11/30/09 Mon. pm Dow Closes 10344.84 up 34.92 or 0.34%

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Post #237 The following is brought to you by Intellivest Securities Research, Inc. Towards the end of this Blog is a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of close of 11/30/09 and an update of the Dow 30's most recent SEC filings as of 11/30/09.

The Dow Jones Industrial Average closed Monday at 10,344.84 up 34.92 or 0.34% from Friday's close of 10,309.92. Of the 30 Dow Companies: 16 gained and 14 declined. The biggest decliner dollar-wise was McDonald's MCD $63.25 -0.35 0.55% 6,365,466 NYSE and percentage-wise was Alcoa AA $12.52 -0.14 1.11% 24,211,974 NYSE. The biggest gainer dollar-wise and percentage-wise was J.P.Morgan Chase JPM $42.49 +1.16 2.81% 36,931,348 NYSE.

As of the open of the market today, the current divisor for the Dow found at page C4 of Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.89 down from Friday's 17.89 (year ago it was 18.48) the P/E estimate is 16.04 unchanged (year ago it was 10.27) and the current dividend yield is 2.71 up from Friday's 2.66 (it was 3.58 a year ago).

Monday's Dow Jones Industrial Average closing numerator was 1368.82 up 4.62 from Friday's closing Dow numerator of 1364.20. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator increase of 4.62 for Monday by the divisor you get the increase in Monday's Dow close of 34.92.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 45.63 up 0.16 from Friday's Dow Jones Industrial Average closing price of $45.47. The median closing price of Monday's Dow Jones Industrial Average was $42.16. The lowest volume Monday was again 3M MMM $77.44 +0.69 0.9% 3,815,520 NYSE and the highest volume again was Bank of Am BAC $15.85 +0.38 2.46% 126,803,835 NYSE.

If Monday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $480 ($136,890 - $136,410).

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

AT&T T $26.94 -0.05 0.19% 31,161,213 NYSE
Alcoa AA $12.52 -0.14 1.11% 24,211,974 NYSE
American Express AXP $41.83 +0.99 2.42% 13,786,562 NYSE
Bank of America BAC $15.85 +0.38 2.46% 126,803,835 NYSE
Caterpillar CAT $58.39 +0.94 1.64% 9,510,410 NYSE
Chevron CVX $78.04 -0.13 0.17% 9,101,949 NYSE
Cisco CSCO $23.4 +0.02 0.09% 33,595,107 NASDAQ-GS
Coca-Cola KO $57.2 +0.02 0.03% 9,229,809 NYSE
Disney DIS $30.22 -0.13 0.43% 10,180,007 NYSE
DuPont DD $34.58 +0.18 0.52% 5,046,173 NYSE
ExxonMobil XOM $75.07 +0.20 0.27% 21,000,633 NYSE
GE $16.02 +0.08 0.5% 68,841,835 NYSE
Hewlett-Packard HPQ $49.06 -0.01 0.02% 16,115,396 NYSE
Home Depot HD $27.36 -0.25 0.91% 16,574,079 NYSE
Intel INTC $19.2 +0.09 0.47% 47,517,961 NASDAQ-GS
IBM $126.35 +0.65 0.52% 6,133,529 NYSE
J.P.Morgan Chase JPM $42.49 +1.16 2.81% 36,931,348 NYSE
Johnson & Johnson JNJ $62.84 -0.05 0.08% 10,578,847 NYSE
Kraft KFT $26.58 -0.06 0.23% 7,443,534 NYSE
McDonald's MCD $63.25 -0.35 0.55% 6,365,466 NYSE
Merck MRK $36.21 -0.08 0.22% 17,946,368 NYSE
Microsoft MSFT $29.41 +0.19 0.65% 42,872,571 NASDAQ-GS
Pfizer PFE $18.17 +0.08 0.44% 58,517,173 NYSE
Procter & Gamble PG $62.35 -0.13 0.21% 12,047,855 NYSE
3M MMM $77.44 +0.69 0.9% 3,815,520 NYSE
Travelers TRV $52.39 +0.74 1.43% 4,878,864 NYSE
United Technologies UTX $67.24 +0.04 0.06% 4,259,720 NYSE
Verizon VZ $31.46 -0.17 0.54% 19,400,643 NYSE
WalMart WMT $54.55 -0.08 0.15% 11,805,466 NYSE

The following appeared in Monday morning's Blog:

A read of Monday's 11/30/09 print editions of: Wall St. Journal, Financial Times, New York Times, Investor's Business Daily, USA Today, Atlanta Journal Constitution, & Daily Report (Ga) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's closing price and related data:

Dow:: The Dow Jones Industrial Average closed Friday at 10309.92 down 154.48 or 1.48 from Thursday's close of 10,464.4. For the week, the Dow was down .08 from last Friday's Dow close of 10,318.16. For the 52 week period the Dow is up 16.77. Year to date the market is up 17.47Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was Exxon Mobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE and percentage-wise was BAC $15.47 -0.48 3.01% 96,686,916 NYSE.

