10/21/09 Wed. am Boeing Takes Dive

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

Post #170 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 a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of close of 10/12/09 and an update of the Dow 30's most recent SEC filings as of 10/12/09.

A read of Wednesday's 10/21/09 print editions of: Wall Street Journal, New York Times, The Financial Times, USA Today, & Atlanta Journal Constitution 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 Monday's closing price and related data:

Dow: The Dow Jones Industrial Average closed Tuesday at 10041.48 down 50.71 or 0.5% from Monday's close of 100092.19. Of the 30 Dow Companies: 19 declined and 6 gained. The biggest gainer dollar-wise and percentage-wise was for the second day in a row Caterpillar CAT $59.61 +1.76 3.04% 33,661,739 NYSE and the biggest decliner dollar-wise and percentage-wise was Boeing BA $51.89 -1.56 2.92% 8,143,139 NYSE.

Dow: WSJ pC1 "Stocks Fall 50.71 Points: Oil Ends Run by Peter A. Mckay, Donna Kardos Yesalavich says stocks finished lower and oil snapped an 8 day winning streak as new economic data and bearish analyst comments reignited investors' worries about the economy. A weak reading of housing starts touched off the declines Tues., sending the Dow Jones Industrial Average down almost 100 points shortly after noon. Boeing was the biggest decliner, off 2.9% after Morgan Stanley cut its rating on the aircraft maker to underweight from equal weight citing concerns about the 787. Boeing is scheduled to report earnings Wed. DuPont fell 2.2% after reporting rising profits but declining sales. The Dow's losses were tempered by a 3% rise in Caterpillar after the industrial giant exceed 3Q profit expectations by a wide margin and raised its full eyar profit outlook.

WSJ pC6 "Boeing Slides 2.%; Apple Rides Earnings" by Donna Kardos Yesalavich says stocks fell, weighed down by disappointing 3Q rev from DuPont and Coca-Cola, while worse than expected data on home building and building eprmits hurt Home Depot and other housing related companies. The weak economic data and rev. stalled the market's momentum from Mon, when the Dow Jones Industrial Average and S&P 500 stock index both closed at highs for the year. Earnings have been coming in largely above estimates, but investors have gotten ore critical of companies that haven't posted rev above forecasts as they look to justify the Dow's 53% jump over the past 7 months. Boeing was the Dow's worst performeer after Morgan stanley cut its investment rating. Home Depot, DuPont and Coca-Cola were among the Dow's other big decliners. Home Depot fell 2.4%, Dupont, which posted a better than expected rise in profits but an 18% drop in net sales fell 2.2%. Coca-Cola tumbled 1.3% after posting a slide in rev, although its earnings excluding items exceeded Street estimates. Caterpillar kept the Dow's declines in check as its jumped 3% after exceeding 3Q profit expectations by a wide margin and saying its preparing for a recovery that could be rapid.

NYT pB8 "Investors Take a Step Back Ater Data Offsets Earnings" by Jack Healy says Wall Street swung lower on Tues. after weaker wholesale prices and a tepid report on new home construction pointed up the economy's lingers travails. The backslide came even after a string of bellwether companies including Apple, Pfizer and Caterpillar reported strong profits. More than half of companies reporting earnings so far have beated analysts' expectations, raising hopes that companies are past their worst financial trouble.

Fin Times p13 "Upbeat start to earnings season - Profits move ahead of forecasts at Caterpillar - Trend reflects how fast costs have been cut" by Hal Weitzman, Simone Baribeau, Jonathan Birchall says corproate America issued a strong of quarterly earnings results yesterday that exceded Wall street's expectations, reflecting how big US companies have cut costs faster than revs. have fallen. It has pictures of logos and net income of the follow Dow cos: Cat 3Q net income down 53% to $404 mi; Coke's 3Q net income at $1.9 bil unchanged; & Pfizer's 3Q net income up 26% to 2.9 Bi.

USA Today p5B "Stocks sag on anemic economic news" says US stocks retreated from 12 month highs Tuesday as disappinting housing and inflation data prompted investors to book recent gains despite strong profit results from bellwethers Apple and Caerpillar.

Tuesday's Dow Jones Industrial Average closing numerator was 1328.68 down 6.71 from Monday's closing Dow numerator of 1355.39. 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.

The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged where it is also noted that as of market open Wednesday the Dow's trailing P/E ratio is 16.29 up from yesterday's 16.21 (year ago was nil), the P/E estimate is 16.02 unchanged (1 year ago it was 10.80), and the dividend yield is 2.78 up down from yesterday's 2.77 (a year ago it was 3.60). Now, if you divide the Dow numerator decrease of 6.71 for Tuesday by the divisor you get the decrease of 50.71 in Tuesday's Dow close.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 44.29 down 0.22 from Tuesday's Dow Jones Industrial Average closing price of 44.51. The median closing price of Tuesday's Dow Jones Industrial Average was 40.73 down 0.13 from Monday's Dow Jones median closing price of 40.86.

