12/16/09 Wed pm Dow Closes 10441.12 down 10.88 or 0.1%

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Post #265 The following is brought to you by Intellivest Securities Research, Inc. Towards the end of this Blog is a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of close of 11/30/09 and an update of the Dow 30's most recent SEC filings as of 11/30/09.

As of the open of the market Tuesday, 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 18.13 down from Mon.'s 18.17 (year ago it was 18.64) the P/E estimate is 16.19 unchanged from Mon.s 16.19 (year ago it was 10.32) and the current dividend yield is 2.65 unchanged from Mon. morning's 2.65 (it was 3.52 a year ago).

The Dow Jones Industrial Average closed Wednesday at 10,441.12 down 10.88 or 0.1% from Tuesday's close of 10,441.12. Of the 30 Dow Companies: 15 gained, 1 (United Technologies UTX, was unchanged) and 14 declined. The biggest gainer dollar-wise was Chevron CVX $77.89 +0.52 0.67% 10,681,927 NYSE and percentage-wise was Alcoa AA 14.9 +0.22 1.5% 30,109,379 NYSE. The biggest decliner dollar-wise was 3M MMM $81.72 -0.98 1.19% 3,978,017 NYSE and percentage-wise was Intel INTC $19.38 -0.42 2.12% 92,694,365 NASDAQ-GS NYSE.

As of the open of the market Monday, 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 18.17 up from Fri.'s 18.05 (year ago it was 18.02) the P/E estimate is 16.19 up from Fri. 16.05 (year ago it was 10.32) and the current dividend yield is 2.65 down from Fri. morning's 2.67 (it was 3.64 a year ago).

Wednesday's Dow Jones Industrial Average closing numerator was 1381.56 down 1.44 from Tuesday's closing Dow numerator of 1383. 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 1.44 for Wednesday by the divisor you get the decrease in Monday's Dow close of 10.88.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 46.05 down 0.08 from Tuesday's Dow Jones Industrial Average closing price of $46.13. The median closing price of Wednesday's Dow Jones Industrial Average was $41.32 up 0.41 from Tuesday's $41.91. The lowest volume Wednesday was 3M MMM $81.72 -0.98 1.19% 3,978,017 NYSE and the highest volume again was Bank of Am BAC $15.28 +0.09 0.59% 158,295,259 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 lost $240 ($138,390 - $138,150).

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

AT&T T $27.52 -0.08 0.29% 23,413,849 NYSE
Alcoa AA $14.9 +0.22 1.5% 30,109,379 NYSE
American Express AXP $41.27 +0.31 0.76% 8,902,817 NYSE
Bank of America BAC $15.28 +0.09 0.59% 158,295,259 NYSE
Boeing BA $55.13 -0.54 0.97% 7,264,349 NYSE
Caterpillar CAT $58.23 +0.03 0.05% 6,339,316 NYSE
Chevron CVX $77.89 +0.52 0.67% 10,681,927 NYSE
Cisco CSCO $23.45 -0.03 0.13% 38,149,603 NASDAQ-GS
Coca-Cola KO $58.42 -0.64 1.08% 8,360,705 NYSE
Disney DIS $32.43 +0.25 0.78% 10,701,263 NYSE
DuPont DD $32.66 +0.47 1.46% 4,578,984 NYSE
ExxonMobil XOM $68.43 -0.74 1.07% 50,782,578 NYSE
GE $15.69 -0.06 0.38% 65,364,205 NYSE
Hewlett-Packard HPQ $51.36 +0.37 0.73% 14,156,845 NYSE
Home Depot HD $28.96 -0.06 0.21% 12,594,597 NYSE
Intel INTC $19.38 -0.42 2.12% 92,694,365 NASDAQ-GS
IBM $128.71 +0.22 0.17% 5,567,322 NYSE
J.P.Morgan Chase JPM $41.36 +0.50 1.22% 40,802,229 NYSE
Johnson & Johnson JNJ $64.8 +0.06 0.09% 11,578,271 NYSE
Kraft KFT $27.15 +0.32 1.19% 8,959,293 NYSE
McDonald's MCD $62.42 +0.42 0.68% 4,980,902 NYSE
Merck MRK $37.75 -0.25 0.66% 14,700,660 NYSE
Microsoft MSFT $30.1 +0.08 0.27% 50,795,035 NASDAQ-GS
Pfizer PFE $18.41 +0.12 0.66% 34,664,929 NYSE
Procter & Gamble PG $62.16 +0.04 0.06% 9,851,891 NYSE
3M MMM $81.72 -0.98 1.19% 3,978,017 NYSE
Travelers TRV $49.7 -0.71 1.41% 5,024,653 NYSE
United Technologies UTX $70.25 unch unch 5,234,573 NYSE
Verizon VZ $32.71 -0.30 0.91% 18,737,168 NYSE
WalMart WMT $53.32 -0.66 1.22% 17,137,841 NYSE
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The following is from Wednesday morning's Blog:
A read of Wednesday's 12/16/09 print editions of: The Wall Street Journal, Financial Times, The New York Times, Investors Business Daily, USA Today, Atlanta Journal Constitution, Daily Report (Ga) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's closing price and related data:

