1/16/10 Sat. .JPMorgan's 4Q Profits $3.28 Bil but their Retail Falters

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Post #246 The following is brought to you by Intellivest Securities Research, Inc. Towards the end of this Blog is a list of the Dow 30 current CEOs, a ranking of the Dow 30 components by market capitalization as of 1/13/10 and an update of the Dow 30component's most recent SEC filings as of 1/13/10.

A read of Saturday's print editions of: The Wall St. Journal, Financial Times, The New York Times, & Atlanta Journal Constitution 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 10,609.65 down 100.9 or 0.94% from Thursday's close of 10,710.55. For the year the Dow is up 1.74%. For the week the Dow Jones Industrial Average is down 8.54 or .8% from last Friday's close of 10,618.19. Of the 30 Dow Companies: 3 gained and 27 declined. The biggest gainer dollar-wise and percentage-wise was Kraft KFT $29.58 +0.46 1.58% 25,823,517 NYSE. The biggest decliner dollar-wise and percentage-wise was Caterpillar CAT $60.12 -1.86 3% 9,335,536 NYSE.

WSJ pB1 "Blue Chips Fall 100.9, In the Worst Skid of '10" by Peter A. McKay says US stocks had their worst decline of the year on Fri. as the first week of earnings season failed to live up to investors' lofty expectations. J.P. Morgan Chase's results showed the firm's retail bank was still struggling, adding to evidence that the US consumer is still far from recovery. Chip maker Intel also failed to inspire investors with earnings and a forecast that exceeded forecasts. The Dow Jones Industrial Average fell 0.0%, its biggest decline since Dec. 31 and down 0.8% for the week. JP Morgan's revenue disappointed and news of a loss at tis retail bank worried investors,. JPM dropped 2.3% leading a decline in financial stocks. Bank of America fell 3.3%. Next week brings a wave of reports as IBM, Citigroup and CSX release results Tues, while BofA, Morgan Stanley and Starbucks follow on Wed.

WSJ pB3 "Intel, J.P.Morgan Turn Week Red" by Donna Kardos Yesalavich says stocks fell broadly despite earnings from Intel and J.P.Morgan Chase coming in above analysts' estimates, as weaker than expected re from J.P.Morgan weighed on fin'ls, while troubles on the consumer side of its business raised concerns across other sectors. Fri's drop put stocks in negative territory for the week, marking the second week of declines in the past 3. Bank of America was the Dow's worst performer on Fri. or 3.3% after J.P. Morgan's 4Q earnings quadrupled, exceeding forecasts, but its rev came in below analysts' estimates and the bank posted losses in its card services, consumer lending and retail financial services segments. Side bar charts J.P. Morgan Chase, Alcoa saying it plunged 11% Tues after kicking off the week with results that proved disappointing and Chevron saying Chevron gained one day after a broker lifted its rating to buy and then fell the next when its outlook fell short of expectations.

NYT pB7 "Dow Plunges 100 Points On JPMorgan's News" by Javier C. Hernandez says stock prices fell sharply on Fri., the worst day of trading this eyar, as worries over the strength of the American consumer eclipsed a round of mostly positive earnings reports.

Fin Times p14 "Financials keep gains in check despite Intel relief" by Samantha Pearson says disappointing results from JPMorgan Chase dragged Wall St. lower yesterday, renewing concerns about the remainder of the fourth quarter earnings season.

As of the close of the market Friday, the current divisor for the Dow found at page B4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 17.79 down from Friday morning's 18.8 (year ago it was 18.54) the P/E estimate is 13.65 down from Friday's 13.75 (year ago it was 10.00) and the current dividend yield is 2.58 up from Friday's 2.55 (it was 3.80 a year ago).

Friday's Dow Jones Industrial Average closing numerator was 1,403.86 down 13.35 from Thursday's closing Dow numerator of 1417.21. 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 13.35 for Friday by the divisor you get the decrease in Friday's Dow close of 100.9.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 46.80 down 0.44 from Thursday's Dow Jones Industrial Average closing price of $47.24. The median closing price of Friday's Dow Jones Industrial Average was 43.04 down 0.65 from Thursday's $43.69. The lowest volume again was 3M MMM $83.37 -0.13 0.16% 3,922,173 NYSE and the highest volume again was Bank of Am BAC $16.26 -0.56 3.33% 193,418,987 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 lost $1,410 ($141,810 - $140,400).

