12/17/09 Thurs pm Dow Closes 10308.26 Down 132.8 or 1.27%

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Post #267 The following is brought to you by Intellivest Securities Research, Inc. Towards the end of this Blog is a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of close of 11/30/09 and an update of the Dow 30's most recent SEC filings as of 11/30/09.

The Dow Jones Industrial Average closed Thursday at 10,308.26 down 132.8 or 1.27% from Wednesday's close of 10,441.12. Of the 30 Dow Companies: 2 gained and 28declined. The biggest gainers dollar-wise were the two stocks that went up and both went up .10 GE $15.79 +0.10 0.64% 68,208,911 NYSE and Verizon VZ $32.81 +0.10 0.31% 16,765,008 NYSE and percentage-wise was GE NYSE. The biggest decliner dollar-wise was Coke KO $56.98 -1.44 2.46% 12,735,531 NYSE and percentage-wise was Bank of America BAC $14.86 -0.42 2.75% 268,043,109 NYSE.

Thursday's Dow Jones Industrial Average closing numerator was 1363.98 down 17.58 from Wedneday's closing Dow numerator of 1381.56. 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 17.58 for Thursday by the divisor you get the decrease in Thursday's Dow close of 132.8.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was 45.47 down 0.58 from Wednesday's Dow Jones Industrial Average closing price of $46.05. The median closing price of Thursday's Dow Jones Industrial Average was 40.37 down0.95 from Wedneday's $41.32. The lowest volume Thursday was United Technologies UTX $69.58 0.67 0.95% 3,718,732 NYSE and the highest volume again was Bank of Am BAC $14.86 -0.42 2.75% 268,043,109 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 18.11 down from Wednesday's 18.13 (year ago it was 18.43) the P/E estimate is 16.19 unchanged from Tues.s 16.19 (year ago it was 10.32) and the current dividend yield is 2.66 up from Wed's 2.65 (it was 3.56 a year ago).

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 $1,752 ($138,150 - $136,398).

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

T $27.22 -0.30 1.09% 26,445,525 NYSE
AA $14.5 -0.40 2.68% 20,362,801 NYSE
AXP $40.45 -0.82 1.99% 8,147,422 NYSE
BAC $14.86 -0.42 2.75% 268,043,109 NYSE
BA $54.47 -0.66 1.2% 5,824,166 NYSE
CAT $57.53 -0.70 1.2% 5,698,383 NYSE
CVX $76.78 -1.11 1.43% 8,997,422 NYSE
CSCO $23.18 -0.27 1.15% 33,415,924 NASDAQ-GS
KO $56.98 -1.44 2.46% 12,735,531 NYSE
DIS $31.93 -0.50 1.54% 14,592,431 NYSE
DD $32.01 -0.65 1.99% 5,727,274 NYSE
XOM $68.22 -0.21 0.31% 46,606,423 NYSE
GE $15.79 +0.10 0.64% 68,208,911 NYSE
HPQ $50.56 -0.80 1.56% 14,024,793 NYSE
HD $28.8 -0.16 0.55% 11,472,244 NYSE
INTC $19.07 -0.31 1.6% 52,242,534 NASDAQ-GS
IBM $127.4 -1.31 1.02% 5,909,454 NYSE
JPM $40.27 -1.09 2.64% 44,234,869 NYSE
JNJ $64.47 -0.33 0.51% 10,069,473 NYSE
KFT $26.88 -0.27 0.99% 9,555,760 NYSE
MCD $61.92 -0.50 0.8% 5,417,962 NYSE
MRK $37.28 -0.47 1.25% 18,505,664 NYSE
MSFT $29.6 -0.50 1.66% 43,644,942 NASDAQ-GS
PFE $18.22 -0.19 1.03% 44,293,130 NYSE
PG $61.59 -0.57 0.92% 10,896,002 NYSE
MMM $80.47 -1.25 1.53% 3,841,648 NYSE
TRV $48.38 -1.32 2.66% 5,762,095 NYSE
UTX $69.58 0.67 0.95% 3,718,732 NYSE
VZ $32.81 +0.10 0.31% 16,765,008 NYSE
WMT $52.76 -0.56 1.05% 15,640,255 NYSE






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The following are excerpts from Thurs. morning's Blog:

A read of Thursday's 12/17/09 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 Wednesday's closing price and related data:

Dow: 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. Year to date the Dow is up 18.97%. 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.

