11/4/09 Wed. am JNJ to Cut 7% of Jobs/Kraft's Lowers Outlook

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Post #194 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 Wednesday's 11//09 print editions of: Wall St. Journal, Financial Times, New York Times, Atlanta Journal Constitution, Fulton Daily Report (Bloomberg) & 11/9/09 issue of Newsweek 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 Tuesday's closing price and related data:

Dow: The Dow Jones Industrial Average closed Tuesday at 9771.91 down 17.53 or 0.18% from Monday's close of 9789.44. Year-to-date the Dow is up 11.34%. Of the 30 Dow Companies: 17 declined and 13 gained. The biggest decliner dollar-wise was Coca-Cola KO $53.12 -0.60 1.12% 8,120,045 NYSE and percentage-wise was INTC $18.5 -0.51 2.68% 101,005,511 NASDAQ-GS. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $56.46 +0.97 1.75% 7,679,775 NYSE.

WSJ pC1 "Blue Chips Drift Lower As Intel Drags" by Peter A. McKay says stocks finished little changed as deal making by Warren Buffet, along with better than expected auto sales and factory orders, boosted industrial shaers but failed to inspire widespread confidence int he economic recovery. The Dow Jones Industrial Average was held back by Intel's 2.7% slide after Morgan Stanley cut its rating on the semiconductor industry. Caterpillar rose 1.7%.

WSJ pC7 "Burlington Chugs 28% As Intel, SanDisk Fall" by Geoffrey Rogow says a buyout by Warren Buffett's Berkshire Hathaway sent Bulington Northern Santa Fe and a number of other transport stocks higher as analyst induced declines for Intel, SanDisk and other chip stocks kept market gains muted. Intel is charted under "Bad News" saying Morgan Stanley cuts its rating on the semiconductor industry warning that sector fundamentals are weakening.

NYT pB7 "Global Banking Fears Lead to Mixed Results" by Javier V. Hernandez says Wall St. wobbled on Tues. amid indications that the global economy, particularly the banking sector, might be more frail than investors had believed. But positive sales reports from automakers stoked investors' hopes in the final hours of trading. The day began with the announcement that the Royal Bank of Scotland would take billions more in British gov aid. In addition, UBS in Switzerland reported another quarter of losses, sending European stocks tumbling. In the afernoon, automakers includign GM and Ford reported sales in Oct. had risen by small amounts, while Chrysler's sales had declined 30%. The data suggested consuemrs were still willing to buy cars. The Treasury's 10 year note fell to 101 10/32, the yield rose to 3.47%.

Fin Times p28 "Buffett's $26 bil rail deal overshadowed by banking wories" by Samantha Pearson says Wall St. clawed back early losses in volatile trading after news of buffett's biggest takeover deal offset lingering concerns over the banking sector.

USA Today p4B "Deals generate an up and down day" by AP says stocks ended mostly higher Tues as rising commodity prices lifted energy, industrial and materials companies, and investors drew comfort from Buffett's move to buy Burlington Northern Santa Fe for $34 bil.

The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged where it is also noted that as of market open Wednesday the Dow's trailing P/E ratio is 16.84 down from Tuesday's 16.87 (year ago was nil), the P/E estimate is 15.68 unchanged (1 year ago it was 10.97), and the dividend yield is 2.86 unchnaged (a year ago it was 3.46).

Tuesday's Dow Jones Industrial Average closing numerator was 1293.01 down 2.32 from Monday's closing Dow numerator of 1295.33. Year-to-date the Dow is up 11.34%.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 2.32 for Tuesday by the divisor you get the decrease of 17.53 in Tuesday's Dow close.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 43.10 down 0.08 from Monday's Dow Jones Industrial Average closing price of $43.18. The median closing price of Tuesday's Dow Jones Industrial Average was 39.37 up 0.24 from Monday's Dow Jones median closing price of $39.13. The lowest volume Tuesday was 3M MMM $74.06 -0.22 0.3% 3,475,412 NYSE and the highest volume again was Bank of Am BAC $14.8 +0.17 1.16% 187,276,940 NYSE.

