Thursday, September 10, 2009

9/10/09 am Thurs FDA Supports Expansion of Merck's Gardasil to Males

The following is not intended as advertising by a broker-dealer and is not a research report.

Post #99 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 this Blog is an update of the Dow 30's most recent SEC filings.

A read of Thursday's 9/10/09 print editions of: Wall Street Journal, Financial Times, Investors Business Daily, New York Times, Atl Journal Const, & 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 Wednesday's closing price and related data:

Dow: WSJ pC1 "Blue Chips Gain 49.88, Near '09 High" by Peter A. McKay says industrial stocks led a modest rally, helped by upbeat analyst comments and investors' budding hopes for a global economic recovery. GE rose 2.6% after Goldman Sachs analysts upgraded their view of multiindustry stocks to eattractive from neutral.

WSJ pC5 "Large Stock Focus - Caterpillar and EBay Head North" by Geoffrey Rogow" says another round of buying in industrials, including Caterpillar and GE, spurred stocks higher Wed, while an upgrade for SanDisk helped keep tech stocks in the green.

NYT pB11 "Stocks & Bonds - After Fed Report, Shares Extend Rally to 4 Days" says the stock market extended its gains to a fourth day after the Fed Reserve said the economy was stabilizing.

The Dow Jones Industrial Average closed Wednesday at 9547.22 up 49.88 or 0.53% up 56.07 or 0.59% from Tuesday's close of 9497.34. Of the 30 Dow Companies: 19 gained and 11 declined with the biggest loser being McDonalds MCD $55.09 -1.13 2.01% 17,731,578 NYSE and the biggest gainer being 3M MMM $73.18 +1.49 2.08% 4,757,853 NYSE.

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 1263.28 up 6.6 from Tuesday's closing Dow numerator of 1256.68. 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 6.6 by the divisor you get 49.88, the increase in Wednesday's Dow close.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 42.11 up 0.22 from Tuesday's Dow Jones Industrial Average closing price of 41.89. The median closing price of Wednesday's Dow Jones Industrial Average was 38.48 up 0.46 from Tuesday's Dow Jones median closing price of 38.02.

The highest closing price Wednesday again was IBM $116.76 -0.40 0.34% 5,210,043 NYSE and the lowest closing price Tuesday again was Alcoa AA $12.81 +0.21 1.67% 22,262,533 NYSE. The lowest volume Wednesday again was Travelers TRV $49.14 +0.17 0.35% 4,524,421 NYSE and the highest volume again was Bank of Am BAC $17.04 +0.02 0.12% 153,713,942NYSE.

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 $660
($126,330 - $125,670)

AT&T T
$25.94 +0.19 0.74% 18,972,797 NYSE: WSJ pB9 "Palm Unveils Cheaper Phone in Turnaround Drive - Thin Pixi Is Positioned as Latest Alternative to Such Rivals as Apple's iPHone; Company Reduces Pre's Price" by Yukari Iwatani Kane & Roger Cheng says Palm unveiled a thinner, less expensive smart phone called the Pixi, part of Palm's effort to turn itself around. This comes 3 months after Palm launched its Pre phone. Some analysts said they were disappointed the Pixi won't be sold through either AT&T or Verizon Wirelss, exposing the device and Palm's software to a new pool of potential customers.

WSJ pD1 Walter Mossberg's column tested 4 gps apps on the iPhone available from Tom-Tom, Navigon, AT&T and Fullpower and says T's navigator's iPhone version downloads maps and info on the fly but it takes up less space on the phone than the competition but it means you need a good connection at the start of a trip. Its interface is clean and it has a route summary and the app is free but usage costs $10 a month.

NYT pB11 "Faster AT&T in 6 Cities By Year Bnd" by Roy Furchgott says AT&T said it would make improvements that would double the speed of its wireless network in Chicago, Dallas, Houston, Los Angeles, Miami and Chrlotte by end of year with a new technology called High Speed Packet Access 7.2 which is scheduled for installation in 25 cities by the end of '10.

AXP $34.09 +0.60 1.79% 10,179,569 NYSE: No mentions found.

AA $12.81 +0.21 1.67% 22,262,533 NYSE: No mentions found.

Bank of Am BAC $17.04 +0.02 0.12% 153,713,942 NYSE: WSJ pC3 "BofA Fires Back at Cuomo Over Merrill - Bank's War of Words Continues With NY Atty Gen'l After "Spurious" Charges" by Dan Fitzpatrick & Kara Scannell says BAC rejected claims it is hiding behind its lawyers in a letter to Mr. Cuomo from Lewis Liman, an attorney representing BAC.

