8/27/09 am Tivo sues Verizon & AT&T over DVR Patents

Post #76 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. Towards the end of the Blog you will find an update of the Dow Jones 30 company recent filings with the SEC which includes the news that DuPont has elected a new CEO effective, Nicholas C. Fanandakis who replaces Ellen Kullman effective 9/1/09, leaving only Kraft among the Dow 30 with a female CEO, Irene Rosenfeld.

The Dow Jones Industrial Average closed Wednesday at 9543.52 up 4.23 or 0.04% from Tuesday's close of 9539.29. Of the 30 Dow Companies: 18 gained and 12 declined with the biggest loser being 3M MMM $71.42 -1.26 1.73% 4,702,718 NYSE and the biggest gainer being ExxonMobil XOM $71.37 +0.69 0.98% 18,759,955 NYSE.

A read of Thursday's 8/27/09 print editions of: Wall Street Journal, Financial Times, New York Times, Investors Business Daily, Atl Journal Const, and USA Today yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Tuesday's closing price and related data:

Dow: NYT pB9 "Summertime, and the Markets Are Fluctuating - An Indecisive Day, and a Flat Close" says stocks finished a choppy day of trading Wed., mostly higher after positive reports on home sales and factory orders.

Fin Times p22 "Caterpillar, GE and Honeywell caught in industrial sell-off" says US stocks closed a whisker highe after a choppy day of trade yesterday as ivnestors digested a varied set of economic data. CAT, dropped 1.2% and GE was also caught up in the selling, in spite of a $2.7bn contract to build a power plant in Kuwait and reports of a possible $2bn sale of its security unit. JPMorgan lost 0.6%.

USA Today p4B "Stocks edge higher as caution creeps in" says stocks finished a choppy day of trading Wed. mostly higher following positive reports on home sales and factor orders.

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

Wednesday's Dow Jones Industrial Average closing numerator was 1262.79 up 0.56 from Tuesday's closing Dow numerator of 1262.23. 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 0.56 by the divisor you get 4.23, the increase in Wednesday's Dow close.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 42.09 up 0.02 from Tuesday's Dow Jones Industrial Average closing price of 42.07. The median closing price of Wednesday's Dow Jones Industrial Average was 38.22 down 0.05 from Tuesday's Dow Jones median closing price of 38.27.

The highest closing price Wednesday again was IBM $119.47 +0.64 0.54% 4,512,133 NYSE and the lowest closing price Wednesday again was Alcoa AA $12.26 -0.09 0.73% 28,607,594 NYSE.

The lowest volume Wednesday was Travelers TRV $48.79 +0.36 0.74% 3,888,264 NYSE and the highest volume again was BAC BofAm $17.79 +0.04 0.23% 202,952,852 NYSE.

If Wednesday morning before the market opened you had purchased $100 of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $60
($126,270 - $126,210)

AT&T T $26.51 +0.21 0.8% 26,681,526 NYSE: AJC pA16 "TiVo Inc. sues Verizon, AT&T over DVR patents" says TiVo Inc. sued T and VZ for patent infringement, including one covering the ability to pause and rewind live TV. Suit is in US dist. Ct. in E. Dist. of Tex. seeking damanges and injunctions; also at WSJ B4 "TiVo Goes To Battle Over Patents" and USA Today pB1.

Also at USA Today p1B Apple, Facing Competition, Readies iPhone for Launch in Giant China Market" says in China most users prefer to preay for services; Average monthly rev per user in China is less than $6 compared with about $60 for AT&T, the exclusive iPhone provider in the US.

Inv. Bus Daily pA5 "FCC Expected To Give Go Ahead For Braod Look AtWireless Field" says the FCC is expected to approve three broad ranging inquiries on the wireless indsutry that could spur competition and innovation. The move will pit consumer groups against AT&T, Verizon and other wireless firms.

AA $12.26 -0.09 0.73% 28,607,594 NYSE: No mentions found.

AXP $33.14 +0.32 0.98% 9,306,001 NYSE: No mentions found.

Bank of Am BAC $17.79 +0.04 0.23% 202,952,852 NYSE: WSJ pD1 "Mortgage Fraud: A Classic Crime's Latest Twists - As Reverse Loans Grow More Popular, Scams Put Older Adults at Risk" says there are cases of people stealing more than $1 mil from several reverse mortgage holders from title agens who don't sent the pay-off money to the original lenders such as BAC.