Sat's WSJ pB1 "US Stocks, A Day After, Fall 154.48 by Peter A. McKay and WSJ pB3 "Caterpillar, Alcoa, BofA Slide" by Donna Kardos Yesalavich say US stocks fell in a thinly traded and shortened session Fri., as fears over the potential impact of debt problems at Dubai World sent investors fleeing a broad range of stocks such as Caterpillar, BofA and Alcoa.

Sat's Fin Times p14 "Plunging oil prices take a toll on energy sector" by Samantha Pearson, Michael Mackenzie says energy stocks dragged the market lower Fri as Wall St. floundered in the aftermath of Dubai World's request for a debt standstill. Exxon Mobil lost 2.1% and Chevron was down 3.9%.

AT&T T $26.99 -0.09 0.33% 16,259,375 NYSE: No mentions found.

Alcoa AA $12.66 -0.34 2.62% 15,557,325 NYSE: No mentions found.

American Express AXP $40.84 -0.88 2.11% 6,004,141 NYSE: No mentions found.

Bank of America BAC $15.47 -0.48 3.01% 96,686,916 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.

Boeing BA $52.45 -0.48 0.91% 3,281,352 NYSE: WSJ pB3 "FAA Rejects Boeing 777 Engine-Ice Warnings" by Andy Pasztor says the FA has rejected safety warnings from crash investigators and pilots and have decided to allow more than 130 Boeing 777 jetliners to continue flying long distance int'l trips through early 2011 with suspect parts that have caused engines in extremely rare instances to ice up and shut down in midair. This move caps months of debate in the int'l aviation community about the potential hazards of ice plugging up certain parts and restricting fuel flow to Rolls-Royce PC engines.

Caterpillar CAT $57.45 -1.59 2.69% 5,189,444 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.

Chevron CVX $78.17 -1.47 1.85% 5,649,677 NYSE: No mentions found.

Cisco CSCO $23.38 -0.36 1.52% 21,773,858 NASDAQ-GS: No mentions found.

Coca-Cola KO $57.18 -0.93 1.6% 7,837,689 NYSE: No mentions found.

Disney DIS $30.35 -0.26 0.85% 5,688,000 NYSE: Daily Report p6 "Three stocks show growth at reasonable price" by John Dorfman says there are threw GARP stocks he likes - GARP means "growth at a reasonable price." The 3 are Walt Disney Co, Union Pacific and Stryker Ckorp. Disney sells for between 15 times and 20times earnings and currently is at a multiple of 16. Investors have had a variety of complaints about Disney in the past 6 years. Management of the Burbank, Ca. firm suffered from infighting. The purchase of the ABC tv network was considered a flop by some as network tv lsot market share to cable. People worried that high gas prices and the recession would keep people away from thier parks. Since Robert Iger took over in '05, Disney hasn't earned less than $1.64 per year and it made it through the Great Recession of '08 - '09 without bleeding red ink. Even though ABC has been a disappointment, Dis's media oeprations includes an 80% stake in ESPN, 50% stake in ABC Family channel, Lifetime Entertainment and 10 tv stations. The media biz is Disney's largest source of rev. People came to their parks which caused rev from the parks to grow 7 to 8% annually. Dis stock was at a high at $43 a share in April 2000. Today, shares trade at just under $30 but the firm is bigger and better. For the fiscal year ended in Oct., Dis earned $3.3 bil on rev of $36 bil.

DuPont DD $34.4 -0.75 2.13% 2,594,556 NYSE: No mentions found.

ExxonMobil XOM $74.87 -1.60 2.09% 12,104,768 NYSE: No mentions found.

GE $15.94 -0.24 1.48% 60,916,051 NYSE: No mentions found.

Hewlett-Packard HPQ $49.07 -0.98 1.96% 9,948,935 NYSE: No mentions found.

Home Depot HD $27.61- 0.24 0.86% 7,517,737 NYSE:

Intel INTC $19.11 -0.23 1.19% 35,747,431 NASDAQ-GS: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.

IBM $125.7 -1.58 1.24% 3,319,189 NYSE: No mentions found.

J.P.Morgan Chase JPM $41.33- 0.83 1.97% 26,230,027 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.

Johnson & Johnson JNJ $62.89 -0.41 0.65% 6,080,942 NYSE: No mentions found.