WSJ pC1 "Stocks Fall As Fed Holds raes steady" by Peer A. McKay says stocks pared early gains and the dollar rose after the Fed. Reserve presented a slightly improved picture of the economy, while reiterating its comittment to keep interest rates low for some time. The Dow Jones Industrial Average was up about 35 points prior to the Fed rate committee's latest policy announcement Wed. afternoon, but then tumbled to end with a loss.

WSJ pC5 "Nvidia Rises 8.1% As Intel Declines" by Donna Kardos Yesalavich says stocks ended nearly flat, as gains in commodities helped lift DuPont and Chevron, while concerns over when the Fed. Reserve will retreat from its easy money stance weighs on the market. Intel fell after being hit with a lawsuit. DuPont was one of the best performers, closing up 1.5% as metals prices moved higher. Gains in crude prices helped lift Chevron 0.7%.

Fin Times p30 "Citigroup misses out on broad rally for financials" by Samantha Pearson says Wall St. trimmed its early gains after the Fed Reserve highlighted its intention to shut down some of its liquidity facilities as the economy improves. However, the Fed still left interest rates unchanged and issued the promise many equity investors had been hoping for: to keep rates exceptionally low for an extended period. The European Commm. ended a decade long battle with Microsoft, accepting the firm's offer to allow European computer users to choose rival internet browsers. Microsoft edged 0.3% higher. Intel dropped 2.1% after the US Fed Trade Com said it would sue the world's largest computer chip maker for abusing its market position for a decade. AMD, one of Intel's key rivals, rose on the news gaining 3.7%.

NYT pB12 "Shares End Mixed as Fed Holds Rates Steady" by Reuters says shares closed mixed on Wed. after the Fed. Res. reiterated its intention to keep interest rates low for the foreseeable future to ensure a sustainable economic recovery. Wall St. trimmed its gains on news hat the Fed voted unanimously to keep benchnmark borrowing costs in a range of zero to 0.25%.

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 18.11 down from Wednesday's 18.13 (year ago it was 18.43) the P/E estimate is 16.19 unchanged from Tues.s 16.19 (year ago it was 10.32) and the current dividend yield is 2.66 up from Wed's 2.65 (it was 3.56 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).

AT&T T $27.52 -0.08 0.29% 23,413,849 NYSE: AJC "AT&T sued for overtime pay; plaintiffs ask for $1 bil" by Peralte C. Paul, Kristi E. Swartz says AT&T was sued Wed. by 5,000 current and former employees who accuse AT&T of forcing them to work overtime without compensation. The suit was filed in US Dist. Ct. in Atlanta and in SF. At issue in the Atlanta suit is AT&T's categorization of some manages after it acquired Atlanta based BellSouth Corp.

Alcoa AA $14.9 +0.22 1.5% 30,109,379 NYSE: No mentions found.

American Express AXP $41.27 +0.31 0.76% 8,902,817 NYSE: No mentions found.

Bank of America BAC $15.28 +0.09 0.59% 158,295,259 NYSE: NYT pB1 "Bank Picks A Successor To Lewis" by Eric Dash, WSJ pA1 "Treasury Halts Plan To Sell off CitStock" by David Enrich say Bank of America named Brian Moynihan, the head of its consumer and small business units, as its new CEO, succeeding Kenneth Lewis.

Boeing BA $55.13 -0.54 0.97% 7,264,349 NYSE: No mentions found.

Caterpillar CAT $58.23 +0.03 0.05% 6,339,316 NYSE: No mentions found.

Chevron CVX $77.89 +0.52 0.67% 10,681,927 NYSE: WSJ pC5 "Nvidia Rises 8.1% As Intel Declines" by Donna Kardos Yesalavich says stocks ended nearly flat, as gains in commodities helped lift DuPont and Chevron, while concerns over when the Fed. Reserve will retreat from its easy money stance weighs on the market. Intel fell after being hit with a lawsuit. DuPont was one of the best performers, closing up 1.5% as metals prices moved higher. Gains in crude prices helped lift Chevron 0.7%.

Cisco CSCO $23.45 -0.03 0.13% 38,149,603 NASDAQ-GS: No mentions found.

Coca-Cola KO $58.42 -0.64 1.08% 8,360,705 NYSE: No mentions found.

