1/27/10 Wed. am Verizon, JNJ Report Losses,Travelers & DuPont Profits, VZ & Home Depot Cut Jobs

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Post #263 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 Wednesday'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: 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. Year to date the Dow is down 2.57%. 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.

WSJ pC1 "Late Selloff Shaves 2.57 From DJIA" by Peter A. McKay says a stock rally fell apart late Tues as investors' jitters over DC's likely next moves trumped strong earnings and consumer sentiment data. The Dow Jones Industrial Average was up 88 points at one point but fell alter. JPMorgan Chase fell 2%.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed on the Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the telceom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimates as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

Fin Times p26 "last minute sell off in financials helps send S&P 500 lower" by Samantha Pearson says Wall St. relinquished its gains yesterday after jitters over Chinese monetary policy overshadowed encouraging consumer confidence data.

NYT pB9 "Shares Lower After Day of Wandering" by Bloomberg says stocks erased gains in the session's final hour as concerns that the Fed. Reserve may signal more plans to unwind stimulus measures overshadowed higher than estimated earnings and consumer confidence. Same story at USA Today p4 under headline "Falling stocks wipe out earlier gains."

As of the open of the market Wednesday, 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 16.73 down from Tuesday morning's 16.96 (year ago it was 19.111) the P/E estimate is 13.30 unchanged from Tuesday's 13.30 (year ago it was 9.87) and the current dividend yield is 2.69 unchanged from Tuesday's 2.69 (it was 3.86 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).

AT&T T $25.35 -0.23 0.9% 31,861,847 NYSE: WSJ pB3 Verizon Reports Loss, Plans to Cut More Jobs" by Roger Cheng says Verizon Communications posted a 4Q loss and said it would cut another 13,000 jobs this year. It took a charge of $3 bill to cover the cost of layoffs in its fixed line telephone biz, which is under pressure as customers give up residential lines and biz use is down. Verizon swung to a 4Q loss of $653 mil or 23 cents a share compared with a year earlier profit of $1.23 bil or 43 cents a share. Rev jumped 9.9% to $27.09 bil due to the acquisition of wireless provider Alltel. Recently, VZ has exploited the perception that its wireless network is better than At&T through advertising trying to blunt the appeal of Apple's iPhone carried exclusively by AT&T.

WSJ pB3 "FCC questions Carriers About Termination Fees" by Amy Schatz says AT&T, Verizon and other major wireless carriers got letters from the FCC about fees charged consumers for breaking cellphone contracts early.

WSJ pA12 "Apple Seeks to Avoid Past Tablet flops" by Yukari Iwatani Kane, don Clark says that Silicon Valley has flopped each time it has tried to market a keyboardless computer, a tablet, that is too big to fit in your pocket and gives a chart of failures such as AT&T's EO that was released in '93 at a price of $2,000 that had a stylus and touch screen but was discontinued in '94. Microsoft in the early 2000's pushed a category of Windows based tablets but it failed to catch on.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed on the Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the telceom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimaes as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

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: No mentions found.

Bank of America BAC $14.745 -0.235 1.57% 202,717,877 NYSE: WSJ pC1 "Wall St. Toughens Its Rules on Clawbacks" by Robin Sidel says banks and securities firms are toughening rules that give them power to seize pay from employees whose bets or other actions blow up later. Known as clawback provisions such internal rules used to cover just op execs or fraud but last week JPMorgan Chase's board expanded the provisions to includ any employee who gets firm stock. Bank of America and Morgan Stanley have made similar moves lately.

Fin Times p8 "The hindered haircut" by Henry Sender, Francesco Guerrera,Gillian Tet tanalyzes Tim Geithner's testimony today before Congress on the AIG rescue and discusses Bank of Merrill's role as an AIG counter party.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed on the Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the telceom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimaes as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

Boeing BA $57.73 -0.05 0.09% 4,193,328 NYSE: No mentions found.

Caterpillar CAT $55.86 +0.72 1.31% 14,684,796 NYSE: No mentions found.

