10/26/09 Mon. pm Dow Closes at 9867.96 down 104.22 or 1.03%

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Post #179 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.

The Dow Jones Industrial Average closed Monday at 9867.96 down 104.22 or 1.03% from Friday's close of 9972.18. Of the 30 Dow Companies: 27 declined and 3 gained. The biggest gainer dollar-wise and percentage-wise was Microsoft MSFT $28.68 +0.66 2.36% 124,019,871 NASDAQ-GS and the biggest decliner dollar-wise was Boeing BA $48.29 -1.60 3.21% 7,427,640 NYSE and percentage-wise was Bank of America BAC $15.4 -0.82 5.06% 375,773,441 NYSE NYSE.

Monday's Dow Jones Industrial Average closing numerator was 1305.72 down 13.79 from Friday's closing Dow numerator of 1319.51. 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 Monday the Dow's trailing P/E ratio is 16.38 down from Friday's 16.51 (year ago was nil), the P/E estimate is 16.03 up from Friday's 16.02 (1 year ago it was 9.93), and the dividend yield is 2,80 up from Friday's 2.77 (a year ago it was 3.88).

Now, if you divide the Dow numerator decrease of 13.79 for Monday by the divisor you get the decrease of 104.22 in Monday's Dow close.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 43.52 down 0.46 from Friday's Dow Jones Industrial Average closing price of 43.98. The median closing price of Monday's Dow Jones Industrial Average was 39.35 down 0.56 from Friday's Dow Jones median closing price of 39.91.

The highest closing price Monday again was IBM $IBM $120.11 -0.25 0.21% 6,537,992 NYSE and the lowest closing price Friday again was Alcoa AA $13.28 -0.45 3.28% 30,917,331 NYSE.

The lowest volume Monday was United Technologies UTX $64.83 -0.98 1.49% 5,456,677 NYSE and the highest volume again was Bank of Am BAC $15.4 -0.82 5.06% 375,773,441 NYSE.

If Monday 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 $1,380.
($131,940 -$130,560)

Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market

T $25.31 -0.42 1.63% 34,504,002 NYSE
AA $13.28 -0.45 3.28% 30,917,331 NYSE
AXP $34.88 +0.30 0.87% 17,916,487 NYSE
BAC $15.4 -0.82 5.06% 375,773,441 NYSE
BA $48.29 -1.60 3.21% 7,427,640 NYSE
CAT $57.07 -0.53 0.92% 9,791,895 NYSE
CVX $75.45 -1.23 1.6% 11,142,936 NYSE
CSCO $23.7 -0.47 1.94% 45,675,950 NASDAQ-GS
KO $53.23 -0.01 0.02% 10,783,715 NYSE
DIS $28.65 -0.24 0.83% 13,255,664 NYSE
DD $32.42 -0.81 2.44% 9,266,899 NYSE
XOM $73.23- 0.34 0.46% 27,125,359 NYSE
GE $15.01- 0.19 1.25% 96,199,180 NYSE
HPQ $47.86- 0.70 1.44% 11,215,353 NYSE
HD $26.1 -0.17 0.65% 17,851,210 NYSE
INTC $19.83 +0.05 0.25% 62,984,947 NASDAQ-GS
IBM $120.11 -0.25 0.21% 6,537,992 NYSE
JPM $43.82 -1.41 3.12% 42,064,558 NYSE
JNJ $60.09 -0.45 0.74% 11,790,697 NYSE
KFT $26.7 -0.35 1.29% 11,127,994 NYSE
MCD $59.2 -0.23 0.39% 9,013,504 NYSE
MRK $32.02- 0.41 1.26% 18,345,501 NYSE
MSFT $28.68 +0.66 2.36% 124,019,871 NASDAQ-GS
PFE $17.12 -0.13 0.75% 64,462,280 NYSE
PG $56.9 -0.74 1.28% 10,404,180 NYSE
MMM $76.82 -1 1.29% 3,881,252 NYSE
TRV $51.24 -0.06 0.12% 6,702,365 NYSE
UTX $64.83 -0.98 1.49% 5,456,677 NYSE
VZ $28.64 -0.21 0.73% 26,809,211 NYSE
WMT $49.84 -0.60 1.19% 15,271,837 NYSE
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The following appeared in Monday morning's Blog:

A read of Monday's 10/26/09 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 Friday's closing price and related data:

Dow: 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 Monday the Dow's trailing P/E ratio is 16.38 down from Friday's 16.51 (year ago was nil), the P/E estimate is 16.03 up from Friday's 16.02 (1 year ago it was 9.93), and the dividend yield is 2,80 up from Friday's 2.77 (a year ago it was 3.88).

