1/1/09 Sun. Kraft Reports Results Tues; Cisco to Report Earnings Wed

WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM

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Post #189 The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report. Towards the end of this Blog is a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of close of 10/28/09 and an update of the Dow 30's most recent SEC filings as of 10/12/09.

A read of Sunday's 1/1/09 print editions of: New York Times & Atlanta Journal Constitution, 11/2/09 issue of Barron's 11/16/09 issue of Forbes,11/9/09 issue of Business Week, Oct. issue of Chief Executive, 11/9/09 issue of Time & Nov. issue of Corporate Counsel 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 9712.73 down 249.85 or 2.51% from Thursday's close of 9962.58. For the week the Dow was down 2.6% from last Friday's closing of 9972.18 and year to date it is up 10.67%. For the past 52 week period the Dow is up 4.16%. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise and percentage-wise was J.P. Morgan Chase JPM $41.77 -2.58 5.82% 56,824,000 NYSE.

Barron's p3 "Going to Extremes" by Alan Abelson says with the Dow Industrials suffering triple-digit losses in 3 of the last 4 sessions and the mass of the market subject to a fiercer buffeting than the good old Dow indicated, as fear and loathing careered through the Street equities suddenly did a boisterous about face on Thursday. Abelson says that on Fri. the Bureau of Labor Statistics report on Oct. employment will show a job loss of 166,000 sharply lower than the previous month's 263,000 decline.

The current divisor for the Dow found at Saturday's page B4 of The Wall St. Jrnl is .132319125 unchanged where it is also noted that as of market close Friday the Dow's trailing P/E ratio is 16.74 down from Friday's 16.75 (year ago was nil), the P/E estimate is 15.68 down from yesterday's 16.03 (1 year ago it was 10.97), and the dividend yield is 2.88 up from Friday's 2.81 (a year ago it was 3.45).

Friday's Dow Jones Industrial Average closing numerator was 1285.18 down 33.06 from Thursday's closing Dow numerator of 1318.24. 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 33.06 for Friday by the divisor you get the decrease of 249.85 in Friday's Dow close.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $42.84 down $1.10 from Thursday's Dow Jones Industrial Average closing price of $43.94. The median closing price of Friday's Dow Jones Industrial Average was $38.31 down $2.09 from Thursday's Dow Jones median closing price of $40.40.

The lowest volume Friday was 3M MMM $73.57 -1.91 2.53% 4,441,052 NYSE and the highest volume again was Bank of Am BAC $14.58 -1.15 7.31% 303,096,826 NYSE.

If Friday morning before the market opened you had purchased $100 of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $3,300.
($131,820 - $128,520)

AT&T T $25.67 -0.56 2.13% 40,634,805 NYSE: BRN's p42 "A Comeback for Motorola"" by Mark Veverka says Motorola will introduce on Nov. 6 the Droid, a superslim device with a slide-out Qwerty keyboard, sold by Verizon Communications and will counter rival's AT&T's flourishing distribution of Apple's iPhone.

Alcoa AA $12.42 -0.58 4.46% 45,728,545 NYSE: Barron's pM6 charts Alcoa saying following the stronger than expected 3Q GDP figure, investors sought shares likely to benefit from an economic recovery.

BW p35 in an article by Michael Mandel says GDP is overstating the economy's strength by overlooking cuts in r&d. For example, Alcoa, in an effort to preserve cash, reduced its rd spending by 36% in the third quarter of '09 compared with a year earlier and United Technologies, Johnson & Johnson and Caterpillar also deeply cut their r&d.

American Express AXP $34.84 -1.60 4.39% 12,940,869 NYSE: No mentions found.

Bank of America BAC $14.58 -1.15 7.31% 303,096,826 NYSE: Barron's p24 "Northern Composure" by Dimitra DeFotis says Canadian banks don't make investors' pulses beat rapidly but they do look like solid bets. Canadian banks trade at an average of about 12 times estimated 2010 profits compared with 13.7 times for JPMorgan Chase, 19.9 for Bank of America and 72 for Citigroup.

Barron's pM6 charts BofA saying reports surfaced that the lender and gov disagree about is bailout repayment. The possibility of a big equity offering worried investors.