AT&T T $25.79 -0.40 1.53% 63,727,888 NYSE: WSJ pB5 "Verizon, A&T Escalate Pricing War" by Niraj Sheth says under pressure to hold onto subsribers, the nation's 2 largest wireless carriers cut prices on their calling plans Fri.l to bring them closer in line to competitors. Verizon Wireless announced it would drop the cost of its unlimited calling plan from $100 a month to $70 and AT&T the next days followed suit. The new rates take effect Mond. Unlimited calling and data transfers for smart phones, including headlining devices like the iPhone at At&T and the Droid at Verizon, now costs $100 a month on both carriers, down from $130 before the latest discounting. Unlimited text messaging costs an additional $20.

Alcoa AA $15.63 -0.18 1.14% 33,221,996 NYSE: WSJ pB3 "Intel, J.P.Morgan Turn Week Red" by Donna Kardos Yesalavich says stocks fell broadly despite earnings from Intel and J.P.Morgan Chase coming in above analysts' estimates, as weaker than expected re from J.P.Morgan weighed on fin'ls, while troubles on the consumer side of its business raised concerns across other sectors. Fri's drop put stocks in negative territory for the week, marking the second week of declines in the past 3. Bank of America was the Dow's worst performer on Fri. or 3.3% after J.P. Morgan's 4Q earnings quadrupled, exceeding forecasts, but its rev came in below analysts' estimates and the bank posted losses in its card services, consumer lending and retail financial services segments. Side bar charts J.P. Morgan Chase, Alcoa saying it plunged 11% Tues after kicking off the week with results that proved disappointing and Chevron saying Chevron gained one day after a broker lifted its rating to buy and then fell the next when its outlook fell short of expectations.

American Express AXP $42.39 -0.29 0.68% 13,560,460 NYSE: No mentions found.

Bank of America BAC $16.26 -0.56 3.33% 193,418,987 NYSE: WSJ pB1 "Blue Chips Fall 100.9, In the Worst Skid of '10" by Peter A. McKay says US stocks had their worst decline of the year on Fri. as the first week of earnings season failed to live up to investors' lofty expectations. J.P. Morgan Chase's results showed the firm's retail bank was still struggling, adding to evidence that the US consumer is still far from recovery. Chip maker Intel also failed to inspire investors with earnings and a forecast that exceeded forecasts. The Dow Jones Industrial Average fell 0.0%, its biggest decline since Dec. 31 and down 0.8% for the week. JP Morgan's revenue disappointed and news of a loss at tis retail bank worried investors,. JPM dropped 2.3% leading a decline in financial stocks. Bank of America fell 3.3%. Next week brings a wave of reports as IBM, Citigroup and CSX release results Tues, while BofA, Morgan Stanley and Starbucks follow on Wed.

WSJ pB1 "Hershey Drafting Cadbury Bid by Jeffrey McCracken, Dana Cimilluca, Ilan Brat says Hershey plans to bid at least $17.9 bil next week for Cadbury after concluding it has the financial muscle to top Kraft's $17.2 bil bid. Hershey is putting the finishing touches on a package that could kick off the kind of int'l bidding war that has largely disappeared since the Wall st fin'l crisis of '08. The package now includes a loan of at least $10 nmil from banks including JPMorgan Chase and BofA Merrill Lynch and would include $5 bil in new Hershey shares and $3 bil from private investors and the Hershey trust. The bid would be $12.99 a share.

WSJ pB3 "J.P. Morgan Takes a Retail Hit" by Robin Sidel says a huge rebound in trading and investment banking propelled J.P.Morgan Chase to quarterly profit of $3.28 bil, but unrelenting losses on consumer loans cast gloom across US banks heading into next week's flurry of earnings reports. The largest US bank in stock market value also said it is nipping bonuses for investment bankers by an unspecified amount to help offset the cost of the new UK bonus tax. The move spreads fin'l pain from the one time tax of 50% on certain bonuses paid in the US. 4Q profit at J.P. Morgan soared to $3.28 bil or 74 cents a share from the year earlier $702 mil or six cents a share. Rev climbed 32% to $25.4 bil in the latest quarter. Retail banking operations at the NY firm swung to a net loss of $400 mil in 4Q from a profit of $624 mil in 4Q '08. Defaults still are rising for home equity loans and mortgages held by subprime borrowers. The investment bank at J.P. Morgan cranked out earnings of $1.9 bil in 4Q, up froma year earlier net loss of $2.4 bil. JPMorgan won't increase its dividend until mid '10 at the earliest said CEO James Dimon. The results dragged down financial stocks overall, especially US banks with large exposure to consumer loans. Bank of America fell 3.3%.

