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Post #237 The following is brought to you by Intellivest Securities Research, Inc. 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 11/30/09 and an update of the Dow 30's most recent SEC filings as of 11/30/09.
The Dow Jones Industrial Average closed Monday at 10,344.84 up 34.92 or 0.34% from Friday's close of 10,309.92. Of the 30 Dow Companies: 16 gained and 14 declined. The biggest decliner dollar-wise was McDonald's MCD $63.25 -0.35 0.55% 6,365,466 NYSE and percentage-wise was Alcoa AA $12.52 -0.14 1.11% 24,211,974 NYSE. The biggest gainer dollar-wise and percentage-wise was J.P.Morgan Chase JPM $42.49 +1.16 2.81% 36,931,348 NYSE.
As of the open of the market today, the current divisor for the Dow found at page C4 of Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Monday's Dow Jones Industrial Average closing numerator was 1368.82 up 4.62 from Friday's closing Dow numerator of 1364.20. 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 4.62 for Monday by the divisor you get the increase in Monday's Dow close of 34.92.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 45.63 up 0.16 from Friday's Dow Jones Industrial Average closing price of $45.47. The median closing price of Monday's Dow Jones Industrial Average was $42.16. The lowest volume Monday was again 3M MMM $77.44 +0.69 0.9% 3,815,520 NYSE and the highest volume again was Bank of Am BAC $15.85 +0.38 2.46% 126,803,835 NYSE.
If Monday morning before the market opened you had purchased 100 shares 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 $480 ($136,890 - $136,410).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $26.94 -0.05 0.19% 31,161,213 NYSE
Alcoa AA $12.52 -0.14 1.11% 24,211,974 NYSE
American Express AXP $41.83 +0.99 2.42% 13,786,562 NYSE
Bank of America BAC $15.85 +0.38 2.46% 126,803,835 NYSE
Caterpillar CAT $58.39 +0.94 1.64% 9,510,410 NYSE
Chevron CVX $78.04 -0.13 0.17% 9,101,949 NYSE
Cisco CSCO $23.4 +0.02 0.09% 33,595,107 NASDAQ-GS
Coca-Cola KO $57.2 +0.02 0.03% 9,229,809 NYSE
Disney DIS $30.22 -0.13 0.43% 10,180,007 NYSE
DuPont DD $34.58 +0.18 0.52% 5,046,173 NYSE
ExxonMobil XOM $75.07 +0.20 0.27% 21,000,633 NYSE
GE $16.02 +0.08 0.5% 68,841,835 NYSE
Hewlett-Packard HPQ $49.06 -0.01 0.02% 16,115,396 NYSE
Home Depot HD $27.36 -0.25 0.91% 16,574,079 NYSE
Intel INTC $19.2 +0.09 0.47% 47,517,961 NASDAQ-GS
IBM $126.35 +0.65 0.52% 6,133,529 NYSE
J.P.Morgan Chase JPM $42.49 +1.16 2.81% 36,931,348 NYSE
Johnson & Johnson JNJ $62.84 -0.05 0.08% 10,578,847 NYSE
Kraft KFT $26.58 -0.06 0.23% 7,443,534 NYSE
McDonald's MCD $63.25 -0.35 0.55% 6,365,466 NYSE
Merck MRK $36.21 -0.08 0.22% 17,946,368 NYSE
Microsoft MSFT $29.41 +0.19 0.65% 42,872,571 NASDAQ-GS
Pfizer PFE $18.17 +0.08 0.44% 58,517,173 NYSE
Procter & Gamble PG $62.35 -0.13 0.21% 12,047,855 NYSE
3M MMM $77.44 +0.69 0.9% 3,815,520 NYSE
Travelers TRV $52.39 +0.74 1.43% 4,878,864 NYSE
United Technologies UTX $67.24 +0.04 0.06% 4,259,720 NYSE
Verizon VZ $31.46 -0.17 0.54% 19,400,643 NYSE
WalMart WMT $54.55 -0.08 0.15% 11,805,466 NYSE
The following appeared in Monday morning's Blog:
A read of Monday's 11/30/09 print editions of: Wall St. Journal, Financial Times, New York Times, Investor's Business Daily, USA Today, Atlanta Journal Constitution, & Daily Report (Ga) 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 Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down .08 from last Friday's Dow close of 10,318.16. For the 52 week period the Dow is up 16.77. Year to date the market is up 17.47Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
Sat's WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Sat's Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE: No mentions found.
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: No mentions found.
American Express AXP $40.84 -0.88 2.11% 6,004,141 NYSE: No mentions found.
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE: WSJ pB3 "FAA Rejects Boeing 777 Engine-Ice Warnings" by Andy Pasztor says the FA has rejected safety warnings from crash investigators and pilots and have decided to allow more than 130 Boeing 777 jetliners to continue flying long distance int'l trips through early 2011 with suspect parts that have caused engines in extremely rare instances to ice up and shut down in midair. This move caps months of debate in the int'l aviation community about the potential hazards of ice plugging up certain parts and restricting fuel flow to Rolls-Royce PC engines.
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: No mentions found.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE: No mentions found.
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE: Daily Report p6 "Three stocks show growth at reasonable price" by John Dorfman says there are threw GARP stocks he likes - GARP means "growth at a reasonable price." The 3 are Walt Disney Co, Union Pacific and Stryker Ckorp. Disney sells for between 15 times and 20times earnings and currently is at a multiple of 16. Investors have had a variety of complaints about Disney in the past 6 years. Management of the Burbank, Ca. firm suffered from infighting. The purchase of the ABC tv network was considered a flop by some as network tv lsot market share to cable. People worried that high gas prices and the recession would keep people away from thier parks. Since Robert Iger took over in '05, Disney hasn't earned less than $1.64 per year and it made it through the Great Recession of '08 - '09 without bleeding red ink. Even though ABC has been a disappointment, Dis's media oeprations includes an 80% stake in ESPN, 50% stake in ABC Family channel, Lifetime Entertainment and 10 tv stations. The media biz is Disney's largest source of rev. People came to their parks which caused rev from the parks to grow 7 to 8% annually. Dis stock was at a high at $43 a share in April 2000. Today, shares trade at just under $30 but the firm is bigger and better. For the fiscal year ended in Oct., Dis earned $3.3 bil on rev of $36 bil.
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE: No mentions found.
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: No mentions found.
GE $15.94 -0.24 1.48% 60,916,051 NYSE: No mentions found.
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE: No mentions found.
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE:
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
IBM $125.7 -1.58 1.24% 3,319,189 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE: No mentions found.
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE: No mentions found.
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE: No mentions found.
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS: No mentions found.
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE: No mentions found.
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE: No mentions found.
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE: No mentions found.
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE: No mentions found.
Verizon VZ $31.63 -0.40 1.25% 8,551,812 NYSE: No mentions found.
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: Inv. Bus. Daily pB11 "For McCormick, Much At Stake With Wal-Mart" by Patrick Cains says McCormick, the multibillion dollar spice firm just increased its dividend by 8% last week giving it a yield of 2.6%. McCormick is a 110 year old company that sell herbs and spices in grocery stores across the US. Wal-Mart shold determine McCormick's future as some of their stores are testing a private label line of spices in locations where there are no duplicate McCormick spices. That's a threat to McCormick because Wal-Mart is a major customer.
Inv. Bus. Daily pA4 "Wal-Mart, Amazon Battling For More Electronics Sales" by Patrick Seitz says consumer electronics deals are bring out the crowds for holiday retail sales. But a bruising price war between online retailer Amazon.com and Wal-Mart could drag down profitability across the sector. Amazon has been slashing prices on a host of electronics, including TVs and GPS devices and WalMart has followed with its own price cuts. This price war started in the fall with books and DVDs and it spread to toys and electronics. WalMart is trying to drive traffic into its stores using low priced electronics as bait. WalMart is the top destination for video game consoles.
WSJ pC10 "Overheard" says retailers are upset about losing electronin sales to Wal-Mart and Best Buy.
WSJ pB2 "Closing of Quebec WalMart Upheld" says the Supreme Ct. of Canada said that WalMart was entitled to close a store in Quebec in '05, 7 months after workers voted to become the first WalMart store in N. America to unionize.
***************************************
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
11/30/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $360 [5]
2. Microsoft MSFT 260 [9]
3. WalMart WMT 211 [4]
4. Chevron CVX 191 [2.5]
5. Procter & Gamble PG 183 [3]
6. Johnson & Johnson JNJ 174 [3]
7. GE 170 [10.5]
8. IBM 165 [1.5]
9. JPMorgan Chase 163 [4]
10. AT&T 159 [6]
11. Pfizer PFE 147 [8]
12. Cisco CSCO 134 [6]
13. BAC 134 [6.5]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 116 [2]
16. Intel INTC 107 [5.5]
17. McDonald's MCD 106 [1]
18. Verizon VZ 90 [3]
19. Merck MRK 77 [2]
20. United Technologies UTX 63 [1]
21. Disney DIS 56 [2]
22. 3M MMM 54 [.5]
23. American Express AXP 49 [1]
24. Home Depot 47 [2]
25. Kraft KFT 39 [1.5]
26. Boeing BA 38 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 31 [1]
29. Travelers 28 [.5]
30. Alcoa AA 12 [1]
Here are the latest SEC filings as of 11/30/09 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: 11/6/09 8K re:the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
Alcoa AA: 11/20/09 8K re: that it will temporarily idle production at its two aluminum smelters in Fusina and Portovesme, Italy while appealing a European Commission decision that Italy’s extension of the existing electricity tariff after 2005 did not comply with European Union state aid rules and that a portion of the benefit received by Alcoa must be refunded. The curtailments in Italy will bring Alcoa’s total global smelting system curtailments to approximately 24 percent. Alcoa expects to take a 4Q '09 charge of between $300 million and $500 million, pre-tax, including the temporary curtailment and recovery actions.
American Express AXP: 11/18/09 8K re: acquisition of Revolution Money, a Revolution LLC company which was launched by AOL Co-founder Steve Case's Revolution LLC in '07 & provides secure payments through an internet based platform. No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. Their online person-to-person payment accounts are FDIC insured and suited for social and instant messaging networks.
Bank of Am BAC: 11/27/09 8K re: the Board approved amendments to the 2009 compensation arrangements for Joe L. Price, Chief Financial Officer, & Barbara J. Desoer, President, Bank of America Mortgage, Home Equity and Insurance Services.
Boeing BA: 11/20/09 8K re: Boeing issued $700,000,000 of 1.875% Senior Notes due 2012 and $500,000,000 of 3.750% Senior Notes due 2016.
Caterpiller CAT: 11/19/09 8K disclosing supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2001 and set to expire in February 2010 and sell the acquired shares of Cisco stock for up to 80,000 shares of Cisco stock.
Coke KO: 10/29/09 10QA
Disney DIS: 11/13/09 8K re: effective January 1, 2010, Thomas O. Staggs, currently Sr. Exec. VP & CFO, will become Chairman, Walt Disney Parks & Resorts, & James A. Rasulo, currently Chairman, Walt Disney Parks & Resorts, will become Sr. Exec. VP & CFO.
11/19/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due 1/15 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
Hewlett-Packard HPQ: 11/23/09 8K re: financial results for its 4Q ended 10/31/09, with net rev of $30.8 billion, down 8% from a year earlier.