Disney DIS $32.43 +0.25 0.78% 10,701,263 NYSE: WSJ pA22 "A Namesake Who Reanimated Disney" by Ethan Smith, Stephen Miller say Roy E. Disney, the nephew of Walt Disney died Wed at age 79 and had served at various times as a board member and an exec. of Disney. He was the nephew of Walt Disney. Roy had battled with the firm that resulted in the ouster of CEO Eisner who Roy wanted out. With the installation in '05 of Robert Iger, Eisner's longtime No. 2, as CEO, there was renewed period of detente between Roy Disney and the firm.

DuPont DD $32.66 +0.47 1.46% 4,578,984 NYSE: WSJ pC5 "Nvidia Rises 8.1% As Intel Declines" by Donna Kardos Yesalavich says stocks ended nearly flat, as gains in commodities helped lift DuPont and Chevron, while concerns over when the Fed. Reserve will retreat from its easy money stance weighs on the market. Intel fell after being hit with a lawsuit. DuPont was one of the best performers, closing up 1.5% as metals prices moved higher. Gains in crude prices helped lift Chevron 0.7%.

ExxonMobil XOM $68.43 -0.74 1.07% 50,782,578 NYSE: Fin Times p21 "Exxon agrees finance for gas venture" by Elizabeth Fry says ExxonMobil and its joint venture partners in a $15 bil liquefied natural gas project in Papua New Guinea have secured $14 bil in project financing, and construction is due to begin early next year.

WSJ pB3 "Exxon Can Stop Deal if Drilling Method Is Restricted by Russell Gold says Exxon Mobil can back out of its $31 bil to acquire natural gas producer XTO Energy if Congress passes a law requiring stronger fed oversight of a controversial drilling technique, fracturing, known as fracking, which is a common method that XTO and other natural gas firms use to produce gas from hard shale rock formations, which have recently become a major source of natural gas. water, sand and drilling fluids are pumped into the shale under enormous pressure, creating fractures in the rocks that allow the gas molecules to escape. Critics contend the practice causes pollution, especially to drinking water.

GE $15.69 -0.06 0.38% 65,364,205 NYSE: NYT pB2 "A Shrewd Deal For Comcast" by Rob Cox, Ricahrd Beales, Christopher Swann says the Comcast boss, Brian Roberts, said buying control of NBC Universal, GE's media biz, made him and his cable group strategically complete. This was code to his shareholders, who have worried about him building a media empire ever since he tried to buy Walt Disney, that he's done shopping.

Hewlett-Packard HPQ $51.36 +0.37 0.73% 14,156,845 NYSE: WSJ pB1 "US Sues Intel Alleging New Market Abuses"by Don Clark, Thomas Catan say the US FTC Wed sued Intel Corp. seeking to stop what it claimed was a decade of illegal sales tactics that hobbled competitors in the semiconductor market, adding to prior accusations against the firm. The complaint came he same day the regulators in Brussels agreed to abandon their decade long antitrust battle against Microsoft in exchange for a commitment from it that would distribute competing Web browsers alongside its own products. The 2 developments show how Intel, the kingpin in microprocessors that act as brains in pcs, has superceded Microsoft as a target for govs policing key high tech markets. Issue now is whether Intel impeded or spurred innovation in its efforts to counter smaller rivals. As in prior complaints filed in Europe, Japan, South Korea and by New York State, the FTC alleged that Intel used rebates or threats of retaliation to deter computer makers such as Hewlett-Packard, Dell and IBM from using AMD Microprocessor.

Home Depot HD $28.96 -0.06 0.21% 12,594,597 NYSE: WSJ pB12 "Sales of Furniture Perk Up" by Mary Ellen Lloyd says some big home furnishing retailers, furniture makers and appliance manufacturers are finally reporting rising customer visits and sales upticks after several years of recession repressed results. Home Depot and Lowes and Best By have all been selling more appliances.

AJC pA23 "HD Supply to lay off 350" by Rachel Tobin Ramos says this will happen to the former Home Depot division that was sold in '07 for $8.5 bil because the division distracted Home Depot from is flagship home improvement stores.

