1/28/10 Thurs. am Boeing, Cat & UTX Report Earnings; BA Soars while CAT and United Tech Falls

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Post #265 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 Thursday'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 Wednesday's closing price and related data.

Dow: The Dow Jones Industrial Average closed Wednesday at 10,236.16 up 41.87 or 0.41% from Tuesday's close of 10,194.29. year to date the Dow is down 1.84%. Of the 30 Dow Companies: 19 gained and 11 declined. The biggest gainer dollar-wise was and percentage-wise was Boeing BA $61.93 +4.22 7.31% 14,705,031 NYSE. The biggest decliner dollar-wise and percentage-wise was Caterpillar CAT $53.43 -2.42 4.33% 33,551,788 NYSE.

WSJ pC1 Dow Up 41.87 In Late Rise After the Fed" by Peter A. McKay says financial stocks led a late day market rebound, aided by a favorable Fed. Res. policy statement and an uptick in AIG following a House hearing examining the insurer's bailout. The Dow Jones Industrial Average was in the red for most of the session but ended with a 41.87 pt. gain, up 0.4%. Its strongest component was Boeing, up 2.8% after it reported better than expected earnings. Caterpillar missed expectations and saw its shares slide 4.3%. Among the big individual winners in the financial sector, which tends to benefit from low borrowing costs as the Fed gave no sign it would raise rates, were Bank of America, up 2.8%, and JPMorgan Chase up 2.3%.

WSJ pC5 "Boeing, Apple and BofA Move Higher" by Donna Kardos Yesalavich says stocks rose Wed. as the Fed. Res. kept interest rates near zero, Boeing reported a bigger than expected 4Q profit, and Apple introduced its highly anticipated tablet. However, a forecast from Caterpillar kept the gains in check. Cat fell as its 4Q earnings topped analysts' forecasts and the firm said it is seeing demand pick up but the stock fell as the firm's earnings forecast for the current year was less than expected. The Dow's financial components were strong as BofA rose 2.8% and JPMorgan rose 2.3%.

Fin Times p24 "Fin'l stocks surge on prospect of cheap money" by Samantha Pearson says a late rally in fin'l stocks lifted Wall St out of the red yesterday after the uS Fed. Res. reiterated its promise to keep rates exceptionally low for an xetended period. Caterpillar, the world's largest maker of construction equipment, posted a higher quarterly profit than analysts had been expecting and noted encouraging signs of a economic recovery. However, it gave a disappointing profit forecast for this year year. Boeing, the second largest maker of commercial aircraft, also beat estimates but disappointed Wall St. with its outlook as it said its defense biz had suffered from gov budget cuts while demand for air travel remained low. United Technologies, the diversified manufacturer, also weighed on the market in spite of posting results and a forecast that were just above the average analysts' forecast. Profit fell 6% in the past quarter due to restructuring costs and lower rev from commercial airline contracts.

NYT pB11 "Fed's Optimism on the Economy Helps Improve Wall St's Mood" by AP says stocks reversed an early slide and ended higher on Wed. after the Fed Reserve issued a more upbeat assessment of the economy. Same story is at USA p4B under a different headline: "Stocks rise on Fed's upbeat outlook."

Investor's Bus. Daily pA1 "Fed Keeps Reocrd Low Rate as Expected But Sees Improvements In Economy, Jobs" by Scott Stoddard says the economy and the job market continue to improve, but not enough for the Fed Reserve to consider raising interst rates soon as the Fed voted 9-1 to keep interest rates at a record low 0% to .25%, as expected, and reiterated its long standing vow to keep them low for an extended period to nurse a gradual economic period.

Investor's Bus. Daily pA1 "Stocks Erase Losses and Finish Strong In Fast Trade" by Paul Whitfield says the indexes staged a positive reversal Wed, turning in their best day in 6 session. Wednesday's action was up in greater volume while current outlook is that the market is in correction.