Inv. Bus. Daily pA2 says BAC and Robert McCann, Merrill Lynch's former head of ealth management, are in talks to settle a suit over a noncompete clause.

Boeing BA $47.82 -0.43 0.89% 3,949,028 NYSE: Boeing may expand S. Carolina plant for 787s" says BA is seeking to expand its South Carolina plant, one of several being considered for ana ssembly line for its 787 so Ba can have greater control over the production process. Also reported at Inv. Bus. Daily pA2.

Caterpillar CAT $47.25 -0.58 1.21% 7,876,042 NYSE: WSJ pB2 "Walgreen to Provide Drugs to Caterpillar" says Walgreen will offer prescription drugs directly to Caterpillar for workers and retirees starting Jan. 1, expanding an unusual approach to cutting corporate health care costs. CAT already has a pilot program with WalMart that was scheduled to end Jan. 1, but CAT said it will extend that for 2 years. WMT said it has added other companies to the program it is testing with CAT but didn't say who. Walgreen already manages a network of onsite health care centers for major companies including Disney and Toyota.

Fin Times p22 "Caterpillar, GE and Honeywell caught in industrial sell-off" says US stocks closed a whisker highe after a choppy day of trade yesterday as ivnestors digested a varied set of economic data. CAT, dropped 1.2% and GE was also caught up in the selling, in spite of a $2.7bn contract to build a power plant in Kuwait and reports of a possible $2bn sale of its security unit. JPMorgan lost 0.6%.

Chevron CVX $71.09 +0.44 0.62% 7,228,898 NYSE: Fin Times p13 "Gorgon go-ahead rallies oil groups" says Australia's decision to grant the Gorgon gas project environmental approval may be one of the most important events of the year for three of the world's biggest energy groups and offers Australia a chance to be the world's top liquid natural gas producer. Chevron and ExxonMobil and Shell are involved in the project.

CSCO $21.93 -0.07 0.32% 33,518,406 NASDAQ-GS: No mentions found.

Coke KO $49.18 +0.44 0.9% 6,774,245 NYSE: WSJ pB10 "Coconut Water Bubbles - Drink Makers ramp Up Ad Campaigns for iche Market" says eventually coconut water branks will be offered by giants like KO and Pepsi.

DD $32.38 -0.02 0.06% 4,664,217 NYSE: No mentions found.

Disney DIS $27 +0.13 0.48% 10,543,052 NYSE: WSJ pB2 "Walgreen to Provide Drugs to Caterpillar" says Walgreen will offer prescription drugs directly to Caterpillar for workers and retirees starting Jan. 1, expanding an unusual approach to cutting corporate health care costs. CAT already has a pilot program with WalMart that was scheduled to end Jan. 1, but CAT said it will extend that for 2 years. WMT said it has added other companies to the program it is testing with CAT but didn't say who. Walgreen already manages a network of onsite health care centers for major companies including Disney and Toyota.

XOM $71.37 +0.69 0.98% 18,759,955 NYSE: Fin Times p13 "Gorgon go-ahead rallies oil groups" says Australia's decision to grant the Gorgon gas project environmental approval may be one of the most important events of the year for three of the world's biggest energy groups and offers Australia a chance to be the world's top liquid natural gas producer. Chevron and ExxonMobil and Shell are involved in the project.

GE $14.11 -0.19 1.33% 66,363,649 NYSE: WSJ pB1 "Clunkers Sequel Rattles Appliance Producers" says a sequel to the Clunkers program called dollars for dish washers is a $300 mil program funded through the fed. gov.'s economic stimulus plan. It is intended to spur sales of energy efficient appliances but its small size will provide only a minor boost for struggling appliance makers such as GE, Whirlpool and Sweden's Electrolux.

Fin Times p12 NBC hires UK producer to expand overseas" says GE's NBC Universal has hired Denise O'Donoghue, one of UK's most prominent independent tv producers, to revive its international expansion plans.

Fin Times p22 "Caterpillar, GE and Honeywell caught in industrial sell-off" says US stocks closed a whisker highe after a choppy day of trade yesterday as ivnestors digested a varied set of economic data. CAT, dropped 1.2% and GE was also caught up in the selling, in spite of a $2.7bn contract to build a power plant in Kuwait and reports of a possible $2bn sale of its security unit. JPMorgan lost 0.6%.

