11/16/09 Mon. am JPMorgan Close to Buying UK Broker Cazenove for $1.67 bil

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Post #213 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 11/6/09 and an update of the Dow 30's most recent SEC filings as of 11/9/09.

A read of Monday's 1/16/09 print editions of: Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution, & Daily Report (Georgia) 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 Monday at 10406.96 up 136.49 or 1.33% from Friday's close of 10,270.47. Of the 30 Dow Companies: 4 declined) and 26 gained. The biggest gainer dollar-wise was ExxonMobil XOM $74.43 +1.96 2.7% 21,329,248 NYSE and percentage-wise was Boeing BA $52.48 +1.80 3.55% 5,704,942 NYSE. The biggest decliner dollar-wise and percentage-wise was Travelers TRV $52.94 -0.34 0.64% 4,513,526 NYSE.



Monday's Dow Jones Industrial Average closing numerator was 1377.04 up 18.06 from Friday's closing Dow numerator of 1358.98. 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 18.06 for Monday by the divisor you get the increase in Monday's Dow close of 136.49.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 45.90 up 0.60 from Friday's Dow Jones Industrial Average closing price of $45.30. The median closing price of Monday's Dow Jones Industrial Average was $42.24 up 0.70 from Friday's Dow Jones median closing price of $41.54. The lowest volume Monday was 3M MMM $78.02 +0.70 0.91% 2,994,456 NYSE and the highest volume again was Bank of Am BAC $15.87 -0.11 0.69% 154,182,711 NYSE.

If Monday morning before the market opened you had purchased $100 of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $1,800.
($137,700 - $135,900)

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

AT&T T $26.29 +0.04 0.15% 23,569,914 NYSE:

Alcoa AA $13.61 +0.43 3.26% 23,195,269 NYSE:

American Express AXP $41.44 +1.09 2.7% 20,280,975 NYSE:

Bank of America BAC $15.87 -0.11 0.69% 154,182,711 NYSE:

Boeing BA $52.48 +1.80 3.55% 5,704,942 NYSE:

Caterpillar CAT $60.4 +1.62 2.76% 8,334,502 NYSE:

Chevron CVX $78.61 +0.67 0.86% 8,954,369 NYSE:

Cisco CSCO $23.87 +0.16 0.67% 47,598,135 NASDAQ-GS:

Coca-Cola KO $56.74 +0.28 0.5% 8,119,838 NYSE:

Disney DIS $30.7 +0.26 0.85% 12,891,133 NYSE:

DuPont DD $34.94 +0.63 1.84% 6,350,396 NYSE:

ExxonMobil XOM $74.43 +1.96 2.7% 21,329,248 NYSE:

GE $16 +.34 2.17% 98,247,874 NYSE:

Hewlett-Packard HPQ $50.81+ 0.90 1.8% 20,621,054 NYSE:

Home Depot HD $27.65 +0.31 1.13% 18,792,481 NYSE:

Intel INTC $20.23 +0.41 2.07% 64,782,202 NASDAQ-GS:

IBM $128.21 +1.18 0.93% 7,975,416 NYSE:

J.P.Morgan Chase JPM $43.04 +0.14 0.33% 43,535,612 NYSE:

Johnson & Johnson JNJ $62.19 +0.76 1.24% 13,768,148 NYSE:

Kraft KFT $27.63 +0.72 2.68% 17,474,080 NYSE:

McDonald's MCD $64.53 +0.95 1.49% 12,110,334 NYSE:

Merck MRK $33.81 +0.71 2.15% 25,097,484 NYSE:

Microsoft MSFT $29.54 -0.09 0.3% 54,129,501 NASDAQ-GS:

Pfizer PFE $17.94 +0.35 1.99% 42,033,170 NYSE:

Procter & Gamble PG $62.27 +0.66 1.07% 12,542,125 NYSE:

3M MMM $78.02 +0.70 0.91% 2,994,456 NYSE:

Travelers TRV $52.94 -0.34 0.64% 4,513,526 NYSE:

United Technologies UTX $69.34 +1.35 1.99% 5,373,022 NYSE:

Verizon VZ $30.33 +0.20 0.66% 13,161,737 NYSE:

Walmart WMT $53.16 -0.04 0.08% 15,356,892 NYSE:

AT&T T $26.2883 -0.0017 0.01% 17,817,856 NYSE: No mentions found.