As of the open of the market Thursday, 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 16.56 down from Wednesday morning's 16.73 (year ago it was 20.14) the P/E estimate is 13.30 unchanged from Wednesday's 13.30 (year ago it was 9.87) and the current dividend yield is 2.67 down from Wednesday's 2.69 (it was 3.76 a year ago).

Wednesday's Dow Jones Industrial Average closing numerator was 1,354.44 up 5.54 from Tuesday's closing Dow numerator of 1,348.90. 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 5.54 for Tuesday by the divisor you get the increase in Tuesday's Dow close of 41.87.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 45.15 up 0.19 from Tuesday's Dow Jones Industrial Average closing price of $44.96. The median closing price of Wednesday's Dow Jones Industrial Average was 39.00 up 0.50 from Tuesday's $38.50. The lowest volume was Travelers TRV $50.9 +0.67 1.33% 4,498,336 NYSE and the highest volume again was Bank of Am BAC $15.19 +0.42 2.84% 255,128,399 NYSE.

If Wednesday 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 $570 ($135,450 - $134,880).

AT&T T $25.63 +0.30 1.18% 57,570,051 NYSE: WSJ pB6 "For Wireless Carries, iPad Signals Further Loss of Clout" by Niaj Sheth says AT&T won the right to carry Apple's high profile iPad in the US but it may erode the wireless industry's carrier centered model. Just a half decade ago, the big US wireless firms controlled the way subscribers used their service, setting specs for the phones and locking users into contracts. Apple wrested away control over handsets with the iPhone and now the iPad diminishes carriers' control even further as At&T will offer 2 cellular service plans, but neither will require the contracts that usually accompany its data plans for cell phones and laptops. AT&T has been under fire from iPhone users for poor service, especially in dense areas around NYC and San Fran. Some thought Verizon Wireless, a jv of Verizon Communications and Vodafone would carry the iPad. AT&T has seen wireless data usage jump by 5,000% since late '06. The iPads with the wireless chp version will go on sale 30 days after the other version ships in March. The ipad won't be exclusive to AT&T.

NYT pB1 "As Devices Pull More Data, Patience May Be Required" by Jenna Wortham says the new iPad will put more demands on AT&T's already overburdened 3G data network.

WSJ pC16 "Apple's iPad Revolution: Radical Price" by Martin Peers says Apple's iPad is cheap and costs only $499 but it has all the functions of a laptop, such as word processing and email and can run iPhone mobile apps. But it may cannibalize laptop sales, as the current lowest price on a MacBook is $999. Also Apple is uisng its US iPhone carrier, AT&T, for 3G wireless and given congestion on AT&T's network largely caused by heavy use of the iPhone, some consumers may choose the model built for Wi-Fi use only.

Alcoa AA $13.29 -0.25 1.85% 54,694,556 NYSE: No mentions found.

American Express AXP $38.66 +0.56 1.47% 12,249,340 NYSE: No mentions found.

Bank of America BAC $15.19 +0.42 2.84% 255,128,399 NYSE: WSJ pC3 "BofA's Moynihan Gets a 19% Raise" by Dan Fitzpatrick says the ew CEO will get a salary of $950,000 which is a 19% raise for the 50 year old Moynihan's '08 base. His predecessor, Kenneth D. Lewis, had a base salary of $1.5 mil.

Daily Report p6 "Bonuses expose Street's succession weakness" by Lisa Kassenaar, Bloomerberg says that Bank of america was totally unprepared for the resignation of Kenneth D. Lewis as CEO and should have ahd at least two people ready to take over. It compares BofA's lack of preparation with the succession plan at JPMorgan which resulted in Jamie Dimon becoming CEO of JPMorgan.

WSJ pC1 Dow Up 41.87 In Late Rise After the Fed" by Peter A. McKay says financial stocks led a late day market rebound, aided by a favorable Fed. Res. policy statement and an uptick in AIG following a House hearing examining the insurer's bailout. The Dow Jones Industrial Average was in the red for most of the session but ended with a 41.87 pt. gain, up 0.4%. Its strongest component was Boeing, up 2.8% after it reported better than expected earnings. Caterpillar missed expectations and saw its shares slide 4.3%. Among the big individual winners in the financial sector, which tends to benefit from low borrowing costs as the Fed gave no sign it would raise rates, were Bank of America, up 2.8%, and JPMorgan Chase up 2.3%.

