WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM
The following is not intended as advertising by a broker-dealer and is not a research report.
The following paragraph is a personal message and not stock market related: Best wishes for a healthy, happy, and prosperous 2010. These daily reports published every day since July 15, 2009 have helped me learn about the Dow Jones 30 components and I hope you have learned something as well. Based on the increasing hits, I believe that is the case but this Blog is not about the numbers. It is about dispensing with the silly notion that one can predict the future with any certainty and, instead, focuses on studying the facts about one segment of the stock market which, as a side benefit, may better the odds in your favor in the giant casino we call the stock market if you choose to place a bet. So long as this is fun, it will continue. Again, thank you for reading this and thank you for your emails. I try to respond quickly to each one. Be safe. Sorry about the typos. Dan Kolber
Post #290 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
The Dow Jones Industrial Average closed Thursday at 10428.05 down 120.46 or 1.14% from Wednesday's close of 10,548.1. For the week, the Dow is down 92.05 from last Thursday's close of 10,520.1. Of the 30 Dow Companies: only JPMorgan Chase gained and 29 declined. The biggest and only gainer dollar-wise and percentage-wise was JPM $41.67 +0.14 0.34% 19,927,935 NYSE. The biggest decliner dollar-wise was IBM $130.9 -1.67 1.26% 4,181,980 NYSE and percentage-wise was Hewlett-Packard HPQ $51.51 -1.42 2.68% 13,784,816 NYSE.
As of the open of the market Thursday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 unchanged from Wednesday's 18.30 (year ago it was 18.33) the P/E estimate is 16.00 unchanged from Wednesday (year ago it was 10.62) and the current dividend yield is 2.61 down from Wed.'s 2.62 (it was 3.58 a year ago).
Thursday's Dow Jones Industrial Average closing numerator was 1379.83 down 15.89 from Wednesday's closing Dow numerator of 1395.72. 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 15.89 for Thursday by the divisor you get the decrease in Thursday's Dow close of 120.46.
The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was 46.00 down 0.52 from Wednesday's Dow Jones Industrial Average closing price of $46.52. The median closing price of Thursday's Dow Jones Industrial Average was 40.60 down 0.57 from Wednesday's $41.17. The lowest volume was 3M MMM $82.67 -1.23 1.47% 2,030,297 NYSE and the highest volume again was Bank of Am BAC $15.06 -0.01 0.07% 93,252,274 NYSE.
If Thursday 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 lost $1,560 ($139,560 - 138,000).
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $28.03 -0.29 1.02% 16,027,281 NYSE
Alcoa AA $16.12 -0.18 1.1% 16,376,473 NYSE
American Express AXP $40.52 -0.28 0.69% 3,966,458 NYSE
Bank of America BAC $15.06 -0.01 0.07% 93,252,274 NYSE
Boeing BA $54.13 -0.83 1.51% 2,168,245 NYSE
Caterpillar CAT $56.99 -1.06 1.83% 3,837,532 NYSE
Chevron CVX $76.99 -0.66 0.85% 4,209,024 NYSE
Cisco CSCO $23.94 -0.24 0.99% 23,814,837 NASDAQ-GS
Coca-Cola KO $57 0.68 -1.18% 5,394,423 NYSE
Disney DIS $32.25 -0.03 0.09% 19,597,428 NYSE
DuPont DD $33.67 -0.38 1.12% 4,254,874 NYSE
ExxonMobil XOM $68.19 -0.58 0.84% 18,735,593 NYSE
GE $15.13 -0.22 1.43% 44,264,229 NYSE
Hewlett-Packard HPQ $51.51 -1.42 2.68% 13,784,816 NYSE
Home Depot HD $28.93 -0.20 0.69% 7,397,950 NYSE
Intel INTC $20.4 -0.19 0.92% 24,877,847 NASDAQ-GS
IBM $130.9 -1.67 1.26% 4,181,980 NYSE
J.P.Morgan Chase JPM $41.67 +0.14 0.34% 19,927,935 NYSE
Johnson & Johnson JNJ $64.41 -0.50 0.77% 6,900,157 NYSE
Kraft KFT $27.18 -0.31 1.13% 5,191,146 NYSE
McDonald's MCD $62.44 -0.45 0.72% 4,465,505 NYSE
Microsoft MSFT $30.48 -0.48 1.55% 29,988,546 NASDAQ-GS
Pfizer PFE $18.19 -0.31 1.68% 25,553,774 NYSE
Procter & Gamble PG $60.63 -0.74 1.21% 5,728,499 NYSE
3M MMM $82.67 -1.23 1.47% 2,030,297 NYSE
Travelers TRV $49.86 -0.40 0.8% 2,278,373 NYSE
United Technologies UTX $69.41 -1.08 1.53% 2,623,338 NYSE
Verizon VZ $33.13 -0.29 0.87% 7,462,957 NYSE
WalMart WMT $53.45 -0.85 1.57% 9,726,227 NYSE
******************
Here are the CEOs of the Dow 30 Companies:
T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
Thursday, December 31, 2009
12/31/09 Thurs. am J&J in Setback Over Antibiotic
WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM
The following paragraph is a personal message and not stock market related: Best wishes for a healthy, happy, and prosperous 2010. These daily reports published every day since July 15, 2009 have helped me learn about the Dow Jones 30 components and I hope you have learned something as well. Based on the increasing hits, I believe that is the case but this Blog is not about the numbers. It is about dispensing with the silly notion that one can predict the future with any certainty and, instead, focuses on studying the facts about one segment of the stock market which, as a side benefit, may better the odds in your favor in the giant casino we call the stock market if you choose to place a bet. So long as this is fun, it will continue. Again, thank you for reading this and thank you for your emails. I try to respond quickly to each one. Be safe. Sorry about the typos. Dan Kolber
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #289 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
A read of Thursday's 12/31/09 print editions of: The Wall St. Journal, Financial Times, The New York Times, USA Today, Atlanta Journal Constitution & (Ga) Daily Report 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:
Dow: The Dow Jones Industrial Average closed Wednesday at 10,548.1 up 3.1 or 0.03% from Tuesday's close of 10,545.41. For the year, the Dow is up 20.19%. Of the 30 Dow Companies: 12 gained and 18 declined. The biggest gainer dollar-wise was IBM $132.57 +0.72 0.55% 3,863,874 NYSE and percentage-wise was AA Alcoa 16.3 +0.27 1.68% 18,262,623 NYSE. The biggest decliner dollar-wise was McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE and percentage-wise was Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS.
WSJ pC1 "With Day Left, Dow up 20%" by Peter A. Mckay stays stocks eked out a small gain to close at a '09 high, s tech stocks advanced. The Dow closed up 61% from its March low. Treasury prices rose to a yield of 3.786%, the Dollar was up to $1.4336 vs. the Euro and oil was up to $79.28 a barrel.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
WSJ pA1 Headline "2009: Banner Year for Stocks" by Joanna Slater says the US stock market is poised to end '09 with a comeback of historic proportions, with the Dow JJones Industrial Average up 61% from its March nadir and 20% for the year. But the history of such rebounds suggests the biggest gains may already be over, making it hard to expect a blockbuster 2010. With one trading day remaining in '09, the Dow is on track for its biggest annual gain since '03, when it rose 25%.
Fin Times p20 "Chipmakers prove a bright spot in lacklustre trading" by Samantha Pearson says US stocks struggled to push higher as the dollar strengthened and investors looked ahead to the end of the year. The dollar climbed to a 3 month high against the yen as investors anticipated tighter monetary policy next year, reducing the appeal of equities. Pfizer, the world's largest pharmaceutical firm, announced that it had halted trials fora new treatment for lung cancer. Pfizer said it had stopped enrolling patients for the study after an apparent imbalance between the number of deaths and complications among patients taking the medicine and those in control groups. Its shares were down 0.3%.
Investors Business Daily pA1 "Stocks Mostly Flat In Sleepwalk Toward 2009s End" by Paul Whitfield says stocks trreaded water Wed moving little up or down as the indexes finished mostly flat. Wednesday's action was flat in higher volume. The current outlook is the market is in a confirmed up trend.
USA Today p4B "Factory report helps hold stocks steady" by AP says stocks ended the next to last day of '09 little changed as welcome news on manufacturing helped offset a drop in commodities prices. The market drew support from a key economic indicator that signaled growth in the Midwest manufacturing industry for a third consecutive month. The Chicago Purchasing Managers index rose to 60 in Dec from 56.1 in Nov. The report showed that production and new orders increased and employment improved.
As of the open of the market Thursday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 unchanged from Wednesday's 18.30 (year ago it was 18.33) the P/E estimate is 16.00 unchanged from Wednesday (year ago it was 10.62) and the current dividend yield is 2.61 down from Wed.'s 2.62 (it was 3.58 a year ago).
Wednesday's Dow Jones Industrial Average closing numerator was 1395.72 up 0.37 from Tuesday's closing Dow numerator of 1395.35. 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 0.37 for Monday by the divisor you get the increase in Monday's Dow close of 3.1.
The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 46.52 up 0.01 from Tuesday's Dow Jones Industrial Average closing price of $46.51. The median closing price of Wednesday's Dow Jones Industrial Average was 41.17 down 0.02 from Monday's $41.19. The lowest volume Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE and the highest volume again was Bank of Am BAC $15.07 -0.05 0.33% 86,049,833 NYSE.
If Wednesday 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 $30 ($139,560 - $139,530).
