2/13/10 Sat. Dow Gains 86.91 or 0.87% for the Week

WWW.DowJonesMonitor.com

Note: Due to bad weather, my print editions still have not arrived at my doorstep this icy Sat. morning. As you know, part of the purpose of this Blog is to gauge the market sentiment from the print media versus online content (other than excerpts at close of market from online Market Watch). This Blog also chronicles the transition from print to electronic information transmission. Weather can interrupt online transmission as well.

The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.

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 current CEOs, a ranking of the Dow 30 components by market capitalization as of 2/1/10 and an update of the Dow 30 component's most recent SEC filings as of 2/1/10.

A read of Saturday's print editions of: The Wall Street Journal, The Financial Times, The New York Times, USA Today, Atlanta Journal Constitution, 2/12-2/18/10 issue of Atlanta Business Chronicle, 2/22/10 issue of Time, 3/1/10 issue of Forbes, 1st Quarter issue of NYSE Magazine yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Friday at 10,099.14 down 45.05 or 0.44% from Thursday's close of 10,144.19. For the week the Dow is up 86.91 or 0.87% from last Friday's close of 10,012.23. Of the 30 Dow Companies: 8 gained and 22 declined. The biggest gainer dollar-wise and percentage-wise was Intel INTC $20.43 +0.37 1.84% 88,438,933 NASDAQ-GS. The biggest decliner dollar-wise was 3M MMM $79.18 -1.09 1.36% 5,426,379 NYSE and percentage-wise was Alcoa AA $13.28 -0.30 2.21% 46,030,750 NYSE.

As of the open of the market Saturday, the current divisor for the Dow Jones Industrial Average found at page B4 of today's Wall St. Journal is 0.132319125 unchanged, the trailing P/E ratio is 16.43 up from Friday morning's 16.43 (year ago it was 18.82) the P/E estimate is 12.67 unchanged from Friday's 12.67 (year ago it was 10.06) and the current dividend yield is 2.68 down from Friday's 2.68 (it was 3.94 a year ago).

Friday's Dow Jones Industrial Average closing numerator was 1,336.31 down 5.96 from Thursday's closing Dow numerator of 1,342.27. 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 5.96 for Friday by the divisor you get the decrease in Friday's Dow close of 45.05. A $1 change in the price of any DJIA stock = a 7.56 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 44.54 down 0.20 from Thursday's Dow Jones Industrial Average closing price of $44.74. The median closing price of Friday's Dow Jones Industrial Average was 38.69 down 0.02 from Thursday's median closing price of 38.71. The lowest volume was Boeing BA $59.65 -0.94 1.55% 5,147,631 NYSE and the highest volume again was Bank of America BAC $14.45 -0.18 1.23% 161,807,997 NYSE.

If Friday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $600 ($134,220 - $133,620).

