12/20/09 Sunday Barron's Likes JPM, BofA, Citi & Wells

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Post #271 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 Sunday's 12/20/09 print editions of: The New York Times, Atlanta Journal Constitution, 12/21/09 Barron's, 12/28/09 and 1/4/10 double issue of Time & 12/14/09, Securities Industries News & Almanac '09 issue of Corporate Counsel yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's closing price and related data:

Dow: The Dow Jones Industrial Average closed Friday at 10,328.89 up 20.63 or 0.2% from Thursday's close of 10,308.26. For the week the Dow was down 1.4% from last Friday's close of 10,471.5. Year to date the Dow is up 17.69%. Of the 30 Dow Companies: 18 gained and 12 declined. The biggest gainer dollar-wise was Hewlett-Packard HPQ $51.5 +0.94 1.86% 21,045,256 NYSE and percentage-wise was Intel INTC $19.63 +0.56 2.94% 93,079,781 NASDAQ-GS. The biggest decliner dollar-wise and percentage-wise was Boeing BA $53.44 -1.03 1.89% 8,767,691 NYSE.

(From Sat.) WSJ pB1 "Despite Gain, Blue Chips End the Week Down 1.4%" by Peter A. McKay says stocks rose Fri. as an earnings-fueled rally bolstered tech stocks, but the gains were limited after a rocky week in which investors worried about sovereign credit and the global economy. After sliding more than 44 points Fri. morning, the Dow Jones Industrial Average finished up 0.2%, led by Intel's 2.8% gain. The Dow was down 1.4% for the week, the biggest decline in more than a month.

(From Sat.) WSJ pB3 "RIMM Gains 10%, Oracle Adds 6.4%" by Donna Kardos Yesalavich says stocks closed higher Fri. as better than expected earnings reports from Oracle and Research in Motion boosted investors' appetite for tech stocks such as Intel, Microsoft and Hewlett-Packard. Intel, Microsoft and HP led the Dow's gainers Fri. Boeing kept the Dow's gains in check Fri. It fell 1.9% after budget airline Ryanair Holdings said talks to order up to 200 new aircraft with Boeing were terminated after the firms failed to agree on certain conditions.

(From Sat.) Fin Times p14 "Oracle and Rim Results help tech sector stand out" by Samantha Pearson says encouraging results from the tech sector failed to keep Wall Street out of the red yesterday as the stronger dollar began to dominate trading.

(From Sat.) Inv. Bus Daily pA1 "Nasdaq Leads On Strong Tech Earnings" by Paul Whitfield says he tech sector sparked a rise Fri as the Nasdaq led the market higher. Friday's action was p in higher volume and the current outlook is uptrend under pressure.

(From Sat) NYT pB7 "As Holiday Slowdown Nears, Markets Climb on a Choppy Day of Trading" by Javier C. Hernandez says volatility marked what was probably the last big trading session of the year on Fri as investors tried to take advantage of better than expected profits from tech firms. shares meandered for much of he day, while the dollar continued to strengthen, touching $1.43 against the Euro.

As of the open of the market Saturday, the current divisor for the Dow found at page B4 of Saturdday's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.92 up from Friday's 17.88 (year ago it was 17.92) the P/E estimate is 16.00 down from Friday's 16.19 (year ago it was 10.45) and the current dividend yield is 2.69 unchanged from Fri.s 2.69 (it was 3.66 a year ago).

Friday's Dow Jones Industrial Average closing numerator was 1366.71 up 2.73 from Thursday's closing Dow numerator of 1363.98. 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 2.73 for Friday by the divisor you get the increase in Friday's Dow close of 20.63.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 45.56 up 0.09 from Thursday's Dow Jones Industrial Average closing price of $45.47. The median closing price of Friday's Dow Jones Industrial Average was 40.73 up 0.36 from Thursday's $40.37. The lowest volume Friday was 3M MMM $80.97 +0.50 0.62% 6,571,885 NYSE and the highest volume again was Bank of Am BAC $15.03 +0.17 1.14% 200,135,753 NYSE.

If Friday 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 273 ($136,671 - $136,398).

AT&T T $27.32 +0.10 0.37% 45,273,757 NYSE: No mentions found.

Alcoa AA $14.58 +0.08 0.55% 29,419,085 NYSE: No mentions found.

American Express AXP $40.51 +0.06 0.15% 10,668,645 NYSE: In Times' profile on Man of the Year Ben Bernanke it notes at p78 that he carries an American Express credit card in his wallet.

Bank of America BAC $15.03 +0.17 1.14% 200,135,753 NYSE: Barron's p40 "Big Opportunity in 4 Big Banks" by Andrew Bary says bank shares have been laggards, as investor play an economic reovery through other sectors but the author is bullish on Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.

Barron's p18 "Week In Review" says Bank of America named Brian Moynihan to succeed Ken Lewis as CEO.