If Tuesday 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 $240.
($129,540 - $129,300)

AT&T T $25.36 -0.23 0.9% 26,740,724 NYSE: WSJ pB4 "AT&T Sues Verizon" by Roger cheng, USA Today at p1B & AJC p18 says AT&T sued Verizon in US Dist. Ct. in Atlanta for VZ's ads that misrepresents AT&T's coverage. With its recent commercials, Verizon Wireless (a jv between Verizon Communications and Vodafone) has jumped on mounting criticism of AT&T's coverage and its ability to handle the flood of data from Apple Inc. iPhone users. The "There's a Map for That" commercials mock Apple's own "There's an App for That" tv spots, which tout the thousands of programs available for its smart pohone. The VZ ads compare the wireless coverage maps of the 2 US carriers. Verizon Wireless spent $1.8 bil on US ads in '08 while AT&T spent $1.4 bi. AT&T has taken a public hit over its 3G coverage, which is crucial for smart phones capable of handling Internet browsing, videos and emails.

Alcoa AA $12.66 +0.18 1.44% 33,363,031 NYSE: No mentions found.

American Express AXP $36.04 +0.36 1.01% 11,051,352 NYSE: No mentions found.

Bank of America BAC $14.8 +0.17 1.16% 187,276,940 NYSE: Fin Times p18 "Fund renews call for BofA to look at outsiders for chief" by Greg Farrell in NY says a Texas fund, Finger Interests Number One, that owns more than 1 mil shares in BAC renewed its call for the company's board to look at outside candidates to replace ceo Ken Lewis who is stepping down at the end of the year. The top 2 inside candidates are Brian Moynihan who heads BofA's retail banking biz, and Greg Curl who had been BofA's top dealmaker until he was named chief risk officer in June.

WSJ pC8 says Bank of America Auto Trust sold out an offering of notes at 0.38% point over a short tem futures benchmark in a triple A rated tranche of $723 mil.

Daily Report "New chief could mean new home for BofA" by David Mildenberg, Bradley Keoun of Bllomberg says BofA broadened its search for a ceo to include canddiates who want to live in NY, acknowledging the bank's biggest units are no longer based in Charlotte. BofA employs 15,000 people in Charlotte, which is about 5% of the bank's global workforce of 281,863. Sahresof BofA are up 4% so far this year, compared with a 13% advance in the S&P 500 Financials Index. BofA's investment banking and wealth management businesses, which are run from NY, made up half of rev through 9/30, up from 34% in the same period last year, before the acquisition of Merrill Lynch.

Boeing BA $48.1 -0.17 0.35% 4,664,402 NYSE: No mentions found.

Caterpillar CAT $56.46 +0.97 1.75% 7,679,775 NYSE: WSJ pC1 "Blue Chips Drift Lower As Intel Drags" by Peter A. McKay says stocks finished little changed as deal making by Warren Buffet, along with better than expected auto sales and factory orders, boosted industrial shaers but failed to inspire widespread confidence int he economic recovery. The Dow Jones Industrial Average was held back by Intel's 2.7% slide after Morgan Stanley cut its rating on the semiconductor industry. Caterpillar rose 1.7%.

Chevron CVX $76.7 +0.06 0.08% 8,676,734 NYSE: No mentions found.

Cisco CSCO $22.91 -0.09 0.39% 46,246,493 NASDAQ-GS: WSJ pC1 "Does Cisco Have Any Positive News Left? by Mark Gongloff says Tech giant Cisco is due to report after the closing bell Wed. results from its fiscal 1Q, which ended in Oct. Analysts estimate Cisco earned 31 cents per share, down from 42 cents the same quarter last year. The recession and credit crunch casued businesses to curb spending, including on the Cisco gear that connects computers to the Internet and to each other. But sales of the kind of stuff Cisco makes help up relatively well thanks to gov demand. Communications equipment orders were down 20% at the recession's worst point, compared with 26% for a braod range of business capital goods. After a 68% run up since March, a lot of good news is already priced into Cisco stock as it trades at about 17 times the next 12 months' forecast earnings, roughtly its 5 year avrage.