Kraft KFT $26.64 -0.16 0.6% 4,468,515 NYSE: Fin Times p21 "Kraft tactic shows banks keen for deals" by Lina Saigol says Kraft's use of a rare merger and acquisitions financing tactic designed to help stop a counterbid to its $16.2 bil bid of Cadbury has highlighted a shift among banks towards a greater willingness to fund deals. Dubbed "bankmail", Kraft is paying more than $70 mil in commitment fees for the financing as well as interest of at least 2% points more than benchmark rates. Bank of America Merrill Lynch and JPMorgan appear among those ready to back Hershey as it tries to pull together a bid for Cadbury.

McDonald's MCD $63.6 -0.85 1.32% 3,557,849 NYSE: No mentions found.

Merck MRK $36.29 -0.28 0.77% 8,971,830 NYSE: No mentions found.

Microsoft MSFT $29.22 -0.57 1.91% 29,357,742 NASDAQ-GS: No mentions found.

Pfe PFE $18.25 -0.34 1.83% 22,830,294 NYSE: No mentions found.

Procter & Gamble PG $62.48 -0.39 0.62% 6,195,459 NYSE: No mentions found.

3M MMM $76.75 -1.16 1.49% 1,865,886 NYSE: WSJ pB4 "With Eye on Competition, Firms Keep Spending on R&D" by Dana Matioli says firms are focusing on products with quick rev opportunities and killing less promising projects. A survey by Booz & Co. of the world's largest research and development spenders found a shift away from basic research and toward applying existing technology to new products. Companies such as Intel, Caterpillar and 3M are going against this trend and are spending as big a share or a bigger share of revenue on research as a year earlier. Pictured is 3M CEO George Buckley. Caterpillar plans to begin shipping a new tractor that uses 20% less fuel that a similar size tractor with a mechanical drive and is working on a truck that can be operated without a driver.

Travelers TRV $51.65 -1.11 2.1% 2,433,045 NYSE: No mentions found.

United Technologies UTX $67.2 -1.11 1.62% 2,598,992 NYSE: No mentions found.

Verizon VZ $31.63 -0.40 1.25% 8,551,812 NYSE: No mentions found.

WalMart WMT $54.63 -0.33 0.6% 7,528,648 NYSE: Inv. Bus. Daily pB11 "For McCormick, Much At Stake With Wal-Mart" by Patrick Cains says McCormick, the multibillion dollar spice firm just increased its dividend by 8% last week giving it a yield of 2.6%. McCormick is a 110 year old company that sell herbs and spices in grocery stores across the US. Wal-Mart shold determine McCormick's future as some of their stores are testing a private label line of spices in locations where there are no duplicate McCormick spices. That's a threat to McCormick because Wal-Mart is a major customer.

Inv. Bus. Daily pA4 "Wal-Mart, Amazon Battling For More Electronics Sales" by Patrick Seitz says consumer electronics deals are bring out the crowds for holiday retail sales. But a bruising price war between online retailer Amazon.com and Wal-Mart could drag down profitability across the sector. Amazon has been slashing prices on a host of electronics, including TVs and GPS devices and WalMart has followed with its own price cuts. This price war started in the fall with books and DVDs and it spread to toys and electronics. WalMart is trying to drive traffic into its stores using low priced electronics as bait. WalMart is the top destination for video game consoles.

WSJ pC10 "Overheard" says retailers are upset about losing electronin sales to Wal-Mart and Best Buy.

WSJ pB2 "Closing of Quebec WalMart Upheld" says the Supreme Ct. of Canada said that WalMart was entitled to close a store in Quebec in '05, 7 months after workers voted to become the first WalMart store in N. America to unionize.

***************************************

Here are the CEOs of the Dow 30 Companies:

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

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of
11/30/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $360 [5]
2. Microsoft MSFT 260 [9]
3. WalMart WMT 211 [4]
4. Chevron CVX 191 [2.5]
5. Procter & Gamble PG 183 [3]
6. Johnson & Johnson JNJ 174 [3]
7. GE 170 [10.5]
8. IBM 165 [1.5]
9. JPMorgan Chase 163 [4]
10. AT&T 159 [6]
11. Pfizer PFE 147 [8]
12. Cisco CSCO 134 [6]
13. BAC 134 [6.5]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 116 [2]
16. Intel INTC 107 [5.5]
17. McDonald's MCD 106 [1]
18. Verizon VZ 90 [3]
19. Merck MRK 77 [2]
20. United Technologies UTX 63 [1]
21. Disney DIS 56 [2]
22. 3M MMM 54 [.5]
23. American Express AXP 49 [1]
24. Home Depot 47 [2]
25. Kraft KFT 39 [1.5]
26. Boeing BA 38 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 31 [1]
29. Travelers 28 [.5]
30. Alcoa AA 12 [1]

Here are the latest SEC filings as of 11/30/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:

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

T AT&T: 11/6/09 8K re:the acquisition of Centennial Communications Corp. a regional provider of wireless and wired communications services for $945 million in cash.