Market Watch Friday 2/12/10 4:37 pm by Peter McKay says U.S. stocks ended with moderate losses Friday, hurt by worries about the global economic recovery as China made it harder to borrow and data showed sluggish European growth. Helping the benchmark indexes off earlier lows, some technology bellwethers posted big gains, while data on U.S. retail sales were surprisingly strong. The Dow Jones Industrial Average, which posted a 160-digit point decline at its morning low, ended down 45.05 points, or 0.4%, at 10,099.14. Friday's stock decline capped a week marked by volatile moves and a series of key announcements affecting every major economy in the world. But the big swings and headlines added up to relatively modest gains for investors - a sign that many key policy questions remain unanswered. The Dow's slight loss on Friday left it with a gain of 0.9% for the week, thanks mostly to a big advance Thursday after the European Union made a general statement in support of heavily indebted Greece. The Nasdaq Composite Index rose 0.3% on Friday to 2,183.53, up 2% for the week. The S&P 500 slipped 0.3% on Friday to 1075.51, up 0.9% on the week. All its sectors fell Friday except technology, which eked out a 0.1% gain. The category's best performer was Motorola Inc., up 7.5% after it said late Thursday that it plans to split itself up into two separate companies. JDS Uniphase rose 6.6% after it decided to buy the network-testing equipment business of Agilent Technologies. Earlier in the session, the Dow tumbled as spooked investors fretted over an announcement by the People's Bank of China to raise the ratio of reserves banks must set aside by 0.5 percentage points, marking the second such action this year. The central bank has been tightening monetary policy in an attempt to restrain bank lending. Read more on China and reserves. Meanwhile, data from the European Union's statistics agency showed that combined gross domestic product in the 16 countries that use the euro rose by a weaker-than-expected 0.1% in the fourth quarter from the previous quarter and was down 2.1% on a year-to-year basis. In the third quarter, GDP rose by 0.4%. Read more on sluggish Europe. The fate of heavily indebted Greece has dominated traders' attention throughout the week. Some participants looked ahead Friday to further details of a possible EU rescue effort that may emerge from two days of meetings by EU finance ministers slated to begin on Monday, when U.S. markets will be closed for Presidents Day. Volume was light on Friday as many traders sat on the sidelines. Composite turnover in New York Stock Exchange-listed names hit 4.5 billion shares, missing the 2010 daily average around 5 billion shares. The dollar cooled. The U.S. Dollar Index, which measures the U.S. currency against a basket of six other currencies, was up 0.5%. Crude-oil futures slid, while gold futures declined. Treasurys climbed, with the 10-year note up 9/16 to yield 3.687%. On the Dow, Alcoa Inc. shares led decliners. Intel Corp. was the Dow's biggest gainer, up 1.8%.

AT&T T $25.07 -0.12 0.48% 33,941,640 NYSE: Atl Bus. Chron. "State Senate fast-tracks telecom reform" by Dave Williams says a compromise aimed at ending a war waged within Ga's telecom industry over reform legislation sailed through the state Senate. The first overhaul of the state's telecom regs since '95 still has to be passed in the Ga. House. The Telecom Jobs and Investment Act would deregulate the industry by removing the Ga. Public Service Comm's authority to set phone rates, and en disparities in access charges by requiring nat'l telecom giants, wireless firms and local phone firms to charge the same rates. Representatives of AT&T, Verizon Wireless and Sprint Nextel Corp. testified to endorse the compromise bill which gives them 10 years to bring their intrastate rates into line with their interstate charges, while the local phone firms are require to comply with the parity requirement in 5 years.

Alcoa AA $13.28 -0.30 2.21% 46,030,750 NYSE:

American Express AXP $38.42 +0.13 0.34% 10,621,137 NYSE:

Bank of America BAC $14.45 -0.18 1.23% 161,807,997 NYSE:

Boeing BA $59.65 -0.94 1.55% 5,147,631 NYSE: Atl. Bus. Chron. p1A "Gwinnett dreams of Boeing jobs" by Urvaksh Karkaria says a Georgia firm, Web Industries Inc., will provide the carbon fiber sheets for the Boeing 787's fuselage. Boeing has orders for 851 787s from 56 customers, including 18 for Delta.

NYSE Mag. "The Power of Green" by Paul Rogers says establishing sustainable practices and products, once seen as an obligation, is now boosting the bottom lines of some of the world's largest firms. Caterpillar is the world's largest manufacturer of earth moving equipment based on revenues. It identified sustainable development as a key priority in '04, shortly after Jim Oens took over as CEO of the 84 year old Peoria, Ill based firm. Doug Oberhelman is the current CEO. The firm generated much of its '08 revenues of $51 bil by selling its "yellow iron" to the mining, construction and oil extraction industries. Cat began its sustainability efforts by looking at all phases of its operations. It took Caterpillar several years to move beyond mere cost saving and gov compliance. Now Caterpillar looks at sustainability as how to make money out of it. An example is its rollout last spring of its D7E tractor, the first bulldozer with an all electric drive train. The firm is also converting the steel from an old factory into engine parts. Another example is Fedex began replacing its 90 Boeing 727s with wider Boeing 757s. Also Kraft is using the water by product of cheese making and converting it into biomethane energy. Kraft is also the largest buyer of Rainforest Alliance certified coffee and cocoa. McDonald's also uses Rainforest Alliance Certified tea.

