 has an editorial "Hands Off Microsoft-Yahoo, Please" that says Congress and federal regulators should not put the MSFT Yahoo deal through the political meat grinder.
WSJ pB5 "FCC Eyes Rural Impact of Cellphone Tie-Ups" says FCC's inquiry into exclusive carrier deals on popular cell phones will focus on customers in rural areas who can't buy Apple's iPhone or Palm's Pre smart phone because the cariers don't serve their markets. T AT&T has a multiyear deal to offer the iPhone. VZ Verizon Wireless (jv of VZ and Vodafone) say exclusive handset deals prompt innovation by forcing competitors to forge their own agreements with manufacturers and come up with newer and fancier phones.
AJC pA18 has an item "Coke, CCE roll out new 2 liter contour bottles."
The following is a ranking of all Dow Jones Industrial Average 30 Companies based on the value of their outstanding shares as of close of the Dow on Thursday July 30, 2009 with the market value rounded to the nearest billion.
Rank/Dow Company Symbol & Name Value of Float in Billions # of Shares Outstanding
1. XOM Exxon Mobil $345 Billion 4,879,710,000
2. MSFT Microsfot $212 Billion 8,899,720,000
3. WMT Wal-Mart $195 Billion 3,896,618,000
4. JNJ Johnson & Jo $170 Billion 2,755,566,000
5. PG Procter & Gam $164 Billion 2,914,702,000
6. IBM $158 Billion 1,341,678,000
7. T AT&T $155 Billion 5,900,000,000
8. JPM JP Morgan Chas $145 Billion 3,759,160,000
9. GE $139 Billion 10,589,575,000
10. CVX Chevron $136 Billion 2,004,672,000
11. CSCO Cisco $127 Billion 5,767,881,000
12. KO Coke $115 Billion 2,314,998,000
13. INTC Intel $108 Billion 5,585,000,000
14. PFE Pfizer $108 Billion 6,747,979,000
15. HPQ Hewlett-Packa $102 Billion 2,386,262,000
16. VZ Verizon $92 Billion 2,840,574,000
17. BAC Bank of Ameri $89 Billion 6,402,966,000
18. MRK Merck $63 Billion 2,108,669,000
19. MCD McDonald's $61 Billion 1,103,243,000
20. UTX United Techn $51 Billion 941,273,000
21. DIS Walt Disney $49 Billion 1,856,752,000
22. MMM 3M $49 Billion 694,384,000
23. HD Home Depot $44 Billion 1,703,395,000
24. KFT Kraft $42 Billion 1,472,743,000
25. AXP American Exp. $33 Billion 1,167,625,000
26. BA Boeing $31 Billion 726,432,000
27. DD DuPont $28 Billion 903,608,000
28. CAT Caterpillar $26 Billion 601,752,000
29. TRV Travelers $25 Billion 585,430,000
30. AA Alcoa $11 Billion 974,276,000
THE FOLLOWING APPEARED IN THURSDAY AFTERNOON'S BLOG:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
The Dow closed Thursday at 9154.46 up 83.74 or 0.92% from Wednesday's close of 9070.72. Of the 30 Dow Companies: 25 gained, and 5 declined with the biggest loser being NYSE and the biggest gainer being NYSE.
Thursday's Dow closing numerator was 1211.31 up 11.08 from Wednesdays's Dow closing numerator of 1200.23. 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 numerator increase for today of 11.08 by the divisor you get 83.74, the increase in Thursday's Dow close.
The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones was 40.38 up 0.38 from Wednesday's average closing price of 40.00. The median closing price of Thurssday's Dow Jones was 35.39 up 0.52 from Wednesday's Dow Jones median closing price of 34.87.
The highest closing price Thursday was IBM $$117.86 +0.60 0.51% 6,745,050 NYSE and the lowest closing price Wednesday again was Alcoa AA $ $11.46 +0.45 4.09% 30,398,888 NYSE.
The lowest volume Thursday was MMM $69.94 +1.22 1.78% 3,876,285 NYSE and the highest volume was BAC BofAm $13.97 +0.45 3.33% 283,077,122 NYSE.
If Thursday 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 $1,140 ($121,140 - $120,000).
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $26.34 +0.39 1.5% 31,287,662 NYSE
AA $11.46 +0.45 4.09% 30,398,888 NYSE
AXP $28.23 +0.48 1.73% 13,796,273 NYSE
BAC $13.97 +0.45 3.33% 283,077,122 NYSE
BA $43.24 -0.13 0.3% 8,140,852 NYSE
CAT $43.41 +1.58 3.78% 14,886,918 NYSE
CVX $67.7 +0.58 0.86% 11,442,477 NYSE
CSCO $21.98 +0.26 1.2% 52,515,542 NASDAQ-GS
KO $49.67 +0.39 0.79% 9,684,262 NYSE
DIS $26.22 +0.33 1.27% 16,675,678 NYSE
DD $30.81 +1.27 4.3% 8,586,534 NYSE
XOM $70.72 -0.71 0.99% 37,598,142 NYSE
GE $13.11 +0.85 6.93% 168,336,203 NYSE
HPQ $42.71 +0.52 1.23% 18,935,992 NYSE
HD $25.85 +0.46 1.81% 13,457,919 NYSE
INTC $19.33 -0.07 0.36% 60,137,392 NASDAQ-GS
IBM $117.86 +0.60 0.51% 6,745,050 NYSE
JPM $38.47 +0.70 1.85% 37,639,684 NYSE
JNJ $61.79 +0.63 1.03% 12,585,558 NYSE
KFT $28.57 +0.03 0.11% 9,753,888 NYSE
MCD $55.59 -0.82 1.45% 13,783,218 NYSE
MRK $29.94 +0.07 0.23% 18,660,520 NYSE
MSFT $23.81 +0.01 0.04% 67,300,865 NASDAQ-GS
PFE $15.94 +0.19 1.21% 47,838,968 NYSE
PG $56.23 +0.11 0.2% 11,911,353 NYSE
MMM $69.94 +1.22 1.78% 3,876,285 NYSE
TRV $41.86 -0.77 1.81% 7,738,658 NYSE
UTX $54.12 +0.92 1.73% 6,853,332 NYSE
VZ $32.3 +0.32 1% 17,816,052 NYSE
WMT $50.+03 0.66 1.34% 16,232,786 NYSE
Here are the latest SEC filings as of 7/15/09 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
Thursday, July 30, 2009
7/30/09 Dow Closes at 9154.46 up 83.74 or 0.92%
Post #29 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Thursday at $28.23 +0.48 or 1.73% on volume of 13,796,273 NYSE.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
The Dow closed Thursday at 9154.46 up 83.74 or 0.92% from Wednesday's close of 9070.72. Of the 30 Dow Companies: 25 gained, and 5 declined with the biggest loser being NYSE and the biggest gainer being NYSE.
Thursday's Dow closing numerator was 1211.31 up 11.08 from Wednesdays's Dow closing numerator of 1200.23. 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 numerator increase for today of 11.08 by the divisor you get 83.74, the increase in Thursday's Dow close.
The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones was 40.38 up 0.38 from Wednesday's average closing price of 40.00. The median closing price of Thurssday's Dow Jones was 35.39 up 0.52 from Wednesday's Dow Jones median closing price of 34.87.
The highest closing price Thursday was IBM $$117.86 +0.60 0.51% 6,745,050 NYSE and the lowest closing price Wednesday again was Alcoa AA $ $11.46 +0.45 4.09% 30,398,888 NYSE.
The lowest volume Thursday was MMM $69.94 +1.22 1.78% 3,876,285 NYSE and the highest volume was BAC BofAm $13.97 +0.45 3.33% 283,077,122 NYSE.
If Thursday 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 $1,140 ($121,140 - $120,000).
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $26.34 +0.39 1.5% 31,287,662 NYSE
AA $11.46 +0.45 4.09% 30,398,888 NYSE
AXP $28.23 +0.48 1.73% 13,796,273 NYSE
BAC $13.97 +0.45 3.33% 283,077,122 NYSE
BA $43.24 -0.13 0.3% 8,140,852 NYSE
CAT $43.41 +1.58 3.78% 14,886,918 NYSE
CVX $67.7 +0.58 0.86% 11,442,477 NYSE
CSCO $21.98 +0.26 1.2% 52,515,542 NASDAQ-GS
KO $49.67 +0.39 0.79% 9,684,262 NYSE
DIS $26.22 +0.33 1.27% 16,675,678 NYSE
DD $30.81 +1.27 4.3% 8,586,534 NYSE
XOM $70.72 -0.71 0.99% 37,598,142 NYSE
GE $13.11 +0.85 6.93% 168,336,203 NYSE
HPQ $42.71 +0.52 1.23% 18,935,992 NYSE
HD $25.85 +0.46 1.81% 13,457,919 NYSE
INTC $19.33 -0.07 0.36% 60,137,392 NASDAQ-GS
IBM $117.86 +0.60 0.51% 6,745,050 NYSE
JPM $38.47 +0.70 1.85% 37,639,684 NYSE
JNJ $61.79 +0.63 1.03% 12,585,558 NYSE
KFT $28.57 +0.03 0.11% 9,753,888 NYSE
MCD $55.59 -0.82 1.45% 13,783,218 NYSE
MRK $29.94 +0.07 0.23% 18,660,520 NYSE
MSFT $23.81 +0.01 0.04% 67,300,865 NASDAQ-GS
PFE $15.94 +0.19 1.21% 47,838,968 NYSE
PG $56.23 +0.11 0.2% 11,911,353 NYSE
MMM $69.94 +1.22 1.78% 3,876,285 NYSE
TRV $41.86 -0.77 1.81% 7,738,658 NYSE
UTX $54.12 +0.92 1.73% 6,853,332 NYSE
VZ $32.3 +0.32 1% 17,816,052 NYSE
WMT $50.+03 0.66 1.34% 16,232,786 NYSE
THE FOLLOWING APPEARED IN THURSDAY MORNING'S BLOG:
A read of Thursday's 7/30/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ pB1 lead story in "Marketplace" "British Air Presses Boeing for Break - Airline Seeks to Renegotiate Payments for Dreamliner, Putting Funding Pressure on Plane Maker". British Airways PLC is pressing BA Boeing to renegotiate installment payments on 787 Dreamliners the airline has ordered. The airline's CEO Willie Walsh said he is seeking to delay cash payments that all airlines make to Boeing and its Eurpopean rival Airbus as new planes are being built. These predelivery payments can total tens of millions of dollars per aircraft because airlines pay about 1% of the plane's price at contract signing and over the new 24 month predleivery they pay another 30% of the price. [Note: Intellivest Securities Research, Inc. issued a Research Report on BA Boeing as a Buy on June 25, 2009 when BA's stock was $41.32. BA Boeing closed yesterday at 43.37.] At front page of Fin Times "British Airways cuts canapes in drive to save cash" that mentions other cost savings by the airline but doesn't mention Boeing.
WSJ pC1 in a story on the Dow says CVX Chevron was down 1.8% or 1.22 to 67.12 and was the biggest contributor to the decline in the price weighted Dow. Fin Times p24's story on the Dow also notes XOM Exxon Mobil lost 0.64% to 71.43, and MSFT rose 1.4% to 23.8. NYTimes story on the Dow pB8 notes MSFT's shares gain 1.4% to close at 23.80.
WSJ pB1 "IBM's Shift to Strategic Consulting Pays Off as Tech Slowdown Drags On" says that IBM CEO Samuel Palmisano, pictured in the story with Pres. Obama, has been busy going around the world promoting the use of technology to improve everything from roads and water systems to the environment and health care. The story says most of IBM's high tech rivals have problems noting MSFT reported its first full year sales decline and HPQ Hewlettt Packard posted declines in sales and earnings in May even after doubling down on traditional coputer services and outsourcing by buying EDS last year. It also says INTC Intel reported its first quarterly loss since the 1980's.
WSJ pB4 and AJC pA15 says Coca Cola Enterprises which is a third owned by KO Coke, posted a 2Q profit, reversing a year earlier loss caused by a $5.3 billion write down of its licensing assets and it raised its full year outlook. CCE is KO's largest bottler.
WSJ pA1 "Yahoo Tie-Up Is Latest Sign Tide Turnign fo Microsoft's Ballmer" is one of several articles in the WSJ about the newly announced deal. WSJ pB5 "Advertising" Column, "Microsoft, yahoo Tout Ad Alliance - Partners Court Madison Avenue, Promising More Copetition for Google" says that MSFT has beein trying to drup up support for its alliance with yahoo and damp antitrust concerns in Washington. Google captured about 70% of the $10.5 billion spent in the US last year on search ads - those that appear alongside Internet search results. Related story WSJ pA14 "The Microsoft-Yahoo Deal - For Bartz, Some Potential Pitfalls Arise - Web-Search Pact Frees Up Resources, but Yahoo CEO Faces Integration Risks; Yahoo Shares Plunge 12%" says under the new deal Yahoo will stop investing in 2 widely used technologies that it helped pioneer. Yahoo will sel search ads to large advertisers for both Yahoo and MSFT, taking calls from marketers such as VZ Verizon. A story just below that one is "Antitrust Scrutiny Will Grow" that says the proposed pact with Yahoo will likely face considerable scrutiny by federal antitrust regulators noting that Sen. Herb Kohl, Chair of the Senate Judiciary Antitrust Committee said the deal warrants "careful scrutinY' becaue it would compbine industry gians and direct competitors in Internet advertising and search markets. WSJ pC10 "Yahoo's Bartz Has Missed the Boat" says that Yahoo's CEO Carol Bartz did a crummy deal because it gives Yahoo no cash upfront and gives MSFT the right to control Yahoo's search business. Not related to the deal, Walter Mossberg's column pD1 discussed MSFT's new edition of Windows, called Windows 7.
Fin Times has a front page story above the line "Microsoft and Yahoo seal deal - Google dominance targeted - Search alliance draws fire." Related story Fin Times p14 "Microsoft takes a shot at main title" and another story same page "High hopes resting on Bing" and still another story same page "Bartz fails to bring in rich offer many expected."
The deal is front page of Inv Bus Daily "Yahoo Forges Long Awaited Microsoft Pact" and also pA5 "Microsoft Yahoo Search pact Raises Antitrust Issues" and another story "Web Ad Buyers Question Value of Yahoo Deal."
NYTimes lead story in "Business Day" pB1 "Linked Up. Now What? For Microsoft and Yahoo, a Deal And a Long Shot" and a related sotry at pB2 "Shades of AOL In a Search Deal."
USA Today's story at pB1 "Microsoft, Yahoo strike deal to share tech, ad revenue" with a related story about "Bold step for Yahoo's Bartz" at p3B.
WSJ pB9 "Technology" "Sprint's Woes Continue Despite Palm Pre Debut" says the primary beneficiaries of Sprint's struggle to keep subscribers who are willing to sign long term contracts are Verizon Wireless, jointly owned by VZ Verizon communications Inc. and Vodafone Group PLC and another competitor, T AT&T who sells the iPhone 3GS from Apple. Just below that article is "Qwest Boosts Profit As Revenue Declines" that says Qwest continues to spend on data and Internet services countering the downbeat comments issued by its larger rivals, VZ and T AT&T. Similar theme at NYTimes pB7 "Sprint Nextel Loss Widens as Subscribers Decline."
WSJ pC1 "Senate Probes Banks for Meltdown Fraud" mentions a Senate Subcommittee has issued a subpoena to Washington Mutual that is now largely owned by JPM JPMorgan.
WSJ pC3 has a story about Visa's Net jumping 73% and notes that AXP Amex which is both a lender and a processor saild last week tis 2Q earnings fell by nearly half because of rising delinquencies.
Here are the latest SEC filings as of 7/15/09 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
The Dow closed Thursday at 9154.46 up 83.74 or 0.92% from Wednesday's close of 9070.72. Of the 30 Dow Companies: 25 gained, and 5 declined with the biggest loser being NYSE and the biggest gainer being NYSE.
Thursday's Dow closing numerator was 1211.31 up 11.08 from Wednesdays's Dow closing numerator of 1200.23. 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 numerator increase for today of 11.08 by the divisor you get 83.74, the increase in Thursday's Dow close.
The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones was 40.38 up 0.38 from Wednesday's average closing price of 40.00. The median closing price of Thurssday's Dow Jones was 35.39 up 0.52 from Wednesday's Dow Jones median closing price of 34.87.
The highest closing price Thursday was IBM $$117.86 +0.60 0.51% 6,745,050 NYSE and the lowest closing price Wednesday again was Alcoa AA $ $11.46 +0.45 4.09% 30,398,888 NYSE.
The lowest volume Thursday was MMM $69.94 +1.22 1.78% 3,876,285 NYSE and the highest volume was BAC BofAm $13.97 +0.45 3.33% 283,077,122 NYSE.
If Thursday 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 $1,140 ($121,140 - $120,000).