NYT pB2 "SEC Defends Deal in Merrill Takeover" & AJC pA12 say the SEC defended its proposed $33 mil settlement with BAC in a fed court filing yesterday before Judge Jed S. Rakoff.

WSJ pA4 "Mortgage Aid Plan Gets Tepid Results" by Ruth Simon & Jessica Holzer says just 12% of eligible borrowers have started trial loan modifications under the Obama admin's $75 bil mortgage foreclosure prevention plan. Among large mortgage services, Bank of Am and Wells Fargo have started trial modifications for 7% and 11% respectively of their eligible borrowers who are at least 60 days past due. JPM has started trial modifictions for 25% of eligible borrowers and Citigroup 23%.

BA $50.53 +1.03 2.08% 5,872,877 NYSE: No mentions found.

Caterpillar CAT
$48.41 +1.44 3.07% 12,308,773 NYSE: WSJ pC5 "Large Stock Focus - Caterpillar and EBay Head North" by Georfrey Rogow" says another round of buying in industrials, including Caterpillar and GE, spurred stocks higher Wed, while an upgrade for SanDisk helped keep tech stocks in the green.

CVX $70.33 -0.15 0.21% 7,937,513 NYSE: No mentions found.

Cisco CSCO
$22.23 +0.31 1.41% 44,539,303 NASDAQ-GS: WSJ pB1 "Steve Jobs Retakes The Stage For Apple" by Yukari Iwatani Kane & Jessica Hodgson says Jobs appeared in public for the first time since Apple's ceo received a liver transplant earlier this year. Jobs lowered the starting price of its iPod Touch device which is an iPhone without cell phone capability to $199. The new iPod Nano starts at $149 & comes with an FM receiver and pedometer in addition to video camera but no still camera. Jobs compared the iPod Nano to Cisco's popular Flip camcorder.

Coke KO
$50.63 +0.22 0.44% 7,864,848 NYSE: "WSJ pB1 Suntory Nears Deal to Buy Orangina" by Dana Cimillua & Pater Lattman says Japanese beverage giant Suntory Holdings Ltd. is close to a deal to acquire Orangina, maker of the famed soft drink at a price more than the $2.6 bil paid for the company in '06 by Blackstone Group and Lion Capital. It would be the second substantial European consumer deal since Kraft's bid for Cadbury. Story notes that France blocked Coke from buying Orangina from Pernod Ricard in '98.

Disney DIS
$26.95 +0.67 2.55% 18,882,532 NYSE: WSJ pB10 "Warner Bros. Takes DC Comics More Closely Under Its Wing" by Lauren A. E. Schuker says Time Warner is folding its comic book unit, DC Comics, into its movie studio and renaming the operation DC Entertainment just a week at Disney agreed to buy Marvel.

Similar story at NYT pB5 "DC Comics Revamped Under a New President" by Edward Wyatt saying Diane Nelson is the new president of DC Entertainment.

DD $31.36 -0.47 1.48% 9,013,077 NYSE: No mentions found.

XOM $70.5 -0.15 0.21% 19,563,791 NYSE: No mentions found.

GE $14.87 +0.37 2.55% 152,538,058 NYSE: WSJ pC1 "Blue Chips Gain 49.88, Near '09 High" by Peter A. McKay says industrial stocks led a modest rally, helped by upbeat analyst comments and investors' budding hopes for a global economic recovery. GE rose 2.6% after Goldman Sachs analysts upgraded their view of multiindustry stocks to eattractive from neutral.

WSJ pC5 "Large Stock Focus - Caterpillar and EBay Head North" by Georfrey Rogow" says another round of buying in industrials, including Caterpillar and GE, spurred stocks higher Wed, while an upgrade for SanDisk helped keep tech stocks in the green.

NYT pB1 "A Healthy Dose of Bytes - With US Help, Tech Firms Push to Computerize Pateint Histories" by Steve Lohr says the goal of moving paper medical records into the digital age has been helped by the Obama Admin's injection of $19 bil in the recovery package to encourage doctors and hospitals to install and use electronic health records. companies working on this technology include IBM and GE.

HPQ $45.98 +0.51 1.12% 16,393,811 NYSE: No mentions found.

HD $27.38 -0.10 0.36% 10,452,374 NYSE: No mentions found.