AT&T T $25.73 -0.37 1.42% 36,791,140 NYSE: Fin Times p17 "Google's Android bites Apple" by Chris Nuttral says the Apple iPHone which has been setting the bar in touchscreen smartphones could soon be overtaken by an army of Google powered handsets. Android based phones, handsets that use the open source Google mobile oeprating system, are on the march as non iPHone carriers look for a rival fto Apple's device. Since its was introduced a year ago, Android is now used on 12 handsets with 32 carriers in 26 countires. Soon HTC of Taiwan, Motorola and Sumsiung, will be rushing out models in the US before the end of the year which will use Android. Sprint and Verizon Wireless are joining T-Mobile as Android supporters. Verizon has launched an anti-iPhone advertising campaign, satirizing the Apple handset and its exclusive carrier, AT&T, teasing viewers with the promise of its first Android phones in Nov. Android will eventually beat the iPHone because it will feature on many more handset models. Apple has only the iPHone and does not license its oeprating system or technology.

Alcoa AA $13.73 -0.31 2.21% 28,858,938 NYSE: No mentions found.

American Expess AXP $34.58 -1.86 5.1% 21,489,992 NYSE: No mentions found.

Bank of America BAC $16.22 -0.30 1.82% 180,423,798 NYSE: USA Today p1B says BofA paid top execs an average of $18.2 mil last year.

Boeing BA $49.89 -1.18 2.31% 5,820,177 NYSE: No mentions found.

Caterpillar CAT $57.6 -1.14 1.94% 8,727,613 NYSE: No mentions found.

Chevron CVX $76.68 -0.61 0.79% 8,257,772 NYSE: NYT pB3 says CVX will report earnings on Fri.

Fin. Times p20 "Focus falls on Exxon's next move" by Sheila McNulty says investors are waiting to see if Exxon will seek acquisitions. The world's biggest publicly listed oil company had a record $60 bil in cash flow from operating activities last year, a warchest that it could use to buy assets from groups struggling to cope with dropping demand and plunging commodity prices. Rex Tillerson, Exxon's ceo said it is waiting for the market to settle before making its move. Exxon is offering to buy the 23.5% stake held by Kosmos, in the Jubilee oilfield in Ghana. Exxon could buy the other investors in the Jubille project as well as the Anadarko and Tullow projects nearby in order to gain access to the new oil cost. Story notes that ConocoPHillips will repot earnings on Wed and Chevron on Fri.

Cisco CSCO $24.17 -0.01 0.04% 42,316,065 NASDAQ-GS: No mentions found.

Coca-Cola KO $53.24 -0.91 1.68% 10,697,495 NYSE: No mentions found.

Disney DIS $28.89 -0.55 1.87% 9,710,809 NYSE: NYT pB3 "Disney Hopes "Christmas Carol" Lives Up to Its Blocbuster Marketing" by Brooks Barnes says Disney is promoting its new 3-D version of "A Christmas Carol" to be released on Nov. 6. Dis is under pressure to deliver a big hit after losing money in the most recent quarter. It is awkward because the movie is arriving without its cheerleader in chief: Dick Cook who was ousted as studio chairman last month after clashing with Dis's CEO, Robert A. Iger.

Fin Times p19 "Disney is aiming for a fairytale start in Russia" by Matthew Garrahan who interviews Dis CEO Bob Iger who talks about Disney's upcoming release this week of Book of Masters its first Russian film. Iger says local production strenthens Dis' bond with international audiences. Photo of Iger shows a frown.

Related story at Fin Times p1 "Disney chief tells Hollywood it must rewrite the script to survive" by Matthew Garrahhan says Bob Iger, Dis' ceo has issued a stark warning to Hollywood, saying the film business is changing right before their eyes. DVD sales have been Hollywood's leading cash genrator for the past decade but sales are tumbling and have not been replaced by reveneus from altenative platforms, such as digital distribution. Next month Dis plans to unveil Keychest a new technology that will allow digital copies of films to be stored remotely and then viewed and moved across platforms, such as smartphones, or games consoles such as Microsoft's Xbox. Dis has cut jobs and scaled back production at its Miramax label and struck a distribution deal with Steven Spielberg's Dream Works studo. These moves will limit Dis' exposure to costly film production, while ensuring it has a steady stream of films to distribute from the most bankable director in Hollywood.