Caterpillar CAT $56.2 +0.05 0.09% 13,418,399 NYSE: NYSE Mag. "The Power of Green" by Paul Rogers says establishing sustainable practices and products, once seen as an obligation, is now boosting the bottom lines of some of the world's largest firms. Caterpillar is the world's largest manufacturer of earth moving equipment based on revenues. It identified sustainable development as a key priority in '04, shortly after Jim Oens took over as CEO of the 84 year old Peoria, Ill based firm. Doug Oberhelman is the current CEO. The firm generated much of its '08 revenues of $51 bil by selling its "yellow iron" to the mining, construction and oil extraction industries. Cat began its sustainability efforts by looking at all phases of its operations. It took Caterpillar several years to move beyond mere cost saving and gov compliance. Now Caterpillar looks at sustainability as how to make money out of it. An example is its rollout last spring of its D7E tractor, the first bulldozer with an all electric drive train. The firm is also converting the steel from an old factory into engine parts. Another example is Fedex began replacing its 90 Boeing 727s with wider Boeing 757s. Also Kraft is using the water by product of cheese making and converting it into biomethane energy. Kraft is also the largest buyer of Rainforest Alliance certified coffee and cocoa. McDonald's also uses Rainforest Alliance Certified tea.

Chevron CVX $71.01 -0.72 1% 13,713,552 NYSE: Forbes "Talent Search" by Victoria Barret p26 says Chevron has been hiring more engineers and other skilled workers in economies where growth is strong, including Thailand, Indonesia and Australia, than in the US. It bulked up its ranks with younger workers when oil was sellng for $100 a barrel in mid '08. The count of newcomers, with less than 5 years of service, is now at 19,8000, a third of the workforce at Chevron, up from 10% a decade ago.

Cisco CSCO $23.76 -0.17 0.71% 53,702,642 NASDAQ-GS:

Coca-Cola KO $53.98 -0.24 0.44% 12,251,948 NYSE: Atl Bus. Chron. p10A says KO's profit rose 18% in '09, benefiting from growth in markets outside of N America and Europe. It had net income of $6.82 bil and earnings of $2.93 a share, compared with net income of $5.81 bil and earnings of $2.49 a share in '08. Coke's annual rev was down 3% to $31 bil.

DuPont DD $32.28 -0.27 0.83% 9,642,686 NYSE:

Disney DIS $30.07 -0.09 0.3% 12,744,367 NYSE:

ExxonMobil XOM $64.8 -0.44 0.67% 30,429,962 NYSE:

GE $15.55 -0.22 1.4% 76,047,696 NYSE:

Hewlett-Packard HPQ $48.46 +0.16 0.33% 15,692,102 NYSE:

Home Depot HD $29 +0.01 0.03% 14,977,124 NYSE:

Intel INTC $20.43 +0.37 1.84% 88,438,933 NASDAQ-GS:

IBM $124 -0.27 0.22% 7,978,732 NYSE:

JPMorgan JPM $38.95 -0.07 0.18% 37,883,099 NYSE:

Johnson & Johnson JNJ $62.72 -0.19 0.3% 12,229,184 NYSE:

Kraft KFT $29.09 +0.10 0.34% 64,367,796 NYSE: NYSE Mag. "The Power of Green" by Paul Rogers says establishing sustainable practices and products, once seen as an obligation, is now boosting the bottom lines of some of the world's largest firms. Caterpillar is the world's largest manufacturer of earth moving equipment based on revenues. It identified sustainable development as a key priority in '04, shortly after Jim Oens took over as CEO of the 84 year old Peoria, Ill based firm. Doug Oberhelman is the current CEO. The firm generated much of its '08 revenues of $51 bil by selling its "yellow iron" to the mining, construction and oil extraction industries. Cat began its sustainability efforts by looking at all phases of its operations. It took Caterpillar several years to move beyond mere cost saving and gov compliance. Now Caterpillar looks at sustainability as how to make money out of it. An example is its rollout last spring of its D7E tractor, the first bulldozer with an all electric drive train. The firm is also converting the steel from an old factory into engine parts. Another example is Fedex began replacing its 90 Boeing 727s with wider Boeing 757s. Also Kraft is using the water by product of cheese making and converting it into biomethane energy. Kraft is also the largest buyer of Rainforest Alliance certified coffee and cocoa. McDonald's also uses Rainforest Alliance Certified tea.