INTC $19.93 +0.13 0.66% 48,206,153 NASDAQ-GS: No mentions found.

IBM $116.76 -0.40 0.34% 5,210,043 NYSE: NYT pB1 "A Healthy Dose of Bytes - With US Help, Tech Firms Push to Computerize Pateint Histories" by Steve Lohr says the goal of moving paper medical records into the digital age has been helped by the Obama Admin's injection of $19 bil in the recovery package to encourage doctors and hospitals to install and use electronic health records. companies working on this technology include IBM and GE.

NYT pB3 "Faberge Name Returns With a New Collection" by Julia Werdigier says Faberge made a comeback Wed when it presents it frist jewelry collection in more than 90 years. Faberge hired IBM to create a technology that would allow customers to enlarge the image of the jewelry or other producs on a screen, look at it from different angles and contact the sales team which speaks 12 languages.

JPMorgan JPM
$42.86 +0.32 0.75% 28,548,029 NYSE: WSJ pA4 "Mortgage Aid Plan Gets Tepid Results" by Ruth Simon & Jessica Holzer says just 12% of eligible borrowers have started trial loan modifications under the Obama admin's $75 bil mortgage foreclosure prevention plan. Among large mortgage services, Bank of Am and Wells Fargo have started trial modifications for 7% and 11% respectively of their eligible borrowers who are at least 60 days past due. JPM has started trial modifictions for 25% of eligible borrowers and Citigroup 23%.

WSJ pC2 "Chinese Defaults Worry Foregin Banks" by Laura Santini says foreign banks that entered oil derivative contracts with some Chinese airlines and shippers could fin they have little recourse if the companies make good on threats to default on obligartions. Last month, China Eastern Airlines, AirCchina and China Ocean Shippping sent letters to a handful of foreign banks, including JPMorgan warning that the copanies reserved the right to default on hundreds of dolars of derivative trades.

WSJ pC3 "Schwartz Hires From Goldman" by Aaron Lucchetti says alan Schwart, former CEO of Bear Stearns is filing out his new team of investment bankers at gugenheim Partners by hiring Peter Comisar from Goldman Sachs. JPM Morgan bought Bear last year the article notes.

WSJ pC4 "Morgan Stanley Taps Thomas" by Rick Crew says Hugh Tomas resigned as head of Natural Resources Asia-Pacific at JPM to go to work for Morgan Stanley in a similar position.

JNJ $60.92 +0.35 0.58% 9,198,293 NYSE: No mentions found.

Kraft KFT
$26.85 +0.40 1.51% 18,085,480 NYSE: WSJ pB1 "Kraft Covets Cadbury's Know-How in India" by Sonya Misquitta & Cecilie Rohwedder says at the heart of Kraft's craving for Cadbury are Cadbury's hold on consumers in India and other emerging markets.

"WSJ pB1 Suntory Nears Deal to Buy Orangina" by Dana Cimillua & Pater Lattman says Japanese beverage giant Suntory Holdings Ltd. is close to a deal to acquire Orangina, maker of the famed soft drink at a price more than the $2.6 bil paid for the company in '06 by Blackstone Group and Lion Capital. It would be the second substantial European consumer deal since Kraft's bid for Cadbury. Story notes that France blocked Coke from buying Orangina from Pernod Ricard in '98.

WSJ pB5 "Exclusive Hershey Pack Looms On Horizon in Cadbury Battle" by Ilan Brat says an important element of a combination of Kraft and Cadbury could rest in the hands of Hershey because 21 years ago Hershey bought Cadbury's US chocolate business, including factories and the rights to make and sell brands such as Cadbury and York Peppermint Patty, Creme Eggs, Caramello, Peter Paul Almond Joy for 25 years.

WSJ pC5 "In Chocolate Wars, Traders Like Hershey" by Tennille Tracy" says the options market Wed rallied around Hershey as traders attempted to speculate on the future of the chocolate maker, following attempts by Kraft to buy Cadbury. WhatsTrading.com strategist Frederic Ruffy says Kraft's move might force a long awaited deal between hershey and Cadbury, a move that could be viewed as a positive long term strategic move for Hershey.

WSJ pC10 "Consider the Limits to Kraft's Largess" says Kraft is facing the usual heat on an acquirer to raise its bid for Cadbury but investors hoping for a big bump could be dissappointed becasue at $16.5 bil this is a premium of nearly 30% of Cadbury's valuation. Story says Cadbury wasn't seriously undervalued before Kraft's bid.

