9/6/09 Sun Boeing Says 787's Problems Resulted from Ousourcing

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Post #93 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 Sunday's 9/6/09 print editions of: New York Times, Atl Journal Const, & 9/7/09 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 $25.51 +0.36 1.43% 14,893,880 NYS: BRN's p29 "Speaking of Dividends - Verizon Boosts Payout - May presage more raises across telecom-services" by Shirley A. Lazo says divident increases this year by T & Verizon would be a corporate vote of confidence in the resilency of the telecom services industry according to Morgan Stanley telecom analysts Simon Flannery and Daniel Gaviria said in an 8/27 research report. They expect VZ to increases its payot this monty by around 3% versus a consenus guess of about 4.5% and that ATT will in crease its quarterly div by a a siilar amount in Dec, in line with consensus.

AA $12.19 +0.18 1.5% 16,391,164 NYSE: No mentions found.

American Express AXP $32.81 +0.35 1.08% 6,004,884 NYSE: AJC pD2 "Deconomy expalined - Earning profits on bailout money - government reaping dividends, stock gains as banks repay loan - Still, many that got cash many never get it back" has Q&A about the gov's $700 bil bailout of big banks and lists some of the best known banks that get money under the TARP (Troubled Asset Relieft program): including JPM & AXP.

Bank of Am BAC $17.06 +0.22 1.31% 165,395,460 NYSE: BRN's pM3 The Trader - Stcoks Slip 1% as Financials Flounder" by Bill Alpert says financial markets are showing symptons of anxier disorder after 6 months of recovery. Financial shares led a sharp retreat on Tues, treasury ields are up, while god is dowing better than other commmodites. Early week concerns about how West Cost banks, including BAC Bofa intends to finance their way out of the TARP program, left stocks at a modest loss for the week. He says BAC is being heavily shorted. The Morgan strategists suggests buying BAC and also three that JPMMorgan rates Neutral that includes GE.

Boeing BA $49.12 +0.66 1.36% 5,305,162 NYSE: NYT Bis p! "A Dream Interrupted at Boeing" by Christopher Drew has a detailed feature about how excessive outsourcing has cuased a dealy of over two years in the rollout of the 787 Dreamliner, the first passenger plane to be made mainly with light plastic composites. The articles says that BA acknowledges that the problems have damaged its credibility and have resulted in 60 orders being canclled.

CAT $46.12 +1.08 2.4% 6,732,549 NYSE: No mentions found.

CVX $68.92 +0.59 0.86% 5,250,766 NYSE: No mentions found.

Cisco CSCO $21.84 +0.35 1.63% 28,628,814 NASDAQ-GS: BRNS p27 "Plugged In - Cisco and EMC's Smart Plan" by Mark Veverka says Cisco Systems isn't kidding around, they could be making another major move to exapnd beyond its roots and into computer hardware and software for big corporations because it is forming a joint venture with storage giant EMC that would make a product aimed at data centers, which power corporate netowrks. The product would combine a computer server with CSCO networking gear and storage technology provided by EMC. CSCO made waves erlier this year when it leapt into computer servers competing with IBM, hewlett-packard and Dell.

Coke KO $49.97 +0.39 0.79% 6,799,428 NYSE: BRNs p 31 "Talking With jeffrey Auxier, Manager, Auxier Focus Find" by Christopher C. Williams says that Auxier targets fundamentally sound copaneis, with strong balance sheets and predictable cash flows, shose shares have been hurt by seemingly fixable problems. His 120 stock portfolio includes Coke and Walmart.

Disney DIS $25.94 +0.50 1.97% 10,573,813 NYSE: BRNs p11 "Streetwise - Dream Team: Mickey, Spidey and the Hulk" by Micael Santoli says among Dis' strengths is a knack for creating, nurturing, selling and reselling characters with double lives, secret identities, alter egos such as Sleeping Beauty & Hannah Montana. He says Dis purchase to acquire marvel Entertainment will make Marvel's maleskewing, often dark characters alter egos to Dis' girl pleasing, sunnier personalities. The market expressed some mild alarm over the $4 bil tab, which amounts to $50 per Marvel share in cash and Dis stocks. This values marvel at ore than 22 times 2010 expected earnings and more than 13 times projected cash flow. Santoli's conclusion: The price for marvel will take some work to justify, but it's likely Disney will do just that.