WSJ pC5 "Boeing, Apple and BofA Move Higher" by Donna Kardos Yesalavich says stocks rose Wed. as the Fed. Res. kept interest rates near zero, Boeing reported a bigger than expected 4Q profit, and Apple introduced its highly anticipated tablet. However, a forecast from Caterpillar kept the gains in check. Cat fell as its 4Q earnings topped analysts' forecasts and the firm said it is seeing demand pick up but the stock fell as the firm's earnings forecast for the current year was less than expected. The Dow's financial components were strong as BofA rose 2.8% and JPMorgan rose 2.3%.

Boeing BA $61.93 +4.22 7.31% 14,705,031 NYSE: WSJ pB1 "Boeing Reports Signs of Recovery As It Shakes Off a Troubling year" by Peter Sanders, Ann Keeton & Inv. Bus. Daily pA2"Boeing tops, sees '10 EPS below" say despite being saddled by one of the worst years on record in aviation, Boeing is rebounding as the Chicago based firm posted solid 4Q results, swinging to a profit. The earnings come just one quarter after it took a $3.5 bil write off and repotted its largest quarterly loss over due to problems with the 787 Dreamliner and a revamped 747. Boeing posted profit of $1.27 bil or 1.7 a share for 4Q compared with a loss of $86 mil or 12 cents a share a year earlier when Boeing was hit by a 2 month machinists' strike. Rev. increased 42% to $17.94 bil. Boeing forecast earning between $3.70 and $4 a share this year as it works to deliver its newest jetliners in 4Q as the global passenger and air freight markets begin to recover. It earned $1.84 a share last year.

NYT pB4 "Plane Tests On Track, Boeing Says" by AP says Boeing said it would notscale back aircraft production, which some had feared as Boeing reported profits.

Fin Times p12 "Boeing and defense" says Boeing is the second largest US defense contractor behind Lockheed Martin, and trades 15 times prospective earnings versus about 10 tiems for the defense sector. Boeing is well placed in programs such as naval aircraft but the longer term outlook is less certain as Pres. Obama may shrink the defense budget.

WSJ pC1 Dow Up 41.87 In Late Rise After the Fed" by Peter A. McKay says financial stocks led a late day market rebound, aided by a favorable Fed. Res. policy statement and an uptick in AIG following a House hearing examining the insurer's bailout. The Dow Jones Industrial Average was in the red for most of the session but ended with a 41.87 pt. gain, up 0.4%. Its strongest component was Boeing, up 2.8% after it reported better than expected earnings. Caterpillar missed expectations and saw its shares slide 4.3%. Among the big individual winners in the financial sector, which tends to benefit from low borrowing costs as the Fed gave no sign it would raise rates, were Bank of America, up 2.8%, and JPMorgan Chase up 2.3%.

WSJ pC5 "Boeing, Apple and BofA Move Higher" by Donna Kardos Yesalavich says stocks rose Wed. as the Fed. Res. kept interest rates near zero, Boeing reported a bigger than expected 4Q profit, and Apple introduced its highly anticipated tablet. However, a forecast from Caterpillar kept the gains in check. Cat fell as its 4Q earnings topped analysts' forecasts and the firm said it is seeing demand pick up but the stock fell as the firm's earnings forecast for the current year was less than expected. The Dow's financial components were strong as BofA rose 2.8% and JPMorgan rose 2.3%.

