11/19/09 Thurs. pm Dow closes 10332.44 down 93.87 or 0.9%

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Post #220 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 Thursday at 10332.44 down 93.87 or 0.09% from Wednesday's close of 10,426.31. Of the 30 Dow Companies: 26 declined and 4 gained. The biggest gainer dollar-wise was Coca-Cola KO $56.88 +0.30 0.53% 9,077,169 NYSE and percentage-wise was Merck MRK $35.33 +0.19 0.54% 23,990,737 NYSE. The biggest decliner dollar-wise was Chevron CVX $77.34 -1.58 2% 8,861,458 NYSE and percentage-wise was Intel INTC $19.3 -0.82 4.08% 108,630,070 NASDAQ-GS.

As of the open of the market Thursday, the current divisor for the Dow found at page C4 of The Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.06down from Wednesday's 18.82 (year ago it was 17.75), the P/E estimate is 15.82 unchanged (year ago it was 10.35) and the current dividend yield is 2.67 unchanged (it was 4.05 a year ago).

Thursday's Dow Jones Industrial Average closing numerator was 1367.18 down 12.42 from Wednesday's closing Dow numerator of 1379.60. 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 12.42 for Thursday by the divisor you get the decrease in Thursday's Dow close of 93.87.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was 45.57 down 0.42 from Wednesday's Dow Jones Industrial Average closing price of $45.99. The median closing price of Thursday's Dow Jones Industrial Average was $41.85 down 0.63 from Wednesday's Dow Jones median closing price of $42.48. The lowest volume Thursday was 3M MMM $77.25 -0.55 0.71% 2,527,816 NYSE and the highest volume again was Bank of Am BAC $16.08 -0.27 1.65% 158,561,486 NYSE.

If Thursday morning before the market opened you had purchased $100 of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,260.
($137,970 - $136,710)

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

AT&T T $26.11 -0.20 0.76% 24,110,406 NYSE
Alcoa AA $13.22 -0.54 3.92% 31,748,398 NYSE
American Express AXP $41.14 -0.43 1.03% 12,309,191 NYSE
Bank of America BAC $16.08 -0.27 1.65% 158,561,486 NYSE
Boeing BA $51.43 -0.59 1.13% 3,182,564 NYSE
Chevron CVX $77.34 -1.58 2% 8,861,458 NYSE
Cisco CSCO $23.68 -0.32 1.33% 38,093,147 NASDAQ-GS
Coca-Cola KO $56.88 +0.30 0.53% 9,077,169 NYSE
Disney DIS $30.21 -0.46 1.5% 8,148,474 NYSE
DuPont DD $34.6 -0.65 1.84% 5,314,144 NYSE
ExxonMobil XOM $74.65 -0.62 0.82% 17,252,854 NYSE
GE $15.76 -0.33 2.05% 69,666,993 NYSE
Hewlett-Packard HPQ $49.82 -0.66 1.31% 15,073,648 NYSE
Home Depot HD $27.11 -0.18 0.66% 11,302,457 NYSE
Intel INTC $19.3 -0.82 4.08% 108,630,070 NASDAQ-GS
IBM $127.54 -0.61 0.48% 5,308,375 NYSE
J.P.Morgan Chase JPM $42.55 -0.83 1.91% 26,848,027 NYSE
Johnson & Johnson JNJ $62.43 +0.11 0.18% 13,293,404 NYSE
Kraft KFT $26.97 -0.29 1.06% 8,895,648 NYSE
McDonald's MCD $63.41 -0.57 0.89% 5,848,220 NYSE
Merck MRK $35.33 +0.19 0.54% 23,990,737 NYSE
Microsoft MSFT $29.78 -0.33 1.1% 51,887,488 NASDAQ-GS
Pfizer PFE $18.11 -0.08 0.44% 41,214,259 NYSE
Procter & Gamble PG $62.15 -0.26 0.42% 9,183,082 NYSE
3M MMM $77.25 -0.55 0.71% 2,527,816 NYSE
Travelers TRV $52.68 -0.47 0.88% 4,314,974 NYSE
United Technologies UTX $68.01 -0.80 1.16% 4,208,841 NYSE
Verizon VZ $30.52 -0.14 0.46% 10,561,652 NYSE
Walmart WMT $54.54 +0.39 0.72% 17,368,212 NYSE
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The following appeared in Thursday morning's Blog:

