1/26/10 Tues. pm Dow Closes 10,194.29 down 2.57 or 0.03%

The following is not intended as advertising by a broker-dealer and is not a research report.

Post #262 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.

The Dow Jones Industrial Average closed Tuesday at 10,194.29 down 2.57 or 0.03% from Monday's close of 10,196.86. Of the 30 Dow Companies: 12 gained and 18 declined. The biggest gainer dollar-wise was and percentage-wise was Travelers TRV $50.23 +1.34 2.74% 8,272,382 NYSE. The biggest decliner dollar-wise and percentage-wise was J.P.Morgan Chase JPM $38.42 -0.79 2.01% 49,938,308 NYSE.

As of the open of the market Tuesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 16.96 unchanged from Monday morning's 16.92 (year ago it was 18.556) the P/E estimate is 13.30 unchanged from Monday's 13.30 (year ago it was 9.87) and the current dividend yield is 2.69 unchanged from Monday's 2.69 (it was 3.88 a year ago).

Tuesday's Dow Jones Industrial Average closing numerator was 1,348.90 down 0.34 from Monday's closing Dow numerator of 1,349.24. 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 0.34 for Tuesday by the divisor you get the decrease in Tuesday's Dow close of 2.57.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 44.96 down .01 from Monday's Dow Jones Industrial Average closing price of $44.97. The median closing price of Tuesday's Dow Jones Industrial Average was 38.50 down 0.49 down from Monday's $38.99. The lowest volume was 3M MMM $ NYSE and the highest volume again was Bank of Am BAC $ NYSE.

If Tuesday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $30 ($134,910 - $134,880).

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

AT&T T $25.35 -0.23 0.9% 31,861,847 NYSE
Alcoa AA $13.5279 +0.1379 1.03% 42,334,020 NYSE
American Express AXP $38.1 +0.31 0.82% 14,623,179 NYSE
Bank of America BAC $14.745 -0.235 1.57% 202,717,877 NYSE
Boeing BA $57.73 -0.05 0.09% 4,193,328 NYSE
Caterpillar CAT $55.86 +0.72 1.31% 14,684,796 NYSE
Chevron CVX $74.19 -0.36 0.48% 9,806,300 NYSE
Cisco CSCO $22.9 -0.09 0.39% 54,987,098 NASDAQ-GS
Coca-Cola KO $54.22 -0.13 0.24% 7,010,753 NYSE
Disney DIS $29.66 -0.26 0.87% 10,592,747 NYSE
DuPont DD $32.86 +0.04 0.12% 9,881,267 NYSE
ExxonMobil XOM $65.94 +0.09 0.14% 31,087,323 NYSE
GE $16.3675 -0.0025 0.02% 73,624,718 NYSE
Hewlett-Packard HPQ $49.78 -0.28 0.56% 14,886,565 NYSE
Home Depot HD $27.75 +0.13 0.47% 11,976,353 NYSE
Intel INTC $20 -0.32 1.57% 64,145,903 NASDAQ-GS
IBM $125.82 -0.30 0.24% 6,809,845 NYSE
J.P.Morgan Chase JPM $38.42 -0.79 2.01% 49,938,308 NYSE
Johnson & Johnson JNJ $62.8575 -0.3625 0.57% 14,861,202 NYSE
Kraft KFT $27.78 +0.09 0.33% 27,556,170 NYSE
McDonald's MCD $63.82 +0.73 1.16% 8,856,433 NYSE
Merck MRK $38.58 -0.18 0.46% 18,807,120 NYSE
Microsoft MSFT $29.5 +0.18 0.61% 62,037,080 NASDAQ-GS
Pfizer PFE $18.79 -0.06 0.32% 41,176,559 NYSE
Procter & Gamble PG $60.64 +0.01 0.02% 12,504,751 NYSE
3M MMM $81.6 -0.23 0.28% 2,936,478 NYSE
Travelers TRV $50.23 +1.34 2.74% 8,272,382 NYSE
United Technologies UTX $68.47 -0.12 0.17% 4,915,556 NYSE
VZ $30.15 -0.53 1.73% 33,885,460 NYSE
WalMart WMT $53.61 +0.73 1.38% 15,490,770 NYSE
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The following are excerpts from Tues. morning's Blog:

A read of Tuesday's print editions of: The Wall Street Journal, The Financial Times, The New York Times, Investor's Business Daily, Atlanta Journal Constitution & (Ga.) Daily Report 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 Monday's closing price and related data.

Dow Jones: The Dow Jones Industrial Average closed Monday at 10,196.86 up 23.88 or 0.23% from Friday's close of 10,172.98. Year to date the Dow is down 2.2%. Of the 30 Dow Companies: 18 gained and 12 declined. The biggest gainer dollar-wise was Caterpillar CAT $55.14 +0.89 1.64% 9,777,205 NYSE and percentage-wise was Intel INTC $20.32 +0.41 2.06% 71,231,559 NASDAQ-GS. The biggest decliner dollar-wise and percentage-wise was American Express AXP $37.79 -0.80 2.07% 17,587,506 NYSE.

WSJ pC1 "Dow Advance of 23.88 Points Ends a Deep 3 Day Skid" by Peter A. McKay says stocks posted a narrow gain to snap a 3 day losing streak, though investors generally remained cautious ahead of a series of key economic policy developments expected over the next few days. The Doy Jones Industrial Average was up 0.2% after losing 552 points over its recent 3 day slide.

WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report after Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Depot Disney, and Walmart also ended lower.

Fin Times p24 "Steelmakers' rally helps keep the mood positive" by Samantha Pearson says banking stocks rebounded in early trading yesterday while a rally among steelmakers helped to keep Wall St. in positive territory. Bank of America gained 0.5%. Shares in Walmart edged 0.1% lower as it announced it would cut 11,200 jobs at Sam's Club.

NYT pB9 "Wall St. Ends Higher After 3 Day Fall, but Concerns Persist" by javier C. Hernandez says Wall St shares closed higher on Mon as investors tried to look beyond the blistering losses of the prior week. Talk of the potential for more steep declines lingered, however, as traders nervously studied data on the fragile housing market and reports of more layoffs.

USA Today p4B "Stocks rise with Bernanke's chances" by AP says brightening prospects for the reappointment of Fed Reserve Board chair Ben Bernanke lifted stocks Mon after last week's sell off.

WSJ pC1 "Exchanges Want to Take Stock Quotes Below a Cent" by Jacob Bunge says major US stock exchanges are pushing regulators to allow price quotes in increments as small as a tenth of a cent as part of a push to become more attractive to electronic traders who have left their platforms for private pools. US listed stocks have been quoted in once cent increments since '01, prior to that it was in eighths of a dollar. Traders can only quote sub penny prices on exchanges when a stock's value goes below $1, although that could cause delistment.

Monday's Dow Jones Industrial Average closing numerator was 1,349.24 up 3.16 from Friday's closing Dow numerator of 1,346.08. 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 3.16 for Monday by the divisor you get the increase in Monday's Dow close of 23.88.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was 44.97 up 0.10 from Friday's Dow Jones Industrial Average closing price of $44.87. The median closing price of Monday's Dow Jones Industrial Average was 38.99 up 0.16 from Friday's $38.83. The lowest volume was 3M MMM $81.83 +0.35 0.43% 3,386,524 NYSE and the highest volume again was Bank of Am BAC $14.98 +0.08 0.54% 262,008,690 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 $300 (134,910 - $134,610).

AT&T T $25.58 +0.19 0.75% 29,899,609 NYSE: WSJ pC14 "Investors: Beware Verizon's Generation Gap" by martin Peers says Verizon Communications, whose 55% owned wireless arm is pouring billions of dollar into a rollout of 4th generation cellular tech as it will be the first in the US to launch Long Term Evolution, or LTE, to extend its leadership in wireless. LTE uses radio spectrum more efficiently, improving network capacity. VZ already spent $9.4 bil in '08 to upgrade its cell infrastructure. But the payoff for LTE is uncertain because it could take customers a long time to actually use it. Initially Verizon may offer 4G only for laptop cards because when VZ introduces LTe, compatible devices will be scarce. Vodafone, the other owner of Verizon Wireless is taking its time on 4G as it is instead focusing on upgrades to its 3G technology using High Speed Packet Access. AT&T is using HPSA to improve its speeds.

Alcoa AA $13.39 -0.01 0.07% 44,157,436 NYSE: No mentions found.

American Express AXP $37.79 -0.80 2.07% 17,587,506 NYSE: WSJ pC7 "Bad News" charts American Epress saying it was a drag on the Dow Industrials yesterday as it was Amex's third down day in a row.

WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as srong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report afer Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Depot Disney, and Walmart also ended lower.

Bank of America BAC $14.98 +0.08 0.54% 262,008,690 NYSE: WSJ pC3 "Goldman Places Limit on UK Pay" by Aaron Lucchetti, Sara Schaefer Muoz says Goldman Sachs imposed a salary and bonus cap of 1.61 mil on its partners in London, per a new UK tax law on bonuses. Bank of America is considering similar measures and JPMorgan Chase is trimming bonuses for investment bankers by an unspecified amount to help offset the bonus tax cost in UK.

Fin Times p24 "Steelmakers' rally helps keep the mood positive" by Samantha Pearson says banking stocks rebounded in early trading yesterday while a rally among steelmakers helped to keep Wall St. in positive territory. Bank of America gained 0.5%. Shares in Walmart edged 0.1% lower as it announced it would cut 11,200 jobs at Sam's Club.

Boeing BA $57.78 +0.01 0.02% 3,489,814 NYSE: No mentions found.

Caterpillar CAT $55.14 +0.89 1.64% 9,777,205 NYSE: No mentions found.

Chevron CVX $74.55 -0.04 0.05% 9,129,622 NYSE: No mentions found.

Cisco CSCO $22.99 +0.02 0.09% 51,210,708 NASDAQ-GS: No mentions found.

Coca-Cola KO $54.35 +0.11 0.2% 8,426,583 NYSE: WSJ pC1 "Default Bet Anomaly: Firms Over Countries" by Gregory Zuckerman says that in some places businesses in some nations are more creditor worthy than the nations themselves. Credit default swaps, which pay off when a bond defaults, have now become more expensive to buy on the debt of a range of countries than it is for some firms in those nations. Spain is an example, as is the US where it costs around $4,000 to buy credit default swaps to insure $1 mil bonds of both Merck and Coca-Cola but about $4,500 to buy CDS contracts to protect comparable US Treasurys.

Disney DIS $29.92 -0.06 0.2% 11,155,795 NYSE: WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as srong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report afer Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

DuPont DD $32.82 +0.32 0.98% 7,036,608 NYSE: WSJ pC1 "As DuPont Rebounds, Will Shares Fololw?" by Kelly Evans says it is expected to report earnings of 41 cents a share compared with a loss of 28 cents a year ago and revs of about 6.2 bil, up 1.5% as it reports earnings this morning. Its world wide sales fell as much as 20% over the year but are expected to grow in the 4Q for the first time since mid '08.

ExxonMobil XOM $65.85 -0.25 0.38% 29,288,021 NYSE: No mentions found.

GE $16.37 +0.26 1.61% 75,065,361 NYSE: WSJ pB3 "High Speed Rail Approaches Station" by Mariko Sanchanta, Josh Mitchell says GE's rail operation primarily makes locomotives for freight trains, not high speed rail. But GE and China's Railways Ministry are considering a partnership on US high speed rail projects. This story is about how the White House will announce how $8 bil in fed stimulus money for high speed passenger train service in an effort to bring the shinkansen, Japan's bullet train, to the US.

"WSJ pB4 "The Upshot" by Paul Vigna, John Shipman says medical equipment is a sizable US export and GE said last week orders for diagnostic imaging equipment were up 24% including increases of 32% in china and 53% in India.

WSJ pB1 "Concert Deal Wins Antitrust Approval" by Ethan Smith, Thomas Catan says the Justice Dept. said OK to the merger between concert promoter Live nation and ticket selling and artist manager Ticketmaster Entertainment but imposed some conditions as the merger creates one firm that will have a hand in just about every corner of the music biz. Such vertical integration is a major topic for the Justice Dept. The proposed acquisition of GE's NBC Universal by Comcast poses similar issues, because NBC creates tv content that is distributed by Comcast's cable systems.

Home Depot HD $27.62 -0.10 0.36% 11,098,346 NYSE: WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as srong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report afer Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

Hewlett-Packard HPQ $50.06 +0.77 1.56% 13,477,316 NYSE: WSJ pB3 "The Giant Launches Music Service in Europe" & AJC pA6 say Hewlett-Packard launched a subscripion music service across 10 nations in Europe with UK mobile music start up Omnifone moving into a market dominated by Apple Inc's iTunes.

WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report afer Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

Intel INTC $20.32 +0.41 2.06% 71,231,559 NASDAQ-GS: WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report afer Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

IBM $126.12 +0.62 0.49% 5,738,455 NYSE: No mentions found.

J.P.Morgan Chase JPM $39.21 +0.05 0.13% 56,560,423 NYSE: WSJ pB3 "2 Big Printers To Merge" by Jeffrey McCracken says Quad/Graphics will acquire Canadian rival World Color Press for $1.3 bil. JPMorgan Chaseadvised Quad/Graphics and will commit $1.2 bil in financing.

WSJ pC3 "Goldman Places Limit on UK Pay" by Aaron Lucchetti, Sara Schaefer Muoz says Goldman Sachs imposed a salary and bonus cap of 1.61 mil on its partners in London, per a new UK tax law on bonuses. Bank of America is considering similar measures and JPMorgan Chase is trimming bonuses for investment bankers by an unspecified amount to help offset the bonus tax cost in UK.

Johnson & Johnson JNJ $63.22 +0.02 0.03% 10,001,646 NYSE: No mentions found.

Kraft KFT $27.69 -0.18 0.65% 23,989,121 NYSE: Fin Times p17 "Ferrero will not offer Cadbury a sweeter deal" by Vincent Boland, Jenny Wiggins says Italy's Ferrero family said it won't make an offer, leaving he way clear for Kraft to buy Cadbury for $18.8 bil.

WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report afer Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell 0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

McDonald's MCD $63.09 -0.30 0.47% 6,382,145 NYSE: WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report after Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell 0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

Merck MRK $38.76 -0.11 0.28% 15,369,761 NYSE: WSJ pC1 "Default Bet Anomaly: Firms Over Countries" by Gregory Zuckerman says that in some places businesses in some nations are more creditor worthy than the nations themselves. Credit default swaps, which pay off when a bond defaults, have now become more xepensive to buy on the debt of a range of countries than it is for some firms in those nations. Spain is an example, as is the US where it costs around $4,000 to buy credit default swaps to insure $1 mil bonds of both Merck and Coca-Cola but about $4,500 to buy CDS contracts to protect comparable US Treasurys.

Microsoft MSFT $29.32 +0.36 1.24% 63,372,807 NASDAQ-GS: WSJ pA14 "Bill Gates Urges Lift By Nations Giving Aid" by Robert A. Guth says the Microsoft cofounder called on govs around the world to boost foreign aid budgets.

WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report after Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

Pfizer PFE $18.85 -0.11 0.58% 49,272,049 NYSE: No mentions found.

Procter & Gamble PG $60.63 +0.32 0.53% 11,630,716 NYSE: No mentions found.

3M MMM $81.83 +0.35 0.43% 3,386,524 NYSE: No mentions found.

Travelers TRV $48.89 +0.58 1.2% 4,767,631 NYSE: No mentions found.

United Technologies UTX $68.59 -0.49 0.71% 4,999,387 NYSE: No mentions found.

Verizon VZ $30.68 +0.34 1.12% 19,789,311 NYSE: WSJ pC14 "Investors: Beware Verizon's Generation Gap" by martin Peers says Verizon Communications, whose 55% owned wireless arm is pouring billions of dollar into a rollout of 4th generation cellular tech as it will be the first in the US to launch Long Term Evolution, or LTE, to extend its leadership in wireless. LTE uses radio spectrum more efficiently, improving network capacity. VZ already spent $9.4 bil in '08 to upgrade its cell infrastructure. But the payoff for LTE is uncertain because it could take customers a long time to actually use it. Initially Verizon may offer 4G only for laptop cards because when VZ introduces LTe, compatible devices will be scarce. Vodafone, the other owner of Verizon Wireless is taking its time on 4G as it is instead focusing on upgrades to its 3G technology using High Speed Packet Access. AT&T is using HPSA to improve its speeds.

WalMart WMT $52.88 -0.06 0.11% 12,003,255 NYSE: Fin Times p18 says Walmart's Sam's Club will cut 11,200 jobs.

Fin Times p24 "Steelmakers' rally helps keep the mood positive" by Samantha Pearson says banking stocks rebounded in early trading yesterday while a rally among steelmakers helped to keep Wall St. in positive territory. Bank of America gained 0.5%. Shares in Walmart edged 0.1% lower as it announced it would cut 11,200 jobs at Sam's Club.

WSJ pC7 "HP, Microsoft Climb; Apple Tacks on 2.7%" by Donna Kardos Yesalavich says stocks closed modestly higher Mon. as strong hopes for Apple's 4Q earnings report helped lift other tech stocks, including Intel, while consumer stocks such as Starbucks were laggards following a bigger than expected drop in home resales. Intel was the Dow's best performer Mon, up 2.1% as it rose with the rest of the tec stock as investors' expectations grew for Apple's 4Q earnings report after Mon's close. Among the Dow's other tech components, Hewlett-Packard rose 1.6%, and Microsoft climbed 1.2%. However, American Express helped keep the Dow's gains in check as it fell 2.1% extending declines from Fri as its 3Q report failed to meet investors' lofty expectations. The Dow's consumer components also kept a lid on its Mon. rise. Kraft fell0.6%, McDonald's slipped 0.5%, Home Dept., Disney, and Walmart also ended lower.

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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