AT&T T $28.32 -0.02 0.07% 23,498,430 NYSE: USA Today p3B "US credit fees bug world" by Kathy Chu says the British credit card market was once a relatively sleepy one made up of loyal borrowers and debt averse older consumers. Much of that changed with the debut of a popular American export: a credit card with no annual fee and a low interest rate. In a side bar showing the chronology of the global reach of US bank practices it states that in 1990 US phone company AT&T rolled out a no annual fee credit card. Other banks, including Citigroup, adopted this odel in subsequent years.
Alcoa AA $16.3 +0.27 1.68% 18,262,623 NYSE: WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
American Express AXP $40.8 -0.08 0.2% 3,546,054 NYSE: No mentions found.
Bank of America BAC $15.07 -0.05 0.33% 86,049,833 NYSE: WSJ pB1 in a story about the country's largest independent digital marketing firms, iCrossing by Suzanne Vranica says that firm has hired Bank of America to explore strategic options after it received an unsolicited bid from Hearst Corp. which iCrossing deemed too low and decided to solicit other potential buyers.
Boeing BA $54.96 -0.25 0.45% 2,438,026 NYSE: No mentions found.
Caterpillar CAT $58.05 -0.13 0.22% 3,476,434 NYSE: No mentions found.
Chevron CVX $77.65 +0.44 0.57% 4,288,545 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Chevron is listed at Number 5.
Cisco CSCO $24.18 +0.08 0.33% 17,166,997 NASDAQ-GS: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
Coca-Cola KO $57.68 -0.06 0.1% 4,798,536 NYSE: NYT pB3 "Looking for a Familar FAce, and Finding a Coke" by Stephanie Clifford says Coke has a Facebook application called the "Coke Zero Facial Profiler" which is an entertaining game based on the theme that if Coke tastes like Coke Zero, could someone out there look like you. The app has you submit your photo and its finds someone on the Facebook that looks like you.
AJC pA11 "Coke may distribute Hansen's Peace Tea" by Jeremiah McWilliams says the newest tea from Hansen Natural Corp has a 60s themmed image. Hansen is in talks with Coca-Cola Co. of Atlanta and some of its main bottlers, hoping to get Peace Tea into the Coke distribution system in a matter of week.s The read to drink tea category already includes market leader AriZona as well as drinks from Snapple, coca-Cola and Pepsi.
Disney DIS $32.28 0.10 0.31% 6,692,426 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Disney is listed at Number 10.
DuPont DD $34.05 +0.17 0.5% 4,135,256 NYSE: No mentions found.
ExxonMobil XOM $68.77 -0.07 0.1% 19,836,805 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and ExxonMobil is listed at Number 11.
GE $15.35 -0.09 0.58% 44,751,286 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and GE is listed at Number 12.
Hewlett-Packard HPQ $52.93 +0.36 0.68% 6,614,936 NYSE: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease. Hewlett-Packard's CEO Mark Hurd is said to be optimistic for 2010.
Home Depot HD $29.13 -0.14 0.48% 5,697,103 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Home Depot is listed at Number 15.
Intel INTC $20.59 +0.188 0.92% 26,188,208 NASDAQ-GS: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
IBM $132.57 +0.72 0.55% 3,863,874 NYSE: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
J.P.Morgan Chase JPM $41.53 +0.04 0.1% 15,280,476 NYSE: No mentions found.
Johnson & Johnson JNJ $64.91 -0.03 0.05% 5,594,079 NYSE: WSJ pB3 "J&J in Setback Over Antibiotic" by Jonathan D. Rockoff, Julia Mengewein says US health regulators rejected a promising antibiotic being developed by Johnson & Johnson and Swiss partner Basilea Pharmaceutica AG for complicated skin infections, telling the firms it had serious questions about the reliability of late stage clinical trials J&J conducted to make the case for approving the drug. The firms said the FDA would require add'l studies before approving superdrug ceftobiprole, a condition that analysts said could delay its reaching the market for as long as 3 more years. Investors responded by cutting tiny Basel based Basilea's market value by nearly 20%. J&J's Cilag GmbH Int'l unit licensed world -wide rights to ceftobiprole in '05. The drug tries to treat skin and soft tissue infections, including diabetic foot infections. J&J and Basilea have touted the drug as a novel agent agaisnt antibiotic resistant bacteria, including methicillin-resistant Stahylococcus aureurs, or MRSA. Analysts estimated annual sales of up to $300 mil for the drug if approved to treat skin infections, and $1 bil if permitted for other uses.
Kraft KFT $27.49 +0.04 0.15% 5,059,301 NYSE: WSJ pB3 & IBD pA2 say the UK Takeover Panel said Wed that it had extended the deadline to allow Cadbury to disclose any new info about the bid by Kraft to buy it. Cadbury had faced a deadline of jan 12 for publishing new info about the hostile takeover, but the deadline is now extended to Jan. 15, while the last date for Kraft to revise its offer remains Jan. 19.
McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE: NYT pB1 "At McDonald's, A Retirement Stirs Questions On Succession" by William Neuman says after McDonald's lost 2 CEOs to fatal illness in rapid succession in '04, the firm was praised for managing a smooth transition. But the unexpected departure this month of its No. 2 exec, Ralph Alvarez, raises concerns that the fast food giant may have lost its touch in planning for changes at the top. Now there is no likely successor to James A. Skinner, the ceo,, and the departures of Alvarez and Alvarez's predecessor, Michael J. Roberts, who aburptly resigned in '06, could signal deeper problems.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
Merck MRK $37.06 -0.04 0.11% 9,364,637 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Merck is listed at Number 20.
Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
Pfizer PFE $18.5 -0.06 0.32% 18,172,238 NYSE: Fin Times p20 "Chipmakers prove a bright spot in lacklustre trading" by Samantha Pearson says US stocks struggled to push higher as the dollar strengthened and investors looked ahead to the end of the year. The dollar climbed to a 3 month high against the yen as investors anticipated tighter monetary policy next year, reducing the appeal of equities. Pfizer, the world's largest pharmaceutical firm, announced that it had halted trials fora new treatment for lung cancer. Pfizer said it had stopped enrolling patients for the study after an apparent imbalance between the number of deaths and complications among patients taking the medicine and those in control groups. Its shares were down 0.3%.
AJC pA12 says Pfizer says the FDA is again extending its review of Prevnar 13, a children's penumococcal vaccine. The FDA was scheduled to make a decision by Sept 30, but that deadline was extended by 3 months. Prevnar 13 is intended to reduce the risk of infection by 13 types of pneuococcal disease, which can cause ear infections, meningitis, pneumonia and blood infections. It is a new version of a vaccine that has been on the market for nine years, and considered one of the most important products Pfizer acquired when it bought rival Wyeth for $68 bil this year.
Procter & Gamble PG $61.37 -0.21 0.34% 5,585,420 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Procter & Gamble is listed at Number 26.
3M MMM $83.9 -0.23 0.27% 2,592,796 NYSE: No mentions found.
Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE: WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
United Technologies UTX $70.49 +0.19 0.27% 2,188,777 NYSE: No mentions found.
Verizon VZ $33.42 -0.01 0.03% 13,156,995 NYSE: IBD pB5 "Verizon's Andorid Looks To Convert Old Phone Users" by Patrick Cain says telecom is one of the fe dependable high dividend yielding industries. Verizon is the No. 2 US telecom and its dividend yield is 5.7%. The firm does more than just cell phone service. A big part of its biz is enterprise landlines, that is, office phones. Verizon's mobile biz is still growing. Just 23% of its consumer base uses costlier smart phones so there is a growth opportunity for Verizon to tap into that existing 77% of its customers that don't use costlier smart phones.
Walmart WMT $54.3 +0.19 0.35% 6,784,086 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and WalMart is listed at Number 29.
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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 who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
The following paragraph is a personal message and not stock market related: Best wishes for a healthy, happy, and prosperous 2010. These daily reports published every day since July 15, 2009 have helped me learn about the Dow Jones 30 components and I hope you have learned something as well. Based on the increasing hits, I believe that is the case but this Blog is not about the numbers. It is about dispensing with the silly notion that one can predict the future with any certainty and, instead, focuses on studying the facts about one segment of the stock market which, as a side benefit, may better the odds in your favor in the giant casino we call the stock market if you choose to place a bet. So long as this is fun, it will continue. Again, thank you for reading this and thank you for your emails. I try to respond quickly to each one. Be safe. Sorry about the typos. Dan Kolber
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #289 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
A read of Thursday's 12/31/09 print editions of: The Wall St. Journal, Financial Times, The New York Times, USA Today, Atlanta Journal Constitution & (Ga) Daily Report 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:
Dow: The Dow Jones Industrial Average closed Wednesday at 10,548.1 up 3.1 or 0.03% from Tuesday's close of 10,545.41. For the year, the Dow is up 20.19%. Of the 30 Dow Companies: 12 gained and 18 declined. The biggest gainer dollar-wise was IBM $132.57 +0.72 0.55% 3,863,874 NYSE and percentage-wise was AA Alcoa 16.3 +0.27 1.68% 18,262,623 NYSE. The biggest decliner dollar-wise was McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE and percentage-wise was Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS.
WSJ pC1 "With Day Left, Dow up 20%" by Peter A. Mckay stays stocks eked out a small gain to close at a '09 high, s tech stocks advanced. The Dow closed up 61% from its March low. Treasury prices rose to a yield of 3.786%, the Dollar was up to $1.4336 vs. the Euro and oil was up to $79.28 a barrel.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
WSJ pA1 Headline "2009: Banner Year for Stocks" by Joanna Slater says the US stock market is poised to end '09 with a comeback of historic proportions, with the Dow JJones Industrial Average up 61% from its March nadir and 20% for the year. But the history of such rebounds suggests the biggest gains may already be over, making it hard to expect a blockbuster 2010. With one trading day remaining in '09, the Dow is on track for its biggest annual gain since '03, when it rose 25%.