DD $31.72 +0.09 0.28% 4,809,070 NYSE: No mentions found.

XOM $69.15 +0.89 1.3% 13,082,085 NYSE: No mentions found.

GE $13.87 +0.42 3.12% 71,394,309 NYSE: AJC pD2 "Deconomy expalined - Earning profits on bailout money - government reaping dividends, stock gains as banks repay loan - Still, many that got cash many never get it back" has Q&A about the gov's $700 bil bailout of big banks and lists some of the best known banks that get money under the TARP (Troubled Asset Relieft program): including JPM & AXP.
Bank of Am BAC $17.06 +0.22 1.31% 165,395,460 NYSE: BRN's pM3 The Trader - Stcoks Slip 1% as Financials Flounder" by Bill Alpert says financial markets are showing symptons of anxier disorder after 6 months of recovery. Financial shares led a sharp retreat on Tues, treasury ields are up, while god is dowing better than other commmodites. Early week concerns about how West Cost banks, including BAC Bofa intends to finance their way out of the TARP program, left stocks at a modest loss for the week. He says BAC is being heavily shorted. The Morgan strategists suggests buying BAC and also three that JPMMorgan rates Neutral that includes GE.

Hewlett-Packard HPQ $45.1 +0.65 1.46% 7,977,178 NYSE: BRNS p27 "Plugged In - Cisco and EMC's Smart Plan" by Mark Veverka says Cisco Systems isn't kidding around, they could be making another major move to exapnd beyond its roots and into computer hardware and software for big corporations because it is forming a joint venture with storage giant EMC that would make a product aimed at data centers, which power corporate netowrks. the porduct would combine a computer server with CSCO networking gear and storage technology provided by EMC. CSCO made waves erlier this year when it leapt into computer servers competing with IBM, hewlett-packard and Dell.

Home Depot HD $27.01 +0.11 0.41% 7,045,807 NYSE: BRNS p33 "Interview with Deborah Weinswig, managing Director and Retailing Analyst, Citigroup Investment Research" by Lawrence C. Strauss says the retailing worlds has entered a new normal according to Deborah Weinswig. Shoppers are hungry for value and conspicuous consumption is out. she says WalMart is dong a great job at delivering value but Weinswig doesn't think consumers are buying much. She picks Home Depot, Kohl's, JC Penney and Saks saying that at Home Depot, CEO Frank Blake has upgraded management, changed the corporate culture and is pushing the opeational technology into the 21st century.

INTC $19.64 +0.22 1.13% 46,728,643 NASDAQ-GS: No mentions found.

IBM $117.4 +1.07 0.92% 2,973,766 NYSE: BRNS p27 "Plugged In - Cisco and EMC's Smart Plan" by Mark Veverka says Cisco Systems isn't kidding around, they could be making another major move to exapnd beyond its roots and into computer hardware and software for big corporations because it is forming a joint venture with storage giant EMC that would make a product aimed at data centers, which power corporate netowrks. The product would combine a computer server with CSCO networking gear and storage technology provided by EMC. CSCO made waves erlier this year when it leapt into computer servers competing with IBM, Hewlett-Packard and Dell.

JPMorgan Chase JPM $42.28 +0.17 0.4% 19,749,251 NYSE: AJC pD2 "Deconomy expalined - Earning profits on bailout money - government reaping dividends, stock gains as banks repay loan - Still, many that got cash many never get it back" has Q&A about the gov's $700 bil bailout of big banks and lists some of the best known banks that get money under the TARP (Troubled Asset Relieft program): including JPM & AXP.

AJC pD2 "Eeconomy explained - Earning profits on bailout money - government reaping dividends, stock gains as banks repay loan - Still, many that got cash many never get it back" has Q&A about the gov's $700 bil bailout of big banks and lists some of the best known banks that get money under the TARP (Troubled Asset Relieft program): including JPM & AXP.

Bank of Am BAC $17.06 +0.22 1.31% 165,395,460 NYSE: BRN's pM3 The Trader - Stocks Slip 1% as Financials Flounder" by Bill Alpert says financial markets are showing symptons of anxier disorder after 6 months of recovery. Financial shares led a sharp retreat on Tues, treasury ields are up, while god is dowing better than other commmodites. Early week concerns about how West Coast banks, including BAC BofA intends to finance their way out of the TARP program, left stocks at a modest loss for the week. He says BAC is being heavily shorted. The Morgan strategists suggests buying BAC and also three that JPMMorgan rates Neutral that includes GE.

