11/28/09 Wed am IBM to do $5 bil Stock Buy-Back; Sells Software Unit

WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM

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

Post #182 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 10/28/09 print editions of: Wall Street Journal, New York Times, The Financial Times, USA Today, 10/26/09 issue of Investment News, 11/2/09 issue Newsweek, Nov. issue of Inc. magazine,& Atlanta Journal Constitution & Fulton Daily Report 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 Tuesday's closing price and related data:

Dow: The Dow Jones Industrial Average closed Tuesday at 9882.17 up 14.21 or 0.14% from Monday's close of 9867.96. Of the 30 Dow Companies: 15 declined and 15 gained. The biggest gainer dollar-wise was Exxon XOM $74.91 +1.68 2.29% 29,969,520 NYSE and percentage-wise was American Express AXP $35.95 +1.07 3.07% 18,123,646 and the biggest decliner dollar-wise was 3M MMM $76 -0.82 1.07% 4,468,730 NYSE and percentage-wise was Alcoa AA $12.81 -0.47 3.54% 29,564,167 NYSE.

WSJ pC1 "Blue Chips Tread Water; Oil Edges Up" by Geofrey Rogow says gains in energy stocks offset declines in other sectors to leave major indexes little changed after 2 days. Exxon Mobil rose 2.3% and Chevron was up 1.5% as lil futures snapped a 3 day losing streaking, rising 1.1% to $79.55 a barrel. IBM finished 0.4% higher after announcing its board authorized $5 bil for stock buybacks.

WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55% after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

Fin Times p24 "Weak consumer confidence takes its toll on equities" by David Oakley says most US stocks closed lower Tues as losses ran into a third consecutive day as strong demand in a US treasury auction and weak consumer confidence numbers reignited fears about the economic recovery. The Dow was helped by IBM and Exxon Mobil as well as Chevron.

NYT pB9 "Cconsumers' Malaise Weights on Shares" by AP (same story is at USA Today p4B under headline "Stocks end mixed on consumer fears", but USA Today credits Tim Pardis of AP while NYT doesn't) says stocks mostly fell on Tues. as mixed reports on home prices and consumer confidence gave investors little incentive to step into the market. A decision by IBM to double its stock repuchase plan propped up the Dow Jones industrial average. The Conference Board said its consumer confidence index fell unexpectedly to 47.7 in Oct, its second lowest reading since May. Analysts rpedicted a figure of 53.1. Wories about consumers have been around for a while, but the confidence numbers took some of the sheen off corporate profit reports for 3Q which have been coming in ahead of expections.

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 16.23 up from Tuesday's 16.21 (year ago was nil), the P/E estimate is 16.03 unchanged (1 year ago it was 9.93 ), and the dividend yield is 2.83 unchanged (a year ago it was 3.59). Tuesday's Dow Jones Industrial Average closing numerator was 1307.60 up 1.88 from Monday's closing Dow numerator of 1305.72. 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 1.88 for Tuesday by the divisor you get the increase of 14.21 in Tuesday's Dow close. The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 43.59 up .07 from Monday's Dow Jones Industrial Average closing price of 43.52. The median closing price of Tuesday's Dow Jones Industrial Average was 39.93 up 0.58 from Monday's Dow Jones median closing price of 39.35.

The highest closing price Tuesday again was IBM $120.65 +0.54 0.45% 9,352,741 NYSE and the lowest closing price Tuesday again was Alcoa AA $12.81 -0.47 3.54% 29,564,167 NYSE. The lowest volume Tueday was United Technologies NYSE and the highest volume again was Bank of Am BAC $15.45 +0.05 0.32% 268,631,631 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 made $210.
($130,770 - $130,560)

AT&T T $25.6 +0.29 1.15% 30,120,397 NYSE: WSJ pB4 "Phone makers Scramble to Stand Out" by Niraj Sheth, Yukari Iwatani Kane says Motorola, Palm are pinning hopes on new models, while Taiwan's HTC is jumping into the ad fray. The market leader carriers haven't been idle. In the 3Q, AT&T activated over 3 million iPhones after Apple introduced a faster version and dropped the price on the older model to $99. Verizon, in addition to adding Motorola's Droid to its device lineup, said it will start selling the touch screen Blackberry Storm 2 in stores Wed. for $179.99.