McDonald's MCD $63.59 -0.20 0.31% 6,706,099 NYSE:Time p88 "McDonald's Has a Chef?" by John Cloud profiles the most influential cook in America, Mcdonald's Chef, Dan Coudreaut, who is the creative mind behind the salads and wraps that helped update McDonald's greasy image. Now he is even changing the Big Mac as he rethinks the food part of fast food.

NYSE Mag. "The Power of Green" by Paul Rogers says establishing sustainable practices and products, once seen as an obligation, is now boosting the bottom lines of some of the world's largest firms. Caterpillar is the world's largest manufacturer of earth moving equipment based on revenues. It identified sustainable development as a key priority in '04, shortly after Jim Oens took over as CEO of the 84 year old Peoria, Ill based firm. Doug Oberhelman is the current CEO. The firm generated much of its '08 revenues of $51 bil by selling its "yellow iron" to the mining, construction and oil extraction industries. Cat began its sustainability efforts by looking at all phases of its operations. It took Caterpillar several years to move beyond mere cost saving and gov compliance. Now Caterpillar looks at sustainability as how to make money out of it. An example is its rollout last spring of its D7E tractor, the first bulldozer with an all electric drive train. The firm is also converting the steel from an old factory into engine parts. Another example is Fedex began replacing its 90 Boeing 727s with wider Boeing 757s. Also Kraft is using the water by product of cheese making and converting it into biomethane energy. Kraft is also the largest buyer of Rainforest Alliance certified coffee and cocoa. McDonald's also uses Rainforest Alliance Certified tea.

Merck MRK $36.92 +0.04 0.11% 17,809,442 NYSE:

Microsoft MSFT $27.93 -0.19 0.68% 77,348,621 NASDAQ-GS: Forbes "Three Questions for Steve Jobs" by Lee Gomes says Microsoft made a conscious effort with Windows 7 to make the computers that use it start more quickly. They don't start as quick as a Mc but things are moving in the right direction.

Pfizer PFE $17.8 -0.07 0.39% 50,117,165 NYSE:

Procter & Gamble PG $61.76 -0.20 0.32% 16,144,482 NYSE: NYSE Mag. "WalMart - A Green Leader" by Susan Caminiti says the world's largest retailer plans to help customers understand the meaning of sustainability by developing eco-labels for every product it carries. Walmart also required its suppliers like Procr and Gamble to use smaller bottles for detergent so there would be less plastic.

3M MMM $79.18 -1.09 1.36% 5,426,379 NYSE:

Travelers TRV $50.45 +0.25 0.5% 5,789,186 NYSE:

United Technologies UTX $65.69 -1.02 1.53% 7,929,169 NYSE:

Verizon VZ $28.93 -0.11 0.38% 14,194,435 NYSE: Atl Bus. Chron. "State Senate fast-tracks telecom reform" by Dave Williams says a compromise aimed at ending a war waged within Ga's telecom industry over reform legislation sailed through the state Senate. The first overhaul of the state's telecom regs since '95 still has to be passed in the Ga. House. The Telecom Jobs and Investment Act would deregulate the industry by removing the Ga. Public Service Comm's authority to set phone rates, and en disparities in access charges by requiring nat'l telecom giants, wireless firms and local phone firms to charge the same rates. Representatives of AT&T, Verizon Wireless and Sprint Nextel Corp. testified to endorse the compromise bill which gives them 10 years to bring their intrastate rates into line with their interstate charges, while the local phone firms are require to comply with the parity requirement in 5 years.