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $26.34 +0.39 1.5% 31,287,662 NYSE
AA $11.46 +0.45 4.09% 30,398,888 NYSE
AXP $28.23 +0.48 1.73% 13,796,273 NYSE
BAC $13.97 +0.45 3.33% 283,077,122 NYSE
BA $43.24 -0.13 0.3% 8,140,852 NYSE
CAT $43.41 +1.58 3.78% 14,886,918 NYSE
CVX $67.7 +0.58 0.86% 11,442,477 NYSE
CSCO $21.98 +0.26 1.2% 52,515,542 NASDAQ-GS
KO $49.67 +0.39 0.79% 9,684,262 NYSE
DIS $26.22 +0.33 1.27% 16,675,678 NYSE
DD $30.81 +1.27 4.3% 8,586,534 NYSE
XOM $70.72 -0.71 0.99% 37,598,142 NYSE
GE $13.11 +0.85 6.93% 168,336,203 NYSE
HPQ $42.71 +0.52 1.23% 18,935,992 NYSE
HD $25.85 +0.46 1.81% 13,457,919 NYSE
INTC $19.33 -0.07 0.36% 60,137,392 NASDAQ-GS
IBM $117.86 +0.60 0.51% 6,745,050 NYSE
JPM $38.47 +0.70 1.85% 37,639,684 NYSE
JNJ $61.79 +0.63 1.03% 12,585,558 NYSE
KFT $28.57 +0.03 0.11% 9,753,888 NYSE
MCD $55.59 -0.82 1.45% 13,783,218 NYSE
MRK $29.94 +0.07 0.23% 18,660,520 NYSE
MSFT $23.81 +0.01 0.04% 67,300,865 NASDAQ-GS
PFE $15.94 +0.19 1.21% 47,838,968 NYSE
PG $56.23 +0.11 0.2% 11,911,353 NYSE
MMM $69.94 +1.22 1.78% 3,876,285 NYSE
TRV $41.86 -0.77 1.81% 7,738,658 NYSE
UTX $54.12 +0.92 1.73% 6,853,332 NYSE
VZ $32.3 +0.32 1% 17,816,052 NYSE
WMT $50.+03 0.66 1.34% 16,232,786 NYSE
THE FOLLOWING APPEARED IN THURSDAY MORNING'S BLOG:
A read of Thursday's 7/30/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ pB1 lead story in "Marketplace" "British Air Presses Boeing for Break - Airline Seeks to Renegotiate Payments for Dreamliner, Putting Funding Pressure on Plane Maker". British Airways PLC is pressing BA Boeing to renegotiate installment payments on 787 Dreamliners the airline has ordered. The airline's CEO Willie Walsh said he is seeking to delay cash payments that all airlines make to Boeing and its Eurpopean rival Airbus as new planes are being built. These predelivery payments can total tens of millions of dollars per aircraft because airlines pay about 1% of the plane's price at contract signing and over the new 24 month predleivery they pay another 30% of the price. [Note: Intellivest Securities Research, Inc. issued a Research Report on BA Boeing as a Buy on June 25, 2009 when BA's stock was $41.32. BA Boeing closed yesterday at 43.37.] At front page of Fin Times "British Airways cuts canapes in drive to save cash" that mentions other cost savings by the airline but doesn't mention Boeing.
WSJ pC1 in a story on the Dow says CVX Chevron was down 1.8% or 1.22 to 67.12 and was the biggest contributor to the decline in the price weighted Dow. Fin Times p24's story on the Dow also notes XOM Exxon Mobil lost 0.64% to 71.43, and MSFT rose 1.4% to 23.8. NYTimes story on the Dow pB8 notes MSFT's shares gain 1.4% to close at 23.80.
WSJ pB1 "IBM's Shift to Strategic Consulting Pays Off as Tech Slowdown Drags On" says that IBM CEO Samuel Palmisano, pictured in the story with Pres. Obama, has been busy going around the world promoting the use of technology to improve everything from roads and water systems to the environment and health care. The story says most of IBM's high tech rivals have problems noting MSFT reported its first full year sales decline and HPQ Hewlettt Packard posted declines in sales and earnings in May even after doubling down on traditional coputer services and outsourcing by buying EDS last year. It also says INTC Intel reported its first quarterly loss since the 1980's.
WSJ pB4 and AJC pA15 says Coca Cola Enterprises which is a third owned by KO Coke, posted a 2Q profit, reversing a year earlier loss caused by a $5.3 billion write down of its licensing assets and it raised its full year outlook. CCE is KO's largest bottler.
WSJ pA1 "Yahoo Tie-Up Is Latest Sign Tide Turnign fo Microsoft's Ballmer" is one of several articles in the WSJ about the newly announced deal. WSJ pB5 "Advertising" Column, "Microsoft, yahoo Tout Ad Alliance - Partners Court Madison Avenue, Promising More Copetition for Google" says that MSFT has beein trying to drup up support for its alliance with yahoo and damp antitrust concerns in Washington. Google captured about 70% of the $10.5 billion spent in the US last year on search ads - those that appear alongside Internet search results. Related story WSJ pA14 "The Microsoft-Yahoo Deal - For Bartz, Some Potential Pitfalls Arise - Web-Search Pact Frees Up Resources, but Yahoo CEO Faces Integration Risks; Yahoo Shares Plunge 12%" says under the new deal Yahoo will stop investing in 2 widely used technologies that it helped pioneer. Yahoo will sel search ads to large advertisers for both Yahoo and MSFT, taking calls from marketers such as VZ Verizon. A story just below that one is "Antitrust Scrutiny Will Grow" that says the proposed pact with Yahoo will likely face considerable scrutiny by federal antitrust regulators noting that Sen. Herb Kohl, Chair of the Senate Judiciary Antitrust Committee said the deal warrants "careful scrutinY' becaue it would compbine industry gians and direct competitors in Internet advertising and search markets. WSJ pC10 "Yahoo's Bartz Has Missed the Boat" says that Yahoo's CEO Carol Bartz did a crummy deal because it gives Yahoo no cash upfront and gives MSFT the right to control Yahoo's search business. Not related to the deal, Walter Mossberg's column pD1 discussed MSFT's new edition of Windows, called Windows 7.
Fin Times has a front page story above the line "Microsoft and Yahoo seal deal - Google dominance targeted - Search alliance draws fire." Related story Fin Times p14 "Microsoft takes a shot at main title" and another story same page "High hopes resting on Bing" and still another story same page "Bartz fails to bring in rich offer many expected."
The deal is front page of Inv Bus Daily "Yahoo Forges Long Awaited Microsoft Pact" and also pA5 "Microsoft Yahoo Search pact Raises Antitrust Issues" and another story "Web Ad Buyers Question Value of Yahoo Deal."
NYTimes lead story in "Business Day" pB1 "Linked Up. Now What? For Microsoft and Yahoo, a Deal And a Long Shot" and a related sotry at pB2 "Shades of AOL In a Search Deal."
USA Today's story at pB1 "Microsoft, Yahoo strike deal to share tech, ad revenue" with a related story about "Bold step for Yahoo's Bartz" at p3B.
WSJ pB9 "Technology" "Sprint's Woes Continue Despite Palm Pre Debut" says the primary beneficiaries of Sprint's struggle to keep subscribers who are willing to sign long term contracts are Verizon Wireless, jointly owned by VZ Verizon communications Inc. and Vodafone Group PLC and another competitor, T AT&T who sells the iPhone 3GS from Apple. Just below that article is "Qwest Boosts Profit As Revenue Declines" that says Qwest continues to spend on data and Internet services countering the downbeat comments issued by its larger rivals, VZ and T AT&T. Similar theme at NYTimes pB7 "Sprint Nextel Loss Widens as Subscribers Decline."
WSJ pC1 "Senate Probes Banks for Meltdown Fraud" mentions a Senate Subcommittee has issued a subpoena to Washington Mutual that is now largely owned by JPM JPMorgan.
WSJ pC3 has a story about Visa's Net jumping 73% and notes that AXP Amex which is both a lender and a processor saild last week tis 2Q earnings fell by nearly half because of rising delinquencies.
Here are the latest SEC filings as of 7/15/09 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
7/30/09 am Boeing Pressured to give British Air Discount
Post #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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Wednesday at $27.75 +0.07 0.25% on volume of 13,413,070 NYSE. Fin Times p24 today says AXP Amex's decline of 2.5% to 27.68 was "in the wake of a brokerage downgrade."
A read of Thursday's 7/30/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ pB1 lead story in "Marketplace" "British Air Presses Boeing for Break - Airline Seeks to Renegotiate Payments for Dreamliner, Putting Funding Pressure on Plane Maker". British Airways PLC is pressing BA Boeing to renegotiate installment payments on 787 Dreamliners the airline has ordered. The airline's CEO Willie Walsh said he is seeking to delay cash payments that all airlines make to Boeing and its Eurpopean rival Airbus as new planes are being built. These predelivery payments can total tens of millions of dollars per aircraft because airlines pay about 1% of the plane's price at contract signing and over the new 24 month predleivery they pay another 30% of the price. [Note: Intellivest Securities Research, Inc. issued a Research Report on BA Boeing as a Buy on June 25, 2009 when BA's stock was $41.32. BA Boeing closed yesterday at 43.37.] At front page of Fin Times "British Airways cuts canapes in drive to save cash" that mentions other cost savings by the airline but doesn't mention Boeing.
WSJ pC1 in a story on the Dow says CVX Chevron was down 1.8% or 1.22 to 67.12 and was the biggest contributor to the decline in the price weighted Dow. Fin Times p24's story on the Dow also notes XOM Exxon Mobil lost 0.64% to 71.43, and MSFT rose 1.4% to 23.8. NYTimes story on the Dow pB8 notes MSFT's shares gain 1.4% to close at 23.80.
WSJ pB1 "IBM's Shift to Strategic Consulting Pays Off as Tech Slowdown Drags On" says that IBM CEO Samuel Palmisano, pictured in the story with Pres. Obama, has been busy going around the world promoting the use of technology to improve everything from roads and water systems to the environment and health care. The story says most of IBM's high tech rivals have problems noting MSFT reported its first full year sales decline and HPQ Hewlettt Packard posted declines in sales and earnings in May even after doubling down on traditional coputer services and outsourcing by buying EDS last year. It also says INTC Intel reported its first quarterly loss since the 1980's.
WSJ pB4 and AJC pA15 says Coca Cola Enterprises which is a third owned by KO Coke, posted a 2Q profit, reversing a year earlier loss caused by a $5.3 billion write down of its licensing assets and it raised its full year outlook. CCE is KO's largest bottler.
WSJ pA1 "Yahoo Tie-Up Is Latest Sign Tide Turnign fo Microsoft's Ballmer" is one of several articles in the WSJ about the newly announced deal. WSJ pB5 "Advertising" Column, "Microsoft, yahoo Tout Ad Alliance - Partners Court Madison Avenue, Promising More Copetition for Google" says that MSFT has beein trying to drup up support for its alliance with yahoo and damp antitrust concerns in Washington. Google captured about 70% of the $10.5 billion spent in the US last year on search ads - those that appear alongside Internet search results. Related story WSJ pA14 "The Microsoft-Yahoo Deal - For Bartz, Some Potential Pitfalls Arise - Web-Search Pact Frees Up Resources, but Yahoo CEO Faces Integration Risks; Yahoo Shares Plunge 12%" says under the new deal Yahoo will stop investing in 2 widely used technologies that it helped pioneer. Yahoo will sel search ads to large advertisers for both Yahoo and MSFT, taking calls from marketers such as VZ Verizon. A story just below that one is "Antitrust Scrutiny Will Grow" that says the proposed pact with Yahoo will likely face considerable scrutiny by federal antitrust regulators noting that Sen. Herb Kohl, Chair of the Senate Judiciary Antitrust Committee said the deal warrants "careful scrutinY' becaue it would compbine industry gians and direct competitors in Internet advertising and search markets. WSJ pC10 "Yahoo's Bartz Has Missed the Boat" says that Yahoo's CEO Carol Bartz did a crummy deal because it gives Yahoo no cash upfront and gives MSFT the right to control Yahoo's search business. Not related to the deal, Walter Mossberg's column pD1 discussed MSFT's new edition of Windows, called Windows 7.
Fin Times has a front page story above the line "Microsoft and Yahoo seal deal - Google dominance targeted - Search alliance draws fire." Related story Fin Times p14 "Microsoft takes a shot at main title" and another story same page "High hopes resting on Bing" and still another story same page "Bartz fails to bring in rich offer many expected."
The deal is front page of Inv Bus Daily "Yahoo Forges Long Awaited Microsoft Pact" and also pA5 "Microsoft Yahoo Search pact Raises Antitrust Issues" and another story "Web Ad Buyers Question Value of Yahoo Deal."
NYTimes lead story in "Business Day" pB1 "Linked Up. Now What? For Microsoft and Yahoo, a Deal And a Long Shot" and a related sotry at pB2 "Shades of AOL In a Search Deal."
USA Today's story at pB1 "Microsoft, Yahoo strike deal to share tech, ad revenue" with a related story about "Bold step for Yahoo's Bartz" at p3B.
WSJ pB9 "Technology" "Sprint's Woes Continue Despite Palm Pre Debut" says the primary beneficiaries of Sprint's struggle to keep subscribers who are willing to sign long term contracts are Verizon Wireless, jointly owned by VZ Verizon communications Inc. and Vodafone Group PLC and another competitor, T AT&T who sells the iPhone 3GS from Apple. Just below that article is "Qwest Boosts Profit As Revenue Declines" that says Qwest continues to spend on data and Internet services countering the downbeat comments issued by its larger rivals, VZ and T AT&T. Similar theme at NYTimes pB7 "Sprint Nextel Loss Widens as Subscribers Decline."
WSJ pC1 "Senate Probes Banks for Meltdown Fraud" mentions a Senate Subcommittee has issued a subpoena to Washington Mutual that is now largely owned by JPM JPMorgan.
WSJ pC3 has a story about Visa's Net jumping 73% and notes that AXP Amex which is both a lender and a processor saild last week tis 2Q earnings fell by nearly half because of rising delinquencies.
THE FOLLOWING APPEARED IN WEDNESDAY AFTERNOON'S BLOG:
The Dow closed Wednesday at 9070.72 down 26 or 0.29% from Tuesday's close of 9044.72. Of the 30 Dow Companies: 13 gained, one was unchanged (HD Home Depot) and 16 declined with the biggest loser being CVX Chevron $67.12 -1.22 1.79% 10,618,964 NYSE and the biggest gainer being UTX United Technologies $53.2 +0.76 1.45% 4,784,793 NYSE.
Wednessday's Dow closing numerator was 1200.23 down 3.44 from Tuesdays's Dow closing numerator of 1203.67. 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 numerator decrease of 3.44 by the divisor you get 26, the decrease in Wednesday's Dow close.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.00 down 0.12 from Tuesday's average closing price of 40.12. The median closing price of Wednesday's Dow Jones was 34.87 down 5.62 from Tuesday's Dow Jones median closing price of 40.49.
The highest closing price Wednesday was IBM $117.26 -0.02 0.02% 5,035,157 NYSE and the lowest closing price Wednesday again was Alcoa AA $11.01 -0.25 2.22% 28,294,119 NYSE.
The lowest volume Wednesday was again TRV Travelers $42.63 -0.72 1.66% 3,898,786 NYSE and the highest volume was BAC BofAm $13.52 +0.18 1.35% 257,089,051 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 $360 ($120,360 - $120,000).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.95 +0.43 1.68% 26,802,258 NYSE
AA $11.01 -0.25 2.22% 28,294,119 NYSE
AXP $27.75 +0.07 0.25% 13,413,070 NYSE
BAC $13.52 +0.18 1.35% 257,089,051 NYSE
BA $43.37 +0.12 0.28% 5,010,590 NYSE
CAT $41.83 -1.07 2.49% 12,287,682 NYSE
CVX $67.12 -1.22 1.79% 10,618,964 NYSE
CSCO $21.72 -0.21 0.96% 33,307,772 NASDAQ-GS
KO $49.28 -0.11 0.22% 8,968,609 NYSE
DIS $25.89 -0.48 1.82% 11,648,055 NYSE
DD $29.54 -0.56 1.86% 6,753,535 NYSE
XOM $71.43 -0.46 0.64% 23,721,505 NYSE
GE $12.26 -0.26 2.08% 79,364,544 NYSE
HPQ $42.19 +0.21 0.5% 13,367,320 NYSE
HD $25.39 unch unch 11,888,755 NYSE
INTC $19.4 +0.03 0.15% 49,624,957 NASDAQ-GS
IBM $117.26 -0.02 0.02% 5,035,157 NYSE
JPM $37.77 -0.31 0.81% 29,790,962 NYSE
JNJ $61.16 +0.24 0.39% 10,390,527 NYSE
KFT $28.54 +0.07 0.25% 6,436,412 NYSE
MCD $56.41 -0.06 0.11% 7,927,605 NYSE
MRK $29.87 -0.15 0.5% 15,749,166 NYSE
MSFT $23.8 +0.33 1.41% 73,140,389 NASDAQ-GS
PFE $15.75 -0.28 1.75% 59,905,167 NYSE
PG $56.12 +0.41 0.74% 9,508,221 NYSE
MMM $68.72 -1.16 1.66% 4,629,195 NYSE
TRV $42.63 -0.72 1.66% 3,898,786 NYSE
UTX $53.2 +0.76 1.45% 4,784,793 NYSE
VZ $31.98 +0.58 1.85% 20,549,937 NYSE
WMT $49.37 +0.45 0.92% 16,496,154 NYSE
Here are the latest SEC filings as of 7/15/09 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
A read of Thursday's 7/30/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ pB1 lead story in "Marketplace" "British Air Presses Boeing for Break - Airline Seeks to Renegotiate Payments for Dreamliner, Putting Funding Pressure on Plane Maker". British Airways PLC is pressing BA Boeing to renegotiate installment payments on 787 Dreamliners the airline has ordered. The airline's CEO Willie Walsh said he is seeking to delay cash payments that all airlines make to Boeing and its Eurpopean rival Airbus as new planes are being built. These predelivery payments can total tens of millions of dollars per aircraft because airlines pay about 1% of the plane's price at contract signing and over the new 24 month predleivery they pay another 30% of the price. [Note: Intellivest Securities Research, Inc. issued a Research Report on BA Boeing as a Buy on June 25, 2009 when BA's stock was $41.32. BA Boeing closed yesterday at 43.37.] At front page of Fin Times "British Airways cuts canapes in drive to save cash" that mentions other cost savings by the airline but doesn't mention Boeing.
WSJ pC1 in a story on the Dow says CVX Chevron was down 1.8% or 1.22 to 67.12 and was the biggest contributor to the decline in the price weighted Dow. Fin Times p24's story on the Dow also notes XOM Exxon Mobil lost 0.64% to 71.43, and MSFT rose 1.4% to 23.8. NYTimes story on the Dow pB8 notes MSFT's shares gain 1.4% to close at 23.80.
