7/6 am Street Waits for INTC & CSCO Earnings

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 was closed Friday. 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 Monday's 7/6/09 print editions of: Wall Street Journal, New York Times, Atlanta Journal Constitution, Financial Times, Investor's Business Daily (their Friday issue is dated Monday, already reported on Fri in this Dow Monitor Blog) and USA Today yielded the following stories about Dow Jones 30 component companies:

WSJ C1 has a story about how technology companies are under the spotlight as the second quarter earnings seasons begins this week. INTC Intel and CSCO Systems are named as being particularly watched because they are considered good barometers of the business cycle.

The chip industry is the subject of a NYTimes story @pb3 in a story about Micron Technology that says it will survive despite its 10th consecutive quarterly loss because cash flow is improving. Rival MSFT Microsoft is mentioned as about to release a major upgrade of its Windows software which runs most of the world's PCs and this should prompt many PC users to buy new machines that will be equipped with better memory chips made by Micron and others.

USA Today p2B has a story about investment banker Allen & Co's annual media summit in the Idaho mountains that says MSFT Microsoft, despite investing billions, still can't udnercut Google's dominance of the lucrative Internet search market.

WSJ C1 reports that Wells Fargo is going to beef up its securities business and mentions that Wells avoided the investment banking and capital markets business that banks such as JPM JPMorgan Chase had embraced but now that Wells bought Wachovia securities it is embracing securities.

NYTimes A3, Fin Times p2 and AJC pA3 reports that two monorail trains at DIS Walt Disney World in Orlando crashed killing one train's operator.

DIS is also in the news NYT @pB4 in an article about how ESPN, a Disney network, is about to present soccer in Britain having bought the rights last month to show live English Premier League matches. The article says ESPN is under pressure to win viewers quickly.

NYT 2B3 has a whimsical article that asks 20 satirical questions about advertising, marketing, mdedia and popular culture. Mentioned and spoofed a bit are MSFT Microsoft, WMT WalMart, and PG Procter & Gamble's new discount Tide.

Fin Times p14 says BAC Bank of Am has overtaken UBS to take the top spot in the world's private banking league tables following its purchase of Merrill to be #1. JPM JPmorgan is 6th among the world's top 10 private banks.

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


Thursday's Dow 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