The highest closing price Tuesday again was IBM $122.82 -0.24 0.2% 8,713,249 NYSE and the lowest closing price Tuesday again was Alcoa AA $13.79 -0.28 1.99% 36,481,175 NYSE.

The lowest volume Tuesday was Traveler's TRV $48.46 -0.34 0.7% 2,906,923 NYSE and the highest volume again was Bank of Am BAC $17.01 -0.15 0.87% 168,644,861 NYSE.

If Tuesday 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 lost $660.
($133,530 - 132,870)

AT&T T $25.99 -0.01 0.04% 34,555,446 NYSE: WSJ pB5 "Carriers eye Pay As You Go Internet - amid Gov. Push to Open Networks, Some See Cover fo Pricing Based on usage" by Christopher Rhoads, Niraj Sheth says some cable and telecom providers are trying to turn back the clock and return to usage based pricing for Internet connections such as AT&T and time Warner Cable who say they may have to switch amid a surge in Internet traffic as more people go online to wach videos and download movies.

NYT pB7 "A New E-Reader; the Nook, Enters the Market" by Motoko Rich says Barnes & Noble unveiled its Nook e-reading device which is priced at $259 which matches the latest edition of the Kindle. The Nook will ship starting in late NOv. In any of B&N's 1,300 stores, consumers can download books on the Wi-Fi network and outside the stores, consuemrs will access AT&T's 3G network to download books.
Alcoa AA $13.79 -0.28 1.99% 36,481,175 NYSE:

American Express AXP $35.42 -0.32 0.9% 8,247,723 NYSE: No mentions found.

Bank of America BAC $17.01 -0.15 0.87% 168,644,861 NYSE: WSJ pC8 "Morgan Stanley and Its Waning Crescent - Resolution for Slump Hit Property Firm Draws Near: Cede Control to Barclays or Fight On?" by Lingling Wei says Morgan Stanley is under pressure to turn its interest in Crescent Real Estate Equities Co., which owns 54 office buildings, resorts and housing projects, to Barclays Capital which provided a $2 bil loan to finance the deal. At Bank of America, one of the nation's largest elnders to commercial proeprty developers, nonperforming commercial real estate loans reached $6.9 bil in 3Q or 9.6% of its total such loans outstanding. That figure more than doubled the level in the year earlier period.

WSJ pC16 "Heard on Street" by Peter Eavis says BofA has isolated its commercial real estate reserve as equivalent to 4.14% of the book value in 3Q in contrast to M&T Bank which is the focus of a column.

Fin Times p14 "Bold buying spree at heart of BofA's woes" by Greg Farrell says Bofa's troubles continue as evidenced by last week's announcement of a $1 bil loss for 3Q which are unrelated to the acquisition of Merrill Lynch. The erosion of BofA's balance sheet was due to a range of factors including the acquisiton of LaSalle bank for $21 bil in cash. Photo of Ken Lewis is with the photo captioned that he couldn't resist taking over Merrill.

Boeing BA $51.89 -1.56 2.92% 8,143,139 NYSE: WSJ pC1 "Stocks Fall 50.71 Points: Oil Ends Run by Peter A. Mckay, Donna Kardos Yesalavich says stocks finished lower and oil snapped an 8 day winning streak as new economic data and bearish analyst comments reignited investors' worries about the economy. A weak reading of housing starts touched off the declines Tues., sending the Dow Jones Industrial Average down almost 100 points shortly after noon. Boeing was the biggest decliner, off 2.9% after Morgan Stanley cut its rating on the aircraft maker to underweight from equal weight citing concerns about the 787. Boeing is scheduled to report earnings Wed. DuPont fell 2.2% after reporting rising profits but declining sales. The Dow's losses were tempered by a 3% rise in Caterpillar after the industrial giant exceed 3Q profit expectations by a wide margin and raised its full eyar profit outlook.

WSJ pC1 "Thinking of Taking Flier on Boeing? Rethink" by Mark Gongloff says the world's second biggest maker of commercial airliners is due to report 3Q results Wed. morning. Analysts estimate Boeing lost 2.12 a share share in the 3Q, compared with earnings of 94 cents a share a year earlier. The global recession has dented demand for BA's airplanes, but the company has also hurt itself with frequent delays of its 787 Dreamliner and 747 revamp programs, problems that led to $3.5 bil in charges in 3Q. Further dealys could lead to canceled orders, add'l payments to customers and suppliers and additional researh, development and labor costs. The stocks lost 26% this summer but have rebounded. BA fell about 3% Tues. after Morgan Stanley analyst Heidi Wood downgraded it becuz the first Dreamlienr delivery may not take place until '11. At 51.89, the share price is still far from its '07 high of $100. A falling dollar helps BA's exports but also has pushed oil to $80 a barrel, which raises jet fuel prices and hurts air travel so things don't look well for a big bet on Boeing according to Gongloff.