Alcoa AA $12.81 -0.47 3.54% 29,564,167 NYSE: WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

American Express AXP $35.95 +1.07 3.07% 18,123,646 NYSE: WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

Bank of America BAC $15.45 +0.05 0.32% 268,631,631 NYSE: WSJ pC3 "Bank of America Bumps Into Hurdles in CEO Hut" by Dan Fitzpatrick, Joann S. Lublin says outsiders either aren't interested or lack sought-after skills as BofA's search for a new CEO has slowed. A board committee at the Charlotte, NC bank had hopes to pick a successor to retiring CEO Kenneth D. Lewis in time for the fall board to vote on the choice at its regularly scheduled meeting Wed but they need more time.

Investment News p40 "Infrastructure fundraising hits a wall" by Arleen Jacobus says 3 int'l banks halted their money managers from fundraising efforts in this area due to a drop to $4bil raised in the first 9 months of the year, down 80% from same period a year earlier. The 3 are Banco Santander, Deutsche Bank and ING. Merrill Lynch also shuttered its infrastructure biz and stopped fundraising before its acquisition by BofA which closed Jan. 1, 2009.

WSJ pC1 "Pay Czar Increased Salaries At Companies" by David Enrich, Deborah Solomon says Treasury Dept. pay czar Ken Feinberg announced sharp cuts in total comp at the finance and auto companies under his control. But while he cut total comp by half, he increased one important element, regular salaries in the 7 firms that accepted bailout packages that include Bank of America.

Also reported at Fin Tims by Tom Braithwaite who says Feinberg is focusing ont the pay of 525 second tier execs whose salaries are the ones icnreased.

WSJ pC5 "UBS Hires McCann To Fix Brokerage Unit" by Katharina Bart, Annie Gasparro says UBS replaced the head of its US brokerage with former Merrill Lynch exec Robert McCann who pledged to return the unit to profitability and denied speculation that the parent planned to unload it. He succeeeeds Marten Hoekstra and will oversee nearly 8,000 advisers compared with 15,000 at Bank of America following its purchase of Merrill in Jan. Separately, JP Morgan Chase CEO james Dimon said he want to increase the size of the retail brokerage inherited from Bear Stearns to about 1,000 brokers over time from the current 350.

Also reported at Fin Times p15 by Haig Simonian, Greg Farrell.

WSJ pC9 in an article about Blackstone trying to cut Hilton debt says its acquisition of Hilton was financed by a group of 7 banks including BofA and GECC.

WSJ pC12 "BofA and Wynn Resorts Draw Mixed Reactions" by Brendan Conway says Options traders opened some new bearish positions in Bank of America amid worries that regulators may push the bank to raise more capital, but they also appered to leave room for the stock to go higher before mid-Nov. Traders in BofA picked up more than twice as many calls, as they did puts.

Boeing BA $47.75 -0.54 1.12% 7,022,435 NYSE: Newsweek p14 "Boeing's Turbulence" by Matthew Philips says after 6 delays and nearly a decade of anticipation, BA's 787 Dreamliner will finally make its first flight by the end of the year and that deliveries of the next generation airliner will begin in late 2010. However, it says Wall Street is doubting whether Boeing will deliver on time and Morgan Stanely analyst Heidi Wood doesn't think Boeing will start delivering any of the 840 planes on order until 2011.

USA Today p3B "Untied retires its last 737" by Ben Mutzabaugh says it's end of an era as United focuses on fuel efficiency. It says the number of Boeing 737s currently flown by large US carriers are 96 by American, 244 by Cont'l, 80 by Delta, 546 by Southwest, and 66 by US airways. United has 152 A319/320's, 25 747s, 95 757s, 35 767s, and 52 777s.