McDonald's MCD
$55.09 -1.13 2.01% 17,731,578 NYSE: WSJ pB5 "Mcdonald's Sales Growth Slows" by Paul Ziobro says MCD's same store sales rose 2.2% last month, with slowing growth in the US highlighting MCD's sensitivity to high unemployment and a discounting war. The sales growth at locations open at least a year, was half what the company recorded for July. Europe was healthy with same store sales rising 3.5%. Sales fell 0.5% in the Asia/Pacific, Mid East and Africa region.

Similar story at NYT pB11 & AJC pA12.

Merck MRK
$31.55 +0.58 1.87% 12,350,110 NYSE: WSJ pD3 "Panel Backs Cancer Vaccines" by Jennifer Corbett Dooren & AJC pA12 say an FDA panel Wed backed a GlaxoSmithKline vaccine designed to protect against cervical cancer in women and endorsed expanded use of Merk's copetitor vaccine Gardasil for males to protect against genital wars. Merck is seeking FDA approval to expand Gardasil's use in males ages 9 to 26.

NYT pB6 "AIDS Activitsts Issue Grades to Drug Companes - Merck got the best grade, B, and Abbott received an F" by Duff Wilson says Merck won the highest grade and Abbott Labs flunked in a report card being issued Thurs by a prominent gorup of AIDS treatment activists after a yearlong study of nine major drug makers.

Related story at NYT pB6 "Two Giants Vie for Billions In STD Vaccine Market" by Natasha Singer says 2 drug giants are vying for the billions of dolars up for grabs in the market for vaccines against HPV, a sexually transmitted infection that can cause cervical cancer and gential wars. Merch has had a monopoly on HPV vaccines in the US with Gardasil has asked the FDA to approve the durg to protect agaisnt genital warts in young men. GlaxoSmithKline which currently markets its Cervarix vaccine to young women in about 100 countires is seeking to have the vaccine approved in the US for girls 10 to 25 to prevent cervical cancer.

Microsoft MSFT
$24.78 -0.04 0.16% 49,270,425 NASDAQ-GS: NYT pB4 "Applause for Apple's Chief After Transplant" by Bard Stone and David Pogue says Jobs in his first public appearnace took jabs at competing products form Microsoft, Dell and Sony.

PFE $16.17 -0.04 0.25% 39,982,091 NYSE: No mentions found.

PG $53.76 -0.44 0.81% 11,015,963 NYSE: No mentions found.

MMM $73.18 +1.49 2.08% 4,757,853 NYSE: No mentions found.

TRV $49.14 +0.17 0.35% 4,524,421 NYSE: No mentions found.

UTX $61.24 +0.86 1.42% 4,899,482 NYSE: No mentions found.

Verizon VZ
$30.89 -0.06 0.19% 15,247,679 NYSE: WSJ pB9 "Palm Unveils Cheaper Phone in Turnaround Drive - Thin Pixi Is Positioned as Latest Alternative to Such Rivals as Apple's iPHone; Company Reduces Pre's Price" by Yukari Iwatani Kane & Roger Cheng says Palm unveiled a thinner, less expensive smart phone called the Pixi, part of Palm's effort to turn itself around. This comes 3 months after Palm launched its Pre phone. Some analysts said they were disappointed the Pixi won't be sold through either AT&T or Verizon Wirelss, exposing the device and Palm's software to a new pool of potential customers.

Walmart WMT
$51.11 -0.29 0.56% 15,028,947 NYSE: WSJ pB1 "Retail Health Clinics Move to Treat Complex Illnesses, Rankling Doctors" by Amy Merrick says retail health clinics are adding treatments for chronic diseases such as asthma that puts the clinics into greater competition with doctors' groups and hospitals. This new strategy comes as an initial thrust by clinics provided basic services fizzled. CVS pared its expansion plans and Walmart which two years ago outlined plans to house 400 clinics closed many clinics as several operators went out of business.

Here are the latest SEC filings as of 9/4/09 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: 8/28/09 two 8K's, one: annoucning it had reached agreement with the Communications Workers of America (on a new, three-year contract covering approximately 7,000 wireline employees (located across the U.S.) under the CWA Communications and Technologies contract, subject to approval by these employees. The second 8K said two subsidiaries of Tprovided redeemed certain long-term debt issues as of September 28, 2009.

Alcoa AA: 8/29/09 8K announcing that Alain J. P. Belda, executive Chairman of the Board of Directors of AA retired as an executive officer but is staying on as a director until April 23, 2010.