A read of Thursday's 11/19/09 print editions of: Wall St. Journal, Financial Times, New York Times, USA Today, Investors Bus. Daily, 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 Wednesday's closing price and related data:

AT&T T $26.31 +0.03 0.11% 18,587,814 NYSE: AJC pa19 "Judge won't ban phone ad" by Jeffry Scott says a fed judge in Atlanta yesterday said Verizon ads for its 3G wireless service might by sneaky but they're not misleading and he denied a request by Atlanta based rival AT&T Mobility to force Verizon to pull or alter the commercials. But the judge granted AT&T attorneys another chance to make their case at a follow up hearing Dec. 16.

WSJ pB5 "DirecTV Hires PepsiCo Veteran as CEO; EchoStar Names New Chief" by Roger Cheng says DirectTV Group Inc. selected PepsiCo Inc. veteran MIchael White as its new ceo. DirectTV faces a growing threat from telecommunications firms. On one hand, DirectTV partners with many of them to sell its tv service along with the phone copany's Internet, voice and wireless services. On the other, Verizon Communications and AT&T, both DirecTV partners, are focused on pushing their own TV services.

WSJ pB6 "ZTE Plans Smart Phone in 2010" by Lorraine Luk says ZTE Corp. plans to launch a smart phone based on Google Inc.'s mobile operating system next year and is in talks with carriers such as Vodafone Grop PLC, Verizon Wireless, France Telecom SA's Orange and T-Mobile to supply the device. ZTE also is in talks and conducting testing with operators in North America comprising Deutsche Telekom AG's T-Mobile USA, AT&T, Spring Nextel Corp. and Verizon Wireless, a venture between Verizon Communications Inc. and Vodafone, to sell handsets and mobile broadband data cards.

NYT pB7 "Dell is Ready to Jump Into the Smartphone Market" by Azadeh Ensha says PC maker Dell has officially announced its entry into the smartphone market with its first handset, the Nini 3 to be offered in China through China Mobile by late Nov. No word yet if or when the NNini 3 will be offered elsewhere, but Dell does hold agreements with Vodafone in Europe, Maxis in Malaysia and AT&T and Verizon in the US.

Alcoa AA $13.76 unch unch 20,616,867 NYSE: No mentions found.

American Express AXP $41.57 +0.21 0.51% 8,557,937 NYSE: Fin Times p16 "AmexCo to buy online payments business" by David Gelles, NYT pB8 "AmEx to buy Online Payments Firm & WSJ pC3 "AmEx Buys Online-Pay Firm" by Robin Sidel say American Express is seeking to attract young customers who want to pay for things with new types of tech so it is buying for $300 mil Revolution Money, a fledgling alternative payments firm that has financial backing from AOL founder Steve Case. Based in St. Petersburg, Fla, Revolution Money has developed an Internet based payment system that cuts costs for merchants who pay billions of dollars in fees a year for traditional credit card transactions. AmEx's purchase of the firm comes at a time when credit card firms are trying to figure out how to capitalize on new forms of payment without hurting their own plastic based businesses. Originally called Gratis, he target was founded by Jason Hogg, the son of a former top exec of MasterCard. The younger Mr. Hoggs also was an exec at MBNA, now owned by Bank of America.

Bank of America BAC $16.35 +0.58 3.68% 178,881,874 NYSE: WSJ pC3 "AmEx Buys Online-Pay Firm" by Robin Sidel says American Express is seeking to attract young customers who want to pay for things with new types of tech so it is buying for $300 mil Revolution Money, a fledgling alternative payments firm that has financial backing from AOL founder Steve Case. Based in St. Petersburg, Fla, Revolution Money has developed an Internet based payment system that cuts costs for merchants who pay billions of dollars in fees a year for traditional credit card transactions. AmEx's purchase of the firm comes at a time when credit card firms are trying to figure out how to capitalize on new forms of payment without hurting their own plastic based businesses. Originally called Gratis, he target was founded by Jason Hogg, the son of a former top exec of MasterCard. The younger Mr. Hoggs also was an exec at MBNA, now owned by Bank of America.

