11/16/09 Fri. am BofA's CEO Must Return Pay/IBM Has Good Results

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

Post #162 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 Friday's 10/15/09 print editions of: Wall Street Journal, New York Times, The Financial Times, Investors Business Daily, USA Today and the 10/15/ - 10/22/09 issue of the Atlanta Business Chronicle 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 Thursday at 10,062. up 62.94 or 0.47% from Wednesday's close of 10,015.66. Of the 30 Dow Companies: 9 declined, 20 gained and JP Morgan was unchanged. The biggest gainer dollar-wise was CVX $76.69 +1.23 1.63% 10,275,239 NYSE and percentage-wise was MSFT $26.71 +0.75 2.89% 63,599,238 NASDAQ-GS and the biggest decliner dollar wise was BA $51.76 -0.75 1.43% 5,683,003 NYSE and percentage-wise was BAC $18.1 -0.49 2.64% 211,021,920 NYSE NYSE.

WSJ pC1 "Oil Lifts Dow to 10062.94 In Late Rally" by Peter A. McKay says a surge in oi lifted energy stocks, which helped the broader market extend Wednesday's gains and the Dow Jones Industrial Average stay above 10000 for a second day. Exxon Mobil and chevron rose 1.5% and 1.6% respectively.

WSJ pC5 "Large Stock Focus - Oil Boosts Chevron . . ." by Geoffrey Rogow says a surge in oil prices helped Chevron and Exxon Mobil pushed the Dow Jones Industrial Average further above the 10000 level Thurs., although early morning earnings reports from Goldman Sachs Group and Citigroup kept the gains muted.

Fin Times p26 "Wall Street" by Aline van Duyn says US equity markets got a late boost from stronger oil and strength int he energy sector, with the S&P 500 again setting a fresh high for '09. IBM closely watched for signs of spending on tech, also released results after the bell, reporting 2.40 per share. Earnings from 2 large banks come after JPM on Wed. injected renewed confidence into the sector as its biggest profit for more than 2 years helped push the Dow through the 10,000 barrier on Wed. JPM's shares held up better than some rivals and was unchanged.

NYT pB8 "The Dow Holds Its Gains, Remaining Above 10000" by Jack Healy says a day after the Dow Jones industrial average punched through 10,000 for the first time in a year, stocks assured doubters that they could stay above the threshold. Shares pushed higher in the final minutes of trading after moving listlessly for much of the day after Citigroup and Goldman Sachs reported their quarterly results.

USA Today p4B "Stocks clsoe at another 2009 record" by Matt Krantz says stocks advanced slightly Thurs., pushing markets to a new '09 high, as ivnestors looked past mixed earnings reuslts from financial companies.

Investors Bus. Daily pA1 "Stocks Stage Positve Reversal, But Volume Is Mixed" by Paul Whitfield says stocks rode a bumpy day to a positive reversal and to a higehr finish Thursday. The Dow led with a 0.5% gain, helped by roughly 1.5% pops from oil heavyweights Chevron and Exxon Mobil. Oil jumped 3% closing at $77.58 a barrel.

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 open Friday the Dow's trailing P/E ratio is 16.11.

Thursday's Dow Jones Industrial Average closing numerator was 1331.52 up 6.23 from Wednesday's closing Dow numerator of 1325.29. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator increase of 6.23 for today by the divisor you get the increase of 47.08 in Thursday's Dow close.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was 44.38 up .20 from Wednesday's Dow Jones Industrial Average closing price of 44,18. The median closing price of Thursday's Dow Jones Industrial Average was 40.85 down 0.28 from Wednesday's Dow Jones median closing price of 41.13. The highest closing price Thursday again was IBM $127.98 -0.37 0.29% 11,663,170 NYSE and the lowest closing price Wednesday again was Alcoa AA $14.36 +0.04 0.28% 27,920,523 NYSE.

The lowest volume Thursday again was 3M MMM $76.77 +0.20 0.26% 3,693,608 NYSE and the highest volume again was Bank of Am BAC $18.1 -0.49 2.64% 211,021,920 NYSE NYSE. If Thursday morning before the market opened you had purchased $100 of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $623. ($133,153 - 132,529)

T $25.91 +0.08 0.31% 25,918,320 NYSE: No mentions found.

AA $14.36 +0.04 0.28% 27,920,523 NYSE: No mentions found.