Intel INTC $19.38 -0.42 2.12% 92,694,365 NASDAQ-GS: WSJ pB1 "US Sues Intel Alleging New Market Abuses"by Don Clark, Thomas Catan, Fin Times p19 "US trade body sues Intel over alleged abuses" by Chris Nuttal, NYT pB1 "FTC Says Intel Stifles Competition" by Steve Lohr say the US FTC Wed sued Intel Corp. seeking to stop what it claimed was a decade of illegal sales tactics that hobbled competitors in the semiconductor market, adding to prior accusations against the firm. The complaint came he same day the regulators in Brussels agreed to abandon their decade long antitrust battle against Microsoft in exchange for a commitment from it that would distribute competing Web browsers alongside its own products. The 2 developments show how Intel, the kingpin in microprocessors that act as brains in pcs, has superceded Microsoft as a target for govs policing key high tech markets. Issue now is whether Intel impeded or spurred innovation in its efforts to counter smaller rivals. As in prior complaints filed in Europe, Japan, South Korea and by New York State, the FTC alleged that Intel used rebates or threats of retaliation to deter computer makers such as Hewlett-Packard, Dell and IBM from using AMD Microprocessor.

WSJ pC3 "Judge Accepts Kahn's Guilty Plea in Galleon Case" by Chad Bray (second article today in WSJ that has a typo) says US Magistrate Judge James Francis extended the deadline until Jan. 15, 2010 to indict the 4 others arrested with Raj Rajaratnam, founder of hedge fund firm Galleon Group. Included in the 4 are Robert Moffat, a former IBM senior vice pres., and Rajiv Goel, an Intel exec.

Fin Times p30 "Citigroup misses out on broad rally for financials" by Samantha Pearson says Wall St. trimmed its early gains after the Fed Reserve highlighted its intention to shut down some of its liquidity facilities as the economy improves. However, the Fed still left interest rates unchanged and issued the promise many equity investors had been hoping for: to keep rates exceptionally low for an extended period. The European Commm. ended a decade long battle with Microsoft, accepting the firm's offer to allow European computer users to choose rival internet browsers. Microsoft edged 0.3% higher. Intel dropped 2.1% after the US Fed Trade Com said it would sue the world's largest computer chip maker for abusing its market position for a decade. AMD, one of Intel's key rivals, rose on the news gaining 3.7%.

IBM $128.71 +0.22 0.17% 5,567,322 NYSE: WSJ pB1 "US Sues Intel Alleging New Market Abuses"by Don Clark, Thomas Catan say the US FTC Wed sued Intel Corp. seeking to stop what it claimed was a decade of illegal sales tactics that hobbled competitors in the semiconductor market, adding to prior accusations against the firm. The complaint came he same day the regulators in Brussels agreed to abandon their decade long antitrust battle against Microsoft in exchange for a commitment from it that would distribute competing Web browsers alongside its own products. The 2 developments show how Intel, the kingpin in microprocessors that act as brains in pcs, has superceded Microsoft as a target for govs policing key high tech markets. Issue now is whether Intel impeded or spurred innovation in its efforts to counter smaller rivals. As in prior complaints filed in Europe, Japan, South Korea and by New York State, the FTC alleged that Intel used rebates or threats of retaliation to deter computer makers such as Hewlett-Packard, Dell and IBM from using AMD Microprocessor.

WSJ pC3 "Judge Accepts Kahn's Guilty Plea in Galleon Case" by Chad Bray (second article today in WSJ that has a typo) says US Magistrate Judge James Francis extended the deadline until Jan. 15, 2010 to indict the 4 others arrested with Raj Rajaratnam, foudner of hedge fund firm Galleon Group. Included in the 4 are Robert Moffat, a former IBM senior vice pres., and Rajiv Goel, an Intel exec.

J.P.Morgan Chase JPM $41.36 +0.50 1.22% 40,802,229 NYSE: No mentions found.

Johnson & Johnson JNJ $64.8 +0.06 0.09% 11,578,271 NYSE: WSJ pB "J&J to Buy Acclarent for $785 Mil" in an article with a typo it says this deal will boost JNJ's presence in the er, nose and throat treatment business in an all cash deal that will close in the first quarter and will lower JNJ's adjusted '10 earnings by 3 to 4 cents a share.

Kraft KFT $27.15 +0.32 1.19% 8,959,293 NYSE: WSJ pC1 "RBS Draws Fire in UK Over Its Role In Kraft Deal" by Dana Cimilluca, Sara Schaefer Munoz says Robyal Bank of Scotland Group PLC's role as a ward of the British state cast the bank into another uncomfortable situatin, with some lawmakers protesting tis backing of Kraft Foods Inc.'s hostile bid for British candy icon Cadbury PLC. Members of Parliament and trade union leaders tried to block RBS's plan to make a loan to Kraft as part of its proposed bid cclaiming the deal is contrary to Britain's nat'l inerest.