WalMart WMT $52.9 -0.18 0.34% 17,017,773 NYSE: NYSE Mag. "WalMart - A Green Leader" by Susan Caminiti says the world's largest retailer plans to help customers understand the meaning of sustainability by developing eco-labels for every product it carries. Walmart also required its suppliers like Procr and Gamble to use smaller bottles for detergent so there would be less plastic.
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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 2/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $318 [5]
2. Microsoft MSFT 252 [9]
3. WalMart WMT 203 [4]
4. Chevron CVX 180 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 174 [3]
7. GE 173 [10.5]
8. IBM 164 [1.5]
9 JPMorgan Chase 156 [4]
10. Pfizer PFE 152 [8]
11. AT&T 150 [6]
12. BAC 134 [8.5]
13. Cisco CSCO 131 [6]
14. Coke KO 126 [2]
15. Hewlett-Packard HPQ 113 [2]
16. Intel INTC 108 [5.5]
17. McDonald's MCD 106 [1.5]
18. Verizon VZ 84 [3]
19. Merck MRK 81 [2]
20. United Technologies UTX 63 [1]
21. 3M MMM 57 [.5]
22. Disney DIS 57 [2]
23. Home Depot 48 [2]
24. American Express AXP 45 [1]
25. Boeing BA 45 [1]
26. Kraft KFT 41 [1.5]
27. Caterpillar CAT 33 [.5]
28. DuPont DD 30 [1]
29. Travelers 28 [.5]
30. Alcoa AA 13 [1]

Here are the latest SEC filings as of 2/1/10 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: 1/29/10 8K re: 29,500 employees represented by Communications Workers of America District 3 failed to ratify the tentative labor agreement announced on December 14, 2009.

1/28/10 8K re: 4Q earnings were $0.51 per diluted share compared with $0.41 per share for the 4Q '08. 4Q net income was $3.0 bil compared with $2.4 bil for 4Q '08. Reported earnings for the full year '09 were $2.12 per diluted share, down from $2.16 per share for the full year '0 &net income for '09 was $12.5 bil, down from $12.9 bil for '08.

Alcoa AA: 1/27/10 8K re: contributions to pension plan of stock.

1/25/10 8K re: quarterly dividend on Alcoa’s common stock and preferred stock and that a contribution was authorized of up to $600 million in Alcoa common stock to Alcoa’s defined benefit pension plans.

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.

American Express AXP: 1/25/10 8K re: increases to the annual base salaries Kenneth I. Chenault, Chairman & CEO from $1,250,000 $2,000,000; Edward P. Gilligan, Vice Chairman from $1,100,000 to $1,450,000; Stephen J. Squeri, Group President – Global Services & Chief Information Officer from $750,000 to $1,000,000; and Daniel T. Henry, Exec. VP & CFO from $700,000 to $850,000.

1/21/10 8K re: 4Q EPS of $0.59, up from $0.26 a year ago & other fin'l results.

1/15/10 8K re: owned and managed basis delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months of Oct., Nov. and Dec. '09.

Bank of Am BAC: 1/20/10 8K re: '09 net income of $6.3 bil, compared with net income of $4.0 bil '08. Including preferred stock dividends & the negative impact from the repayment of the U.S. gov’s $45 billion preferred stock investment in the company under the Troubled Asset Relief Program, income applicable to common shareholders was a net loss of $2.2 billion, or $0.29 per diluted share.

1/15/10 8K re: Brian Moynihan, CEO's new senior management team: Steele Alphin, chief admin. officer; Cathy Bessant, Global Technology & Operations exec, David Darnell, pres. of Global Commercial Banking; Barbara Desoer, pres. of Home Loans & Insurance; Anne Finucane, global strategy & marketing officer; Sallie Krawcheck, pres. of Global Wealth & Investment Management; Tom Montag, pres. Global Banking & Markets; Ed O’Keefe, gen'. counsel; Joe Price, president of Consumer, Small Business & Card Banking; Neil Cotty interim CFO; Bruce Thompson chief risk officer; & Greg Curl will focus on key strategic partnerships critical to BAC’s global capabilities.