Fin Times p24 "Fin'l stocks surge on prospect of cheap money" by Samantha Pearson says a late rally in fin'l stocks lifted Wall St out of the red yesterday after the US Fed. Res. reiterated its promise to keep rates exceptionally low for an extended period. Caterpillar, the world's largest maker of construction equipment, posted a higher quarterly profit than analysts had been expecting and noted encouraging signs of a economic recovery. However, it gave a disappointing profit forecast for this year year. Boeing, the second largest maker of commercial aircraft, also beat estimates but disappointed Wall St. with its outlook as it said its defense biz had suffered from gov budget cuts while demand for air travel remained low. United Technologies, the diversified manufacturer, also weighed on the market in spite of posting results and a forecast that were just above the avreage analysts' forecast. Profit fell 6% in the past quarter due to restructuring costs and lower rev from commercial airline contracts.

Caterpillar CAT $53.43 -2.42 4.33% 33,551,788 NYSE: WSJ pB4 "Caterpillar's Profit Tumbles 65%" by Bob Titak NYT pB4 "Caterpillar Profit Falls 65%" by AP & Inv. Bus. Daily pA1 "Caterpillar Falls On Soft Outlook" say Caterpillar's 4Q earnings plunged by65% but it said it is seeing demand pick up. The world's largest construction machinery firm said demand is improving in China, N. America, Europe and Japan and expects to benefit from dealers replenishing inventories. Still CAT forecast '10 earnings below Wall St estimates and it sees earnings of about 2.50 a share on a rev increase of 10 to 25%. The Peoria, Ill. firm missed analysts' 4Q estimate of $8.11 bil when sales came in at $7.89 bil a 39% reduction from last year. CAT reported a 4Q profit of $232 mil or 36 cents a share down from $661 mil or 1.08 a share a year earlier. Machinery and engine sales dropped 41% in 4Q while its financial arm saw a 12% decrease in rev. For '09, CAT's earnings dropped 75% to $895 mil, rev plunged 37% last year, causing it to fire more than 20,000 employees.

WSJ pC5 "Bad News" charts Caterpillar says the big construction equipment firm offered a cautious outlook.

WSJ pC1 Dow Up 41.87 In Late Rise After the Fed" by Peter A. McKay says financial stocks led a late day market rebound, aided by a favorable Fed. Res. policy statement and an uptick in AIG following a House hearing examining the insurer's bailout. The Dow Jones Industrial Average was in the red for most of the session but ended with a 41.87 pt. gain, up 0.4%. Its strongest component was Boeing, up 2.8% after it reported better than expected earnings. Caterpillar missed expectations and saw its shares slide 4.3%. Among the big individual winners in the financial sector, which tends to benefit from low borrowing costs as the Fed gave no sign it would raise rates, were Bank of America, up 2.8%, and JPMorgan Chase up 2.3%.

WSJ pC5 "Boeing, Apple and BofA Move Higher" by Donna Kardos Yesalavich says stocks rose Wed. as the Fed. Res. kept interest rates near zero, Boeing reported a bigger than expected 4Q profit, and Apple introduced its highly anticipated tablet. However, a forecast from Caterpillar kept the gains in check. Cat fell as its 4Q earnings topped analysts' forecasts and the firm said it is seeing demand pick up but the stock fell as the firm's earnings forecast for the current year was less than expected. The Dow's financial components were strong as BofA rose 2.8% and JPMorgan rose 2.3%.

Fin Times p24 "Fin'l stocks surge on prospect of cheap money" by Samantha Pearson says a late rally in fin'l stocks lifted Wall St out of the red yesterday after the uS Fed. Res. reiterated its promise to keep rates exceptionally low for an extended period. Caterpillar, the world's largest maker of construction equipment, posted a higher quarterly profit than analysts had been expecting and noted encouraging signs of a economic recovery. However, it gave a disappointing profit forecast for this year year. Boeing, the second largest maker of commercial aircraft, also beat estimates but disappointed Wall St. with its outlook as it said its defense biz had suffered from gov budget cuts while demand for air travel remained low. United Technologies, the diversified manufacturer, also weighed on the market in spite of posting results and a forecast that were just above the aveage analysts' forecast. Profit fell 6% in the past quarter due to restructuring costs and lower rev from commercial airline contracts.

Chevron CVX $73.76 -0.39 0.53% 11,770,692 NYSE: No mentions found.