WSJ pB1 "IBM's Shift to Strategic Consulting Pays Off as Tech Slowdown Drags On" says that IBM CEO Samuel Palmisano, pictured in the story with Pres. Obama, has been busy going around the world promoting the use of technology to improve everything from roads and water systems to the environment and health care. The story says most of IBM's high tech rivals have problems noting MSFT reported its first full year sales decline and HPQ Hewlettt Packard posted declines in sales and earnings in May even after doubling down on traditional coputer services and outsourcing by buying EDS last year. It also says INTC Intel reported its first quarterly loss since the 1980's.
WSJ pB4 and AJC pA15 says Coca Cola Enterprises which is a third owned by KO Coke, posted a 2Q profit, reversing a year earlier loss caused by a $5.3 billion write down of its licensing assets and it raised its full year outlook. CCE is KO's largest bottler.
WSJ pA1 "Yahoo Tie-Up Is Latest Sign Tide Turnign fo Microsoft's Ballmer" is one of several articles in the WSJ about the newly announced deal. WSJ pB5 "Advertising" Column, "Microsoft, yahoo Tout Ad Alliance - Partners Court Madison Avenue, Promising More Copetition for Google" says that MSFT has beein trying to drup up support for its alliance with yahoo and damp antitrust concerns in Washington. Google captured about 70% of the $10.5 billion spent in the US last year on search ads - those that appear alongside Internet search results. Related story WSJ pA14 "The Microsoft-Yahoo Deal - For Bartz, Some Potential Pitfalls Arise - Web-Search Pact Frees Up Resources, but Yahoo CEO Faces Integration Risks; Yahoo Shares Plunge 12%" says under the new deal Yahoo will stop investing in 2 widely used technologies that it helped pioneer. Yahoo will sel search ads to large advertisers for both Yahoo and MSFT, taking calls from marketers such as VZ Verizon. A story just below that one is "Antitrust Scrutiny Will Grow" that says the proposed pact with Yahoo will likely face considerable scrutiny by federal antitrust regulators noting that Sen. Herb Kohl, Chair of the Senate Judiciary Antitrust Committee said the deal warrants "careful scrutinY' becaue it would compbine industry gians and direct competitors in Internet advertising and search markets. WSJ pC10 "Yahoo's Bartz Has Missed the Boat" says that Yahoo's CEO Carol Bartz did a crummy deal because it gives Yahoo no cash upfront and gives MSFT the right to control Yahoo's search business. Not related to the deal, Walter Mossberg's column pD1 discussed MSFT's new edition of Windows, called Windows 7.
Fin Times has a front page story above the line "Microsoft and Yahoo seal deal - Google dominance targeted - Search alliance draws fire." Related story Fin Times p14 "Microsoft takes a shot at main title" and another story same page "High hopes resting on Bing" and still another story same page "Bartz fails to bring in rich offer many expected."
The deal is front page of Inv Bus Daily "Yahoo Forges Long Awaited Microsoft Pact" and also pA5 "Microsoft Yahoo Search pact Raises Antitrust Issues" and another story "Web Ad Buyers Question Value of Yahoo Deal."
NYTimes lead story in "Business Day" pB1 "Linked Up. Now What? For Microsoft and Yahoo, a Deal And a Long Shot" and a related sotry at pB2 "Shades of AOL In a Search Deal."
USA Today's story at pB1 "Microsoft, Yahoo strike deal to share tech, ad revenue" with a related story about "Bold step for Yahoo's Bartz" at p3B.
WSJ pB9 "Technology" "Sprint's Woes Continue Despite Palm Pre Debut" says the primary beneficiaries of Sprint's struggle to keep subscribers who are willing to sign long term contracts are Verizon Wireless, jointly owned by VZ Verizon communications Inc. and Vodafone Group PLC and another competitor, T AT&T who sells the iPhone 3GS from Apple. Just below that article is "Qwest Boosts Profit As Revenue Declines" that says Qwest continues to spend on data and Internet services countering the downbeat comments issued by its larger rivals, VZ and T AT&T. Similar theme at NYTimes pB7 "Sprint Nextel Loss Widens as Subscribers Decline."
WSJ pC1 "Senate Probes Banks for Meltdown Fraud" mentions a Senate Subcommittee has issued a subpoena to Washington Mutual that is now largely owned by JPM JPMorgan.
WSJ pC3 has a story about Visa's Net jumping 73% and notes that AXP Amex which is both a lender and a processor saild last week tis 2Q earnings fell by nearly half because of rising delinquencies.
THE FOLLOWING APPEARED IN WEDNESDAY AFTERNOON'S BLOG:
The Dow closed Wednesday at 9070.72 down 26 or 0.29% from Tuesday's close of 9044.72. Of the 30 Dow Companies: 13 gained, one was unchanged (HD Home Depot) and 16 declined with the biggest loser being CVX Chevron $67.12 -1.22 1.79% 10,618,964 NYSE and the biggest gainer being UTX United Technologies $53.2 +0.76 1.45% 4,784,793 NYSE.
Wednessday's Dow closing numerator was 1200.23 down 3.44 from Tuesdays's Dow closing numerator of 1203.67. 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 numerator decrease of 3.44 by the divisor you get 26, the decrease in Wednesday's Dow close.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.00 down 0.12 from Tuesday's average closing price of 40.12. The median closing price of Wednesday's Dow Jones was 34.87 down 5.62 from Tuesday's Dow Jones median closing price of 40.49.
The highest closing price Wednesday was IBM $117.26 -0.02 0.02% 5,035,157 NYSE and the lowest closing price Wednesday again was Alcoa AA $11.01 -0.25 2.22% 28,294,119 NYSE.
The lowest volume Wednesday was again TRV Travelers $42.63 -0.72 1.66% 3,898,786 NYSE and the highest volume was BAC BofAm $13.52 +0.18 1.35% 257,089,051 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 $360 ($120,360 - $120,000).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.95 +0.43 1.68% 26,802,258 NYSE
AA $11.01 -0.25 2.22% 28,294,119 NYSE
AXP $27.75 +0.07 0.25% 13,413,070 NYSE
BAC $13.52 +0.18 1.35% 257,089,051 NYSE
BA $43.37 +0.12 0.28% 5,010,590 NYSE
CAT $41.83 -1.07 2.49% 12,287,682 NYSE
CVX $67.12 -1.22 1.79% 10,618,964 NYSE
CSCO $21.72 -0.21 0.96% 33,307,772 NASDAQ-GS
KO $49.28 -0.11 0.22% 8,968,609 NYSE
DIS $25.89 -0.48 1.82% 11,648,055 NYSE
DD $29.54 -0.56 1.86% 6,753,535 NYSE
XOM $71.43 -0.46 0.64% 23,721,505 NYSE
GE $12.26 -0.26 2.08% 79,364,544 NYSE
HPQ $42.19 +0.21 0.5% 13,367,320 NYSE
HD $25.39 unch unch 11,888,755 NYSE
INTC $19.4 +0.03 0.15% 49,624,957 NASDAQ-GS
IBM $117.26 -0.02 0.02% 5,035,157 NYSE
JPM $37.77 -0.31 0.81% 29,790,962 NYSE
JNJ $61.16 +0.24 0.39% 10,390,527 NYSE
KFT $28.54 +0.07 0.25% 6,436,412 NYSE
MCD $56.41 -0.06 0.11% 7,927,605 NYSE
MRK $29.87 -0.15 0.5% 15,749,166 NYSE
MSFT $23.8 +0.33 1.41% 73,140,389 NASDAQ-GS
PFE $15.75 -0.28 1.75% 59,905,167 NYSE
PG $56.12 +0.41 0.74% 9,508,221 NYSE
MMM $68.72 -1.16 1.66% 4,629,195 NYSE
TRV $42.63 -0.72 1.66% 3,898,786 NYSE
UTX $53.2 +0.76 1.45% 4,784,793 NYSE
VZ $31.98 +0.58 1.85% 20,549,937 NYSE
WMT $49.37 +0.45 0.92% 16,496,154 NYSE
Here are the latest SEC filings as of 7/15/09 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
Wednesday, July 29, 2009
7/29/09 Dow Closes at 9070.72 -26 or 0.29%
Post #27 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Wednesday at $27.75 +0.07 0.25% on volume of 13,413,070 NYSE. Fin Times p24 today says AXP Amex's decline of 2.5% to 27.68 was "in the wake of a brokerage downgrade."
The Dow closed Wednesday at 9070.72 down 26 or 0.29% from Tuesday's close of 9044.72. Of the 30 Dow Companies: 13 gained, one was unchanged (HD Home Depot) and 16 declined with the biggest loser being CVX Chevron $67.12 -1.22 1.79% 10,618,964 NYSE and the biggest gainer being UTX United Technologies $53.2 +0.76 1.45% 4,784,793 NYSE.
Wednessday's Dow closing numerator was 1200.23 down 3.44 from Tuesdays's Dow closing numerator of 1203.67. 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 numerator decrease of 3.44 by the divisor you get 26, the decrease in Wednesday's Dow close.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.00 down 0.12 from Tuesday's average closing price of 40.12. The median closing price of Wednesday's Dow Jones was 34.87 down 5.62 from Tuesday's Dow Jones median closing price of 40.49.
The highest closing price Wednesday was IBM $117.26 -0.02 0.02% 5,035,157 NYSE and the lowest closing price Wednesday again was Alcoa AA $11.01 -0.25 2.22% 28,294,119 NYSE.
The lowest volume Wednesday was again TRV Travelers $42.63 -0.72 1.66% 3,898,786 NYSE and the highest volume was BAC BofAm $13.52 +0.18 1.35% 257,089,051 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 $360 ($120,360 - $120,000).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.95 +0.43 1.68% 26,802,258 NYSE
AA $11.01 -0.25 2.22% 28,294,119 NYSE
AXP $27.75 +0.07 0.25% 13,413,070 NYSE
BAC $13.52 +0.18 1.35% 257,089,051 NYSE
BA $43.37 +0.12 0.28% 5,010,590 NYSE
CAT $41.83 -1.07 2.49% 12,287,682 NYSE
CVX $67.12 -1.22 1.79% 10,618,964 NYSE
CSCO $21.72 -0.21 0.96% 33,307,772 NASDAQ-GS
KO $49.28 -0.11 0.22% 8,968,609 NYSE
DIS $25.89 -0.48 1.82% 11,648,055 NYSE
DD $29.54 -0.56 1.86% 6,753,535 NYSE
XOM $71.43 -0.46 0.64% 23,721,505 NYSE
GE $12.26 -0.26 2.08% 79,364,544 NYSE
HPQ $42.19 +0.21 0.5% 13,367,320 NYSE
HD $25.39 unch unch 11,888,755 NYSE
INTC $19.4 +0.03 0.15% 49,624,957 NASDAQ-GS
IBM $117.26 -0.02 0.02% 5,035,157 NYSE
JPM $37.77 -0.31 0.81% 29,790,962 NYSE
JNJ $61.16 +0.24 0.39% 10,390,527 NYSE
KFT $28.54 +0.07 0.25% 6,436,412 NYSE
MCD $56.41 -0.06 0.11% 7,927,605 NYSE
MRK $29.87 -0.15 0.5% 15,749,166 NYSE
MSFT $23.8 +0.33 1.41% 73,140,389 NASDAQ-GS
PFE $15.75 -0.28 1.75% 59,905,167 NYSE
PG $56.12 +0.41 0.74% 9,508,221 NYSE
MMM $68.72 -1.16 1.66% 4,629,195 NYSE
TRV $42.63 -0.72 1.66% 3,898,786 NYSE
UTX $53.2 +0.76 1.45% 4,784,793 NYSE
VZ $31.98 +0.58 1.85% 20,549,937 NYSE
WMT $49.37 +0.45 0.92% 16,496,154 NYSE
THE FOLLOWING APPEARED IN WEDNESDAY MORNING'S BLOG:
A read of Wednesday's 7/29/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ front page A2 "Microsoft, Yahoo Near Search Deal" says Yahoo and MSFT are close to sealing an Internet search partnership ending a protracted dance and uniting the rivals against Google. MSFT last year made a failed $47.5 billion akeover bid for Yahoo. With this deal, MSFT would final get huge volumes of queries that run through Yahoo's search engine. Yahoo would use MSFT's Bing search engine technology on its own sites. MSFT and Yahoo cmbined accounted for less than half of Google's 65% share of searches in the US market in June. MSFT handled 8.4% of searches in June and Yahoo accounted for around 20%.
WSJ pB4 "GE Says Efforts on Course to Shrink Finance Unit, Post Profit" says GE said it is on track to post a profit for the year with the help of tax breaks despite growing losses in Britsh mortgages and commercial real estate. GE said GECC won't need additional capital this year or next. GE said they project for GECC to report profit of $2 billion this year; for the first six months, GECC had profits of $1.1 billion. WSJ pC14 "Overhead" says GE Capital head Mike Neal gave an analyst call yesterday that was shorter than one in March that took more than 5 hours. Related story at Fin Times p15 "GE finance arm reassures its investors" and Inv Bus Daily pA2. NYT pB2 "No Breaks Needed for GE Capital" says GECC has $25 billion of receivables due from American consumers.
WSJ pB6 and AJC pA8 says IBM will acquire SPSS Inc. a Chicago based copany that makes software to help businesses spot future trends as well as shifts in consumer patterns and behavior for $1.2 billion. WSJ story says this month INTC Intel closed an $884 million acquisition of software maker Wind River Systems Inc. The IBM acquisition is also noted at WSJ pC5 "Small Stock Focus" and front page and pA4 of Inv. Bus. Daily, at NYT pB3, and USA Today p4B.
WSJ pC1 "Stocks Pause After Run Up as Oil Falls" says the Dow Jones Industrial Average slipped yesterday due to declines in XOM Exxon Mobil and CVX Chevron and similar theme at pC5 "Large Stock Focus" "Exxon, BP Decline; Aetna Bounces Back."
Similar theme at Fin Times p24 "Technology a bright spot as energy and utilities fall back" that notes the IBM acquisition of SPSS and also AXP Amex's decline of 2.5% to 27.68 in the wake of a brokerage downgrade. Story also notes a bright spot in the Dow was GE being up 1.6% to 12.52 because it said its finance unit doesn't need more capital. Similar theme at NYT pB7 "Wall St. Ends a Cautious Day Mixed" saying XOM Exxon Mobil led the markets lower as oil prices stumbled falling $1.15 to 67.23 a barrell.
WSJ pC5 "Options Report" "Traders Tinker With Pfizer, Merck to Lock in Gains" says option traders adjusted positions in PFE and MRK as shares in these issuers gave back some recent gains.
WSJ pC5 "Merrill, UBS Are Fined in Closed End Fund Case" says FINRA fined Merrill, now owned by BAC BofA and UBS AG a combined $250,000 for supervisory failures that led to unsuitable short term sales of closed end funds purchased at the funds' ipo's.
Fin Times p15 "BofA defends plan to close branches" says BAC plans to shrink its network of more than 6,100 retail branches in the US.
USA Today p1B "BofA paying Parmalat $100M over suits" says BAC will pay this amount to settle lawsuits surrounding the Italian dairy company's bankruptcy in '03. Lawsuit alleged that BAC knew of Parmalat's financial troubles while selling Parmalat's bonds.
JPM JPMorgan Chase will become the lead underwriter in a $550 Million offering by Vornado Realty Trust that would qualify for TALF funds per a story at WSJ pC6.
Inv Bus Daily pA5 "Qualcomm, Verizon in Machine to Machine wireless Venture" says Verizon Wireless, a venture of VZ Verizon communications and Vodafone has formed a joint venture with Qualcomm to offer m2m wireless services to companies in sectors such as health care, manufacturing and utilities. For example, a utility could remotely monitor power usage at homes without visiting them.
Inv Bus Daily "3M in Small Club of firms Raising Payout 50 Years" says MMM is only 7% off a 52 week high after recently finding support at its 50 day moving average. Story mentions PG procter & Gamble and MMM has only a few issuers that has raised its dividend for more than 50 straight years. In Feb, MMM nudged its quarerly payout from 0.50 per share to 0.51 yielding 2.9% without a payout ratio of 49% of estimated '09 earnings. IBM closed at 117.28.
Front page of NYTimes main section has a story "Wooing a Federal Agency with Billions to Invest" says JPM Morgan, Blackrock and Goldman were disqualified after winning a bid to manage $50 billion of retirement funds for Pension Guarantee Benfit Agency due to irregularities in the bidding process.
Finally, AJC pA7 "coke is it on NWA flights" says Nortwest is changing from Pepsi to KO Coke now that Delta has absorbed Northwest.
The Dow closed Wednesday at 9070.72 down 26 or 0.29% from Tuesday's close of 9044.72. Of the 30 Dow Companies: 13 gained, one was unchanged (HD Home Depot) and 16 declined with the biggest loser being CVX Chevron $67.12 -1.22 1.79% 10,618,964 NYSE and the biggest gainer being UTX United Technologies $53.2 +0.76 1.45% 4,784,793 NYSE.
Wednessday's Dow closing numerator was 1200.23 down 3.44 from Tuesdays's Dow closing numerator of 1203.67. 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 numerator decrease of 3.44 by the divisor you get 26, the decrease in Wednesday's Dow close.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.00 down 0.12 from Tuesday's average closing price of 40.12. The median closing price of Wednesday's Dow Jones was 34.87 down 5.62 from Tuesday's Dow Jones median closing price of 40.49.
The highest closing price Wednesday was IBM $117.26 -0.02 0.02% 5,035,157 NYSE and the lowest closing price Wednesday again was Alcoa AA $11.01 -0.25 2.22% 28,294,119 NYSE.