Caterpillar CAT $59.61 +1.76 3.04% 33,661,739 NYSE: NYT pB8 "Caterpillar Raises Forecast for Year" by Bllomberg News says Caterpillar, the maker of bulldozers and excavators, posted 3Q earnings that beat analysts' estimates and issued a full year forecast that exceed the highest prediction. Profit dropped to $404 milk or 64 cents a share, from 868 mil, or 1.39 a year earlier. Caterpilalr has slashed inventories and production amid the worst decline in its markets since the gerat Depression. Cat cut 18,700 full time jobs and about 18,000 temp jobs since Dec. '08. Sales fell 44% to 7.3 bil from 12.98 bil in 3Q of '08. Cat, based in Peoria, Ill, narrowed its '09 forecast range to 1.85 to 2.05 a share, from 1.15 to 2.25. the average est. was 1.48 a share. The highest prediction was 1.75. The rev forecast is now 32 to 33 bil, compared with the prior forercast of 32 bil to 36 bil. Cat expects the world economy to improve in '10 with growth of 3%, the highest growth rate since '07.

Fin Times p13 "Upbeat start to earnings season - Profits move ahead of forecasts at Caterpillar - Trend reflects how fast costs have been cut" by Hal Weitzman, Simone Baribeau, Jonathan Birchall says corproate America issued a strong of quarterly earnings results yesterday that exceded Wall street's expectations, reflecting how big US companies have cut costs faster than revs. have fallen. It has pictures of logos and net income of the follow Dow cos: Cat 3Q net income down 53% to $404 mi; Coke's 3Q net income at $1.9 bil unchanged; & Pfizer's 3Q net income up 26% to 2.9 Bi.

Fin Times p12 says investors should be upbeat about Cat becasue its 3Q results were less bad then expected.

WSJ pC1 "Stocks Fall 50.71 Points: Oil Ends Run by Peter A. Mckay, Donna Kardos Yesalavich says stocks finished lower and oil snapped an 8 day winning streak as new economic data and bearish analyst comments reignited investors' worries about the economy. A weak reading of housing starts touched off the declines Tues., sending the Dow Jones Industrial Average down almost 100 points shortly after noon. Boeing was the biggest decliner, off 2.9% after Morgan Stanley cut its rating on the aircraft maker to underweight from equal weight citing concerns about the 787. Boeing is scheduled to report earnings Wed. DuPont fell 2.2% after reporting rising profits but declining sales. The Dow's losses were tempered by a 3% rise in Caterpillar after the industrial giant exceed 3Q profit expectations by a wide margin and raised its full eyar profit outlook.

WSJ pC6 "Boeing Slides 2.%; Apple Rides Earnings" by Donna Kardos Yesalavich says stocks fell, weighed down by disappointing 3Q rev from DuPont and Coca-cola, while worse than expected data on home building and building eprmits hurt Home Depot and other housing related companies. The weak economic data and rev. stalled the market's momentum from Mon, when the Dow Jones Industrial Average and S&P 500 stock index both closed at highs for the year. Earnings have been coming in largely above estimates, but investors have gotten more critical of companies that haven't posted rev above forecasts as they look to justify the Dow's 53% jump over the past 7 months. Boeing was the Dow's worst performeer after Morgan stanley cut its investment rating. Home Depot, DuPont and Coca-Cola were among the Dow's otehr big decliners. Home Depot fell 2.4%, Dupont, which posted a better than expected rise in profits but an 18% drop in net sales fell 2.2%. Coca-Cola tumbled 1.3% after posting a slide in rev, although its earnings excluding items exceeded Street estimates. Caterpillar kept the Dow's declines in check as its jumped 3% after exceeding 3Q profit expectations by a wide margin and saying its preparing for a recovery that could be rapid.

Chevron CVX $77.03 -0.63 0.81% 8,064,620 NYSE: No mentions found.

Cisco CSCO $24.11 -0.14 0.58% 52,345,738 NASDAQ-GS: No mentions found.

Coca-Cola KO $54.07 -0.72 1.31% 13,347,378 NYSE: NYT "Coke Profit Edges Up; American sales Stall by William Neuman, AJC p13 a story by Joe Guy Collier also reports on Coke's 3Q earnings as did WSJ pB4 by Valerie Bauerlein, Anjali Cordeiro which said KO posted flat 3Q profit and slightly lower rev as it continued to be hurt by fluctuations in global currencies and slow consumer spendingin the US, Japan and W. Europe. KO, which derives about 80% of its rev from outside the US, enjoyed strong volume sales in some emerging markets, with a 15% incrase in China and 37% incrase in India. North American sales volume sagged 4% hurt by weak sales of Dasani water as consumers turned to tap water. KO's profit was 1.89 bil little changed from a eyar earlier and rev. decreased 4% to 8.04 bil as overall volume rose 2%.