DuPont DD $33.23 -0.82 2.41% 7,216,260 NYSE: No mentions found.

Exxon Mobil XOM $73.57 -0.87 1.17% 20,460,208 NYSE: Fin Times p26 & NYT pB3 say XOM will report earnings Thur.

Fin. Times p20 "Focus falls on Exxon's next move" by Sheila McNulty says investors are waiting to see if Exxon will seek acquisitions. The world's biggest publicly listed oil company had a record $60 bil in cash flow from operating activities last year, a warchest that it could use to buy assets from groups struggling to cope with dropping demand and plunging commodity rpices. Rex Tillerson, Exxon's ceo said it is waiting for the market to settle before making its move. Exxon is offering to buy the 23.5% stake held by Kosmos, in the Jubilee oilfield in Ghana. Exxon could buy the other investors in the Jubille project as well as the Anadarko and Ullow projects nearby in order to gain access to the new oil cost. Story notes that ConocoPHillips will repot earnings on Wed and Chevron on Fri.

GE $15.2 -0.14 0.91% 86,737,008 NYSE: NYT pB1 "A Big Deal, But Not A Good One" by David Carr discusses Comcast's likely purchase of GE's NBC that has content assets in broadcast, cable, film and on the Web. Comcast has 24 mil customers in 39 states that make up 95% of its rev. Comcast wants to diversify because cable systems are under a variety of threats. The fate of Jeff Zucker, the head of NBC if there is a merger is unknown. Comcast would offer $27 bil, creating a new enterprise that takes on $9 bil in debt while Comcast would contribute its cable channels, including E Entertainment, Style network and Golf Channel, along with other channels and its local sports networks worth $6 bil. Comcasat would give $6 bil to Vivendi for its 20% share of NBC Universal to own 51% of the company and eventually buy out GE. Article says its not a bad time to buy NBC Universal which is struggling with its big assets, NBC and Universal Studio. But NBC's cable channels, CNBC, MSNBC, Bravo, SyFy and USA are profitable. Video on demand is taking off. The deal also comes with a 30% stake in Hulu, the online video service. However, the deal will have trouble getting approved by regulators and is hurting Comcast's share value.

Hewlett-Packard HPQ $48.56 +0.24 0.5% 13,478,910 NYSE: No mentions found.

Home Depot HD $26.27 -0.45 1.68% 16,248,363 NYSE: No mentions found.

Intel INTC $19.78 -0.34 1.69% 82,417,110 NASDAQ-GS: WSJ pA17 "Outsider Trading and Too Much Info" by L. Gordon Crovitz discusses the Galleon insider trading case and notes that it has ensnared execs from IBM and Intel and says it is difficult to tell if it is hard to tell the difference between inside information and legal research info from insiders.

IBM $120.36 -2.33 1.9% 6,734,737 NYSE: WSJ pA17 "Outsider Trading and Too Much Info" by L. Gordon Crovitz discusses the Galleon insider trading case and notes that it has ensnared execs from IBM and Intel and says it is difficult to tell if it is hard to tell the difference between inside information and legal research info from insiders.

J.P. Morgan Chase JPM $45.23 -0.48 1.05% 27,496,037 NYSE: USA Today p5B "Dimon bio is a fun read that's flattering, but not gushy" by Kathryn Canavan reviews "Last Man Standing: the Ascent of Jamie Dimon and JPMorgan Chase" by Duff McDonald, Simon Schuster, 340 pages sold for $28 and says Dimon refused to promote the boss's daughter, lets loose with F-bombs in haute banking circles, and shows up at a black time event in Manhattan waring a business book and calls him the world's most important banker.