Home Depot HD: 11/17/09 8K re: 3Q of fiscal 2009 net earnings of $689 million, or $0.41 per diluted share, compared with net earnings of $756 million, or $0.45 per diluted share, in the same period in fiscal 2008.
Intel INTC: 11/16/09 8K re: board of directors approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/20/09 re: Cazenove Group Limited (Cazenove) and J.P. Morgan have agreed a transaction under which their joint venture, J.P. Morgan Cazenove, will become a wholly owned part of J.P. Morgan.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/9/09 8K re: pursuant to Rule 2.5 of the U.K. City Code on Takeovers and Mergers Kraft disclosed its intention to make an offer to acquire each outstanding ordinary share of Cadbury plc.
11/9/09 8K re: an acquisition and refinancing bridge credit agreement for a 364-day senior unsecured term loan facility with the lenders led by Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Citibank, N.A. and Deutsche Bank AG Cayman Islands Branch, as co-administrative agents for loans up to £5.5 billion with a maturity date of 364 days.
McDonalds MCD: 11/12/09 8K re: CEO Jim Skinner outlined MCD’s priorities to continue to drive growth in sales, market share and returns through a strategic focus on its customers and restaurants under the successful Plan to Win. This includes plans to open about 1,000 new restaurants and reimage 2,300 existing locations worldwide in 2010.
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 11/24/09 8K re: Chris Liddell's departure as CFO to be replaced by Peter Klein.
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 11/24/09 8K re: an amendment to its VIP Excess Plan that offers eligible highly compensated employees with the opportunity to defer the receipt of a portion of their current cash compensation on a tax-favored basis.
Travelers TRV: 11/10/09 8K re: the resignation of Robert I. Lipp from the Board.
United Technologies UTX: 11/17/09 8K re: its purchase of the GE Security business from GE for $1.82 billion. The closing is pending regulatory approvals. GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 11/12/09 8K re: diluted earnings per share from continuing operations for 3Q of fiscal year 2010 of $0.84, exceeding WMT’s guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year.
Monday, November 30, 2009
11/30/09 Mon. am FAA Rules in Favor of Boeing 777 Engine Ice Issue
Contact us for our free Report on BioClinica, Inc.
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 #236 The following is brought to you by Intellivest Securities Research, Inc. 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 11/30/09 and an update of the Dow 30's most recent SEC filings as of 11/30/09.
A read of Monday's 11/30/09 print editions of: Wall St. Journal, Financial Times, New York Times, Investor's Business Daily, USA Today, Atlanta Journal Constitution, & Daily Report (Ga) 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 Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down .08 from last Friday's Dow close of 10,318.16. For the 52 week period the Dow is up 16.77. Year to date the market is up 17.47Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
Sat's WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Sat's Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
As of the open of the market today, the current divisor for the Dow found at page C4 of Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE: No mentions found.
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: No mentions found.
American Express AXP $40.84 -0.88 2.11% 6,004,141 NYSE: No mentions found.
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE: WSJ pB3 "FAA Rejects Boeing 777 Engine-Ice Warnings" by Andy Pasztor says the FA has rejected safety warnings from crash investigators and pilots and have decided to allow more than 130 Boeing 777 jetliners to continue flying long distance int'l trips through early 2011 with suspect parts that have caused engines in extremely rare instances to ice up and shut down in midair. This move caps months of debate in the int'l aviation community about the potential hazards of ice plugging up certain parts and restricting fuel flow to Rolls-Royce PC engines.
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: No mentions found.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE: No mentions found.
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE: Daily Report p6 "Three stocks show growth at reasonable price" by John Dorfman says there are threw GARP stocks he likes - GARP means "growth at a reasonable price." The 3 are Walt Disney Co, Union Pacific and Stryker Ckorp. Disney sells for between 15 times and 20times earnings and currently is at a multiple of 16. Investors have had a variety of complaints about Disney in the past 6 years. Management of the Burbank, Ca. firm suffered from infighting. The purchase of the ABC tv network was considered a flop by some as network tv lsot market share to cable. People worried that high gas prices and the recession would keep people away from thier parks. Since Robert Iger took over in '05, Disney hasn't earned less than $1.64 per year and it made it through the Great Recession of '08 - '09 without bleeding red ink. Even though ABC has been a disappointment, Dis's media oeprations includes an 80% stake in ESPN, 50% stake in ABC Family channel, Lifetime Entertainment and 10 tv stations. The media biz is Disney's largest source of rev. People came to their parks which caused rev from the parks to grow 7 to 8% annually. Dis stock was at a high at $43 a share in April 2000. Today, shares trade at just under $30 but the firm is bigger and better. For the fiscal year ended in Oct., Dis earned $3.3 bil on rev of $36 bil.
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE: No mentions found.
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: No mentions found.
GE $15.94 -0.24 1.48% 60,916,051 NYSE: No mentions found.
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE: No mentions found.
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE:
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
IBM $125.7 -1.58 1.24% 3,319,189 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE: No mentions found.
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE: No mentions found.
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE: No mentions found.
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS: No mentions found.
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE: No mentions found.
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE: No mentions found.
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE: No mentions found.
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE: No mentions found.
Verizon VZ $31.63 -0.40 1.25% 8,551,812 NYSE: No mentions found.
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: Inv. Bus. Daily pB11 "For McCormick, Much At Stake With Wal-Mart" by Patrick Cains says McCormick, the multibillion dollar spice firm just increased its dividend by 8% last week giving it a yield of 2.6%. McCormick is a 110 year old company that sell herbs and spices in grocery stores across the US. Wal-Mart shold determine McCormick's future as some of their stores are testing a private label line of spices in locations where there are no duplicate McCormick spices. That's a threat to McCormick because Wal-Mart is a major customer.
Inv. Bus. Daily pA4 "Wal-Mart, Amazon Battling For More Electronics Sales" by Patrick Seitz says consumer electronics deals are bring out the crowds for holiday retail sales. But a bruising price war between online retailer Amazon.com and Wal-Mart could drag down profitability across the sector. Amazon has been slashing prices on a host of electronics, including TVs and GPS devices and WalMart has followed with its own price cuts. This price war started in the fall with books and DVDs and it spread to toys and electronics. WalMart is trying to drive traffic into its stores using low priced electronics as bait. WalMart is the top destination for video game consoles.
WSJ pC10 "Overheard" says retailers are upset about losing electronin sales to Wal-Mart and Best Buy.
WSJ pB2 "Closing of Quebec WalMart Upheld" says the Supreme Ct. of Canada said that WalMart was entitled to close a store in Quebec in '05, 7 months after workers voted to become the first WalMart store in N. America to unionize.
***************************************
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
11/30/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $360 [5]
2. Microsoft MSFT 260 [9]
3. WalMart WMT 211 [4]
4. Chevron CVX 191 [2.5]
5. Procter & Gamble PG 183 [3]
6. Johnson & Johnson JNJ 174 [3]
7. GE 170 [10.5]
8. IBM 165 [1.5]
9. JPMorgan Chase 163 [4]
10. AT&T 159 [6]
11. Pfizer PFE 147 [8]
12. Cisco CSCO 134 [6]
13. BAC 134 [6.5]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 116 [2]
16. Intel INTC 107 [5.5]
17. McDonald's MCD 106 [1]
18. Verizon VZ 90 [3]
19. Merck MRK 77 [2]
20. United Technologies UTX 63 [1]
21. Disney DIS 56 [2]
22. 3M MMM 54 [.5]
23. American Express AXP 49 [1]
24. Home Depot 47 [2]
25. Kraft KFT 39 [1.5]
26. Boeing BA 38 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 31 [1]
29. Travelers 28 [.5]
30. Alcoa AA 12 [1]
Here are the latest SEC filings as of 11/30/09 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: 11/6/09 8K re:the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
Alcoa AA: 11/20/09 8K re: that it will temporarily idle production at its two aluminum smelters in Fusina and Portovesme, Italy while appealing a European Commission decision that Italy’s extension of the existing electricity tariff after 2005 did not comply with European Union state aid rules and that a portion of the benefit received by Alcoa must be refunded. The curtailments in Italy will bring Alcoa’s total global smelting system curtailments to approximately 24 percent. Alcoa expects to take a 4Q '09 charge of between $300 million and $500 million, pre-tax, including the temporary curtailment and recovery actions.
American Express AXP: 11/18/09 8K re: acquisition of Revolution Money, a Revolution LLC company which was launched by AOL Co-founder Steve Case's Revolution LLC in '07 & provides secure payments through an internet based platform. No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. Their online person-to-person payment accounts are FDIC insured and suited for social and instant messaging networks.
Bank of Am BAC: 11/27/09 8K re: the Board approved amendments to the 2009 compensation arrangements for Joe L. Price, Chief Financial Officer, & Barbara J. Desoer, President, Bank of America Mortgage, Home Equity and Insurance Services.
Boeing BA: 11/20/09 8K re: Boeing issued $700,000,000 of 1.875% Senior Notes due 2012 and $500,000,000 of 3.750% Senior Notes due 2016.
Caterpiller CAT: 11/19/09 8K disclosing supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2001 and set to expire in February 2010 and sell the acquired shares of Cisco stock for up to 80,000 shares of Cisco stock.
Coke KO: 10/29/09 10QA
Disney DIS: 11/13/09 8K re: effective January 1, 2010, Thomas O. Staggs, currently Sr. Exec. VP & CFO, will become Chairman, Walt Disney Parks & Resorts, & James A. Rasulo, currently Chairman, Walt Disney Parks & Resorts, will become Sr. Exec. VP & CFO.
11/19/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due 1/15 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
Hewlett-Packard HPQ: 11/23/09 8K re: financial results for its 4Q ended 10/31/09, with net rev of $30.8 billion, down 8% from a year earlier.
Home Depot HD: 11/17/09 8K re: 3Q of fiscal 2009 net earnings of $689 million, or $0.41 per diluted share, compared with net earnings of $756 million, or $0.45 per diluted share, in the same period in fiscal 2008.
Intel INTC: 11/16/09 8K re: board of directors approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/20/09 re: Cazenove Group Limited (Cazenove) and J.P. Morgan have agreed a transaction under which their joint venture, J.P. Morgan Cazenove, will become a wholly owned part of J.P. Morgan.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/9/09 8K re: pursuant to Rule 2.5 of the U.K. City Code on Takeovers and Mergers Kraft disclosed its intention to make an offer to acquire each outstanding ordinary share of Cadbury plc.
11/9/09 8K re: an acquisition and refinancing bridge credit agreement for a 364-day senior unsecured term loan facility with the lenders led by Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Citibank, N.A. and Deutsche Bank AG Cayman Islands Branch, as co-administrative agents for loans up to £5.5 billion with a maturity date of 364 days.
McDonalds MCD: 11/12/09 8K re: CEO Jim Skinner outlined MCD’s priorities to continue to drive growth in sales, market share and returns through a strategic focus on its customers and restaurants under the successful Plan to Win. This includes plans to open about 1,000 new restaurants and reimage 2,300 existing locations worldwide in 2010.
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 11/24/09 8K re: Chris Liddell's departure as CFO to be replaced by Peter Klein.
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 11/24/09 8K re: an amendment to its VIP Excess Plan that offers eligible highly compensated employees with the opportunity to defer the receipt of a portion of their current cash compensation on a tax-favored basis.
Travelers TRV: 11/10/09 8K re: the resignation of Robert I. Lipp from the Board.