Fin Times p13 "Upbeat start to earnings season - Profits move ahead of forecasts at Caterpillar - Trend reflects how fast costs have been cut" by Hal Weitzman, Simone Baribeau, Jonathan Birchall says corproate America issued a strong of quarterly earnings results yesterday that exceded Wall street's expectations, reflecting how big US companies have cut costs faster than revs. have fallen. It has pictures of logos and net income of the follow Dow cos: Cat 3Q net income down 53% to $404 mi; Coke's 3Q net income at $1.9 bil unchanged; & Pfizer's 3Q net income up 26% to 2.9 Bi.

Fin Times p16 "Coke chief in upbeat outlook" by Jonathan Birchall says Muhtar Kent, ceo of Coke, welcomed what he called signs that a global consumer recovery was under way in emerging markets, as the regions helped KO to offset falling sales in the US and Europe for 3Q.

WSJ pC6 "Boeing Slides 2.%; Apple Rides Earnings" by Donna Kardos Yesalavich says stocks fell, weighed down by disappointing 3Q rev from DuPont and Coca-Cola, while worse than expected data on home building and building eprmits hurt Home Depot and other housing related companies. The weak economic data and rev. stalled the market's momentum from Mon, when the Dow Jones Industrial Average and S&P 500 stock index both closed at highs for the year. Earnings have been coming in largely above estimates, but investors have gotten more critical of companies that haven't posted rev above forecasts as they look to justify the Dow's 53% jump over the past 7 months. Boeing was the Dow's worst performeer after Morgan stanley cut its investment rating. Home Depot, DuPont and Coca-Cola were among the Dow's other bigdecliners. Home Depot fell 2.4%, Dupont, which posted a better than expected rise in profits but an 18% drop in net sales fell 2.2%. Coca-Cola tumbled 1.3% after posting a slide in rev, although its earnings excluding items exceeded Street estimates. Caterpillar kept the Dow's declines in check as its jumped 3% after exceeding 3Q profit expectations by a wide margin and saying its preparing for a recovery that could be rapid.

Disney DIS $29.35 -0.52 1.74% 10,296,274 NYSE: WSJ pB1 "Disney Touts a Way to Ditch the DVD - Purchase of a Keychest Movie Would Allow On Demand Viewing From Multiple Devices" by Ethan Smith says Disney is close to unveiling technology that will enable entertainment companies to adapt their business models to a new reality in which consumers rely on computers and cell phones in place of DVDs and tVs. The tech code named Keychest, could shift what it means for consumers to own movies or a TV show,by redefining ownership as access rights, not physical possession. The tech would allow consumers to pay a single price for permanent access to a movie or TV show across multiple digital platforms and devices from the Web, to mobile gadgets like iPHones and cable services that allow on demand viewing. It would also facilitate orther services suc as online movie subscriptions.

DuPont DD $33.87 -0.75 2.17% 7,793,470 NYSE: WSJ pB4 by Susan Daker DuPont's 3Q earnings rose 11% from a year earlier to 409 mil, helped by cost cutting. Sales fell 18% to 5.96 bil, but CEO Ellen Kullman said markets for its industrial businesses have begun to firm. DuPont's gross margin grew to 23.5% from 18.9%.

WSJ pC1 "Stocks Fall 50.71 Points: Oil Ends Run by Peter A. Mckay, Donna Kardos Yesalavich says stocks finished lower and oil snapped an 8 day winning streak as new economic data and bearish analyst comments reignited investors' worries about the economy. A weak reading of housing starts touched off the declines Tues., sending the Dow Jones Industrial Average down almost 100 points shortly after noon. Boeing was the biggest decliner, off 2.9% after Morgan Stanley cut its rating on the aircraft maker to underweight from equal weight citing concerns about the 787. Boeing is scheduled to report earnings Wed. DuPont fell 2.2% after reporting rising profits but declining sales. The Dow's losses were tempered by a 3% rise in Caterpillar after the industrial giant exceed 3Q profit expectations by a wide margin and raised its full eyar profit outlook.

WSJ pC6 "Boeing Slides 2.%; Apple Rides Earnings" by Donna Kardos Yesalavich says stocks fell, weighed down by disappointing 3Q rev from DuPont and Coca-Cola, while worse than expected data on home building and building eprmits hurt Home Depot and other housing related companies. The weak economic data and rev. stalled the market's momentum from Mon, when the Dow Jones Industrial Average and S&P 500 stock index both closed at highs for the year. Earnings have been coming in largely above estimates, but investors have gotten more critical of companies that haven't posted rev above forecasts as they look to justify the Dow's 53% jump over the past 7 months. Boeing was the Dow's worst performeer after Morgan stanley cut its investment rating. Home Depot, DuPont and Coca-Cola were among the Dow's other bigdecliners. Home Depot fell 2.4%, Dupont, which posted a better than expected rise in profits but an 18% drop in net sales fell 2.2%. Coca-Cola tumbled 1.3% after posting a slide in rev, although its earnings excluding items exceeded Street estimates. Caterpillar kept the Dow's declines in check as its jumped 3% after exceeding 3Q profit expectations by a wide margin and saying its preparing for a recovery that could be rapid.