Fin Times p20 "Chipmakers prove a bright spot in lacklustre trading" by Samantha Pearson says US stocks struggled to push higher as the dollar strengthened and investors looked ahead to the end of the year. The dollar climbed to a 3 month high against the yen as investors anticipated tighter monetary policy next year, reducing the appeal of equities. Pfizer, the world's largest pharmaceutical firm, announced that it had halted trials fora new treatment for lung cancer. Pfizer said it had stopped enrolling patients for the study after an apparent imbalance between the number of deaths and complications among patients taking the medicine and those in control groups. Its shares were down 0.3%.
Investors Business Daily pA1 "Stocks Mostly Flat In Sleepwalk Toward 2009s End" by Paul Whitfield says stocks trreaded water Wed moving little up or down as the indexes finished mostly flat. Wednesday's action was flat in higher volume. The current outlook is the market is in a confirmed up trend.
USA Today p4B "Factory report helps hold stocks steady" by AP says stocks ended the next to last day of '09 little changed as welcome news on manufacturing helped offset a drop in commodities prices. The market drew support from a key economic indicator that signaled growth in the Midwest manufacturing industry for a third consecutive month. The Chicago Purchasing Managers index rose to 60 in Dec from 56.1 in Nov. The report showed that production and new orders increased and employment improved.
As of the open of the market Thursday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 unchanged from Wednesday's 18.30 (year ago it was 18.33) the P/E estimate is 16.00 unchanged from Wednesday (year ago it was 10.62) and the current dividend yield is 2.61 down from Wed.'s 2.62 (it was 3.58 a year ago).
Wednesday's Dow Jones Industrial Average closing numerator was 1395.72 up 0.37 from Tuesday's closing Dow numerator of 1395.35. 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 0.37 for Monday by the divisor you get the increase in Monday's Dow close of 3.1.
The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 46.52 up 0.01 from Tuesday's Dow Jones Industrial Average closing price of $46.51. The median closing price of Wednesday's Dow Jones Industrial Average was 41.17 down 0.02 from Monday's $41.19. The lowest volume Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE and the highest volume again was Bank of Am BAC $15.07 -0.05 0.33% 86,049,833 NYSE.
If Wednesday 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 $30 ($139,560 - $139,530).
AT&T T $28.32 -0.02 0.07% 23,498,430 NYSE: USA Today p3B "US credit fees bug world" by Kathy Chu says the British credit card market was once a relatively sleepy one made up of loyal borrowers and debt averse older consumers. Much of that changed with the debut of a popular American export: a credit card with no annual fee and a low interest rate. In a side bar showing the chronology of the global reach of US bank practices it states that in 1990 US phone company AT&T rolled out a no annual fee credit card. Other banks, including Citigroup, adopted this odel in subsequent years.
Alcoa AA $16.3 +0.27 1.68% 18,262,623 NYSE: WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
American Express AXP $40.8 -0.08 0.2% 3,546,054 NYSE: No mentions found.
Bank of America BAC $15.07 -0.05 0.33% 86,049,833 NYSE: WSJ pB1 in a story about the country's largest independent digital marketing firms, iCrossing by Suzanne Vranica says that firm has hired Bank of America to explore strategic options after it received an unsolicited bid from Hearst Corp. which iCrossing deemed too low and decided to solicit other potential buyers.
Boeing BA $54.96 -0.25 0.45% 2,438,026 NYSE: No mentions found.
Caterpillar CAT $58.05 -0.13 0.22% 3,476,434 NYSE: No mentions found.
Chevron CVX $77.65 +0.44 0.57% 4,288,545 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Chevron is listed at Number 5.
Cisco CSCO $24.18 +0.08 0.33% 17,166,997 NASDAQ-GS: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
Coca-Cola KO $57.68 -0.06 0.1% 4,798,536 NYSE: NYT pB3 "Looking for a Familar FAce, and Finding a Coke" by Stephanie Clifford says Coke has a Facebook application called the "Coke Zero Facial Profiler" which is an entertaining game based on the theme that if Coke tastes like Coke Zero, could someone out there look like you. The app has you submit your photo and its finds someone on the Facebook that looks like you.
AJC pA11 "Coke may distribute Hansen's Peace Tea" by Jeremiah McWilliams says the newest tea from Hansen Natural Corp has a 60s themmed image. Hansen is in talks with Coca-Cola Co. of Atlanta and some of its main bottlers, hoping to get Peace Tea into the Coke distribution system in a matter of week.s The read to drink tea category already includes market leader AriZona as well as drinks from Snapple, coca-Cola and Pepsi.
Disney DIS $32.28 0.10 0.31% 6,692,426 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Disney is listed at Number 10.
DuPont DD $34.05 +0.17 0.5% 4,135,256 NYSE: No mentions found.
ExxonMobil XOM $68.77 -0.07 0.1% 19,836,805 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and ExxonMobil is listed at Number 11.
GE $15.35 -0.09 0.58% 44,751,286 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and GE is listed at Number 12.
Hewlett-Packard HPQ $52.93 +0.36 0.68% 6,614,936 NYSE: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease. Hewlett-Packard's CEO Mark Hurd is said to be optimistic for 2010.
Home Depot HD $29.13 -0.14 0.48% 5,697,103 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Home Depot is listed at Number 15.
Intel INTC $20.59 +0.188 0.92% 26,188,208 NASDAQ-GS: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
IBM $132.57 +0.72 0.55% 3,863,874 NYSE: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
J.P.Morgan Chase JPM $41.53 +0.04 0.1% 15,280,476 NYSE: No mentions found.
Johnson & Johnson JNJ $64.91 -0.03 0.05% 5,594,079 NYSE: WSJ pB3 "J&J in Setback Over Antibiotic" by Jonathan D. Rockoff, Julia Mengewein says US health regulators rejected a promising antibiotic being developed by Johnson & Johnson and Swiss partner Basilea Pharmaceutica AG for complicated skin infections, telling the firms it had serious questions about the reliability of late stage clinical trials J&J conducted to make the case for approving the drug. The firms said the FDA would require add'l studies before approving superdrug ceftobiprole, a condition that analysts said could delay its reaching the market for as long as 3 more years. Investors responded by cutting tiny Basel based Basilea's market value by nearly 20%. J&J's Cilag GmbH Int'l unit licensed world -wide rights to ceftobiprole in '05. The drug tries to treat skin and soft tissue infections, including diabetic foot infections. J&J and Basilea have touted the drug as a novel agent agaisnt antibiotic resistant bacteria, including methicillin-resistant Stahylococcus aureurs, or MRSA. Analysts estimated annual sales of up to $300 mil for the drug if approved to treat skin infections, and $1 bil if permitted for other uses.
Kraft KFT $27.49 +0.04 0.15% 5,059,301 NYSE: WSJ pB3 & IBD pA2 say the UK Takeover Panel said Wed that it had extended the deadline to allow Cadbury to disclose any new info about the bid by Kraft to buy it. Cadbury had faced a deadline of jan 12 for publishing new info about the hostile takeover, but the deadline is now extended to Jan. 15, while the last date for Kraft to revise its offer remains Jan. 19.
McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE: NYT pB1 "At McDonald's, A Retirement Stirs Questions On Succession" by William Neuman says after McDonald's lost 2 CEOs to fatal illness in rapid succession in '04, the firm was praised for managing a smooth transition. But the unexpected departure this month of its No. 2 exec, Ralph Alvarez, raises concerns that the fast food giant may have lost its touch in planning for changes at the top. Now there is no likely successor to James A. Skinner, the ceo,, and the departures of Alvarez and Alvarez's predecessor, Michael J. Roberts, who aburptly resigned in '06, could signal deeper problems.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
Merck MRK $37.06 -0.04 0.11% 9,364,637 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Merck is listed at Number 20.
Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS: WSJ pB1 "Tech Firms Jockey Ahead of Recovery" by Don Clark says in a brutal year, tech firms responded by hunkering down and developing new products at a faster rate as they tried to wrest sales from one another. While '10 isn't expected to be a blockbuster, consumers have shown they are still willing to spend on gadgets, at least for hot products like Apple's iPHone and Amazon.com Inc.'s Kindle. Frozen corporate budgets may be thawing, driven by aging equipment, falling hardware prices and new offerings, notably Microsoft's Windows 7. In a side part chart 7 tech firms aare sown as to their R&D spending change from '08 for first three quarters of '09 and Aple is first with almost a 20% increase followed by Google with a 2% increase. The rest all decreased their R&D spending as following: Microsoft 5%, Intel 8%, IBM 10%, Cisco 12% decrease and Motorola with 21% decrease.
WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
Pfizer PFE $18.5 -0.06 0.32% 18,172,238 NYSE: Fin Times p20 "Chipmakers prove a bright spot in lacklustre trading" by Samantha Pearson says US stocks struggled to push higher as the dollar strengthened and investors looked ahead to the end of the year. The dollar climbed to a 3 month high against the yen as investors anticipated tighter monetary policy next year, reducing the appeal of equities. Pfizer, the world's largest pharmaceutical firm, announced that it had halted trials fora new treatment for lung cancer. Pfizer said it had stopped enrolling patients for the study after an apparent imbalance between the number of deaths and complications among patients taking the medicine and those in control groups. Its shares were down 0.3%.