Chevron CVX $74.19 -0.36 0.48% 9,806,300 NYSE: WSJ pB1 "Valero Backs Off as Oil Refining Turns Sour" by Ann Davis says struggling to survive the worst fuel market since the 80s, Valero energy Corp. is reversing an acquisition binge that had made it No. America's largest oil refiner. Diversified oil firms from Chevron Crop. of the US to France's Total SA, have been hurt by refining.

WSJ pB3 "Chevron Unveils new Gorgon Gas Strike" by David Winning says it made a natural gas discovery off W. Australia's coast as part of the proposed $39 bil Gorgon liquefied natural gas project. Its Yellowglen-1 well struck a 450 ft. column marking its third discovery in the greater Gorgon area in as many months. Gorgon is the biggest of Chevron's projects in Australia, its owns 47% of the Project and ExxonMobil and Royal Dutch Shell each own 25%.

WSJ pB4 "The Upshot" by Paul Vigna, John Shipman notes that Chevron will report earnings later this week as well ConocoPhillips.

Cisco CSCO $22.9 -0.09 0.39% 54,987,098 NASDAQ-GS: NYT pB4 "With Sun, Oracle SaysIt Has All the Pieces" by Ashlee Vance says Oracle's $7.4 bil deal to buy Sun Microsystems gives Oracle a vast hardware biz for the first time and pits it against HewlettPpackard, IBM, Dell and Cisco Systems, all of whom have made a flurry of acquisitions and alliances. Many of these moves broadened the firms' products and services from their traditional specialties, like databases, computers or networking equipment. Each firm wants to be able to claim to customers that it has more of the parts to be an end to end service provider.

Coca-Cola KO $54.22 -0.13 0.24% 7,010,753 NYSE: AJC pA13 "Coke says documentary is defamatory, warns filmmakers" by Jeremiah McWilliams say Coca-Cola says a Canadiam film club promoting a documentary called The Coca-Cola Case discloses confidential details about settlement discussions and is false. The film is about allegations of Coke's human rights abuses in Columbia.

Disney DIS $29.66 -0.26 0.87% 10,592,747 NYSE: No mentions found.

DuPont DD $32.86 +0.04 0.12% 9,881,267 NYSE: WSJ pB2 item by Susan Daker, Nathan Becker says DuPont swung to a 4Q profit helped by the rebounding economy and cost cuts. It reported a profit of $441 mil or 48 cents a share compared with a year earlier loss of $629 mil or 70 cents. Rev jumped 12% to $6.81 bil beating forecast earnings. DuPont exceeded its full year goal of $1 bil in cost cuts in '09.

ExxonMobil XOM $65.94 +0.09 0.14% 31,087,323 NYSE: WSJ pA4 "Execs Seek Stronger Rx" by Elizabeth Williamson says chief execs advising Pres. Obama expressed frustration with his economic policies and called on him in his State of athe Union speech to offer stronger measures to spur growth, biz expansion and trade. The pres. met over lunch with biz leaders that included CEOs Jamie Dimon of JPMorgan Chase and Rex Tillerson of ExxonMobil.

WSJ pB3 "Chevron Unveils new Gorgon Gas Strike" by David Winning says it made a natural gas discovery off W. Australia's coast as part of the proposed $39 bil Gorgon liquefied natural gas project. Its Yellowglen-1 well struck a 450 ft. column marking its third discovery in the greater Gorgon area in as many months. Gorgon is the biggest of Chevron's projects in Australia, its owns 47% of the Project and ExxonMobil and Royal Dutch Shell each own 25%.