The lowest volume Wednesday was again TRV Travelers $42.63 -0.72 1.66% 3,898,786 NYSE and the highest volume was BAC BofAm $13.52 +0.18 1.35% 257,089,051 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 $360 ($120,360 - $120,000).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.95 +0.43 1.68% 26,802,258 NYSE
AA $11.01 -0.25 2.22% 28,294,119 NYSE
AXP $27.75 +0.07 0.25% 13,413,070 NYSE
BAC $13.52 +0.18 1.35% 257,089,051 NYSE
BA $43.37 +0.12 0.28% 5,010,590 NYSE
CAT $41.83 -1.07 2.49% 12,287,682 NYSE
CVX $67.12 -1.22 1.79% 10,618,964 NYSE
CSCO $21.72 -0.21 0.96% 33,307,772 NASDAQ-GS
KO $49.28 -0.11 0.22% 8,968,609 NYSE
DIS $25.89 -0.48 1.82% 11,648,055 NYSE
DD $29.54 -0.56 1.86% 6,753,535 NYSE
XOM $71.43 -0.46 0.64% 23,721,505 NYSE
GE $12.26 -0.26 2.08% 79,364,544 NYSE
HPQ $42.19 +0.21 0.5% 13,367,320 NYSE
HD $25.39 unch unch 11,888,755 NYSE
INTC $19.4 +0.03 0.15% 49,624,957 NASDAQ-GS
IBM $117.26 -0.02 0.02% 5,035,157 NYSE
JPM $37.77 -0.31 0.81% 29,790,962 NYSE
JNJ $61.16 +0.24 0.39% 10,390,527 NYSE
KFT $28.54 +0.07 0.25% 6,436,412 NYSE
MCD $56.41 -0.06 0.11% 7,927,605 NYSE
MRK $29.87 -0.15 0.5% 15,749,166 NYSE
MSFT $23.8 +0.33 1.41% 73,140,389 NASDAQ-GS
PFE $15.75 -0.28 1.75% 59,905,167 NYSE
PG $56.12 +0.41 0.74% 9,508,221 NYSE
MMM $68.72 -1.16 1.66% 4,629,195 NYSE
TRV $42.63 -0.72 1.66% 3,898,786 NYSE
UTX $53.2 +0.76 1.45% 4,784,793 NYSE
VZ $31.98 +0.58 1.85% 20,549,937 NYSE
WMT $49.37 +0.45 0.92% 16,496,154 NYSE
THE FOLLOWING APPEARED IN WEDNESDAY MORNING'S BLOG:
A read of Wednesday's 7/29/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ front page A2 "Microsoft, Yahoo Near Search Deal" says Yahoo and MSFT are close to sealing an Internet search partnership ending a protracted dance and uniting the rivals against Google. MSFT last year made a failed $47.5 billion akeover bid for Yahoo. With this deal, MSFT would final get huge volumes of queries that run through Yahoo's search engine. Yahoo would use MSFT's Bing search engine technology on its own sites. MSFT and Yahoo cmbined accounted for less than half of Google's 65% share of searches in the US market in June. MSFT handled 8.4% of searches in June and Yahoo accounted for around 20%.
WSJ pB4 "GE Says Efforts on Course to Shrink Finance Unit, Post Profit" says GE said it is on track to post a profit for the year with the help of tax breaks despite growing losses in Britsh mortgages and commercial real estate. GE said GECC won't need additional capital this year or next. GE said they project for GECC to report profit of $2 billion this year; for the first six months, GECC had profits of $1.1 billion. WSJ pC14 "Overhead" says GE Capital head Mike Neal gave an analyst call yesterday that was shorter than one in March that took more than 5 hours. Related story at Fin Times p15 "GE finance arm reassures its investors" and Inv Bus Daily pA2. NYT pB2 "No Breaks Needed for GE Capital" says GECC has $25 billion of receivables due from American consumers.
WSJ pB6 and AJC pA8 says IBM will acquire SPSS Inc. a Chicago based copany that makes software to help businesses spot future trends as well as shifts in consumer patterns and behavior for $1.2 billion. WSJ story says this month INTC Intel closed an $884 million acquisition of software maker Wind River Systems Inc. The IBM acquisition is also noted at WSJ pC5 "Small Stock Focus" and front page and pA4 of Inv. Bus. Daily, at NYT pB3, and USA Today p4B.
WSJ pC1 "Stocks Pause After Run Up as Oil Falls" says the Dow Jones Industrial Average slipped yesterday due to declines in XOM Exxon Mobil and CVX Chevron and similar theme at pC5 "Large Stock Focus" "Exxon, BP Decline; Aetna Bounces Back."
Similar theme at Fin Times p24 "Technology a bright spot as energy and utilities fall back" that notes the IBM acquisition of SPSS and also AXP Amex's decline of 2.5% to 27.68 in the wake of a brokerage downgrade. Story also notes a bright spot in the Dow was GE being up 1.6% to 12.52 because it said its finance unit doesn't need more capital. Similar theme at NYT pB7 "Wall St. Ends a Cautious Day Mixed" saying XOM Exxon Mobil led the markets lower as oil prices stumbled falling $1.15 to 67.23 a barrell.
WSJ pC5 "Options Report" "Traders Tinker With Pfizer, Merck to Lock in Gains" says option traders adjusted positions in PFE and MRK as shares in these issuers gave back some recent gains.
WSJ pC5 "Merrill, UBS Are Fined in Closed End Fund Case" says FINRA fined Merrill, now owned by BAC BofA and UBS AG a combined $250,000 for supervisory failures that led to unsuitable short term sales of closed end funds purchased at the funds' ipo's.
Fin Times p15 "BofA defends plan to close branches" says BAC plans to shrink its network of more than 6,100 retail branches in the US.
USA Today p1B "BofA paying Parmalat $100M over suits" says BAC will pay this amount to settle lawsuits surrounding the Italian dairy company's bankruptcy in '03. Lawsuit alleged that BAC knew of Parmalat's financial troubles while selling Parmalat's bonds.
JPM JPMorgan Chase will become the lead underwriter in a $550 Million offering by Vornado Realty Trust that would qualify for TALF funds per a story at WSJ pC6.
Inv Bus Daily pA5 "Qualcomm, Verizon in Machine to Machine wireless Venture" says Verizon Wireless, a venture of VZ Verizon communications and Vodafone has formed a joint venture with Qualcomm to offer m2m wireless services to companies in sectors such as health care, manufacturing and utilities. For example, a utility could remotely monitor power usage at homes without visiting them.
Inv Bus Daily "3M in Small Club of firms Raising Payout 50 Years" says MMM is only 7% off a 52 week high after recently finding support at its 50 day moving average. Story mentions PG procter & Gamble and MMM has only a few issuers that has raised its dividend for more than 50 straight years. In Feb, MMM nudged its quarerly payout from 0.50 per share to 0.51 yielding 2.9% without a payout ratio of 49% of estimated '09 earnings. IBM closed at 117.28.
Front page of NYTimes main section has a story "Wooing a Federal Agency with Billions to Invest" says JPM Morgan, Blackrock and Goldman were disqualified after winning a bid to manage $50 billion of retirement funds for Pension Guarantee Benfit Agency due to irregularities in the bidding process.
Finally, AJC pA7 "coke is it on NWA flights" says Nortwest is changing from Pepsi to KO Coke now that Delta has absorbed Northwest.
7/29/09 am MSFT and Yahoo Near Search Deal
Post #26 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Tuesday at $27.68 -0.70 or 2.47% on volume of 19,516,511 NYSE. Fin Times p24 today says AXP Amex's decline of 2.5% to 27.68 was "in the wake of a brokerage downgrade."
A read of Wednesday's 7/29/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ front page A2 "Microsoft, Yahoo Near Search Deal" says Yahoo and MSFT are close to sealing an Internet search partnership ending a protracted dance and uniting the rivals against Google. MSFT last year made a failed $47.5 billion akeover bid for Yahoo. With this deal, MSFT would final get huge volumes of queries that run through Yahoo's search engine. Yahoo would use MSFT's Bing search engine technology on its own sites. MSFT and Yahoo cmbined accounted for less than half of Google's 65% share of searches in the US market in June. MSFT handled 8.4% of searches in June and Yahoo accounted for around 20%.
WSJ pB4 "GE Says Efforts on Course to Shrink Finance Unit, Post Profit" says GE said it is on track to post a profit for the year with the help of tax breaks despite growing losses in Britsh mortgages and commercial real estate. GE said GECC won't need additional capital this year or next. GE said they project for GECC to report profit of $2 billion this year; for the first six months, GECC had profits of $1.1 billion. WSJ pC14 "Overhead" says GE Capital head Mike Neal gave an analyst call yesterday that was shorter than one in March that took more than 5 hours. Related story at Fin Times p15 "GE finance arm reassures its investors" and Inv Bus Daily pA2. NYT pB2 "No Breaks Needed for GE Capital" says GECC has $25 billion of receivables due from American consumers.
WSJ pB6 and AJC pA8 says IBM will acquire SPSS Inc. a Chicago based copany that makes software to help businesses spot future trends as well as shifts in consumer patterns and behavior for $1.2 billion. WSJ story says this month INTC Intel closed an $884 million acquisition of software maker Wind River Systems Inc. The IBM acquisition is also noted at WSJ pC5 "Small Stock Focus" and front page and pA4 of Inv. Bus. Daily, at NYT pB3, and USA Today p4B.
WSJ pC1 "Stocks Pause After Run Up as Oil Falls" says the Dow Jones Industrial Average slipped yesterday due to declines in XOM Exxon Mobil and CVX Chevron and similar theme at pC5 "Large Stock Focus" "Exxon, BP Decline; Aetna Bounces Back."
Similar theme at Fin Times p24 "Technology a bright spot as energy and utilities fall back" that notes the IBM acquisition of SPSS and also AXP Amex's decline of 2.5% to 27.68 in the wake of a brokerage downgrade. Story also notes a bright spot in the Dow was GE being up 1.6% to 12.52 because it said its finance unit doesn't need more capital. Similar theme at NYT pB7 "Wall St. Ends a Cautious Day Mixed" saying XOM Exxon Mobil led the markets lower as oil prices stumbled falling $1.15 to 67.23 a barrell.
WSJ pC5 "Options Report" "Traders Tinker With Pfizer, Merck to Lock in Gains" says option traders adjusted positions in PFE and MRK as shares in these issuers gave back some recent gains.
WSJ pC5 "Merrill, UBS Are Fined in Closed End Fund Case" says FINRA fined Merrill, now owned by BAC BofA and UBS AG a combined $250,000 for supervisory failures that led to unsuitable short term sales of closed end funds purchased at the funds' ipo's.
Fin Times p15 "BofA defends plan to close branches" says BAC plans to shrink its network of more than 6,100 retail branches in the US.
USA Today p1B "BofA paying Parmalat $100M over suits" says BAC will pay this amount to settle lawsuits surrounding the Italian dairy company's bankruptcy in '03. Lawsuit alleged that BAC knew of Parmalat's financial troubles while selling Parmalat's bonds.
JPM JPMorgan Chase will become the lead underwriter in a $550 Million offering by Vornado Realty Trust that would qualify for TALF funds per a story at WSJ pC6.
Inv Bus Daily pA5 "Qualcomm, Verizon in Machine to Machine wireless Venture" says Verizon Wireless, a venture of VZ Verizon communications and Vodafone has formed a joint venture with Qualcomm to offer m2m wireless services to companies in sectors such as health care, manufacturing and utilities. For example, a utility could remotely monitor power usage at homes without visiting them.
Inv Bus Daily "3M in Small Club of firms Raising Payout 50 Years" says MMM is only 7% off a 52 week high after recently finding support at its 50 day moving average. Story mentions PG procter & Gamble and MMM has only a few issuers that has raised its dividend for more than 50 straight years. In Feb, MMM nudged its quarerly payout from 0.50 per share to 0.51 yielding 2.9% without a payout ratio of 49% of estimated '09 earnings. IBM closed at 117.28.
Front page of NYTimes main section has a story "Wooing a Federal Agency with Billions to Invest" says JPM Morgan, Blackrock and Goldman were disqualified after winning a bid to manage $50 billion of retirement funds for Pension Guarantee Benfit Agency due to irregularities in the bidding process.
Finally, AJC pA7 "coke is it on NWA flights" says Nortwest is changing from Pepsi to KO Coke now that Delta has absorbed Northwest.
THE FOLLOWING APPEARED IN TUESDAY AFTERNOON'S BLOG:
Tuesday's Dow closing numerator was 1203.67 down 1.56 from Mondays's Dow closing numerator of 1205.23. 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 numerator decrease of 1.56 by the divisor you get 11.79, the decrease in Tuesday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.12 down .05 from Monday's average closing price of 40.17. The median closing price of Tuesday's Dow Jones was 40.49 up 6.04 from Monday's Dow Jones median closing price of 34.45.
The highest closing price Tuesday was IBM $117.28 -0.35 0.3% 5,747,369 NYSE and the lowest closing price Tuesday again was Alcoa AA $11.26 -0.04 0.35% 32,274,587 NYSE.
The lowest volume Tuesday was again TRV Travelers $43.35 -0.19 0.44% 3,305,278 NYSE and the highest volume was BAC BofAm $13.34 +0.25 1.91% 240,783,873 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 $150 ($120,510 - $120,360).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.52 -0.21 0.82% 24,556,906 NYSE
AA $11.26 -0.04 0.35% 32,274,587 NYSE
AXP $27.68 -0.70 2.47% 19,516,511 NYSE
BAC $13.34 +0.25 1.91% 240,783,873 NYSE
BA $43.25 +1.01 2.39% 7,830,640 NYSE
CAT $42.9 +0.04 0.09% 16,692,615 NYSE
CVX $68.34 -0.51 0.74% 10,768,638 NYSE
CSCO $21.93 +0.09 0.41% 39,981,298 NASDAQ-GS
KO $49.39 -0.13 0.26% 8,039,133 NYSE
DIS $26.37 -0.08 0.3% 10,791,425 NYSE
DD $30.1 -0.26 0.86% 8,731,556 NYSE
XOM $71.89 -0.86 1.18% 22,999,164 NYSE
GE $12.52 +0.20 1.62% 105,449,604 NYSE
HPQ $41.98 +0.14 0.33% 11,604,479 NYSE
HD $25.39 +0.23 0.91% 11,669,821 NYSE
INTC $19.37 -0.10 0.51% 59,987,096 NASDAQ-GS
IBM $117.28 -0.35 0.3% 5,747,369 NYSE
JPM $38.08 -0.05 0.13% 28,993,257 NYSE
JNJ $60.92 -0.35 0.57% 8,994,013 NYSE
KFT $28.47 +0.21 0.74% 7,221,452 NYSE
MCD $56.47 +0.50 0.89% 8,722,862 NYSE
MRK $30.02 -0.75 2.44% 22,543,752 NYSE
MSFT $23.47 +0.36 1.56% 70,226,438 NASDAQ-GS
PFE $16.03 -0.59 3.55% 75,239,509 NYSE
PG $55.71 -0.07 0.13% 8,137,074 NYSE
MMM $69.88 -0.03 0.04% 4,391,745 NYSE
TRV $43.35 -0.19 0.44% 3,305,278 NYSE
UTX $52.44 +0.33 0.63% 5,224,779 NYSE
VZ $31.4 +0.40 1.29% 16,819,492 NYSE
WMT $48.92 -0.05 0.1% 11,801,535 NYSE
A read of Wednesday's 7/29/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
WSJ front page A2 "Microsoft, Yahoo Near Search Deal" says Yahoo and MSFT are close to sealing an Internet search partnership ending a protracted dance and uniting the rivals against Google. MSFT last year made a failed $47.5 billion akeover bid for Yahoo. With this deal, MSFT would final get huge volumes of queries that run through Yahoo's search engine. Yahoo would use MSFT's Bing search engine technology on its own sites. MSFT and Yahoo cmbined accounted for less than half of Google's 65% share of searches in the US market in June. MSFT handled 8.4% of searches in June and Yahoo accounted for around 20%.
WSJ pB4 "GE Says Efforts on Course to Shrink Finance Unit, Post Profit" says GE said it is on track to post a profit for the year with the help of tax breaks despite growing losses in Britsh mortgages and commercial real estate. GE said GECC won't need additional capital this year or next. GE said they project for GECC to report profit of $2 billion this year; for the first six months, GECC had profits of $1.1 billion. WSJ pC14 "Overhead" says GE Capital head Mike Neal gave an analyst call yesterday that was shorter than one in March that took more than 5 hours. Related story at Fin Times p15 "GE finance arm reassures its investors" and Inv Bus Daily pA2. NYT pB2 "No Breaks Needed for GE Capital" says GECC has $25 billion of receivables due from American consumers.
WSJ pB6 and AJC pA8 says IBM will acquire SPSS Inc. a Chicago based copany that makes software to help businesses spot future trends as well as shifts in consumer patterns and behavior for $1.2 billion. WSJ story says this month INTC Intel closed an $884 million acquisition of software maker Wind River Systems Inc. The IBM acquisition is also noted at WSJ pC5 "Small Stock Focus" and front page and pA4 of Inv. Bus. Daily, at NYT pB3, and USA Today p4B.
WSJ pC1 "Stocks Pause After Run Up as Oil Falls" says the Dow Jones Industrial Average slipped yesterday due to declines in XOM Exxon Mobil and CVX Chevron and similar theme at pC5 "Large Stock Focus" "Exxon, BP Decline; Aetna Bounces Back."
Similar theme at Fin Times p24 "Technology a bright spot as energy and utilities fall back" that notes the IBM acquisition of SPSS and also AXP Amex's decline of 2.5% to 27.68 in the wake of a brokerage downgrade. Story also notes a bright spot in the Dow was GE being up 1.6% to 12.52 because it said its finance unit doesn't need more capital. Similar theme at NYT pB7 "Wall St. Ends a Cautious Day Mixed" saying XOM Exxon Mobil led the markets lower as oil prices stumbled falling $1.15 to 67.23 a barrell.
WSJ pC5 "Options Report" "Traders Tinker With Pfizer, Merck to Lock in Gains" says option traders adjusted positions in PFE and MRK as shares in these issuers gave back some recent gains.
WSJ pC5 "Merrill, UBS Are Fined in Closed End Fund Case" says FINRA fined Merrill, now owned by BAC BofA and UBS AG a combined $250,000 for supervisory failures that led to unsuitable short term sales of closed end funds purchased at the funds' ipo's.
Fin Times p15 "BofA defends plan to close branches" says BAC plans to shrink its network of more than 6,100 retail branches in the US.
USA Today p1B "BofA paying Parmalat $100M over suits" says BAC will pay this amount to settle lawsuits surrounding the Italian dairy company's bankruptcy in '03. Lawsuit alleged that BAC knew of Parmalat's financial troubles while selling Parmalat's bonds.