Corporate Counsel's cover has a photo of CEO Ken Lewis, with a bigger than usual scowl, and the story at p64 is "Was He Listening?" by Sue Reisginer which is best described by the editor's note that says the story illustrate some of the crucial issues surrounding in-house lawyers and their biz partners, and their responsibility toward shareholders and the public interest. The stories in the mainstream press about BofA are different from this story because it portrays the disagreements between CEO Ken Lewis and the other execs one one hand and their in-house lawyers led at the time by Tim Mayopoulos over how much to to tell the world about Merrill Lynch's mounting losses. Ultimately the lawyers' silence combined with their departures says that there needs to be changes made so similar situations don't happen again.

Corp. counsel p31 says BofA is having limited success in its efforts to stamp out questions about its acquisition of Merrill Lynch. It lists the lawyers involved and says Cleary Gottlieb represents BofA headed by Robin Bergen, Shawn Chen, Lewis Liman and Giovanni Prezioso.b

Boeing BA $47.8 -1.01 2.07% 8,610,433 NYSE: BW p46 "It's a Bird, It's a Plane, It's Pork!" by Ben Elgin, Keith Epstein says Boeing's C-17 cargo aircraft cost $250 mil a piece. The Pentagon says it has plenty. But it's nearly impossible for Obama to kill a project that provides jobs in 43 states.

Caterpillar CAT $55.06 -2.19 3.83% 11,906,442 NYSE: BW p35 in an article by Michael Mandel says GDP is overstating the economy's strength by overlooking cuts in r&d. For example, Alcoa, in an effort to preserve cash, reduced its rd spending by 36% in the third quarter of '09 compared with a year earlier and United Technologies, Johnson & Johnson and Caterpillar also deeply cut their r&d.

Chevron CVX $76.54 1.41 1.81% 19,335,340 NYSE: No mentions found.

Cisco CSCO $22.81 -0.71 3.02% 58,690,614 NASDAQ-GS: Barron's pM12 "A Novel Way to Play Cisco" by Seven M. Sears says Cisco is slated to report fiscal 1Q '10 earnings on Wed. Shares are up 41% year to date but seemed to have stalled recently rising just 4.7% in he past 3 months. Options trading patterns are mixed. Some investors see a modest bounce on earnings. A popular trade in recent sessions is buying Nov. $25 calls and selling Nov. $27.50 which is a bull spread.

BW p65 "Cisco Rides Again" by Gene Marcial says at the peak of tech fever in 2000, Cisco, the largest global provider of Web networking gear for transporting data, voice, and video, crested at 82 a share. After the bubble burst, Cisco stock drafted lower for almost a decade to 13.62 this March. Now its around 3 and some bulls believe the rebound will continue.
Cisco trades at 17 times the fiscal '10 ernings est. of $1.30 a share and has $25 bil cash net of debt.

Barron's p29 "Cover Story - Treading Carefully" by Jack Willoughby says the Big Money managers see more room for stocks to run, even if bargains are fewer. They are bullish on tech. The managers' favorite stocks have one thing in common, they generate mountains of cash such as Cisco and Microsoft.

Corporate Counsel p22 "Blogger Beware" by Joe Mullin says a former lawyer at Cisco Sysatems, Inc. got in trouble for a blog post in which he called the fed judicial district in East Texas a banana republic. Rick Frankel, the blogger, left Cisco in Aug '08 to go to Wilson Sonsini.

Forbes p38 "Giant Hunter" by Rebecca Buckman says F5 Networks makes appliances that smartly direct Internet traffic and is beating Cisco at it. F5, based in Seattle since '96, has gained a toehold in the market for networking gear that sluices traffic around the Internet in an efficient manner so Web sites load faster and crash less often. It outmanuevered Cisco in the $1 bil market for application delivery controllers. The controllers are pizza box size appliances loaded with software that directs Web traffic. One of these can cost from $18,000 to $100,000.

Coca-Cola KO $53.31 -0.78 1.44% 10,541,293 NYSE: Barron's p22 in an article about the Mexicn beverage giant, Femsa, by Christopher C. Williams says that Femsa could be a takeover taraget but that only SAB-Miller or Coca-Cola could afford the likely price - 54 to 70 a share.

Disney DIS $27.37 -0.77 2.74% 12,704,394 NYSE: BW p50 "Disney Remakes The Movie Studio" by Ronald Grove ells how CEO Robert A. Iger is applying the company's brand marketing savvy to filmmmaking. He is shaking up personnel. He is building a stable of brands, each with its own strong identity and core group of customers. He is bringing in a handful of marquee names such as Steven Spielberg, animation giant Pixar and Marvel Entertainment.