WSJ pC16 "Lessons About Oil Majors at the School of Hard NOCs" by Liam Denning says he latest ranking of global energy firms by market cap, is dominated by state backed national oil companies, or NOCs. PetroChina tops the PFC Energy 50, toppling usual leader ExxonMobil as its is valued at $34.9 bil

GE $16.3675 -0.0025 0.02% 73,624,718 NYSE: WSJ pC11 "Foreign Takeovers Take a Toll in UK" by Alistair MacDonald says Kraft's acquisition of Cadbury is feeding discontent that the UK is losing locally controlled industries. Some takeovers have boosted UK firms such as GE's move of its global headquarters of its healthcare business to Amersham, in Buckinghamshire after it bought the British medical diagnostic and biosceince company of the same name for $9.5 bil in '03. GE employs 20,000 peopole in the UK across all 4 of its major biz lines.

NYT pB4 "Martha Stewart Will Shift Show to Hallmark Channel" by Edwart Wyatt & WSJ pB3 item by Shira Ovide say Martha Stewart is moving from a distribution deal with GE's NBC Universal to the Hallmark Channel on cable.

Hewlett-Packard HPQ $49.78 -0.28 0.56% 14,886,565 NYSE: WSJ pB8 "BSkyB Wins Ruling Against EDS" says Pay TV operator British Sky Broadcasting scored a victory Tues when a British High Court ruled that Electronic Data Systems, now a unit of Hewlett-Packard since '08, made false representations about a customer service tech contract with BSkyB prior to being bought by HPQ.

NYT pB4 "With Sun, Oracle Say sIt Has All the Pieces" by Ashlee Vance says Oracle's $7.4 bil deal to buy Sun Microsystems gives Oracle a vast hardware biz for the first time and pits it against Hewlett-Packard, IBM, Dell and Cisco Systems, all of whom have made a flurry of acquisitions and alliances. Many of these moves broadened the firms' products and services from their traditional specialties, like databases, computers or networking equipment. Each firm wants to be able to claim to customers that it has more of the parts to be an end to end service provider.

WSJ pA12 "Apple Seeks to Avoid Past Tablet flops" by Yukari Iwatani Kane, Don Clark says that Silicon Valley has flopped each time it has tried to market a keyboardless computer, a tablet, that is too big to fit in your pocket and gives a chart of failures such as AT&T's EO that was released in '93 at a price of $2,000 that had a stylus and touch screen but was discontinued in '94. Microsoft in the early 2000's pushed a category of Windows based tablets but it failed to catch on. Similar story at USA Today p1B "Buzz about Apple tablet mounts" by Edward C. Baig that says Microsoft showed off the HP Salte at the Cons. Elec. Show recently in La Vegas but product details are sketchy and its release date is uncertain.

Home Depot HD $27.75 +0.13 0.47% 11,976,353 NYSE: AJC pA13 "Home Depot to lay off 1,000" by Rachel Tobin Ramos says for the third consecutive Jan, Home Depot ahs handed out pink slips on Wed announcing 1,000 job layoffs companywide which is a fallout from the recession led by a housing crisis slow to abate. The 11,000 cuts represents 3.4% of its 322,000 work force.

Intel INTC $20 -0.32 1.57% 64,145,903 NASDAQ-GS: No mentions found.

IBM $125.82 -0.30 0.24% 6,809,845 NYSE: WSJ pC1 "Prosecutors Bolstering Galleon Case" by Susan Pulliam& NYT pB8 "Witnesses Are Gathered Agaisnt Chief of Galleon" by Zachery Kouwe say Fed. prosecutors are lining up add'l guilty pleas to bolster an insider trading case. Robert Moffatt is named in the atory as participating in the alleged insider trading scheme. He is a former senior vp at IBM.

NYT pB4 "With Sun, Oracle SaysIt Has All the Pieces" by Ashlee Vance says Oracle's $7.4 bil deal to buy Sun Microsystems gives Oracle a vast hardware biz for the first time and pits it against HewlettPpackard, IBM, Dell and Cisco Systems, all of whom have made a flurry of acquisitions and alliances. Many of these moves broadened the firms' products and services from their traditional specialties, like databases, computers or networking equipment. Each firm wants to be able to claim to customers that it has more of the parts to be an end to end service provider.