United Technologies UTX: 11/17/09 8K re: its purchase of the GE Security business from GE for $1.82 billion. The closing is pending regulatory approvals. GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 11/12/09 8K re: diluted earnings per share from continuing operations for 3Q of fiscal year 2010 of $0.84, exceeding WMT’s guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year.
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Post #236 The following is brought to you by Intellivest Securities Research, Inc. 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 11/30/09 and an update of the Dow 30's most recent SEC filings as of 11/30/09.
A read of Monday's 11/30/09 print editions of: Wall St. Journal, Financial Times, New York Times, Investor's Business Daily, USA Today, Atlanta Journal Constitution, & Daily Report (Ga) 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 Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down .08 from last Friday's Dow close of 10,318.16. For the 52 week period the Dow is up 16.77. Year to date the market is up 17.47Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
Sat's WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Sat's Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
As of the open of the market today, the current divisor for the Dow found at page C4 of Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE: No mentions found.
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: No mentions found.
American Express AXP $40.84 -0.88 2.11% 6,004,141 NYSE: No mentions found.
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE: WSJ pB3 "FAA Rejects Boeing 777 Engine-Ice Warnings" by Andy Pasztor says the FA has rejected safety warnings from crash investigators and pilots and have decided to allow more than 130 Boeing 777 jetliners to continue flying long distance int'l trips through early 2011 with suspect parts that have caused engines in extremely rare instances to ice up and shut down in midair. This move caps months of debate in the int'l aviation community about the potential hazards of ice plugging up certain parts and restricting fuel flow to Rolls-Royce PC engines.
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: No mentions found.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE: No mentions found.
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE: Daily Report p6 "Three stocks show growth at reasonable price" by John Dorfman says there are threw GARP stocks he likes - GARP means "growth at a reasonable price." The 3 are Walt Disney Co, Union Pacific and Stryker Ckorp. Disney sells for between 15 times and 20times earnings and currently is at a multiple of 16. Investors have had a variety of complaints about Disney in the past 6 years. Management of the Burbank, Ca. firm suffered from infighting. The purchase of the ABC tv network was considered a flop by some as network tv lsot market share to cable. People worried that high gas prices and the recession would keep people away from thier parks. Since Robert Iger took over in '05, Disney hasn't earned less than $1.64 per year and it made it through the Great Recession of '08 - '09 without bleeding red ink. Even though ABC has been a disappointment, Dis's media oeprations includes an 80% stake in ESPN, 50% stake in ABC Family channel, Lifetime Entertainment and 10 tv stations. The media biz is Disney's largest source of rev. People came to their parks which caused rev from the parks to grow 7 to 8% annually. Dis stock was at a high at $43 a share in April 2000. Today, shares trade at just under $30 but the firm is bigger and better. For the fiscal year ended in Oct., Dis earned $3.3 bil on rev of $36 bil.
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE: No mentions found.
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: No mentions found.
GE $15.94 -0.24 1.48% 60,916,051 NYSE: No mentions found.
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE: No mentions found.
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE:
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
IBM $125.7 -1.58 1.24% 3,319,189 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE: No mentions found.
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE: No mentions found.
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE: No mentions found.
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS: No mentions found.
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE: No mentions found.
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE: No mentions found.
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE: No mentions found.
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE: No mentions found.
Verizon VZ $31.63 -0.40 1.25% 8,551,812 NYSE: No mentions found.
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: Inv. Bus. Daily pB11 "For McCormick, Much At Stake With Wal-Mart" by Patrick Cains says McCormick, the multibillion dollar spice firm just increased its dividend by 8% last week giving it a yield of 2.6%. McCormick is a 110 year old company that sell herbs and spices in grocery stores across the US. Wal-Mart shold determine McCormick's future as some of their stores are testing a private label line of spices in locations where there are no duplicate McCormick spices. That's a threat to McCormick because Wal-Mart is a major customer.
Inv. Bus. Daily pA4 "Wal-Mart, Amazon Battling For More Electronics Sales" by Patrick Seitz says consumer electronics deals are bring out the crowds for holiday retail sales. But a bruising price war between online retailer Amazon.com and Wal-Mart could drag down profitability across the sector. Amazon has been slashing prices on a host of electronics, including TVs and GPS devices and WalMart has followed with its own price cuts. This price war started in the fall with books and DVDs and it spread to toys and electronics. WalMart is trying to drive traffic into its stores using low priced electronics as bait. WalMart is the top destination for video game consoles.
WSJ pC10 "Overheard" says retailers are upset about losing electronin sales to Wal-Mart and Best Buy.
WSJ pB2 "Closing of Quebec WalMart Upheld" says the Supreme Ct. of Canada said that WalMart was entitled to close a store in Quebec in '05, 7 months after workers voted to become the first WalMart store in N. America to unionize.
***************************************
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
11/30/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $360 [5]
2. Microsoft MSFT 260 [9]
3. WalMart WMT 211 [4]
4. Chevron CVX 191 [2.5]
5. Procter & Gamble PG 183 [3]
6. Johnson & Johnson JNJ 174 [3]
7. GE 170 [10.5]
8. IBM 165 [1.5]
9. JPMorgan Chase 163 [4]
10. AT&T 159 [6]
11. Pfizer PFE 147 [8]
12. Cisco CSCO 134 [6]
13. BAC 134 [6.5]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 116 [2]
16. Intel INTC 107 [5.5]
17. McDonald's MCD 106 [1]
18. Verizon VZ 90 [3]
19. Merck MRK 77 [2]
20. United Technologies UTX 63 [1]
21. Disney DIS 56 [2]
22. 3M MMM 54 [.5]
23. American Express AXP 49 [1]
24. Home Depot 47 [2]
25. Kraft KFT 39 [1.5]
26. Boeing BA 38 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 31 [1]
29. Travelers 28 [.5]
30. Alcoa AA 12 [1]
Here are the latest SEC filings as of 11/30/09 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: 11/6/09 8K re:the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
Alcoa AA: 11/20/09 8K re: that it will temporarily idle production at its two aluminum smelters in Fusina and Portovesme, Italy while appealing a European Commission decision that Italy’s extension of the existing electricity tariff after 2005 did not comply with European Union state aid rules and that a portion of the benefit received by Alcoa must be refunded. The curtailments in Italy will bring Alcoa’s total global smelting system curtailments to approximately 24 percent. Alcoa expects to take a 4Q '09 charge of between $300 million and $500 million, pre-tax, including the temporary curtailment and recovery actions.
American Express AXP: 11/18/09 8K re: acquisition of Revolution Money, a Revolution LLC company which was launched by AOL Co-founder Steve Case's Revolution LLC in '07 & provides secure payments through an internet based platform. No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. Their online person-to-person payment accounts are FDIC insured and suited for social and instant messaging networks.
Bank of Am BAC: 11/27/09 8K re: the Board approved amendments to the 2009 compensation arrangements for Joe L. Price, Chief Financial Officer, & Barbara J. Desoer, President, Bank of America Mortgage, Home Equity and Insurance Services.
Boeing BA: 11/20/09 8K re: Boeing issued $700,000,000 of 1.875% Senior Notes due 2012 and $500,000,000 of 3.750% Senior Notes due 2016.
Caterpiller CAT: 11/19/09 8K disclosing supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2001 and set to expire in February 2010 and sell the acquired shares of Cisco stock for up to 80,000 shares of Cisco stock.
Coke KO: 10/29/09 10QA
Disney DIS: 11/13/09 8K re: effective January 1, 2010, Thomas O. Staggs, currently Sr. Exec. VP & CFO, will become Chairman, Walt Disney Parks & Resorts, & James A. Rasulo, currently Chairman, Walt Disney Parks & Resorts, will become Sr. Exec. VP & CFO.
11/19/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due 1/15 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
Hewlett-Packard HPQ: 11/23/09 8K re: financial results for its 4Q ended 10/31/09, with net rev of $30.8 billion, down 8% from a year earlier.
Home Depot HD: 11/17/09 8K re: 3Q of fiscal 2009 net earnings of $689 million, or $0.41 per diluted share, compared with net earnings of $756 million, or $0.45 per diluted share, in the same period in fiscal 2008.
Intel INTC: 11/16/09 8K re: board of directors approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/20/09 re: Cazenove Group Limited (Cazenove) and J.P. Morgan have agreed a transaction under which their joint venture, J.P. Morgan Cazenove, will become a wholly owned part of J.P. Morgan.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/9/09 8K re: pursuant to Rule 2.5 of the U.K. City Code on Takeovers and Mergers Kraft disclosed its intention to make an offer to acquire each outstanding ordinary share of Cadbury plc.
11/9/09 8K re: an acquisition and refinancing bridge credit agreement for a 364-day senior unsecured term loan facility with the lenders led by Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Citibank, N.A. and Deutsche Bank AG Cayman Islands Branch, as co-administrative agents for loans up to £5.5 billion with a maturity date of 364 days.
McDonalds MCD: 11/12/09 8K re: CEO Jim Skinner outlined MCD’s priorities to continue to drive growth in sales, market share and returns through a strategic focus on its customers and restaurants under the successful Plan to Win. This includes plans to open about 1,000 new restaurants and reimage 2,300 existing locations worldwide in 2010.
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 11/24/09 8K re: Chris Liddell's departure as CFO to be replaced by Peter Klein.
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 11/24/09 8K re: an amendment to its VIP Excess Plan that offers eligible highly compensated employees with the opportunity to defer the receipt of a portion of their current cash compensation on a tax-favored basis.
Travelers TRV: 11/10/09 8K re: the resignation of Robert I. Lipp from the Board.
United Technologies UTX: 11/17/09 8K re: its purchase of the GE Security business from GE for $1.82 billion. The closing is pending regulatory approvals. GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 11/12/09 8K re: diluted earnings per share from continuing operations for 3Q of fiscal year 2010 of $0.84, exceeding WMT’s guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year.
Sunday, November 29, 2009
11/29/09 Sunday Home Depot Looks Good to Barron's
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 #235 The following is brought to you by Intellivest Securities Research, Inc. 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/6/09.
Today's read of the print edition of 11/30/09 issue Barron's, The New York Times, 12/7/09 issue of Business Week, Dec. '9 issues of US news & World Report, 11/30 issue of Newsweek 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:
The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down .08 from last Friday's Dow close of 10,318.16. For the 52 week period the Dow is up 16.77. Year to date the market is up 17.47Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
Sat's WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Sat's Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
Barron's pM47 "Dates To Watch For" lists key dates in Dec. that could impact the stock market, e.g. on 12/1 construction expenditures for Oct will be released as will pending homes sales index for Oct. and for Nov. data will be released for car sales, ISM Mfg. report on business, and ICSC/GS Weekly Chain Store Sales Snapshot. The list will also tell you the time the data is released.
As of the open of the market Friday, the current divisor for the Dow found at page B4 of Sat's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE: No mentions found.
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: No mentions found.
American Express AXP $40.84 -0.88 2.11% 6,004,141 NYSE: Barron's list of NYSE New Highs for the Week at pM54 lists American Express.
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: Bus Wk p18 says in '09 so far JPMorgan is the No. 4 global deal maker adviser behind Morgan Stanley, Goldman Sachs and Citi. Bank of America is 5th.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE: Barron's pm59 says Boeing will pay a .42 dividend on Fri.
