7/13/09 Mon A INtC, JNJ, IBM, JPM BAC, GE Report Earnings This Week

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. BETA ON THIS DOW MONITOR BLOG WILL END WITH TUESDAY'S POSTINGS AND THE OFFICIAL LAUNCH OF THIS DOW MONITOR BLOG WILL START WEDNESDAY JULY 15, 2009.

The Dow closed Friday at 8146.52 down 36.65 or 0.45% from Thursday's close of 8183.17and down 1.6% for the week. Eleven of the Dow 30 gained, and 19 declined with the biggest gainer being AXP Amex$23.22 +0.42 1.84% 14,455,990 NYSE and the biggest loser being CVX Chevron $61.4 -1.68 2.66% 16,695,136 NYSE.

A read of Monday's 7/10/09 print editions of: Wall Street Journal (also Sat's 7/11), New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily (this was reported on Friday) and USA Today and 7/13/09 Barron's yielded the following stories about Dow Jones 30 component companies:

NYT pB4 and Barron's p13 said INTC Intel, JNJ Johnson & Johnson will report earnings on Tues., IBM JPM JPMorgan Chase on Thurs. and BAC Bank of am. and GE on Friday. Also on Thurs. Henry M. Paulson, former Treasury sec', will testify before the House Committee on Oversight and Gov. Reform about the gov's role in BAC's acquisition of Merrill Lynch.

Fin Times p22 in a story about this week's earnings reports predicts INTC, JNJ, IBM, JPM, BAC and GE's earnings; for example in discussing GE it says GE's shares have rebounded from its low in March when GE lost its pristine credit rating.

NYT pB2 says GE Capital is following an outdated business model and compares it to CIT. GE is the "single biggest exploiter" of the Temporary Liquidity Guarantee Program having issued $109 billion in bonds.

NYT C5 says GE's Universal studio's Bruno opened strong but will not do as well as Borat. Univesal has had disastrous results for its "land of the Lost" and "Public Enemies" and there is speculation about the future of its management.

WSJ pB4 says that Hong Kong lawmakes approved a gov. paln to expand the city's Disneyland at a cost of about $465 million.

NYT A17 (not the business section) has an excellent article about the illogic of Chrome vs. Bing and why Google is launching Chrome, which is to prevent MSFT Microsoft from "inadvertently" disabling Google. Similar theme is sounded in Barron's p23 in an article, "The Folly of Google's Latest Gambit."

Fin Times p14, "Microsoft to step up Google battle" says MSFT is set to broaden its battle with Google as it pushes ahead with online versions of some of its core software, including final plans for a "cloud" operating system designed to extend Windows to the Internet.

WSJ B5 "Microsoft Pitches Razorfish Deal to Big Agencies -Discussions Are Latest Move in Quest to Compete with Google". Article says it is trying to sell its digital ad agency Razorfish and to sell the use of its MSFT's advertising technologies in a pitch to 5 major ad agencies.

WSJ C1 says jobless recovery will impact the stock market and says WMT WalMart will do better in the near term that the more upscale Nordstrom and MCD will also do well to budget conscious consumers.

USA Today p3B says MCD plans a big promotion for its Monopoly game and will start a 29 day prommotion on ay Leno's show on Oct. 6

Barron's p7 in an article about what a bargain Berkshire Hathaway is, notes that Buffet has a large stake in AXP AmerEx and that AXP has fallen more than 50% off its high.

Barron's P15 says its bulllish on BAC Bank of Am and also lists in its Bullish list VZ Verison and HD Home Depot.

WSJ 7/11 says CVX Chevron finished lower after a profit warning from CVX pushing the Dow off 1.6% for the week and at pB3 it said CVX fell 2.7% to 61.40 after CVX said that poor profits at refineries and the financial impact of a weakening US dollar will dampen the boon it gained from high crude oil prices int he second quarter.

Barron's pM12 said INTC Intel is a buy due to ease of compnent supply constraints and the start of back to school sales of notebook shipments. It lists MCD McDonald's as a strong buy because its shares ahve declined 8% so far in '09. MCD is said to be moving its Eurpoean headquarters from London to Geneva in order to save corporate taxes per WSJ pB4. This also reported at Fin Times p15.