JNJ $60.3 +0.61 1.02% 6,013,767 NYSE: No mentions found.

KFT $28.12 +0.13 0.46% 3,621,918 NYSE: No mentions found.


McDonald's MCD $56.07 +0.50 0.9% 4,487,875 NYSE: BRNs p15 says that on 9/9 Wed, McDonald's reports its August sales.

Merck MRK $30.67 +0.43 1.42% 11,201,962 NYS: BRNs p15 says that on 9/9 Wed an FDA advisory committee looks at effectiveness of Merck's Gardasil in vaccinating males against the virus.

BRNs p17 "At Amgen, a Prescription for Success - Approval of a promising bone loss treatment could help Amgen offset slowing growth in its legacy products and cure what's ailing investors" by Dimitra DeFotis says Bernstein's Porges thinks denosumab cold produce $654 mil in rev next year, mostly from use as a twice yearly injectable for osteoporosis treatment in post menopausal women over 50. Bernstein estiamtes that 66% of the eligible US population of nine mil is treated with pills such as MRK's Fosamax bu Amgen's exec vp, Roger Perlmutter (and ex MRK vet) says many women don't refull prescriptions because of side effects.

MSFT $24.62 +0.51 2.12% 44,540,083 NASDAQ-GS: No mentions found.

Pfizer PFE $16.39 +0.31 1.93% 26,390,467 NYSE: BRNS p21 "Cover Story - Market strategists . . . see stocks' gains cooling from the torrid pace of summer. But they still see upside. Fall Outlook" by Kopin Tan says David Kostin, Goldman Sachs' chief US strategist thinks companies exposed to the faster growing economies of Brazil, Russia, India and China are well positioned to grow and has flagged a basket of 50 US stocks with the highest percentage of sales to these BRIC countries that includes PFE.

PG $52.86 -0.01 0.02% 6,860,355 NYSE: No mentions found.

MMM $71.25 +0.23 0.32% 2,113,237 NYSE: No mentions found.

TRV $50.07 +0.15 0.3% 2,728,790 NYSE: No mentions found.

UTX $60.48 +0.83 1.39% 3,230,257 NYSE: No mentions found.

Verizon VZ $30.57 +0.33 1.09% 6,921,380 NYSE: BRN's p29 "Speaking of Dividends - Verizon Boosts Payout - May presage more raises across telecom-services" by Shirley A. Lazo says dividend increases this year by T & Verizon would be a corporate vote of confidence in the resilency of the telecom services industry according to Morgan Stanley telecom analysts Simon Flannery and Daniel Gaviria who said in an 8/27 research report that they expect VZ to increases its payot this monty by around 3% versus a consenus guess of about 4.5% and that ATT will in crease its quarterly div by a a siilar amount in Dec, in line with consensus.

Walmart WMT $51.64 -0.10 0.19% 12,819,484 NYSE: BRNS p 31 "Talking With Jeffrey Auxier, Manager, Auxier Focus Find" by Christopher C. Williams says that Auxier targets fundamentally sound copaneis, with strong balance sheets and predictable cash flows, shose shares have been hurt by seemingly fixable problems. His 120 stock portfolio includes Coke and Walmart.

BRNS p33 "Interview with Deborah Weinswig, managing Director and Retailing Analyst, Citigroup Investment Research" by Lawrence C. Strauss says the retailing worlds has entered a new normal according to Deborah Weinswig. Shoppers are hungry for value and conspicuous consumption is out. she says WalMart is dong a great job at delivering value but Weinswig doesn't think consumers are buying much. She picks Home Depot, Kohl's, JC Penney and Saks saying that at Home Depot, CEO Frank Blake has upgraded management, changed the corporate culture and is pushing the opeational technology into the 21st century.

BRNs p25 "Weekday Trader by Teresa Rivas has an article about Tupperware Brands being poised to grow and quotes CEO Rick Goings says saying that people can to to WalMart and buy all the commodity stuff they want but that's now what Tupperware sells.

BRNs p16 "Skype Sale Enhances eBay's Allue" says that ebay's agreement to sell its skype Internet communications unit last week will make eBay focus on its core business, its auction and PayPal and says that eBay shares have been flat and have been pressured by WalMart's launch of an online portal for third party retailers.

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