Coca-Cola KO $53.12 -0.60 1.12% 8,120,045 NYSE: WSJ pC7 "Diller Doubles Down On Coca-Cola Sahers" by Melissa Korn says Barry Diller is betting that KO still has plent of fixx, more than doubling his stake in the KO as its stock trades nears its 52 week high. Diller is a Coke directors and ceo of IAC/InterActiveCorp. which bought 510,00 shares for $27.6 mil on Oct. 26. JPMorgan analyst John faucher says KO should do well over the next nine months as they benefit from a reacceleration in emerging markets. He has an overweight rating on the company with a $62 price target.

Disney DIS $27.62 +0.21 0.77% 11,985,872 NYSE: NYT pB1 "China Approves a Disney Theme Park in Shanghai" by Brooks Barnes says after a courtship of 20 years, Disney was approved by China to build a Disney theme park in Shanghai. The initial park, not including hotels and resrot, will cost $3.5 bil making it one of the largest ever foreign investments in China. It will sit on 1,000 acres in Pudong district with the theme park on 100 acres which is bigger than Disneyland in Anaheim and the same as in Paris and Tokyo. It will open in 6 years.

DuPont DD $32.55 +0.28 0.87% 7,539,541 NYSE: No mentions found.

ExxonMobil XOM $71.74 -0.41 0.57% 20,358,341 NYSE: WSJ pA8 "BP-China Natinal Group Signs Pact for Iraq Oil Field" by Gina Chon says a consortium made up of BP PLC & China Nat'l petroleum Crop. finalzied an agreement to develop southern Iraq's giant Rumaila oil field, having won the contract int he country's historic oil field auction of the summer. The deal is a coup for the British super major, which holds the biggest stake in the venture. But it also makes the Chinese oil company the dominant foreign playe so far in Iraq's promising oil patch, following another big deal in Iraq signed last year by CNPC. a CNPC-led consortium also is one of 3 bidders for West Qurna 1, another big field. A consortium led by Russia's Lukoil and another group led by Exxon Mobil Corp. also are in the running for that field.

GE $14.32 -0.15 1.04% 76,884,582 NYSE: No mentions found.

Hewlett-Packard HPQ $47.51 0.65 1.35% 14,733,826 NYSE: IBd pA4 "HP Turns Up Heat On Data Center Rivals" by J. Bonasia says as competition escalates in the market for data center gear, HPQ finds itself surrounded by enemies. HPQ is set to roll out on Wed. a line of products and services it calls HP converged Infrastructure Architecture. The package aims to help companies make their data centers more flexible and integrated with corporte operations. Some heavy weights are jummping into this same market. Early this year, networking leader Cisco systems released its first server, Unified Computing System that includes data processing, networking and storage compoents. On Tues. Cisco partnered with EMC and VMware to jointly develop data cetners for clients. HP's main rival, IBM, also has teamed up with Juniper. IBM is making a direct assault on HP's server and storage biz, and claims it's taken 200 customer from HP this year. This is mostly an interview with HP vp of marketing, Paul Miler who used to be at IBM.

Home Depot HD $25 0.06 0.24% 17,426,540 NYSE: No mentions found.

Intel INTC $18.5 -0.51 2.68% 101,005,511 NASDAQ-GS: WSJ pC1 "Blue Chips Drift Lower As Intel Drags" by Peter A. McKay says stocks finished little changed as deal making by Warren Buffet, along with better than expected auto sales and factory orders, boosted industrial shaers but failed to inspire widespread confidence int he economic recovery. The Dow Jones Industrial Average was held back by Intel's 2.7% slide after Morgan Stanley cut its rating on the semiconductor industry. Caterpillar rose 1.7%.