WSJ pA4 "Hiring Boom in Mortgage Restructuring" by Kyle Stock says mortgage restructuring for strapped homeowners has emerged as a rare growth area in the economy as firms in the filed keep hiring. 4 of the largest mortgages servicers - Bank of America, Citigroup, JPMorgan Chase & Wells Fargo, have collectively hired almost 17,000 people this year, mostly to work with financially ailing homeowners.

NYT pB2 "A Tough Job Now, But a Big Upside" by Rob Cox is another story about how BofA's Board screwed up by not having a succession plan for departing CEO Ken Lewis who is pictured with his usual grim expression with his finger across his frowning lips.

Boeing BA $52.02 -0.51 0.97% 4,373,049 NYSE: The entire page 14 of Financial Times has several stories about Boeing with the major one being "Deadline clouds Boeing's horizon" by Pilita Clark tha says with 840 orders for the Dreamliner and the delays mounting, the pressure in on, with charts showing ranges, passengers and costs of the 787-3, the 787-8 and the 787-9. There is a news analysis story "Nuts and bolts team takes command" by Hal Weitzman that says engineering is Boeing's top priority and talks about Jim Mulally's departure from Boeing in 2006 to go to Ford as CEO and that his departure from Boeing marked a shift away from tech expertise towards salesmanship that many say caused the problems and setbacks in the Dreamliner project. There is a sidebar profile on Boeing's Jim Albaugh who is the new head of Boeing's commercial aircraft division. There is another sidebar by Patrick Mathurin hat has a time line on the Dreammliner 787.

WSJ pB11 "Obama Boosts China Jet" by Andy Pasztor, Norihiko Shirouzu says Pres. Obama pledged to push for closer technical collaboration and eventual US safety approval for China's ARJ21 commmuter jet. This is a symbolic and practical step to counter Beijing's growing frustration with US aviation policy and US restrictions on the purchase of certain technologies. So far, Western interest in buying the ARJ21 has been limited. At the Zhuhai air show in southern China last year, Commerical Aircraft Corp. of China Ltd. or Comac announced that its first overseas order had come from GE which is supplying the engines. GE agreed to buy five of the regional jets with an option for 20 more in a deal that could amount to $750 mil. GE said that it planned to lease all the planes inside China. The current discussions about the ARJ21 may be a prelude to broader commercial and regulatory cooperation on a larger Comac designed jet, the 160 seat C919 slated for certification after 2016 that would compete with the 2 leading global airliner suppliers, Boeing Co. and Airbus, a unit of European Aeronautic Defense & Space Co. The C919 is supposed to have operating costs 10% below those of comparable Western airliners.

Caterpillar CAT $59.41 -0.47 0.78% 6,618,587 NYSE: No mentions found.

Chevron CVX $78.92 +0.11 0.14% 7,291,786 NYSE: No mentions found.

Cisco CSCO $24 -0.09 0.37% 27,157,288 NASDAQ-GS: WSJ pC1 "Stocks Slip: Tech Shares Lead Decline" by Peter A.McKay says tech stocks led a broad market decline after an analyst downgrade and weak earnings in the sector. The Dow Jones Industrial Average was down 11.11 points led by a 1.6 decline in Hewlett-Packard. Intel, Cisco and IBM also fell. It was the Dow's first drop in 4 trading days after closing at a new '09 high Tues. A weak reading of US housing starts set off the day's declines. Gold rose to $1,140.70 per ounce, a fourth straight exchange record while oil rose to $79.58 a barrel, the third straight gain.

Coca-Cola KO $56.58 -0.29 0.51% 7,622,071 NYSE: No mentions found.

Disney DIS $30.67 -0.20 0.65% 7,840,761 NYSE: No mentions found.

DuPont DD $35.25 -0.04 0.11% 5,072,324 NYSE: No mentions found.