Dow: The Dow Jones Industrial Average closed Tuesday at 10,452 down 49.05 or 0.47% from Monday's close of 10,501.05. Of the 30 Dow Companies: 8 gained and 22 declined. The biggest gainer dollar-wise was MMM $82.7 +0.79 0.96% 4,589,237 NYSE and percentage-wise was Disney DIS $32.18 +0.35 1.1% 15,045,270 NYSE. The biggest decliner dollar-wise was Procter & Gamble PG $62.12 -0.89 1.41% 11,043,588 NYSE and percentage-wise was JPMorgan Chase JPM $40.86 -0.91 2.18% 39,675,813 NYSE.

WSJ pC1 "Financials Lead Stocks Down 49.05" by Peter A. McKay says the financial sector, facing credit card write downs and increasing shareholder dilution, led the broader market lower. The Dow Jones Industrial Average fell 0.5%. Bank of America was is weakest component, off 2.8% after writing off 13% of credit card deb, the highest rate of any major card issuer. JPMorgan Chase declined 2.2% after it wrote off 8.8% of credit card loans in Nov. The reports of heft write downs came as investors are trying to determine how the current holiday shopping season will shape up which is looking just "ok" compared to last year's.

WSJ pC5 "Capital One Falls As Wells Climbs" by Geoffrey Rogow says financial stocks led the market lower as rising credit card delinquency rates weighed on Capital One Financial, JPMorgan Chase and othes, and as concerns percolated over regional banks, including PNC Financial Services Group and SunTrust Banks, that have yet to repay gov loans. The Dow's leading decliners were Bank of America and JPMorgan. Sidebar charts Bank of America under "Bad news" says the bank's shares slipped after the latest credit card write off reports.

Fin Times p30 "Inflation concerns spark a slip back from year highs" by Samantha Pearson says US stocks failed to break into positive territory after a surprise jump in the producer price index sparked inflation concerns. Disappointing manufacturing data from NY state also gave another reason to pause after Mon's rally.

Inv. Bus Daily "Indexes Fall As Volume Rises, GE Drags Stocks Late" by Vincent Mao says stocks stumbled on inflation data and a higher dollar Tues, retracing much of Monday's gains. Stocks worsened in the final hour after GE warned of flat earnings and sales at its GE Capital and industrial units. GE, which is regarded a bellwether for the US economy, slipped about 1%, closing just above its 50 day moving average. Tuesday's action was down in higher volume and the current outlook is uptrend under pressure.

NYT pB10 "Shares end Lower After Inflation Report" by AP says the stock market fell from 14 month highs on Tues, and Treasuries slipped on reports that inflation rose faster than expected last month. Share lost ground late in the day after GE forecast that rev and earnings wold be flat next year.

Tuesday's Dow Jones Industrial Average closing numerator was 1383 down 6.49 from Monday's closing Dow numerator of 1389.49. 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 6.49 for Monday by the divisor you get the decrease in Monday's Dow close of 49.05.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 46.13 down 0.19 from Monday's Dow Jones Industrial Average closing price of $46.32. The median closing price of Monday's Dow Jones Industrial Average was $40.91 down 0.61 from Monday's $41.52. The lowest volume Tuesday was Travelers TRV $50.41 -0.61 1.2% 3,948,566 NYSE and the highest volume again was Bank of Am BAC $ 15.19 -0.44 2.82% 187,134,346 NYSE.

If Tuesday 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 $570 ($138,960 - $138,390).