JPM JPMorgan Chase will become the lead underwriter in a $550 Million offering by Vornado Realty Trust that would qualify for TALF funds per a story at WSJ pC6.
Inv Bus Daily pA5 "Qualcomm, Verizon in Machine to Machine wireless Venture" says Verizon Wireless, a venture of VZ Verizon communications and Vodafone has formed a joint venture with Qualcomm to offer m2m wireless services to companies in sectors such as health care, manufacturing and utilities. For example, a utility could remotely monitor power usage at homes without visiting them.
Inv Bus Daily "3M in Small Club of firms Raising Payout 50 Years" says MMM is only 7% off a 52 week high after recently finding support at its 50 day moving average. Story mentions PG procter & Gamble and MMM has only a few issuers that has raised its dividend for more than 50 straight years. In Feb, MMM nudged its quarerly payout from 0.50 per share to 0.51 yielding 2.9% without a payout ratio of 49% of estimated '09 earnings. IBM closed at 117.28.
Front page of NYTimes main section has a story "Wooing a Federal Agency with Billions to Invest" says JPM Morgan, Blackrock and Goldman were disqualified after winning a bid to manage $50 billion of retirement funds for Pension Guarantee Benfit Agency due to irregularities in the bidding process.
Finally, AJC pA7 "coke is it on NWA flights" says Nortwest is changing from Pepsi to KO Coke now that Delta has absorbed Northwest.
THE FOLLOWING APPEARED IN TUESDAY AFTERNOON'S BLOG:
Tuesday's Dow closing numerator was 1203.67 down 1.56 from Mondays's Dow closing numerator of 1205.23. 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 numerator decrease of 1.56 by the divisor you get 11.79, the decrease in Tuesday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.12 down .05 from Monday's average closing price of 40.17. The median closing price of Tuesday's Dow Jones was 40.49 up 6.04 from Monday's Dow Jones median closing price of 34.45.
The highest closing price Tuesday was IBM $117.28 -0.35 0.3% 5,747,369 NYSE and the lowest closing price Tuesday again was Alcoa AA $11.26 -0.04 0.35% 32,274,587 NYSE.
The lowest volume Tuesday was again TRV Travelers $43.35 -0.19 0.44% 3,305,278 NYSE and the highest volume was BAC BofAm $13.34 +0.25 1.91% 240,783,873 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 $150 ($120,510 - $120,360).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.52 -0.21 0.82% 24,556,906 NYSE
AA $11.26 -0.04 0.35% 32,274,587 NYSE
AXP $27.68 -0.70 2.47% 19,516,511 NYSE
BAC $13.34 +0.25 1.91% 240,783,873 NYSE
BA $43.25 +1.01 2.39% 7,830,640 NYSE
CAT $42.9 +0.04 0.09% 16,692,615 NYSE
CVX $68.34 -0.51 0.74% 10,768,638 NYSE
CSCO $21.93 +0.09 0.41% 39,981,298 NASDAQ-GS
KO $49.39 -0.13 0.26% 8,039,133 NYSE
DIS $26.37 -0.08 0.3% 10,791,425 NYSE
DD $30.1 -0.26 0.86% 8,731,556 NYSE
XOM $71.89 -0.86 1.18% 22,999,164 NYSE
GE $12.52 +0.20 1.62% 105,449,604 NYSE
HPQ $41.98 +0.14 0.33% 11,604,479 NYSE
HD $25.39 +0.23 0.91% 11,669,821 NYSE
INTC $19.37 -0.10 0.51% 59,987,096 NASDAQ-GS
IBM $117.28 -0.35 0.3% 5,747,369 NYSE
JPM $38.08 -0.05 0.13% 28,993,257 NYSE
JNJ $60.92 -0.35 0.57% 8,994,013 NYSE
KFT $28.47 +0.21 0.74% 7,221,452 NYSE
MCD $56.47 +0.50 0.89% 8,722,862 NYSE
MRK $30.02 -0.75 2.44% 22,543,752 NYSE
MSFT $23.47 +0.36 1.56% 70,226,438 NASDAQ-GS
PFE $16.03 -0.59 3.55% 75,239,509 NYSE
PG $55.71 -0.07 0.13% 8,137,074 NYSE
MMM $69.88 -0.03 0.04% 4,391,745 NYSE
TRV $43.35 -0.19 0.44% 3,305,278 NYSE
UTX $52.44 +0.33 0.63% 5,224,779 NYSE
VZ $31.4 +0.40 1.29% 16,819,492 NYSE
WMT $48.92 -0.05 0.1% 11,801,535 NYSE
Tuesday, July 28, 2009
7/28/09 pm Dow Closes at 9096.72 down 11.79 or 0.13%
Post #25 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP closed Tuesday at $27.68 -0.70 or 2.47% on volume of 19,516,511 NYSE.
The Dow closed Monday at 9096.72 down 11.79 or 0.13% from Monday's close of 9108.51. Of the 30 Dow Companies: 12 gained and 18 declined with the biggest gainer being BA Boeing $43.25 +1.01 2.39% 7,830,640 NYSE and the biggest loser being XOM ExxonMobil AXP Amex $71.89 -0.86 1.18% 22,999,164 NYSE.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Tuesday's Dow closing numerator was 1203.67 down 1.56 from Mondays's Dow closing numerator of 1205.23. 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 numerator decrease of 1.56 by the divisor you get 11.79, the decrease in Tuesday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.12 down .05 from Monday's average closing price of 40.17. The median closing price of Tuesday's Dow Jones was 40.49 up 6.04 from Monday's Dow Jones median closing price of 34.45.
The highest closing price Tuesday was IBM $117.28 -0.35 0.3% 5,747,369 NYSE and the lowest closing price Tuesday again was Alcoa AA $11.26 -0.04 0.35% 32,274,587 NYSE.
The lowest volume Tuesday was again TRV Travelers $43.35 -0.19 0.44% 3,305,278 NYSE and the highest volume was BAC BofAm $13.34 +0.25 1.91% 240,783,873 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 $150 ($120,510 - $120,360).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.52 -0.21 0.82% 24,556,906 NYSE
AA $11.26 -0.04 0.35% 32,274,587 NYSE
AXP $27.68 -0.70 2.47% 19,516,511 NYSE
BAC $13.34 +0.25 1.91% 240,783,873 NYSE
BA $43.25 +1.01 2.39% 7,830,640 NYSE
CAT $42.9 +0.04 0.09% 16,692,615 NYSE
CVX $68.34 -0.51 0.74% 10,768,638 NYSE
CSCO $21.93 +0.09 0.41% 39,981,298 NASDAQ-GS
KO $49.39 -0.13 0.26% 8,039,133 NYSE
DIS $26.37 -0.08 0.3% 10,791,425 NYSE
DD $30.1 -0.26 0.86% 8,731,556 NYSE
XOM $71.89 -0.86 1.18% 22,999,164 NYSE
GE $12.52 +0.20 1.62% 105,449,604 NYSE
HPQ $41.98 +0.14 0.33% 11,604,479 NYSE
HD $25.39 +0.23 0.91% 11,669,821 NYSE
INTC $19.37 -0.10 0.51% 59,987,096 NASDAQ-GS
IBM $117.28 -0.35 0.3% 5,747,369 NYSE
JPM $38.08 -0.05 0.13% 28,993,257 NYSE
JNJ $60.92 -0.35 0.57% 8,994,013 NYSE
KFT $28.47 +0.21 0.74% 7,221,452 NYSE
MCD $56.47 +0.50 0.89% 8,722,862 NYSE
MRK $30.02 -0.75 2.44% 22,543,752 NYSE
MSFT $23.47 +0.36 1.56% 70,226,438 NASDAQ-GS
PFE $16.03 -0.59 3.55% 75,239,509 NYSE
PG $55.71 -0.07 0.13% 8,137,074 NYSE
MMM $69.88 -0.03 0.04% 4,391,745 NYSE
TRV $43.35 -0.19 0.44% 3,305,278 NYSE
UTX $52.44 +0.33 0.63% 5,224,779 NYSE
VZ $31.4 +0.40 1.29% 16,819,492 NYSE
WMT $48.92 -0.05 0.1% 11,801,535 NYSE
THE FOLLOWING APPEARED IN THIS MORNING'S BLOG:
A read of Monday's 7/27/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
VZ Verizon's 2Q profits fell 21% after cost cuting efforts failed to keep pace with falling revenue. VZ will be slashing more than 8,000 employee and contractor jobs. VZ earned $1.48 billion or 0.52 per share down from $1.88 bill or 0.66 a year earlier per AJC pA7 and WSJ pB1 where it compares VZ's layoff of 3% of its workforce with AT&T's 12,000 laid off employees that equals 4% of its work force. VZ closed at 31 down 0.50 Monday. Similar theme at pB3 NYTimes; at page 1, front page of Fin Times and front page of Fin Times "Companies & Markets" p11 with a story "Verizon to axe 8,000 more jobs - Drive to cut costs and boost sagging margins" & also Fin Time sp0 in "Wall Street" column. Inv Bus Daily's story at pA4: "Verizon's Q2 Profit Declines But Beats Views By A Penney - Rival AT&T iPhone Took Users - Verizon Wireless looking forward to new BlackBerry, Motorola Android handsets" and says VZ ended the quarter with 87.7 million custoemrs, ahed of No,. 2 T AT&T's 79.6 milllion customers.
WSJ lead story "Marketplace" pB1 says Ben Silverman, co-chairman of GE's NBC Entertainment and Universal Media Stuidios is leaving NBC to join a venture with Barry Diller's IAC/InterActive Corp. This is alos lead story in NYTimes "Business Day" at B1 that says he will be succeeded by Jeff Gaspin who now oversees NBC's cable channels. WSJ pC1 "Ahead of the Tape" has a story "Propsoed Overhaul Puts a New Spin On GE" that says GE's finance unit has benefitted from gov. support but there is concern that it could come with a price: new regulations that would put tighter oversight over GE Capital that has assets of $651 billion. Similar story at Fin Times p14 "Silverman quits NBC after two years." USA p3B "Programming exec leaves NBC Universal - Network struggles to keep up" says Silverman's leaving prime time's No. 4 network to launch an Internet production firm.
WSJ pC6 "Large Stock Focus" has a story "Verizon Slides 1.6%; BofA, Regions Gain" and under "Stocks in the News" under "...And the Bad News" VZ is charted because a drop in global enterprise revenue sent "a worrisome signal." NYTimes pB8 "Stocks & Bonds" column cites BofA, VZ, and JPM.
WSJ pA3 "US Effort to Modify Mortgages Falters" says an Obama administration effort to reduce home foreclosures by lowering the morgage payments of struggling borrowers isn't working. It says BAC BofAm is only this month beginning to implement the program and JPM JPMorgan said the process takes more time for each applicant than they had thought in an anecdote about a home owner not having a good experience.
Lead story WSJ pC1 "Money & Investing" is "BofA Plans to Cut 10% of Branches - CEO Tells Investors of Pullback; a Break From Two Decades of Growth" says CEO Kenneth Lewis said he is going to shrink BAC's 6,100 branch network by about 10%. Story says BAC holds 12.2% of all US deposits followed by Wells Fargo and JPM JPMorgan Chase.
WSJ pC1 "Late Push, Financials Lift Dow 15.27 Points" credits a 4.6% in BAC Bofam but notes the Dow was held back by VZ's 1.6% drop.
Inv Business Daily pA2 "Rising costs seen hurting Boeing" says BA was downgraded to equal weight by Barclays, which cited significant but as yet undertermined cost overruns in BA's 787 Dreamliner project. BA may have to take a charge against earnings on much of its $100 billion plus 787 backlog. BA closed 42.24 down 0.3%.
Inv Bus Daily's charts at pA9 says IBM "blasted above a 110.74 buy point from a yearlong cup-with-handle base."
Inv Bus Daily pB3 has a story about Carter's a seller of clothes and says it sell through WMT WalMart among others.
The Dow closed Monday at 9096.72 down 11.79 or 0.13% from Monday's close of 9108.51. Of the 30 Dow Companies: 12 gained and 18 declined with the biggest gainer being BA Boeing $43.25 +1.01 2.39% 7,830,640 NYSE and the biggest loser being XOM ExxonMobil AXP Amex $71.89 -0.86 1.18% 22,999,164 NYSE.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Tuesday's Dow closing numerator was 1203.67 down 1.56 from Mondays's Dow closing numerator of 1205.23. 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 numerator decrease of 1.56 by the divisor you get 11.79, the decrease in Tuesday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones was 40.12 down .05 from Monday's average closing price of 40.17. The median closing price of Tuesday's Dow Jones was 40.49 up 6.04 from Monday's Dow Jones median closing price of 34.45.
The highest closing price Tuesday was IBM $117.28 -0.35 0.3% 5,747,369 NYSE and the lowest closing price Tuesday again was Alcoa AA $11.26 -0.04 0.35% 32,274,587 NYSE.
The lowest volume Tuesday was again TRV Travelers $43.35 -0.19 0.44% 3,305,278 NYSE and the highest volume was BAC BofAm $13.34 +0.25 1.91% 240,783,873 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 $150 ($120,510 - $120,360).
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.52 -0.21 0.82% 24,556,906 NYSE
AA $11.26 -0.04 0.35% 32,274,587 NYSE
AXP $27.68 -0.70 2.47% 19,516,511 NYSE
BAC $13.34 +0.25 1.91% 240,783,873 NYSE
BA $43.25 +1.01 2.39% 7,830,640 NYSE
CAT $42.9 +0.04 0.09% 16,692,615 NYSE
CVX $68.34 -0.51 0.74% 10,768,638 NYSE
CSCO $21.93 +0.09 0.41% 39,981,298 NASDAQ-GS
KO $49.39 -0.13 0.26% 8,039,133 NYSE
DIS $26.37 -0.08 0.3% 10,791,425 NYSE
DD $30.1 -0.26 0.86% 8,731,556 NYSE
XOM $71.89 -0.86 1.18% 22,999,164 NYSE
GE $12.52 +0.20 1.62% 105,449,604 NYSE
HPQ $41.98 +0.14 0.33% 11,604,479 NYSE
HD $25.39 +0.23 0.91% 11,669,821 NYSE
INTC $19.37 -0.10 0.51% 59,987,096 NASDAQ-GS
IBM $117.28 -0.35 0.3% 5,747,369 NYSE
JPM $38.08 -0.05 0.13% 28,993,257 NYSE
JNJ $60.92 -0.35 0.57% 8,994,013 NYSE
KFT $28.47 +0.21 0.74% 7,221,452 NYSE
MCD $56.47 +0.50 0.89% 8,722,862 NYSE
MRK $30.02 -0.75 2.44% 22,543,752 NYSE
MSFT $23.47 +0.36 1.56% 70,226,438 NASDAQ-GS
PFE $16.03 -0.59 3.55% 75,239,509 NYSE
PG $55.71 -0.07 0.13% 8,137,074 NYSE
MMM $69.88 -0.03 0.04% 4,391,745 NYSE
TRV $43.35 -0.19 0.44% 3,305,278 NYSE
UTX $52.44 +0.33 0.63% 5,224,779 NYSE
VZ $31.4 +0.40 1.29% 16,819,492 NYSE
WMT $48.92 -0.05 0.1% 11,801,535 NYSE
THE FOLLOWING APPEARED IN THIS MORNING'S BLOG:
A read of Monday's 7/27/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
VZ Verizon's 2Q profits fell 21% after cost cuting efforts failed to keep pace with falling revenue. VZ will be slashing more than 8,000 employee and contractor jobs. VZ earned $1.48 billion or 0.52 per share down from $1.88 bill or 0.66 a year earlier per AJC pA7 and WSJ pB1 where it compares VZ's layoff of 3% of its workforce with AT&T's 12,000 laid off employees that equals 4% of its work force. VZ closed at 31 down 0.50 Monday. Similar theme at pB3 NYTimes; at page 1, front page of Fin Times and front page of Fin Times "Companies & Markets" p11 with a story "Verizon to axe 8,000 more jobs - Drive to cut costs and boost sagging margins" & also Fin Time sp0 in "Wall Street" column. Inv Bus Daily's story at pA4: "Verizon's Q2 Profit Declines But Beats Views By A Penney - Rival AT&T iPhone Took Users - Verizon Wireless looking forward to new BlackBerry, Motorola Android handsets" and says VZ ended the quarter with 87.7 million custoemrs, ahed of No,. 2 T AT&T's 79.6 milllion customers.
WSJ lead story "Marketplace" pB1 says Ben Silverman, co-chairman of GE's NBC Entertainment and Universal Media Stuidios is leaving NBC to join a venture with Barry Diller's IAC/InterActive Corp. This is alos lead story in NYTimes "Business Day" at B1 that says he will be succeeded by Jeff Gaspin who now oversees NBC's cable channels. WSJ pC1 "Ahead of the Tape" has a story "Propsoed Overhaul Puts a New Spin On GE" that says GE's finance unit has benefitted from gov. support but there is concern that it could come with a price: new regulations that would put tighter oversight over GE Capital that has assets of $651 billion. Similar story at Fin Times p14 "Silverman quits NBC after two years." USA p3B "Programming exec leaves NBC Universal - Network struggles to keep up" says Silverman's leaving prime time's No. 4 network to launch an Internet production firm.
WSJ pC6 "Large Stock Focus" has a story "Verizon Slides 1.6%; BofA, Regions Gain" and under "Stocks in the News" under "...And the Bad News" VZ is charted because a drop in global enterprise revenue sent "a worrisome signal." NYTimes pB8 "Stocks & Bonds" column cites BofA, VZ, and JPM.
WSJ pA3 "US Effort to Modify Mortgages Falters" says an Obama administration effort to reduce home foreclosures by lowering the morgage payments of struggling borrowers isn't working. It says BAC BofAm is only this month beginning to implement the program and JPM JPMorgan said the process takes more time for each applicant than they had thought in an anecdote about a home owner not having a good experience.