AJC pA12 says Pfizer says the FDA is again extending its review of Prevnar 13, a children's penumococcal vaccine. The FDA was scheduled to make a decision by Sept 30, but that deadline was extended by 3 months. Prevnar 13 is intended to reduce the risk of infection by 13 types of pneuococcal disease, which can cause ear infections, meningitis, pneumonia and blood infections. It is a new version of a vaccine that has been on the market for nine years, and considered one of the most important products Pfizer acquired when it bought rival Wyeth for $68 bil this year.
Procter & Gamble PG $61.37 -0.21 0.34% 5,585,420 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and Procter & Gamble is listed at Number 26.
3M MMM $83.9 -0.23 0.27% 2,592,796 NYSE: No mentions found.
Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE: WSJ pC5 "Alcoa Advances 1.7%, Helping Dow Tick Up" by Donnna Kardos Yesalavich says stocks closed slightly higher, with Alcoa, Intel and Travelers among the gainers as data showed manufacturing improved in some regions. Alcoa was the Dow's best performer, up 27 cents, or 1.7%, after the US Int'l Trade Commission sided with US steelmakers in a case over Chinese steel, opening the door to new duties of up to 16% on steel pipes from China. The Dow's close was its highest close in nearly 15 months. Wed. marked its 7th session of gains in the past 8 trading days. Intel climbed 0.9% while Travelers rose 0.8%. Microsoft kept the Dow's gains in check along with MacDonald's. Stocks spent much of Wed's session slightly lower or near flat before turning positive at the close. Volume was light ahead of the New Year's Day holiday on Friday.
United Technologies UTX $70.49 +0.19 0.27% 2,188,777 NYSE: No mentions found.
Verizon VZ $33.42 -0.01 0.03% 13,156,995 NYSE: IBD pB5 "Verizon's Andorid Looks To Convert Old Phone Users" by Patrick Cain says telecom is one of the fe dependable high dividend yielding industries. Verizon is the No. 2 US telecom and its dividend yield is 5.7%. The firm does more than just cell phone service. A big part of its biz is enterprise landlines, that is, office phones. Verizon's mobile biz is still growing. Just 23% of its consumer base uses costlier smart phones so there is a growth opportunity for Verizon to tap into that existing 77% of its customers that don't use costlier smart phones.
Walmart WMT $54.3 +0.19 0.35% 6,784,086 NYSE: USA Today p4B "Readers' choice stocks" lsits the stocks that appear most in portfolios at USATODAY.com and WalMart is listed at Number 29.
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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 who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
Wednesday, December 30, 2009
12/30/09 Wed pm Dow Closes 10548.1 up 3.1 or 0.03%
WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #288 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
The Dow Jones Industrial Average closed Wednesday at 10,548.1 up 3.1 or 0.03% from Tuesday's close of 10,545.41. Of the 30 Dow Companies: 12 gained and 18 declined. The biggest gainer dollar-wise was IBM $132.57 +0.72 0.55% 3,863,874 NYSE and percentage-wise was AA Alcoa 16.3 +0.27 1.68% 18,262,623 NYSE. The biggest decliner dollar-wise was McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE and percentage-wise was Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS.
As of the open of the market Wednesday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 up from Tues's 18.10 (year ago it was 18.10) the P/E estimate is 16.00 unchanged from Tuesday (year ago it was 10.33) and the current dividend yield is 2.62 unchanged from Tues.'s 2.62 (it was 3.62 a year ago).
Wednesday's Dow Jones Industrial Average closing numerator was 1395.72 up 0.37 from Tuesday's closing Dow numerator of 1395.35. 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 0.37 for Monday by the divisor you get the increase in Monday's Dow close of 3.1.
The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 46.52 up 0.01 from Tuesday's Dow Jones Industrial Average closing price of $46.51. The median closing price of Wednesday's Dow Jones Industrial Average was 41.17 down 0.02 from Monday's $41.19. The lowest volume Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE and the highest volume again was Bank of Am BAC $15.07 -0.05 0.33% 86,049,833 NYSE.
If Wednesday 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 $30 ($139,560 - $139,530).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $28.32 -0.02 0.07% 23,498,430 NYSE
Alcoa AA $16.3 +0.27 1.68% 18,262,623 NYSE
American Express AXP $40.8 -0.08 0.2% 3,546,054 NYSE
Bank of America BAC $15.07 -0.05 0.33% 86,049,833 NYSE
Boeing BA $54.96 -0.25 0.45% 2,438,026 NYSE
Caterpillar CAT $58.05 -0.13 0.22% 3,476,434 NYSE
Chevron CVX $77.65 +0.44 0.57% 4,288,545 NYSE
Cisco CSCO $24.18 +0.08 0.33% 17,166,997 NASDAQ-GS
Coca-Cola KO $57.68 -0.06 0.1% 4,798,536 NYSE
Disney DIS $32.28 0.10 0.31% 6,692,426 NYSE
DuPont DD $34.05 +0.17 0.5% 4,135,256 NYSE
ExxonMobilXOM $68.77 -0.07 0.1% 19,836,805 NYSE
GE $15.35 -0.09 0.58% 44,751,286 NYSE
Hewlett-Packard HPQ $52.93 +0.36 0.68% 6,614,936 NYSE
Home Depot HD $29.13 -0.14 0.48% 5,697,103 NYSE
Intel INTC $20.59 +0.188 0.92% 26,188,208 NASDAQ-GS
IBM $132.57 +0.72 0.55% 3,863,874 NYSE
J.P.Morgan Chase JPM $41.53 +0.04 0.1% 15,280,476 NYSE
Johnson & Johnson JNJ $64.91 -0.03 0.05% 5,594,079 NYSE
Kraft KFT $27.49 +0.04 0.15% 5,059,301 NYSE
McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE
Merck MRK $37.06 -0.04 0.11% 9,364,637 NYSE
Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS
Pfizer PFE $18.5 -0.06 0.32% 18,172,238 NYSE
Procter & Gamble PG $61.37 -0.21 0.34% 5,585,420 NYSE
3M MMM $83.9 -0.23 0.27% 2,592,796 NYSE
Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE
United Technologies UTX $70.49 +0.19 0.27% 2,188,777 NYSE
Verizon VZ $33.42 -0.01 0.03% 13,156,995 NYSE
Walmart WMT $54.3 +0.19 0.35% 6,784,086 NYSE
*********************
The following excerpts are from Wed. morning's Blog:
A read of Wednesday's 12/30/09 print editions of: The Wall St. Journal, Financial Times, The New York Times, USA Today, Atlanta Journal Constitution & (Ga) Daily Report 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 10,545.41 down 1.67 or 0.2% from Monday's close of 10,545.41.The Dow is down 26% from its record close of 14,164.3 on Oct. 9, 2007. The Dow is up 19% on the month and 20% on the year. Of the 30 Dow Companies: 14 gained, 1, Johnson & Johnson was unchanged and 15 declined. The biggest gainer dollar-wise was 3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE and percentage-wise was Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE. The biggest decliner dollar-wise was Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE and percentage-wise was BAC $15.12 -0.17 1.11% 82,674,972 NYSE.
WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while anotehr report showed the decline in home prices slowed in Oct.
WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute afer Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Fin Times p20 "Slide in energy puts the brakes on retail inspired rally" by Samantha Pearson says Wall St. broke its six day winning streak yesterday after the stronger dollar dragged energy stocks lower. The market spent most of the morning in positive territory and was poised to record its longest period of gains since Oct '06 but a burst of strength in the dollar just before midday dragged the S&P 500 energy sector down 0.7%, pushing Wall St. in and out of the red in the afternoon.
NYT pB6 "Wall St. Cool to Positive Economic Data" by AP says in a day of lackluster trading, Wall St. stumbled, ever so slightly for the first time since 12/17. All 3 major indexes closed lower as reports on home prices and consumer confidence did little to excite buyers.
USA Today p4B "Markets drop for 1st time in 7 sessions" by Bloomberg says stocks fell for the first time in 7 trading sessions Tues as drops in energy, financial and technology firms snuffed out an early gain on reports that home prices rose in Oct. and consumer confidence increased.
Tuesday's Dow Jones Industrial Average closing numerator was 1395.35 down 0.16 from Thursday's closing Dow numerator of 1395.58. 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 0.16 for Monday by the divisor you get the decrease in Monday's Dow close of 1.67.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 46.51 down 0.01 from Monday's Dow Jones Industrial Average closing price of $46.52. The median closing price of Tuesday's Dow Jones Industrial Average was 41.19 down 0.19 from Monday's $41.38. The lowest volume Monday was Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE and the highest volume again was Bank of Am BAC $15.12 -0.17 1.11% 82,674,972 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 lost $30 ($139,560 - $139,530).
AT&T T $28.34 +0.01 0.04% 15,888,304 NYSE: "It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
Alcoa AA $16.03 -0.07 0.43% 14,246,194 NYSE: No mentions found.
American Express AXP $40.88 -0.17 0.41% 4,438,131 NYSE: No mentions found.
Bank of America BAC $15.12 -0.17 1.11% 82,674,972 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
WSJ pC5 "As Sleepy Markets Sap Brokers, BofA Merrill Cuts Rivals' Numbers" by Matt Phillips says BofA Merrill Lynch analysts cut their 4Q earnings estimates for Goldman Sachs and JPMorgan Chase. The seasonal deceleration started in mid-Nov and the decline in stock market volume has continued throughout the quarter. BofA Merrill cuts its 4Q earnings per share estimate on JPMorgan Chase to 0.68 from 0.71 citing sluggish trading.
Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE: No mentions found.
Caterpillar CAT $58.18 -0.33 0.56% 2,871,219 NYSE: No mentions found.
Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green most of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
Cisco CSCO $24.1 +0.02 0.08% 21,886,912 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.74 +0.30 0.52% 4,770,733 NYSE: No mentions found.
Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
"It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
DuPont DD $33.88 +0.18 0.53% 4,827,731 NYSE: No mentions found.
ExxonMobil XOM $68.84 0.24 0.35% 19,979,870 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
WSJ pB2 "Energy Firms Think Long Term" by Ben Casselman, Rebecca Smith says that in a sign that low natural gas prices are here to stay, big US energy firms are pushing to sign long term contracts with electric utilities and other customers. The story notes that earlier this month Exxon Mobil agreed to buy US natural gas producer XTO Energy in a $31 bil stock deal that was widely seen as an endorsement of the new gas fields' long term viability. Exxon has experience with long term sales contracts through its large liquefied natural gas operations overseas, and many experts think the firm will pursue them in the US although Exxon hasn't discussed its plans.
GE $15.44 +0.10 0.65% 48,312,993 NYSE: No mentions found.
Hewlett-Packard HPQ $52.57 -0.19 0.36% 6,965,548 NYSE: No mentions found.
Home Depot HD $29.27 +0.09 0.31% 6,901,496 NYSE: No mentions found.
Intel INTC $20.402 +0.102 0.5% 29,242,134 NASDAQ-GS: WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
IBM $131.85 -0.46 0.35% 4,183,881 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.49 -0.23 0.55% 15,590,071 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Johnson & Johnson JNJ $64.94 unch unch 6,657,435 NYSE: No mentions found.
Kraft KFT $27.45 -0.03 0.11% 5,233,327 NYSE: No mentions found.
McDonald's MCD $63.59 -0.02 0.03% 2,628,706 NYSE: USA Today p3B "How McDonald's makes suare its burgers are safe" by Elizabveth Weise says cDonaldj's si considered on of the best, if not the best, firm in the US, when it comes to food safety. The story describes the safety measures MCD takes to ensure its food is safe.
Merck MRK $37.1 -0.19 0.51% 7,508,580 NYSE: No mentions found.
Microsoft MSFT $31.39 +0.22 0.71% 29,489,805 NASDAQ-GS: WSJ pC12 "Microsoft Needs to Get More Mobile" by Martin Peers says Microsoft's diminishing profile in the mobile world is the talk of Silicon Valley. The explosion of mobile applications on devices like Apple's iPhone and Motorola's Droid presages far reaching changes in consumer behavior. Google gets that. Aside from helping develop the Android mobile operating system, the firm plans to buy mobile ad firm AdMob. And Google is now working on plans to sell its own phone. In a side bar of mobile operating system market shares, the rankings are as following: Symbian with 44.6% market share, Research in Motion, 20.8%, iPHone OS 17.1% market share, Microsoft Windows Mobile with 7.9% market share for 3Q '09 down from 11.1% in 3Q '08, followed by Linux and Android at 4.7% and 3.5% respectively.
WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
Pfizer PFE $18.56 -0.07 0.38% 19,648,465 NYSE: WSJ pB3 and AJC pA14 say Pfizer said Tues it ended a Phase 3 study for an experimental lung cancer drug called figitumumab that had been associated with an unexpected number of deaths in testing among patients. The drug was being tested for patients with non-adenocarcinoma, nonsmall-cell lung cancer. Pfizer will still test other uses of the compound, which belongs to a promising class of drugs called IFG-1R inhibitors that aim to block a substance in the body thought to stimulate growth of cancer cells. The drug could have made more than $1 bil in sales in 2015 if it had been approved by regulators.
Procter & Gamble PG $61.58 +0.33 0.54% 7,156,013 NYSE: No mentions found.
3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE: No mentions found.
Travelers TRV $49.87 +0.04 0.08% 2,290,976 NYSE: No mentions found.
United Technologies UTX $70.3 -0.16 0.23% 2,265,969 NYSE: No mentions found.
Verizon VZ $33.43 -0.06 0.18% 7,786,672 NYSE: WSJ pB3 "Hacker Finds Cracks In Cellphone Code" by Niraj Sheth, Vanessa Fuhrmans says a German hacker claims to have cracked the encryption that protects most cellphone calls potentially paving the way for others to eavesdrop on conversation. This would be a threat to many wireless carriers who have used the same security on their networks for years. The hacker is expected to demonstrate his method on Wed. In the US, AT&T and Deutsche Telekom AG's T-MMobilerun on GSM technology which is the type being hacked. Rivals Verizon Wireless, a jv of Verizon Comunications Inc. and Vodafone PLC, and Sprint Nextel operaes on a competing technology called CDMA.
WalMart WMT $54.11 +0.13 0.24% 7,176,547 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 who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #288 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
The Dow Jones Industrial Average closed Wednesday at 10,548.1 up 3.1 or 0.03% from Tuesday's close of 10,545.41. Of the 30 Dow Companies: 12 gained and 18 declined. The biggest gainer dollar-wise was IBM $132.57 +0.72 0.55% 3,863,874 NYSE and percentage-wise was AA Alcoa 16.3 +0.27 1.68% 18,262,623 NYSE. The biggest decliner dollar-wise was McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE and percentage-wise was Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS.
As of the open of the market Wednesday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 up from Tues's 18.10 (year ago it was 18.10) the P/E estimate is 16.00 unchanged from Tuesday (year ago it was 10.33) and the current dividend yield is 2.62 unchanged from Tues.'s 2.62 (it was 3.62 a year ago).
Wednesday's Dow Jones Industrial Average closing numerator was 1395.72 up 0.37 from Tuesday's closing Dow numerator of 1395.35. 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 0.37 for Monday by the divisor you get the increase in Monday's Dow close of 3.1.
The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 46.52 up 0.01 from Tuesday's Dow Jones Industrial Average closing price of $46.51. The median closing price of Wednesday's Dow Jones Industrial Average was 41.17 down 0.02 from Monday's $41.19. The lowest volume Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE and the highest volume again was Bank of Am BAC $15.07 -0.05 0.33% 86,049,833 NYSE.
If Wednesday 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 $30 ($139,560 - $139,530).
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $28.32 -0.02 0.07% 23,498,430 NYSE
Alcoa AA $16.3 +0.27 1.68% 18,262,623 NYSE
American Express AXP $40.8 -0.08 0.2% 3,546,054 NYSE
Bank of America BAC $15.07 -0.05 0.33% 86,049,833 NYSE
Boeing BA $54.96 -0.25 0.45% 2,438,026 NYSE
Caterpillar CAT $58.05 -0.13 0.22% 3,476,434 NYSE
Chevron CVX $77.65 +0.44 0.57% 4,288,545 NYSE
Cisco CSCO $24.18 +0.08 0.33% 17,166,997 NASDAQ-GS
Coca-Cola KO $57.68 -0.06 0.1% 4,798,536 NYSE
Disney DIS $32.28 0.10 0.31% 6,692,426 NYSE
DuPont DD $34.05 +0.17 0.5% 4,135,256 NYSE
ExxonMobilXOM $68.77 -0.07 0.1% 19,836,805 NYSE
GE $15.35 -0.09 0.58% 44,751,286 NYSE
Hewlett-Packard HPQ $52.93 +0.36 0.68% 6,614,936 NYSE
Home Depot HD $29.13 -0.14 0.48% 5,697,103 NYSE
Intel INTC $20.59 +0.188 0.92% 26,188,208 NASDAQ-GS
IBM $132.57 +0.72 0.55% 3,863,874 NYSE
J.P.Morgan Chase JPM $41.53 +0.04 0.1% 15,280,476 NYSE
Johnson & Johnson JNJ $64.91 -0.03 0.05% 5,594,079 NYSE
Kraft KFT $27.49 +0.04 0.15% 5,059,301 NYSE
McDonald's MCD $62.89 -0.70 1.1% 6,773,718 NYSE
Merck MRK $37.06 -0.04 0.11% 9,364,637 NYSE
Microsoft MSFT $30.96 -0.43 1.37% 41,953,914 NASDAQ-GS
Pfizer PFE $18.5 -0.06 0.32% 18,172,238 NYSE
Procter & Gamble PG $61.37 -0.21 0.34% 5,585,420 NYSE
3M MMM $83.9 -0.23 0.27% 2,592,796 NYSE
Travelers TRV $50.26 +0.39 0.78% 1,957,749 NYSE
United Technologies UTX $70.49 +0.19 0.27% 2,188,777 NYSE
Verizon VZ $33.42 -0.01 0.03% 13,156,995 NYSE
Walmart WMT $54.3 +0.19 0.35% 6,784,086 NYSE
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The following excerpts are from Wed. morning's Blog:
A read of Wednesday's 12/30/09 print editions of: The Wall St. Journal, Financial Times, The New York Times, USA Today, Atlanta Journal Constitution & (Ga) Daily Report 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 10,545.41 down 1.67 or 0.2% from Monday's close of 10,545.41.The Dow is down 26% from its record close of 14,164.3 on Oct. 9, 2007. The Dow is up 19% on the month and 20% on the year. Of the 30 Dow Companies: 14 gained, 1, Johnson & Johnson was unchanged and 15 declined. The biggest gainer dollar-wise was 3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE and percentage-wise was Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE. The biggest decliner dollar-wise was Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE and percentage-wise was BAC $15.12 -0.17 1.11% 82,674,972 NYSE.
WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while anotehr report showed the decline in home prices slowed in Oct.
WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute afer Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Fin Times p20 "Slide in energy puts the brakes on retail inspired rally" by Samantha Pearson says Wall St. broke its six day winning streak yesterday after the stronger dollar dragged energy stocks lower. The market spent most of the morning in positive territory and was poised to record its longest period of gains since Oct '06 but a burst of strength in the dollar just before midday dragged the S&P 500 energy sector down 0.7%, pushing Wall St. in and out of the red in the afternoon.
NYT pB6 "Wall St. Cool to Positive Economic Data" by AP says in a day of lackluster trading, Wall St. stumbled, ever so slightly for the first time since 12/17. All 3 major indexes closed lower as reports on home prices and consumer confidence did little to excite buyers.
USA Today p4B "Markets drop for 1st time in 7 sessions" by Bloomberg says stocks fell for the first time in 7 trading sessions Tues as drops in energy, financial and technology firms snuffed out an early gain on reports that home prices rose in Oct. and consumer confidence increased.
Tuesday's Dow Jones Industrial Average closing numerator was 1395.35 down 0.16 from Thursday's closing Dow numerator of 1395.58. 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 0.16 for Monday by the divisor you get the decrease in Monday's Dow close of 1.67.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 46.51 down 0.01 from Monday's Dow Jones Industrial Average closing price of $46.52. The median closing price of Tuesday's Dow Jones Industrial Average was 41.19 down 0.19 from Monday's $41.38. The lowest volume Monday was Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE and the highest volume again was Bank of Am BAC $15.12 -0.17 1.11% 82,674,972 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 lost $30 ($139,560 - $139,530).
AT&T T $28.34 +0.01 0.04% 15,888,304 NYSE: "It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
Alcoa AA $16.03 -0.07 0.43% 14,246,194 NYSE: No mentions found.
American Express AXP $40.88 -0.17 0.41% 4,438,131 NYSE: No mentions found.
Bank of America BAC $15.12 -0.17 1.11% 82,674,972 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
WSJ pC5 "As Sleepy Markets Sap Brokers, BofA Merrill Cuts Rivals' Numbers" by Matt Phillips says BofA Merrill Lynch analysts cut their 4Q earnings estimates for Goldman Sachs and JPMorgan Chase. The seasonal deceleration started in mid-Nov and the decline in stock market volume has continued throughout the quarter. BofA Merrill cuts its 4Q earnings per share estimate on JPMorgan Chase to 0.68 from 0.71 citing sluggish trading.
Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE: No mentions found.
Caterpillar CAT $58.18 -0.33 0.56% 2,871,219 NYSE: No mentions found.
Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green most of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
Cisco CSCO $24.1 +0.02 0.08% 21,886,912 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.74 +0.30 0.52% 4,770,733 NYSE: No mentions found.
Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
"It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
DuPont DD $33.88 +0.18 0.53% 4,827,731 NYSE: No mentions found.
ExxonMobil XOM $68.84 0.24 0.35% 19,979,870 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
WSJ pB2 "Energy Firms Think Long Term" by Ben Casselman, Rebecca Smith says that in a sign that low natural gas prices are here to stay, big US energy firms are pushing to sign long term contracts with electric utilities and other customers. The story notes that earlier this month Exxon Mobil agreed to buy US natural gas producer XTO Energy in a $31 bil stock deal that was widely seen as an endorsement of the new gas fields' long term viability. Exxon has experience with long term sales contracts through its large liquefied natural gas operations overseas, and many experts think the firm will pursue them in the US although Exxon hasn't discussed its plans.
GE $15.44 +0.10 0.65% 48,312,993 NYSE: No mentions found.
Hewlett-Packard HPQ $52.57 -0.19 0.36% 6,965,548 NYSE: No mentions found.
Home Depot HD $29.27 +0.09 0.31% 6,901,496 NYSE: No mentions found.
Intel INTC $20.402 +0.102 0.5% 29,242,134 NASDAQ-GS: WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
IBM $131.85 -0.46 0.35% 4,183,881 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.49 -0.23 0.55% 15,590,071 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Johnson & Johnson JNJ $64.94 unch unch 6,657,435 NYSE: No mentions found.
Kraft KFT $27.45 -0.03 0.11% 5,233,327 NYSE: No mentions found.
McDonald's MCD $63.59 -0.02 0.03% 2,628,706 NYSE: USA Today p3B "How McDonald's makes suare its burgers are safe" by Elizabveth Weise says cDonaldj's si considered on of the best, if not the best, firm in the US, when it comes to food safety. The story describes the safety measures MCD takes to ensure its food is safe.
Merck MRK $37.1 -0.19 0.51% 7,508,580 NYSE: No mentions found.
Microsoft MSFT $31.39 +0.22 0.71% 29,489,805 NASDAQ-GS: WSJ pC12 "Microsoft Needs to Get More Mobile" by Martin Peers says Microsoft's diminishing profile in the mobile world is the talk of Silicon Valley. The explosion of mobile applications on devices like Apple's iPhone and Motorola's Droid presages far reaching changes in consumer behavior. Google gets that. Aside from helping develop the Android mobile operating system, the firm plans to buy mobile ad firm AdMob. And Google is now working on plans to sell its own phone. In a side bar of mobile operating system market shares, the rankings are as following: Symbian with 44.6% market share, Research in Motion, 20.8%, iPHone OS 17.1% market share, Microsoft Windows Mobile with 7.9% market share for 3Q '09 down from 11.1% in 3Q '08, followed by Linux and Android at 4.7% and 3.5% respectively.
WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
Pfizer PFE $18.56 -0.07 0.38% 19,648,465 NYSE: WSJ pB3 and AJC pA14 say Pfizer said Tues it ended a Phase 3 study for an experimental lung cancer drug called figitumumab that had been associated with an unexpected number of deaths in testing among patients. The drug was being tested for patients with non-adenocarcinoma, nonsmall-cell lung cancer. Pfizer will still test other uses of the compound, which belongs to a promising class of drugs called IFG-1R inhibitors that aim to block a substance in the body thought to stimulate growth of cancer cells. The drug could have made more than $1 bil in sales in 2015 if it had been approved by regulators.
Procter & Gamble PG $61.58 +0.33 0.54% 7,156,013 NYSE: No mentions found.
3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE: No mentions found.
Travelers TRV $49.87 +0.04 0.08% 2,290,976 NYSE: No mentions found.
United Technologies UTX $70.3 -0.16 0.23% 2,265,969 NYSE: No mentions found.
Verizon VZ $33.43 -0.06 0.18% 7,786,672 NYSE: WSJ pB3 "Hacker Finds Cracks In Cellphone Code" by Niraj Sheth, Vanessa Fuhrmans says a German hacker claims to have cracked the encryption that protects most cellphone calls potentially paving the way for others to eavesdrop on conversation. This would be a threat to many wireless carriers who have used the same security on their networks for years. The hacker is expected to demonstrate his method on Wed. In the US, AT&T and Deutsche Telekom AG's T-MMobilerun on GSM technology which is the type being hacked. Rivals Verizon Wireless, a jv of Verizon Comunications Inc. and Vodafone PLC, and Sprint Nextel operaes on a competing technology called CDMA.
WalMart WMT $54.11 +0.13 0.24% 7,176,547 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 who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
12/30/09 Wed. am Verizon's Tech May be Hackable Allowing Eavesdropping
WE CAN ALSO BE FOUND AT WWW.DOWJONESMONITOR.COM
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Post #287 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
A read of Wednesday's 12/30/09 print editions of: The Wall St. Journal, Financial Times, The New York Times, USA Today, Atlanta Journal Constitution & (Ga) Daily Report 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 10,545.41 down 1.67 or 0.2% from Monday's close of 10,545.41.The Dow is down 26% from its record close of 14,164.3 on Oct. 9, 2007. The Dow is up 19% on the month and 20% on the year. Of the 30 Dow Companies: 14 gained, 1, Johnson & Johnson was unchanged and 15 declined. The biggest gainer dollar-wise was 3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE and percentage-wise was Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE. The biggest decliner dollar-wise was Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE and percentage-wise was BAC $15.12 -0.17 1.11% 82,674,972 NYSE.
WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while anotehr report showed the decline in home prices slowed in Oct.
WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute afer Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Fin Times p20 "Slide in energy puts the brakes on retail inspired rally" by Samantha Pearson says Wall St. broke its six day winning streak yesterday after the stronger dollar dragged energy stocks lower. The market spent most of the morning in positive territory and was poised to record its longest period of gains since Oct '06 but a burst of strength in the dollar just before midday dragged the S&P 500 energy sector down 0.7%, pushing Wall St. in and out of the red in the afternoon.
NYT pB6 "Wall St. Cool to Positive Economic Data" by AP says in a day of lackluster trading, Wall St. stumbled, ever so slightly for the first time since 12/17. All 3 major indexes closed lower as reports on home prices and consumer confidence did little to excite buyers.
USA Today p4B "Markets drop for 1st time in 7 sessions" by Bloomberg says stocks fell for the first time in 7 trading sessions Tues as drops in energy, financial and technology firms snuffed out an early gain on reports that home prices rose in Oct. and consumer confidence increased.
As of the open of the market Wednesday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 up from Tues's 18.10 (year ago it was 18.10) the P/E estimate is 16.00 unchanged from Tuesday (year ago it was 10.33) and the current dividend yield is 2.62 unchanged from Tues.'s 2.62 (it was 3.62 a year ago).
