8/30/09 Sun Bank of Am Securities sued for naked short sales of Taser

Post #81 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.

The Dow Jones Industrial Average closed Friday at 9544.2 down 36.43 or 0.38% from Thursday's close of 9580.63. Of the 30 Dow Companies: 10 gained and 20 declined with the biggest loser being IBM $118.22 -1.21 1.01% 6,209,889 NYSE and the biggest gainer being INTEL INTC $20.25 +0.78 4.01% 104,941,771 NASDAQ-GS. The Dow rose 1.1% for the week.

A read of Sunday's 8/30/09 print editions of: New York Times, Atl Journal Const, and 8/31/09 issue of Barron's 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 Friday's closing price and related data:

AT&T T $26.21 -0.21 0.79% 21,997,644 NYSE: BRN's p31 "Still Dour About Dell, and DOA at Motorola" where author Eric J. Savitz says there really is no reason to be bullish on Dell. Dell awaits a pickup in PC that could result from new chips from Intel or the arrival of Microsoft's Windows 7 and Office 2010. However, Hewlett-Packard recently said it doesn't expect Windows 7 to be a big enough improvement over XP and Vista to spark a major refresh. Savitz alsosays Motrola's last hpe for reviving its fortunes may be in the smartphone sector and quotes MKM partners analyst Tero Kuittinen who says he thought Motorola would launch a family of 5 android based phones two each for AT&T and one for Verizon but says T pulled out and one of the two Verizon phones has been pushed out to '10.

AA $12.5 +0.10 0.81% 20,312,044 NYSE: No mentions found.

AXP $34.24 +0.28 0.82% 10,696,189 NYSE: No mentions found.

Bank of Am BAC $17.98 +0.06 0.33% 187,222,689 NYSE: AJC p1d "Taser investors sue banks" says shareholders of Taser filed a suit in Fulton County, Ga sate court against various banking cliaming the firms engaged in short sales of Taser stock that violated Georgia's securities and reacketeering laws. BAC Securities was one of the investment banks sued. The banks are accused of naked short selling causing the share prices for Taser to drop.

Brns p15 Michael Santoli says that companies like BAC, Citigroup, Fannie Mae, Freddie mac and AIG are said to be driving the surge in the stock market but he is skeptical because these companies have a combiend market value near $200 and the stock market is worth more than $10 trillion that has added another $1 trillion this month.

BRN's p19 "Say Adios to Citi, Hello to the Morgans" says JPM at 43 is trading 7.5 of estimated earnings of $5.70 a share and says JPM is in better shape than Citi with stronger management, better profits and a lack of gov ownership. It says Citigroup is trying to rivial its rivals, bAC, Boldman, JPM, Morgan and Wells, but Citi is smothered by its bad business entities and gov ownership.


Boeing BA $51.04 -0.78 1.51% 11,450,057 NYSE: BRN's says Boeing's 787 Dreamliner is set for its first test flight by year end. BRN's pM6 charts BA again mentioning the test flight.

CAT $46.71 -0.37 0.79% 7,562,470 NYSE: No mentions found.


Chevron CVX $70.68 -0.32 0.45% 7,279,791 NYSE: BRN's p23 "Drip, Dripping Away - Even afte the recession ends, the US gasoline market is unlikely to grow much, if at all. That's bad news for refiners focused on domestic sales" by Kpin Tan who says Americans are likely to keep paying more for gas and using less long after the current economic downturn is history but he says integrated oil giants lie ExxonMobil and Chevorn should do ok because their diversifified operations make them less dependent on any one market.

Cisco CSCO $22 +0.12 0.55% 35,876,840 NASDAQ-GS: BRN's p39 has a favorable story about Expeditors International and notes that among its customers are Cisco and Walmart.

Coke KO $49.06 -0.38 0.77% 6,826,159 NYSE: BRN's p42 has a letter to the editor from Martin Blumberg from Woodbury, NY who says that even though KO has been flat for the past 12 month, its business will improve because management has a great effervescent formula to get this country to pop and so on. Clever letter.

DD $32.56 +0.23 0.71% 6,471,222 NYSE: No mentions found.

Disney DIS $26.84 -0.17 0.63% 9,229,411 NYSE: BRNs p 20 says A&E TV Networks' Walt Disney, Hearst and GE are buying Lifetime Entertainment.

ExxonMobil XOM $70.12 -0.74 1.04% 17,654,968 NYSE: BRN's p23 "Drip, Dripping Away - Even afte the recession ends, the US gasoline market is unlikely to grow much, if at all. That's bad news for refiners focused on domestic sales" by Kpin Tan who says Americans are likely to keep paying more for gas and using less long after the current economic downturn is history but he says integrated oil giants lie ExxonMobil and Chevorn should do ok because their diversifified operations make them less dependent on any one market.

GE $14.08 -0.11 0.78% 73,570,478 NYSE: BRNs p 20 says A&E TV Networks' Walt Disney, Hearst and GE are buying Lifetime Entertainment.

