1/3/10 Sun. Chevron is Touted by Barron's

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Post #293 The following is brought to you by Intellivest Securities Research, Inc. Towards the end of this Blog is a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of 1/4/10 and an update of the Dow 30's most recent SEC filings as of 1/4/10.

A read of Sunday's 1/3/10 print editions of: The New York Times, Atlanta Journal Constitution, 1/4/10 Barron's & 1/18/10 issue of Forbes 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 Thursday's closing price and related data.

Dow: The Dow Jones Industrial Average closed Thursday at 10428.05 down 120.46 or 1.14% from Wednesday's close of 10,548.1. For the week, the Dow is down 92.05 from last Thursday's close of 10,520.1. Of the 30 Dow Companies: only JPMorgan Chase gained and 29 declined. The biggest and only gainer dollar-wise and percentage-wise was JPM $41.67 +0.14 0.34% 19,927,935 NYSE. The biggest decliner dollar-wise was IBM $130.9 -1.67 1.26% 4,181,980 NYSE and percentage-wise was Hewlett-Packard HPQ $51.51 -1.42 2.68% 13,784,816 NYSE.

Barron's p12 says the Dow Jones Industrial Average closed out 2010 (typo) with its biggest annual percentage gain in 6 years. Despite a mild drop Thurs, the blue chips were up 19% for the year and more than 59% from their March low.

NYT Bbus p2 "What The Past Can't Tell Investors" by mark Hulbert says the Dow rose in 73 of the years since it was created in 1896. In the year after each of those clims, it rose 63% of the time. That is statistically indistinguishable from the 65% frequency with which the Dow rose after years when the index fell. These results suggest that the market's performance in '09 doesn't increase the probability of a net gain in '10. Growth stocks outperformed value stocks last year.

(From Sat.) WSJ pB3 "AmEx Took Lead In Dow's Charge" by Donna kardos yesalavich says stocks fell broadly in the final trading session of '09, a strong year for stocks. Hewlett-Packard and Caterpillar were among the decliners as better-than-expected jobs data stoked interest-rate fears, though JPMorgan Chase rose as the Treasury ended the bank-recapitalization portion of its Troubled Asset Program. JPMorgan was the Dow's lone gainer as 10 small banks that received a combined $29.26 mil in capital this week became the last to receive capital under the TARP recapitalization effort. For the year, American Express was the Dow's best performing component, with a 118% rise. Exxon Mobil was the worst performer, falling 15%. Thur, Pfizer fell 1.7% as the US FDA again delayed the conclusion of its review of a new version of the children's vaccine Prevnar. In Aug, the review deadline was extended to Dec. 30 after the FDA requested more data.

(From Sat.) Fin Times p14 "Sentiment hit by prospect of interest rate increases" by Samantha Pearson says Wall St. ended the decade in the red after encouraging jobs data on Thurs. renewed concerns over interest rate rises. The number of Americans filing fresh claims for unemployment benefits last week dropped tot he lowest level in about 17 months. US equities put in a strong performance last year. The benchmark rose 23.5 per cent, the biggest yearly gain since '03. However, the US market has trailed global equities. The FTSE world index climbed 30.5% over the yer, boosted by emerging markets such as Brazil, which rose 80%. US stocks are down 24% over the past 10 years, Wall St.'s worst decade since the 1930's. American Express, the largest US credit card issuer, was dragged down when the financial crisis hit in '07. However, the firm was the Dow's best performer in '09 and its shares have more than doubled in value. Energy firms fell ssharply in '09 and Exxon Mobil was the worst performing member of the Dow, losing 14.6%. The tech sector was the best performer, gaining 59.9%.

(From Fri's) NYT pB1 "A late Slide For the Year Of the Rally" by Javier C. Hernandez says after one of the most volatile decades in Wall St. history, Thurs. brought a glimmer of hope, as optimism over the strength of economic recovery helped keep markets near their highest levels in 14 months. When the final bell of '09 sounded, shares were down substantially for the day, falling sharply in the final minutes. But that did little to damp enthusiasm over what has been a stunning comeback year for the stock market. The Dow Jones industrial average climbed 18.8% in '09, the S&P's 500 stock index rose 23.5%, and the tech dominated Nasdaq was up 43.9%, the largest gains since '03. Still, stocks remain sharply below their pre-recession records; the Dow is about 26% lower than its Oct. '07 highs.