American Express AXP $35.54 +0.45 1.28% 21,643,979 NYSE: Inv. bus. Daily pA2 notes that BofA's credit card defaults fell to 14.25% while American Express charge-offs fell to 8.4% in an item entitled "Credit card defaults fell in Sept."

Bank of America BAC $18.1 -0.49 2.64% 211,021,920 NYSE: WSJ pA1 Front Page Headline "Czar Blocks BofA Chief's Pay - Lewis to Return $1 Mil as US Objects to Retirement Dea: Feinberg Flexes Muscle" by Deborah Solomon, Dan Fitzpatrick says the US Treasury Dept's pay czar pressured BofA ougoing CEO Kenneth D. Lewis into giving back $1 mil he received so far this year and to forego the rest of his $1.5 mil salary for '09. According to a side chart: Big Deal because he still walks out with alomst $70 mil in shares, pension benefits and deferred comp.

Also reported at NYT pB1 by Louise Story, Eric Dash, Inv. Bus. daily at pA2 and USA today p1B.

Inv. bus. Daily pA2 notes that BofA's credit card defaults fell to 14.25% while American Express charge-offs fell to 8.4% in an item entitled "Credit card defaults fell in Sept."

BA $51.76 -0.75 1.43% 5,683,003 NYSE: No mentions found.

CAT $54.77 +0.26 0.48% 7,367,163 NYSE: No mentions found.

Chevron CVX $76.69 +1.23 1.63% 10,275,239 NYSE: WSJ pC1 "Oil Lifts Dow to 10062.94 In Late Rally" by Peter A. McKay says a surge in oil lifted energy stocks, which helped the broader market extend Wednesday's gains and the Dow Jones Industrial Average stay above 10000 for a second day. Exxon Mobil and chevron rose 1.5% and 1.6% respectively.

WSJ pC5 "Large Stock Focus - Oil Boosts Chevron . . ." by Geoffrey Rogow says a surge in oil prices helped Chevron and Exxon Mobil push the Dow Jones Industrial Average further above the 10000 level Thurs., although early morning earnings reports from Goldman Sachs Group and Citigroup kept the gains muted.

Cisco CSCO $24.366 -0.014 0.06% 35,853,662 NASDAQ-GS: WSJ pB4 "Cisco's $3 Bil Bid for Tandberg Runs Into Resistance" by Gustav Sandstrom says shareholders representing 24% of the shares in Tandberg ASA on Thurs. rejected Cisco Systems Inc.'s $3 bil offer for the video-conferencing equipment maker, fueling hopes that Cisco may raise its bid. Cisco has pushed into 30 new biz areas, including video-conferencing systems, which it says could each produce $1 bil a year in rev. The move into telepresence reinforces Cisco's rivalry with Hewlett-Packard Co., which also sells video conferencing gear and has stepped up its investment in networking equipment.

Also reported at Fin Times p16 by Maija Palmer, NYT pB4 and mentioned at Fin Times p26 in a story about European stocks by Courtney Weaver where it was noted that Tandberg was up 1.8%.

Coca-Cola KO $54.92 +0.08 0.15% 12,120,484 NYSE: Atlanta Business Chronicle p23A "Coca-Cola to offer mini cans" says KO will soon sell its beverages in a new 9-calories mini can that will contain 7.5 fluid ounces.

Atlanta Business Chronicle p15A "Aaron's hikes sports marketing budget by 10%" by Lisa R. Schoolcraft says Aaron's has boosted its sports marketing budget by 10%, about $1 million a year. It says that Philips Arena, home to the NBA's Atlanta Hawks and NHL's Atlanta Thrashers is renewing their sponsorships that have been in place since it opened in '99 and those up for renewal include KO and The Home Depot.

DIS $29.23 +0.32 1.11% 8,734,009 NYSE: No mentions found.

DD $34.57 -0.01 0.03% 5,006,822 NYSE: No mentions found.

Exxon Mobil XOM $72.94 +1.10 1.53% 24,088,590 NYSE: WSJ pC1 "Oil Lifts Dow to 10062.94 In Late Rally" by Peter A. McKay says a surge in oil lifted energy stocks, which helped the broader market extend Wednesday's gains and the Dow Jones Industrial Average stay above 10000 for a second day. Exxon Mobil and Chevron rose 1.5% and 1.6% respectively.