Barron's p26 "Google Searches for Another Winner" by Mark Veverka says a fascinating new book, Googled, The End of the World as We Know It" should soothe investor worries about the search giant's immediate prospects. Former Viacom Pres. Mel Karmazin and Disney CEO Robert Iger describe how Google has diminished their businesses by exposing the inefficiency of traditional advertising and threatening to remove middlemen.

BW p13 "Facetime with Jeffrey Katzenberg by Maria Bartiromo mentions his famous falling out with then Dis CEO Michael Eisner and court settlement and talks about how his Dreamworks competes with Disney.

DuPont DD $31.82 -1.15 3.49% 10,300,450 NYSE: NYT p5 "Everybody In the Pool Of Green Innovation" by Mary Tripsas says companies are sharing environmentally friendly innovations. The include an IBM method to clean semiconductor wafers and a DuPont process that uses microorganisms to identify pollutants. Others are water based shoe adhesives from Nike and a packing insert from IBM.

Exxon Mobil XOM $71.67 -2.29 3.1% 31,338,416 NYSE: Barron's pM6 charts Exxon Mobil saying it reported a sharper than expected 68% drop in 3Q earnings as rev fell precipitously on lower commodity prices.

GE $14.26 -0.61 4.1% 128,128,557 NYSE: Barron's p29 "Cover Story - Treading Carefully" by Jack Willoughby says the Big Money managers see more room for stocks to run, even if bargains are fewer. He says GE is a top pick because it trades at about 14 but based on the sum of the parts valuation it could be worth as much as 25. At the height of the credit crisis, amid concerns about its financial health, GE sold for under 6 a share.

Corporate Counsel p15 by David Hechler "The Comeback Company" by David Hechler says the bribery scandal that hit the giant Munich based electronics and industrial engineering firm, Siemens, is the biggest one in memory as Siemens faces enforcement action in US & Germany. Peter Solmssen, Siemen's general counsel and acting CEO since Sept. of its US division is currently trying to negotiate a collective action with ABB Ltd, Alstom and GE, its competitors in the global power generation industry. A similar effort among the same group collapsed 6 years ago and Siemens's reputation was a major reason. The purpose of the collective action is to come up with reforms before the regulators force them to take more strict actions. Somssen had formerly been a top inh-house lawyer at GE.

Forbes p50 "Riches in Enrichment" says GE is tyring to blast into the biz of making nuclear reactor fuel with lasers. GE builds new nuclear plans, fixes broken ones and makes old ones generate more power. It packages reactor fuel into bundles for nuke operators. Ge ha snow decided it wants in to the biz of enriching uranium into nuclear fuel. It is using an unproved but potentially disruptive technology that is highly classified and uses lasers to extract fissile uranium more cheaply and efficiently than methods used today. There are 53 news nuclear plants under construction worldwide mostly in Asia and none in the US. Enrichment yields $7 bil a year cost of it shared among Russia's Techsnabexport, Britain's Urenco, France's Areva and the US Enrichment Corp., a division of USEC which operates a big gaseous diffusion plant in Kentucky. GE believes that enrichment can help it win larger reactor construction deals in developing countries where govs tend to favor vendors that can do it all. GE acquired rights to its laser enrichment technology in '06 from the Australian firm that invented it. The Nuclear Regulatory Commission is reviewing GE's application to build a plant. A decision is expected in early 2012 and construction would take 2 years.

Hewlett-Packard HPQ $47.46 -0.89 1.84% 16,342,611 NYSE: Barron's pM3 "A Brutal Ending for a Bitter Month" by Kopin Tan discusses the recently profitable SRS, a Santa Ana, Calif company that is just stating to reap the benefit of licenses inked years ago as newer tvs, computers and mobile phones featuring its audio technology in stores. Its customers include Hewlett-Packard, Samsung, and Dell.

Home Depot HD $25.09 -0.82 3.16% 19,108,101 NYSE: AJC pd1 "How to woo wary buyers" by Rachel Tobin Ramos says stores are setting strategy amid forecasts of a little less retail cheer this spending which is estimated to me down 1% from last year. Home Depot ordered about the same amount of Xmas season inventory as last year.