As of the close of the market Thursday, the current divisor for the Dow found at page B4 of Saturday's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.09 down from Thursday's 18.30 (year ago it was 18.33) the P/E estimate is 16400 up from Wednesday's 16.00 (year ago it was 10.62) and the current dividend yield is 2.64 up from Thurs.'s 2.61 (it was 3.58 a year ago).

Thursday's Dow Jones Industrial Average closing numerator was 1379.83 down 15.89 from Wednesday's closing Dow numerator of 1395.72. 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 15.89 for Thursday by the divisor you get the decrease in Thursday's Dow close of 120.46.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was 46.00 down 0.52 from Wednesday's Dow Jones Industrial Average closing price of $46.52. The median closing price of Thursday's Dow Jones Industrial Average was 40.60 down 0.57 from Wednesday's $41.17. The lowest volume was 3M MMM $82.67 -1.23 1.47% 2,030,297 NYSE and the highest volume again was Bank of Am BAC $15.06 -0.01 0.07% 93,252,274 NYSE.

If Thursday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,560 ($139,560 - 138,000).

AT&T T $28.03 -0.29 1.02% 16,027,281 NYSE: Barron's Cover story p19 "Sky's the Limit" by Mark Veverka is about cloud computing which is the interconnection of computer data centers via a network, usually the Internet. The cloud image is a tracing of Internet links that connect several different computer systems. You're in the clouds when you access a photo from a social networking Website and store your pictures on the site, rather than on your hard drive or when you're a small biz owner who decides to access his sales group's customer relationship programs via a Web browser instead of having his own software app. Barron's cover says cloud computing wil be the biggest tech development since the Internet and the beneficiaries could include HP, IBM, Microsoft, Apple, Amazon & AT&T.

Robes p36 "Vonage's Seconde Calling" by Elizabeth Woyke compares Vonage's $25 a month plan with Skype's $13 a month plan, Comcast's $55 a month plan & AT&T's $53 a month plan.

Barron's p13 says on Tues 1/5/10 Citi's 20th Annual Global Entertainment Media & Telecommunications confab takes place in San Fran and will include top officers from AT&T, T-Mobile USA, Sprint Nextel and Verizon.

Alcoa AA $16.12 -0.18 1.1% 16,376,473 NYSE: Barron's p M38 says Alcoa has paid dividends of .03 for the last 3 quarters of 09, down from .17 pe share for the prior 2 quarters.

American Express AXP $40.52 -0.28 0.69% 3,966,458 NYSE: NYT Bus pB1 "Citi's Creator, Alone With His Regrets" by Katrina Brooker profiles Sandy Weill, the creator of Citigroup. At the jump there is a sidebar that is a timeline that says in 1974 Weill's brokerage firm buys Shearson Hammill and sells it 7 years later to American Express, in '83 becomes pres. of American Express and resigns 2 years later.

Barron's pM3 "The Trader" by Kopin Tan says the Dow Jones ended '09 up 1652 points to 10,428 and the 18.8% annual gain was its best since '03. 3 of the top 4 gainers were tech outfits, including Microsoft, IBM and Cisco, although American Express' 118% rebound made it the top blue chip by far. He also says one of the year's big deals was Disney's acquisition of Marvel Entertainment.

Bank of America BAC $15.06 -0.01 0.07% 93,252,274 NYSE: Barron's p18 "How to Bet on health and Wealth" by Jim McTague says investors shold be looking at a bank's Tier 1 Core Equity Capital ratio, which measures tangible common equity and a percentage of risk weighted assets; and the Tier I Equity Capital ratio, which addds some preferred stocks into the mix. Big banks today must have 4% Tier 1 Core Equitya nd 6% Equity. Congress is expected to raise these requirements to 8% and 12% respectively. JPMorgan Cahse, Bank of America, Key Corp, PNC and Wells Fargo all have capital in excess of these levels.

Forbes p106 "Marekt Trends" by Martin T. Sosnoff says he likes a counter intuitive play in Bank of America because of the ease with which it raised equity and paid back $45 bil in Tarp funding. In a normal economy BofA would earn at least $2 a share and sell at $25.