Caterpillar CAT $56.69 -0.38 0.67% 10,501,550 NYSE: No mentions found.

Chevron CVX $76.59 +1.14 1.51% 9,397,382 NYSE: WSJ pC1 "Blue Chips Tread Water; Oil Edges Up" by Geofrey Rogow says gains in energy stocks offset declines in other sectors to leave major indexes little changed after 2 days. Exxon Mobil rose 2.3% and Chevron was up 1.5% as oil futures snapped a 3 day losing streaking, rising 1.1% to $79.55 a barrel. IBM finished 0.4% higher after announcing its board authorized $5 bil for stock buybacks.

WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

Cisco CSCO $23.54 -0.16 0.68% 42,358,882 NASDAQ-GS: No mentions found.

Coca-Cola KO $53.46 +0.23 0.43% 7,198,350 NYSE: AJC pA1 says KO is going to spend $100 mil to expand an Atlanta plant in order to make syrup for its new "Freestyle" fountains.

Disney DIS $28.17 -0.48 1.68% 11,088,565 NYSE: Inc. Mag. p95 "Stan Lee Marvel Comics" as told to Mark Lacter has Lee talking about Disney's proposed $4bil acquisition of Marvel for which he serves as honorary chairman and how he has had a long standing deal with Disney that they have a first look at any of his new creations.

WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

DuPont DD $32.68 +0.26 0.8% 10,147,841 NYSE: No mentions found.

Exxon Mobil XOM $74.91 +1.68 2.29% 29,969,520 NYSE: WSJ pC1 "Blue Chips Tread Water; Oil Edges Up" by Geofrey Rogow says gains in energy stocks offset declines in other sectors to leave major indexes little changed after 2 days. Exxon Mobil rose 2.3% and Chevron was up 1.5% as lil futures snapped a 3 day losing streaking, rising 1.1% to $79.55 a barrel. IBM finished 0.4% higher after announcing its board authorized $5 bil for stock buybacks.

WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

GE $14.93 -0.08 0.53% 86,692,024 NYSE: WSJ pC9 in an article about Blackstone tryint to cut Hilton debt says its acquisition of Hilton was financed by a group of 7 banks including BofA and GECC.

Hewlett-Packard HPQ $47.3 -0.56 1.17% 9,927,790 NYSE: WSJ pD3 has a review of some netbooks by Walter S. Mossberg who says with the Microsoft launch of its new Window 7 operating system a bunch of desktop, laptops and netbooks are hitting the market. He says the new HP's Mini 311 has a comfortable keyboard.

WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says stocks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

Home Depot HD $26 0.10 -0.38% 15,944,847 NYSE: AJC pA9 has an item that a Home Depot store in Georgia fired an employee for wearing a religious button.

Intel INTC $19.74 -0.09 0.45% 67,623,894 NASDAQ-GS: Related story at WSJ pB4 "FTC's Chief Economist Says Tech Competition Is a Focus" by John D. McKinnon says the FTC has for more than 3 years been looking into Intel's marketing practices int he computer chip biz. Joseph Farrell , director of the FTC's economics bureau said maintaining competition in the tech sector is vital to assuring economic innovation.

Investment News p60 "Whistle-blower: Galleon case shows SEC is stepping scrutiny" by Dan Jamieson says that the use of wiretaps to track Rajaratnam and Intel and IBM execs in the insider trading scandal shows the SEC is taking insider trading more seriously.

WSJ pA1 "Ex-Chief of AMD Is Linked To Galleon" by Robert A. Guth, Don Clark says one fo the tech indsutry's highest profile execs has become ensnared in the insider trading case that has ensnared execs from IBM and Intel. The AMD exec is Hector Ruiz who the feds are alleging shared inside info with a defendant in the case but Ruiz hasn't been charged with anything.