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: No mentions found.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: Barron's pM55 lists the per share value of stock in the Dow Jones 30 and has Chevron with the highest book value at $42.77 and Boeing with the lowest at -1.78.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE: Barron's p23 "At Pepsi, the Glass Is Half Full" by Jacqueline Doherty says Pepsi trades for 15 times next year's consensus, estimate, near the bottom of its 10 year range of 13.1 to 31.6 times expected earnings. It trades at a discount to arch-rival Coca-Cola, which sports a price/earnings multiple of 17, and consumer products giants such as Colgate-Palmolive and Procter & Gamble which trade, respectively, for 17.3 and 15.6 times 2010 forecasts.
Bus Wk p16 says for the holiday marketing campaign in London, KO will sponsor street musicians who perform in the vast Underground transport system.
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE: Bus Wk p28 "Hulu's Touch Choices" by Ronald Grover says since its launch in late '07, Hulu has defined the Old Media vision of video on the Web. Each month the site's 1,700 title catalog of tv shows and movies attracts 40 mil viewers. Those days may be ending. NBC, Fox, and ABC (GE owns NBC and Disney owns ABC) are warming to the idea of charging for some of the content. Hulu is expected to start testing subscription tiers for its programs in the new years. Hulu is in talks with cable operators such as Comcast and Time Warner to limit acceoss o those viewers who can prove they pay for a cable subscription. Hulu is No. 2 after YouTube for videos streamed but it is still going to lose $33 mil this year. Disney is an investor in Hulu and wants to keep letting people watch ABC's shows for fre on Hulu.
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE: No mentions found.
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: No mentions found.
GE $15.94 -0.24 1.48% 60,916,051 NYSE: No mentions found.
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE: Barron's p30 "Glimmers in a Fading Year" by Mark Veverka says HP last week confirmed robust earnings for is fiscal 4Q. HP's consulting and service unit, which now includes EDS, had a very strong 2Q. The EDS group had more customer signings in the quarter including deals with Coca-Cola and Eli Lilly.
Bus Wk p8says HP's profits jumped 14% to $2.4 bil in the 4Q ended 10.31 ad HP slashed computer prices to maintain its standing as the world's No. 1 PC maker but it got a big boost from its $13.9 bil purchase last year of Electronic Data Systems, which is now HP Enterprise Services.
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE: Barron's p13 "Follow-Up: Signs of Improvement at Home Depot" by Neil A. Martin says Home Depot seems to be putting its house in order. Last summer Barron's published an upbeat appraisal of Home Depot whose $70 bil in annual global sales make it the world's largest retail home improvement firm. Home Depot's stock had fallen by 40% to around 25 this summer since Frank Blake replaced Robert Nardelli as CEO in '07. Home Deport shares are now up about 15% but there is reason to believe that they could hit the June '10 target of 32 that some bulls had set after their fall. Blake has cut costs, reorganized HD's supply chain and merchandising systems, improved customer service and boosted employee morale. Home Depot has higher margins and increased same store sales, especially in comparison with Lowe's, the No. 2 home improvement chain. At HD's 11/17 earnings call, HD reported quarterly net of 41 cents a share, 8.9% below the year earlier level, but 17% above the 35 cents most analysts had expected. The results were aided by a 10.8% operating expense cut. For the first time since 2000, Home Depot's 2,200 plus outlets had better same store sales than Lowe's for two consecutive quarters. As of 10/31 HD had 20.5% of th home improvement market, up by 0.95% of a percentage point over the preceding 12 months. The consensus forecast is for HD's profits to come in at $1.70.
Barron's pM3 "Of Palm-Shaped Isles and Empty Mall Aisles" by Kopin Tan says US malls are nearly 20% vacant heading into the holiday season. The glut of stores was built in a previous era of cheap debt and rabid expansion. Stores need to be demolished. Even a cyclical recovery that returned sales to about $300 per square foot can only trim vacancy rates to 15%, not enough to remedy the supply demand imbalance plaguing retail real estate. Retailers best able to cut unwanted capacity include firms with shorter term leases like Dollar Tree, Dick's Sporting Good, as well as companies that own productive real estate at low costs, such as Home Depot, Lowe's and WalMart.
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS: Barron's pm59 says Intel will pay a .14 dividend on Tues.
IBM $125.7 -1.58 1.24% 3,319,189 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists IBM.
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE: Barron's p40 has an interview by Lawrence C. Strauss with Michael Cembalest, Chief Investment Officer of JP organ Private bank who is 47 and has been with the firm since 1987.
Bus Wk p18 says in '09 so far JPMorgan is the No. 4 global deal maker adviser behind Morgan Stanley, Goldman Sachs and Citi. Bank of America is 5th.
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists Johnson & Johnson.
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Business Week p 6 says on Nov. 18, Hershey's and Italy's Ferrero confirmed that they were mulling bids to make a competing offer versus Kraft's $16.4 bil bid for Cadbury. On Nov. 22 Swiss firm Nestle said it may make a bid as well.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE: No mentions found.
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists Merck.
Bus Wk p48 "Can Roche Leave Genentech Alone? by Arlene Weintraub says Roche earlier this year bought its long time drug development partner, Genetch, and got Herceptin for breasat cancer and Avastin for colon cancer which Roche was selling and accounted for 40% of Roche's $42.3 bil in rev last year. Several of the world's top pharma firms are spending the final weeks of '09 digesting some of the biggest acquisitions in their history. Pfizer just closed its $68 bil merger with Wyeth, and Merck sewed up its $41 bil purchase of Schering-Plough.
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS: Barron's p29 "$180 Bil Later, AOL Shares Are Finally a Bargain" by Eric J. Savitz says in Jan .2000 AOL bought Time Warner for $182 bil that created an Internet and media firm with a combined market cap of $350 bil. On Dec. 9, Time Warner will spin AOL back out to the public. The new AOL has a market cap of $2.4 bil. The years havenn't been kind to AOL. Dial up Internet access is shrinking as broadband Internet access become widespread. AOL lost the Internet search business and outsources it to Google and trails Microsoft, Yahoo and even Ask.com.
Bus. Wk p8 and p26 "Murdoch vs. Google by Douglas MacMillan say Rupert Murdoch's News Corp. has held early stage talks with Microsoft to forge a deal that would strip Wall St. Journal content from Google's search engine. MSFT would pay a fee in exchange for the right to carry the content on its Bing search engine. 26% of the WSJ's online traffic arrives via the Internet.
US News & World Rpt. p82 "Creating an Online Record" by Katherine Hobson says Google and Microsoft are just two of the players hoping to help people manage medical information by creating a central repository for all your health info, from family history to lab results with ways to share it with doctors or anyone the patient chooses.
Pfizer PFE $18.25 -0.34 1.83% 22,830,294 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists Pfizer.
Barron's pm59 says Pfizer will pay a .16 dividend on Tues.
Bus Wk p48 "Can Roche Leave Genentech Alone? by Arlene Weintraub says Roche earlier this year bought its longtime drug development partner, Genetch, and got Herceptin for breasat cancer and Avastin for colon cancer which Roche was selling and accounted for 40% of Roche's $42.3 bil in rev last year. Several of the world's top pharma firms are spending the final weeks of '09 digesting some of the biggest acquisitions in their history. Pfizer just closed its $68 bil merger with Wyeth, and Merck sewed up its $41 bil purchase of Schering-Plough.
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE: Barron's p23 "At Pepsi, the Glass Is Half Full" by Jacqueline Doherty says Pepsi trades for 15 times next year's consensus, estimate, near the bottom of its 10 year range of 13.1 to 31.6 times expected earnings. It trades at a discount to arch-rival Coca-Cola, which sports a price/earnings multiple of 17, and consumer products giants such as Colgate-Palmolive and Procter & Gamble which trade, respectively, for 17.3 and 15.6 times 2010 forecasts.
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE: No mentions found.
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE: No mentions found.
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE: No mentions found.
Verizon VZ $31.63 -0.40 1.25% 8,551,812 NYSE: No mentions found.
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: Barron's pM3 "Of Palm-Shaped Isles and Empty Mall Aisles" by Kopin Tan says US malls are nearly 20% vacant heading into the holiday season. The glut of stores was built in a previous era of cheap debt and rabid expansion. Stores need to be demolished. Even a cyclical recovery that returned sales to about $300 per square foot can only trim vacancy rates to 15%, not enough to remedy the supply demand imbalance plaguing retail real estate. Retailers best able to cut unwanted capacity include firms with shorter term leases like Dollar Tree, Dick's Sporting Good, as well as companies that own productive real estate at low costs, such as Home Depot, Lowe's and WalMart.
Barron's p32 "An Ugly Reading for Barnes & Noble" by Teresa Rivas says book retail firms are hurting. The discounting of bestsellers continues and now with retail giants like Walmart Stores and Amazon.com vying for a bigger piece of the pie, competition among books sellers has intensified.
Bus Wk p30 and Cover Story "Look Who'sStalking WalMart" by Michelle Conlinsays target is increasingly going downmarket to get through te consumer recession Target is now carrying groceries. Target reinvented American retailing by democratizing design, is rescued the family budgeter from he aesthetic provinces of dinete sets and acid washed jeans. It was one of the first to use famous fashion designers to draw people into its stores. Target CEO denies that they are trying to become more like Walmart and abandon their 15 year old slogan "Expect more, pay less."
***************************************
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
11/6/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $349 [5]
2. Microsoft MSFT 254 [9]
3. WalMart WMT 198 [4]
4. Procter & Gamble PG 178 [3]
5. JPMorgan Chase 171 [4]
6. Johnson & Johnson JNJ 164 [3]
7. GE 163 [10.5]
8. IBM 162 [1.5]
9. Chevron CVX 155 [2]
10. Cisco CSCO 155 [6]
11. AT&T 153 [6]
12. BAC 130 [6.5]
13. Coke KO 126 [2]
14. Hewlett-Packard HPQ 117 [ 2]
15. Pfizer PFE 116 [7]
16. Intel INTC 106 [5.5]
17. Verizon VZ 69 [3]
18. Merck MRK 69 [2
19. McDonald's MCD 67 [1]
20. United Technologies UTX 61 [1]
21. 3M MMM 53 [.5]
22. Disney DIS 53 [2]
23. Home Depot 44 [2]
24. American Express AXP 44 [1]
25. Kraft KFT 40 [1.5]
26. Caterpillar CAT 36 [.5]
27. Boeing BA 34 [1]
28. DuPont DD 30 [1]
29. Travelers 28 [.5]
30. Alcoa AA 11 [1]
Here are the latest SEC filings as of 11/7/09 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: 11/6/09 8K announced the completion of the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
11/5/09 10-Q
Alcoa AA: 10/23/09 10Q
American Express AXP: 10/30/09 10Q
Bank of Am BAC: 11/6/09 10Q
Boeing BA: 11/5/09 8K to reflect certain adjustments that have been made to prior year consolidated financial statements that were previously filed with the SEC on Form 10-K for the year ended December 31, 2008.
Caterpiller CAT: 10/30/09 10-Q
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/4/09 8K On November 4, 2009, Cisco reported its results of operations for its fiscal first quarter 2010 ended October 24, 2009. Advisor, $750,000.
Coke KO: 10/29/09 10QA
Disney DIS: 10/27/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due January 15, 2015 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
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.