Lead story WSJ pC1 "Money & Investing" is "BofA Plans to Cut 10% of Branches - CEO Tells Investors of Pullback; a Break From Two Decades of Growth" says CEO Kenneth Lewis said he is going to shrink BAC's 6,100 branch network by about 10%. Story says BAC holds 12.2% of all US deposits followed by Wells Fargo and JPM JPMorgan Chase.
WSJ pC1 "Late Push, Financials Lift Dow 15.27 Points" credits a 4.6% in BAC Bofam but notes the Dow was held back by VZ's 1.6% drop.
Inv Business Daily pA2 "Rising costs seen hurting Boeing" says BA was downgraded to equal weight by Barclays, which cited significant but as yet undertermined cost overruns in BA's 787 Dreamliner project. BA may have to take a charge against earnings on much of its $100 billion plus 787 backlog. BA closed 42.24 down 0.3%.
Inv Bus Daily's charts at pA9 says IBM "blasted above a 110.74 buy point from a yearlong cup-with-handle base."
Inv Bus Daily pB3 has a story about Carter's a seller of clothes and says it sell through WMT WalMart among others.
7/28/09 am Verizon 2Q Profits Falls, 8,000 Jobs Go
Post #24 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP was Monday's biggest loser, dropping 1.13 to close at $28.38 down 3.83% with volume of 23,110,257 on NYSE.
The Dow closed Monday at 9108.51 up 15.27 or 0.17% from Friday's close of 9093.24. Of the 30 Dow Companies: 17 gained and 18 declined with the biggest gainer being CAT Caterpillar $42.86 +0.86 2.05% 14,309,600 NYSE and, as mentioned above, the biggest loser being AXP Amex $28.38 -1.13 3.83% 23,110,257 NYSE.
A read of Monday's 7/27/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
VZ Verizon's 2Q profits fell 21% after cost cuting efforts failed to keep pace with falling revenue. VZ will be slashing more than 8,000 employee and contractor jobs. VZ earned $1.48 billion or 0.52 per share down from $1.88 bill or 0.66 a year earlier per AJC pA7 and WSJ pB1 where it compares VZ's layoff of 3% of its workforce with AT&T's 12,000 laid off employees that equals 4% of its work force. VZ closed at 31 down 0.50 Monday. Similar theme at pB3 NYTimes; at page 1, front page of Fin Times and front page of Fin Times "Companies & Markets" p11 with a story "Verizon to axe 8,000 more jobs - Drive to cut costs and boost sagging margins" & also Fin Time sp0 in "Wall Street" column. Inv Bus Daily's story at pA4: "Verizon's Q2 Profit Declines But Beats Views By A Penney - Rival AT&T iPhone Took Users - Verizon Wireless looking forward to new BlackBerry, Motorola Android handsets" and says VZ ended the quarter with 87.7 million custoemrs, ahed of No,. 2 T AT&T's 79.6 milllion customers.
WSJ lead story "Marketplace" pB1 says Ben Silverman, co-chairman of GE's NBC Entertainment and Universal Media Stuidios is leaving NBC to join a venture with Barry Diller's IAC/InterActive Corp. This is alos lead story in NYTimes "Business Day" at B1 that says he will be succeeded by Jeff Gaspin who now oversees NBC's cable channels. WSJ pC1 "Ahead of the Tape" has a story "Propsoed Overhaul Puts a New Spin On GE" that says GE's finance unit has benefitted from gov. support but there is concern that it could come with a price: new regulations that would put tighter oversight over GE Capital that has assets of $651 billion. Similar story at Fin Times p14 "Silverman quits NBC after two years." USA p3B "Programming exec leaves NBC Universal - Network struggles to keep up" says Silverman's leaving prime time's No. 4 network to launch an Internet production firm.
WSJ pC6 "Large Stock Focus" has a story "Verizon Slides 1.6%; BofA, Regions Gain" and under "Stocks in the News" under "...And the Bad News" VZ is charted because a drop in global enterprise revenue sent "a worrisome signal." NYTimes pB8 "Stocks & Bonds" column cites BofA, VZ, and JPM.
WSJ pA3 "US Effort to Modify Mortgages Falters" says an Obama administration effort to reduce home foreclosures by lowering the morgage payments of struggling borrowers isn't working. It says BAC BofAm is only this month beginning to implement the program and JPM JPMorgan said the process takes more time for each applicant than they had thought in an anecdote about a home owner not having a good experience.
Lead story WSJ pC1 "Money & Investing" is "BofA Plans to Cut 10% of Branches - CEO Tells Investors of Pullback; a Break From Two Decades of Growth" says CEO Kenneth Lewis said he is going to shrink BAC's 6,100 branch network by about 10%. Story says BAC holds 12.2% of all US deposits followed by Wells Fargo and JPM JPMorgan Chase.
WSJ pC1 "Late Push, Financials Lift Dow 15.27 Points" credits a 4.6% in BAC Bofam but notes the Dow was held back by VZ's 1.6% drop.
Inv Business Daily pA2 "Rising costs seen hurting Boeing" says BA was downgraded to equal weight by Barclays, which cited significant but as yet undertermined cost overruns in BA's 787 Dreamliner project. BA may have to take a charge against earnings on much of its $100 billion plus 787 backlog. BA closed 42.24 down 0.3%.
Inv Bus Daily's charts at pA9 says IBM "blasted above a 110.74 buy point from a yearlong cup-with-handle base."
Inv Bus Daily pB3 has a story about Carter's a seller of clothes and says it sell through WMT WalMart among others.
THE FOLLOWING WAS PUBLISHED IN MONDAY'S BLOGS; POSTS #22 & #23:
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.73 +0.28 1.1% 26,226,400 NYSE
AA $11.3 +0.28 2.54% 31,246,855 NYSE
AXP $28.38 -1.13 3.83% 23,110,257 NYSE
BAC $13.09 +0.58 4.64% 239,174,934 NYSE
BA $42.24 -0.13 0.31% 5,668,332 NYSE
CAT $42.86 +0.86 2.05% 14,309,600 NYSE
CVX $68.85 +0.42 0.61% 7,775,113 NYSE
CSCO $21.84 -0.04 0.18% 31,567,003 NASDAQ-GS
KO $49.52 +0.16 0.32% 8,103,336 NYSE
DD $30.36 -0.32 1.07% 6,072,393 NYSE
DIS $26.45 +0.13 0.49% 9,766,899 NYSE
XOM $72.75 +0.46 0.64% 17,192,866 NYSE
GE $12.32 +0.29 2.41% 76,701,667 NYSE
HPQ $41.84 +0.12 0.29% 10,675,534 NYSE
HD $25.16 -0.16 0.63% 13,401,694 NYSE
INTC $19.47 +0.11 0.57% 42,289,301 NASDAQ-GS
IBM $117.63 -0.01 0.01% 5,063,867 NYSE
JPM $38.13 +0.21 0.55% 30,156,193 NYSE
JNJ $61.27 -0.24 0.39% 7,923,037 NYSE
KFT $28.26 +0.14 0.5% 7,621,564 NYSE
MCD $55.97 -0.11 0.2% 7,776,970 NYSE
MRK $30.77 -0.22 0.71% 20,045,051 NYSE
MSFT $23.11 -0.34 1.45% 80,838,132 NASDAQ-GS
PFE $16.62 +0.14 0.85% 47,367,688 NYSE
PG $55.78 -0.06 0.11% 6,815,073 NYSE
MMM $69.91 +0.49 0.71% 4,151,609 NYSE
TRV $43.54 +0.32 0.74% 3,118,684 NYSE
UTX $52.11 -0.12 0.23% 6,076,701 NYSE
VZ $31 0 -.50 1.59% 19,117,592 NYSE
WMT $48.97 +0.03 0.06% 14,257,043 NYSE
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Monday's Dow closing numerator was 1205.23 up 2.02 from Friday's Dow closing numerator of 1203.21. 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 numerator increase of 2.02 by the divisor you get 15.27, the increase in Monday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones was 40.17 up 0.06 from Friday's average closing price of 40.11. The median closing price of Monday's Dow Jones was 34.45 down 0.26 from Friday's Dow Jones median closing price of 34.71.
The highest closing price Monday was IBM $117.63 -0.01 0.01% 5,063,867 NYSE and the lowest closing price Monday again was Alcoa AA $11.3 +0.28 2.54% 31,246,855 NYSE.
The lowest volume Monday was again TRV Travelers $43.54 +0.32 0.74% 3,118,684 NYSE and the highest volume was $13.09 +0.58 4.64% 239,174,934 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 made $180 ($120,510 - $120,330).
The Dow closed Monday at 9108.51 up 15.27 or 0.17% from Friday's close of 9093.24. Of the 30 Dow Companies: 17 gained and 18 declined with the biggest gainer being CAT Caterpillar $42.86 +0.86 2.05% 14,309,600 NYSE and, as mentioned above, the biggest loser being AXP Amex $28.38 -1.13 3.83% 23,110,257 NYSE.
A read of Monday's 7/27/09 print editions of: Wall Street Journal, Investors Business Daily, Financial Times, USA Today, and Atl Journal Const yielded the following stories about Dow Jones 30 component companies:
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
VZ Verizon's 2Q profits fell 21% after cost cuting efforts failed to keep pace with falling revenue. VZ will be slashing more than 8,000 employee and contractor jobs. VZ earned $1.48 billion or 0.52 per share down from $1.88 bill or 0.66 a year earlier per AJC pA7 and WSJ pB1 where it compares VZ's layoff of 3% of its workforce with AT&T's 12,000 laid off employees that equals 4% of its work force. VZ closed at 31 down 0.50 Monday. Similar theme at pB3 NYTimes; at page 1, front page of Fin Times and front page of Fin Times "Companies & Markets" p11 with a story "Verizon to axe 8,000 more jobs - Drive to cut costs and boost sagging margins" & also Fin Time sp0 in "Wall Street" column. Inv Bus Daily's story at pA4: "Verizon's Q2 Profit Declines But Beats Views By A Penney - Rival AT&T iPhone Took Users - Verizon Wireless looking forward to new BlackBerry, Motorola Android handsets" and says VZ ended the quarter with 87.7 million custoemrs, ahed of No,. 2 T AT&T's 79.6 milllion customers.
WSJ lead story "Marketplace" pB1 says Ben Silverman, co-chairman of GE's NBC Entertainment and Universal Media Stuidios is leaving NBC to join a venture with Barry Diller's IAC/InterActive Corp. This is alos lead story in NYTimes "Business Day" at B1 that says he will be succeeded by Jeff Gaspin who now oversees NBC's cable channels. WSJ pC1 "Ahead of the Tape" has a story "Propsoed Overhaul Puts a New Spin On GE" that says GE's finance unit has benefitted from gov. support but there is concern that it could come with a price: new regulations that would put tighter oversight over GE Capital that has assets of $651 billion. Similar story at Fin Times p14 "Silverman quits NBC after two years." USA p3B "Programming exec leaves NBC Universal - Network struggles to keep up" says Silverman's leaving prime time's No. 4 network to launch an Internet production firm.
WSJ pC6 "Large Stock Focus" has a story "Verizon Slides 1.6%; BofA, Regions Gain" and under "Stocks in the News" under "...And the Bad News" VZ is charted because a drop in global enterprise revenue sent "a worrisome signal." NYTimes pB8 "Stocks & Bonds" column cites BofA, VZ, and JPM.
WSJ pA3 "US Effort to Modify Mortgages Falters" says an Obama administration effort to reduce home foreclosures by lowering the morgage payments of struggling borrowers isn't working. It says BAC BofAm is only this month beginning to implement the program and JPM JPMorgan said the process takes more time for each applicant than they had thought in an anecdote about a home owner not having a good experience.
Lead story WSJ pC1 "Money & Investing" is "BofA Plans to Cut 10% of Branches - CEO Tells Investors of Pullback; a Break From Two Decades of Growth" says CEO Kenneth Lewis said he is going to shrink BAC's 6,100 branch network by about 10%. Story says BAC holds 12.2% of all US deposits followed by Wells Fargo and JPM JPMorgan Chase.
WSJ pC1 "Late Push, Financials Lift Dow 15.27 Points" credits a 4.6% in BAC Bofam but notes the Dow was held back by VZ's 1.6% drop.
Inv Business Daily pA2 "Rising costs seen hurting Boeing" says BA was downgraded to equal weight by Barclays, which cited significant but as yet undertermined cost overruns in BA's 787 Dreamliner project. BA may have to take a charge against earnings on much of its $100 billion plus 787 backlog. BA closed 42.24 down 0.3%.
Inv Bus Daily's charts at pA9 says IBM "blasted above a 110.74 buy point from a yearlong cup-with-handle base."
Inv Bus Daily pB3 has a story about Carter's a seller of clothes and says it sell through WMT WalMart among others.
THE FOLLOWING WAS PUBLISHED IN MONDAY'S BLOGS; POSTS #22 & #23:
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.73 +0.28 1.1% 26,226,400 NYSE
AA $11.3 +0.28 2.54% 31,246,855 NYSE
AXP $28.38 -1.13 3.83% 23,110,257 NYSE
BAC $13.09 +0.58 4.64% 239,174,934 NYSE
BA $42.24 -0.13 0.31% 5,668,332 NYSE
CAT $42.86 +0.86 2.05% 14,309,600 NYSE
CVX $68.85 +0.42 0.61% 7,775,113 NYSE
CSCO $21.84 -0.04 0.18% 31,567,003 NASDAQ-GS
KO $49.52 +0.16 0.32% 8,103,336 NYSE
DD $30.36 -0.32 1.07% 6,072,393 NYSE
DIS $26.45 +0.13 0.49% 9,766,899 NYSE
XOM $72.75 +0.46 0.64% 17,192,866 NYSE
GE $12.32 +0.29 2.41% 76,701,667 NYSE
HPQ $41.84 +0.12 0.29% 10,675,534 NYSE
HD $25.16 -0.16 0.63% 13,401,694 NYSE
INTC $19.47 +0.11 0.57% 42,289,301 NASDAQ-GS
IBM $117.63 -0.01 0.01% 5,063,867 NYSE
JPM $38.13 +0.21 0.55% 30,156,193 NYSE
JNJ $61.27 -0.24 0.39% 7,923,037 NYSE
KFT $28.26 +0.14 0.5% 7,621,564 NYSE
MCD $55.97 -0.11 0.2% 7,776,970 NYSE
MRK $30.77 -0.22 0.71% 20,045,051 NYSE
MSFT $23.11 -0.34 1.45% 80,838,132 NASDAQ-GS
PFE $16.62 +0.14 0.85% 47,367,688 NYSE
PG $55.78 -0.06 0.11% 6,815,073 NYSE
MMM $69.91 +0.49 0.71% 4,151,609 NYSE
TRV $43.54 +0.32 0.74% 3,118,684 NYSE
UTX $52.11 -0.12 0.23% 6,076,701 NYSE
VZ $31 0 -.50 1.59% 19,117,592 NYSE
WMT $48.97 +0.03 0.06% 14,257,043 NYSE
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Monday's Dow closing numerator was 1205.23 up 2.02 from Friday's Dow closing numerator of 1203.21. 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 numerator increase of 2.02 by the divisor you get 15.27, the increase in Monday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones was 40.17 up 0.06 from Friday's average closing price of 40.11. The median closing price of Monday's Dow Jones was 34.45 down 0.26 from Friday's Dow Jones median closing price of 34.71.
The highest closing price Monday was IBM $117.63 -0.01 0.01% 5,063,867 NYSE and the lowest closing price Monday again was Alcoa AA $11.3 +0.28 2.54% 31,246,855 NYSE.
The lowest volume Monday was again TRV Travelers $43.54 +0.32 0.74% 3,118,684 NYSE and the highest volume was $13.09 +0.58 4.64% 239,174,934 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 made $180 ($120,510 - $120,330).
Monday, July 27, 2009
Dow up 15.27 +0.17% to Close at 9108.51
Post #23 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company. AXP was today's biggest loser, dropping 1.13 to close at $28.38 down 3.83% with volume of 23,110,257 on NYSE.
The Dow closed Monday at 9108.51 up 15.27 or 0.17% from Friday's close of 9093.24. Of the 30 Dow Companies: 17 gained and 18 declined with the biggest gainer being CAT Caterpillar $42.86 +0.86 2.05% 14,309,600 NYSE and, as mentioned above, the biggest loser being AXP Amex $28.38 -1.13 3.83% 23,110,257 NYSE.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Monday's Dow closing numerator was 1205.23 up 2.02 from Friday's Dow closing numerator of 1203.21. 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 numerator increase of 2.02 by the divisor you get 15.27, the increase in Monday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones was 40.17 up 0.06 from Friday's average closing price of 40.11. The median closing price of Monday's Dow Jones was 34.45 down 0.26 from Friday's Dow Jones median closing price of 34.71.
The highest closing price Monday was IBM $117.63 -0.01 0.01% 5,063,867 NYSE and the lowest closing price Monday again was Alcoa AA $11.3 +0.28 2.54% 31,246,855 NYSE.