Boeing BA $60.82 -0.74 1.2% 5,037,420 NYSE: No mentions found.

Caterpillar CAT $60.12 -1.86 3% 9,335,536 NYSE: No mentions found.

Chevron CVX $79.23 -0.32 0.4% 13,420,954 NYSE: WSJ pB3 "Intel, J.P.Morgan Turn Week Red" by Donna Kardos Yesalavich says stocks fell broadly despite earnings from Intel and J.P.Morgan Chase coming in above analysts' estimates, as weaker than expected re from J.P.Morgan weighed on fin'ls, while troubles on the consumer side of its business raised concerns across other sectors. Fri's drop put stocks in negative territory for the week, marking the second week of declines in the past 3. Bank of America was the Dow's worst performer on Fri. or 3.3% after J.P. Morgan's 4Q earnings quadrupled, exceeding forecasts, but its rev came in below analysts' estimates and the bank posted losses in its card services, consumer lending and retail financial services segments. Side bar charts J.P. Morgan Chase, Alcoa saying it plunged 11% Tues after kicking off the week with results that proved disappointing and Chevron saying Chevron gained one day after a broker lifted its rating to buy and then fell the next when its outlook fell short of expectations.

Cisco CSCO $24.4 -0.55 2.2% 51,014,974 NASDAQ-GS: No mentions found.

Coca-Cola KO $56.29 -0.84 1.47% 13,660,231 NYSE: No mentions found.

Disney DIS $30.6 -0.42 1.35% 13,890,448 NYSE: No mentions found.

DuPont DD $34.01 -0.08 0.23% 6,596,530 NYSE: No mentions found.

ExxonMobil XOM $69.11 -0.57 0.82% 29,157,813 NYSE: No mentions found.

GE $16.44 -0.26 1.56% 73,768,507 NYSE: No mentions found.

Hewlett-Packard HPQ $52.47 -0.04 0.08% 13,294,137 NYSE: No mentions found.

Home Depot HD $28.57 +0.27 0.95% 22,946,162 NYSE: No mentions found.

Intel INTC $20.8 -0.68 3.17% 196,887,174 NASDAQ-GS: WSJ pB1 "Blue Chips Fall 100.9, In the Worst Skid of '10" by Peter A. McKay says US stocks had their worst decline of the year on Fri. as the first week of earnings season failed to live up to investors' lofty expectations. J.P. Morgan Chase's results showed the firm's retail bank was still struggling, adding to evidence that the US consumer is still far from recovery. Chip maker Intel also failed to inspire investors with earnings and a forecast that exceeded forecasts. The Dow Jones Industrial Average fell 0.0%, its biggest decline since Dec. 31 and down 0.8% for the week. JP Morgan's revenue disappointed and news of a loss at tis retail bank worried investors,. JPM dropped 2.3% leading a decline in financial stocks. Bank of America fell 3.3%. Next week brings a wave of reports as IBM, Citigroup and CSX release results Tues, while BofA, Morgan Stanley and Starbucks follow on Wed.

WSJ pB3 "Intel, J.P.Morgan Turn Week Red" by Donna Kardos Yesalavich says stocks fell broadly despite earnings from Intel and J.P.Morgan Chase coming in above analysts' estimates, as weaker than expected re from J.P.Morgan weighed on fin'ls, while troubles on the consumer side of its business raised concerns across other sectors. Fri's drop put stocks in negative territory for the week, marking the second week of declines in the past 3. Bank of America was the Dow's worst performer on Fri. or 3.3% after J.P. Morgan's 4Q earnings quadrupled, exceeding forecasts, but its rev came in below analysts' estimates and the bank posted losses in its card services, consumer lending and retail financial services segments. Side bar charts J.P. Morgan Chase, Alcoa saying it plunged 11% Tues after kicking off the week with results that proved disappointing and Chevron saying Chevron gained one day after a broker lifted its rating to buy and then fell the next when its outlook fell short of expectations.