Home Depot HD: 9/3/09 10-Q
Intel INTC: 11/5/09 8K Regulation FD Disclosure that on November 4, 2009, NY Attorney General Andrew Cuomo filed a lawsuit against Intel in the US Dist. Ct. for the District of Delaware alleging that Intel has violated the federal antitrust laws, the New York Donnelly Act (N.Y. Gen. Bus. Law § 340 et seq.), and § 63(12) of the New York Executive Law. The lawsuit alleges that Intel has engaged in a worldwide campaign of illegal, exclusionary conduct to maintain Intel’s alleged monopoly power and prices in the market for x86 microprocessors. The lawsuit seeks unspecified damages trebled, restitution, disgorgement, an injunction, $1,000,000 for each violation of the Donnelly Act, and attorneys’ fees and costs. Intel strongly disagrees with the plaintiff’s allegations and claims, and intends to conduct a vigorous defense of the lawsuit.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/6/09 Reg. FD disclosure relating to an investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/3/09 10Q
McDonalds MCD: 11//5/09 10Q
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 10/23/09 10Q
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 10/20/09 10Q
Travelers TRV: 10/22/09 10Q
United Technologies UTX: 10/23/09 10Q
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 8K 9/18/09 pricing agreement relating to a $1 bil Euro Note Offering.
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #235 The following is brought to you by Intellivest Securities Research, Inc. 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/6/09.
Today's read of the print edition of 11/30/09 issue Barron's, The New York Times, 12/7/09 issue of Business Week, Dec. '9 issues of US news & World Report, 11/30 issue of Newsweek 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:
The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down .08 from last Friday's Dow close of 10,318.16. For the 52 week period the Dow is up 16.77. Year to date the market is up 17.47Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
Sat's WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Sat's Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
Barron's pM47 "Dates To Watch For" lists key dates in Dec. that could impact the stock market, e.g. on 12/1 construction expenditures for Oct will be released as will pending homes sales index for Oct. and for Nov. data will be released for car sales, ISM Mfg. report on business, and ICSC/GS Weekly Chain Store Sales Snapshot. The list will also tell you the time the data is released.
As of the open of the market Friday, the current divisor for the Dow found at page B4 of Sat's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE: No mentions found.
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: No mentions found.
American Express AXP $40.84 -0.88 2.11% 6,004,141 NYSE: Barron's list of NYSE New Highs for the Week at pM54 lists American Express.
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: Bus Wk p18 says in '09 so far JPMorgan is the No. 4 global deal maker adviser behind Morgan Stanley, Goldman Sachs and Citi. Bank of America is 5th.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE: Barron's pm59 says Boeing will pay a .42 dividend on Fri.
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: No mentions found.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: Barron's pM55 lists the per share value of stock in the Dow Jones 30 and has Chevron with the highest book value at $42.77 and Boeing with the lowest at -1.78.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE: Barron's p23 "At Pepsi, the Glass Is Half Full" by Jacqueline Doherty says Pepsi trades for 15 times next year's consensus, estimate, near the bottom of its 10 year range of 13.1 to 31.6 times expected earnings. It trades at a discount to arch-rival Coca-Cola, which sports a price/earnings multiple of 17, and consumer products giants such as Colgate-Palmolive and Procter & Gamble which trade, respectively, for 17.3 and 15.6 times 2010 forecasts.
Bus Wk p16 says for the holiday marketing campaign in London, KO will sponsor street musicians who perform in the vast Underground transport system.
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE: Bus Wk p28 "Hulu's Touch Choices" by Ronald Grover says since its launch in late '07, Hulu has defined the Old Media vision of video on the Web. Each month the site's 1,700 title catalog of tv shows and movies attracts 40 mil viewers. Those days may be ending. NBC, Fox, and ABC (GE owns NBC and Disney owns ABC) are warming to the idea of charging for some of the content. Hulu is expected to start testing subscription tiers for its programs in the new years. Hulu is in talks with cable operators such as Comcast and Time Warner to limit acceoss o those viewers who can prove they pay for a cable subscription. Hulu is No. 2 after YouTube for videos streamed but it is still going to lose $33 mil this year. Disney is an investor in Hulu and wants to keep letting people watch ABC's shows for fre on Hulu.
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE: No mentions found.
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: No mentions found.
GE $15.94 -0.24 1.48% 60,916,051 NYSE: No mentions found.
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE: Barron's p30 "Glimmers in a Fading Year" by Mark Veverka says HP last week confirmed robust earnings for is fiscal 4Q. HP's consulting and service unit, which now includes EDS, had a very strong 2Q. The EDS group had more customer signings in the quarter including deals with Coca-Cola and Eli Lilly.
Bus Wk p8says HP's profits jumped 14% to $2.4 bil in the 4Q ended 10.31 ad HP slashed computer prices to maintain its standing as the world's No. 1 PC maker but it got a big boost from its $13.9 bil purchase last year of Electronic Data Systems, which is now HP Enterprise Services.
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE: Barron's p13 "Follow-Up: Signs of Improvement at Home Depot" by Neil A. Martin says Home Depot seems to be putting its house in order. Last summer Barron's published an upbeat appraisal of Home Depot whose $70 bil in annual global sales make it the world's largest retail home improvement firm. Home Depot's stock had fallen by 40% to around 25 this summer since Frank Blake replaced Robert Nardelli as CEO in '07. Home Deport shares are now up about 15% but there is reason to believe that they could hit the June '10 target of 32 that some bulls had set after their fall. Blake has cut costs, reorganized HD's supply chain and merchandising systems, improved customer service and boosted employee morale. Home Depot has higher margins and increased same store sales, especially in comparison with Lowe's, the No. 2 home improvement chain. At HD's 11/17 earnings call, HD reported quarterly net of 41 cents a share, 8.9% below the year earlier level, but 17% above the 35 cents most analysts had expected. The results were aided by a 10.8% operating expense cut. For the first time since 2000, Home Depot's 2,200 plus outlets had better same store sales than Lowe's for two consecutive quarters. As of 10/31 HD had 20.5% of th home improvement market, up by 0.95% of a percentage point over the preceding 12 months. The consensus forecast is for HD's profits to come in at $1.70.
Barron's pM3 "Of Palm-Shaped Isles and Empty Mall Aisles" by Kopin Tan says US malls are nearly 20% vacant heading into the holiday season. The glut of stores was built in a previous era of cheap debt and rabid expansion. Stores need to be demolished. Even a cyclical recovery that returned sales to about $300 per square foot can only trim vacancy rates to 15%, not enough to remedy the supply demand imbalance plaguing retail real estate. Retailers best able to cut unwanted capacity include firms with shorter term leases like Dollar Tree, Dick's Sporting Good, as well as companies that own productive real estate at low costs, such as Home Depot, Lowe's and WalMart.
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS: Barron's pm59 says Intel will pay a .14 dividend on Tues.
IBM $125.7 -1.58 1.24% 3,319,189 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists IBM.
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE: Barron's p40 has an interview by Lawrence C. Strauss with Michael Cembalest, Chief Investment Officer of JP organ Private bank who is 47 and has been with the firm since 1987.
Bus Wk p18 says in '09 so far JPMorgan is the No. 4 global deal maker adviser behind Morgan Stanley, Goldman Sachs and Citi. Bank of America is 5th.
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists Johnson & Johnson.
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Business Week p 6 says on Nov. 18, Hershey's and Italy's Ferrero confirmed that they were mulling bids to make a competing offer versus Kraft's $16.4 bil bid for Cadbury. On Nov. 22 Swiss firm Nestle said it may make a bid as well.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE: No mentions found.
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists Merck.
Bus Wk p48 "Can Roche Leave Genentech Alone? by Arlene Weintraub says Roche earlier this year bought its long time drug development partner, Genetch, and got Herceptin for breasat cancer and Avastin for colon cancer which Roche was selling and accounted for 40% of Roche's $42.3 bil in rev last year. Several of the world's top pharma firms are spending the final weeks of '09 digesting some of the biggest acquisitions in their history. Pfizer just closed its $68 bil merger with Wyeth, and Merck sewed up its $41 bil purchase of Schering-Plough.
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS: Barron's p29 "$180 Bil Later, AOL Shares Are Finally a Bargain" by Eric J. Savitz says in Jan .2000 AOL bought Time Warner for $182 bil that created an Internet and media firm with a combined market cap of $350 bil. On Dec. 9, Time Warner will spin AOL back out to the public. The new AOL has a market cap of $2.4 bil. The years havenn't been kind to AOL. Dial up Internet access is shrinking as broadband Internet access become widespread. AOL lost the Internet search business and outsources it to Google and trails Microsoft, Yahoo and even Ask.com.
Bus. Wk p8 and p26 "Murdoch vs. Google by Douglas MacMillan say Rupert Murdoch's News Corp. has held early stage talks with Microsoft to forge a deal that would strip Wall St. Journal content from Google's search engine. MSFT would pay a fee in exchange for the right to carry the content on its Bing search engine. 26% of the WSJ's online traffic arrives via the Internet.
US News & World Rpt. p82 "Creating an Online Record" by Katherine Hobson says Google and Microsoft are just two of the players hoping to help people manage medical information by creating a central repository for all your health info, from family history to lab results with ways to share it with doctors or anyone the patient chooses.
Pfizer PFE $18.25 -0.34 1.83% 22,830,294 NYSE: Barron's list of NYSE New Highs for the Wekk at pM54 lists Pfizer.
Barron's pm59 says Pfizer will pay a .16 dividend on Tues.
Bus Wk p48 "Can Roche Leave Genentech Alone? by Arlene Weintraub says Roche earlier this year bought its longtime drug development partner, Genetch, and got Herceptin for breasat cancer and Avastin for colon cancer which Roche was selling and accounted for 40% of Roche's $42.3 bil in rev last year. Several of the world's top pharma firms are spending the final weeks of '09 digesting some of the biggest acquisitions in their history. Pfizer just closed its $68 bil merger with Wyeth, and Merck sewed up its $41 bil purchase of Schering-Plough.
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE: Barron's p23 "At Pepsi, the Glass Is Half Full" by Jacqueline Doherty says Pepsi trades for 15 times next year's consensus, estimate, near the bottom of its 10 year range of 13.1 to 31.6 times expected earnings. It trades at a discount to arch-rival Coca-Cola, which sports a price/earnings multiple of 17, and consumer products giants such as Colgate-Palmolive and Procter & Gamble which trade, respectively, for 17.3 and 15.6 times 2010 forecasts.
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE: No mentions found.
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE: No mentions found.
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE: No mentions found.
Verizon VZ $31.63 -0.40 1.25% 8,551,812 NYSE: No mentions found.
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: Barron's pM3 "Of Palm-Shaped Isles and Empty Mall Aisles" by Kopin Tan says US malls are nearly 20% vacant heading into the holiday season. The glut of stores was built in a previous era of cheap debt and rabid expansion. Stores need to be demolished. Even a cyclical recovery that returned sales to about $300 per square foot can only trim vacancy rates to 15%, not enough to remedy the supply demand imbalance plaguing retail real estate. Retailers best able to cut unwanted capacity include firms with shorter term leases like Dollar Tree, Dick's Sporting Good, as well as companies that own productive real estate at low costs, such as Home Depot, Lowe's and WalMart.
Barron's p32 "An Ugly Reading for Barnes & Noble" by Teresa Rivas says book retail firms are hurting. The discounting of bestsellers continues and now with retail giants like Walmart Stores and Amazon.com vying for a bigger piece of the pie, competition among books sellers has intensified.