Intel INTC $19.11 -0.11 0.57% 89,931,251 NASDAQ-GS: Forbes p37 "A Crystal Ball For Windows 8" by Lee Gomes asks what in Windows 7 will Microsoft be fixing when it releases Windows 8 in 2011 or 2012? One Windows 7 problemt hat MSFT will need to fix is is price. Most Windows 7 uses will get it at no obvious cost when they buy a new computer. Upgrades from earlier versions of Windows cost between $120 and $220. Contrast that with the $30 that Apple is charging for an upgrade to the latest version of its Macintosh operating system, Snow Leopard or the zero dollars that Google will charge for the Linux variant it plans on pushing in coming months. Intel has a similar operating system story with its Moblin product, which it is pushing for low-power, low-cost netbooks.

IBM $120.61 -2.26 1.84% 7,468,911 NYSE: Barron's p41 "Even as the Recession Ends, Sales Slump at Tech Firms" by Eric J. Savits says while clearly SAP, the German enterprise software giant, cu its full year rev guidance and its drop in revenues were consistent with the recent grim tidings from IBM whose rev was down 7% in 3Q versus a year ago.

Forbes p32 "A Zure Thing?" by Quentin Hardy says Microsoft thinks it can sell big companies on its new cloud computing program, Azure. Microsoft has $500 million of thousands of servers in 162 sealed cargo containers in a 700,000 square building near Chicago. All these computers will run on a single operating system called Azure that will let big firms run applications like email and house data at various Microsoft centers such as the one near Chicago. Azure is MSFT's main play in the biggest contest in tech, called cloud computing, wherein data storage and computation take place many miles from customers' desks. The idea is to cut the cost of the labor, hardware and energy that go into data processing and to make files accessible to workers who move around a lot. MSFT says costs will be reduced between 30 to 90%. IBM aims to fly big corporations into the cloud. It just announced online email and storage and it also selling consulting services to help companies make their existing computer systems more cloudlike. Its Internet operating system will open for biz next year. It will not need outsiders to write apps, one third of its 390,000 employees are involved in software. Azure's debt is a critical step for Raymond Ozzie, Bill Gates' replacement as chief software architect at MSFT. With MMSFT's stock down 50% over the past 10 years MSFT needs Azure.

NYT p5 "Everybody In the Pool Of Green Innovation" by Mary Tripsas says companies are sharing environmentally friendly innovations. The include an IBM method to clean semiconductor wafers and a DuPont process that uses microorganisms to identify pollutants. Others are water based shoe adhesives from Nike and a packing insert from IBM.

J.P. Morgan Chase JPM $41.77 -2.58 5.82% 56,824,000 NYSE: Time "What' Still Wrong with Wall Street" by Allan Sloan saypaying $25 or $30 mil bonuses to execs at JPMorgan Chase or Goldman Sachs is obscene because none of these firms would exist if our gov and others hadn't stepped into save the world financial system.

BW p71 a review of books by Adrienne Carer discusses some books about JPMorgan and Jamie Dimon, is CEO, "Last man Standing, "how Markets Faily, and "Too Big To Fail."

Johnson & Johnson JNJ $59.05 -0.81 1.35% 20,502,496 NYSE: BW p35 in an article by Michael Mandel says GDP is overstating the economy's strength by overlooking cuts in r&d. For example, Alcoa, in an effort to preserve cash, reduced its rd spending by 36% in the third quarter of '09 compared with a year earlier and United Technologies, Johnson & Johnson and Caterpillar also deeply cut their r&d.

Kraft KFT $27.52 -0.03 0.11% 16,662,555 NYSE: Barron's p19 "Review & Preview" says Kraft Foods reports earnings on Tues., Nov. 3.

McDonald's MCD $58.61 -0.53 0.9% 9,648,162 NYSE: CEO p58 "Roundtable - Rebulding Trust in the CEO' by Jennifer Pellet photo has McDonald's CEO Jim Skinner holding forth on how business leaders can revive stakeholder confidence. It says Skinner took the helm after two of his predecessors died within a 9 month frame. At page 67 of CEO it has a photo shoot of the ceremony at the NYSE in July when 200 CEOs honored Jim Skinner who was named CEO's 2009 Chief Executive of the Year. Skinner is the 25th CEO o receive the award which has also been bestowed upon Jack Welch, Andy Grove and Bill Gates.