Exxon Mobil XOM $73.02 -0.60 0.81% 19,885,870 NYSE: No mentions found.

GE $15.58 -0.26 1.64% 100,616,509 NYSE: WSJ pB1 "Bartz makes Headway At Yahoo" by Jessica E. Bascellaro says Yahoo's CEO, Carol Bartz has revamped the struggling Yahoo's operations and the latest quarterly results show she is making headway. Yahoo has hired former GE exec, Andrew Siegel as its new head of mergers and acquisitions.

WSJ pB1 "High-Speed Rail Keeps Train Makers on Track" by Paul Glader says Russian's new trains mirror a global push in high speed rail that spans from China to the US, an effort that is buffering Siemens, Hitachi, Bombardier and other industrial giants against the economic slump. GE's rail operation primarily makes locomotives for freight trains, GE plans to sell fuel efficient locomotives for faster passengerrailroads in the US and elsewhere. GE wants to sell Amtrak more enginges that go as fast as 123 mph.

WSJ pB8 "Spielberg Extends Terms - Delayed Buyout to Aid Universal Debt Restructuring" by Lauren A. E. Schuker says Steven Spielberg agreed to extend a 22 year old deal with GE's Universal Studios theme park unit until at least 2017, delaying a possible payout and giving the parks some relief from a potential credit crunch. Universal's theme parks in rlando, Fla., are trying to restructure about $1.5 bil in debt, much of which is due in April. Delaying Mr. Spielberg's righ to a buy out will give the parkssome breathing room to restructure that sum.

Hewlett-Packard HPQ $48.74 +0.27 0.56% 12,176,859 NYSE: No mentions found.

Home Depot HD $26.97 -0.66 2.39% 12,819,802 NYSE: WSJ pC6 "Boeing Slides 2.%; Apple Rides Earnings" by Donna Kardos Yesalavich says stocks fell, weighed down by disappointing 3Q rev from DuPont and Coca-cola, while worse than expected data on home building and building eprmits hurt Home Depot and other housing related companies. The weak economic data and rev. stalled the market's momentum from Mon, when the Dow Jones Industrial Average and S&P 500 stock index both closed at highs for the year. Earnings ahve been coming in largely above estimates, but investors have gotten ore critical of companies that haven't posted rev above forecasts as they look to justify the Dow's 53% jump over the past 7 months. Boeing was the Dow's worst performeer after Morgan stanley cut its investment rating. Home Depot, DuPont and Coca-Cola were among the Dow's otehr big decliners. Home Depot fell 2.4%, Dupont, which posted a better than expected rise in profits but an 18% drop in net sales fell 2.2%. Coca-Cola tumbled 1.3% after posting a slide in rev, although its earnings excluding items exceeded Street estimates. Caterpillar kept the Dow's declines in check as its jumped 3% after exceeding 3Q profit expectations by a wide margin and saying its preparing for a recovery that could be rapid.

Intel INTC $20.18 -0.23 1.13% 66,747,315 NASDAQ-GS: WSJ pC1 "A Star Paratner's Galleon Arrest Shakes Up ranks at McKinsey" by Amol Sharma, Joann S. Lublin reports the latest on the Galleon insider trading scandal which has ensnared a top exec at each of Intel and IBM.

Similar update at NYT pB1 by Alex Berenson & Fin Times p3 by Sam Jones, Joanna Chung.

IBM $122.82 -0.24 0.2% 8,713,249 NYSE: WSJ pC1 "A Star Paratner's Galleon Arrest Shakes Up ranks at McKinsey" by Amol Sharma, Joann S. Lublin reports the latest on the Galleon insider trading scandal which has ensnared a top exec at each of Intel and IBM.

Similar update at NYT pB1 by Alex Berenson & Fin Times p3 by Sam Jones, Joanna Chung.

J.P. Morgan Chase JPM $46.03 +0.05 0.11% 30,485,604 NYSE: No mentions found.

Johnson & Johnson JNJ $60.59 -0.57 0.93% 15,572,588 NYSE: No mentions found.

Kraft KFT $27.23 +0.02 0.07% 8,301,910 NYSE: No mentions found.

McDonald's MCD $58.92 -0.36 0.61% 7,375,507 NYSE: No mentions found.

Merck MRK $33.72 -0.01 0.03% 23,016,791 NYSE: AJC pA14 has an item that says the FDA wants Merck to put a warning on its asthma drug Singulair about side effects regarding the mental health of people who take it.

Fin Times p16 "Merck reveals doctors' speaker fees afer calls for transparent - Pfizer raises earnings guidance" by Andrew Jack says Merck paid more than $3 mil in speaker fees to US doctors during the 2Q. Merck has provided less info than Eli Lilly which in recents months became the first big US pharma ro release a detailed list of payments made to doctors. Also Pfizer incrased year end guidance on sales after the completion of its acquisiton of wyether. It said year end diluted earnings per share should be 1.45-1.50 ons ales of 49 to 50 bil.