In related story Daily Report p6 by David Glovin, Cary O'Reilly, Thom Weidlic says John Dowd, who has represented John McCain and investigated Pete Rose is taking Raj Rajaratnam's insider trading case in a story entitled" D.C. insider goes to bat for embattered investor."

NYT pA8 "Microchips and Monoplies" has an editorial saying the FTC is going to file an antitrust complaint against Intel for abusing its dominant position in the microchip market to shut out a smaller rival Advanced Micro Devices. Since '05, antitrust authorities from Japan, S. Korea and Europe have taken action agaisnt Intel for anticompetitive behavior. 4 our of 5 PCs in the world run on Intel's microchips.

IBM $120.65 +0.54 0.45% 9,352,741 NYSE: WSJ pB3 "IBM Sells Softwre Unit to Dasssault Systemes(not a typo) for $600 Mil" by William M. Bukleley says Dassault Systemes SA agreed to pay $600 mil to an IBM unit that sells Dassault software. Dassault makes software for computer aided design and product managements. The sale removes one of the last vestiges of IBM's once vast applications software business. The 2 firms will retain a formal alliance in which the French firm will recommend IBM servers and infrastructure software. IBM helped start CAD with a program used to design autos and airliners called Cadam but it sold it to Dassault in '92 but retained a 700 person sales organization that exclusively sold Dassault products. IBM also announced buying another $5 bil of its stock and it currently has $4.2 bil remaining from previous repuchase programs.

Fin Times p14 "IBM plans to boost buy-backs by $5 bil" by Richard Waters says the move reflects return to confidence and shift away from crisis time caution.

WSJ pC1 "Blue Chips Tread Water; Oil Edges Up" by Geofrey Rogow says gains in energy stocks offset declines in other sectors to leave major indexes little changed after 2 days. Exxon Mobil rose 2.3% and Chevron was up 1.5% as lil futures snapped a 3 day losing streaking, rising 1.1% to $79.55 a barrel. IBM finished 0.4% higher after announcing its board authorized $5 bil for stock buybacks.

Investment News p60 "Whistle-blower: Galleon case shows SEC is stepping scrutiny" by Dan Jamieson says that the use of wiretaps to track Rajaratnam and Intel and IBM execs in the insider trading scandal shows the SEC is taking insider trading more seriously.

WSJ pA1 "Ex-Chief of AMD Is Linked To Galleon" by Robert A. Guth, Don Clark says one fo the tech indsutry's highest profile execs has become ensnared in the insider trading case that has ensnared execs from IBM and Intel. The AMD exec is Hector Ruiz who the feds are alleging shared inside info with a defendant in the case but Ruiz hasn't been charged with anything.

In related story Daily Report p6 by David Glovin, Cary O'Reilly, Thom Weidlic says John Dowd, who has represented John McCain and investigated Pete Rose is taking Raj Rajaratnam's insider trading case in a story entitled" D.C. insider goes to bat for embattered investor."

WSJ pC12 "Disney and H-P Fall, As IBM, AmEx Gain" by Donna Kardos Yesalavich says sotcks languished with Walt Disney and Hewlett-Packard among the decliners, after a robust Treasury auction showed a healthy appetite for safer investments. Still, the Dow Jones Industrial Average maanged to close slightly higher on gains in IBM and its energy compnonets. IBM which is the priciest stock in the price weighted measure gained 0.55 after it announced plans to bu back $5 bil of stock. American Express had the biggest gain in the measure, closing up 3.1%. Energy components Exxon Mobil and Chevron added to the index's gains after U.K. oil major BP's latest quarterly earnings toped Wall Street expectations. The Dow's Tues. gains were held in check by a slide in Alcoa of 3.5%.