Similar report at IBD pA2.

WSJ pC7 "Burlington Chugs 28% As Intel, SanDisk Fall" by Geoffrey Rogow says a buyout by Warren Buffett's Berkshire Hathaway sent Bulington Northern Santa Fe and a number of other transport stocks higher as analyst induced declines for Intel, SanDiska nd other chip stocks kept market gains muted. Intel is charted under "Bad News" saying Morgan Stanley cuts its rating on the semiconductor industry warning that sector fundamentals are weakening.

IBM $121.16 +0.60 0.5% 5,689,842 NYSE: IBd pA4 "HP Turns Up Heat On Data Center Rivals" by J. Bonasia says as competition escalates in the market for data center gear, HPQ finds itself surrounded by enemies. HPQ is set to roll out on Wed. a line of products and services it calls HP converged Infrastructure Architecture. The package aims to help companies make their data centers more flexible and integrated with corporte operations. Some heavy weights are jummping into this same market. Early this year, networking leader Cisco systems released its first server, Unified Computing System that includes data processing, networking and storage compoents. On Tues. Cisco partnered with EMC and VMware to jointly develop data cetners for clients. HP's main rival, IBM, also has teamed up with Juniper. IBM is making a direct assault on HP's server and storage biz, and claims it's taken 200 customer from HP this year. This is mostly an interview with HP vp of marketing, Paul Miler who used to be at IBM.

J.P.Morgan Chase JPM $42.7 +0.12 0.28% 29,162,243 NYSE: No mentions found except references to their analysts.

Johnson & Johnson JNJ $58.93 -0.56 0.94% 17,110,155 NYSE: Fin Times p15 "J7J to axe 7% of jobs in global restructure" by Andrew Jack, Simonee Baribeau says Johnson & Johnson will cut up to 7% of its 117,000 employees by 2011 as it reduces costs in an effort to weather the global downturn & increase spending on new products. The move will save $1.7 bil a year & comes as JNJ is suffering from the global economic slump. JNJ's pharma sales were down 14.1 % in 3Q. JNJ made 900 job cuts a few years ago but mostly in US, this one is int'l. Also reported at WSJ pB1 by Jonathan D. Rockoff, at NYT pB3 by Natasha Singer, IBD pA1 & AJC pA18.

WSJ pB3 "Omnicare to Pay $98 Mil to Settle Charges in Drug maker Kickback Case" by Brent Kendall says Monicare will pay this amount to settle charges it was in these kickback schemes with drug makers adn nursing homes. Dept. of Justice laweyrs also claimed Monicare solicited and received kickbacks from Johnson & Johnson in exchange for agreeing to recommend that doctors prescribe antipsychotic drug Risperdal.

NYT pB2 says JNJ has found merger size sizings in itself by elimnating 8,000 jobs but the benefits will be fleeting becaue it is tough to find new drugs to replace lost revenue as sales of old products run down. Investors sliced $1.5 bil off JNJ's market value Tues. The costs and risks of discovering durgs and marketing them havesurged so JNJ increasingly relies upon research partnerships like the one earlier this year with Elan. JNJ's sales are declining due to the loss of patent protection on its drugs such as the migraine drug Topamax which sales fell to $175 mil in3Q from $728 mil prior years. Sales of antipsychotic Rispedal fell 40% in same period to $192 mil. These declines accounted for much of JNJ's overall declien in 3Q rev. JNJ's operating margins for its drug biz is 31%, almost double the profitability of its consumer arm.