Bus Wk p30 and Cover Story "Look Who'sStalking WalMart" by Michelle Conlinsays target is increasingly going downmarket to get through te consumer recession Target is now carrying groceries. Target reinvented American retailing by democratizing design, is rescued the family budgeter from he aesthetic provinces of dinete sets and acid washed jeans. It was one of the first to use famous fashion designers to draw people into its stores. Target CEO denies that they are trying to become more like Walmart and abandon their 15 year old slogan "Expect more, pay less."
***************************************
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
11/6/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $349 [5]
2. Microsoft MSFT 254 [9]
3. WalMart WMT 198 [4]
4. Procter & Gamble PG 178 [3]
5. JPMorgan Chase 171 [4]
6. Johnson & Johnson JNJ 164 [3]
7. GE 163 [10.5]
8. IBM 162 [1.5]
9. Chevron CVX 155 [2]
10. Cisco CSCO 155 [6]
11. AT&T 153 [6]
12. BAC 130 [6.5]
13. Coke KO 126 [2]
14. Hewlett-Packard HPQ 117 [ 2]
15. Pfizer PFE 116 [7]
16. Intel INTC 106 [5.5]
17. Verizon VZ 69 [3]
18. Merck MRK 69 [2
19. McDonald's MCD 67 [1]
20. United Technologies UTX 61 [1]
21. 3M MMM 53 [.5]
22. Disney DIS 53 [2]
23. Home Depot 44 [2]
24. American Express AXP 44 [1]
25. Kraft KFT 40 [1.5]
26. Caterpillar CAT 36 [.5]
27. Boeing BA 34 [1]
28. DuPont DD 30 [1]
29. Travelers 28 [.5]
30. Alcoa AA 11 [1]
Here are the latest SEC filings as of 11/7/09 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: 11/6/09 8K announced the completion of the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
11/5/09 10-Q
Alcoa AA: 10/23/09 10Q
American Express AXP: 10/30/09 10Q
Bank of Am BAC: 11/6/09 10Q
Boeing BA: 11/5/09 8K to reflect certain adjustments that have been made to prior year consolidated financial statements that were previously filed with the SEC on Form 10-K for the year ended December 31, 2008.
Caterpiller CAT: 10/30/09 10-Q
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/4/09 8K On November 4, 2009, Cisco reported its results of operations for its fiscal first quarter 2010 ended October 24, 2009. Advisor, $750,000.
Coke KO: 10/29/09 10QA
Disney DIS: 10/27/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due January 15, 2015 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
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.
Home Depot HD: 9/3/09 10-Q
Intel INTC: 11/5/09 8K Regulation FD Disclosure that on November 4, 2009, NY Attorney General Andrew Cuomo filed a lawsuit against Intel in the US Dist. Ct. for the District of Delaware alleging that Intel has violated the federal antitrust laws, the New York Donnelly Act (N.Y. Gen. Bus. Law § 340 et seq.), and § 63(12) of the New York Executive Law. The lawsuit alleges that Intel has engaged in a worldwide campaign of illegal, exclusionary conduct to maintain Intel’s alleged monopoly power and prices in the market for x86 microprocessors. The lawsuit seeks unspecified damages trebled, restitution, disgorgement, an injunction, $1,000,000 for each violation of the Donnelly Act, and attorneys’ fees and costs. Intel strongly disagrees with the plaintiff’s allegations and claims, and intends to conduct a vigorous defense of the lawsuit.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/6/09 Reg. FD disclosure relating to an investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/3/09 10Q
McDonalds MCD: 11//5/09 10Q
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 10/23/09 10Q
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 10/20/09 10Q
Travelers TRV: 10/22/09 10Q
United Technologies UTX: 10/23/09 10Q
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 8K 9/18/09 pricing agreement relating to a $1 bil Euro Note Offering.
Saturday, November 28, 2009
11/28/09 Saturday WalMart Wins Canada case over Store Closing
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 #234 The following is brought to you by Intellivest Securities Research, Inc. 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/6/09.
Today's read of the print edition of The Wall Street Journal, Financial Times, The New York Times 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:
The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down 8.24 from last Friday's Dow close of 10,318.16. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
As of the open of the market Friday, the current divisor for the Dow found at page B4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
American ExpressAXP $40.84 -0.88 2.11% 6,004,141 NYSE:
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
GE $15.94 -0.24 1.48% 60,916,051 NYSE
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS
IBM $125.7 -1.58 1.24% 3,319,189 NYSE
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Fin Times p1 "Cadbury chief Stitzer warming to potential tie up with Hershey" by Jenny Wiggins says Todd Stitzer, Cadbury ceo has signaled support for a possible tie up with Hershey, declaring the US firm would be a better fit with it than Kraft, who made a $16.4 bil hostile bid.
Related story at Fin times p9 "Cadbury chief sweet on family values" by Jenny Wiggins.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE
VerizonVZ $31.63 -0.40 1.25% 8,551,812 NYSE
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: WSJ pB5 "Canada's Top Court Backs WalMart in Store Closing" says Canada's top court has ruled in favor of Walmart's Canadian unit over the closure of a unionized store in Quebec 4 years ago. The store made headlines when it was unionized in '04 without a vote but Walmart shut the store the following year saying it wasn't making money.
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #234 The following is brought to you by Intellivest Securities Research, Inc. 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/6/09.
Today's read of the print edition of The Wall Street Journal, Financial Times, The New York Times 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:
The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down 8.24 from last Friday's Dow close of 10,318.16. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
As of the open of the market Friday, the current divisor for the Dow found at page B4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
American ExpressAXP $40.84 -0.88 2.11% 6,004,141 NYSE:
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.
GE $15.94 -0.24 1.48% 60,916,051 NYSE
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS
IBM $125.7 -1.58 1.24% 3,319,189 NYSE
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Fin Times p1 "Cadbury chief Stitzer warming to potential tie up with Hershey" by Jenny Wiggins says Todd Stitzer, Cadbury ceo has signaled support for a possible tie up with Hershey, declaring the US firm would be a better fit with it than Kraft, who made a $16.4 bil hostile bid.
Related story at Fin times p9 "Cadbury chief sweet on family values" by Jenny Wiggins.
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE
VerizonVZ $31.63 -0.40 1.25% 8,551,812 NYSE
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: WSJ pB5 "Canada's Top Court Backs WalMart in Store Closing" says Canada's top court has ruled in favor of Walmart's Canadian unit over the closure of a unionized store in Quebec 4 years ago. The store made headlines when it was unionized in '04 without a vote but Walmart shut the store the following year saying it wasn't making money.
Friday, November 27, 2009
11/27.09 Fri. pm Dow Closes 10,309.92 down 154.48 or 1.48%
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 #233 The following is brought to you by Intellivest Securities Research, Inc. 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/6/09.
The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down 8.24 from last Friday's Dow close of 10,318.16. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
As of the open of the market Friday, the current divisor for the Dow found at page C4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.15 up from Thursday's 17.87 (year ago it was 18.26) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.66 down from Thursday's 2.70 (it was 3.62 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE
American ExpressAXP $40.84 -0.88 2.11% 6,004,141 NYSE
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE
GE $15.94 -0.24 1.48% 60,916,051 NYSE
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS
IBM $125.7 -1.58 1.24% 3,319,189 NYSE
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE
VerizonVZ $31.63 -0.40 1.25% 8,551,812 NYSE
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE
*********************************
The following is from Friday morning's Blog:
Today's read of the print edition of The Wall Street Journal, Financial Times, USA Today & The New York Times 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 Wednesday at 10464.4 up 30.69 or 0.29% from Tuesday's close of 10,433.71. Of the 30 Dow Companies: 10 declined, 1 was unchanged and 19 gained. The biggest gainer dollar-wise was Caterpillar CAT $59.04 +1.04 1.79% 6,234,686 NYSE and percentage-wise was Boeing BA $52.93 +0.96 1.85% 3,019,355 NYSE. The biggest decliner dollar-wise and percentage-wise was Kraft KFT $26.8 -0.42 1.54% 9,780,952 NYSE.
WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot and industrial giant Caterpillar.
Fin Times p24 "Slide in trding volumes puts focus on pace of rally" by Samantha Perason says US stocks have surged mroe than 60% since their March lows, but trading volumes have dwindled, raising questions about whether the rally is sustainable. March has proved to be the busiest month for the NYSE so far this year, with about 40 bil shares being traded.
As of the open of the market Friday, the current divisor for the Dow found at page C4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.15 up from Wednesday's 17.87 (year ago it was 18.26) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.66 down from Wednesday's 2.70 (it was 3.62 a year ago).
AT&T T $27.08 -0.02 0.07% 20,842,171 NYSE: No mentions found.
Alcoa AA $13 +0.08 0.62% 18,182,746 NYSE: No mentions found.
American Express AXP $41.72 +0.28 0.68% 7,078,444 NYSE: No mentions found.
Bank of America BAC $15.95 -0.15 0.93% 97,078,835 NYSE: WSJ pC1 "Wall St. Reopens Its Checkbook" by Assron Lucchetti, Jeffrey McCracken says JP Morgan Chase is ponying up $2.85 bil in financing to Denbury Resources as part of its takeover of Encore Acquisiton. Involved in the Kraft/Cadbury/Hershey deal is JP Morgan and BofA Merrill Lynch who have told Hershey they could provide %5 bilapiece in financing if Hershey wants to bid $17 bil for Cadbury.
Boeing BA $52.93 +0.96 1.85% 3,019,355 NYSE: No mentions found.
Caterpillar CAT $59.04 +1.04 1.79% 6,234,686 NYSE: WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot and industrial giant Caterpillar.
Chevron CVX $79.64 +0.61 0.77% 7,537,939 NYSE: No mentions found.
Cisco CSCO $23.74 unch unch 27,050,331 NASDAQ-GS: No mentions found.
Coca-Cola KO $58.11 -0.08 0.14% 6,683,560 NYSE: No mentions found.
Disney DIS $30.61 +0.38 1.26% 10,269,599 NYSE: WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot and industrial giant Caterpillar.
Dupont DD $35.15 +0.48 1.38% 3,946,648 NYSE: No mentions found.
ExxonMobil XOM $76.47 +0.50 0.66% 13,255,550 NYSE: No mentions found.
GE $16.18 +0.06 0.37% 48,108,601 NYSE: WSJ pB3 "GE Tries to Spped vivendi Talks" by Max Colchester, Sam Schechner, Jeffrey McCracken says GE CEO Jeffrey Immelt was in Paris trying to accelerate negotiations to acquires Vivendi's 20% interest in NBC Universal. GE has already ironed a deal to give cable firm Comcast Corp. control over NBC Universal but the deal hinges on Vivendi's selling its stake to GE.
Fin Times p18 "GE chief steps up push for Areva unit" by Peggy Hollinger says Jeffrey Immelt, GE's ceo made a last ditch bid to bolster GE's chance in the 3 way race to acquire the transmission and distribution arm of French state owned nuclear group, Avera, as political pressure mounted for a domestic solution. Immelt visited 2 of French Pres. Nicolas Sakozy's closest advisers on Wed hoping to convince thenm of the merits of GE's $6 bil offer for the world's third largest T&D firm.
Hewlett-Packard HPQ $50.05 -0.14 0.28% 12,738,854 NYSE: No mentions found.