Merck MRK $30.93 -0.38 1.21% 38,398,628 NYSE: Forbes p132 "Living Without Blocbusters" by Matthew Herper says Christopher Viehbacher,the chief of drugmaker Sanofi-Aventis, is slashing research spending and moving into emerging countries. It is a French firm and is the world's 4th biggest druggmaker. Sanofi's sales are climbing 13% a year in places like China, Latin America and India, which are just developing their taste for Western medicines. Sanofi already has a sizable presence in many of these markets, unlike Pfizer and Merck. The biggest drgumakers in 7 emerging markets including China, Russia, Mexico and Turkey are Sanofi-Aventis followed by Novartis, Pfizer, Glaxosmithkline & Astrazeneca.

Microsoft MSFT $27.73 -0.49 1.74% 70,068,128 NASDAQ-GS: Barron's p18 "Review & Preview" says Barron's Roundtable members like 24 stocks including Microsoft.

Barron's p29 "Cover Story - Treading Carefully" by Jack Willoughby says the Big Money managers see more room for stocks to run, even if bargains are fewer. They are bullish on tech. The managers' favorite stocks have one thing in common, they generate mountains of cash such as Cisco and Microsoft. The top pick is Microsoft which has rallied nicely since March and substantial gains could lie ahead as the software titan embarks on a new product upgrade cycle, headlined by he launch of the Windows 7 operating system, which has garnered glowing reviews. MSFT trades for 15.5 times the $1.79 it is expected to earn in the fiscal year ending next June. Back out its nearly $4 a share in cash, and its price/earnings multiple is only 13. Microsoft returns cash to shareholders via a 52 cent annual dividend and yields 1.8%.

BW p73 "Touch Moves to the Big Screen" by Sephen H. Wildstrom says Windows 7 is enabling PC makers to incorporae iPHone-inspired touch features.

BW p30 "Don't Touch That Dial" by Burt Helm, Ronald Grover says Microsoft advertised its Windows & operating system and its new search engine, bing but having tv networks using their actors from hit shows who appear in character and use MSFT's products.

BW p55 a story by lBruce Einhorn about Taiwan's HTC says HTC is making a splash with its Android handsets, but ties with Microsoft are a drag on profits because phones that run Windows have a reputation for being chunkier than Apple's iPhone, the BlackBerry or handsets that use Android. Owing largely to the drag from Windows Mobile, the company will see a 20L% drop in '09 earnings.

Forbes p32 "A Zure Thing?" by Quentin Hardy says Microsoft thinks it can sell big companies on its new cloud computing program, Azure. Microsoft has $500 million of thousands of servers in 162 sealed cargo containers in a 700,000 square building near Chicago. All these computers will run on a single operating system called Azure that will let big firms run applications like email and house data at various Microsoft centers such as the one near Chicago. Azure is MSFT's main play in the biggest contest in tech, called cloud computing, wherein data storage and computation take place many miles from customers' desks. The idea is to cut the cost of the labor, hardware and energy that go into data processing and to make files accessible to workers who move around a lot. MSFT says costs will be reduced between 30 to 90%. IBm aims to fly big corporations into the cloud. It just announced online email and storage and it also selling consulting services to help companies make their existing computer systems more cloudlike. Its Internet operating system will open for biz next year. It will not need outsiders to write apps, one third of its 390,000 employees are involved in software. Azure's debt is a critical step for Raymond Ozzie, Bill Gates' replacement as chief software architect at MSFT. With MMSFT's stock down 50% over the past 10 years MSFT needs Azure.

Forbes p37 "A Crystal Ball For Windows 8" by Lee Gomes asks what in Windows 7 will Microsoft be fixing when it releases Windows 8 in 2011 or 2012? One Windows 7 problem that MSFT will need to fix is is price. Most Windows 7 uses will get it at no obvious cost when they buy a new computer. Upgrades from earlier versions of Windows cost between $120 and $220. Contrast that with the $30 that Apple is charging for an upgrade to the latest version of its Macintosh operating system, Snow Leopard or the zero dollars that Google will charge for the Linux variant it plans on pushing in coming months. Intel has a similar operating system story with its Moblin product, which it is pushing for low-power, low-cost netbooks.