Barron's p26 has an article aboutcompanies with a direct stake in the walk in clinic business and includes WMT WalMart in a story about how Obama-Care will increase business to these clinics.

WSJ pA3 "Trade Group Challenges WalMart on Health Care" saying the retail industry's biggest trade group, the National Retail Federation" is launching a broad attack against WMT for supporitng congressional proposals requiring employers to help pay for health insurance.

The high rate of adjustable rate mortgage defaults will result in losses for JPM JPM Morgan per WSJ pC2 while WSJ pC3 quotes a Barcaly's analyst who says because of heavy construction lending, JPM is well positioned for a recovery.

WSJ's Heard on the Street pC6 in a story about the iPhone's many applications that mentions the amount of money spend on R&D by tech companies such as MSFT.

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

Friday's Dow numerator was 1077.94 down 4.85 from Thursday's closing numerator of 1082.79. 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 4.85 in the Dow numerator by the divisor you get 36.65, the decrease in Thursday's Dow.

The average closing price of Friday's Dow Jones was 35.93 down 0.16 from Thursday's avg. closing price of 36.09. The median closing price of Thursday's Dow Jones was 29.57 up 0.26 from Thursday's median closing price of 29.31.

The highest closing price Friday was IBM $100.83 -1.25 1.22% 7,333,171 NYSE and the lowest closing price Friday again was AA Alcoa $9.34 -0.11 1.19% 32,535,857 NYSE.

The lowest volume Friday was TRV Travelers $39 -0.05 0.13% 3,529,939 NYSE and the highest volume was BAC Bank of Am $11.88 -0.09 0.75% 209,791,141 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 $480 ($108,270 - $107,790).

Friday's Closing Dow closing numbers:

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

T $23.44 -0.06 0.26% 21,488,257 NYSE
AA $9.34 -0.11 1.19% 32,535,857 NYSE
AXP $23.22 +0.42 1.84% 14,455,990 NYSE
BAC $11.88 -0.09 0.75% 209,791,141 NYSE
BA $39.65 +0.35 0.89% 5,773,001 NYSE
CAT $30.53 -0.12 0.39% 10,379,343 NYSE
CVX $61.4 -1.68 2.66% 16,695,136 NYSE
CSCO $18.34 +0.17 0.94% 46,082,427 NASDAQ-GS
KO $48.31 -0.40 0.82% 7,719,416 NYSE
DIS $22.41 -0.12 0.53% 10,987,397 NYSE
DD $24.61 +0.11 0.45% 5,203,174 NYSE
XOM $65.12 -0.85 1.29% 25,685,945 NYSE
GE $10.78 -0.08 0.74% 69,160,576 NYSE
HPQ $37.24 -0.06 0.16% 11,192,219 NYSE
HD $22.52 -0.16 0.71% 9,760,452 NYSE
INTC $16.04 +0.02 0.12% 50,754,256 NASDAQ-GS
IBM $100.83 -1.25 1.22% 7,333,171 NYSE
JPM $32.34 -1.28 3.81% 50,101,600 NYSE
JNJ $56.93 +0.24 0.42% 13,520,017 NYSE
KFT $26.08 +0.28 1.09% 8,437,694 NYSE
MCD $57.05 +0.28 0.49% 6,692,589 NYSE
MSFT $22.39 -0.05 0.22% 42,796,747 NASDAQ-GS
MRK $26.45 -0.56 2.07% 17,794,351 NYSE
PFE $14.2 -0.09 0.63% 38,496,904 NYSE
PG $52.22 -0.19 0.36% 9,116,241 NYSE
MMM $59.79 +0.70 1.18% 3,891,768 NYSE
TRV $39 -0.05 0.13% 3,529,939 NYSE
UTX $49.64 -0.01 0.02% 4,772,989 NYSE
VZ $28.62 -0.02 0.07% 12,531,864 NYSE
WMT $47.57 -0.51 1.06% 15,865,651 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