Wednesday, July 1, 2009

7/1 am WMT Wal-Mart Supports Making Employers Pay for Insur.

The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report.

The Dow closed Tuesday at 8447 down 82.38 down 0.97% from Mon's close of 8529.38. 24of the Dow 30 declined and only BAC Bank of Am, INTC Intel, McD McDonald's, MRK Merck, MMM and TRV Travelers gained.

A read of Wednesday's 7/1/09/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily and USA Today yielded the following stories about Dow Jones 30 component companies:

WMT Wal-Mart broke ranks with the nation's largest employers by announcing that it supports requiring employers to provide health insurance to workers. This will give a big boost to Pres. Obama's effort to provide coverage to all Americans. There are 46 million uninsureds in U.S. This was the front page story at WSJ p1 and also AJC pA10.

At WSJ pB1 is a story, "GE to Obtain Stem Cells from Geron for Research" and also at Fin Times p17 wherein it is reported that biotech company Geron agreed to provide stem cells to GE's GE Healthcare for use in tools that will test for the toxic effects of drug treatments which will take GE deeper into stem-cell research. This is also reported at WSJ pC6. GE is also mentioned at WSJ pB7 about Joost NV an online video service replacing its CEO. The story says Joost competes with YouTube and also Hulu LLC, a joint venture of Newws Corp., and GE's NBC Universal and Dis Walt Disney. Hulu is dedicated to tv programs. Same info is reported @ Fin Times p14

WSJ @pB4 says PFE Pfizer has promised to make changes to its proposed takeover of rival Wyeth in order to win European Union regulator aproval for the deal. The takeover is also mentioned @WSJ pC10 as one of the first quarter's largest deals.

WSJ @PB5, IBD @p4 and Fin Tim @ p17 says Dis Walt Disney said it will fund a $452 million expansion of its Hong Kong Disneyland park there.

WSJ @pC3 said software company LogMein Inc.'s ipo priced at $16 at the high end of the expected range. The IPO was co-managed by JPM JPM Morgan Chase. Same page it is said that JPM is the latest bank to consider boosting salaries for its workers instead of relying on the old bonus system and it says BAC Bank of Am may follow this trend. A story @ WSJ pC8 says JPM among other banks sold bonds without guarantees from FDIC recently to show they are strong enough to tap the capital markets without gov. assistance. At WSJ pC10 a story about large deals said that in the rankings of merger advisers for the first half of the year Golldman Sachs was first followed by JPM, Morgan Stanley third then Citigroup and Bank of Amer Merrill Lynch.

CAT headlines a story, "Catepillar Falls to Lead the Dow Down on the Day" @ WSJ pC6 that also mentions JNJ Johnson & Johnsons loss of .16 down to 58.60 as a result of the $1.67 patent infringement lawsuit it lost. CAT's drop is also noted at USA Today @p4b saying it lost as a result of the Conference Board's sentiment index slumping to 49.3%, 6 ponts below the average forecast. USA Today also said JPM Morgan dropped because gov. data showed prime mortgages 60 days or more past due climbed to 2.9% in the first quarter up from 1.1% same time last year.

IBD @pA2 & AJC pA4 says Abbott will appeal the ruling to pay $1.6 billion to JNJ.

A question is asked @WSJ pC20: "Why did BP try to develop an Iraqui oil field on terms that XOM Exxon Mobil and others rejected?"

WSJ @pD6 reports that two AXP Amex units agreed to pay half a million in fines after being cited by US regulators for unfair practices involving their failure to honor convenience checks.

Fin Times @p14 has a story "Bidders cool on BofA asset manager" saying that BAC may divide Columbia Mangement, the asset management unit it is trying to sell, into two pieces, in an effort to generate a higher price for the business. BAC is trying to get $3 bil. BAC is mentioned in lead story @ NYTimes pB1 Business Day has having a good quarter with its stock soaring 94%, AXP up 71% and MSFT up 29%.

Fin Times @p22 on yesterday's market notes HD Home Depot fell 1% to 3.63, CVX Chevron lost .9% to 66.25, XOM Exxon Mobil lsot 1% to 69.91.

Invest. Bus. Daily @ pA2 and IBd p4 says CSCO Cisco may offer an altenative to MSFT's Microsoft's Office software.

AJC @pA4 says KO's China plant will start production in 2010 and also reports that HD Home Depot has dropped to fourth place in the rankings of the nation's largest retailers while WMT Wal-Mart remains number 1.

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

Tuesday's Dow numerator was 1117.70 down 10.9 from Monday's numerator of 1128.60. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor.

Now, if you divide the Dow decrease of 10.9 in the Dow numerator by the divisor you get 82.38, the decrease in Tuesday's Dow.

The average closing price of Tuesday's Dow Jones was $37.26 down .36 from Monday's average closing price of $37.62. The median closing price of Monday's Dow Jones was $31.88 down $1.10 from Monday's median closing price $32.98.