The lowest volume Monday was again TRV Travelers $43.54 +0.32 0.74% 3,118,684 NYSE and the highest volume was $13.09 +0.58 4.64% 239,174,934 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 made $180 ($120,510 - $120,330).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.73 +0.28 1.1% 26,226,400 NYSE
AA $11.3 +0.28 2.54% 31,246,855 NYSE
AXP $28.38 -1.13 3.83% 23,110,257 NYSE
BAC $13.09 +0.58 4.64% 239,174,934 NYSE
BA $42.24 -0.13 0.31% 5,668,332 NYSE
CAT $42.86 +0.86 2.05% 14,309,600 NYSE
CVX $68.85 +0.42 0.61% 7,775,113 NYSE
CSCO $21.84 -0.04 0.18% 31,567,003 NASDAQ-GS
KO $49.52 +0.16 0.32% 8,103,336 NYSE
DD $30.36 -0.32 1.07% 6,072,393 NYSE
DIS $26.45 +0.13 0.49% 9,766,899 NYSE
XOM $72.75 +0.46 0.64% 17,192,866 NYSE
GE $12.32 +0.29 2.41% 76,701,667 NYSE
HPQ $41.84 +0.12 0.29% 10,675,534 NYSE
HD $25.16 -0.16 0.63% 13,401,694 NYSE
INTC $19.47 +0.11 0.57% 42,289,301 NASDAQ-GS
IBM $117.63 -0.01 0.01% 5,063,867 NYSE
JPM $38.13 +0.21 0.55% 30,156,193 NYSE
JNJ $61.27 -0.24 0.39% 7,923,037 NYSE
KFT $28.26 +0.14 0.5% 7,621,564 NYSE
MCD $55.97 -0.11 0.2% 7,776,970 NYSE
MRK $30.77 -0.22 0.71% 20,045,051 NYSE
MSFT $23.11 -0.34 1.45% 80,838,132 NASDAQ-GS
PFE $16.62 +0.14 0.85% 47,367,688 NYSE
PG $55.78 -0.06 0.11% 6,815,073 NYSE
MMM $69.91 +0.49 0.71% 4,151,609 NYSE
TRV $43.54 +0.32 0.74% 3,118,684 NYSE
UTX $52.11 -0.12 0.23% 6,076,701 NYSE
VZ $31 0 -.50 1.59% 19,117,592 NYSE
WMT $48.97 +0.03 0.06% 14,257,043 NYSE
THE FOLLOWING WAS PUBLISHED IN MONDAY MORNING'S BLOG; POST #22:
A read of Monday's 7/27/09 print editions of: Wall Street Journal, AJC, Financial Times (no Dow Jones 30 mentions that I could find), USA Today, Barron's and 8/3/09 issues of Business Week and Time yielded the following stories about Dow Jones 30 component companies:
Barron's p15 says Tues GE Capital reveiws its financial condition and Thurs XOM ExxonMobil and Dis Disney will report quarterly results.
NYTimes lead story 7/27 Bus. Section pB1 says there is a proposed US Congress bill to curb drug commercials on tv and notes the PFE paid $147 million last year to advertising each of is Viagra and Lyrica drugs - Lyrica is for fibromyalgia and accouned for $1.4 billion in sales for '08 (Viagra did $0.9 billion).
Meanwhile, WSJ pB4 "EU Panel Rejects Merck KGaA's Erbitux for Lung Caner" saying a Eurpoean Union panel Friday issued a negative opinion on the use of Erbitux in non small cell lung cancer. Erbitux is approved for some types of bowel, head and neck cancers, and did sales of $802 bmiilion las year.
NYT pB5 says PG Procter & Gamble is using Bloggers to introduce its updated Swiffer Wet Jet cleaning mop.
WSJ pA3 lead story "Loans Shrink as Fear Lingers - Portfolios at Big Banks Fall 2.8% in Last Quarter; Instituions, Borrowers Both Wary" says lending continues to slow as bankers and borrowers refrain from taking risks. BAC BofA is listed as having in 2Q a loan portfolio of $942 bil down 3.6%; JPM JPMorgan's 2Q portfolio of $680.6 down 3.9% and AXP Amex is $62.9 billion down 3.2%. Related story at WSJ pC "Banks Profit From US Guarantee - Lenders' Earnings Reap the Benefit of FDIC Backing on Company Debt" notes GE will save about $24 billion in borrowing costs during the next 3 years because of the gov's guarantee which the story calls "the gift that keeps on giving" and says JPM's savings wil be $3.1 billion. It notes BofAm hasn't issued medium term guaranteed debt since March.
BofA may bring the bull logo back for its Merrill Lynch divisin per WSJ pC10 quoting one banker "Merrill without the bull is like Sueprman without a cape.
"JP Morgan Continues Push in Prime" is at WSJ pC3 and says JPM has reshuffled its senior equities staff in a bid to rpepare for a push into prime brokerage.
JPM's Jame Dimon is profiled on the front page p1B of USA Today's Money Section "Dimon's capital obsession pays off - JPMorgan Chase stakes claim as a front runner as CEO steers it through crisis" where it says that Dimon was praised by Pres. Obama for doing a pretty good job during the financail cris. JPM closed Friday at 37.92.
JPM got more good press at Time 8/3/09 p43 "Too Much Profit? - Goldman Sachs and JPMorgan Chase are raking it in because they're good - if not virtuous."
WSJ pB1 "Videogame Makers Can't Dodge Recession" says MSFT's Xbox 360 console sales has plummeted 38% int he last month.
WSJp pB1 in a story about TV networks giving discounts for ads bought in advance says HPQ Hewlett-Packard isn't biting; HPQ spent $69 million in TV ads in '08 but is waiting to decide to buy tv time. Related story at WSJ pB5 says GE's NBC, whose prime time lineup is in fourth place, has been signing deeals with rateds down 6% from last year and notes Dis Disney's ABC has lowered rates 3% from last year.
Sat WSJ had a great interview with CSCO's CEO John Chambers @ pA11 and says it will be competing with its former strategic partners, IBM and HPQ by intoducing a new integrated hardware/softwre platform - the Cisco Unified computing System.
8/3 issue of Business Week in "Tech Gets Ready for a Recovery" says INTC's stock has surged 31% this year on hopes of a rebound in consumer spending.
BRNs p8 'Yahoo - Microsoft Pact: Alive Again" is another story about speculation re: a potential advertising partnership between Yahoo and MSFT.
Bus Week p33 "Can The Military Find the Answer to Alternative Energy" says there is a big drive to create a viable alternative energy future and mentions IBM as being involved.
Bus Week p56 lits the top ten global brands with 7 of them being Dow Jones 30 stocks; here they are KO Coke, IBM, MSFT, GE, Nokia (not Dow co.); Toyota Motor (not a Dow 30) INTC Intel, MCD McDonald's, Dis Disney, and another non Dower, Google.
Bus Week p6 says CAT, Catepillar and PFE Pfizer's good earnings has shown some "tentative signs of stabilization" in the economy.
Bus Wk p13, Will Pfizer's Giveaway Drugs Polish Its Public Image" notes the 160 year old PFE has up to now never handed out free drugs in resposne to a recession but CEO Jeffrey Kinders now has a free drug program, called Maintain.
Bus Wk p11 says Robert Zagunis, of Jensen Investment Management owns JNJ Johnson & JOhnson but has sold MRK Merck and PFE Pfizer.
BWweek p21 says VZ's Verizon Wireless is joining with oher cariers to grab a piece of the mobile sofware market from phonemakers.
Barrons 7/27 at p33 in a story about elecronics retailer hhgregg's stock says WMT is ramping up its consumer elecronics businesses.
BRNs "Put It on Master Card" at p16 in a story about Mastercard says it charged off $2.5 billion for the settlement of long running antitrust suits by AXP Amex and Discover.
Barron's p25 "Microsoft Goes Macrosoft" says MSFT is no longer the dead ringer proxy for tech. The lack of enterprise demand for MSF products as reflected in its poor 2Q results reflects how bad the economy is despite statistical indications that the recession has bottomed.
The Dow closed Monday at 9108.51 up 15.27 or 0.17% from Friday's close of 9093.24. Of the 30 Dow Companies: 17 gained and 18 declined with the biggest gainer being CAT Caterpillar $42.86 +0.86 2.05% 14,309,600 NYSE and, as mentioned above, the biggest loser being AXP Amex $28.38 -1.13 3.83% 23,110,257 NYSE.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Monday's Dow closing numerator was 1205.23 up 2.02 from Friday's Dow closing numerator of 1203.21. 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 numerator increase of 2.02 by the divisor you get 15.27, the increase in Monday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones was 40.17 up 0.06 from Friday's average closing price of 40.11. The median closing price of Monday's Dow Jones was 34.45 down 0.26 from Friday's Dow Jones median closing price of 34.71.
The highest closing price Monday was IBM $117.63 -0.01 0.01% 5,063,867 NYSE and the lowest closing price Monday again was Alcoa AA $11.3 +0.28 2.54% 31,246,855 NYSE.
The lowest volume Monday was again TRV Travelers $43.54 +0.32 0.74% 3,118,684 NYSE and the highest volume was $13.09 +0.58 4.64% 239,174,934 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 made $180 ($120,510 - $120,330).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.73 +0.28 1.1% 26,226,400 NYSE
AA $11.3 +0.28 2.54% 31,246,855 NYSE
AXP $28.38 -1.13 3.83% 23,110,257 NYSE
BAC $13.09 +0.58 4.64% 239,174,934 NYSE
BA $42.24 -0.13 0.31% 5,668,332 NYSE
CAT $42.86 +0.86 2.05% 14,309,600 NYSE
CVX $68.85 +0.42 0.61% 7,775,113 NYSE
CSCO $21.84 -0.04 0.18% 31,567,003 NASDAQ-GS
KO $49.52 +0.16 0.32% 8,103,336 NYSE
DD $30.36 -0.32 1.07% 6,072,393 NYSE
DIS $26.45 +0.13 0.49% 9,766,899 NYSE
XOM $72.75 +0.46 0.64% 17,192,866 NYSE
GE $12.32 +0.29 2.41% 76,701,667 NYSE
HPQ $41.84 +0.12 0.29% 10,675,534 NYSE
HD $25.16 -0.16 0.63% 13,401,694 NYSE
INTC $19.47 +0.11 0.57% 42,289,301 NASDAQ-GS
IBM $117.63 -0.01 0.01% 5,063,867 NYSE
JPM $38.13 +0.21 0.55% 30,156,193 NYSE
JNJ $61.27 -0.24 0.39% 7,923,037 NYSE
KFT $28.26 +0.14 0.5% 7,621,564 NYSE
MCD $55.97 -0.11 0.2% 7,776,970 NYSE
MRK $30.77 -0.22 0.71% 20,045,051 NYSE
MSFT $23.11 -0.34 1.45% 80,838,132 NASDAQ-GS
PFE $16.62 +0.14 0.85% 47,367,688 NYSE
PG $55.78 -0.06 0.11% 6,815,073 NYSE
MMM $69.91 +0.49 0.71% 4,151,609 NYSE
TRV $43.54 +0.32 0.74% 3,118,684 NYSE
UTX $52.11 -0.12 0.23% 6,076,701 NYSE
VZ $31 0 -.50 1.59% 19,117,592 NYSE
WMT $48.97 +0.03 0.06% 14,257,043 NYSE
THE FOLLOWING WAS PUBLISHED IN MONDAY MORNING'S BLOG; POST #22:
A read of Monday's 7/27/09 print editions of: Wall Street Journal, AJC, Financial Times (no Dow Jones 30 mentions that I could find), USA Today, Barron's and 8/3/09 issues of Business Week and Time yielded the following stories about Dow Jones 30 component companies:
Barron's p15 says Tues GE Capital reveiws its financial condition and Thurs XOM ExxonMobil and Dis Disney will report quarterly results.
NYTimes lead story 7/27 Bus. Section pB1 says there is a proposed US Congress bill to curb drug commercials on tv and notes the PFE paid $147 million last year to advertising each of is Viagra and Lyrica drugs - Lyrica is for fibromyalgia and accouned for $1.4 billion in sales for '08 (Viagra did $0.9 billion).
Meanwhile, WSJ pB4 "EU Panel Rejects Merck KGaA's Erbitux for Lung Caner" saying a Eurpoean Union panel Friday issued a negative opinion on the use of Erbitux in non small cell lung cancer. Erbitux is approved for some types of bowel, head and neck cancers, and did sales of $802 bmiilion las year.
NYT pB5 says PG Procter & Gamble is using Bloggers to introduce its updated Swiffer Wet Jet cleaning mop.
WSJ pA3 lead story "Loans Shrink as Fear Lingers - Portfolios at Big Banks Fall 2.8% in Last Quarter; Instituions, Borrowers Both Wary" says lending continues to slow as bankers and borrowers refrain from taking risks. BAC BofA is listed as having in 2Q a loan portfolio of $942 bil down 3.6%; JPM JPMorgan's 2Q portfolio of $680.6 down 3.9% and AXP Amex is $62.9 billion down 3.2%. Related story at WSJ pC "Banks Profit From US Guarantee - Lenders' Earnings Reap the Benefit of FDIC Backing on Company Debt" notes GE will save about $24 billion in borrowing costs during the next 3 years because of the gov's guarantee which the story calls "the gift that keeps on giving" and says JPM's savings wil be $3.1 billion. It notes BofAm hasn't issued medium term guaranteed debt since March.
BofA may bring the bull logo back for its Merrill Lynch divisin per WSJ pC10 quoting one banker "Merrill without the bull is like Sueprman without a cape.
"JP Morgan Continues Push in Prime" is at WSJ pC3 and says JPM has reshuffled its senior equities staff in a bid to rpepare for a push into prime brokerage.
JPM's Jame Dimon is profiled on the front page p1B of USA Today's Money Section "Dimon's capital obsession pays off - JPMorgan Chase stakes claim as a front runner as CEO steers it through crisis" where it says that Dimon was praised by Pres. Obama for doing a pretty good job during the financail cris. JPM closed Friday at 37.92.
JPM got more good press at Time 8/3/09 p43 "Too Much Profit? - Goldman Sachs and JPMorgan Chase are raking it in because they're good - if not virtuous."
WSJ pB1 "Videogame Makers Can't Dodge Recession" says MSFT's Xbox 360 console sales has plummeted 38% int he last month.
WSJp pB1 in a story about TV networks giving discounts for ads bought in advance says HPQ Hewlett-Packard isn't biting; HPQ spent $69 million in TV ads in '08 but is waiting to decide to buy tv time. Related story at WSJ pB5 says GE's NBC, whose prime time lineup is in fourth place, has been signing deeals with rateds down 6% from last year and notes Dis Disney's ABC has lowered rates 3% from last year.
Sat WSJ had a great interview with CSCO's CEO John Chambers @ pA11 and says it will be competing with its former strategic partners, IBM and HPQ by intoducing a new integrated hardware/softwre platform - the Cisco Unified computing System.
8/3 issue of Business Week in "Tech Gets Ready for a Recovery" says INTC's stock has surged 31% this year on hopes of a rebound in consumer spending.
BRNs p8 'Yahoo - Microsoft Pact: Alive Again" is another story about speculation re: a potential advertising partnership between Yahoo and MSFT.
Bus Week p33 "Can The Military Find the Answer to Alternative Energy" says there is a big drive to create a viable alternative energy future and mentions IBM as being involved.
Bus Week p56 lits the top ten global brands with 7 of them being Dow Jones 30 stocks; here they are KO Coke, IBM, MSFT, GE, Nokia (not Dow co.); Toyota Motor (not a Dow 30) INTC Intel, MCD McDonald's, Dis Disney, and another non Dower, Google.
Bus Week p6 says CAT, Catepillar and PFE Pfizer's good earnings has shown some "tentative signs of stabilization" in the economy.
Bus Wk p13, Will Pfizer's Giveaway Drugs Polish Its Public Image" notes the 160 year old PFE has up to now never handed out free drugs in resposne to a recession but CEO Jeffrey Kinders now has a free drug program, called Maintain.
Bus Wk p11 says Robert Zagunis, of Jensen Investment Management owns JNJ Johnson & JOhnson but has sold MRK Merck and PFE Pfizer.
BWweek p21 says VZ's Verizon Wireless is joining with oher cariers to grab a piece of the mobile sofware market from phonemakers.
Barrons 7/27 at p33 in a story about elecronics retailer hhgregg's stock says WMT is ramping up its consumer elecronics businesses.
BRNs "Put It on Master Card" at p16 in a story about Mastercard says it charged off $2.5 billion for the settlement of long running antitrust suits by AXP Amex and Discover.
Barron's p25 "Microsoft Goes Macrosoft" says MSFT is no longer the dead ringer proxy for tech. The lack of enterprise demand for MSF products as reflected in its poor 2Q results reflects how bad the economy is despite statistical indications that the recession has bottomed.
7/27/09 Pfizer & other Drug Mfgers May be Banned from TV Ads
Post #22 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. Click at the 7/23/09 Blog to find a description of this week's profiled company, AXP American Express Company.
A read of Monday's 7/27/09 print editions of: Wall Street Journal, AJC, Financial Times (no Dow Jones 30 mentions that I could find), USA Today, Barron's and 8/3/09 issues of Business Week and Time yielded the following stories about Dow Jones 30 component companies:
Barron's p15 says Tues GE Capital reveiws its financial condition and Thurs XOM ExxonMobil and Dis Disney will report quarterly results.
NYTimes lead story 7/27 Bus. Section pB1 says there is a proposed US Congress bill to curb drug commercials on tv and notes the PFE paid $147 million last year to advertising each of is Viagra and Lyrica drugs - Lyrica is for fibromyalgia and accouned for $1.4 billion in sales for '08 (Viagra did $0.9 billion).
Meanwhile, WSJ pB4 "EU Panel Rejects Merck KGaA's Erbitux for Lung Caner" saying a Eurpoean Union panel Friday issued a negative opinion on the use of Erbitux in non small cell lung cancer. Erbitux is approved for some types of bowel, head and neck cancers, and did sales of $802 bmiilion las year.
NYT pB5 says PG Procter & Gamble is using Bloggers to introduce its updated Swiffer Wet Jet cleaning mop.
WSJ pA3 lead story "Loans Shrink as Fear Lingers - Portfolios at Big Banks Fall 2.8% in Last Quarter; Instituions, Borrowers Both Wary" says lending continues to slow as bankers and borrowers refrain from taking risks. BAC BofA is listed as having in 2Q a loan portfolio of $942 bil down 3.6%; JPM JPMorgan's 2Q portfolio of $680.6 down 3.9% and AXP Amex is $62.9 billion down 3.2%. Related story at WSJ pC "Banks Profit From US Guarantee - Lenders' Earnings Reap the Benefit of FDIC Backing on Company Debt" notes GE will save about $24 billion in borrowing costs during the next 3 years because of the gov's guarantee which the story calls "the gift that keeps on giving" and says JPM's savings wil be $3.1 billion. It notes BofAm hasn't issued medium term guaranteed debt since March.
BofA may bring the bull logo back for its Merrill Lynch divisin per WSJ pC10 quoting one banker "Merrill without the bull is like Sueprman without a cape.