HPQ $44.48 -0.20 0.45% 14,259,109 NYSE: No mentions found.

HD $27.57 +0.25 0.92% 15,566,396 NYSE: No mentions found.

INTC $19.43 +0.33 1.73% 61,450,840 NASDAQ-GS: No mentions found.

IBM $119.47 +0.64 0.54% 4,512,133 NYSE: Inv Bus Daily pA4 "Phishing Sinks, Says New IBM Security Report" says IBM issued a report that shows a big drop in the volume of phishing emails, in which fraud artists and what looks like a legit message from a bank or some otehr company.

JPM $43.3 -0.28 0.64% 31,867,592 NYSE: No mentions found.

Johnson & Johnsonn JNJ $60.63 -0.51 0.83% 10,835,687 NYS: AJC pA16 "J&J warns of allergic reactions with HIV drug" says JNJ warned about reports of potentially deadly allergic reacitons in patients taking its HIV drug Intelence.

Fin Times p22 "Caterpillar, GE and Honeywell caught in industrial sell-off" says US stocks closed a whisker highe after a choppy day of trade yesterday as ivnestors digested a varied set of economic data. CAT, dropped 1.2% and GE was also caught up in the selling, in spite of a $2.7bn contract to build a power plant in Kuwait and reports of a possible $2bn sale of its security unit. JPMorgan lost 0.6%.

KFT $28.46 -0.14 0.49% 8,260,145 NYSE: No mentions found.

MCD $57 +0.55 0.97% 8,251,249 NYSE: No mentions found.

MRK $32.68 -0.27 0.82% 9,955,496 NYSE: No mentions found.

Microsoft MSFT $24.55 -0.09 0.37% 41,054,386 NASDAQ-GS: AJC pA16 'Nokia finalizes plans for Booklet 3G laptops" says the Finnish company says the Noki Booklet 3G will run Microsoft's Windows software (this was widely reported in yesterday's media and Blog).

WSJ pD1, Inv. Bus Daily pA4 and USA Today p5B has an article about Apple's migration from its MAC OS X Leopard operating system to Snow Leopard that taks about Microsoft Exchange utility for work email, calendars, and contacts.

PFE $16.77 -0.03 0.18% 36,511,215 NYSE: No mentions found.

PG $53.36 -0.04 0.07% 9,376,042 NYSE: No mentions found.

MMM $71.42 -1.26 1.73% 4,702,718 NYSE: No mentions found.

TRV $48.79 +0.36 0.74% 3,888,264 NYSE: No mentions found.

UTX $59.77 +0.06 0.1% 3,661,348 NYSE: No mentions found.

Verizon VZ $31.48 +0.17 0.54% 12,474,576 NYSEAJC pA16 "TiVo Inc. sues Verizon, AT&T over DVR patents" says TiVo Inc. sued T and VZ for patent infringement, including one covering the ability to pause and rewind live TV. Suit is in US dist. Ct. in E. Dist. of Tex. seeking damanges and injunctions. Also at USA Today p1B & also at WSJ B4 "TiVo Goes To Battle Over Patents" and USA Today.

Inv. Bus Daily pA5 "FCC Expected To Give Go Ahead For Braod Look AtWireless Field" says the FCC is expected to approve three broad ranging inquiries on the wireless indsutry that could spur competition and innovation. The move will pit consumer groups against AT&T, Verizon and other wireless firms.

Walmart WMT $51.8 +0.13 0.25% 14,291,552 NYSE: WSJ pB2 "Walgreen to Provide Drugs to Caterpillar" says Walgreen will offer prescription drugs directly to Caterpillar for workers and retirees starting Jan. 1, expanding an unusual approach to cutting corporate health care costs. CAT already has a pilot program with WalMart that was scheduled to end Jan. 1, but CAT said it will extend that for 2 years. WMT said it has added other companies to the program it is testing with CAT but didn't say who. Walgreen already manages a network of onsite health care centers for major companies including Disney and Toyota.