J.P.Morgan Chase JPM $38.42 -0.79 2.01% 49,938,308 NYSE: WSJ pA4 "Execs Seek Stronger Rx" by Elizabeth Williamson says chief execs advising Pres. Obama expressed frustration with his economic policies and called on him in his State of athe Union speech to offer stronger measures to spur growth, biz expansion and trade. The pres. met over lunch with biz leaders that included CEOs Jamie Dimon of JPMorgan Chase and Rex Tillerson of ExxonMobil.

WSJ pC1 "Wall St. Toughens Its Rules on Clawbacks" by Robin Sidel says banks and securities firms are toughening rules that give them power to seize pay from employees whose bets or other actions blow up later. Known as clawback provisions such internal rules used to cover just op execs or fraud but last week JPMorgan Chase's board expanded the provisions to include any employee who gets firm stock. Bank of America and Morgan Stanley have made similar moves lately.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed on the Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the telceom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimaes as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

WSJ pC1 "Late Selloff Shaves 2.57 From DJIA" by Peter A. McKay says a stock rally fell apart late Tues as investors' jitters over DC's likely next moves trumped strong earnings and consumer sentiment data. The Dow Jones Industrial Average was up 88 points at one point but fell alter. JPMorgan Chase fell 2%

Johnson & Johnson JNJ $62.8575 -0.3625 0.57% 14,861,202 NYSE: WSJ pB2 item by Peter Loftus & USA Today p5B say Johnson & Johnson reported a 19% drop in 4Q earnings but posted a 9% sales gain. The New Brunswick, NJ health care firm which makes Band Aids, Tylenol and Remicade predicted 7% earnings growth this year.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed on the Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the telceom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimaes as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

Kraft KFT $27.78 +0.09 0.33% 27,556,170 NYSE: WSJ pC11 "Foreign Takeovers Take a Toll in UK" by Alistair MacDonald says Kraft's acquisition of Cadbury is feeding discontent that the UK is losing locally controlled industries. Some takeovers have boosted UK firms such as GE's move of its global headquarters of its healthcare business to Amersham, in Buckinghamshire after it bought the British medical diagnostic and biosceince company of the same name for $9.5 bil in '03. GE employs 20,000 peopole in the UK across all 4 of its major biz lines.

McDonald's MCD $63.82 +0.73 1.16% 8,856,433 NYSE: No mentions found.

Merck MRK $38.58 -0.18 0.46% 18,807,120 NYSE: WSJ pB3 "Court's Temodar Ruling Opens Path for Generics" by Peter Loftus says a US judge ruled that a patent for Merck's Temodar cancer drug was unenforceable, clearing the way for generic competition for Teva Pharmaceutical to sell a copycat version before the US patent expires in '14 but Merck will appeal.

Microsoft MSFT $29.5 +0.18 0.61% 62,037,080 NASDAQ-GS: WSJ pA12 "Apple Seeks to Avoid Past Tablet flops" by Yukari Iwatani Kane, Don Clark says that Silicon Valley has flopped each time it has tried to market a keyboardless computer, a tablet, that is too big to fit in your pocket and gives a chart of failures such as AT&T's EO that was released in '93 at a price of $2,000 that had a stylus and touch screen but was discontinued in '94. Microsoft in the early 2000's pushed a category of Windows based tablets but it failed to catch on. Similar story at USA Today p1B "Buzz about Apple tablet mounts" by Edward C. Baig that says Microsoft showed off the HP Salte at the Cons. Elec. Show recently in La Vegas but product details are sketchy and its release date is uncertain.

WSJ pD8 ""The Mosssberg Solutin" by Katherine Boehret says she tested Microsoft's Zune HD which was releaed in Sept. and had some critical things to say about its built in HD radio.

Pfizer PFE $18.79 -0.06 0.32% 41,176,559 NYSE: No mentions found.