Home Depot HD $27.85 +0.29 1.05% 11,446,514 NYSE: WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot as well as industrial giant Caterpillar.
Intel INTC $19.34 -0.05 0.26% 46,670,864 NASDAQ-GS: No mentions found.
IBM $127.28 -0.65 0.51% 3,963,989 NYSE: No mentions found.
J.P.Morgan Chase JPM $42.16 -0.32 0.75% 26,105,464 NYSE: WSJ pC9 "JPMorgan Fund Digs For Value in the Rough" by Matthias Rieker says Christopher Blum wwo runs JP Morgan Intrepid Value Fund uses a mix of quantitative and behavioral straegies to sort out unverdvalued stocks that investors shun because they act irrational or overlook opportunities forr short term gains. He is chief investment officer of the US behavioral finance group at JM Morgan Funds and maanges a group of funds that aim to leave Wall St.'s herd mentality behind.
WSJ pC1 "Wall St. Reopens Its Checkbook" by Assron Lucchetti, Jeffrey McCracken says JP Morgan Chase is ponying up $2.85 bil in financing to Denbury Resources as part of its takeover of Encore Acquisiton. Involved in the Kraft/Cadbury/Hershey deal is JP Morgan and BofA Merrill Lynch who have told Hershey they could provide %5 bilapiece in financing if Hershey wants to bid $17 bil for Cadbury.
Johnson & Johnson JNJ $63.3 +0.12 0.19% 7,167,593 NYSE: No mentions found.
Kraft KFT $26.8 -0.42 1.54% 9,780,952 NYSE: WSJ pB3 "Hershey Trust Seeks Cadbury-Bid Blessing" by Jeffrey McCracken, Ilan Brat says seeking to avoid pollitical issues that sidelined previous merger efforts, the trust overseeing Hershey has sought the blessing of the Pa. atty gen'l for a potential $17 bil bid for Cadbury. AG Tom Corbett, a Republican who is running for gov. has yet to tell the Hershey Trust Co. what he things. Under Pa. law, the state atty gen'l has broad powers to regulate charitable trusts in the state, a law that has been interpreted to allow him to blow the sale of Hershey or other deals that would threaten the trust's control of Hershey. Kraft has made a hostile $16.4 bil bid for Cadbury.
McDonald's MCD $64.45 +0.23 0.36% 7,598,964 NYSE: No mentions found.
Merck MRK $36.57 +0.35 0.97% 11,147,952 NYSE: No mentions found.
Microsoft MSFT $29.79 -0.12 0.4% 32,011,135 NASDAQ-GS: WSJ pB1 "Videogame Sales Running Out of Gas Ahead of Holiday" b y Uukari Iwatani Kane, Miguel Bustillo says recent excitement over a few select videogame titles masks concern that gamers won't be able to rescue reailers this Xmas. The poor showing comes even as the videogame industry has taken steps to prevent a weak holiday season. Sony and Microsoft recently cut the prices on models of their Playstation 3 and Xbox 360 gaming consoles by $100 to $299.99 Walmart, Amazon and Toys R US are offering a $20 gift card to those who preordered "Modern Warfare 2."
Pfizer PFE $18.59 +0.28 1.53% 42,086,456 NYSE: No mentions found.
Procter & Gamble PG $62.87 +0.07 0.11% 8,226,881 NYSE: No mentions found.
3M MMM $77.91 +0.30 0.39% 1,937,115 NYSE: No mentions found.
Travelers TRV $52.76 -0.33 0.62% 2,873,242 NYSE: No mentions found.
United Technologies UTX $68.31 +0.04 0.06% 2,721,191 NYSE: No mentions found.
Verizon VZ $32.03 +0.16 0.5% 16,409,241 NYSE: No mentions found.
Walmart WMT $54.96 +0.11 0.2% 9,056,794 NYSE: WSJ pB1 "Retailers Shift Discount Focus Online" by Miguel Bustillo says maajor retailers including Target, JC Penney, and Best Buy are cranining up promotions to avoid a slump after Black Friday and keep custoemrs shopping through what promises to be a difficult season. The proliferation of online specials before Black Friday, which also included special one day deals from WalMart underscores retailers' anxiety at forecasts this holiday season could be the second year in a row of declining sales.
WSJ pB1 "Videogame Sales Running Out of Gas Ahead of Holiday" b y Uukari Iwatani Kane, Miguel Bustillo says recent excitement over a few select videogame titles masks concern that gamers won't be able to rescue reailers this Xmas. The poor showing comes even as the videogame industry has taken steps to prevent a weak holiday season. Sony and Microsoft recently cut the prices on models of their Playstation 3 and Xbox 360 gaming consoles by $100 to $299.99 Walmart, Amazon and Toys R US are offering a $20 gift card to those who preordered "Modern Warfare 2."
Related story at Fin Times p1 "Retailers turn to social media to promote Black Friday deals" by Jonathan Birchall says retailers such as discounters Target and Walmart have used Facebook pages to publish doorbust and early bid deals traditionally announced in newspaper ad inserts on Thanksgiving.
***************************************
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
11/6/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $349 [5]
2. Microsoft MSFT 254 [9]
3. WalMart WMT 198 [4]
4. Procter & Gamble PG 178 [3]
5. JPMorgan Chase 171 [4]
6. Johnson & Johnson JNJ 164 [3]
7. GE 163 [10.5]
8. IBM 162 [1.5]
9. Chevron CVX 155 [2]
10. Cisco CSCO 155 [6]
11. AT&T 153 [6]
12. BAC 130 [6.5]
13. Coke KO 126 [2]
14. Hewlett-Packard HPQ 117 [ 2]
15. Pfizer PFE 116 [7]
16. Intel INTC 106 [5.5]
17. Verizon VZ 69 [3]
18. Merck MRK 69 [2
19. McDonald's MCD 67 [1]
20. United Technologies UTX 61 [1]
21. 3M MMM 53 [.5]
22. Disney DIS 53 [2]
23. Home Depot 44 [2]
24. American Express AXP 44 [1]
25. Kraft KFT 40 [1.5]
26. Caterpillar CAT 36 [.5]
27. Boeing BA 34 [1]
28. DuPont DD 30 [1]
29. Travelers 28 [.5]
30. Alcoa AA 11 [1]
Here are the latest SEC filings as of 11/7/09 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: 11/6/09 8K announced the completion of the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
11/5/09 10-Q
Alcoa AA: 10/23/09 10Q
American Express AXP: 10/30/09 10Q
Bank of Am BAC: 11/6/09 10Q
Boeing BA: 11/5/09 8K to reflect certain adjustments that have been made to prior year consolidated financial statements that were previously filed with the SEC on Form 10-K for the year ended December 31, 2008.
Caterpiller CAT: 10/30/09 10-Q
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/4/09 8K On November 4, 2009, Cisco reported its results of operations for its fiscal first quarter 2010 ended October 24, 2009. Advisor, $750,000.
Coke KO: 10/29/09 10QA
Disney DIS: 10/27/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due January 15, 2015 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
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.
Home Depot HD: 9/3/09 10-Q
Intel INTC: 11/5/09 8K Regulation FD Disclosure that on November 4, 2009, NY Attorney General Andrew Cuomo filed a lawsuit against Intel in the US Dist. Ct. for the District of Delaware alleging that Intel has violated the federal antitrust laws, the New York Donnelly Act (N.Y. Gen. Bus. Law § 340 et seq.), and § 63(12) of the New York Executive Law. The lawsuit alleges that Intel has engaged in a worldwide campaign of illegal, exclusionary conduct to maintain Intel’s alleged monopoly power and prices in the market for x86 microprocessors. The lawsuit seeks unspecified damages trebled, restitution, disgorgement, an injunction, $1,000,000 for each violation of the Donnelly Act, and attorneys’ fees and costs. Intel strongly disagrees with the plaintiff’s allegations and claims, and intends to conduct a vigorous defense of the lawsuit.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/6/09 Reg. FD disclosure relating to an investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/3/09 10Q
McDonalds MCD: 11//5/09 10Q
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 10/23/09 10Q
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 10/20/09 10Q
Travelers TRV: 10/22/09 10Q
United Technologies UTX: 10/23/09 10Q
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 8K 9/18/09 pricing agreement relating to a $1 bil Euro Note Offering.
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #233 The following is brought to you by Intellivest Securities Research, Inc. 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/6/09.
The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down 8.24 from last Friday's Dow close of 10,318.16. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
As of the open of the market Friday, the current divisor for the Dow found at page C4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.15 up from Thursday's 17.87 (year ago it was 18.26) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.66 down from Thursday's 2.70 (it was 3.62 a year ago).
Friday's Dow Jones Industrial Average closing numerator was 1364.20 down 20.44 from Thursday's closing Dow numerator of 1384.64. 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 decrease of 20.44 for Friday by the divisor you get the decrease in Friday's Dow close of 154.48.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.47 down 0.70 from Thursday's Dow Jones Industrial Average closing price of $46.17. The median closing price of Friday's Dow Jones Industrial Average was $41.09. The lowest volume Friday was again 3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE NYSE and the highest volume again was Bank of Am BAC $15.47 -0.48 3.01% 96,686,916 NYSE.
If Friday morning before the market opened you had purchased 100 shares 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 $2,100. $ ($138,510 -$136,410).
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE
Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE
American ExpressAXP $40.84 -0.88 2.11% 6,004,141 NYSE
Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE
Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE
Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE
Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE
Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS
Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE
Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE
DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE
ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE
GE $15.94 -0.24 1.48% 60,916,051 NYSE
Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE
Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE
Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS
IBM $125.7 -1.58 1.24% 3,319,189 NYSE
J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE
Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE
Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE
McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE
Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE
Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS
Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE
Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE
3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE
Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE
United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE
VerizonVZ $31.63 -0.40 1.25% 8,551,812 NYSE
WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE
*********************************
The following is from Friday morning's Blog:
Today's read of the print edition of The Wall Street Journal, Financial Times, USA Today & The New York Times 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 Wednesday at 10464.4 up 30.69 or 0.29% from Tuesday's close of 10,433.71. Of the 30 Dow Companies: 10 declined, 1 was unchanged and 19 gained. The biggest gainer dollar-wise was Caterpillar CAT $59.04 +1.04 1.79% 6,234,686 NYSE and percentage-wise was Boeing BA $52.93 +0.96 1.85% 3,019,355 NYSE. The biggest decliner dollar-wise and percentage-wise was Kraft KFT $26.8 -0.42 1.54% 9,780,952 NYSE.
WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot and industrial giant Caterpillar.
Fin Times p24 "Slide in trding volumes puts focus on pace of rally" by Samantha Perason says US stocks have surged mroe than 60% since their March lows, but trading volumes have dwindled, raising questions about whether the rally is sustainable. March has proved to be the busiest month for the NYSE so far this year, with about 40 bil shares being traded.
As of the open of the market Friday, the current divisor for the Dow found at page C4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.15 up from Wednesday's 17.87 (year ago it was 18.26) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.66 down from Wednesday's 2.70 (it was 3.62 a year ago).
AT&T T $27.08 -0.02 0.07% 20,842,171 NYSE: No mentions found.
Alcoa AA $13 +0.08 0.62% 18,182,746 NYSE: No mentions found.
American Express AXP $41.72 +0.28 0.68% 7,078,444 NYSE: No mentions found.
