7/3 Fri am JNJ to take 18.4% Stake in Elan

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 Thursdday at 8280.74 down 223.32 down 2.63% from Wednesday's close of 8057.42. All 30 of the Dow 30 declined with the biggest loser being IBM $101.73 -3.11 -2.97% 6,891,371 NYSE.

A read of Friday's 7/3/09 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:

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

NYT B4, AJC A16, WSJ B1 & C5, IBD A9 says that JNJ Johnson & Johnson will pay $1 billion to the Irish biotech company Elan to gain access to alzheimer's disease treatment, investing $1 billion to 18.4% of Elan.

AJC A16: KO coke won several awards including one for a touch screen vending machine at the recent '09 Cannes Lions Int'l Advertising Festival.

WSJ C1: In a story about how boutique investment bankers are grabbing execs from larger firms, an example is given of the recent hire by LPL Investment Holdings hiring away Jeff Fierce from Merrill after it was acquired by BAC Bank of Am.

WSJ C5 Large Stock Focus: In addition to JNJ's acquisition of an Elan stake, HD Home Depot is noted for leading the consumer stocks down yesterday dropping .90 or 3.8% to 40.32 and CVX Chevron being off 2.10 or 3.2% down to 64.42 and also XOM Exxon Mobil falling 2.07 or 2.9% to 68.49 in yesterday's Dow decline.

WSJ B3: BA Boeing will deliver 125 commercial aircraft during the second quarter, 4 more than in the first period and one less than in the year earlier quarter.

Investor's Bus. Daily IBD A5: In a story about how notebooks are replacing desktop PCs, it is reported that the release of MSFT Microsoft's Windows 7 on 10/22 could spark new PC designs because it features built in functionality for touchscreens. Also mentioned in the story is that entry level all-in-one desktops, some of which will use INTC's Intel's Atom processor, will cost $300 to $500.

MSFT and Facebook are each stepping up their initiatives to counter the rise of Twitter according to Fin Times p13. MSFT's Bing on Wed. became the first search engine to show real-time Tweets.

IBD A15 has an editorial entitled "Everyday Job Growth, WalMart Style" that says an exception to the decline of US nonfarm payroll employment is WMT WalMart which has expanded its domestic work force by 2.9% or 40,000 and said it will add 22,000 jobs in its US stores in '09.

Thursday's numerator was 1095.70 down 29.55 from Wednesday's numerator of 1125.25. 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 29.55 in the Dow numerator by the divisor you get 223.32, the decrease in Thursday's Dow.

The average closing price of Thursday's Dow Jones was $36.52 down .99 from Wed's avg. close of $37.51. The median closing price of Thursday's Dow Jones was $28.59 down $3.41 from Wednesday's median close of $32.00.

The highest closing price Thursday was IBM $101.73 -3.11 2.97% 6,891,371 NYSE and the lowest closing price Thursday again was AA $9.86 -0.49 4.73% 29,083,605 NYSE.

The lowest volume Thursday was UTX United Technologies $50.24 -2.04 3.9% vol: 5,428,522 NYSE and the highest volume was BAC Bank of Am $12.64 -0.41 3.14% 209,972,665 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 lost $2,970($112,530 - 109,560).

Thursday's Closing Dow closing numbers:

Symb/Last/Change/% Change/Vol./Market
T $24.59 -0.48 1.91% 26,509,811 NYSE
AA $9.86 -0.49 4.73% 29,083,605 NYSE
AXP $22.27 -0.73 3.17% 12,927,430 NYSE
BAC $12.64 -0.41 3.14% 209,972,665 NYSE
BA $40.83 -1.40 3.32% 7,124,412 NYSE
CAT $31.74 -1.45 4.37% 13,437,781 NYSE
CVX $64.42 -2.10 3.16% 10,504,928 NYSE
CSCO $18.5 -0.30 1.6% 40,882,091 NASDAQ-GS
KO $48.88 -0.30 0.61% 10,886,717 NYSE
DIS $22.84 -0.61 2.6% 15,178,106 NYSE
DD $24.84 -0.96 3.72% 5,236,629 NYSE
XOM $68.49 -2.07 2.93% 22,303,164 NYSE
GE $11.46 -0.32 2.72% 70,161,984 NYSE
HPQ $37.85 -0.83 2.15% 11,748,743 NYSE
HD $22.81 -0.90 3.8% 13,272,446 NYSE
INTC $16.72 -0.32 1.88% 53,983,700 NASDAQ-GS
IBM $101.73 -3.11 2.97% 6,891,371 NYSE
JNJ $55.98 -1.09 1.91% 14,846,418 NYSE
JPM $32.57 -1.20 3.55% 34,916,695 NYSE
KFT $25.96 -0.65 2.44% 10,580,784 NYSE
MCD $57.45 -0.77 1.32% 6,706,158 NYSE
MRK $27.01 -1.04 3.71% 13,830,711 NYSE
MSFT $23.37 -0.67 2.79% 64,404,390 NASDAQ-GS
PFE $14.48 -0.42 2.82% 40,566,424 NYSE
PG $51.11 -0.89 1.71% 14,847,045 NYSE
MMM $60.25 -0.49 0.81% 5,515,070 NYSE
TRV $39.2 -1.93 4.69% 6,282,266 NYSE
UTX $50.24 -2.04 3.9% 5,428,522 NYSE
VZ $30.18 -0.64 2.08% 12,463,241 NYSE
WMT $47.79 -0.58 1.2% 19,728,164 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