Alcoa AA $13.16 -0.04 0.3% 16,587,706 NYSE: No mentions found.

American Express AXP $40.31 0.81 +2.05% 14,433,975 NYSE: No mentions found.

Bank of America BAC $15.98 -0.08 0.5% 117,843,375 NYSE: No mentions found.

Boeing BA $50.71 +0.43 0.86% 3,304,391 NYSE: Fin Times p20 "Boeing takes defiant stance over delays to Dreamliner" by Pilita Clark says the first test flight of Boeing's much delayed Dreamliner 787aircraft is still on track for the end of the year but will not be driven by deadlines, the new head of boeing's comercial aircraft division, Jim Albaugh, said yesterday. 70 of boeing's 111 cancellations this year were for the 787 and some custoemrs such as Oman Air, have warned they would look at going to Airbus if there are further delays. Albaugh recently replaced Scott Carson.

WSJ B9 "Airbus, Boeing Strike Upbeat Tone at Show" by Stefania Blanchi, Nour Malas, Alex Delmar-Morgan says the world's top 2 civil aircraft makers said Sun. at the air show in Dubai that their market had hit bottom and would start to improve. Air bus's coo for customers, John Leahy sad people aren't cancelling or delaying orders. Airbus, a unit of European Aeronautic Defense & Sapce anounced a deal with Ethiopian Airlines for 12 A350 XWB aircraft. the airline has historically been loyal to Boeing. Andy Tinseth, Boeing commercial airplane marketing vp said in '10 you should see a ocntinued incrase in traffic, in '11 arilines will return to profitability and '12 there will be a demand for new aircraft.

WSJ pB3 "GE Agrees to Supply China Aircraft Industry" by Norihiko Shirouzu says GE made a big risky bet Sun on China's aerospace industry as it struck an agreement with leading Chinese aircraft firm Aviation Industry Corp. of China to jointly supply avionics systems for jetliner makers globally. GE in angling to grab business for a planned aricraft China hopes will compete with jets from Boeing and European Aeronautic Defense & Space Co.'s Airbus. At the heart of GE's decision is the growth in China's appetitie for planes, but GE is also betting a China made jetliner could eventually challenge Boeing and Aribus outside china. GE and AVIC agreed to a 50/50 jv in China that would be GE's main platform to develp avionics systems for gloabl commercial aircraft makers.

Catepillar CAT $58.72 +0.15 0.26% 6,043,374 NYSE: Fin Tim p17 "Caterpillar warns on OTC curb" by Hal Weitzman says US manufacturers could be hampered from creating jobs and contributing to the economic recovery if Congress presses ahead with plans to curb the use of over the counter derivatives, Caterpillar has warned. CAT is the world's biggest maker of earth moving equipment and a bellwether of the US economy. CAT has a concern that industry could suffer from lawmakers' efforts to reform the oversight of OTC derivatives. A draft bill to reform US financial regulation presented last week by Chirs Dodd, chair of the Senate banking committee would introduce tougher capital rules on institutions using OTC contracts, including many industrial companies that trade the contracts to protect themselves from volatility in commodity prices, exchange rates and interest rates.

Chevron CVX $77.9 +0.48 0.62% 7,050,329 NYSE: No mentions found.

Cisco CSCO $23.71 +0.31 1.32% 35,223,676 NASDAQ-GS: No mentions found.

Coca-Cola KO $56.52 +0.58 1.04% 7,127,122 NYSE: No mentions found.

Disney DIS $30.47 +1.42 4.89% 26,972,933 NYSE: No mentions found.

DuPont DD $34.32 +0.45 1.33% 5,781,990 NYSE: No mentions found.

ExxonMobil XOM $72.525 +0.625 0.87% 12,522,621 NYSE: No mentions found.