McDonald's MCD $62.42 +0.42 0.68% 4,980,902 NYSE: No mentions found.

Merck MRK $37.75 -0.25 0.66% 14,700,660 NYSE: No mentions found.

Microsoft MSFT $30.1 +0.08 0.27% 50,795,035 NASDAQ-GS: Fin Times p19 "Brussels accepts Microsoft's browser offer" by Nikki Tait, Maija Palmer, NYT pB2 "Europe Drops Microsoft Antittrust Case" by Kevin J. O'Brien, WSJ pB1 "US Sues Intel Alleging New Market Abuses"by Don Clark, Thomas Catan say regulators in Brussels agreed to abandon their decade long antitrust battle against Microsoft in exchange for a commitment from it that would distribute competing Web browsers alongside its own products. Also, the US FTC Wed sued Intel Corp. seeking to stop what it claimed was a decade of illegal sales tactics that hobbled competitors in the semiconductor market, adding to prior accusations against the firm. The 2 developments show how Intel, the kingpin in microprocessors that act as brains in pcs, has superceded Microsoft as a target for govs policing key high tech markets. Issue now is whether Intel impeded or spurred innovation in its efforts to counter smaller rivals.

WSJ pB4 "Ford Seeks iPhone Like Apps for Its Cars" by Ben Charny, Matthew Dolan says Ford is working to offer drives a way to upgrade the electronics in their vehicles, much he same way they can add apps to their iPhones and BlackBerrys. Ford hopes to persuade software developers to tap the Internet service, GPS locations finding capability and digital music setup already found in its Sync entertainment and communications system, which it developed with Microsoft.

Fin Times p30 "Citigroup misses out on broad rally for financials" by Samantha Pearson says Wall St. trimmed its early gains after the Fed Reserve highlighted its intention to shut down some of its liquidity facilities as the economy improves. However, the Fed still left interest rates unchanged and issued the promise many equity investors had been hoping for: to keep rates exceptionally low for an extended period. The European Commm. ended a decade long battle with Microsoft, accepting the firm's offer to allow European computer users to choose rival internet browsers. Microsoft edged 0.3% higher. Intel dropped 2.1% after the US Fed Trade Com said it would sue the world's largest computer chip maker for abusing its market position for a decade. AMD, one of Intel's key rivals, rose on the news gaining 3.7%.

WSJ pB4 "From the Archive" has a headline from 1991 "Microsoft Corp. is the Target Of FTC Probe" and says for more info go to WSJ.com/Business.

Pfizer PFE $18.41 +0.12 0.66% 34,664,929 NYSE: No mentions found.

Procter & Gamble PG $62.16 +0.04 0.06% 9,851,891 NYSE; AJC pA23 "Kroger cuts P&G digital coupons" by Rana L. Cash says Korger and Procter Gamble have come to an impasse and will part ways, in an Internet sense, at the end of the year which means that Kroger.com will no longer host the P&G eSavers electronic coupons on its Web site and P&G digital coupons will no longer be valid on the Kroger Plus loyalty card. The maker of everything from Pampers to Pringles, P&G is a major player in the world of grocer goods. But Kroger was unable to persuade P&G to keep its coupons on the Kroger site without redirecting shoppers directly to the P&G site so P&G will discontinue its eSaver program with Kroger after Dec. 31. Paper P&G coupons will still be accepted.

3M MMM $81.72 -0.98 1.19% 3,978,017 NYSE: No mentions found.

Travelers TRV $49.7 -0.71 1.41% 5,024,653 NYSE: No mentions found.

United Technologies UTX $70.25 unch unch 5,234,573 NYSE: No mentions found.

Verizon VZ $32.71 -0.30 0.91% 18,737,168 NYSE: WSJ pB4 "Apple Sets High Bar For RIM & Palm" by Uakri Iwatani Kane, Niraj Sheth says Research in MMotion and Palm report quarterly results Thurs that will likely show sales gains but little headway against rival Apple's iPhone. The launch of RIM's Storm 2 device, available through Verizon Wireless, wa overshadowed by the release of Motorola's Droid which benefited from the backiing of a $100 mil marketing blitz by Verizon Wireless, a jv between Verizon Communications Inc. and Vodafone Group.

WalMart WMT $53.32 -0.66 1.22% 17,137,841 NYSE: No mentions found.