WSJ pC5 "Large Stock Focus - Oil Boosts Chevron . . ." by Geoffrey Rogow says a surge in oil prices helped Chevron and Exxon Mobil push the Dow Jones Industrial Average further above the 10000 level Thurs., although early morning earnings reports from Goldman Sachs Group and Citigroup kept the gains muted.

GE $16.79 -0.05 0.3% 92,067,972 NYSE: WSJ pB1 In a story by Ethan Smith, Jeffrey McCracken about how the Justice Dept is dealing in a tough way with a proposed merger between Ticketmaster Entertainment Inc. and Live Nation Inc. it says that the Ticketmaste deal is a bellwether of DOJ's attitude toward such potential deals as Comcast Corp.s proposal to take a majority stake in GE Co.'s NBC Universal. Like the proposed Ticketmaster deal, a Comcast/NBC deal would result in vertical integration in which links in the chain between producer and consumer are consolidated.

Hewlett-Packard HPQ $48 +0.11 0.23% 11,896,726 NYSE: WSJ pB4 "cisco's $3 Bil Bid for Tandberg Runs Into Resistance" by Gustav Sandstrom says shareholders representing 24% of the shares in Tandberg ASA on Thurs. rejected Cisco Systems Inc.'s $3 bil offer for the video-conferencing equipment maker, fueling hopes that Cisco may raise its bid. Cisco has pushed into 30 new biz areas, including video-conferencing systems, which it says could each produce $1 bil a year in rev. The move into telepresence reinforces Cisco's rivalry with Hewlett-Packard Co., which also sells video conferencing gear and has stepped up its investment in networking equipment.

Home Depot HD $27.3 -0.08 0.29% 13,350,045 NYSE: Atlanta Business Chronice p8A "Home Depot's frank Balke elaves Southern Co. board" says The Home Depot Inc. Chairman and CEO Frank Balke stepped down from Southern Co.'s board of directors on Oct. 7.

Atlanta Business Chronicle p15A "Aaron's hikes sports marketing budget by 10%" by Lisa R. Schoolcraft says Aaron's has boosted its sports marketing budget by 10%, about $1 million a year. It says that Philips Arena, home to the NBA's Atlanta Hawks and NHL's Atlanta Thrashers is renewing their sponsorships that have been in place since it opened in '99 and those up for renewal include KO and The Home Depot.

Intel INTC $20.67 -0.161 0.77% 80,321,197 NASDAQ-GS: WSJ pB4 "AMD Posts Smaller Loss Than Forecast" by Don Clark says Advanced Micro Devices Inc. reported a narrower net loss than expected in the third quarter benefiting from a rebounding PC market that also aided rival Intel Corp.

IBM $127.98 -0.37 0.29% 11,663,170 NYSE: WSJ pB4 "IBM Net Rises on Strenth in Software - As Sales Slumped, Move to Higher-Margin Businesses, Plus Cost Cuts, Kicked In" by William Bulkeley says IBM slightly exceeded analysts' profit estimate with a 14% increase in 3Q net income and its 6.9% rev decline was much lower than in the prior quarter. Its 3Q profit rose to $3.21 bil or 2.40 a share, from $2.82 bil or 2.04 a share, a year earlier. Rev fell to 23.57 bil from 25.3 bil.

Fin Times p26 "Wall Street" by Aline van Duyn says US equity markets got a late boost from stronger oil and strength int he energy sector, with the S&P 500 aggain setting a fresh high for '09. IBM closely watched for signs of spending on tech, also released results after the bell, reporting 2.40 per share. Earnings from 2 large banks come after JPM on Wed. injected renewed confidence into the sector as its biggest profit for more than 2 years helped push the Dow through the 10,000 barrier on Wed. JPM's shares held up better than some rivals and was unchanged.

NYT pB1 "The Tech Sector Trumpets Signs of a Real Rebound" by Steve Lohr says the for many tech companies, orders are starting to come in stronger. There are encouraging signs from tech giants like Intel, IBM and Google who all delivered better than expected quarterly financial results this week.

USA Today p1B "IBM confident despite sales slump" says IBD raised its full-year profit guidance again. IBM says '09 earnings shold be at least $9.85 a share. In July, it raised its guidance to $9.70 a share.

Also reported at Inv. Business Daily at pA1 and A4.

J.P. Morgan Chase JPM $47.16 unch unch 36,066,429 NYSE: WSJ pC1 in a story by David Enrich about Citigroup's 3Q results it says that especially surprising was Citigroup's weak showing in fixed-income trading, an area that this week propelled J.P. Morgan Chase and Goldman Sachs to expectation-beating results.