Pfizer PFE $17.03 -0.52 2.96% 64,136,185 NYSE: Corp Counsel p35 discusses the Kano Sate v Pfizer case in which on 7/30/09 Pfizer agreed to pay a Nigerian state $75 mil to settle claims on behalf of dozens of children allegedly injured or killed during a clinical trial of a then-experimental drug, Trovan. It lists Pfizer's lawyers that included lawyers from Williams & Connolly, Kaye Scholer, Skkkadden, Arps, Quinn Emanuel and in-house GC Bradley Lerman.

Forbes p132 "Living Without Blocbusters" by Matthew Herper says Christopher Viehbacher,the chief of drugmaker Sanofi-Aventis, is slashing research spending and moving into emerging countries. It is a French firm and is the world's 4th biggest drugmaker. Sanofi's sales are climbing 13% a year in places like China, Latin America and India, which are just developing their taste for Western medicines. Sanofi already has a sizable presence in many of these markets, unlike Pfizer and Merck. The biggest drugmakers in 7 emerging markets including China, Russia, Mexico and Turkey are Sanofi-Aventis followed by Novartis, Pfizer, Glaxosmithkline & Astrazeneca.

Procter & Gamble PG $58 1.54 -2.59% 20,806,433 NYSE: Barron's p20 "Follow-Up" says Colgate Palmolive operations sparkled in the third quarter with operating earnings rising 11% and rev climbing 7%. Colgate has climbed 28% to a recent 79.55 during the past year. That's far better than the performance turned in by fellow household products giant Procter & Gamble whose stock fell almost 7% in the same period.

3M MMM $73.57 -1.91 2.53% 4,441,052 NYSE: No mentions found.

Travelers TRV $49.79 -2.12 4.08% 8,448,998 NYSE: No mentions found.

United Technology UTX $61.45 -2.13 3.35% 7,806,407 NYSE: No mentions found.

Verizon VZ $29.59 -0.45 1.5% 24,037,315 NYSE: BRN's p42 "A Comeback for Motorola"" by Mark Veverka says Motorola will introduce on Nov. 6 the Droid, a superslim device with a slide-out Qwerty keboard, sold by Verizon Communications and will counter rival's AT&T's flourishing distribution of Apple's iPhone.

BW p27 "Verizon Mobilizes Against the iPhone" by Spencer E. Ane says to stay ahead of AT&T and Apple, VZ is placing a big bet on Android smartphones and other new gadgets.

Wal-Mart WMT $49.68 -0.72 1.43% 17,244,801 NYSE: No mentions found.
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Here are the CEOs of the Dow 30 Companies:

T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis (on 10/1 he announced his resignation as of year-end).
BA W. James McNerney, Jr.
CAT James W. Owens who will be replaced by Douglas Oberhelman in 2010.
CVX David O'Reilly who will be replaced by John Watson at year end.
CSCO John Chambers
KO Muhtar Kent
DIS Robert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of
10/28/09:
1. Exxon Mobil XOM $355
2. Microsoft MSFT 250
3. WalMart WMT 192
4. JPMorgan Chase 168
5. Procter & Gamble PG 167
6. Johnson & Johnson JNJ 164
7. IBM 159
8. At&t T 154
9. GE 153
10. Chevron CVX 152
11. Cisco CSCO 133
12. BAC 130
13. Coke KO 124
14. Pfizer PFE 116
15. Hewlett-Packard HPQ 111
16. Intel INTC 107
17. Verizon VZ 85
18. Merck MRK 68
19. McDonald's MCD 64
20. United Technologies UTX 59
21. 3M MMM 52
22. Disney DIS 51
23. Home Depot 43
24. American Express AXP 41
25. Kraft KFT 40
26. Boeing BA 34
27. Caterpillar CAT 34
28. DuPont DD 29
29. Travelers TRV 28
30. Alcoa AA 12

Here are the latest SEC filings as of 10/12/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

T AT&T: 10/2/09 11K Annual Report of employee stock purchase plan.

8/28/09 two 8K's, one announcing it had reached agreement with the Communications Workers of America (on a new, three-year contract covering approximately 7,000 wireline employees (located across the U.S.) under the CWA Communications and Technologies contract, subject to approval by these employees. The second 8K said two subsidiaries of AT&T redeemed certain long-term debt issues as of September 28, 2009.

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

7/29/09 8K announcing that Alain J. P. Belda, executive Chairman of the Board of Directors of AA retired as an executive officer but is staying on as a director until April 23, 2010.