Forbes p26 has an article about corporate sponsorships by Stephane Fitch, Mike Ozanian, Kurt Badenhausen that says firms are starting to recognize that having a star is too risky because scandals can happen. Example is Roger Clemens, who got $3 mil in endorsements from AutoNation, Coca-Cola and AT&T and then vanished as a pitchman because he got caught up in the steroid controversy. Bank of America in June dropped its 16 year old sponsorship of the US Olympic Team and rumors are that it is because of a trade publication about the bank's bailout status.

Boeing BA $54.13 -0.83 1.51% 2,168,245 NYSE: Forbes p76 has an article about investment manager, BlackRock and its CEO Larry Fink who manages $165 bil in troubled assets for the US Treasury and $3 trillion for firms such as FedEx, Boeing, ExxonMobil and Cal. State Teacher's Retirement System.

Caterpillar CAT $56.99 -1.06 1.83% 3,837,532 NYSE: Barron's p M38 says Caterpillar has paid dividends of .42 a share for the last 5 quarters.

Chevron CVX $76.99 -0.66 0.85% 4,209,024 NYSE: Barron's p14 "For Chevron, It could Be a Happy New Year" by Dimitra DeFotis says Chevron is marking the new year with a new CEO as David O'Reilly has retired after 41 years at Chevron, 10 of those as CEO, being replaced by John Watson. The San Ramon, Calif. based firm embarks on numerous exploration projects around the world, and seeks to replace reserves at a time what then has proved difficult and costly. In a side bar Chevron's stock price and key statistics are compared with 8 of its competitors including ExxonMobil. Oil exploration and production contributed 86% of Chevron's profit in '08, and crude accounted for two-thirds dof the firm's 11.2 bil barrels of oil reserves at the end of hat year, compared to ConocoPhillips where oil was 59% of total reserves and at industry leader ExxonMobil at 49%, now that Exxon has agreed to cquire XTO Energy a producer of natural gas. Chevron also has one of the industry's better exploration growth profiles. Analyst sand investors are upbeat about Chevron's prospects - at the wellhead and in the stock market, in 2010. The firm's fans think the shares, now 77.2, could rally more than 20% in the enxt 12 months. Investors also collect an annual dividend of $2.72 a share, for a current yield of 3.5%. That payout, totaling about $5.5 bil, makes Chevron one of the largest dividend payers among the S&P 500's members. Chevron historically has traded at a deep discount to Exxon which could narrow in coming years, even though Chevron's average costs for developing oil and gas are above those of other big oil firms.

Cisco CSCO $23.94 -0.24 0.99% 23,814,837 NASDAQ-GS: Barron's pM3 "The Trader" by Kopin Tan says the Dow Jones ended '09 up 1652 points to 10,428 and the 18.8% annual gain was its best since '03. 3 of the top 4 gainers were tech outfits, including Microsoft, IBM and Cisco, although American Express' 118% rebound made it the top blue chip by far. He also says one of the year's big deals was Disney's acquisition of Marvel Entertainment.

Coca-Cola KO $57 0.68 -1.18% 5,394,423 NYSE: Forbes p26 has an article about corporate sponsorships by Stephane Fitch, Mike Ozanian, Kurt Badenhausen that says firms are starting to recognize that having a star is too risky because scandals can happen. Example is Roger Clemens, who got $3 mil in endorsements from AutoNation, Coca-Cola and AT&T and then vanished as a pitchman because he got caught up in the steroid controversy. Bank of America in June dropped its 16 year old sponsorship of the US Olympic Team and rumors are that it is because of a trade publication about the bank's bailout status.

Disney DIS $32.25 -0.03 0.09% 19,597,428 NYSE: Barron's pM3 "The Trader" by Kopin Tan says the Dow Jones ended '09 up 1652 points to 10,428 and the 18.8% annual gain was its best since '03. 3 of the top 4 gainers were tech outfits, including Microsoft, IBM and Cisco, although American Express' 118% rebound made it the top blue chip by far. He also says one of the year's big deals was Disney's acquisition of Marvel Entertainment.

Forbes p 59 has an article by Laurie Burkitt about a web site, Babytree, that has 12 mil unique visitors a month and says US advertisers include Disney and Pfizer's Wyeth, who are seizing on Babytree's traffic to peddle toys and formula. Procter & Gambles pays $50,0000 a month to advertise its pampers as does its competitor, Kimberly-Clark who advertises Huggies.

DuPont DD $33.67 -0.38 1.12% 4,254,874 NYSE: Forbes p100 "A Grateful Dead Year" by Ken Fisher says when he started writing 38 years ago, classy firms like Disney and DuPont sold at 40 times earnings. This era of glamour stock investing was followed by a decade of negative returns. Then there was an 18 year run for stocks.