ExxonMobil XOM $75.27 +0.24 0.32% 16,115,765 NYSE: No mentions found.

GE $16.09 +0.07 0.44% 47,485,669 NYSE: WSJ pB11 "Obama Boosts China Jet" by Andy Pasztor, Norihiko Shirouzu says Pres. Obama pledged to push for closer technical collaboration and eventual US safety approval for China's ARJ21 commmuter jet. This is a symbolic and practical step to counter Beijing's growing frustration with US aviation policy and US restrictions on the purchase of certain technologies. So far, Western interest in buying the ARJ21 has been limited. At the Zhuhai air show in southern China last year, Commerical Aircraft Corp. of China Ltd. or Comac announced that its first overseas order had come from GE which is supplying the engines. GE agreed to buy five of the regional jets with an option for 20 more in a deal that could amount to $750 mil. GE said that it planned to lease all the planes inside China. The current discussions about the ARJ21 may be a prelude to broader commercial and regulatory cooperation on a larger Comac designed jet, the 160 seat C919 slated for certification after 2016 that would compete with the 2 leading global airliner suppliers, Boeing Co. and Airbus, a unit of European Aeronautic Defense & Space Co. The C919 is supposed to have operating costs 10% below those of comparable Western airliners.

Fin Times p15 "Vivendi won't let a little hangover spoil a good party" by Paul Betts, Song Jung-A says some investors and analysts are worried about Vivendi's long term growth prospects now that it has bought up Brazil's Telefonica. Vivendi got rid of their interest in Hollywood studios in exchange for a 20% interest in the GE controlled NBC Universal group that could probably fetch about $6 bil if Vivendi decides this month to sell it.

WSJ pC7 "GE Capital Will Price An Islamic Bond" says GE Capial Ckrop., a unit of GE is expected to price its planned Islamic bond worth at least $500 mil at around 1.75 percentage points over US Treasurys.

Hewlett-Packard HPQ $50.48 -0.84 1.64% 16,484,320 NYSE: WSJ pC1 "Dell Playing Keep Up with Rival H-P" by Justin Scheck says the pressure is on for Dell when it reports its fiscal 3Q earnings Thurs. afternoon thanks to a recent surprise announcement by its biggest rival, Hewlett-Packard, the world's largest pc maker by revenue which last week disclosed its earnings two weeks early reporting profits that exceeded Wall St. expectations and raising its forecast for '10. HP's announcement was seen as evidence that the tech spending slump is over. Now investors want to see signs that Dell, which CEO Michadel Dell has been trying to revive for more than 2 years is also capitalizing on the recovery. Dell's market share in its core PC biz has continued slipping this year and fell to the world's 3rd largest PC vendor by unit shipments from second placee putting it behind HP and Taiwan's Acer. Dell also lags HP and IBM in offerings for big corporate customers.

WSJ pC1 "Stocks Slip: Tech Shares Lead Decline" by Peter A.McKay says tech stocks led a broad market decline after an analyst downgrade and weak earnings in the sector. The Dow Jones Industrial Average was down 11.11 points led by a 1.6 decline in Hewlett-Packard. Intel, Cisco and IBM also fell. It was the Dow's first drop in 4 trading days after closing at a new '09 high Tues. A weak reading of US housing starts set off the day's declines. Gold rose to $1,140.70 per ounce, a fourth straight exchange record while oil rose to $79.58 a barrel, the third straight gain.

WSJ pC6 "Autosdesk Falls 10% as Deere Gains" by Geoffrey Rogow says tech and consumer stocks feel, breaking the Dow Jones Industrial Average's 3 day winning streak as dissapointing earnings guidance fom Autodesk weighed on tech and an unexpected decline in home construction last month hurt consumer companies, including JC Penney. Tech firms leading the drop included Hewlett-Packard and United Technologies wich was off 1.1%. Kraft Foods sank 1.4% on reports Hershey is in prelim.. talks with Italian chocolate maker Ferrero SpA about making a joint bid for UK confectioner Cadbury.

Home Depot HD $27.29 +0.30 1.11% 17,821,967 NYSE: No mentions found.

Intel INTC $20.12 -0.20 0.98% 42,960,590 NASDAQ-GS: WSJ pB5 "EU Rebuked Over Intel Case" by Charles Forelle NYT pB3 European Ombudsman Criticizes Inquiry Into Intel" by Kevin J. O'Brien say the European ombudsman said European antitrust regulators had committed maladministration in their cae against Intel Corp. by not documenting a potentially exculpatory interview with a witness. The finding willhave little direct effect on Intel's antitrust fight in the EU, but it is an embarrassing black eye for the regulator and could serve as ammmunition for critics who say its procedures are in need of greater oversight. In May, the E's regulator concluded that Intel had illegally used rebates to induce customers not to do biz with its rival Advanced Micro Devices Inc. and ordered Intel to pay a $1.45 bil fine. Intel has appealed the EU's decision. The ombudsman's report said a Dell exec met in '06 with EU regulators and expressed concerns with the performance of AMD roducts which would lend credence to Intel's argument that computer makers were avoiding AMD for tech reasons, not because of anticompetitive conduct.

WSJ pB5 "AMD to Pare Its Debt With Funds From Intel" by Jerry A. DiColo says Advanced Micro Devices Inc. is going to use some of the $1.25 bil settlement money from Intel to reduce its debt coming due in 2012 by up to $1.4 bil.

WSJ pD1 "Intel Makes Leap In Device to Aid Impaired Readers" by Walter S. Mossberg says Intel is attacking the problem of helping the blind or reading impaired people to read by coming out with a new product: the Intel Reader.

WSJ pC6 "Options Report - Traders Bet on AMD, Blackstone and Intel" by ennill Tracy" says there was action in Advaned Micro Devices and Intel's options. In Intel a trader adopted a bullish revesal position in the firm's Jan. contracts. The trader sold Jan. $19 puts and bought Jan $21 calls, banking on the ability of the stock to stay above $19 and to climb above $21. Intel ealrier this week announced plans to increase the value of its quarterly dividend to 15.75 cents or 63 cents a year, signaling confidence in the firm's financial strength and future prospects.

WSJ pC1 "Stocks Slip: Tech Shares Lead Decline" by Peter A.McKay says tech stocks led a broad market decline after an analyst downgrade and weak earnings in the sector. The Dow Jones Industrial Average was down 11.11 points led by a 1.6 decline in Hewlett-Packard. Intel, Cisco and IBM also fell. It was the Dow's first drop in 4 trading days after closing at a new '09 high Tues. A weak reading of US housing starts set off the day's declines. Gold rose to $1,140.70 per ounce, a fourth straight exchange record while oil rose to $79.58 a barrel, the third straight gain.

IBM $128.15 -0.48 0.37% 3,961,716 NYSE: WSJ pB8 "Networking for Social Responsibility" by Alina Dizik says a growing number of firms are turning to business schools for help in redefining what it meanss to be socially responsible. In August, IBM Corp collaborated with Duke to offer Forward Looking Insights, a hands-on exercise to educate the firm's emerging leaders on the needs of the developing world.

WSJ pC1 "Dell Playing Keep Up with Rival H-P" by Justin Scheck says the pressure is on for Dell when it reports its fiscal 3Q earnings Thurs. afternoon thanks to a recent surprise announcement by its biggest rival, Hewlett-Packard, the world's largest pc maker by revenue which last week disclosed its earnings two weeks early reporting profits that exceeded Wall St. expectations and raising its forecast for '10. HP's announcement was seen as evidence that the tech spending slump is over. Now investors want to see signs that Dell, which CEO Michadel Dell has been trying to revive for more than 2 years is also capitalizing on the recovery. Dell's market share in its core PC biz has continued slipping this year and fell to the world's 3rd largest PC vendor by unit shipments from second placee putting it behind HP and Taiwan's Acer. Dell also lags HP and IBM in offerings for big corporate customers.