Here are the latest SEC filings as of 8/24/09 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 8/17/09 8K annoucning a settlement with he Int'l Communications Works (IBEW) for a 3 year contract covering 8.900 employees in Illinois and Indiana subject to members' approval.
AA Alcoa 7/13/09 8K 2nd Quarter Earnings Results
AXP 8/17/09 8K furnishing owned and managed basis delinquency and write-off statistics for the lending portfolio of its U.S. Card Services (“USCS”) operating segment for the months ended May 31, June 30 and July 31, 2009.
BAC Bank of Am in addition to two 424 Prospectuses and a free writing prospectus regarding issuance of notes, on 8/21/09 8K BAC appointed Robert W. Scully to its board of directors and he is expected to serve on the Asset Quality and Compensation and Benefits Committees of the Board.
BA Boeing 7/28/09 8K On July 28, 2009, BA issued $750,000,000 in aggregate principal amount of 3.500% Senior Notes due 2015, $750,000,000 in aggregate principal amount of 4.875% Senior Notes due 2020 and $450,000,000 in aggregate principal amount of 5.875% Senior Notes due 2040.
CAT Caterpiller 8/20/09 8K CAT filed Reg FD information concerning deliveries to users for its Machinery and Engines lines of business.
CVX Chevron 8/5/09 10Q
CSCO Cisco 8/5/09 8K CSCO reported its results of operations for its fiscal fourth quarter and fiscal year 2009 ended July 25, 2009.
KO Coke 7/30/09 10Q
DIS Disney 7/30/09 10Q
DD DuPont 8/13/09 8K On 8/11/09 DD named Nicholas C. Fanandakis, age 53, Senior Vice President & Chief Financial Officer & Chief Executive effective September 1, 2009 with an increase in annual salary from $387,708 to $500,000 and target short-term incentive award for 2009 will increase from $328,500 to $464,100. Mr. Fanandakis was named to his current position, Group Vice President- Applied BioSciences, in January 2008. Prior to that, he was vice president and general manager- DuPont Chemical Solutions Enterprise from September 2003 through September 2006 and vice president- Corporate Plans from October 2006 through December 2007. Jeffrey L. Keefer, EVP and Chief Financial Officer, will remain EVP and transition from the position of Chief Financial Officer to assume leadership responsibility for the Company’s Performance Coatings business, corporate strategy development, Information Technology and overall cost and working capital productivity efforts effective November 1, 2009.
Richard R. Goodmanson, EVP and Chief Operating Officer has elected to retire from the Company effective September 30, 2009.
XOM Exxon 8/5/09 10Q
GE 8/4/09 8K GE reached a settlement with the SEC & consented to a judgment of a fine of $50 million relating to four accounting matters arising in 2002 - 2003: the application of SFAS 133 to GE’s since-discontinued commercial paper hedging program and, separately, to certain swap derivatives where fees were paid or received at inception; a change in accounting for profits on spare parts in the commercial aviation engine business; and certain year-end transactions in the Rail business.
HPQ Hewlett-Pack 8/18/09 8K re: release of 731/09 3Q results
HD Home Depot 8/18/09 8K re: release of July 31, 2009 3Q results & 8/21 Form ASR automatic shelf registration for debt securities
INTC Intel 8/3/09 10Q
IBM 7/28/09 10Q
JPM JPMorgan 8/25/09 Free Writing Prospectus relating to reverse convertible securities
JNJ Johnson 8/4/09 10Q
KFT Kraft 8/5/09 10Q
MCD McDonalds 8/11/09 re: press release "McDonald’s Reports Global Comparable Sales Up 4.3% in July"
MRK Merck 8/3/09 Sched 14A proxy material re: updated of acquisition of Schering-Plough
MSFT Microsoft 68/24/09 Securities to be offered to employees in employee benefit plans
PFE Pfizer 8/6/09 10Q
PG Procter Gam 8/25/09 424 Prospectus re: Notes due 2015
MMM 3M 8/5/09 3M contributed 8,329,862 shares of its common stock with a corresponding dollar value of approximately $600 million to its defined benefit pension plan, the 3M Employee Retirement Income Plan, made from treasury stock.
TRV Travelers 8/5/09 10Q/A Amended 10Q
UTX United Tech 7/24/09 10Q
VZ Verizon 7/30/09 10Q
WMT Wal-Mart 8/13/09 8K re 7/31/09 2Q report of earnings 0Q

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 Nicholas C. Fanandakis replaces Ellen Kullman 9/1/09
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