IBD pA4 "Big Pharma Again taking Shot At Vaccines" by Peter Benesh says Pfizer's $68 bil acquisition of Wyeth is just the tip of the iceberg as biologics boost activity. In addition to the swine flu vaccine, H1N1, vaccines are becoming a high priority category for big biopharma firms. Low prices, high costs and fear of lawsuits drove most Big Pharma firms out of the vaccine biz in the 80s and 9s but now they are back. On Oct. 15, Pfizer clsoed its acquisition of Wyeth. Wyeth had a vaccine called Prevnar to rpevent miningities and several types of infections in children which will bring in about $3 bil of sales. JNJ recently bought 18% of Dutch biotech Crucell which is working on a universal flu vaccine and Merck has bought to rights to sell Australia-based CSL's Afluria flu faccine in the US. Merck's Zostavax prevents shingles for over 60 year olds and costs $185 per dose and will hit $300 mil in sales in '09.

Kraft KFT $27.54 -0.10 0.36% 10,233,521 NYSE: NYT pB3 "Kraft Posts Profit That Beats Forecasts, but Cuts Outlook" by William Neuman, WSJ pB5 & AJC pA18 says Kraft's profits fell 40% for its most recent quarter compared to the same quarter last year. Its 3Q profit exceeded Wall St. expectations, but it lowered its '09 sales outlook, saying it would benefit less from price increases. Kraft makes Kraft cheese, Oscar Mayer lunch meats and Planters nuts. It posted a profit of $824 mil down from $1.36 bil a year earlier when it took a big gain on its sale of Post cereals to Ralcorp Holdings Inc. Rev declined 5.7% to $9.8 bil, though lower costs bolstered margins. In Sept. Kraft bid for Cadbury for $16.7 bil but was rebuffed but Kraft CEO Irene Rosenfeld said Kraft is still interested. Kraft is the nation's largest food manufacturer.

McDonald's MCD $59.24 +0.08 0.14% 6,387,956 NYSE: No mentions found.

Merck MRK $30.67 -0.59 1.89% 67,846,870 NYSE: IBD pA4 "Big Pharma Again taking Shot At Vaccines" by Peter Benesh says Pfizer's $68 bil acquisition of Wyeth is just the tip of the iceberg as biologics boost activity. In addition to the swine flu vaccine, H1N1, vaccines are becoming a high priority category for big biopharma firms. Low prices, high costs and fear of lawsuits drove most Big Pharma firms out of the vaccine biz in the 80s and 9s but now they are back. On Oct. 15, Pfizer clsoed its acquisition of Wyeth. Wyeth had a vaccine called Prevnar to rpevent miningities and several types of infections in children which will bring in about $3 bil of sales. JNJ recently bought 18% of Dutch biotech Crucell which is working on a universal flu vaccine and Merck has bought to rights to sell Australia-based CSL's Afluria flu faccine in the US. Merck's Zostavax prevents shingles for over 60 year olds and costs $185 per dose and will hit $300 mil in sales in '09.

Microsoft MSFT $27.53 -0.35 1.26% 50,072,391 NASDAQ-GS: Newsweek p28 "The Lost Decade why Steve Ballmer is no Bill Gates" by Daniel Lyons says 10 years after Ballmer took over from Gates as CEO, Microsoft stock has dropped by half, while Google and Apple shares have soared. Even though Windows operating system still runs on more than 90% of PCs, and the Office app suite rules the desktop in new areas, Microsoft is losing ground. Apple created the iPod and the iTunes store and the iPhone. Google dominates Internet search and has the best email system, Gmail, and represents a growing threat in mobile devices with Android. Amazon has grown to dominate online retail and is ahead in the cloud-computing business and has the Kindle e-reader. MSFT's Zune music playe is a dud; the Bing search engine, while good won't defeat Google, Windows Mobile smartphone software platform has been surpassed by rivals and Azure, MSFT's cloud computing service which arrives next year is 4 years behind Amazaon.