The highest closing price Tuesday again was IBM $104.42 -1.41 -1.33% 7,201,641 NYSE and the lowest closing price Monday again was AA $10.33 -0.11 -1.05% 35,702,274 NYSE%.

The lowest volume Tuesday was TRV Travelers $41.04 +0.03 + 0.07% vol: 5,358,693 shares and the highest volume was BAC Bank of Am $13.2 +0.01 +0.08% Vol: 304,055,290 shares NYSE.

If Tuesday morning before the market opened you had purchased $100 of each of the Dow 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,080($112,860 - $111,780).

Tuesday's Closing Dow closing numbers:

Symb/Last/Change/% Change/Vol./Market

T $24.84 -0.38 1.51% 27,450,931 NYSE
AA $10.33 -0.11 -1.05% 35,702,274 NYSE
AXP $23.24 -0.76 3.17% 19,639,164 NYSE
BAC $13.2 +0.01 +0.08% 304,055,290 NYSE
BA $42.5 -0.15 0.35% 8,225,285 NYSE
CAT $33.04 -1.70 4.89% 16,758,830 NYSE
CVX $66.25 -0.63 0.94% 12,211,309 NYSE
CSCO $18.65 -0.34 1.79% 51,646,937 NASDAQ-GS
KO $47.99 -0.30 0.62% 15,399,764 NYSE
DIS $23.33 -0.33 1.39% 10,335,098 NYSE
DD $25.62 -0.39 1.5% 7,642,294 NYSE
XOM $69.91 -0.67 0.95% 26,898,197 NYSE
GE $11.72 -0.04 0.34% 86,845,338 NYSE
HPQ $38.65 -0.33 0.85% 16,161,633 NYSE
HD $23.63 -0.24 1.01% 12,441,426 NYSE
INTC $16.55 +0.17 1.04% 63,700,737 NASDAQ-GS
IBM $104.42 -1.41 1.33% 7,201,641 NYSE
JPM $34.11 -0.49 1.42% 39,174,588 NYSE
JNJ $56.8 -0.16 0.28% 15,560,757 NYSE
KFT $25.34 -0.24 0.94% 10,033,015 NYSE
MCD $57.49 +0.26 0.45% 7,248,988 NYSE
MRK $27.96 +0.11 0.39% 21,291,985 NYSE
MSFT $23.77 -0.09 0.38% 65,066,870 NASDAQ-GS
PFE $15 -0.26 1.7% 50,643,316 NYSE
PG $51.1 -1.13 2.16% 14,194,798 NYSE
MMM $60.1 +0.14 0.23% 6,512,600 NYSE
TRV $41.04 +0.03 0.07% 5,358,693 NYSE
UTX $51.96 -0.51 0.97% 6,897,558 NYSE
VZ $30.73 -0.63 2.01% 16,839,251 NYSE
WMT $48.44 -0.32 0.66% 16,659,987 NYSE

Here are the latest SEC filings as of 6/29/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

T AT&T 5/11/09 8K
AA Alcoa 5/13/09 8K
AXP 6/17/08 8K Announcing repurchase of $3.39 of preferred shares from
the U.S. as part of TARP bailout
BAC Bank of Am 6/29/09 8K announcing results of offer to exchange up to 200 million of its shares
BA Boeing 6/26/09 8K announcing grant of options to James A. Bell
CAT Caterpiller 6/18/09 8K Supp. fin. info re: deliveries to
certain customers
CSCO Cisco 6/2/08 S8 Regis. of securities to employees
KO Coke 6/10/09 8K announcing personnel changes
DIS Disney 5/7/09 S8
DD DuPont 5/7/09 8K
XOM Exxon 5/5/09 10Q and 6/19 regarding writeoff for the Valdex judgment
GE 6/12/09 8K Changes to board of directors
HPQ Hewlett-Pack 6/5/09 10Q
HD Home Depot 6/4/09 10Q
INTC Intel 6/26/09 S8
IBM 6/17/09 Proxy by Shareholder
JPM JPMorgan 6/26/09 Freewriting Prospectus re: Return Optimization Securities
JNJ Johnson 5/5/09 10Q
KFT Kraft 6/22/09 8K re: personnel changes
MCD McDonalds 6/11/09 11K Annual report of employee stock
purchase plan
MRK Merck 6/29/09 Proxy update re: Merger w/Schering-Plough
MSFT Microsfot 5/15/09 8K
PFE Pfizer 6/17/09 S4 Effective re: 6/17 Proxy re merger
with Wyeth
PG Procter Gam 6/10/09 8K re: Robert McDonald becoming new CEO
MMM 3M 5/13/09 8K
TRV Travelers 6/2/09 8K re: sale of $500 million of secs.
UTX United Tech 4/24/09 10Q
VZ Verizon 5/26 Free Writing Prospectus for Direct Investment Purch. shareholder .
WMT Wal-Mart 6/5/09 10Q