AT&T $27.6 -0.45 1.6% 20,752,994 NYSE: WSJ pB "Insider Pushes Ma Bell Behond Just Phones" by Niraj Sheth says AT&T is betting that wireless services for new gadgets could increase its $124 bil a year business and has a mission to entrench the nation's largest phone firm in services for new wireless devices such as ereaders and netbooks, which are already in stores. AT&T has taken an early lead in this area by supporting more devices than its rivals. It disclosed a deal to carry on its network an ebook reader from British Interead Ltd., adding a fifth ereader to a lineup that already includes Amazon.com's Kindle and Barnes Noble's upcomining Nookk.

WSJ pB4 "FCC Targets Loophole on Programming" by Amy Schatz says the FCC has proposed prohibiting cable providers from withholding local sporting event broadcasts and other popular channels from satellite TV producers and othe rival. This would close the so called terrestrial loophole used by firms such as Comcast, Cox and Cablevision to withhold local sports channels from rival. The proposal would mean consumers cold have more choice to pay TV services and cold watch local games without having to subscribe to the largest local cable providers. For example, in San Diego, subscribers to AT&T's U-Verse tv service can't get San Diego Padres games, which are carried on a channel owned by Cox Communications. The FCC's move would be a victory for Dish Network, DirecTV, Verizon Communications Inc. and AT&T, all of whom have had trouble trying to get regional sports channels from local provider. Last year, AT&T filed a complaint against Cox for denying it permission to air San Diego Padres games and Verizon sued Cablevision for denying it access to a high def feed of games from Madison Square Gardens.

Alcoa AA $14.68 -0.14 0.94% 19,636,822 NYSE: No mentions found.

American Express AXP $40.96 0.32 0.78% 10,686,440 NYSE: WSJ pC8 "Card Issuers See Hits" y Aparajia Saha-Bubna says delinquency rates continued to rise for most credit card issues and losses stemming from souring card loans remain high. Issuers of credit cards, including Capital One, JPMorgan Chase, Bank of America, Citigroup, Discover Financial Services and American express are also coping with sweeping legislation restricting fees and rate increases.

Bank of America BAC $15.19 -0.44 2.82% 187,134,346 NYSE: WSJ pC1 "Financials Lead Stocks Down 49.05" by Peter A. McKay says the financial sector, facing credit card write downs and increasing shareholder dilution, led the broader market lower. The Dow Jones Industrial Average fell 0.5%. Bank of America was is weakest component, off 2.8% after writing off 13% of credit card deb, the highest rate of any major card issuer. JPMMorgan Chase declined 2.2% after it wrote off 8.8% of credit card loans in Nov. The reports of heft write downs came as investors are trying to determine how the current holiday shopping season will shape up which is looking just "ok" compared to last year's.

Fin Times p17 "Wells sells $10.7 bil in new shaes to repay fed aid" by Francesco Guerrera, WSJ pC3"Wells Fargo Keeps Assets As It Raises $12.25 Bil" by Kathy Shwiff, Marshall Eckblad say Wells Fargo raised this amount in a stock offering eliminating he need to sell assets to generate $1.5 bil in equity. Bank of America and Citigroup have already signed agreements with regulators to free themselves of the restrictitons of gov oversight that resulted from the bailout payments.

WSJ pC5 "Capial One Falls As Wells Climbs" by Geoffrey Rogow says financial stocks led the market lower as rising credit card delinquency rates weighed on Capital One Financial, JPMorgan Chase and othes, and as concerns percolated over regional banks, including PNC Financial Services Group and SunTrust Banks, that have yet to repay gov loans. The Dow's leading decliners were Bank of America and JPMorgan. Sidebar charts Bank of America under "Bad news" says the bank's shares slipped after the latest credit card write off reports.

WSJ pC8 "Card Issuers See Hits" y Aparajia Saha-Bubna says delinquency rates continued to rise for most credit card issues and losses stemming from souring card loans remain high. Issuers of credit cards, including Capital One, JPMorgan Chase, Bank of America, Citigroup, Discover Financial Services and American express are also coping with sweeping legislation restricting fees and rate increases.