Alcoa AA: 11/20/09 8K re: that it will temporarily idle production at its two aluminum smelters in Fusina and Portovesme, Italy while appealing a European Commission decision that Italy’s extension of the existing electricity tariff after 2005 did not comply with European Union state aid rules and that a portion of the benefit received by Alcoa must be refunded. The curtailments in Italy will bring Alcoa’s total global smelting system curtailments to approximately 24 percent. Alcoa expects to take a 4Q '09 charge of between $300 million and $500 million, pre-tax, including the temporary curtailment and recovery actions.

American Express AXP: 11/18/09 8K re: acquisition of Revolution Money, a Revolution LLC company which was launched by AOL Co-founder Steve Case's Revolution LLC in '07 & provides secure payments through an internet based platform. No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. Their online person-to-person payment accounts are FDIC insured and suited for social and instant messaging networks.

Bank of Am BAC: 11/27/09 8K re: the Board approved amendments to the 2009 compensation arrangements for Joe L. Price, Chief Financial Officer, & Barbara J. Desoer, President, Bank of America Mortgage, Home Equity and Insurance Services.

Boeing BA: 11/20/09 8K re: Boeing issued $700,000,000 of 1.875% Senior Notes due 2012 and $500,000,000 of 3.750% Senior Notes due 2016.

Caterpiller CAT: 11/19/09 8K disclosing supplemental information concerning deliveries to users for its Machinery and Engines lines of business.

Chevron CVX: 11/5/09 10Q

Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2001 and set to expire in February 2010 and sell the acquired shares of Cisco stock for up to 80,000 shares of Cisco stock.

Coke KO: 10/29/09 10QA

Disney DIS: 11/13/09 8K re: effective January 1, 2010, Thomas O. Staggs, currently Sr. Exec. VP & CFO, will become Chairman, Walt Disney Parks & Resorts, & James A. Rasulo, currently Chairman, Walt Disney Parks & Resorts, will become Sr. Exec. VP & CFO.

11/19/09 Amended S-4 related to the takeover of Marvel.

DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due 1/15 & $1,000,000,000 4.625% Notes due January 15, 2020

ExxonMobil XOM: 11/5/09 10Q

GE: 11/6/09 10QA

Hewlett-Packard HPQ: 11/23/09 8K re: financial results for its 4Q ended 10/31/09, with net rev of $30.8 billion, down 8% from a year earlier.

Home Depot HD: 11/17/09 8K re: 3Q of fiscal 2009 net earnings of $689 million, or $0.41 per diluted share, compared with net earnings of $756 million, or $0.45 per diluted share, in the same period in fiscal 2008.

Intel INTC: 11/16/09 8K re: board of directors approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.

IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities of the Registrant.

JPMorganChase JPM: 11/20/09 re: Cazenove Group Limited (Cazenove) and J.P. Morgan have agreed a transaction under which their joint venture, J.P. Morgan Cazenove, will become a wholly owned part of J.P. Morgan.

Johnson & Johnson JNJ: 11/4/09 10Q

Kraft KFT: 11/9/09 8K re: pursuant to Rule 2.5 of the U.K. City Code on Takeovers and Mergers Kraft disclosed its intention to make an offer to acquire each outstanding ordinary share of Cadbury plc.

11/9/09 8K re: an acquisition and refinancing bridge credit agreement for a 364-day senior unsecured term loan facility with the lenders led by Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Citibank, N.A. and Deutsche Bank AG Cayman Islands Branch, as co-administrative agents for loans up to £5.5 billion with a maturity date of 364 days.

McDonalds MCD: 11/12/09 8K re: CEO Jim Skinner outlined MCD’s priorities to continue to drive growth in sales, market share and returns through a strategic focus on its customers and restaurants under the successful Plan to Win. This includes plans to open about 1,000 new restaurants and reimage 2,300 existing locations worldwide in 2010.

Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.

Microsoft MSFT: 11/24/09 8K re: Chris Liddell's departure as CFO to be replaced by Peter Klein.

Pfizer PFE: 11/5/09 10Q

Procter & Gamble PG: 10/29/09 10Q

3M MMM: 11/24/09 8K re: an amendment to its VIP Excess Plan that offers eligible highly compensated employees with the opportunity to defer the receipt of a portion of their current cash compensation on a tax-favored basis.

Travelers TRV: 11/10/09 8K re: the resignation of Robert I. Lipp from the Board.

United Technologies UTX: 11/17/09 8K re: its purchase of the GE Security business from GE for $1.82 billion. The closing is pending regulatory approvals. GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.

Verizon Communications Inc. VZ:/11/2/09 8K announcing VZ adoption of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51 (SFAS No. 160).

Wal-Mart WMT: 11/12/09 8K re: diluted earnings per share from continuing operations for 3Q of fiscal year 2010 of $0.84, exceeding WMT’s guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year.