Microsoft MSFT $26.37 +0.01 0.04% 54,164,503 NASDAQ-GS: WSJ pB5 by Andrew LaVallee says Miscrosoft is still wading through the messy aftermath of a server failrue that brought the online functions of the T-Mobile Sidelick to its knees las twek but said subscribers can now recover the contacts that were stored on their phones.

WSJ pD2 "The Ultimate Buy and Holds"" by James B. stewart says he likes Google which has a natural monopoly which is proven by Microsoft's hapless efforts to compete with it.

Pfizer PFE $17.93 -0.05 0.28% 89,670,010 NYSE: WSJ pB4 by Peter Loftus & NTY pB8 by AP says Pfizer's 3Q profit rose 26% despite a drop ins ales tied in part to unfavorable currency rates. Cost cuts boosted earnings and the year earlier quarter included a sizable litigation expense. Pfizer has been cutting costs inr ecent years in the face of competition from generics and setbacks in drug research. Pfizer, which is the world's biggest drug maker by sales, is also paning job cuts rsults from its $68 bil purchase of Wyeth. PfE's profit was 2.88 bil, or 43 cents a share. excluding charges, per share earnings fell to 51 cents from 62 cents a year earlier. rev. fell 2.9% to 11.62 bil. Sales of Pfizer's biggest product, cholesterol drug Lipitor, fell 9.2%.

Fin Times p13 "Upbeat start to earnings season - Profits move ahead of forecasts at Caterpillar - Trend reflects how fast costs have been cut" by Hal Weitzman, Simone Baribeau, Jonathan Birchall says corproate America issued a strong of quarterly earnings results yesterday that exceded Wall street's expectations, reflecting how big US companies have cut costs faster than revs. have fallen. It has pictures of logos and net income of the follow Dow cos: Cat 3Q net income down 53% to $404 mi; Coke's 3Q net income at $1.9 bil unchanged; & Pfizer's 3Q net income up 26% to 2.9 Bi.

Procter & Gamble PG $58.13 +0.34 0.59% 11,229,127 NYSE: No mentions found.

3M MMM $75.95 -0.37 0.48% 3,504,240 NYSE: No mentions found.

Traveler's TRV $48.46 -0.34 0.7% 2,906,923 NYSE: No mentions found.

United Technologies UTX $65.4 -0.04 0.06% 6,555,931 NYSE: WSJ pB4 "Lockheed expects Profit Will Drop next Year - Defense Dept.'s Slow Spending Growth Spawns Prediction: United Technologies' Net Declines" by Ann Keeton says United Technologies Corp.s 3Q profit fell 17% on continued sales weakness. The earnings decline came even as a slowdown in orders earlier in the year apeared to have stabilizied. UTX said cost cuts will lead to earnings growth next eyar as the world economy gets back on its feet. UTX's restructuring program which cut 15,000 jobs, has cost $800 mil this year, more than forecast earlier.

Verizon VZ $28.8 -0.16 0.55% 18,908,988 NYSE: No mentions found.

Wal-Mart WMT $51.7 -0.19 0.37% 13,222,165 NYSE: No mentions found.
**************************************

Here are the CEOs of the Dow 30 Companies:

T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis (on 10/1 he announced his resignation as of year-end).
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly who will be replaced by John Watson at year end.
CSCO John Chambers
KO Muhtar Kent
DIS Robert Iger
DD Ellen Kullman
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

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of 10/12/09:

1. Exxon Mobil XOM $337
2. Microsoft MSFT 229
3. WalMart WMT 191
4. JPMorgan Chase 181
5. GE 174
6. Johnson & Johnson JNJ 172
7. Procter & Gamble PG 168
8. IBM 167
9. Bank of Am BAC 156
10. At&t T 151
11. Chevron CVX 148
12. Cisco CSCO 137
13. Coke KO 127
14. Pfizer PFE 115
15. Intel INTC 114
16. Hewlett-Packard HPQ 112
17. Verizon VZ 82
18. Merck MRK 69
19. McDonald's MCD 62
20. United Technologies UTX 58
21. Disney DIS 53
22. 3M MMM 52
23. Home Depot 46
24. American Express AXP 42
25. Kraft KFT 39
26. Boeing BA 38
27. Caterpillar CAT 33
28. DuPont DD 30
29. Traveler's TRV 28
30. Alcoa AA 14

Here are the latest SEC filings as of 10/12/09 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: 10/2/09 11K Annual Report of employee stock purchase plan.

8/28/09 two 8K's, one announcing 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 AT&T redeemed certain long-term debt issues as of September 28, 2009.

Alcoa AA: 10/8/09 announcing financial results for the third quarter.

7/29/09 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: 10/2/09 8K announcing departure of Alfred F. Kelly, Jr., as Pesident and head of AXP Global Consumer Group as of 4/10/09.

9/15/09 8K annoucing delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended June 30, July 31 and August 31, 2009.