Boeing BA $55.67 -0.38 0.68% 7,218,538 NYSE: WSJ pA1 Headline "After two years Stuck on the Tarmac, Boeing's Dreamliner Gets Off the Ground" with large photo, by Peter Sanders, Daniel Michaels with similar stories and photos at Fin Times p17, Inv. Bus. Daily pA1, & NYT pA5 & pA25 say Boeing's 787 Dreamliner on Tues made its first flight, marking a success for Boeing afer 2 years of delays but setting up an equally challenging drive to churn out large numbers of the cutting edge jets. The flight was at Paine Field in Everett, Washington. Boeing hopes to produce 7 Dreamliner a month by 2011, increasing to 10 a month by '13. The Dreamliner has more than 300 global suppliers. The delays have caused Boeing, the single largest exporter from the US, to bleed cash. It swung to a $1.6 bil 3Q loss after writing off $3.5 bil due to problems with the Dreamliner and another jetliner program. The missed delivery dates ahve set off payments of millions in penalties and dented the firm's credibility. It is the firt jet to be built half out of strong but heavyweight carbon fiber composite material which will make it more fuel efficient and durable. There are 86 orders for the plane that has a list price of $160 mil. This is ore advance orders than any other jetliner in history.

Caterpillar CAT $58.2 -0.10 0.17% 4,898,307 NYSE: No mentions found.

Chevron CVX $77.37 +0.11 0.14% 10,054,344 NYSE: No mentions found.

Cisco CSCO $23.48 -0.36 1.51% 52,007,636 NASDAQ-GS: No mentions found.

Coca-Cola KO $59.06 +0.02 0.03% 7,451,817 NYSE: No mentions found.

Disney DIS $32.18 +0.35 1.1% 15,045,270 NYSE: No mentions found.

DuPont DD $32.19 -0.51 1.56% 6,126,867 NYSE: No mentions found.

ExxonMobil XOM $69.17 -0.52 0.75% 52,662,050 NYSE: Fin Times p20 "Exxon's deal for XTO may open floogates to a round of energy acquisitions" by Sheila McNulty says Exxon's move to buy XTO Energy for $41 bil sets the stage for a round of merges and acquisitions in the energy sector, where the world's top 5 super majors alone are holding cash reserves of over $75 bil.

Fin Times p16 says Exxon's purchase price for XTO implies a long run North American gas price of about $7 per thousand cubic feet and is an arbitrage on gas prices.

WSJ pC18 "Gas Guzzling Exxon's XTO Deal Sends a Mixed message" by Liam Denning discusses Exxon's decisionto buy XO in light of the US gas foreward curve that shows spot prices have risen 43% in the past six months, but futures out to '14 have dropped by 10%.

GE $15.75 -0.20 1.25% 78,163,207 NYSE: NYT pB3 "GE to Focus On Energy And Health For Recovery" & WSJ pB3 "Defensive Posture Helped Boost GE, Chief Says" by Paul Glader say GE CEO Jeff Immelt told investors Tues that the worst is over for GE Capital and he forecst that GE rev next year will roughly equal this years. He projects '10 rev of just $155 bil, flat with this year, and a profit margin of 16 unchanged. GE said it will have around $8 bil of cash at the end of '09 and around $24 bil at the end of '10. GE will use some of the cash for industrial acquisitions. Ge has injected $15 bil into GE Capital in the past 18 months and plans another $2 bil infusion in '11.

NYT pB10 "Shares end Lower After Inflation Report" by AP says the stock market fell from 14 month highs on Tues, and Treasuries slipped on reports that inflation rose faster than expected last month. Share lost ground late in the day after GE forecast that rev and earnings wold be flat next year.

WSJ pC6 "Options Report" by Tennille Tracy, Brendan Conway says options traders rallied around Rockwell Automation after analysts said they thought the firm wold make a good acquisition target for GE.

Hewlett-Packard HPQ $50.99 +0.31 0.61% 18,238,249 NYSE: No mentions found.

Home Depot HD $29.02 +0.15 0.52% 15,323,494 NYSE: No mentions found.

Intel INTC $19.8 -0.18 0.9% 42,288,107 NASDAQ-GS: No mentions found.

IBM $128.49 -1.44 1.11% 7,762,714 NYSE: No mentions found.

JPMorgan Chase JPM $40.86 -0.91 2.18% 39,675,813 NYSE: WSJ pC1 "Financials Lead Stocks Down 49.05" by Peter A. McKay says the financial sector, facing credit card write downs and increasing shareholder dilution, led the broader market lower. The Dow Jones Industrial Average fell 0.5%. Bank of America was is weakest component, off 2.8% after writing off 13% of credit card deb, the highest rate of any major card issuer. JPMMorgan Chase declined 2.2% after it wrote off 8.8% of credit card loans in Nov. The reports of heft write downs came as investors are trying to determine how the current holiday shopping season will shape up which is looking just "ok" compared to last year's.