Cisco CSCO $23.15 +0.25 1.09% 51,410,358 NASDAQ-GS: Inv. Bus daily pA4 "Oracle's Goal: most Complete systems Vendor" by J. Bonasia says Oracle ushered in its hardware era Wed, completing its $7.4 bil purchase of Sun Microsystems and detailing its plan to propel the software giant into Sun's markets for computers, processors, storage systems and networking gear. In offering a range of hardware, software and services, Oracle will compete with longtime partners Hewlett-Packard, IBM, Dell and Cisco Systems, as well as longtime software rivals Microsoft and SAP

Coca-Cola KO $54.51 +0.37 0.68% 10,105,987 NYSE:AJC pA1 "Coke bubbly about Super Bowl surge" by Jeremiah McWilliams says Coca-Cola products will ahve a bigger presence at the Feb. 7 Super Bowl than its rival Pepsi which is a switch from how it has traditionally been.

Diseny DIS $29.31 -0.35 1.18% 15,657,030 NYSE: No mentions found.

DuPont DD $32.88 +0.08 0.24% 6,577,760 NYSE: No mentions found.

ExxonMobil XOM $65.479 -0.441 0.67% 34,549,387 NYSE: No mentions found.

GE $16.3 -0.05 0.31% 76,604,918 NYSE: WSJ pB2 "Comcast CEO Presses for Swift merger Review" by Amy Schatz says Comcast's CEO Brian Roberts said the recent fracas at NBC over Conan O'Brien shows what happens when regulatory review of a merger leaves people in limbo. Comcast will file paperwork Thurs. to the FCC for approval of its deal to acquire majority control of NBC Universal from GE.

Home Depot HD $27.84 +0.11 0.4% 12,777,003 NYSE: No mentions found.

Hewlett-Packard HPQ $49.45 -0.29 0.58% 17,532,117 NYSE: WSJ pB6 "New iPad Revives Classic Gadget Debate" by Geoffrey A. Fowler, Yukari Iwatani Kane says consumer electronics makers are split over selling all in one gizmos vs. products with specialized purpose. Apple's new iPad will compete with several specialized devices suck as ebooks like amazon Kindle, games devices like Nintendo, Netbook for just email and web, iPod Nano for Music and Videos. Ipad specs are listed in a side bar. Even before the iPad wa unveiled, Hewlett-Packard had showed off a slate computer designed to display printed content and video.

Inv. Bus daily pA4 "Oracle's Goal: most Complete systems Vendor" by J. Bonasia says Oracle ushered in its hardware era Wed, completing its $7.4 bil purchase of Sun Microsystems and detailing its plan to propel the software giant into Sun's markets for computers, processors, storage systems and networking gear. In offering a range of hardware, software and services, Oracle will compete with longtime partners Hewlett-Packard, IBM, Dell and Cisco Systems, as well as longtime software rivals Microsoft and SAP

Intel INTC $20.24 +0.24 1.2% 74,224,536 NASDAQ-GS: No mentions found.

IBM $126.36 +0.61 0.49% 8,226,349 NYSE: Inv. Bus daily pA4 "Oracle's Goal: most Complete systems Vendor" by J. Bonasia says Oracle ushered in its hardware era Wed, completing its $7.4 bil purchase of Sun Microsystems and detailing its plan to propel the software giant into Sun's markets for computers, processors, storage systems and networking gear. In offering a range of hardware, software and services, Oracle will compete with longtime partners Hewlett-Packard, IBM, Dell and Cisco Systems, as well as longtime software rivals Microsoft and SAP.

J.P.Morgan Chase JPM $39.33 +0.89 2.32% 65,288,519 NYSE: WSJ pC1 Dow Up 41.87 In Late Rise After the Fed" by Peter A. McKay says financial stocks led a late day market rebound, aided by a favorable Fed. Res. policy statement and an uptick in AAIG following a House hearing examining the insurer's bailout. The Dow Jones Industrial Average was in the red for most of the session but ended with a 41.87 pt. gain, up 0.4%. Its strongest component was Boeing, up 2.8% after it reported better than expected earnings. Caterpillar missed expectations and saw its shares slide 4.3%. Among the big individual winners in the financial sector, which tends to benefit from low borrowing costs as the Fed gave no sign it would raise rates, were Bank of America, up 2.8%, and JPMorgan Chase up 2.3%.