ExxonMobil XOM $68.19 -0.58 0.84% 18,735,593 NYSE: Barron's p14 "For Chevron, It could Be a Happy New Year" by Dimitra DeFotis says Chevron is marking the new year with a new CEO as David O'Reilly has retired after 41 years at Chevron, 10 of those as CEO, being replaced by John Watsalthough it is likely to prove critical as the San Ramon, Calif. based firm embarks on numerous exploration projects around the world, and seeks to replace reserves at a time what then has proved difficult and costly. In a side bar Chevron's stock price and key statistics are compared with 8 of its competitors including ExxonMobil. Oil exploration and production contributed 86% of Chevron's profit in '08, and crude accounted for two-thirds dof the firm's 11.2 bil barrels of oil reserves at the end of hat year, compared to ConocoPhillips where oil was 59% of total reserves and at industry leader ExxonMobil at 49%, now that Exxon has agreed to cquire XTO Energy a producer of natural gas. Chevron also has one of the industry's better exploration growth profiles. Analyst sand investors are upbeat about Chevron's prospects - at the wellhead and in the stock market, in 2010. The firm's fans think the shares, now 77.2, could rally more than 20% in the enxt 12 months. Investors also collect an annual dividend of $2.72 a share, for a current yield of 3.5%. That payout, totaling about $5.5 bil, makes Chevron one of the largest dividend payers among the S&P 500's members. Chevron historically has traded at a deep discount to Exxon which could narrow in coming years, even though Chevron's average costs for developing oil and gas are above those of other big oil firms.

GE $15.13 -0.22 1.43% 44,264,229 NYSE: Forbes p56 has an article by Laurie Burkitt about Rubicon Project that aims to help digital media outlets get mroe revenue. Rubincon's investors include NBC/peacock Equity Fund half owned by GE and half by Comcast.

Hewlett-Packard HPQ $51.51 -1.42 2.68% 13,784,816 NYSE: Barron's p22 "ech Trader" by Eric J. Savitz says he thinks IT spending will boom in '10 driven by a pickup in the economy and highly improved server proessors. The spread of virtualization tech and cloud computing will cause enterprise cmoputing firms like Oracle, Hewlett-Packard and IBM to thrive.

Barron's Cover story p19 "Sky's the Limit" by Mark Veverka is about cloud computing which is the interconnection of computer data centers via a network, usually the Internet. The cloud image is a tracing of Internet links that connect several different computer systems. You're in the clouds when you access a photo from a social networking Website and store your pictures on the site, rather than on your hard drive or when you're a small biz owner who decides to access his sales group's customer relationship programs via a Web browser instead of having his own software app. Barron's cover says cloud computing wil be the biggest tech development since the Internet and the beneficiaries could include HP, IBM, Microsoft, Apple, Amazon & AT&T.

Home Depot HD $28.93 -0.20 0.69% 7,397,950 NYSE: Forbes p 12 says Jan-Marie Eveillard, a money manager likes Berkshire Hathaway, Home Depot and Apache.

Intel INTC $20.4 -0.19 0.92% 24,877,847 NASDAQ-GS: Barron's p31 is a book review by Lewis Perdue of Start-Up Nation by Dan Senor & Saul Singer hat says if your computer has "Intel inside" then the Intel inside has "Israel inside" as does eBay and thousands of other innovative companies and technologies. The book, subtitled The Story Of Israel's Economic Miracle, shows how anti--Israel neighbors, terrorism and almost constant war drove a tiny, poor, fledgling nation to create a first world economy with the greatest concentration of innovation and entrepreneurship in the world. There is a chapter that explains how Intel tried to kill a project in 2000 in Israel where Intel's team found a way to opeate a microprocessor at lower clock speeds, thus consuming less power and generating less heat, allowing laptops to run longer on a battery charge. The Israelis persisted, leading in '03 to the famed Centrino chip.

Forbes p32 "Flashbacks" from 10/10/94 says Intel had antitrust problems then and notes that the FTC sued Intel in Dec. for antitrust tactics.