WSJ pC1 "Stocks Slip: Tech Shares Lead Decline" by Peter A.McKay says tech stocks led a broad market decline after an analyst downgrade and weak earnings in the sector. The Dow Jones Industrial Average was down 11.11 points led by a 1.6 decline in Hewlett-Packard. Intel, Cisco and IBM also fell. It was the Dow's first drop in 4 trading days after closing at a new '09 high Tues. A weak reading of US housing starts set off the day's declines. Gold rose to $1,140.70 per ounce, a fourth straight exchange record while oil rose to $79.58 a barrel, the third straight gain.

J.P.Morgan Chase JPM $43.38 +0.22 0.51% 20,404,242 NYSE: Fin Times p13 "JPMorgan in $1.7 bil deal for jv partner Cazenove" by Patrick Jenkins says JPMorgan will today unveil a deal to buy Cazenove, the UK broker with which it has had a jv for the past 5 years.

WSJ pC6 an article by Lynn Cowan says the Fortinent IPO jumped 33% and the managing underwriters were J.P.Morgan Chase, Morgan Stanely and Deutsche Bank.

Johnson & Johnson JNJ $62.32 +0.15 0.24% 11,478,102 NYSE: No mentions found.

Kraft KFT $27.26 -0.38 1.37% 10,902,225 NYSE: Fin times p13 "Rivals consider Cadbury options" & WSJ pB1 "Entering Cadbury Fray Would Put Ferrero Ouside Its Comfort Zone" by Stacy Meichtry says in weighing a potential bid for Cadbury PLC, Ferrero SpA is throwing itself into a high profile int'l corporate battle, switching gears from the insular style that has guarded the firm for more than a half a century. Ferrero on Wed. said it is in the prelim. stages of planning a rival bid to Kraft Foods Inc.'s $16.4 bil offer for British candy maker Cadbury. If the smaller, Italian chocolate firm moves forward, Ferrero and the brothers who run it, Pietro and Giovanni Ferrero, would be faced with unprecedented market scrutiny. Cadbury says it is focused on remaining a stand aloen company. Cadbury shares rose 1.% in London on the prospect a bidding war will develop. Hershey Co, said it was reviewing its options regarding Cadbury. Ferrero belongs to a breed of family owned European candy firms that include Belgian chocolatier Confiserie Leonidas SA, as well as gummy bear maker Haribo GmbHand August Storck KG, which makes the Werther's Originals and Toffifee brands, both of Germany.

Related story at Fin Times p18 "Cadbury transatlantic bid has long way to go" by Jenny Wiggins, Lina Saigol, kate Burgess that says there seems to be little investor appetitie for a Hershey-Ferrero offer.

A story at WSJ pC1 by Carolyn Cui mentions Cadbury in an article about the cocoa maket at the NY Board of Trade being in disarray because of the switch in '07 to an all electronic exchange which allows any one to get involved in he cocoa markets.

WSJ pC14 "Hershey, Ferrero Face Obstacles" by Matthew Curtin says the line may be about to get longer at the global confectionery counter, with Hershey and Ferrero discussing a counterbid for Cadbury. The arrival of big name hedge funds on Cadbury's share register suggests expectations of a bidding war. There are 2 obstacles. First, any deal would be hard to finance. The second problem is who gets Cadbury's most valuable part, the gum biz with its relatively high barriers to entry and fat margins. Even if Hershey and Ferrero agreed on that, the gum portion would be hard to finance. Credit Suisse values it at 5.3 bil pounds.

WSJ pC6 "Autosdesk Falls 10% as Deere Gains" by Geoffrey Rogow says tech and consumer stocks feel, breaking the Dow Jones Industrial Average's 3 day winning streak as dissapointing earnings guidance fom Autodesk weighed on tech and an unexpected decline in home construction last month hurt consumer companies, including JC Penney. Tech firms leading the drop included Hewlett-Packard and United Technologies which was off 1.1%. Kraft Foods sank 1.4% on reports Hershey is in prelim. Talks with Italian chocolate maker Ferrero SpA about making a joint bid for UK confectioner Cadbury.