J.P. Morgan Chase JPM $43.9 +0.08 0.18% 37,654,179 NYSE: WSJ pC5 "UBS Hires McCann To Fix Brokerage Unit" by Katharina Bart, Annie Gasparro says UBS replaced the head of its US brokerage with former Merrill Lynch exec Robert McCann who pledged to return the unit to profitability and denied speculation that the parent planned to unload it. He succeeeeds Marten Hoekstra and will over see nearly 8,000 advisers compared with 15,000 at Bank of America following its pruchase of Merrill in Jan. Separately, JP Morgan Chase CEO james Dimon said he want to increase the size of the retail brokerage inherited from Bear Stearns to about 1,000 brokers over time from the current 350.

FT p4 "JPMorgan's Dimon backs mechanism to close banks" by Henny Sender says Jamie Dimon endorsed a resolution mechanism that would protect the financial system when systemically important financial groups fail. He said debt, not just equity, should be wiped out. Congress is weighing regulatory reforms to solve the too big to fail problem with many regulators favoring a so called resolution mechanism that ouwld allow regulators to close down banks in an orderly fashion.

Related story at NYT pB1 "Bill Would Shift Rescue Of Banks" by Stephen Labaton that says the legislation was drafted by Treasury officials and Rep. Barney Frank, the head of the House Financial Services Committee and would create a special fund, paid by assessments on financial companies with more than $10 bil in assets.

Johnson & Johnson JNJ $60.02 -0.07 0.12% 10,135,110 NYSE: No mentions found.

Kraft KFT $26.73 +0.03 0.11% 8,945,897 NYSE: USA Today, How many ingredients are in this scoop? by Bruce Horovitzsays Kraft is embracing a simple trend as the nation's largest processed food maker but making its package designs more simple.

McDonald's MCD $59.02 -0.18 0.3% 8,262,258 NYSE: WSJ pB5A "McDonald's Gains Share" by Paul Ziobro says McDonald's Crop. says it is gaining a bigger slice of a shrinking pie of fast-food dollars, and will rely less on raising prices to increase sales. MCD's new premium items like McCafe coffee and Angus burgers are exceeding expectations, complementing the chain's existing value-menu to help sales as the economy remains weak.

Merck MRK $32.43 +0.41 1.28% 18,607,760 NYSE: No mentions found.

Microsoft MSFT $28.59 -0.09 0.31% 68,123,812 NASDAQ-GS: WSJ pD3 has a review of some netbooks by Walter S. Mossberg who says with the Microsoft launch of its new Window 7 operating system a bunch of desktop, laptops and netbooks are hitting the market. He says the new HP's Mini 311 has a comfortable keyboard.

Pfizer PFE $17.26 +0.14 0.82% 57,804,177 NYSE: No mentions found.

3M MMM $76 -0.82 1.07% 4,468,730 NYSE: No mentions found.

Travelers TRV $51.07 -0.17 0.33% 6,024,516 NYSE: No mentions found.

United Technologies UTX $64.09 -0.74 1.14% 5,537,784 NYSE: No mentions found.

Verizon VZ $29.2 +0.56 1.96% 22,867,127 NYSE: No mentions found.

Wal-Mart WMT $49.87 +0.03 0.06% 15,421,712 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 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
###########################################
The following is a template for Friday's Blog:
WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM

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

Post #186 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 10/28/09 and an update of the Dow 30's most recent SEC filings as of 10/12/09.

A read of Friday's 10/29/09 print editions of: Wall Street Journal, New York 9Times, The Financial Times, Investors Business Daily, USA Today, Atlanta Journal Constitution, Fulton Daily Report & 10/30/09 - 11/5/09 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 Wednesday's closing price and related data:

Dow: The Dow Jones Industrial Average closed Thursday at 9962.58 up 199.89 or 2.05% from Wednesday's close of 9762.99. Of the 30 Dow Companies: 1 declined (Merck) and 29 gained. The biggest gainer dollar-wise was Caterpillar CAT $57.25 2.82 5.18% 9,805,322 NYSE and percentage-wise was Alcoa 13 +1.07 8.97% 43,903,149 NYSE and the biggest decliner dollar-wise and percentage-wise was the only decliner Merck MRK $31.31 -0.74 2.31% 39,823,568 NYSE.