GE $15.65 -0.10 0.63% 61,492,766 NYSE: WSJ pA1 "GE Pursues Pot of Government Stimulus Gold" by Elizabeth Williamson, Paul Glader says the financial crisis hasn't been kind to Ge. Its stock has lost almost half its value, the gov has stepped into prop up its enormous financial arm, and sales have slumped in core industrial businesses. But CEO Jeffrey Imelt now has his eye on a huge new pool of potential revenue: US stimulus dollars. Immelt, a Republication, quips about the shift in thinking in the nation's corner offices: "We're all Democrats now." GE says over the next 3 years it coudl bring in as much as $192 bil from projects funded by govs around the globe, such as electrici grid modernization, renewable energy generation and health care tech upgrades.

WSJ pB3 "GE Agrees to Supply China Aircraft Industry" by Norihiko Shirouzu says GE made a big risky bet Sun on China's aerospace industry as it struck an agreement with leading Chinese aircraft firm Aviation Industry Corp. of China to jointly supply avionics systems for jetliner makers globally. GE is angling to grab business for a planned aricraft China hopes will compete with jets from Boeing and European Aeronautic Defense & Space Co.'s Airbus. At the heart of GE's decision is the growth in China's appetitie for planes, but GE is also betting a China made jetliner could eventually challenge Boeing and Aribus outside china. GE and AVIC agreed to a 50/50 jv in China that would be GE's main platform to develp avionics systems for gloabl commercial aircraft makers.

WSJ pB4 "Comcast-NBC Deal Would Draw Lengthy Scrutiny in Washington" by Shira Ovide, Amy Schatz says Comcast has courted NBC Universal for months, but the fimrs would need to take a long detour to Washington before they make it to the altar. If Comcast agrees to purchase majority control of the movie and tv company from GE, the Obama admin. would face its first media megadeal. Regulatory approval is expected to take from 6 months to mroe than a year. The gov is unlikely to deraiil the tie-up but regulators would likely impose restrctions to mitigate potential harm to rivals and consumers. The deal could be announced this week.

WSJ pB4 "Two-Way Communications" by Suzanne Vranica, Sam Schechner says as Comcast gets close to its deal for control of GE's NBC Universal, Comcast and madison Ave. think the merger could lead to some major changes in the $65 bil US tv advertising market. The new company could speed the development of interactive TV ads and addressable advertising. Interactive ads let viewers vote in a poll or use their remote contols to request more info about a product. Adressable, or targeted, advertising uses set-top boxes to route commercials to specific households or neighborhood based on data about income, ethnicity or other factors.

WSJ pC6 "Overheard" says GE has been trying to keep the talks with Comcast secret regarding the sale of NBCU to Comcast but a stream of links has revealed a lot about the deal.

Hewlett-Packard HPQ $49.93 +0.23 0.46% 12,926,867 NYSE: No mentions found.

Home Depot HD $27.34 +0.10 0.37% 13,247,462 NYSE: Fin times p24 & NYT pB3 says Home Depot will report earnings on Monday.

Intel INTC $19.82 +0.14 0.71% 42,927,122 NASDAQ-GS: NYT pB4 "Intel's Reader Aimed at Health" says Intel's push into the health care arena has the firm going into some unusual palces. Last Tues, Intel unveiled the Intel Reader, a handheld device for people who struggle to read standard texts because of conditions like dyslexia and blindness. The device can scan books and otehr printed material, turn the text into a digital form and read it aloud. It costs $1,500.

Fin Times p10 "Oracle v Brussels" editorial says the mere possibility that a $7.4 bil tech merger in Cal might be blocked by regulators nearly half the world away over a fly speck fo a business shows how odd the dispute over Oracle's propsoed acquition of Sun Microsystems has become. At the center of the dispute is an open source software unit of Sun that has annual revs of only $70 mil but regulators say Oracle's assumption of the MySQL software could thwart competition for its own, far larger database business. Since the row that followed Europe's blocking of GE's proposed acquisition for Honeywell 8 years ago, regulators in the US and Europe have aligned their work on merger approvals more closely. In other areas, however, Washington's decision to soft pedal on antitrust isseus during the Bush years meant that regulators elsewhere were left to take up important battles. Most notable have been the actions in Europe and Asia agaisnt Microsoft and Intel.

IBM $127.08 +0.82 0.65% 4,504,453 NYSE: No mentions found.