Bank of America BAC $15.95 -0.15 0.93% 97,078,835 NYSE: WSJ pC1 "Wall St. Reopens Its Checkbook" by Assron Lucchetti, Jeffrey McCracken says JP Morgan Chase is ponying up $2.85 bil in financing to Denbury Resources as part of its takeover of Encore Acquisiton. Involved in the Kraft/Cadbury/Hershey deal is JP Morgan and BofA Merrill Lynch who have told Hershey they could provide %5 bilapiece in financing if Hershey wants to bid $17 bil for Cadbury.
Boeing BA $52.93 +0.96 1.85% 3,019,355 NYSE: No mentions found.
Caterpillar CAT $59.04 +1.04 1.79% 6,234,686 NYSE: WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot and industrial giant Caterpillar.
Chevron CVX $79.64 +0.61 0.77% 7,537,939 NYSE: No mentions found.
Cisco CSCO $23.74 unch unch 27,050,331 NASDAQ-GS: No mentions found.
Coca-Cola KO $58.11 -0.08 0.14% 6,683,560 NYSE: No mentions found.
Disney DIS $30.61 +0.38 1.26% 10,269,599 NYSE: WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot and industrial giant Caterpillar.
Dupont DD $35.15 +0.48 1.38% 3,946,648 NYSE: No mentions found.
ExxonMobil XOM $76.47 +0.50 0.66% 13,255,550 NYSE: No mentions found.
GE $16.18 +0.06 0.37% 48,108,601 NYSE: WSJ pB3 "GE Tries to Spped vivendi Talks" by Max Colchester, Sam Schechner, Jeffrey McCracken says GE CEO Jeffrey Immelt was in Paris trying to accelerate negotiations to acquires Vivendi's 20% interest in NBC Universal. GE has already ironed a deal to give cable firm Comcast Corp. control over NBC Universal but the deal hinges on Vivendi's selling its stake to GE.
Fin Times p18 "GE chief steps up push for Areva unit" by Peggy Hollinger says Jeffrey Immelt, GE's ceo made a last ditch bid to bolster GE's chance in the 3 way race to acquire the transmission and distribution arm of French state owned nuclear group, Avera, as political pressure mounted for a domestic solution. Immelt visited 2 of French Pres. Nicolas Sakozy's closest advisers on Wed hoping to convince thenm of the merits of GE's $6 bil offer for the world's third largest T&D firm.
Hewlett-Packard HPQ $50.05 -0.14 0.28% 12,738,854 NYSE: No mentions found.
Home Depot HD $27.85 +0.29 1.05% 11,446,514 NYSE: WSJ pC3 "Disney, Caterpillar Pace Dow's Gains" by Donna Kardos Yesalavich" says stocks rose Wed. pusing the Dow Jones Industrial Average to a 13 month high as better than expected data on concerms, housing and manufacturing boosted sentiment for consumer stocks including Walt Disney and Home Depot as well as industrial giant Caterpillar.
Intel INTC $19.34 -0.05 0.26% 46,670,864 NASDAQ-GS: No mentions found.
IBM $127.28 -0.65 0.51% 3,963,989 NYSE: No mentions found.
J.P.Morgan Chase JPM $42.16 -0.32 0.75% 26,105,464 NYSE: WSJ pC9 "JPMorgan Fund Digs For Value in the Rough" by Matthias Rieker says Christopher Blum wwo runs JP Morgan Intrepid Value Fund uses a mix of quantitative and behavioral straegies to sort out unverdvalued stocks that investors shun because they act irrational or overlook opportunities forr short term gains. He is chief investment officer of the US behavioral finance group at JM Morgan Funds and maanges a group of funds that aim to leave Wall St.'s herd mentality behind.
WSJ pC1 "Wall St. Reopens Its Checkbook" by Assron Lucchetti, Jeffrey McCracken says JP Morgan Chase is ponying up $2.85 bil in financing to Denbury Resources as part of its takeover of Encore Acquisiton. Involved in the Kraft/Cadbury/Hershey deal is JP Morgan and BofA Merrill Lynch who have told Hershey they could provide %5 bilapiece in financing if Hershey wants to bid $17 bil for Cadbury.
Johnson & Johnson JNJ $63.3 +0.12 0.19% 7,167,593 NYSE: No mentions found.
Kraft KFT $26.8 -0.42 1.54% 9,780,952 NYSE: WSJ pB3 "Hershey Trust Seeks Cadbury-Bid Blessing" by Jeffrey McCracken, Ilan Brat says seeking to avoid pollitical issues that sidelined previous merger efforts, the trust overseeing Hershey has sought the blessing of the Pa. atty gen'l for a potential $17 bil bid for Cadbury. AG Tom Corbett, a Republican who is running for gov. has yet to tell the Hershey Trust Co. what he things. Under Pa. law, the state atty gen'l has broad powers to regulate charitable trusts in the state, a law that has been interpreted to allow him to blow the sale of Hershey or other deals that would threaten the trust's control of Hershey. Kraft has made a hostile $16.4 bil bid for Cadbury.
McDonald's MCD $64.45 +0.23 0.36% 7,598,964 NYSE: No mentions found.
Merck MRK $36.57 +0.35 0.97% 11,147,952 NYSE: No mentions found.
Microsoft MSFT $29.79 -0.12 0.4% 32,011,135 NASDAQ-GS: WSJ pB1 "Videogame Sales Running Out of Gas Ahead of Holiday" b y Uukari Iwatani Kane, Miguel Bustillo says recent excitement over a few select videogame titles masks concern that gamers won't be able to rescue reailers this Xmas. The poor showing comes even as the videogame industry has taken steps to prevent a weak holiday season. Sony and Microsoft recently cut the prices on models of their Playstation 3 and Xbox 360 gaming consoles by $100 to $299.99 Walmart, Amazon and Toys R US are offering a $20 gift card to those who preordered "Modern Warfare 2."
Pfizer PFE $18.59 +0.28 1.53% 42,086,456 NYSE: No mentions found.
Procter & Gamble PG $62.87 +0.07 0.11% 8,226,881 NYSE: No mentions found.
3M MMM $77.91 +0.30 0.39% 1,937,115 NYSE: No mentions found.
Travelers TRV $52.76 -0.33 0.62% 2,873,242 NYSE: No mentions found.
United Technologies UTX $68.31 +0.04 0.06% 2,721,191 NYSE: No mentions found.
Verizon VZ $32.03 +0.16 0.5% 16,409,241 NYSE: No mentions found.
Walmart WMT $54.96 +0.11 0.2% 9,056,794 NYSE: WSJ pB1 "Retailers Shift Discount Focus Online" by Miguel Bustillo says maajor retailers including Target, JC Penney, and Best Buy are cranining up promotions to avoid a slump after Black Friday and keep custoemrs shopping through what promises to be a difficult season. The proliferation of online specials before Black Friday, which also included special one day deals from WalMart underscores retailers' anxiety at forecasts this holiday season could be the second year in a row of declining sales.
WSJ pB1 "Videogame Sales Running Out of Gas Ahead of Holiday" b y Uukari Iwatani Kane, Miguel Bustillo says recent excitement over a few select videogame titles masks concern that gamers won't be able to rescue reailers this Xmas. The poor showing comes even as the videogame industry has taken steps to prevent a weak holiday season. Sony and Microsoft recently cut the prices on models of their Playstation 3 and Xbox 360 gaming consoles by $100 to $299.99 Walmart, Amazon and Toys R US are offering a $20 gift card to those who preordered "Modern Warfare 2."
Related story at Fin Times p1 "Retailers turn to social media to promote Black Friday deals" by Jonathan Birchall says retailers such as discounters Target and Walmart have used Facebook pages to publish doorbust and early bid deals traditionally announced in newspaper ad inserts on Thanksgiving.
***************************************
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
11/6/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $349 [5]
2. Microsoft MSFT 254 [9]
3. WalMart WMT 198 [4]
4. Procter & Gamble PG 178 [3]
5. JPMorgan Chase 171 [4]
6. Johnson & Johnson JNJ 164 [3]
7. GE 163 [10.5]
8. IBM 162 [1.5]
9. Chevron CVX 155 [2]
10. Cisco CSCO 155 [6]
11. AT&T 153 [6]
12. BAC 130 [6.5]
13. Coke KO 126 [2]
14. Hewlett-Packard HPQ 117 [ 2]
15. Pfizer PFE 116 [7]
16. Intel INTC 106 [5.5]
17. Verizon VZ 69 [3]
18. Merck MRK 69 [2
19. McDonald's MCD 67 [1]
20. United Technologies UTX 61 [1]
21. 3M MMM 53 [.5]
22. Disney DIS 53 [2]
23. Home Depot 44 [2]
24. American Express AXP 44 [1]
25. Kraft KFT 40 [1.5]
26. Caterpillar CAT 36 [.5]
27. Boeing BA 34 [1]
28. DuPont DD 30 [1]
29. Travelers 28 [.5]
30. Alcoa AA 11 [1]
Here are the latest SEC filings as of 11/7/09 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: 11/6/09 8K announced the completion of the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.
11/5/09 10-Q
Alcoa AA: 10/23/09 10Q
American Express AXP: 10/30/09 10Q
Bank of Am BAC: 11/6/09 10Q
Boeing BA: 11/5/09 8K to reflect certain adjustments that have been made to prior year consolidated financial statements that were previously filed with the SEC on Form 10-K for the year ended December 31, 2008.
Caterpiller CAT: 10/30/09 10-Q
Chevron CVX: 11/5/09 10Q
Cisco CSCO: 11/4/09 8K On November 4, 2009, Cisco reported its results of operations for its fiscal first quarter 2010 ended October 24, 2009. Advisor, $750,000.
Coke KO: 10/29/09 10QA
Disney DIS: 10/27/09 Amended S-4 related to the takeover of Marvel.
DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due January 15, 2015 & $1,000,000,000 4.625% Notes due January 15, 2020
ExxonMobil XOM: 11/5/09 10Q
GE: 11/6/09 10QA
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.
Home Depot HD: 9/3/09 10-Q
Intel INTC: 11/5/09 8K Regulation FD Disclosure that on November 4, 2009, NY Attorney General Andrew Cuomo filed a lawsuit against Intel in the US Dist. Ct. for the District of Delaware alleging that Intel has violated the federal antitrust laws, the New York Donnelly Act (N.Y. Gen. Bus. Law § 340 et seq.), and § 63(12) of the New York Executive Law. The lawsuit alleges that Intel has engaged in a worldwide campaign of illegal, exclusionary conduct to maintain Intel’s alleged monopoly power and prices in the market for x86 microprocessors. The lawsuit seeks unspecified damages trebled, restitution, disgorgement, an injunction, $1,000,000 for each violation of the Donnelly Act, and attorneys’ fees and costs. Intel strongly disagrees with the plaintiff’s allegations and claims, and intends to conduct a vigorous defense of the lawsuit.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.
JPMorganChase JPM: 11/6/09 Reg. FD disclosure relating to an investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 11/3/09 10Q
McDonalds MCD: 11//5/09 10Q
Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.
Microsoft MSFT: 10/23/09 10Q
Pfizer PFE: 11/5/09 10Q
Procter & Gamble PG: 10/29/09 10Q
3M MMM: 10/20/09 10Q
Travelers TRV: 10/22/09 10Q
United Technologies UTX: 10/23/09 10Q
Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).
Wal-Mart WMT: 8K 9/18/09 pricing agreement relating to a $1 bil Euro Note Offering.
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