Hewlett-Packard HPQ $44.76 -0.05 0.11% 19,534,247 NYSE: BRN's p31 "Still Dour About Dell, and DOA at Motorola" where author Eric J. Savitz says there really is no reason to be bullish on Dell. Dell awaits a pickup in PC that could result from new chips from Intel or the arrival of Microsoft's Windows 7 and Office 2010. However, Hewlett-Packard recently said it doesn't expect Windows 7 to be a big enough improvement over XP and Vista to spark a major refresh. Savitz alsosays Motrola's last hpe for reviving its fortunes may be in the smartphone sector and quotes MKM partners analyst Tero Kuittinen who says he thought Motorola would launch a family of 5 android based phones two each for AT&T and one for Verizon but says T pulled out and one of the two Verizon phones has been pushed out to '10.

Home Depot HD $27.69 +0.14 0.51% 12,806,127 NYSE: AJC pB1 "Staing one step ahead of storms - In dicey weather, Home Depot disaster boss keeps stores stocked" profiles Corky Martin, the Divisional Merchandise Manager/Hardware Dept who heads up HD's logistical efforts to keep its stores supplied as hurricanes approach the US coast. The story says HD has 1,978 bog box stores, 300,000 employees and more than $70 bil of annual sales.

Intel INTC $20.25 +0.78 4.01% 104,941,771 NASDAQ-GS: BRN's p31 "Still Dour About Dell, and DOA at Motorola" where author Eric J. Savitz says there really is no reason to be bullish on Dell. Dell awaits a pickup in PC that could result from new chips from Intel or the arrival of Microsoft's Windows 7 and Office 2010. However, Hewlett-Packard recently said it doesn't expect Windows 7 to be a big enough improvement over XP and Vista to spark a major refresh. Savitz alsosays Motrola's last hpe for reviving its fortunes may be in the smartphone sector and quotes MKM partners analyst Tero Kuittinen who says he thought Motorola would launch a family of 5 android based phones two each for AT&T and one for Verizon but says T pulled out and one of the two Verizon phones has been pushed out to '10.

IBM $118.22 -1.21 1.01% 6,209,889 NYSE: No mentions found.

JPMorgan JPM $42.92 -0.53 1.22% 27,092,089 NYSE: BRN's p19 "Say Adios to Citi, Hello to the Morgans" says JPM at 43 is trading 7.5 of estimated earnings of $5.70 a share and says JPM is in better shape than Citi with stronger management, better profits and a lack of gov ownership. It says Citigroup is trying to rivial its rivals, bAC, Boldman, JPM, Morgan and Wells, but Citi is smothered by its bad business entities and gov ownership.

JNJ $60.29 -0.20 0.33% 10,869,444 NYSE: No mentions found.

KFT $28.34 -0.08 0.28% 5,953,786 NYSE: No mentions found.

MCD $56.07 -1.09 1.91% 8,662,629 NYSE: No mentions found.

Merck MRK $32.32 -0.55 1.67% 12,049,972 NYSE: BRN's pM6 charts Merck saying their shaes slid nearly 2% Friday on renewed worries over changes in the US helath care system.

Microsoft MSFT $24.68 -0.01 0.04% 55,640,970 NASDAQ-GS: NYT pBus1 lead story is about Microsoft's new ad campaign for Windows, created by Crispin Porter & Bogusky, the Miami agency known for its work for Mini Cooper and Burger King.

BRN's p31 "Still Dour About Dell, and DOA at Motorola" where author Eric J. Savitz says there really is no reason to be bullish on Dell. Dell awaits a pickup in PC that could result from new chips from Intel or the arrival of Microsoft's Windows 7 and Office 2010. However, Hewlett-Packard recently said it doesn't expect Windows 7 to be a big enough improvement over XP and Vista to spark a major refresh. Savitz alsosays Motrola's last hpe for reviving its fortunes may be in the smartphone sector and quotes MKM partners analyst Tero Kuittinen who says he thought Motorola would launch a family of 5 android based phones two each for AT&T and one for Verizon but says T pulled out and one of the two Verizon phones has been pushed out to '10.

PFE $16.81 -0.05 0.3% 33,384,351 NYSE: No mentions found.

PG $53.19 +0.13 0.25% 8,948,196 NYSE: No mentions found.

MMM $71.92 +0.29 0.4% 3,488,085 NYSE: No mentions found.

TRV $49.61 +0.41 0.83% 3,810,917 NYSE: No mentions found.

UTX $59.64 -0.37 0.62% 3,835,157 NYSE: No mentions found.

Verizon VZ $31.02 -0.03 0.1% 13,760,684 NYSEBRN's p31 "Still Dour About Dell, and DOA at Motorola" where author Eric J. Savitz says there really is no reason to be bullish on Dell. Dell awaits a pickup in PC that could result from new chips from Intel or the arrival of Microsoft's Windows 7 and Office 2010. However, Hewlett-Packard recently said it doesn't expect Windows 7 to be a big enough improvement over XP and Vista to spark a major refresh. Savitz alsosays Motrola's last hpe for reviving its fortunes may be in the smartphone sector and quotes MKM partners analyst Tero Kuittinen who says he thought Motorola would launch a family of 5 android based phones two each for AT&T and one for Verizon but says T pulled out and one of the two Verizon phones has been pushed out to '10.

Walmart WMT $51.13 -0.11 0.21% 14,768,415 NYSEBRN's p39 has a favorable story about Expeditors International and notes that among its customers are Cisco and Walmart.

BRN's p33 in a stroya bout natural gas autos says it will be large commercial shippers like Walmart and Pepsi that drive increased use of natural gas on the road.

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