Tuesday's Dow Jones Industrial Average closing numerator was 1395.35 down 0.16 from Thursday's closing Dow numerator of 1395.58. 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 0.16 for Monday by the divisor you get the decrease in Monday's Dow close of 1.67.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 46.51 down 0.01 from Monday's Dow Jones Industrial Average closing price of $46.52. The median closing price of Tuesday's Dow Jones Industrial Average was 41.19 down 0.19 from Monday's $41.38. The lowest volume Monday was Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE and the highest volume again was Bank of Am BAC $15.12 -0.17 1.11% 82,674,972 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 lost $30 ($139,560 - $139,530).
AT&T T $28.34 +0.01 0.04% 15,888,304 NYSE: "It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
Alcoa AA $16.03 -0.07 0.43% 14,246,194 NYSE: No mentions found.
American Express AXP $40.88 -0.17 0.41% 4,438,131 NYSE: No mentions found.
Bank of America BAC $15.12 -0.17 1.11% 82,674,972 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
WSJ pC5 "As Sleepy Markets Sap Brokers, BofA Merrill Cuts Rivals' Numbers" by Matt Phillips says BofA Merrill Lynch analysts cut their 4Q earnings estimates for Goldman Sachs and JPMorgan Chase. The seasonal deceleration started in mid-Nov and the decline in stock market volume has continued throughout the quarter. BofA Merrill cuts its 4Q earnings per share estimate on JPMorgan Chase to 0.68 from 0.71 citing sluggish trading.
Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE: No mentions found.
Caterpillar CAT $58.18 -0.33 0.56% 2,871,219 NYSE: No mentions found.
Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green most of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
Cisco CSCO $24.1 +0.02 0.08% 21,886,912 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.74 +0.30 0.52% 4,770,733 NYSE: No mentions found.
Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
"It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
DuPont DD $33.88 +0.18 0.53% 4,827,731 NYSE: No mentions found.
ExxonMobil XOM $68.84 0.24 0.35% 19,979,870 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
WSJ pB2 "Energy Firms Think Long Term" by Ben Casselman, Rebecca Smith says that in a sign that low natural gas prices are here to stay, big US energy firms are pushing to sign long term contracts with electric utilities and other customers. The story notes that earlier this month Exxon Mobil agreed to buy US natural gas producer XTO Energy in a $31 bil stock deal that was widely seen as an endorsement of the new gas fields' long term viability. Exxon has experience with long term sales contracts through its large liquefied natural gas operations overseas, and many experts think the firm will pursue them in the US although Exxon hasn't discussed its plans.
GE $15.44 +0.10 0.65% 48,312,993 NYSE: No mentions found.
Hewlett-Packard HPQ $52.57 -0.19 0.36% 6,965,548 NYSE: No mentions found.
Home Depot HD $29.27 +0.09 0.31% 6,901,496 NYSE: No mentions found.
Intel INTC $20.402 +0.102 0.5% 29,242,134 NASDAQ-GS: WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
IBM $131.85 -0.46 0.35% 4,183,881 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.49 -0.23 0.55% 15,590,071 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Johnson & Johnson JNJ $64.94 unch unch 6,657,435 NYSE: No mentions found.
Kraft KFT $27.45 -0.03 0.11% 5,233,327 NYSE: No mentions found.
McDonald's MCD $63.59 -0.02 0.03% 2,628,706 NYSE: USA Today p3B "How McDonald's makes suare its burgers are safe" by Elizabveth Weise says cDonaldj's si considered on of the best, if not the best, firm in the US, when it comes to food safety. The story describes the safety measures MCD takes to ensure its food is safe.
Merck MRK $37.1 -0.19 0.51% 7,508,580 NYSE: No mentions found.
Microsoft MSFT $31.39 +0.22 0.71% 29,489,805 NASDAQ-GS: WSJ pC12 "Microsoft Needs to Get More Mobile" by Martin Peers says Microsoft's diminishing profile in the mobile world is the talk of Silicon Valley. The explosion of mobile applications on devices like Apple's iPhone and Motorola's Droid presages far reaching changes in consumer behavior. Google gets that. Aside from helping develop the Android mobile operating system, the firm plans to buy mobile ad firm AdMob. And Google is now working on plans to sell its own phone. In a side bar of mobile operating system market shares, the rankings are as following: Symbian with 44.6% market share, Research in Motion, 20.8%, iPHone OS 17.1% market share, Microsoft Windows Mobile with 7.9% market share for 3Q '09 down from 11.1% in 3Q '08, followed by Linux and Android at 4.7% and 3.5% respectively.
WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
Pfizer PFE $18.56 -0.07 0.38% 19,648,465 NYSE: WSJ pB3 and AJC pA14 say Pfizer said Tues it ended a Phase 3 study for an experimental lung cancer drug called figitumumab that had been associated with an unexpected number of deaths in testing among patients. The drug was being tested for patients with non-adenocarcinoma, nonsmall-cell lung cancer. Pfizer will still test other uses of the compound, which belongs to a promising class of drugs called IFG-1R inhibitors that aim to block a substance in the body thought to stimulate growth of cancer cells. The drug could have made more than $1 bil in sales in 2015 if it had been approved by regulators.
Procter & Gamble PG $61.58 +0.33 0.54% 7,156,013 NYSE: No mentions found.
3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE: No mentions found.
Travelers TRV $49.87 +0.04 0.08% 2,290,976 NYSE: No mentions found.
United Technologies UTX $70.3 -0.16 0.23% 2,265,969 NYSE: No mentions found.
Verizon VZ $33.43 -0.06 0.18% 7,786,672 NYSE: WSJ pB3 "Hacker Finds Cracks In Cellphone Code" by Niraj Sheth, Vanessa Fuhrmans says a German hacker claims to have cracked the encryption that protects most cellphone calls potentially paving the way for others to eavesdrop on conversation. This would be a threat to many wireless carriers who have used the same security on their networks for years. The hacker is expected to demonstrate his method on Wed. In the US, AT&T and Deutsche Telekom AG's T-MMobilerun on GSM technology which is the type being hacked. Rivals Verizon Wireless, a jv of Verizon Comunications Inc. and Vodafone PLC, and Sprint Nextel operaes on a competing technology called CDMA.
WalMart WMT $54.11 +0.13 0.24% 7,176,547 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 who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
The following is not intended as advertising by a broker-dealer and is not a research report.
Post #287 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 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.
A read of Wednesday's 12/30/09 print editions of: The Wall St. Journal, Financial Times, The New York Times, USA Today, Atlanta Journal Constitution & (Ga) Daily Report 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 10,545.41 down 1.67 or 0.2% from Monday's close of 10,545.41.The Dow is down 26% from its record close of 14,164.3 on Oct. 9, 2007. The Dow is up 19% on the month and 20% on the year. Of the 30 Dow Companies: 14 gained, 1, Johnson & Johnson was unchanged and 15 declined. The biggest gainer dollar-wise was 3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE and percentage-wise was Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE. The biggest decliner dollar-wise was Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE and percentage-wise was BAC $15.12 -0.17 1.11% 82,674,972 NYSE.
WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while anotehr report showed the decline in home prices slowed in Oct.
WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute afer Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Fin Times p20 "Slide in energy puts the brakes on retail inspired rally" by Samantha Pearson says Wall St. broke its six day winning streak yesterday after the stronger dollar dragged energy stocks lower. The market spent most of the morning in positive territory and was poised to record its longest period of gains since Oct '06 but a burst of strength in the dollar just before midday dragged the S&P 500 energy sector down 0.7%, pushing Wall St. in and out of the red in the afternoon.
NYT pB6 "Wall St. Cool to Positive Economic Data" by AP says in a day of lackluster trading, Wall St. stumbled, ever so slightly for the first time since 12/17. All 3 major indexes closed lower as reports on home prices and consumer confidence did little to excite buyers.
USA Today p4B "Markets drop for 1st time in 7 sessions" by Bloomberg says stocks fell for the first time in 7 trading sessions Tues as drops in energy, financial and technology firms snuffed out an early gain on reports that home prices rose in Oct. and consumer confidence increased.
As of the open of the market Wednesday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.30 up from Tues's 18.10 (year ago it was 18.10) the P/E estimate is 16.00 unchanged from Tuesday (year ago it was 10.33) and the current dividend yield is 2.62 unchanged from Tues.'s 2.62 (it was 3.62 a year ago).
Tuesday's Dow Jones Industrial Average closing numerator was 1395.35 down 0.16 from Thursday's closing Dow numerator of 1395.58. 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 0.16 for Monday by the divisor you get the decrease in Monday's Dow close of 1.67.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 46.51 down 0.01 from Monday's Dow Jones Industrial Average closing price of $46.52. The median closing price of Tuesday's Dow Jones Industrial Average was 41.19 down 0.19 from Monday's $41.38. The lowest volume Monday was Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE and the highest volume again was Bank of Am BAC $15.12 -0.17 1.11% 82,674,972 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 lost $30 ($139,560 - $139,530).
AT&T T $28.34 +0.01 0.04% 15,888,304 NYSE: "It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
Alcoa AA $16.03 -0.07 0.43% 14,246,194 NYSE: No mentions found.
American Express AXP $40.88 -0.17 0.41% 4,438,131 NYSE: No mentions found.