American Express AXP: 9/2/09 10Q

Bank of Am BAC: a free writing prospectus regarding issuance of $74 million in debt securities.

Boeing BA: 8/31 8K announcing the retirement of Scott E. Carson, Executive Vice President, President and Chief Executive Officer, Boeing Commercial Airplanes, effective January 1, 2010. Effective September 1, 2009, Mr. Carson will leave his current position and assume the role of Executive Vice President. Carson will be replaced by James F. Albaugh.

8/27 8K announcing a revised schedule for the 787 Dreamliner and a charge to third quarter earnings related to flight test aircraft.

Caterpiller CAT: 8/20/09 8K CAT filed Reg FD information concerning deliveries to users for its Machinery and Engines lines of business.

Chevron CVX: 8/6/09 10Q

Cisco CSCO: 8/5/09 8K CSCO reported its results of operations for its fiscal fourth quarter and fiscal year 2009 ended July 25, 2009.

Coke KO: 7/30/09 10Q

Disney DIS: 8/31/09 8K announcing a merger between its subsidiary, Maverick Acquisition Sub, Inc., and its subsidiary, Maverick Merger Sub, LLC, a single member Delaware limited liability company and Marvel Entertainment, Inc.. As a result of the Merger, Marvel will become a wholly owned subsidiary of Disney. Each share of Marvel common stock will be converted into $30 in cash and 0.7452 shares of Disney common stock.

DuPont DD: 8/13/09 8K announcing 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 DD'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 will retire effective September 30, 2009.

ExxonMobil XOM: 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.

Hewlett-Packard HPQ: 8/18/09 8K re: release of 731/09 3Q results

Home Depot HD: 8/26 8K announcing amendments to their By-Laws dealing with resignations of directors.

Intel INTC: 9/2/09 8K announcing that as a result of stronger than expected demand for microprocessors and chipsets, Intel now expects revenue for the third quarter to be $9.0 billion, plus or minus $200 million, as compared to the previous range of $8.5 billion, plus or minus $400 million. The gross margin percentage for the third quarter is expected to be in the upper half of the previous range of 53 percent, plus or minus two percentage points. The company is scheduled to report its third-quarter financial results on Oct. 13.

IBM: 7/28/09 10Q

JPMorganChase JPM: 9/2/09 Free Writing Prospectus relating to Core commodity C-IGAR Sigma Long-Short Index

Johnson & Johnson JNJ: 8/4/09 10Q

Kraft KFT: 8/5/09 10Q

McDonalds MCD: 8/11/09 re: press release "McDonald’s Reports Global Comparable Sales Up 4.3% in July"

Merck MRK: 8/3/09 Sched 14A proxy material re: updated of acquisition of Schering-Plough

Microsoft MSFT: 8/24/09 S-8 Securities to be offered to employees in employee benefit plans

Pfizer PFE: 9/2/09 8K announcing an agreement with the U.S. Department of Justice to settle an investigation regarding off-label promotional practices related to Bextra, which Pfizer withdrew from the market in 2005 and other DOJ investigations involving off-label promotional practices concerning Zyvox, Geodon and Lyrica, and allegations related to payments to healthcare professionals involving these and nine other Pfizer medicines. Pfizer previously disclosed a related $2.3 billion charge to its fourth-quarter and full-year 2008 earnings in connection with the DOJ agreement in principle on January 26, 2009. PFE has reached agreements with attorneys general in 432 states to settle state civil consumer protection allegations regarding promotional practices concerning Geodon. PFE will pay a total of $33 million to the settling states.

Procter & Gamble PG: 8/28/09 S-8 Securities to employees and 8/28 8K annoucning public offering of $500,000,000 aggregate principal amount of 3.150% Notes due 2015.
Also a PG subsidiary, Procter & Gamble International Funding SCA issued $1,000,000,000 aggregate principal amount of 1.350% Notes due 2011.

3M MMM: 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.

Travelers TRV: 8/5/09 10Q/A Amended 10Q

United Technologies UTX: 7/24/09 10Q

Verizon Communications Inc. VZ: 9/2/09: 8K annoucning retirement of Dennis F. Strigl, President and Chief Operating Officer of Verizon Communications Inc. (at end of '09 and also VZ raised its quarterly dividend 3.3% to 47.5 Cents per share. This is the third consecutive year that VZ has approved a quarterly dividend increase in September.

Wal-Mart WMT: 8/13/09 8K re 7/31/09 2Q report of earnings

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