WSJ B4 "Yahoo Looks to Add Timelier Search Results" by Jessica E. Vascellaro says Yahoo is testing a new search feature that will show people results bassed on relevant info being shared by Internet users in real time through a partnership with Web search start-up OneRiot Inc. This deal is independent from Yahoo's deal to outsource some fo its search features to Microsfot. In Oct., Microsoft and Google announced deals with Twitter designed to help them add capabilities for timelier search results.

Similar story at USA Today p1B "Urgency shapes race in Web search" by Jon Swartz that says the ranking for overall searches in US is Google sites at 64.6% market sahre followed by Yahoo sites at 19.3%, Microsfot siftes at 9.3%, Ads Network at 3.9% and AOL at 3%.

Pfizer PFE $16.89 -0.06 0.35% 52,645,433 NYSE: IBD pA4 "Big Pharma Again taking Shot At Vaccines" by Peter Benesh says Pfizer's $68 bil acquisition of Wyeth is just the tip of the iceberg as biologics boost activity. In addition to the swine flu vaccine, H1N1, vaccines are becoming a high priority category for big biopharma firms. Low prices, high costs and fear of lawsuits drove most Big Pharma firms out of the vaccine biz in the 80s and 9s but now they are back. On Oct. 15, Pfizer clsoed its acquisition of Wyeth. Wyeth had a vaccine called Prevnar to rpevent miningities and several types of infections in children which will bring in about $3 bil of sales. JNJ recently bought 18% of Dutch biotech Crucell which is working on a universal flu vaccine and Merck has bought to rights to sell Australia-based CSL's Afluria flu faccine in the US. Merck's Zostavax prevents shingles for over 60 year olds and costs $185 per dose and will hit $300 mil in sales in '09.

Procter & Gamble PG $58.58 -0.37 0.63% 12,030,444 NYSE: No mentions found.

3M MMM $74.06 -0.22 0.3% 3,475,412 NYSE: IBD pB5 "#M Became Lean As Market Soured; Benefit Now Seen" by Patrick Cain says 3M, the maker of products such as Scotch Tape, has traded steadily with small gains for the past 3 months. That slow capital appreciation is nicely coupled with its 2.7% dividend yeild. 3M's earnings growth could pick up in the future as analysts expect 75 profit growth in '10 up from the 12% slide Wall St. sees for '09. One factor driving growth is a surge in restocking. 3M handled the market dowturn well as it was one of the first to respond by improving efficiencies and cutting costs. 3M is growing in foreign markets such as India by adding a Bangalore plant. Its '08 annual report showed a diverging trend with pretax margins and return on equity. ROE hits its high point since '03 and margins decelerated for the 3rd straigth year. Since late Mar. 3M has traded mostly above its 10 week moving average.

Travelers TRV $50.08 -0.12 0.24% 3,916,001 NYSE: No mentions found.

United Technologies UTX $63.2 0.54 0.86% 4,428,667 NYSE: No mentions found.

Verizon VZ $29.07 -0.34 1.16% 19,944,897 NYSE: WSJ pB4 "AT&T Sues Verizon" by Roger cheng & AJC p18 says AT&T sued Verizon in US Dist. Ct. in Atlanta for VZ's ads that misrepresents AT&T's coverage. With its recent commercials, Verizon Wireless (a jb between Verizon Communications and Vodafone) has jumped on mounting criticism of AT&T's coverage and its ability to handle the flood of data from Apple Inc. iPhone users. The "There's a Map for That" commercials mock Apple's own "There's an App for That" tv spots, which tout the thousands of programs available for its smart pohone. The VZ ads compare the wireless coverage maps of the 2 US carriers. Verizon Wireless spent $1.8 bil on US ads in '08 while AT&T spent $1.4 bi. AT&T has taken a public hit over its 3G coverage, which is crucial for smart phones capable of handling Internet browsing, videos and emails.

Wal-Mart WMT $49.9 -0.38 0.76% 16,161,067 NYSE: AJC pA17 says Walmart settled a wage and hour dispute by agreeing to pay up to $85 mil in Nevada.
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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