Bank of America BAC $15.12 -0.17 1.11% 82,674,972 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
WSJ pC5 "As Sleepy Markets Sap Brokers, BofA Merrill Cuts Rivals' Numbers" by Matt Phillips says BofA Merrill Lynch analysts cut their 4Q earnings estimates for Goldman Sachs and JPMorgan Chase. The seasonal deceleration started in mid-Nov and the decline in stock market volume has continued throughout the quarter. BofA Merrill cuts its 4Q earnings per share estimate on JPMorgan Chase to 0.68 from 0.71 citing sluggish trading.
Boeing BA $55.21 +0.07 0.13% 2,163,935 NYSE: No mentions found.
Caterpillar CAT $58.18 -0.33 0.56% 2,871,219 NYSE: No mentions found.
Chevron CVX $77.21 -0.56 0.72% 4,803,377 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green most of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
Cisco CSCO $24.1 +0.02 0.08% 21,886,912 NASDAQ-GS: No mentions found.
Coca-Cola KO $57.74 +0.30 0.52% 4,770,733 NYSE: No mentions found.
Disney DIS $32.38 +0.47 1.47% 6,242,072 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
"It's a hard to Swallow tablet From Apple" by Martin Peers says a blizzard of speculation is building over Apple's as yet unconfirmed release of a tablet computer. Among other things, the tablet is expected to offer ebooks and tv programs. Apple has been trying to get tv networks to license their programming for a subscription service planned as part of a revamp of iTunes. Wile CBS and Walt Disney are considering participation, other media firms are showing little interest in the subscription service which would be priced between $500 and $900. Apple could cut the device's price. The iPhone wasn't a big seller when it first released at $499 and $599. Apple quickly lowered that to $399. But it was only when Apple renegotiated its deal with AT&T, cutting the price for the cheapest model to $199, that sales really took off.
DuPont DD $33.88 +0.18 0.53% 4,827,731 NYSE: No mentions found.
ExxonMobil XOM $68.84 0.24 0.35% 19,979,870 NYSE: WSJ pC1 "Stocks Snap 6-Day Streak, Off 1.67 Points" by Donna Kardos Yesalavich says stocks finished slightly lower as gains by consumer stocks were offset by slumping energy stocks ahead of oil inventory data. The Dow Jones Industrial Average slipped 1.67 points, breaking a six day winning streak after trading in the green ost of the day. The Dow's energy components kept earlier gains in check. Chevron fell 0.7%, while Exxon Mobil slipped 9.4%. Gold settled down 0.9% at $1,197 an ounce while the dollar strengthened and oil futures edged higher to $78.87 a barrel. The 10 year Treasury rose to a yield of 1.103%, the highest since Aug. 12. The Conference Board said its consumer confidence index rose this month, while another report showed the decline in home prices slowed in Oct.
WSJ pB2 "Energy Firms Think Long Term" by Ben Casselman, Rebecca Smith says that in a sign that low natural gas prices are here to stay, big US energy firms are pushing to sign long term contracts with electric utilities and other customers. The story notes that earlier this month Exxon Mobil agreed to buy US natural gas producer XTO Energy in a $31 bil stock deal that was widely seen as an endorsement of the new gas fields' long term viability. Exxon has experience with long term sales contracts through its large liquefied natural gas operations overseas, and many experts think the firm will pursue them in the US although Exxon hasn't discussed its plans.
GE $15.44 +0.10 0.65% 48,312,993 NYSE: No mentions found.
Hewlett-Packard HPQ $52.57 -0.19 0.36% 6,965,548 NYSE: No mentions found.
Home Depot HD $29.27 +0.09 0.31% 6,901,496 NYSE: No mentions found.
Intel INTC $20.402 +0.102 0.5% 29,242,134 NASDAQ-GS: WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
IBM $131.85 -0.46 0.35% 4,183,881 NYSE: No mentions found.
J.P.Morgan Chase JPM $41.49 -0.23 0.55% 15,590,071 NYSE: WSJ pC5 "Disney Gains 1.5%; BofA Declines 1.1%" by Donna Kardos Yesalavich says stocks snapped a six session winning streak, as the improving consumer confidence data that lifted Walt Disney and other consumer stocks was outweighed by a slump across energy and financial firms such as Chevron and Bank of America. Disney was the Dow Industrials' best performer, rising 1.5%. Bank of America and Chevron led the Dow decliners. Bank of America declined as cuts to earnings estimates hit many financial stocks. Chevron dropped as investors nervously awaited oil and fuel inventory data from the American Petroleum Institute after Tues's settlement, in addition to gov data Wed. Bank of America-Merrill Lynch cut its estimates on US brokerage houses Tues, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all on the receiving end of the estimate cuts.
Johnson & Johnson JNJ $64.94 unch unch 6,657,435 NYSE: No mentions found.
Kraft KFT $27.45 -0.03 0.11% 5,233,327 NYSE: No mentions found.
McDonald's MCD $63.59 -0.02 0.03% 2,628,706 NYSE: USA Today p3B "How McDonald's makes suare its burgers are safe" by Elizabveth Weise says cDonaldj's si considered on of the best, if not the best, firm in the US, when it comes to food safety. The story describes the safety measures MCD takes to ensure its food is safe.
Merck MRK $37.1 -0.19 0.51% 7,508,580 NYSE: No mentions found.
Microsoft MSFT $31.39 +0.22 0.71% 29,489,805 NASDAQ-GS: WSJ pC12 "Microsoft Needs to Get More Mobile" by Martin Peers says Microsoft's diminishing profile in the mobile world is the talk of Silicon Valley. The explosion of mobile applications on devices like Apple's iPhone and Motorola's Droid presages far reaching changes in consumer behavior. Google gets that. Aside from helping develop the Android mobile operating system, the firm plans to buy mobile ad firm AdMob. And Google is now working on plans to sell its own phone. In a side bar of mobile operating system market shares, the rankings are as following: Symbian with 44.6% market share, Research in Motion, 20.8%, iPHone OS 17.1% market share, Microsoft Windows Mobile with 7.9% market share for 3Q '09 down from 11.1% in 3Q '08, followed by Linux and Android at 4.7% and 3.5% respectively.
WSJ pB1 "Smartbooks Latest to Join Crowded Computer Market" by Don Clark says firms gambling that they can shake up the portable computer market plan to lay some cards on the table in Las Vegas next week at the 2010 Consumer Electronics Show which will be a coming out party for a new breed of ultra small laptops that act more like smart phones - designed to be always on and connected to the Internet via 3G cellular networks, ready to call up a Web page or post an update on Witter. Promoters of the new devices have been pushing the term smartbooks to distinguish them from the low end portables called netbooks that have been the hottest thing in the PC industry over the past 2 years. Smartbooks are expected to carry lower prices than netbooks, which can be bought for $250 now. Most smartbooks are designed to have built in cellular connections, so they are more likely to be sold at discount prices by cellular carriers along with data plans. Unlike netbooks and most other laptops, smartbooks don't use x86 microprocessors from Intel or Advanced Micro Devices nor popular versions of Microsoft's Windows operating system.
Pfizer PFE $18.56 -0.07 0.38% 19,648,465 NYSE: WSJ pB3 and AJC pA14 say Pfizer said Tues it ended a Phase 3 study for an experimental lung cancer drug called figitumumab that had been associated with an unexpected number of deaths in testing among patients. The drug was being tested for patients with non-adenocarcinoma, nonsmall-cell lung cancer. Pfizer will still test other uses of the compound, which belongs to a promising class of drugs called IFG-1R inhibitors that aim to block a substance in the body thought to stimulate growth of cancer cells. The drug could have made more than $1 bil in sales in 2015 if it had been approved by regulators.
Procter & Gamble PG $61.58 +0.33 0.54% 7,156,013 NYSE: No mentions found.
3M MMM $84.13 +0.68 0.81% 3,865,898 NYSE: No mentions found.
Travelers TRV $49.87 +0.04 0.08% 2,290,976 NYSE: No mentions found.
United Technologies UTX $70.3 -0.16 0.23% 2,265,969 NYSE: No mentions found.
Verizon VZ $33.43 -0.06 0.18% 7,786,672 NYSE: WSJ pB3 "Hacker Finds Cracks In Cellphone Code" by Niraj Sheth, Vanessa Fuhrmans says a German hacker claims to have cracked the encryption that protects most cellphone calls potentially paving the way for others to eavesdrop on conversation. This would be a threat to many wireless carriers who have used the same security on their networks for years. The hacker is expected to demonstrate his method on Wed. In the US, AT&T and Deutsche Telekom AG's T-MMobilerun on GSM technology which is the type being hacked. Rivals Verizon Wireless, a jv of Verizon Comunications Inc. and Vodafone PLC, and Sprint Nextel operaes on a competing technology called CDMA.
WalMart WMT $54.11 +0.13 0.24% 7,176,547 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 who will be replaced on 1/1 by Brian T. Moynihan.
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 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses 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: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.
12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).
Alcoa AA: 11/20/09 8K re: the temporarily idling of 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: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.
Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.
12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.
12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.
12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.
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: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.
Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.
Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.
Coke KO: 10/29/09 10QA
Disney DIS: 12/2/09 10K
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: 12/14/09 8K re: Merger Agreement to buy XTO Energy.
12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows
GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.
Hewlett-Packard HPQ: 12/17/09 10K
Home Depot HD: 12/3/09 10Q
Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.
IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.
JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.
12/8/09 8K re: a presentation at an U.S. financial services investor conference.
Johnson & Johnson JNJ: 11/4/09 10Q
Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.
12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.
McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.
12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.
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: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.
Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.
Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.
12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.
12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.
3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.
Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.
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: 12/7/09 8K re:amendments to bylaws.
12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).
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