J.P.Morgan Chase JPM $42.77 -0.53 1.22% 33,337,720 NYSE: Fin Times p17 "JPorgan clsoe to capturing Cazenove" by Sharlene Goff, Megan Murphy and WSJ pC3 "M.P. Morgan Nears a Deal to Buy the Rest of Cazenove" by Dana Cimilluca, Sara Schaefer Munoz says JPMorgan Chase is closing in on a deal to buy out its UK jv partner, the venerable broker Cazenove Group for a little less than $1.67 bil. JPMorgan wold buy the 50% of the investment banking partnership it doesn't own. The deal hasn't been approved by each side's necessary boards and committees. JPMorgan bought a 50% stake in the venture with Cazenove in '04. Cazenove was founded in 1819and is one of London's leading stockbrokers and is the Queen's broker.

Johnson & Johnson JNJ $61.48 +0.33 0.54% 9,056,411 NYSE: No mentions found.

Kraft KFT $26.92 +0.08 0.3% 6,528,366 NYSE: No mentions found.

McDonald's MCD $63.59 +1.42 2.28% 8,839,331 NYSE: USA Today p5b "McDkonald's talent contest goes social" by Edward C. Baig says McDonald's is serving up a social-media program around its annual employee talent contest. Its third annual Voice of McDonald's singing competition, being promoted on Facebook, Twitter, MySpace, YouTube, Bebo and other social media tools is in search of the next potential pop star among MCD's 1.6 million employees worldwide.

Merck MRK $33.11 +0.13 0.39% 13,330,041 NYSE: NYT pB3 says today results will be presented from a clinical trial comparing the cholesterol drugs Zetia from Merck and Niaspan from Abbot Labs.

Microsoft MSFT $29.63 +0.27 0.92% 52,305,193 NASDAQ-GS: Fin Times "Zune to launch outside US" by Tim Bradshaw says Microsoft is launchign its Zune entertainment brand outside the US for the first time, attempting to reinvigorate the music and movies service after failing to achieve its initial goals for the iPond rival.

Fin Times p10 "Oracle v Brussels" editorial says the mere possibility that a $7.4 bil tech merger in Cal might be blocked by regulators nearly half the world away over a fly speck fo a business shows how odd the dispute over Oracle's propsoed acquition of Sun Microsystems has become. At the center of the dispute is an open source software unit of Sun that has annual revs of only $70 mil but regulators say Oracle's assumption of the MySQL software could thwart competition for its own, far larger database business. Since the row that followed Europe's blocking of GE's proposed acquisition for Honeywell 8 years ago, regulators in the US and Europe have aligned their work on merger approvals more closely. In other areas, however, Washington's decision to soft pedal on antitrust isseus during the Bush years meant that regulators elsewhere were left to take up important battles. Most notable have been the actions in Europe and Asia agaisnt Microsoft and Intel.

Pfizer PFE $17.62 unch unch 33,475,491 NYSE: No mentions found.

Prcoter & Gamble PG $61.62 +0.32 0.52% 10,715,898 NYSE: No mentions found.

3M MMM $77.32 +0.11 0.14% 2,209,896 NYSE: WSJ pR6 "Don't Be Dumb About Smart Phones" by Roger Cheng says 3M Co. makes a think film called the Mobile Privacy Filter that goes over your screen, making it tough to see what's displayed unless you're directly in front of the phone. It sells for $10.

Travelers TRV $53.3 +0.16 0.3% 3,259,920 NYSE: No mentions found.

United Technologies UTX $68.06 +1.36 2.04% 4,606,545 NYSE: No mentions found.

Verizon VZ $30.1299 -0.0301 0.1% 11,078,081 NYSE: No mentions found.

Wal-Mart WMT $53.27 +0.03 0.06% 16,885,593 NYSE: WSJ pC1 "Earnings Are Strong, Sales Are Another Story" by Tom auricella says a record number of US companies beat earnings expectations in the 3Q, but a big portion of their profits came from cost-cutting, disappointing investors who were hoping for boosts in revenue. earnings news last week from WalMart encapsulated the good news-bad news tenor of the quarter. WMT which has benefited from bargain hunting, topped expectations with record earnings but increased productivity and inventory management drove earnings. It was seeing onging deeflation across its businesses and wMT is wary. Sales are expected to be flat in the 4Q from a year ago as custoemrs may be more cautious in their holiday spending.
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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
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.