WSJ pC5 "Boeing, Apple and BofA Move Higher" by Donna Kardos Yesalavich says stocks rose Wed. as the Fed. Res. kept interest rates near zero, Boeing reported a bigger than expected 4Q profit, and Apple introduced its highly anticipated tablet. However, a forecast from Caterpillar kept the gains in check. Cat fell as its 4Q earnings topped analysts' forecasts and the firm said it is seeing demand pick up but the stock fell as the firm's earnings forecast for the current year was less than expected. The Dow's financial components were strong as BofA rose 2.8% and JPMorgan rose 2.3%.

Daily Report p6 "Bonuses expose Street's succession weakness" by Lisa Kassenaar, Bloomerberg says that Bank of america was totally unprepared for the resignation of Kenneth D. Lewis as CEO and should have ahd at least two people ready to take over. It compares BofA's lack of preparation with the succession plan at JPMorgan which resulted in Jamie Dimon becoming CEO of JPMorgan.

Johnson & Johnson JNJ $63.5 +0.71 1.13% 14,455,933 NYSE: No mentions found.

Kraft KFT $28.34 +0.58 2.09% 23,587,246 NYSE: No mentions found.

McDonald's MCD $63.73 -0.08 0.13% 8,065,560 NYSE: WSJ pB1 "McDonald's, Franchisees in Germany Wage Dispute" by David Crawford, Julie jargon says McDonald's Geman unit is engaged in a dispute with franchise holders who accuse it of using aggressive tactics to try to force them out of their contracts. MCD hired private detectives to get evidence of conflicts of interest against one franchisee and MCD offered corporate jobs to franchise employees in exchange for info needed to terminate franchise contracts.

WSJ pB3 "Movie GalleryPlans Restructuring" by Mike Spector, Peter Lattmansays Hollywood Video chain owner, Movie Gallery is gong to file for bankrutptcy as consumers are now turning to alternatives such as Redbox, a unit of Coinsta, that operates movie vending machines in grocery stores and McDonald's stores, and Netflix, a mail order and online rental service.

Merck MRK $38.64 +0.06 0.16% 16,911,471 NYSE: No mentions found.

Microsoft MSFT $29.67 +0.17 0.58% 63,349,516 NASDAQ-GS: WSJ pB "china Won't Limit Google's Android" by Aaron Back, Sky Canaves says the Chinese gov won't limi tthe use of Android's operating system for mobile devices by Chinese telecom operators. The state run media featured comments by Microsoft's Chairman Bill Gates that played down China's Internet restrictions.

Inv. Bus daily pA4 "Oracle's Goal: most Complete systems Vendor" by J. Bonasia says Oracle ushered in its hardware era Wed, completing its $7.4 bil purchase of Sun Microsystems and detailing its plan to propel the software giant into Sun's markets for computers, processors, storage systems and networking gear. In offering a range of hardware, software and services, Oracle will compete with longtime partners Hewlett-Packard, IBM, Dell and Cisco Systems, as well as longtime software rivals Microsoft and SAP

Pfizer PFE $19.02 +0.24 1.28% 51,839,479 NYSE: Inv. Bus. Daily pA2 "Pfizer cuts researches, workers" & AJC pA14 "Pfizer refocuses research after Wyeth purchase" say it will scrap testing of 100 experimental drugs to focus on priority areas and will ax 6 research sites and some workers. It will continue 500 research projects including those for Alzheimer's, pain, cancer, inflammatory disorders, mental illness, and diabetes and other metabolic disorders.