IBM $130.9 -1.67 1.26% 4,181,980 NYSE: Barron's pM3 "The Trader" by Kopin Tan says the Dow Jones ended '09 up 1652 points to 10,428 and the 18.8% annual gain was its best since '03. 3 of the top 4 gainers were tech outfits, including Microsoft, IBM and Cisco, although American Express' 118% rebound made it the top blue chip by far. He also says one of the year's big deals was Disney's acquisition of Marvel Entertainment.

Barron's p22 "Tech Trader" by Eric J. Savitz says he thinks IT spending will boom in '10 driven by a pickup in the economy and highly improved server proessors. The spread of virtualization tech and cloud computing will cause enterprise cmoputing firms like Oracle, Hewlett-Packard and IBM to thrive.

Barron's Cover story p19 "Sky's the Limit" by Mark Veverka is about cloud computing which is the interconnection of computer data centers via a network, usually the Internet. The cloud image is a tracing of Internet links that connect several different computer systems. You're in the clouds when you access a photo from a social networking Website and store your pictures on the site, rather than on your hard drive or when you're a small biz owner who decides to access his sales group's customer relationship programs via a Web browser instead of having his own software app. Barron's cover says cloud computing will be the biggest tech development since the Internet and the beneficiaries could include HP, IBM, Microsoft, Apple, Amazon & AT&T.

J.P.Morgan Chase JPM $41.67 +0.14 0.34% 19,927,935 NYSE: NYT Bus pB1 "Citi's Creator, Alone With His Regrets" by Katrina Brooker profiles Sandy Weill, the creator of Citigroup. At the jump there is a sidebar that is a timeline that says in 1974 Weill's brokerage firm buys Shearson Hammill and sells it 7 years later to American Express, in '83 becomes pres. of American Express and resigns 2 years later. The article mentions how Weill pushed out Jamie Dimon from being his sucessor. Dimon is now CEO of JPMorgan Chase.

Johnson & Johnson JNJ $64.41 -0.50 0.77% 6,900,157 NYSE: Forbes p81 in an item by Melanie Wells says marketers will create their own ways to connect with consumers and gives two examples: Johnson & Johnson's BabyCenter and soon Procter & Gamble's Rouge magazine.

Kraft KFT $27.18 -0.31 1.13% 5,191,146 NYSE: Frobes p57 "Got Cookies? by Vivian Wai-yin Kwok describes Kraft's methods of selling Oreos and other old favorites to new Chinese customers. Side bar says that in 1903 James L. Kraft started selling cheese from a horse drawn wagon. Today Kraft Foods is the world's second largest food firm. In 1912 the National Biscuit Co. introduced the Oreo cookie. it takes 9 minutes to make dinner for 4 using Kraft's macaroni & cheese in '37, according to ads. In '96, Kraft launched US style Oreos in China and retooled its recipe in '05. Oreo has a 7.3% share of the "biscuit" market in China. Kraft employs 3,000 workers in China. China is the most important nation in Kraft's developing markets division.

Merck MRK $36.54 -0.52 1.4%7,065,058 NYSE: Barron's p M38 says Merck has paid dividends of .38 a share for the last 5 quarters.

McDonald's MCD $62.44 -0.45 0.72% 4,465,505 NYS: Forbes p104 "Intrinsic Value" by Whitney Tilson, John Heins says Berkshire Hathaway, Microsoft and Yahoo are undervalued. Microsoft is safe, cheap and rapidly growing for a firm its size. It reported very strong earnings in the Sept. quarter, even without the benefit of Windows 7, the biggest product launch in the firm's history. They says that it is highly likely that McDonald's will be selling more hamburgers and earning more money five years from now but other than that it is hard to make reasonable estimation of long term outcomes.

Microsoft MSFT $30.48 -0.48 1.55% 29,988,546 NASDAQ-GS: Barron's pM3 "The Trader" by Kopin Tan says the Dow Jones ended '09 up 1652 points to 10,428 and the 18.8% annual gain was its best since '03. 3 of the top 4 gainers were tech outfits, including Microsoft, IBM and Cisco, although American Express' 118% rebound made it the top blue chip by far. He also says one of the year's big deals was Disney's acquisition of Marvel Entertainment.

Forbes p104 "Intrinsic Value" by Whitney Tilson, John Heins says Berkshire Hathaway, Microsoft and Yahoo are undervalued. Microsoft is safe, cheap and rapidly growing for a firm its size. It rpeorted very strong earnings in the Sept. quarter, even without the benefit of Windows 7, the biggest product launch in the firm's history.

Pfizer PFE $18.19 -0.31 1.68% 25,553,774 NYSE: Forbes p 59 has an article by Laurie Burkitt about a web site, Babytree, that has 12 mil unique visitors a month and says US advertisers include Disney and Pfizer's Wyeth, who are seizing on Babytree's traffic to peddle toys and formula. Procter & Gambles pays $50,0000 a month to advertise its pampers as does its competitor, Kimberly-Clark who advertises Huggies.

Procter & Gamble PG $60.63 -0.74 1.21% 5,728,499 NYSE: Forbes p 59 has an article by Laurie Burkitt about a web site, Babytree, that has 12 mil unique visitors a month and says US advertisers include Disney and Pfizer's Wyeth, who are seizing on Babytree's traffic to peddle toys and formula. Procter & Gambles pays $50,0000 a month to advertise its pampers as does its competitor, Kimberly-Clark who advertises Huggies.

Forbes p81 in an item by Melanie Wells says marketers will create their own ways to connect with consumers and gives two examples: Johnson & Johnson's BabyCenter and soon Procter & Gamble's Rouge magazine

3M MMM $82.67 -1.23 1.47% 2,030,297 NYSE: Barron's p M38 says 3M has paid dividends of .51 a share for the last 4 quarters and .50 for the quarter just prior to that span.

Travelers TRV $49.86 -0.40 0.8% 2,278,373 NYSE: Barron's p M38 says Travelers has paid dividends of .33 a share for the last quarter of '09, & .30 for the prior two quarters.

United Technologies UTX $69.41 -1.08 1.53% 2,623,338 NYSE: Barron's p M38 says United Technologies has paid dividends of .385 a share for the last 5 quarters.

Verizon VZ $33.13 -0.29 0.87% 7,462,957 NYSE: Barron's p11 "Streetwise" by Michael Santoli said that this year telecom and media stocks, sucha s Verizon, DirecTV and Cablevision were strong performers this year in the stock market.

Barron's p13 says on Tues 1/5/10 Citi's 20th Annual Global Entertainment Media & Telecommunications confab takes place in San Fran and will include top officers from AT&T, T-Mobile USA, Sprint Nextel and Verizon.

WalMart WMT $53.45 -0.85 1.57% 9,726,227 NYSE: Forbes p40 "Paying Retail" by Stephane Fitch says Wal-Mart is famous for squeezing suppliers. But in a telling sign of what's wrong with many 401(k) plans, it took a lawsuit to make it equally exacting with its employees' retirement savings.

Barron's p31 is a book review by Jim McTague of Card Tricks" by Lloyd Constantine that is about a $3.4 bil antitrust case against credit card giants Visa and MasterCard which ran from '96 to '03. Several large retailers, including The Limited, Wal-Mart and Safeway, brought what became known as The Merchants' Case against the credit card firms who had purposely designed their debit cards to look like cng to the complaint. Debit card transactions are less expensive for issuers to process than credit card transactions which is a bank loan at the cash registered; yet the card issuers charged the merchants the same fee, regardless which card was used.
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Here are the 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 Watso
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 1/4/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 204 [4]
4. Chevron CVX 188 [2.5]
5. Johnson & Johnson JNJ 178 [3]
6. Procter & Gamble PG 177 [3]
7. IBM 172 [1.5]
8. AT&T 165 [6]
9 JPMorgan Chase 164 [4]
10. GE 161 [10.5]
11. Pfizer PFE 147 [8]
12. Cisco CSCO 138 [6]
13. Coke KO 132 [2]
14. BAC 130 [8.5]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 113 [5.5]
17. McDonald's MCD 104 [1.5]
18. Verizon VZ 94 [3]
19. Merck MRK 77 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 58 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 35 [.5]
28. DuPont DD 30 [1]
29. Travelers 27 [.5]
30. Alcoa AA 16 [1]

Here are the latest SEC filings as of 12/18/09 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: 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 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: 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: 11/24/09 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: 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: 12/17/09 10K

Home Depot HD: 12/3/09 10Q

Intel INTC: 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: 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: 12/18/09 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: 11/4/09 8K announcing 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: 12/14/09 8K re: amendment of bylaws & change in fiscal year.

Procter & Gamble PG: 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: 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: 12/23/09 8K re: grant of stock options to executives.

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

WalMartWMT: 12/8/09 10Q