IBM $131.78 -0.53 0.4% 8,456,725 NYSE: WSJ pB1 "Blue Chips Fall 100.9, In the Worst Skid of '10" by Peter A. McKay says US stocks had their worst decline of the year on Fri. as the first week of earnings season failed to live up to investors' lofty expectations. J.P. Morgan Chase's results showed the firm's retail bank was still struggling, adding to evidence that the US consumer is still far from recovery. Chip maker Intel also failed to inspire investors with earnings and a forecast that exceeded forecasts. The Dow Jones Industrial Average fell 0.0%, its biggest decline since Dec. 31 and down 0.8% for the week. JP oOrgan's revenue disappointed and news of a loss at its retail bank worried investors,. JPM dropped 2.3% leading a decline in financial stocks. Bank of America fell 3.3%. Next week brings a wave of reports as IBM, Citigroup and CSX release results Tues, while BofA, Morgan Stanley and Starbucks follow on Wed.

J.P.Morgan Chase JPM $43.68 -1.01 2.26% 69,499,416 NYSE: NYT pB1 "Profit in '09 Is $11.7 Bil for JPMorgan" by Eric Dash, WSJ pB3 "J.P. Morgan Takes a Retail Hit" by Robin Sidel & Fin Times p1 headline JPMorgan bows to pressure over pay" by Francesco Guerrera, Patrick Jenkins say a huge rebound in trading and investment banking propelled J.P.Morgan Chase to quarterly profit of $3.28 bil, but unrelenting losses on consumer loans cast gloom across US banks heading into next week's flurry of earnings reports. The largest US bank in stock market value also said it is nipping bonuses for investment bankers by an unspecified amount to help offset the cost of the new UK bonus tax. The move spreads fin'l pain from the one time tax of 50% on certain bonuses paid in the US. 4Q profit at J.P. Morgan soared to $3.28 bil or 74 cents a share from the year earlier $702 mil or six cents a share. Rev climbed 32% to $25.4 bil in the latest quarter. Retail banking operations at the NY firm swung to a net loss of $400 mil in 4Q from a profit of $624 mil in 4Q '08. Defaults still are rising for home equity loans and mortgages held by subprime borrowers. The investment bank at J.P. Morgan cranked outearnings of $1.9 bil in 4Q, up froma year earlier net loss of $2.4 bil. JPMorgan won't increase its dividend until mid '10 at the earliest said CEO James Dimon. The results dragged down financial stocks overall, especially US banks with large exposure to consumer loans. Bank of America fell 3.3%.

WSJ pB1 "Blue Chips Fall 100.9, In the Worst Skid of '10" by Peter A. McKay says US stocks had their worst decline of the year on Fri. as the first week of earnings season failed to live up to investors' lofty expectations. J.P. Morgan Chase's results showed the firm's retail bank was still struggling, adding to evidence that the US consumer is still far from recovery. Chip maker Intel also failed to inspire investors with earnings and a forecast that exceeded forecasts. The Dow Jones Industrial Average fell 0.0%, its biggest decline since Dec. 31 and down 0.8% for the week. JP Morgan's revenue disappointed and news of a loss at its retail bank worried investors. JPM dropped 2.3% leading a decline in financial stocks. Bank of America fell 3.3%. Next week brings a wave of reports as IBM, Citigroup and CSX release results Tues, while BofA, Morgan Stanley and Starbucks follow on Wed.

WSJ pB12 "J.P. Morgan Still Taking a Mauling" by Peter Eavis says J.P. Morgan is going to be living with the consequences of the credit crunch for a long time because of its large investment bank and mortgage exposure to mortgages and subprime loans.

WSJ pB3 "Intel, J.P.Morgan Turn Week Red" by Donna Kardos Yesalavich says stocks fell broadly despite earnings from Intel and J.P.Morgan Chase coming in above analysts' estimates, as weaker than expected re from J.P.Morgan weighed on fin'ls, while troubles on the consumer side of its business raised concerns across other sectors. Fri's drop put stocks in negative territory for the week, marking the second week of declines in the past 3. Bank of America was the Dow's worst performer on Fri. or 3.3% after J.P. Morgan's 4Q earnings quadrupled, exceeding forecasts, but its rev came in below analysts' estimates and the bank posted losses in its card services, consumer lending and retail financial services segments. Side bar charts J.P. Morgan Chase, Alcoa saying it plunged 11% Tues after kicking off the week with results that proved disappointing and Chevron saying Chevron gained one day after a broker lifted its rating to buy and then fell the next when its outlook fell short of expectations.