Time p36 in "Fueds" says one of the year's biggest fueds was Bof A's Ken Lewis vs. Merril's John Thain.

Boeing BA $53.44 -1.03 1.89% 8,767,691 NYSE: AJC pD! "Air industry headwinds" examines the impact of the recession on airplane firms with ties to Georgia and of the six firms studied, it ntoes that Boeing with a military aircraft subassembly plant in Macon, Ga employs 600 workers.

Barron's p18 "Week In Review" says Boeing launched its Dreamliner.

Caterpillar CAT $57.19 -0.34 0.59% 7,158,659 NYSE: No mentions found.

Chevron CVX $76.9 +0.12 0.16% 15,997,547 NYSE: No mentions found.

Cisco CSCO $23.33 +0.15 0.65% 63,658,339 NASDAQ-GS: No mentions found.

Coca-Cola KO $56.92 -0.06 0.11% 18,416,378 NYSE: No mentions found.

Disney DIS $31.95 +0.02 0.06% 15,229,617 NYSE: Barron's p18 "Week In Review" says Roy Disney, 79, Walt's nephew an dissident Walt Disney director died. He helped unseat CEO Michael Eisner.

DuPont DD $31.87 -0.14 0.44% 8,696,705 NYSE: No mentions found.

ExxonMobil XOM $68.21 -0.01 0.01% 60,852,292 NYSE: Barron's p18 in Week in Review says ExxonMobil looking to expand into the fast growing natural gas industry, said it will buy XTO, a major developer of unconventional resources including shale oil, for $31 bil. Exxon can end the deal if Congress tightens rules on a controversial drilling technique known as fracking.

Barron's pM3 "The Trader" by Kopin Tan, Dimitra DeFotis says Exxon Mobil's planned acquisition of XTO is boosting the takeover potential of other oil shale plays. Two picks for M&A possibilities are Range Resources and Quicksilver Resources.

Barron's pM9 "Charting the Market charts ExxonMobil saying it will buy XTO Energy for $41 bi ($10 bil of assumed debt), a generous 25% premium to the energy firm's previous closing price.

Corp. Counsel p23 "The Top Ten totals" has ExxonMobil's General Counsel as 8th, Charles Wall made $7,749,843 in '09 and GE's Brackett Denniston III was 10th earning $7,170,984.

GE $15.59 -0.20 1.27% 77,369,850 NYSE: Corp. Counsel p10 "Feeling the Big Squeeze" by Alan Cohen says Microsoft realized that most of its cases against counterfeit software makers were similar and predictable so their lawyers at Perkins Coie now do the work on a flat fee, per case arrangement. GE convinced outside counsel to charge different fees for different services so tasks like document review aren't bill at the same hourly rates as more complicated tasks. The article talks about what happened to lawyers laid off at Merrill Lynch after it was taken over by Bank of America and says former BofA General Counsel Timothy Mayopoulos was named Fannie Mae's top lawyer.

Corp. Counsel p23 "The Top Ten totals" has ExxonMobil's General Counsel as 8th, Charles Wall made $7,749,843 in '09 and GE's Brackett Denniston III was 10th earning $7,170,984.

Hewlett-Packard HPQ $51.5 +0.94 1.86% 21,045,256 NYSE: AJC D4 says this past week Hewlett Packard lowered its annual earnings estimate from 3.25 to 3.14.

Time p36 in "Biz Deals" says the 7th biggest deal in '09 was HpQ's purchase of EDS.

Home Depot HD $28.65 -0.15 0.52% 16,847,792 NYSE: AJC Section A has two stories that mention that Pres. Obama met with Frank Blake, the CEO of Home Depot this week, including at a Home Depot Store where the President gave a speech.

Barron's p19 "Home for the Holidays" says although people still aren't paying full price, they are shopping for the big ticket items and that is one reason Home Depot and Lowe's reached 52 week highs.

Intel INTC $19.63 +0.56 2.94% 93,079,781 NASDAQ-GS: Barron's p18 in Week in Review says the FTC sued Intel, charging it used illegal tactics to limit competition, joining regulators from other nations that have made similar charges. Meanwhile, EU regulators dropped their decade long antitrust battle against Microsoft.

Barron's p37 "Some Reasons to Be Bullish About 2010" by Eric J. Savitz says Citigroup analyst Glen Yeung is bullish on PC related stocks including Intel, Nvidia and Advanced Micros Device.

IBM $127.91 +0.51 0.4% 8,877,705 NYSE: Corp. Counsel p20 "Cover Story Big Brains" tells how IBM's lawyers retooled IBM for an open source based future. For the 580 lawyers in IBM's global legal team, helped IBM earn record revenues and earnings pe share in '08.

JPMorgan Chase JPM $40.95 +0.68 1.69% 47,354,422 NYSE: Barron's p40 "Big Opportunity in 4 Big Banks" by Andrew Bary says bank shares have bbeen laggards, as investor play an economic reovery through other sectors but the author is bullish on Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.

Barron's pM9 "Charting the Market charts JPMorgan Emerging Mkt. bond Fund" saying credit worries worsened as Greece was quickly downgraded by rating agencies and Eastern european sovereign debt began to look vulnerable.

Time p36 in "Biz Deals" says JPMMorgan Chase skipped dogy CDO's, and says solvent.

Johnson & Johnson JNJ $64.37 -0.10 0.16% 21,621,129 NYSE: Barron's pM12 says one JNJ insider recently sold 96,742 shares for $6,265,000.

Kraft KFT $27.01 +0.13 0.48% 12,684,526 NYSE: No mentions found.

McDonald's MCD $62.17 +0.25 0.4% 9,486,974 NYSE: No mentions found.

Merck MRK $37.4 +0.12 0.32% 24,759,165 NYSE: No mentions found.

Microsoft MSFT $30.36 +0.76 2.57% 88,933,360 NASDAQ-GS: Barron's p18 in Week in Review says the FTC sued Intel, charging it used illegal tactics to limit competition, joining regulators from other nations that have made similar charges. Meanwhile, EU regulators dropped their decade long antitrust battle against Microsoft.

Barron's p15 "2010 Musings: Will Tiger's Loss Be Nike's Gain?" by Michael Santoli, Andrew Bary says Procter & gamble's Gillette canceled Woods' contract due to allegations of affiars. The contract paid Woods $4 mil a year for 5 years. In '08, Microsoft canceled a 2 year conract that paid Lebron James $5 mil a year because the "Marketing relationship was somewhat perplexing."

Corp. Counsel p10 "Feeling the Big Squeeze" by Alan Cohen says Microsoft realized that most of its cases against counterfeit software makers were similar and predictable so their lawyers at Perkins Coie now do the work on a flat fee, per case arrangement. GE convinced outside counsel to charge different fees for different services so tasks like document review aren't bill at the same hourly rates as more complicated tasks. The article talks about what happened to lawyers laid off at Merrill Lynch after it was taken over by Bank of America and says former BofA General Counsel Timothy Mayopoulos was named Fannie Mae's top lawyer.

Pfizer PFE $18.3 +0.08 0.44% 60,409,826 NYSE: Barron's p41 & AJC D4 says this past week Pfizer increased its quarterly dividend to .18 from .16. This gives the stock a 3.9% yield. The dividend is now $650 mil a year.

Procter & Gamble PG $61.55 -0.04 0.06% 22,191,602 NYSE: Barron's p15 "2010 Musings: Will Tiger's Loss Be Nike's Gain?" by Michael Santoli, Andrew Bary says Procter & gamble's Gillette canceled Woods' contract due to allegations of affairs. The contract paid Woods $4 mil a year for 5 years. In '08, Microsoft canceled a 2 year contract that paid Lebron James $5 mil a year because the "Marketing relationship was somewhat perplexing."

3M MMM $80.97 +0.50 0.62% 6,571,885 NYSE: No mentions found.

Traveler's TRV $48.14 -0.24 0.5% 9,183,042 NYSE: No mentions found.

United Technologies UTX $69.46 -0.12 0.17% 9,339,694 NYSE: No mentions found.

Verizon VZ $32.8 -0.01 0.03% 17,623,508 NYSE: No mentions found.

WalMart WMT $52.85 +0.09 0.17% 25,192,195 NYSE: NYT pBus 1 "My Initiation At Store 5476" by Stephanie Rosenbloom is a story about the reporter's stint as a WalMart sales associate in a store outside of Phil that employs 425 people and has more than 200,000 square feet. Walmart has grocery distribution centers so big that they can house up to 4 mil bananas at once & is considered an industry leader in logistics. The average WalMart truck driver logs more than 100,000 miles a year.

NYT Bus p7 "The Wealthy As Crusaders For Justice" by Harry Hutrt reviews Ralph nader's latest book "Only the Super-Rich Can Save Us!" where Nader fantasizes that a group of rich people called The Meliorists consisting of a semi covert group of rich people that includes Warren Buffett, George Soros, Ted Turner, Bill Cosby, the late Paul Newman, Barry Diller, Ross Perot, Bill Gates Sr. & Yoko Ono transform America's landscape by doing things like leading a successful campaign to unionize WalMart as part of a larger effort to reform a low wage business economy.

Barron's p36 "Barron's Take" by Teresa Rivas says Stifel Nicolaus analyst David Schick initiated coverage of walMart with a Hold rating, writing that WMT has become so big it would be the 26th largest economy in the world if it were a country that it constitutes its own asset class. he introduces a barometer: his WalMart Amlagamated Leading Economic Index that correlates with Walmart's stock price over the past 10 years.

Time p36 in "Fueds" says one of the year's biggest fueds was Walmart vs. Amazon vs. Target.
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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.

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).

Wal-Mart WMT: 12/8/09 10Q