9/2/09 10Q;

Bank of Am BAC: 10/9/09 several free writing prospectus regarding issuance of securities.

Boeing BA: 10/9/09 8K announcing the election to the Board and Audit & Fin. Committee of retired Admiral Edmund P. Giambastiani, Jr. former Vice-Chair of Joint Chiefs of Staff '05- '07.

10/6/09 8K announcing a charge to third quarter earnings in connection with delays in the 747-8 program.

9/15/09 8K announcing that pursuant to a 1978 SEC settlement, BA informed the SEC of a change in its policy re the appointment of foreign consultants and to whom they report.

8/31/09 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.

8/27/09 8K announcing a revised schedule for the 787 Dreamliner and a charge to third quarter earnings related to flight test aircraft.

Caterpiller CAT: 10/5/09 8K announcing price changes on most machines worldwide effective Jan. '10.

9/23/09 8K announcing a new credit agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd., that provides for an unsecured aggregate revolving credit facility up to $2.38 billion that serves as an alternative source of funds, if necessary, for CAT's commercial paper programs.

9/21/09 8K furnishing supplemental information concerning deliveries to users for its Machinery and Engines lines of business. Caterpillar sells the majority of its machinery and engines to independently owned and operated dealers and Original Equipment Manufacturers to meet the demands of their customers, the end users. Retail Sales of Machines by marketing region for the 3-month rolling period compared with the same months of the prior year were down significantlly.

9/15/09 8K announcing CAT and Navistar International Corporation (NYSE: NAV)formed a joint venture transaction resulting in a new company, NC2 Global LLC, to serve the global commercial truck market to be based in Chicago.

Chevron CVX: 10/8/09 8K announcing third quarter interim financial results.

9/30/09 8K announcing the retirement of CEO David J. OReilly who is being replaced by John S. Watson and the election to the Board as Vice-Chairman of George L. Kirkland.

8/6/09 10Q

Cisco CSCO: 10/5/09 8K announcing its offer to buy the Norwegian fimr Tandberg ASA for $3 bil.

9/23/09 Proxy Statement in connection with its Annual Meeting to be held 11/12/09.

9/11/09 10K.

9/9/09 8K Cisco appointed Arun Sarin, former CEO of Vodafone Group Plc, to its Board of Directors.

9/4/09 8K annoucing bonus payments for '09 fiscal year to: John T. Chambers, Chairman and Chief Executive Officer, $2,031,000; Frank A. Calderoni, Executive Vice President, Chief Financial Officer, $900,000; Willaim Elfrink, Executive Vice President, Cisco Services and Chief Globalization Officer, $1,000,000; Randy Pond, Executive Vice President, Operations, Processes and Systems, $900,000; and Richard J. Justice, former Executive Vice President, Worldwide Operations and Business Development and current Executive Vice President – Executive Advisor, $750,000.

Coke KO: 7/30/09 10Q

Disney DIS: 9/22/09 Form S-4 Proxy and 9/16/09 Prospectus related to the takeover of Marvel.

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: 10/7/09 8K regulation FD disclosure regarding comments made by Executive Vice President Mark Vergnano who said DuPont would return to its level of '08 profitability in 2 and a half years.

9/29/09 and 8/13/09 8Ks announcing Nicholas C. Fanandakis, age 53, Senior Vice President & Chief Financial Officer 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: 9/24/09 8K saying at its Securities Analyst Meeting, HPQ addressed how it is uniquely positioned to grow and expand in the global information technology market. “We expect the IT industry to return to growth in 2010 and believe that HP will outpace the market,” said Mark Hurd, CEO.

9/17/09 8K announcing the election of Marc L. Andreessen as a dierctor and chair of the Technology Committee of the Board. Andreessen is a co-founder and general partner of Andreessen Horowitz, a venture capital firm, and a co-founder and chairman of Ning, Inc., an online platform for people to create their own social networks. Andreessen co-founded Opsware Inc. & served as chief technology officer of America Online, Inc. and was a co-founder of Netscape Communications Corporation. Andreessen gets an retainer of $100,000, an annual equity retainer of $150,000, and $2,000 in cash for each Board meeting attended in excess of six per year. Mr. Andreessen also will be eligible to participate in the product matching portion of the HP Employee Giving Program under which each non-employee director may contribute up to $100,000 worth of HP products each year to a qualified charity by paying 25% of the list price of those products, with HP paying the remaining 75%. In addition, Mr. Andreessen will receive an annual retainer of $10,000 for service as the chair of the Technology Committee. HPQ also increased the number of HPQ directors from ten to eleven.

9/8/09 10-QA

Home Depot HD: 9/3/09 10-Q

8/26/09 8K announcing amendments to their By-Laws dealing with resignations of directors.

Intel INTC: 10/8/09 amended the 9/21/09 tender offer regarding exchange of some of its stock options with its employees.