WSJ pB1 "Hershey Drafting Cadbury Bid by Jjeffrey McCracken, Dana Cimilluca, Ilan Brat says Hershey plans to bid at least $17.9 bil next week for Cadbury after concluding it has the financial muscle to top Kraft's $17.2 bil bid. Hershey is putting the finishing touches on a package that could kick off the kind of int'l bidding war that has largely disappeared since the Wall st fin'l crisis of '08. The pakcage now includes a loan of at least $10 nmil from banks including JPMorgan Chase and BofA Merrill Lynch and would include $5 bil in new Hershey shares and $3 bil from private investors and the Hershey trust. The bid would be $12.99 a share.

WSJ pB5 item says the Reader's Digest plan to exit from bankruptcy protection was approved by the bankruptcy court with a debt for equity swap that slashes the firm's $2 bil debt load and hands the firm to senior lenders led by J.P.Morgan Chase.

WSJ pB7 "Credit Markets" by Kate Haywood says new York theme park operator Six Flags last week said J.P.Morgan Chase, Bank of America'sMerrill Lynch, Barclays and Deutsch eBank were putting together an $830 mil senior secured credit facility to finance its exist from bankruptcy.

Johnson & Johnson JNJ $64.56 -0.54 0.83% 20,919,869 NYSE: WSJ pB1 "J&J is Accused of Kickbacks To Omnicare On Drug Sales" by Jonathan D. Rockoff& NYT pB2 "Johnson & Johnson Is Accused of Paying Kickbacks" by Natasha Singer say in the latest case in the gov's campaign against abusive drug marketing practices, the Justice Dept. charged Johnson & Johnson with paying tens of millions of dollars in kickbacks to a nursing home pharmacy firm to boost sales of J&J drugs to nursing home patients. Prosecutors, in a complaint filed in fed. ct. in Boston Fri., accused J&J of illegally paying Omnicare Inc. to buy J&J medicines and recommend their use to nursing homes resulting in purchases by Omnicare of J&J drugs tripling to more than $280 mil annually. The drugs included antipsychotic Risperdal, prescribed to control anxiety even though the drug wasn't approved for that use.

WSJ pB6 "FDA Chastises J&J Over Tylenol Recall" by Jared A. Favole, Jennifer Corbett Dooren, Fin Times p1 & 9 "J&J issues recall of best selling drugs" by Stephanie Kirchgaessner, & NYT pB2 "Johnson & Johnson Widens Recall Of Smelly Over the Counter Drugs" by AP say a J&J unit said it is expanding a recall of Tylenol products to include a broad array of medicines, drawing fire from uS regulators who said the firm should have acted more quickly after reports of a moldy smell. Brands involved include Tylenol, Motrin, Benadryl, Rolaids, Simply Sleep and St. Joseph. A full list is at www.mcneilproductrecall.com.

Kraft KFT $29.58 +0.46 1.58% 25,823,517 NYSE: WSJ pB1 "Hershey Drafting Cadbury Bid
by Jeffrey McCracken, Dana Cimilluca, Ilan Brat, WSJ pB12 "Hershey's Chocolate Dreams" by John Jannarone & NYT pB1 "Hershey Said to Be Closer To an Offer for Cadbury" by Andrew Ross Sorkin, michael J. de la Merced say Hershey plans to bid at least $17.9 bil next week for Cadbury after concluding it has the financial muscle to top Kraft's $17.2 bil bid. Hershey is putting the finishing touches on a package that could kick off the kind of int'l bidding war that has largely disappeared since the Wall st fin'l crisis of '08. The pakcage now includes a loan of at least $10 nmil from banks including JPMorgan Chase and BofA Merrill Lynch and would include $5 bil in new Hershey shares and $3 bil from private investors and the Hershey trust. The bid would be $12.99 a share.

McDonald's MCD $62.28 -0.37 0.59% 9,375,772 NYSE: No mentions found.

Merck MRK $39.47 -0.52 1.3% 20,784,370 NYSE: No mentions found.

Microsoft MSFT $30.86 -0.10 0.32% 78,967,798 NASDAQ-GS: NYT pB1 "Scaling the Digital Wall in China" by Brad Stone, David Barboza says Chinese citizens ahve found ways to circumvent the sophisticated Internet censorship systems designed to restrict them. In '05 Microsoft rolled out a blogging service in China that did not allow words like freedom and democracy in the titles of posts. At the end of the year, it shut down the site of Zhao Jing, a well known blogger, who also was a research assistant for The New York Times, after he wrote about the firing of an independent minded editor at The Beijing News.

Pfizer PFE $19.49 +0.11 0.57% 76,467,219 NYSE: WSJ pB7 "Options Report: GTraders Extend Bets on Pfizer, El paso" by Tennille Tracy says with Jan. options expiring, traders took steps to roll out positions they held in those contracts and move them into laterdated months. Traders rolled out bullish positions in Pfizer Inc., unwinding out of Jan $19 calls and then buying Feb $20 calls. Pfizer's stock gained 0.6%. The shares have staged pretty consistent gains since hitting a multiyear low of $11.62 in March.

Procter & Gamble PG $60.82 -0.76 1.23% 15,692,693 NYSE: No mentions found.

3M MMM $83.37 -0.13 0.16% 3,922,173 NYSE: No mentions found.

Travelers TRV $48.79 -0.49 0.99% 4,208,762 NYSE: No mentions found.

United Technologies UTX $71.99 -0.82 1.13% 5,314,724 NYSE: No mentions found.

Verizon VZ $30.58 -0.64 2.05% 43,659,664 NYSE: WSJ pB5 "Verizon, A&T Escalate Pricing War" by Niraj Sheth says under pressure to hold onto subsribers, the nation's 2 largest wireless carriers cut prices on their calling plans Fri. to bring them closer in line to competitors. Verizon Wireless announced it would drop the cost of its unlimited calling plan from $100 a month to $70 and AT&T the next days followed suit. The new rates take effect Mond. Unlimited calling and data transfers for smart phones, inclulding headlining devices like the iPhone at At&T and the Droid at Verizon, now costs $100 a month on both carriers, down from $130 before the latest discounting. Unlimited text messaging costs an additional $20.

WalMart WMT $53.68 -0.53 0.98% 18,989,468 NYSE: No mentions found.
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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson
Alcoa AA Klaus Kleinfeld
American Express AXP Kenneth I. Chenault
Bank of America BAC Brian T. Moynihan.
Boeing BA W. James McNerney, Jr.
Caterpillar CAT Douglas Oberhelman
Chevron CVX John Watson
Cisco CSCO John Chambers
Coca Cola KO Muhtar Kent
Disney DIS Robert Iger
DuPont DD Ellen Kullman
ExxonMobil XOM Rex W. Tillerson
GE Jeffrey R. Immelt
Hewlett-Packard HPQ Mark Hurd
Home Depot HD Frank Blake
Intel INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPMorgan Chase JPM Jamie Dimon
Johnson & Johnson JNJ William C. Weldon
Kraft KFT Irene Rosenfeld
McDonald's MCD Jim Skinner
Merck MRK Robert Clark
Microsoft MSFT Steve Ballmer
Pfizer PFE Jeffrey Kindler
Procter & Gamble PG Bob McDonald
3M MMM George W. Buckley
Travelers TRV Jay S. Fishman
United Technologies UTX Louis Chenevert
Verizon VZ Ivan Seidenberg
Wal-Mart WMT Mike Duke

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of 1/13/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $335 [5]
2. Microsoft MSFT 267 [9]
3. WalMart WMT 208 [4]
4. Chevron CVX 195 [2.5]
5. Johnson & Johnson JNJ 179 [3]
6. Procter & Gamble PG 179 [3]
7. GE 177 [10.5]
8. IBM 171 [1.5]
9 JPMorgan Chase 169 [4]
10. AT&T 158 [6]
11. Pfizer PFE 153 [8]
12. Cisco CSCO 140 [6]
13. BAC 140 [8.5]
14. Coke KO 133 [2]
15. Hewlett-Packard HPQ 123 [2]
16. Intel INTC 113 [5.5]
17. McDonald's MCD 104 [1.5]
18. Verizon VZ 90 [3]
19. Merck MRK 82 [2]
20. United Technologies UTX 68 [1]
21. 3M MMM 59 [.5]
22. Disney DIS 58 [1]
23. American Express AXP 50 [1]
24. Home Depot 48 [2]
25. Boeing BA 45 [1]
26. Kraft KFT 44 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 31 [1]
29. Travelers 27 [.5]
30. Alcoa AA 16 [1.5]

Here are the latest SEC filings as of 1/13/10 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: 1/12/10 8K re: Alcoa finished its 4Q '08 free cash flow positive, the first such quarterly achievement since 2Q '08. In 4Q '09, Alcoa generated free cash flow of $761 million, a $947 million improvement from 3Q '09 driven by strong cash from operations performance of $1.1 billion, a $940 million increase from the third quarter of 2009.

12/24/09 8K re: a joint venture with Saudi Arabian Mining Company (Ma’aden) for the development of an integrated bauxite mine, alumina refinery, aluminum smelter, and rolling mill in the Kingdom of Saudi Arabia.

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 8K 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: 1/11/10 8K re: earnings for 4Q '09 are expected to be lower than 3Q '09. Upstream earnings are projected to be in line with third quarter results as the benefit of higher commodity prices is offset by the absence of gains recognized in 3Q from approval of the Gorgon project in Australia. Downstream results are expected to be sharply lower, mainly due to significantly weaker refining margins.

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: 11/2/09 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: 1/12/10 8K re: new form of agreement for the award of stock units and stock options awarded to executive officers.

1/4/10 8K re: new employment agreement with James A. Rasulo and amendment of employment agreement with Thomas O. Staggs. Rasulo will serve as Sr. EVP & CFO with an annual salary of $1,400,000.

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: 1/12/10 Prelim. Proxy Statement re: annual stockholders meeting on 3/1710 at 2 pm at Computer History Museum, 1401 N. Shoreline Boulevard, Mountain View, California.

12/17/09 10K

Home Depot HD: 12/3/09 10Q

Intel INTC: 8K 1/12/10 8K re: release of 4Q earnings report on Thursday, 1/14 A public webcast of Intel’s earnings conference call will follow at 2:30 p.m. PST at www.intc.com.

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: 12/22/09 8K re: the closing of a public offering of $1,500,000,000 aggregate liquidation amount of an affiliated trust.

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.

Kraft KFT: 1/12/10 8K re: increase of guidance for '09 diluted earnings per share to at least $2.00 versus the previous expectation of at least $1.97.1 reflecting strong operating gains & a significant increase in marketing investments versus the prior year.

12/22/09 8K re: amendment of By-Laws to expand the Board to twelve members and appointment of Mackey J. McDonald & Jean-Francois M. L. van Boxmeer as directors, effective January 1, 2010. Mr. McDonald will serve on the Audit Committee, and Mr. van Boxmeer will serve on the Public Affairs Committee.

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.

McDonalds MCD: 12/23/09 8K re: am agreement re: the retirement of Ralph Alvarez, President and Chief Operating Officer.

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: 11/184/09 8KA amending financial stmts re: the earlier announcement of 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: 12/6/09 8K re: amendment of bylaws & change in fiscal year.

Procter & Gamble PG: 1/12/10 8K re: quarterly dividend of $0.44 per share on the Common Stock & on the Series A & Series B ESOP Conv. Class A Pref. Stock, payable 2/16/10 with record date of 1/22/10, which is its consistent dividend since incorporation in 1890. 4 bil times a day, P&G brands are sold globally, products include Pampers, Tide, Ariel, Always, Whisper, Pantene, Mach3, Bounty, Dawn, Gain, Pringles, Charmin, Downy, Lenor, Iams, Crest, Oral-B, Duracell, Olay, Head & Shoulders, Wella, Gillette, Braun Fusion. P&G has 135,000 employees in 80 countries.

1/8/10 8K re:changes to its segment reporting structure & agreement to sell its global pharmaceuticals business to Warner Chilcott plc.

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: 12/18/10 8K re: incorp by reference of prior filings.

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: 1/8/10 8K re: estimates that '09 adjusted EPS will be approximately 13 to 15 cents lower than '08 adjusted EPS of $2.54 and that revenues in '09 will be higher than '08. Verizon Wireless will begin providing 4G Long-Term Evolution service in 25 to 30 markets covering 100 million points of presence)by the end of '10 &within 24 months following its start of LTE service, Verizon Wireless expects to provide LTE service to 80 to 90% of the US.

12/23/09 8K re: grant of stock options to executives.

12/7/09 8K re:amendments to bylaws.

WalMartWMT: 12/8/09 10Q