Procter & Gamble PG $60.64 +0.01 0.02% 12,504,751 NYSE: WSJ pB6B "Battery makers' Price Battles Are Recharged" by Anjali Cordeiro says price competition is picking up even more in the battery aisle as Procter & Gamble is boosting pack sizes for its Duracell brand while leaving the price unchanged which is a price cut and could create competition for rival Energizer Holdings Inc.

3M MMM $81.6 -0.23 0.28% 2,936,478 NYSE: No mentions found.

Travelers TRV $50.23 +1.34 2.74% 8,272,382 NYSE: WSJ pC4 "Travelers SetsProfit Record says its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02 dirven by improved investment returns and a mild storm season and beat expectations. Travelers, one of the largest property casualty insurers, had a profit of $1.29 bil or 2.36 a share, from $801 mil or 1.35 a year earlier. Rev was up 11% at $6.46 bil.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed onthe Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the teleom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimaes as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

WSJ pC5 "Good News" Travelers is charted noting that as profit rose so did thebig insurer's stock.

United Technologies UTX $68.47 -0.12 0.17% 4,915,556 NYSE: No mentions found.

VZ $30.15 -0.53 1.73% 33,885,460 NYSE: WSJ pB3 Verizon Reports Loss, Plans to Cut More Jobs" by Roger Cheng says Verizon Communications posted a 4Q loss and said it would cut another 13,000 jobs this year. It took a charge of $3 bill to cover the cost of layoffs in its fixed line telephone biz, which is under pressure as customers give up residential lines and biz use is down. Verizon swung to a 4Q loss of $653 mil or 23 cents a share compared with a year earlier profit of $1.23 bil or 43 cents a share. Rev jumped 9.9% to $27.09 bil due to the acquisition of wireless provider Alltel. Recently, VZ has exploited the perception that its wireless network is better than At&T through advertising trying to blunt the appeal of Apple's iPhone carried exclusively by AT&T.

Similar stories at Fin Times p16 "Verizon se tto axe a further 13,000 jobs" by Alan Rappeport, Paul Taylor & NYT pB4 "At Verizon, Rev Climbs 10% but It Posts a Loss Related to a Charge for Layoffs" by Jenna Worthham & USA Today p1B.

WSJ pB3 "FCC questions Carriers About Termination Fees" by Amy Schatz says AT&T, Verizon and other major wireless carriers got letters from the FCC about fees charged consumers for breaking cellphone contracts early.

WSJ pB6 "Verizon Touts Network, Still Mum on iPhone" by AndrewLlaVallee says Verizon didn't say whether it expects to carry the IPhone but CEO Ivan Seidenberg said its wireless network could handle the heavy user traffic associated with all smart phones.

WSJ pC5 "Bad News" Verizon is charged saying execs cast a downbeat note on the economic reovery.

WSJ pC5 "Verizon, BofA Slip; US Steel Loses 12%" by Donna Kardos Yesalavich says stocks closed slightly lower Tues. as financial shares including JPMorgan Chase and Bank of America were hit with continued concerns over bank reg plans while investors were disappointed with the 4Q report from Verizon communications. JPMorgan Chase was the worst performer off 2% as investors remained concerned over how the fin'l sector will be affected by bank restriction plans outlined by Pres. Obama. Bank of America slipped 1.4%. Verizon Communications also weighed onthe Dow, dropping 1.7% as it swung to a 4Q loss as a result of heavy charges and announced another round of layoffs as execs cast a downbeat note on the economic recovery. AT&T fell 1% as Verizon's report weighed on the rest of the teleom sector. Keeping the Dow's declines in check, Travelers jumped 2.7% as its 4Q earnings jumped 60% to its highest quarterly profit since going public in '02, driven by improved investment returns and a mild storm season. Johnson & Johnson's 4Q earnings fell 19% on restructuring charges, but its earning excluding items topped analysts' estimaes as sales rose and margins fell. Still it shares fell 0.7% as the firm predicted earnings growth of as much as 7% for '10, a forecast some analysts thought disappointing.

WalMart WMT $53.61 +0.73 1.38% 15,490,770 NYSE: No mentions found.
*************************************

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