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 Friday the Dow's trailing P/E ratio is from Thursday's 16.04 (year ago was nil), the P/E estimate is 16.03 unchanged (1 year ago it was 9.), and the dividend yield is 2. from Wednesday's 2.87 (a year ago it was 3.).

Thursday's Dow Jones Industrial Average closing numerator was 1318.24 up 26.41 from Wednesday's closing Dow numerator of 1291.83. 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 26.41 for Thursday by the divisor you get the increase of 199.89 in Thursday's Dow close.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was $43.94 up 0.88 from Wednesday's Dow Jones Industrial Average closing price of 43.06. The median closing price of Thursday's Dow Jones Industrial Average was $40.40 up $3.72 from Wednesday's Dow Jones median closing price of $36.68.

The highest closing price Thursday again was IBM $122.87 +1.37 1.13% 6,070,817 NYSE and the lowest closing price Thursday again was Alcoa AA $13 +1.07 8.97% 43,903,149 NYSE. The lowest volume Thursday was 3M MMM $75.48 +1.02 1.37% 4,055,360NYSE and the highest volume again was Bank of Am BAC $15.73 +0.72 4.8% 197,185,290 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 $2,640.
($131,820 - $129,180)

AT&T T $26.23 +0.15 0.58% 30,958,371 NYSE:

Alcoa AA $13 +1.07 8.97% 43,903,149 NYSE:

American Express AXP $36.44 +1.77 5.11% 12,868,190 NYSE:

Bank of America BAC $15.73 +0.72 4.8% 197,185,290 NYSE:

Boeing BA $48.81 +1.59 3.37% 8,147,000 NYSE:

Caterpillar CAT $57.25 +2.82 5.18% 9,805,322 NYSE:

Chevron CVX $77.95 +2.06 2.71% 14,424,704 NYSE:

Cisco CSCO $23.52 +0.50 2.17% 38,760,517 NASDAQ-GS:

Coca-Cola KO $54.09 +0.58 1.08% 7,043,990 NYSE:

Disney DIS $28.14 +0.90 3.3% 12,850,291 NYSE:

DuPont DD $32.97 +0.88 2.74% 7,259,559 NYSE:

ExxonMobil XOM $73.96 +0.12 0.16% 29,145,393 NYSE:

GE $14.87 +0.45 3.12% 82,217,527 NYSE:

Hewlett-Packard HPQ $48.35 +1.42 3.03% 15,036,660 NYSE:

Home Depot HD $25.91 +0.70 2.78% 12,692,730 NYSE:

Intel INTC $19.22 +0.19 1% 75,637,073 NASDAQ-GS:

IBM $122.87 +1.37 1.13% 6,070,817 NYSE:

J.P. Morgan JPM $44.35 +1.67 3.91% 33,688,237 NYSE:

Johnson & Johnson JNJ $59.86 +0.29 0.49% 13,579,298 NYSE:

Kraft KFT $27.55 +0.60 2.23% 12,921,184 NYSE:

McDonald's MCD $59.14 +0.50 0.85% 6,729,928 NYSE:

Merck MRK $31.31 -0.74 2.31% 39,823,568 NYSE:

Microsoft MSFT $28.22 +0.20 0.71% 63,495,657 NASDAQ-GS:

Pfizer PFE $17.55 +0.34 1.98% 56,066,694 NYSE:

Procter & Gamble PG $59.54 +2.31 4.04% 25,755,288 NYSE:

3M MMM $75.48 +1.02 1.37% 4,055,360 NYSE:

Travelers TRV $51.91 +1.41 2.79% 5,096,145 NYSE:

United Technologies UTX $63.58 +0.97 1.55% 4,813,883 NYSE:

Verizon VZ $30.04 +0.09 0.3% 21,458,775 NYSE:

Wal-Mart WMT $50.4 +0.50 1% 13,985,431 NYSE: