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Post #249 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 Monday at 10,390.11 up 1.21 or 0.01% from Friday's close of 10,388.14. Of the 30 Dow Companies: 16 gained, 1, Merck, was unchanged and 13 declined. The biggest decliner dollar-wise was Caterpillar CAT $57.56 -0.74 1.27% 6,797,304 NYSE and percentage-wise was Bank of America BAC $15.89 -0.39 2.4% 287,657,435 NYSE. The biggest gainer dollar-wise was WalMart WMT $54.93 +0.69 1.27% 11,305,235 NYSE and percentage-wise was Boeing BA $55.82 +1.14 2.08% 4,904,341 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 18.02 up from Fri. morning's 17.98 (year ago it was 18.03) the P/E estimate is 16.05 down from Fri.'s 16.17 (year ago it was 9.93) and the current dividend yield is 2.67 unchanged from Fri. morning's 2.67 (it was 3.63 a year ago).
Monday's Dow Jones Industrial Average closing numerator was 1374.81 up 0.26 from Friday's closing Dow numerator of 1374.55. 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 0.26 for Monday by the divisor you get the increase in Monday's Dow close of 1.21.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 45.83 down 0.01 from Friday's Dow Jones Industrial Average closing price of $45.82. The median closing price of Monday's Dow Jones Industrial Average was $40.33 down 0.21 from Friday's $40.54. The lowest volume Monday was again 3M MMM $77.91 -0.33 0.42% 3,025,724 NYSE and the highest volume again was Bank of Am BAC $15.89 -0.39 2.4% 287,657,435 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 made $21 ($137,481 - $137,460).
Monday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $27.97 +0.37 1.34% 24,390,637 NYSE
Alcoa AA $13.05 +0.06 0.46% 21,713,306 NYSE
American Express AXP $39.41 +0.11 0.28% 9,137,653 NYSE
Bank of America BAC $15.89 -0.39 2.4% 287,657,435 NYSE
Boeing BA $55.82 +1.14 2.08% 4,904,341 NYSE
Caterpillar CAT $57.56 -0.74 1.27% 6,797,304 NYSE
Chevron CVX $78.17 +0.10 0.13% 7,443,609 NYSE
Cisco CSCO $24.21 +0.05 0.21% 32,800,541 NASDAQ-GS
Coca-Cola KO $57.87 +0.38 0.66% 8,124,992 NYSE
Disney DIS $31 +0.16 0.52% 12,399,163 NYSE
DuPont DD $32.4 +0.06 0.19% 9,182,565 NYSE
ExxonMobil XOM $73.77 -0.48 0.65% 17,708,757 NYSE
GE $16.08 -0.12 0.74% 64,076,293 NYSE
Hewlett-Packard HPQ $49.21 -0.58 1.16% 12,918,426 NYSE
Home Depot HD $28.22 +0.14 0.5% 12,587,518 NYSE
Intel INTC $20.37 -0.09 0.44% 46,714,657 NASDAQ-GS
IBM $127.04 -0.21 0.17% 4,089,576 NYSE
JPMorgan JPM $41.25 0.49 1.17% 32,265,695 NYSE
Johnson & Johnson JNJ $64.37 +0.01 0.02% 9,011,056 NYSE
Kraft KFT $26.68 +0.11 0.41% 8,960,508 NYSE
McDonald's MCD $61.93 +0.34 0.55% 8,997,086 NYSE
Merck MRK $36.7 unch unch 9,863,697 NYSE
Microsoft MSFT $29.79 -0.19 0.63% 37,685,993 NASDAQ-GS
Pfizer PFE $18.06 -0.43 2.33% 75,409,971 NYSE
Procter & Gamble PG $62.47 -0.13 0.21% 8,875,876 NYSE
3M MMM $77.91 -0.33 0.42% 3,025,724 NYSE
Travelers TRV $50.57 -0.47 0.92% 3,888,172 NYSE
United Technologies UTX $68.86 +0.54 0.79% 3,445,433 NYSE
Verizon VZ $33.25 +0.55 1.68% 16,042,801 NYSE
WalMart WMT $54.93 +0.69 1.27% 11,305,235 NYSE
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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.