Johnson & Johnson JNJ $60.54 -0.40 0.66% 10,654,010 NYSE: Fin. Times p20 "J&J to seek agreements with rivals to share risk" by Andrew Jack says JNJ will in the futrue take more long term minority stakes and forge alliances with rival pharmaceutical companies in an effrot to share the rising costs and risks of drug development according to William Weldon, JNJ's CEO. JNJ recently approved the purchase of 18% of the equity of Elan, the Irish biotech company, for Alzhemer's and multipel sclerosis drugs, and a similar investment in Crucell, the Dutch vaccines biz. JNJ also this summer signed an alliance with Gilead, the US biotech group, by joint trials to develop a once daily HIV therapy combining JNJ's experimental medicine TMC278 with Gilead's Truvada, which combines its drugs Viread and Emtriva. JNJ has long managed at arm's length many subsidiaries in its 3 divisions covering consumer healthcare, emdical devices and drugs. it allows them to retain considerable autonomy but it has usually chosen fully to acquire these companies and centralize back office oeprations. GloxoSmithKline and Pfizer are also forming partnerships instead of taking full control of drug development. Glaxo and Pfizer are combining their experiemntal and existign HIV medicines into a jv and Bristol-Myers Squibb is doing jv projects with Astra-Zeneca for cancer and with Gilead fo rHIV. Through the Elan deal, JNJU is becoming linked to Elan's paratners, Biogen IDEC and Syeth, now part of Pfizer with which it is devleoping Alzheimer's drug.

Kraft KFT $27.05 -0.06 0.22% 10,397,817 NYSE: WSJ pC8 "Heard on Street - Cadbury Would Help Kraft Get Fit" by John Jannarone says Kraft announced a $16 bil offer for British Cadbury in Sept that has been rejected by the board and called insufficient by Cadbury shareholders. Fears that Kraft would overpay for the target have dragged its shares down 4% since then, even as the S&P has climbed 6%. Kraft may have troubles surviving as a stand alone company with voume growth at a near halt and further price hikes looking difficult, cost cuts are probably Kraft's only shot at meaningful profit growth. Kraft's operating margins excluding items ahve fallen to 12.9% last year from 21.1% in '02, shortly after Kraft went public. Kraft says it willr estore midteen % margins by '11 even without Cabury. Kraft spent $3.1 bil on a 5 year restructuring program in '08 but operating margins continued to fall, Kraft cutting thousands of jobs and closing factories didn't offset rising commodity costs that lasted into '08. Although commodities costs have fall this year and helped margins a big int he first half but some commodity prices such as milk and sugar are increasing. Competition is fierce and WalMart and Kroger are driving prices lower. A deal with Cadbury would help them lower costs.

McDonald's MCD $59.43 -0.07 0.12% 7,586,233 NYSE: No mentions found.

Merck MRK $32.43 -0.44 1.34% 16,822,041 NYSE: WSJ pB4 item says the European Union approved the proposed tie up of US drug makers Merck & Co. and Schering-Plough Corp. which would create the second biggest global producer of prescripton medicines. The $41.1 bil deal will allow Merck to jump just behind Pfizer and would have $42.4 bil in annual sales and hopes to close in 4Q. To avoid antitrust problems, Merck sold its 50% stake in an animla health company Merial Limited to Sanofi-Avantis SA, its partner in the jv which still need approval from US FTC.

Microsoft MSFT $28.02 +1.43 5.38% 281,089,053 NASDAQ-GS: Fin Times p1 "Disney chief tells Hollywood it must rewrite the script to survive" by Matthew Garrahhan says Bob Iger, Dis' ceo has issued a stark warning to Hollywood, saying the film business is changing right before our eyes. DVD sales have been Hollywood's leading cash geenrator for the past decade but sales are tumbling and ahve not been replaced by reveneus from altenative platforms, such as digital distribution. Next month Dis plans to unveil Keychest a new technology that will allow digital copies of films to be stored remotely and then viewed and moved across platforms, such as smartphones, or games consoles such as Microsoft's Xbox. Dis has cut jobs and scaled back production at its Miramax label and struck a distribution deal with Steven Spielberg's Dream Works studo. These moves will limit Dis' exposure to costly film production, while ensuring it has a steady stream of films to distribute from the most bankable director in Hollywood.

Pfizer PFE $17.25 -0.31 1.77% 59,292,345 NYSE: WSJ pB4 item says the European Union approved the proposed tie up of US drug makers Merck & Co. and Schering-Plough Corp. which would create the second biggest global producer of prescripton medicines. The $41.1 bil deal will allow Merck to jump just behind Pfizer and would have $42.4 bil in annual sales and hopes to close in 4Q. To avoid antitrust problems, Merck sold its 50% stake in an animla health company Merial Limited to Sanofi-Avantis SA, its partner in the jv which still need approval from US FTC.