WSJ pC5 "Capial One Falls As Wells Climbs" by Geoffrey Rogow says financial stocks led the market lower as rising credit card delinquency rates weighed on Capital One Financial, JPMorgan Chase and othes, and as concerns percolated over regional banks, including PNC Financial Services Group and SunTrust Banks, that have yet to repay gov loans. The Dow's leading decliners were Bank of America and JPMorgan. Sidebar charts Bank of America under "Bad news" says the bank's shares slipped after the latest credit card write off reports.

WSJ pC8 "Card Issuers See Hits" y Aparajia Saha-Bubna says delinquency rates continued to rise for most credit card issues and losses stemming from souring card loans remain high. Issuers of credit cards, including Capital One, JPMorgan Chase, Bank of America, Citigroup, Discover Financial Services and American express are also coping with sweeping legislation restricting fees and rate increases.

Johnson & Johnson JNJ $64.74 -0.22 0.34% 10,435,657 NYSE: No mentions found.

Kraft KFT $26.83 -0.14 0.52% 6,366,279 NYSE: Inv. Daily pA2 WSJ pB3 "Kraft Questions Defense By Cadbury Against Offer" says Kraft told the UK firm's shareholders to ask how Cadbury its growth targets withoutthe scale and investment Kraft can offer. Kraft again suggested it won'traise its offer of $16.4 bil.

Fin Times p22 has a photo with a caption describing a Cadbury factory protest against the Kraft hostile bid for Cadbury.

McDonald's MCD $62 -0.14 0.23% 4,840,960 NYSE: No mentions found.

Merck MRK $38 +0.23 0.61% 12,618,111 NYSE: No mentions found.

Microsoft MSFT $30.02 -0.09 0.3% 45,281,717 NASDAQ-GS: Fin Times p22 & WSJ pB5 "Microsoft's Black Eye by Nick Wingfield say Microsoft has long complained about piracy in China is on the wrong side of the issue this week. It said it is suspending its China microblogging service MSN Juku ader discovering a vendor that Miscrosoft hired to develop the site stole software code from a rival.

Pfizer PFE $18.29 -0.11 0.6% 33,836,019 NYSE: No mentions found.

Procter & Gamble PG $62.12 -0.89 1.41% 11,043,588 NYSE: No mentions found.

3M MMM $82.7 +0.79 0.96% 4,589,237 NYSE: No mentions found.

Travelers TRV $50.41 -0.61 1.2% 3,948,566 NYSE: No mentions found.

United Technologies UTX $70.25 +0.34 0.49% 5,390,162 NYSE: No mentions found.

Verizon VZ $33.01 -0.54 1.61% 20,393,005 NYSE: WSJ pB4 "FCC Targets Loophole on Programming" by Amy Schatz says the FCC has proposed prohibiting cable providers from withholding local sporting event broadcasts and other popular channels from satellite TV producers and othe rival. This would close the so called terrestrial loophole used by firms such as Comcast, Cox and Cablevision to withhold local sports channels from rival. The proposal would mean consumers cold have more choice to pay TV services and cold watch local games without having to subscribe to the largest local cable providers. For example, in San Diego, subscribers to AT&T's U-Verse tv service can't get San Diego Padres games, which are carried on a channel owned by Cox Communications. The FCC's move would be a victory for Dish Network, DirecTV, Verizon Communications Inc. and AT&T, all of whom have had trouble trying to get regional sports channels from local provider. Last year, AT&T filed a complaint against Cox for denying it permission to air San Diego Padres games and Verizon sued Cablevision for denying it access to a high def feed of games from Madison Square Gardens.

WalMart WMT $53.98 -0.09 0.17% 14,949,152 NYSE: No mentions found.

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Here are the CEOs of the Dow 30 Companies:

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

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

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

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

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

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

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

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

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

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

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

Chevron CVX: 11/5/09 10Q

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

Coke KO: 10/29/09 10QA

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

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

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

ExxonMobil XOM: 11/5/09 10Q

GE: 11/6/09 10QA

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

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

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

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

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

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

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

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

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

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

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

Pfizer PFE: 11/5/09 10Q

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

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

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

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

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

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