Procter & Gamble PG $60.81 +0.12 0.2% 15,201,853 NYSE: WSJ pC1 "P&G's Product and Stock Prices Take Stage" by Ellen Byron says P&G needs to sell a cascade of Cascade, a bounty of Bounty and high tide of Tide as investors will be scouring Procter & Gamble's latest earnings report Thurs morning for signs that sales volumes of its products have rebounded without eating into profit margins. The Cincinnati based world's biggest consumer product firm built its empire by selling high performance household goods, and then using heavy advertising to convince shoppers its brands are worth the extra costs. Analysts think Procter & Gamble will report rev of $21.07 bil for the quarter ended 12/31 up 3% from a year earlier and are expecting earnings of 1.42 per share, vs. 1.58 a share the prior year.

3M MMM $82.3 +0.67 0.82% 5,059,560 NYSE: No mentions found.

Travelers TRV $50.9 +0.67 1.33% 4,498,336 NYSE: No mentions found.

United Technologies UTX $67.61 -0.86 1.26% 7,682,098 NYSE: WSJ pB4 item by Ann Keeton, USA p1B & Inv. Bus. Daily pA2 "China demand lifts United Tech" say United Technologies 4Q earnings fell 6.3%, and it reiterated a Dec. forecast for steady earnings growth in '10. The maker of Otis elevators, Sikorsky helicopters and Carrier air conditioners cut 18,000 jobs in '09 and slashed capital spending by 30%. UtX had a 4Q profit of $1.07 bil or 1.15 a share, down from $1.15 bil or 1.23 a share, a year earlier. Rev fell 4.5% to $14.1 bil. Analysts expected earnings of $1.14 a share on $13.85 bil in rev. The Sikorsky helicopter unit was a bright spot in the 4Q, delivering a record number of large aircraft.

Fin Times p24 "Fin'l stocks surge on prospect of cheap money" by Samantha Pearson says a late rally in fin'l stocks lifted Wall St out of the red yesterday after the uS Fed. Res. reiterated its promise to keep rates exceptionally low for an xetended period. Caterpillar, the world's largest maker of construction equipment, posted a higher quarterly profit than analysts had been expecting and noted encouraging signs of a economic recovery. However, it gave a disappointing profit forecast for this year year. Boeing, the second largest maker of commercial aircraft, also beat estimates but disappointed Wall St. with its outlook as it said its defense biz had suffered from gov budget cuts while demand for air travel remained low. United Technologies, the diversified manufacturer, also weighed on the market in spite of posting results and a forecast that were just above the aveage analysts' forecast. Profit fell 6% in the past quarter due to restructuring costs and lower rev from commercial airline contracts.

Verizon VZ $29.87 -0.30 0.99% 32,723,493 NYSE: Fin Times p15 "Vodafone chief udner pressure over European businesses" by Andress Parker says shareholders seek an end to the impasse at Verizon Wireless that is owned 45 % by Vodafone but the 55% owner, Verizon Communications refuses to allow dividend payments since '05. The dividends are due to resume in '12 per Verzion Comm. CEO Ivan Seidenberg but he made no commitment.

WSJ pB6 "For Wireless Carries, iPad Signals Further Loss of Clout" by Niaj Sheth says AT&T won the right to carry Apple's high profile iPad in the US but it may erode the wireless industry's carrier centered model. Just a half decade ago, the big US wireless firms controlled the way subscribers used their service, setting specs for the phones and locking users into contracts. Apple wrested away control over handsets with the iPhone and now the iPad diminishes carriers' control even further as At&T will offer 2 cellular service plans, but neither will require the contracts that usually accompany its data plans for cell phones and laptops. AT&T has been under fire from iPhone users for poor service, especially in dense areas around NYC and San Fran. Some thought Verizon Wireless, a jv of Verizon Communications and Vodafone would carry the iPad. AT&T has seen wireless data usage jump by 5,000% since late '06. The iPads with the wireless chp version will go on sale 30 days after the other version ships in March. The ipad won't be exclusive to AT&T.

WalMart WMT $53.4 -0.21 0.39% 13,154,259 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