Fin. Times p20 "J&J to seek agreements with rivals to share risk" by Andrew Jack says JNJ will in the futrue take more long term minority stakes and forge alliances with rival pharmaceutical companies in an effrot to share the rising costs and risks of drug development according to William Weldon, JNJ's CEO. JNJ recently approved the purchase of 18% of the equity of Elan, the Irish biotech company, for Alzhemer's and multipel sclerosis drugs, and a similar investment in Crucell, the Dutch vaccines biz. JNJ also this summer signed an alliance with Gilead, the US biotech group, by joint trials to develop a once daily HIV therapy combining JNJ's experimental medicine TMC278 with Gilead's Truvada, which combines its drugs Viread and Emtriva. JNJ has long managed at arm's length many subsidiaries in its 3 divisions covering consumer healthcare, emdical devices and drugs. It allows them to retain considerable autonomy but it has usually chosen fully to acquire these companies and centralize back office operations. GloxoSmithKline and Pfizer are also forming partnerships instead of taking full control of drug development. Glaxo and Pfizer are combining their experiemntal and existign HIV medicines into a jv and Bristol-Myers Squibb is doing jv projects with Astra-Zeneca for cancer and with Gilead fo rHIV. Through the Elan deal, JNJU is becoming linked to Elan's paratners, Biogen IDEC and Wyeth, now part of Pfizer with which it is devleoping Alzheimer's drug.

Procter & Gamble PG $57.64 -0.49 0.84% 10,648,499 NYSE: Fin Times p26 & NYT pB3 say PG will report earnings on Thurs.

3M MMM $77.82 -0.97 1.23% 5,421,000 NYSE: No mentions found.

Travelers TRV $51.3 -0.40 0.77% 4,878,237 NYSE: No mentions found.

United Technologies UTX $65.81 -0.09 0.14% 5,524,665 NYSE: No mentions found.

Verizon VZ $28.85 -0.17 0.59% 19,760,320 NYSE: Fin Times p26 and NYT pB3 say Verizon Communications will report earnings today.

Fin Times p17 "Google's Android bites Apple" by Chris Nuttral says the Apple iPHone which has been setting the bar in touchscreen smartphones could soon be overtaken by an army of Google powered handsets. Android based phones, handsets that use the open source Google mobile oeprating system, are on the march as non iPHone carriers look for a rival fto Apple's device. Since it was introduced a year ago, Android is now used on 12 handsets with 32 carriers in 26 countires. Soon HTC of Taiwan, Motorola and Sumsiung, will be rushing out models in the US before the end of the year which will use Android. Sprint and Verizon Wireless are joining T-Mobile as Android supporters. Verizon has launched an anti-iPhone advertising campaign, satirizing the Apple handset and its exclusive carrier, AT&T, teasing viewers with the promise of its first Android phones in Nov. Android will eventually beat the iPHone because it will feature on many more handset models. Apple has only the iPHone and does not license its oeprating system or technology.

Wal-Mart WMT $50.44 -0.04 0.08% 15,047,772 NYSE: WSJ pC8 "Heard on Street - Cadbury Would Help Kraft Get Fit" by John Jannarone says Kraft announced a $16 bil offer for British Cadbury in Sept that has been rejected by the board and called insufficient by Cadbury shareholders. Fears that Kraft would overpay for the target have dragged its sahres down 4% since then, even as the S&P has climbed 6%. Kraft may have troubles surviving as a stand alone company with voume growth at a near halt and further price hikes looking difficult, cost cuts are probably Kraft's only shot at meaningful profit growth. Kraft's operating margins excluding items have fallen to 12.9% last year from 21.1% in '02, shortly after Kraft wen public. Kraft says it willr restore midteen % margins by '11 even without Cabury. Kraft spent $3.1 bil on a 5 year restructuring program in '08 but operating margins continued to fall, Kraft cutting thousands of jobs and closing factories didn't offset rising commodity costs that lasted into '08. Although commodities costs have fall this year and helped margins a big int he first half but some commodity prices such as milk and sugar are increasing. Competition is fierece and WalMart and Kroger are driving prices lower. A deal with Cadbury would help them lower costs.
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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 who will be replaced by Douglas Oberhelman in 2010.
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