Fin Times p12 "The sweet hereafter" says Cadbury is the last big opportunity for Hershey or Ferrero to do a transformational deal. More than 85% of Hershey's revs comes from the sluggish US market so Cadbury offers it a chance to build a sizeable biz outside the US. Cadbury eaming up with Ferrero would allow Ferrero to be part of a continenttal powerhouse without triggering competition problems but there are too many hurdles. Hershey and Ferrero both have powerful, conservative controlling shareholders.

McDonald's MCD $63.98 +0.41 0.64% 6,983,102 NYSE: No mentions found.

Merck MRK $35.14 +0.85 2.48% 27,458,645 NYSE: No mentions found.

Microsoft MSFT $30.11 +0.11 0.37% 59,353,118 NASDAQ-GS: WSJ pB7 "Evaluating Offline Privacy" by Emily Steel says a House subcommittee at a hearing Thurs. plans to explore how marketers use consumers' personal data to guide sales pitches on the Internet and will look at these sophisticated ad targeting techniques that are used in the Internet and other media, ranging from mobile phones to TV commercials to the ads consumers get in their mail box. A lot of the data that Web firms and advertisers get from the Internet includes a person's name, home address and credit score said Mike Zaneis, vp of public policy at the Interactive Advertising Bureau, a trade group that represents 375 Internet and advertising firms including Microsoft, Google, Yahoo and Time Warner's AOL.

Pfizer PFE $18.19 +0.25 1.39% 40,673,292 NYSE: WSJ bD3 in an item about Pfizer Jack Hough says Pfizer slashed its payment in Jan. to afford its $68 bil purchase of rival Wyeth, its stock still carries a 3.6% yield. The deal closed in Oct. and analysts say Pfizer's strong marketing division is likely to boost sales of Wyeth's products.

Procter & Gamble PG $62.41 +0.10 0.16% 11,955,549 NYSE: No mentions found.

3MMMM $77.8 -0.98 1.24% 2,539,553 NYSE: No mentions found.

Travelers TRV $53.15 unch unch 3,769,623 NYSE: No mentions found.

United Technologies UTX $68.81 -1.12 1.6% 5,957,489 NYSE: WSJ pC6 "Autosdesk Falls 10% as Deere Gains" by Geoffrey Rogow says tech and consumer stocks feel, breaking the Dow Jones Industrial Average's 3 day winning streak as dissapointing earnings guidance fom Autodesk weighed on tech and an unexpected decline in home construction last month hurt consumer companies, including JC Penney. Tech firms leading the drop included Hewlett-Packard and United Technologies which was off 1.1%. Kraft Foods sank 1.4% on reports Hershey is in prelim. Talks with Italian chocolate maker Ferrero SpA about making a joint bid for UK confectioner Cadbury.

Verizon VZ $30.66 +0.01 0.03% 10,611,705 NYSE: AJC pa19 "Judge won't ban phone ad" by Jeffry Scott says a fed judge in Atlanta yesterday said Verizon ads for its 3G wireless service might by sneaky but they'renot misleading and he denied a request by Atlanta based rival AT&T Mobility to force Verizon to pull or alter the commercials. But the judge graned AT&T attorneys aotehr chance to make their case at a follow up hearing Dec. 16.

WSJ pB5 "DirecTV Hires PepsiCo Veteran as CEO; EchoStar Names New Chief" by Roger Cheng says DirectTV Group Inc. selected PepsiCo Inc. veteran MIchael White as its new ceo. DirectTV faces a growing threat from telecommunications firms. On one hand, DirectTV partners with many of them to sell its tv service along with the phone copany's Internet, voice and wireless services. On the other, Verizon Communications and AT&T, both DirecTV partners, are focused on pushing their own TV services.

NYT pB7 "Dell is Ready to Jump Into the Smartphone Market" by Azadeh Ensha says PC maker Dell has officially announced its entry into the smartphone market with its first handset, the Nini 3 to be offered in China through China Mobile by late Nov. No word yet if or when the NNini 3 will be offered elsewhere, but Dell does hold agreements with Vodafone in Europe, Maxis in Malaysia and AT&T and Verizon in the US.

WalMart WMT $54.15 +0.49 0.91% 13,346,884 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
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.