9/15/09 8K Intel announcing Intel's consolidation of all of its major product divisions into the newly formed Intel Architecture Group, which will be co-managed by Sean Maloney and David (Dadi) Perlmutter, executive vice presidents. Maloney will be responsible for business and operations while Perlmutter will lead product development and architecture. Paul Otellini, CEO, will devote more time to corporate strategy and driving the company’s growth initiatives. Intel’s global manufacturing organization, the Technology and Manufacturing Group will now report to Andy Bryant, Intel’s chief administrative officer. Pat Gelsinger and Bruce Sewell, General Counsel, will leave INTC.

IBM: 9/8/09 8K announcing that IBM representatives will be meeting with a number of institutional investors through mid-September.

7/28/09 10Q

JPMorganChase JPM: 10/9/09 Various free writing prospectus re: issuance of securities.

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

Kraft KFT: 10/6/09 8K announcing the promotion of Kim H. Jones, 49, to VP & Corp. Controller.

9/9/09 prospectus relating to Kraft's bid to take over Cadbury that was announced on 9/7/09.

9/9/09 8K announcing a strategic update, including a review of the company’s successful three-year turnaround plan.

8/5/09 10Q

McDonalds MCD: 9/25/09 8K announcing a quarterly cash dividend of .55 cents per share payable 12/15/09.

9/9/09 8K announcing that global comparable sales rose 2.2% in August and by segment performance was as follows: U.S. up 1.7%; Europe up 3.5%; andAsia/Pacific, Middle East and Africa declined 0.5%.

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

Merck MRK: 9/21/09 8K announcing that the acquisition by Sanofi-aventis of Merck’s 50percent interest in Merial Limited (Merial) has been completed. Sanofi-aventis acquired Merck’s interest in Merial for a cash consideration of $4 billion. Formed in 1997, Merial is a leading animal health company that was a 50/50 joint venture between Merck and sanofi-aventis and is now a wholly-owned subsidiary of sanofi-aventis.

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

Microsoft MSFT: 10/6/09 Proxy Statement regarding the Shareholders Annual Meeting to be held in Bellevue, Washington on 11/19/09.

9/11/09 8K James Cash to retire from Board of Directors. The
Harvard Business School professor and senior associate dean emeritus had served on the board since 2001. With Cash’s departure, the Microsoft board will have nine members: Bill Gates, chairman of Microsoft; Steve Ballmer; Dina Dublon, former chief financial officer of JPMorgan Chase; Raymond V. Gilmartin, former chairman, president and chief executive officer of Merck & Co. Inc.; Reed Hastings, founder, chairman and CEO of Netflix Inc.; Maria M. Klawe, president, Harvey Mudd College; David F. Marquardt, general partner at August Capital; Charles H. Noski, former vice chairman of AT&T Corp.; and Dr. Helmut Panke, former chairman of the board of management at BMW AG.

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

Pfizer PFE: 9/24/09 8K announcing the expansion of the Board to 14 members pursuant to the agreement to merge with Wyeth and electing two Wyeth directors to the newly expanded Board: Frances D. Fergusson and John P. Mascotte.

9/24/09 11-K Annual Report of Employee Stock Option Plan.

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: 11K Annual Report of Employee Stock Purchase Plan.

9/10/09 8K confirmed its fiscal year 2010 and July – September quarter outlook for organic sales growth. The company also stated it expects to return to organic sales growth in the October – December quarter compared to prior year levels, following two quarters of organic sales declines. P&G also updated earnings per share guidance to include the anticipated impacts from the Pharmaceutical divestiture, which was announced on August 24, 2009. For fiscal year 2010, P&G confirmed previous guidance for organic sales growth of one to three percent. P&G expects net sales in the range of flat to up three percent versus prior year levels, which includes a foreign exchange impact of zero to minus one percent. P&G now expects fiscal 2010 earnings per share in the range of $3.99 to $4.12 per share. This includes a one-time net increase in earnings of $0.44 per share from the sale of the Pharmaceutical business, which will be partially offset by $0.10 to $0.12 per share of earnings dilution related to the transaction.

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: 8K 9/11/09 8K announcing VZ's cash flow and balance sheet are strong, and VZ recently increased its dividend for the third consecutive year. VZ is not planning for any economic improvements in the second half of 2009. Verizon expects that economic conditions will continue to pressure revenues and margins in the second half of 2009, particularly in its Wireline segment. VZ expects to add one million wireless customers per quarter for the next several quarters.
The company expects to achieve its stated Alltel cost synergy targets & greater cash flow from operations in the second half of 2009 compared to the first half of 2009.

9/4/09 8K 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.

9/4/09 8K annoucning retirement of Dennis F. Strigl, President and Chief Operating Officer of Verizon Communications Inc.

Wal-Mart WMT: 8K 9/18 Pricing agreement re: the 9/16 filed prospectus relating to $1 bil of Euro Note Offering at 4.875%

9/14/09 Prospectus re debt securities of $364,600,000

9/9/09 10Q

8/13/09 8K re 7/31/09 2Q report of earnings