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

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

9/2/09 10Q;

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

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

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

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

8/31/09 8K announcing the retirement of Scott E. Carson, Executive Vice President, President and Chief Executive Officer, Boeing Commercial Airplanes, effective January 1, 2010. Effective September 1, 2009, Mr. Carson will leave his current position and assume the role of Executive Vice President. Carson will be replaced by James F. Albaugh.

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

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

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

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

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

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

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

8/6/09 10Q

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

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

9/11/09 10K.

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

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

Coke KO: 7/30/09 10Q

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

8/31/09 8K announcing a merger between its subsidiary, Maverick Acquisition Sub, Inc., and its subsidiary, Maverick Merger Sub, LLC, a single member Delaware limited liability company and Marvel Entertainment, Inc.. As a result of the Merger, Marvel will become a wholly owned subsidiary of Disney. Each share of Marvel common stock will be converted into $30 in cash and 0.7452 shares of Disney common stock.

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

9/29/09 and 8/13/09 8Ks announcing Nicholas C. Fanandakis, age 53, Senior Vice President & Chief Financial Officer effective September 1, 2009 with an increase in annual salary from $387,708 to $500,000 and target short-term incentive award for 2009 will increase from $328,500 to $464,100. Mr. Fanandakis was named to his current position, Group Vice President- Applied BioSciences, in January 2008. Prior to that, he was vice president and general manager- DuPont Chemical Solutions Enterprise from September 2003 through September 2006 and vice president- Corporate Plans from October 2006 through December 2007. Jeffrey L. Keefer, EVP and Chief Financial Officer, will remain EVP and transition from the position of Chief Financial Officer to assume leadership responsibility for the DD's Performance Coatings business, corporate strategy development, Information Technology and overall cost and working capital productivity efforts effective November 1, 2009. Richard R. Goodmanson, EVP and Chief Operating Officer will retire effective September 30, 2009.

ExxonMobil XOM: 8/5/09 10Q

GE: 8/4/09 8K GE reached a settlement with the SEC & consented to a judgment of a fine of $50 million relating to four accounting matters arising in 2002 - 2003: the application of SFAS 133 to GE’s since-discontinued commercial paper hedging program and, separately, to certain swap derivatives where fees were paid or received at inception; a change in accounting for profits on spare parts in the commercial aviation engine business; and certain year-end transactions in the rail business.

Hewlett-Packard HPQ: 9/24/09 8K saying at its Securities Analyst Meeting, HPQ addressed how it is uniquely positioned to grow and expand in the global information technology market. “We expect the IT industry to return to growth in 2010 and believe that HP will outpace the market,” said Mark Hurd, CEO.

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

9/8/09 10-QA

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

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

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

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

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

7/28/09 10Q

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

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

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

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

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

8/5/09 10Q

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

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

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

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

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

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

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

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

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

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

9/2/09 8K announcing an agreement with the U.S. Department of Justice to settle an investigation regarding off-label promotional practices related to Bextra, which Pfizer withdrew from the market in 2005 and other DOJ investigations involving off-label promotional practices concerning Zyvox, Geodon and Lyrica, and allegations related to payments to healthcare professionals involving these and nine other Pfizer medicines. Pfizer previously disclosed a related $2.3 billion charge to its fourth-quarter and full-year 2008 earnings in connection with the DOJ agreement in principle on January 26, 2009. PFE has reached agreements with attorneys general in 432 states to settle state civil consumer protection allegations regarding promotional practices concerning Geodon. PFE will pay a total of $33 million to the settling states.

Procter & Gamble PG: 11K Annual Report of Employee Stock Purchase Plan.

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

8/28/09 S-8 Securities to employees and 8/28 8K annoucning public offering of $500,000,000 aggregate principal amount of 3.150% Notes due 2015.
Also a PG subsidiary, Procter & Gamble International Funding SCA issued $1,000,000,000 aggregate principal amount of 1.350% Notes due 2011.

3M MMM: 8/5/09 3M contributed 8,329,862 shares of its common stock with a corresponding dollar value of approximately $600 million to its defined benefit pension plan, the 3M Employee Retirement Income Plan, made from treasury stock.

Travelers TRV: 8/5/09 10Q/A Amended 10Q

United Technologies UTX: 7/24/09 10Q

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

9/4/09 8K VZ raised its quarterly dividend 3.3% to 47.5 Cents per Share. This is the third consecutive year that VZ has approved a quarterly dividend increase in September.

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

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

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

9/9/09 10Q

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