"JP Morgan Continues Push in Prime" is at WSJ pC3 and says JPM has reshuffled its senior equities staff in a bid to rpepare for a push into prime brokerage.
JPM's Jame Dimon is profiled on the front page p1B of USA Today's Money Section "Dimon's capital obsession pays off - JPMorgan Chase stakes claim as a front runner as CEO steers it through crisis" where it says that Dimon was praised by Pres. Obama for doing a pretty good job during the financail cris. JPM closed Friday at 37.92.
JPM got more good press at Time 8/3/09 p43 "Too Much Profit? - Goldman Sachs and JPMorgan Chase are raking it in because they're good - if not virtuous."
WSJ pB1 "Videogame Makers Can't Dodge Recession" says MSFT's Xbox 360 console sales has plummeted 38% int he last month.
WSJp pB1 in a story about TV networks giving discounts for ads bought in advance says HPQ Hewlett-Packard isn't biting; HPQ spent $69 million in TV ads in '08 but is waiting to decide to buy tv time. Related story at WSJ pB5 says GE's NBC, whose prime time lineup is in fourth place, has been signing deeals with rateds down 6% from last year and notes Dis Disney's ABC has lowered rates 3% from last year.
Sat WSJ had a great interview with CSCO's CEO John Chambers @ pA11 and says it will be competing with its former strategic partners, IBM and HPQ by intoducing a new integrated hardware/softwre platform - the Cisco Unified computing System.
8/3 issue of Business Week in "Tech Gets Ready for a Recovery" says INTC's stock has surged 31% this year on hopes of a rebound in consumer spending.
BRNs p8 'Yahoo - Microsoft Pact: Alive Again" is another story about speculation re: a potential advertising partnership between Yahoo and MSFT.
Bus Week p33 "Can The Military Find the Answer to Alternative Energy" says there is a big drive to create a viable alternative energy future and mentions IBM as being involved.
Bus Week p56 lits the top ten global brands with 7 of them being Dow Jones 30 stocks; here they are KO Coke, IBM, MSFT, GE, Nokia (not Dow co.); Toyota Motor (not a Dow 30) INTC Intel, MCD McDonald's, Dis Disney, and another non Dower, Google.
Bus Week p6 says CAT, Catepillar and PFE Pfizer's good earnings has shown some "tentative signs of stabilization" in the economy.
Bus Wk p13, Will Pfizer's Giveaway Drugs Polish Its Public Image" notes the 160 year old PFE has up to now never handed out free drugs in resposne to a recession but CEO Jeffrey Kinders now has a free drug program, called Maintain.
Bus Wk p11 says Robert Zagunis, of Jensen Investment Management owns JNJ Johnson & JOhnson but has sold MRK Merck and PFE Pfizer.
BWweek p21 says VZ's Verizon Wireless is joining with oher cariers to grab a piece of the mobile sofware market from phonemakers.
Barrons 7/27 at p33 in a story about elecronics retailer hhgregg's stock says WMT is ramping up its consumer elecronics businesses.
BRNs "Put It on Master Card" at p16 in a story about Mastercard says it charged off $2.5 billion for the settlement of long running antitrust suits by AXP Amex and Discover.
Barron's p25 "Microsoft Goes Macrosoft" says MSFT is no longer the dead ringer proxy for tech. The lack of enterprise demand for MSF products as reflected in its poor 2Q results reflects how bad the economy is despite statistical indications that the recession has bottomed.
THE FOLLOWING WAS PUBLISHED IN FIRDAY AFTERNOON'S BLOG:
The Dow closed Friday at 9093.24 up 23.95 from Thursday's close of 9069.29. Of the 30 Dow Companies: 18 gained and 12 declined with the biggest gainer being JNJ Johnson & Johnson $61.51 +1.29 2.14% 11,373,011 NYSE and the biggest loser being MSFT Microsoft $23.45 -2.11 8.26% 214,575,273 NASDAQ-GS.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Friday's Dow closing numerator was 1203.32 up 3.17 from Thursday's Dow closing numerator of 1200.04. 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 numerator increase of 3.17 by the divisor you get 23.95, the increase in Friday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones was 40.11 up 0.11 from Thursday's Dow Jones average closing price of 40.00. The median closing price of Friday's Dow Jones was 34.71 up 4.00 from Thursday's Dow median closing price of 30.71.
The highest closing price Friday was IBM $117.64 +0.58 0.5% 6,245,003 NYSE and the lowest closing price Fridaday again was Alcoa AA $11.02 +0.22 2.04% 27,755,313 NYSE.
The lowest volume Fridday was again TRV Travelers $43.22 +0.61 1.43% 3,169,908 NYSE and the highest volume was MSFT Microsoft $23.45 -2.11 8.26% 214,575,273 NASDAQ-GS.
If Friday 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 $330 ($120,330 - $120,000).
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.45 -0.03 0.12% 25,697,080 NYSE
AA $11.02 +0.22 2.04% 27,755,313 NYSE
AXP $29.51 +0.06 0.2% 32,202,213 NYSE
BAC $12.51 -0.18 1.42% 186,003,753 NYSE
BA $42.37 +0.42 1% 5,036,347 NYSE
CAT $42 +0.74 1.79% 16,991,386 NYSE
CVX $68.43 +0.54 0.8% 9,146,184 NYSE
CSCO $21.88 -0.02 0.09% 40,432,660 NASDAQ-GS
KO $49.36 +0.18 0.37% 8,274,977 NYSE
DIS $26.58 -0.22 0.82% 8,753,718 NYSE
DD $30.04 -0.11 0.36% 7,713,519 NYSE
XOM $72.29 +0.68 0.95% 17,922,687 NYSE
GE $12.03 +0.08 0.67% 59,559,391 NYSE
HPQ $41.72 +0.08 0.19% 11,259,414 NYSE
HD $25.32 +0.04 0.16% 11,131,229 NYSE
INTC $19.36 -0.12 0.62% 49,701,991 NASDAQ-GS
IBM $117.64 +0.58 0.5% 6,245,003 NYSE
JPM $37.92 -0.23 0.6% 32,168,354 NYSE
JNJ $61.51 +1.29 2.14% 11,373,011 NYSE
KFT $28.12 -0.25 0.88% 12,113,371 NYSE
MCD $56.08 -0.01 0.02% 12,309,059 NYSE
MRK $30.99 +0.74 2.45% 24,441,970 NYSE
MSFT $23.45 -2.11 8.26% 214,575,273 NASDAQ-GS
PFE $16.48 +0.33 2.04% 50,808,879 NYSE
PG $55.84 +0.68 1.23% 8,631,323 NYSE
MMM $69.42 -0.01 0.01% 6,108,132 NYSE
TRV $43.22 +0.61 1.43% 3,169,908 NYSE
UTX $52.23 -1.15 2.15% 7,661,495 NYSE
VZ $31.5 +0.23 0.74% 15,085,693 NYSE
WMT $48.94 +0.18 0.37% 13,073,853 NYSE
Here are the latest SEC filings as of 8/24/09 (being updated) 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
A read of Monday's 7/27/09 print editions of: Wall Street Journal, AJC, Financial Times (no Dow Jones 30 mentions that I could find), USA Today, Barron's and 8/3/09 issues of Business Week and Time yielded the following stories about Dow Jones 30 component companies:
Barron's p15 says Tues GE Capital reveiws its financial condition and Thurs XOM ExxonMobil and Dis Disney will report quarterly results.
NYTimes lead story 7/27 Bus. Section pB1 says there is a proposed US Congress bill to curb drug commercials on tv and notes the PFE paid $147 million last year to advertising each of is Viagra and Lyrica drugs - Lyrica is for fibromyalgia and accouned for $1.4 billion in sales for '08 (Viagra did $0.9 billion).
Meanwhile, WSJ pB4 "EU Panel Rejects Merck KGaA's Erbitux for Lung Caner" saying a Eurpoean Union panel Friday issued a negative opinion on the use of Erbitux in non small cell lung cancer. Erbitux is approved for some types of bowel, head and neck cancers, and did sales of $802 bmiilion las year.
NYT pB5 says PG Procter & Gamble is using Bloggers to introduce its updated Swiffer Wet Jet cleaning mop.
WSJ pA3 lead story "Loans Shrink as Fear Lingers - Portfolios at Big Banks Fall 2.8% in Last Quarter; Instituions, Borrowers Both Wary" says lending continues to slow as bankers and borrowers refrain from taking risks. BAC BofA is listed as having in 2Q a loan portfolio of $942 bil down 3.6%; JPM JPMorgan's 2Q portfolio of $680.6 down 3.9% and AXP Amex is $62.9 billion down 3.2%. Related story at WSJ pC "Banks Profit From US Guarantee - Lenders' Earnings Reap the Benefit of FDIC Backing on Company Debt" notes GE will save about $24 billion in borrowing costs during the next 3 years because of the gov's guarantee which the story calls "the gift that keeps on giving" and says JPM's savings wil be $3.1 billion. It notes BofAm hasn't issued medium term guaranteed debt since March.
BofA may bring the bull logo back for its Merrill Lynch divisin per WSJ pC10 quoting one banker "Merrill without the bull is like Sueprman without a cape.
"JP Morgan Continues Push in Prime" is at WSJ pC3 and says JPM has reshuffled its senior equities staff in a bid to rpepare for a push into prime brokerage.
JPM's Jame Dimon is profiled on the front page p1B of USA Today's Money Section "Dimon's capital obsession pays off - JPMorgan Chase stakes claim as a front runner as CEO steers it through crisis" where it says that Dimon was praised by Pres. Obama for doing a pretty good job during the financail cris. JPM closed Friday at 37.92.
JPM got more good press at Time 8/3/09 p43 "Too Much Profit? - Goldman Sachs and JPMorgan Chase are raking it in because they're good - if not virtuous."
WSJ pB1 "Videogame Makers Can't Dodge Recession" says MSFT's Xbox 360 console sales has plummeted 38% int he last month.
WSJp pB1 in a story about TV networks giving discounts for ads bought in advance says HPQ Hewlett-Packard isn't biting; HPQ spent $69 million in TV ads in '08 but is waiting to decide to buy tv time. Related story at WSJ pB5 says GE's NBC, whose prime time lineup is in fourth place, has been signing deeals with rateds down 6% from last year and notes Dis Disney's ABC has lowered rates 3% from last year.
Sat WSJ had a great interview with CSCO's CEO John Chambers @ pA11 and says it will be competing with its former strategic partners, IBM and HPQ by intoducing a new integrated hardware/softwre platform - the Cisco Unified computing System.
8/3 issue of Business Week in "Tech Gets Ready for a Recovery" says INTC's stock has surged 31% this year on hopes of a rebound in consumer spending.
BRNs p8 'Yahoo - Microsoft Pact: Alive Again" is another story about speculation re: a potential advertising partnership between Yahoo and MSFT.
Bus Week p33 "Can The Military Find the Answer to Alternative Energy" says there is a big drive to create a viable alternative energy future and mentions IBM as being involved.
Bus Week p56 lits the top ten global brands with 7 of them being Dow Jones 30 stocks; here they are KO Coke, IBM, MSFT, GE, Nokia (not Dow co.); Toyota Motor (not a Dow 30) INTC Intel, MCD McDonald's, Dis Disney, and another non Dower, Google.
Bus Week p6 says CAT, Catepillar and PFE Pfizer's good earnings has shown some "tentative signs of stabilization" in the economy.
Bus Wk p13, Will Pfizer's Giveaway Drugs Polish Its Public Image" notes the 160 year old PFE has up to now never handed out free drugs in resposne to a recession but CEO Jeffrey Kinders now has a free drug program, called Maintain.
Bus Wk p11 says Robert Zagunis, of Jensen Investment Management owns JNJ Johnson & JOhnson but has sold MRK Merck and PFE Pfizer.
BWweek p21 says VZ's Verizon Wireless is joining with oher cariers to grab a piece of the mobile sofware market from phonemakers.
Barrons 7/27 at p33 in a story about elecronics retailer hhgregg's stock says WMT is ramping up its consumer elecronics businesses.
BRNs "Put It on Master Card" at p16 in a story about Mastercard says it charged off $2.5 billion for the settlement of long running antitrust suits by AXP Amex and Discover.
Barron's p25 "Microsoft Goes Macrosoft" says MSFT is no longer the dead ringer proxy for tech. The lack of enterprise demand for MSF products as reflected in its poor 2Q results reflects how bad the economy is despite statistical indications that the recession has bottomed.
THE FOLLOWING WAS PUBLISHED IN FIRDAY AFTERNOON'S BLOG:
The Dow closed Friday at 9093.24 up 23.95 from Thursday's close of 9069.29. Of the 30 Dow Companies: 18 gained and 12 declined with the biggest gainer being JNJ Johnson & Johnson $61.51 +1.29 2.14% 11,373,011 NYSE and the biggest loser being MSFT Microsoft $23.45 -2.11 8.26% 214,575,273 NASDAQ-GS.
The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.
Friday's Dow closing numerator was 1203.32 up 3.17 from Thursday's Dow closing numerator of 1200.04. 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 numerator increase of 3.17 by the divisor you get 23.95, the increase in Friday's Dow numerator.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones was 40.11 up 0.11 from Thursday's Dow Jones average closing price of 40.00. The median closing price of Friday's Dow Jones was 34.71 up 4.00 from Thursday's Dow median closing price of 30.71.
The highest closing price Friday was IBM $117.64 +0.58 0.5% 6,245,003 NYSE and the lowest closing price Fridaday again was Alcoa AA $11.02 +0.22 2.04% 27,755,313 NYSE.
The lowest volume Fridday was again TRV Travelers $43.22 +0.61 1.43% 3,169,908 NYSE and the highest volume was MSFT Microsoft $23.45 -2.11 8.26% 214,575,273 NASDAQ-GS.
If Friday 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 $330 ($120,330 - $120,000).
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
T $25.45 -0.03 0.12% 25,697,080 NYSE
AA $11.02 +0.22 2.04% 27,755,313 NYSE
AXP $29.51 +0.06 0.2% 32,202,213 NYSE
BAC $12.51 -0.18 1.42% 186,003,753 NYSE
BA $42.37 +0.42 1% 5,036,347 NYSE
CAT $42 +0.74 1.79% 16,991,386 NYSE
CVX $68.43 +0.54 0.8% 9,146,184 NYSE
CSCO $21.88 -0.02 0.09% 40,432,660 NASDAQ-GS
KO $49.36 +0.18 0.37% 8,274,977 NYSE
DIS $26.58 -0.22 0.82% 8,753,718 NYSE
DD $30.04 -0.11 0.36% 7,713,519 NYSE
XOM $72.29 +0.68 0.95% 17,922,687 NYSE
GE $12.03 +0.08 0.67% 59,559,391 NYSE
HPQ $41.72 +0.08 0.19% 11,259,414 NYSE
HD $25.32 +0.04 0.16% 11,131,229 NYSE
INTC $19.36 -0.12 0.62% 49,701,991 NASDAQ-GS
IBM $117.64 +0.58 0.5% 6,245,003 NYSE
JPM $37.92 -0.23 0.6% 32,168,354 NYSE
JNJ $61.51 +1.29 2.14% 11,373,011 NYSE
KFT $28.12 -0.25 0.88% 12,113,371 NYSE
MCD $56.08 -0.01 0.02% 12,309,059 NYSE
MRK $30.99 +0.74 2.45% 24,441,970 NYSE
MSFT $23.45 -2.11 8.26% 214,575,273 NASDAQ-GS
PFE $16.48 +0.33 2.04% 50,808,879 NYSE
PG $55.84 +0.68 1.23% 8,631,323 NYSE
MMM $69.42 -0.01 0.01% 6,108,132 NYSE
TRV $43.22 +0.61 1.43% 3,169,908 NYSE
UTX $52.23 -1.15 2.15% 7,661,495 NYSE
VZ $31.5 +0.23 0.74% 15,085,693 NYSE
WMT $48.94 +0.18 0.37% 13,073,853 NYSE
Here are the latest SEC filings as of 8/24/09 (being updated) 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 6/30/09 11K Annual Report of Employee Stock Purchase Plan
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 6/30/08 8K Settlement w/FDIC re: convenience checks
BAC Bank of Am 7/1/09 8A Regis. of Securities
BA Boeing 7/7/09 8K Acquisition of Vought Aircraft
CAT Caterpiller 6/23/09 11K Annual Report of Employee Stock Purchase Plan
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/25/09 11K Annual Report of Employee Stock Purchase Plan
DIS Disney 6/26/09 11K Annual Report of Employee Stock Purchase Plan
DD DuPont 6/29/09 11K Annual Report of Employee Stock Purchase Plan
XOM Exxon 6/24/09 11K Annual Report of Employee Stock Purchase Plan
GE 6/25/09 11K Annual Report of Employee Stock Purchase Plan
HPQ Hewlett-Pack 6/30/09 11K Annual Report of Employee Stock Purchase Plan
HD Home Depot 6/29/09 11K Annual Report of Employee Stock Purchase Plan
INTC Intel 7/14/09 8K Financial results 3rd quarter
IBM 6/29/09 11K Annual Report of Employee Stock Purchase Plan
JPM JPMorgan 7/14/09 Freewriting Prospectus
JNJ Johnson 6/28/09 8K Press release re: financial results
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/22/09 Prospectus
MRK Merck 7/1/09 8K Closing of sale of notes
MSFT Microsoft 6.29.09 11K Annual Report of Employee Stock Purchase Plan
PFE Pfizer 6/29/09 11K Annual Report of Employee Stock Purchase Plan
PG Procter Gam 7/13/09 8K re: 0.44 dividend
MMM 3M 7/7/09 8K settlement of shareholder derivative suit
TRV Travelers 6/24/09 11K Annual Report of Employee Stock Purchase Plan.
UTX United Tech 6/26/09 11K Annual Report of Employee Stock Purchase Plan
VZ Verizon 6/29 11K Annual Report of Employee Stock Purchase Plan
WMT Wal-Mart 6/5/09 10Q
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke
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