WSJ pC10 "Heard on Street" also compares JPM's stronger results with Citigroup's 3Q results.

JNJ $60.94 +0.39 0.64% 14,044,915 NYSE: No mentions found.

KFT $26.63 +0.34 1.29% 10,000,145 NYSE: No mentions found.

McDonalds MCD $58.2 +0.70 1.22% 8,132,674 NYSE: Atlanta Business Chronicle pA1 "Coles buys into burger chain" by Lisa R. Schoolcraft says Michael J. Coles, founder of The great American Cookie Co. and former CEO of Caribou Coffee Co. has bought into Boardwalk Investment Group LLC, which owns the franchise rights to open 50 Boardwalk Fresh Burgers & Fries restaurants in Georgia. This concept is a step up from McDonald's and Burger KIng.

MRK $33.3 +0.40 1.22% 22,403,278 NYSE: No mentions found.

Microsoft MSFT $26.71 +0.75 2.89% 63,599,238 NASDAQ-GS: WSJ pB4 "Microsoft Recovers Data Lost From Sidekick Devices" by Roger Cheng says Microsoft has been able to recover the personal customer data lost from many of T-Mobile USA's Sidekick devices

Also reported at AJC pA14.

Fin Times p12 says there are expected improvements in 9 areas of Microsoft's new Windows 7 operating system which will be unveiled next week.

USA Today p1B "The difference is black and white - Unlike Vista, Microsoft's new Windows 7 gets things right" by Edward C. Baig gives a good reveiw of Microsoft's new Windows 7 operating system.

Inv. Bus. Daily pA4 "Microsoft Sees Cloud As Natural Evolution" by J. Bonasia says virtualization is part of changes that MSF is offering ussers. This type of software lets users create virtual servers on one machnies that lets tech managers increase the programs they can run and get mroe bank for the buck out of each server. The story interviews Bill Laing, MSFT VP, Winders server and solutions division.

Pfizer PFE $17.66 +0.29 1.67% 123,920,249 NYSE: AJC pA14 "Pfizer deal for Wyeth becomes offical" says 9 months after Pfizer announced an agreement to buy Wyeth for $68 bil, the deal closed Thurs., a day after the firms got final approval from the FTC and the Canadian Competition Bureau. The merger changes Pfizer, the world's biggest drug maker by rev., from a marketing machine with some popular pills facing patent expirations into a diversified health care giant.

Procter & Gamble PG $57.24 -0.07 0.12% 11,781,095 NYSE: Inv. Bus. Daily pA3 "William Procter Gambled on the Workers and Won" by Curt Schleier profiles the PG president who died in 1934 and was the third generation of the family that founded Procter & Gamble as a soap company.

MMM $76.77 +0.20 0.26% 3,693,608 NYSE: No mentions found.

TRV $48.55 -0.11 0.23% 4,765,797 NYSE: No mentions found.

UTX $64.4 +0.64 1% 5,668,697 NYSE: No mentions found.

Verizon VZ $29.11 +0.17 0.59% 15,972,628 NYSE: WSJ pB3 "Wireless Unit Won't Pay Licensing Fee for Ringtones" says a US judge has ruled that Verizon Communications Inc.'s wireless biz doesn't have to pay separate public performance licensing fees for ringtones in a suit by the American Society of Composers, Authors and Publishers (ASCAP).

WalMart WMT $50.95 +0.76 1.51% 21,660,987 NYSE: WSJ pA1 "Wal-mart Strafes Amazon In Book War" by Miguel Bustillo, Jeffrey A. Trachtenberg says WMT launched a price war against Amazon.com saying it would sell 10 hotly anticipated new books for only $10. Hours later Amazon matched the $10 price and then Walmart dropped the prices to $9.

This price war is also mentioned in a story by Jeffrey A. Trachtenberg, Michael M. Phillips at WSJ pB6 about how there are strong pre-orders for Sarah Palin's memoir.

WSJ pB1 in a story by Timothy W. Martin about Safeway Inc. being in a price war it is noted that Kroger is the nation's largest food retailer after Wal-Mart Stores Inc.

WSJ pB5 in a story by Cecilie Rohwedder about Swedish fashion retailer Hennes & Mauritz which operates the cheap and chic H&M chain being uder competitive pressure it says that the British unit of WalMart, Asda, recently became the UK's biggest clothing retailer.



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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
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