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.

Boeing BA: 1/27/10 8K re: 4Q '09 results: rev grew to $17.9 bil & operating margin grew to 9.4% with net income of $1.75 per share. Operating cash flow increased to $3.2 bil.

Caterpiller CAT: 1/27/10 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.

1/27/10 8K re: sales & rev of $32.39 bil for '09, a decrease of 37% from $51.32 biln in '08. Profit per share was $1.43, down 75%. 4Q sales & rev. were $7.9 bil, down 39% from 4Q '08. Profit per share for 4Q was $0.36, down 67% from 4Q '08.

Chevron CVX: 1/29/10 8K re: earnings for 4Q '09: net income was $3.1 bil, down 37% from $4.9 bil in 4Q '08.

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: 11/25/09 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: 1/22/10 Proxy Statement for '10 Annual Meeting of shareholders, which will be held on Wednesday, 3/10/10 at 10 a.m. at the JW Marriott San Antonio Hill Country in San Antonio, Texas.

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.

DuPont DD: 1/26/10 8K re: 4Q EPS of $.48 compared to a 4Q '08 loss of $.70 per share. Sales of $6.4 bil were up 10% vs prior year, led by sales growth greater than 20% for titanium dioxide, electronic materials, performance polymers & seed products.

ExxonMobil XOM: 2/1/10 8K re: 4Q results: earnings were $6,050 mil, a decrease of 23% or $1,770 mil from 4Q '08. EPS were $1.27, a decrease of 18%. Capital & exploration expenditures were $8.3 bil, up 21% from the 4Q '08.

GE: 1/22/10 8K re: 4Q ’09 EPS of $0.28; FY ’09 EPS of $1.03; rev of $41.4 bil for Quarter; $157 bi for Year.

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: 1/27/10 Def. Proxy Statement re: annual stockholders meeting on 3/1710 at 2 pm at Computer History Museum, 1401 N. Shoreline Boulevard, Mountain View, Cal.

1/27/10 8K re: Electronic Data Systems Corporation, which HP acquired in '08 is a defendant in litigation filed in the United Kingdom by Sky Subscribers Services Limited and British Sky Broadcasting Limited in '04 alleging deceit, negligent misrepresentation, negligent misstatement and breach of contract. On 1/26/10, the court issued a decision finding EDS UK liable to BSkyB for deceit in one area of the claim, for negligent misrepresentation and negligent misstatement in another area of the claim, and for breach of contract. The court also dismissed all of BSkyB’s other claims. The court will issue a final quantification of damages at a later date. HP plans to appeal.

Home Depot HD: 12/3/09 10Q

Intel INTC: 1/25/10 8K re: promotions of Renee J. James, Thomas M. Kilroy, Brian M. Krzanich & Stacy J. Smith to sr. vp.

1/15/10 8K re: 4Q earnings of revenue of $10.6B, up 13% sequentially; nearly twice the average seasonal sequential growth seen in 4Q; gross margin of 64.7% was a record, and up 7 points compared to 3Q; operating income of $2.5B was down 3% sequentially, and up 62% from a year ago. Net income of $2.3B was up 23% sequentially, and up 875% from a year ago.

12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.

IBM: 1/29/10 8K re: compensation for its top 5 execs.

1/19/10 8K re: Record diluted earnings per share of $10.01, up 13%; 7th consecutive year of double-digit EPS growth; record net income of $13.4 bil, up 9%; gross profit margin of 45.7%, 6th consecutive year of increase; record free cash flow of $15.1 bil, up $0.8 bil.

JPMorganChase JPM: 1/25/10 8K re: amendments to By-laws re: special meetings of stockholders.

1/19/10 8K re: 4Q results.

Kraft KFT: 2/1/10 8K re: further details about the dealing facilities that will be available to accepting Cadbury Securityholders who hold their Cadbury Shares or Cadbury ADSs in certificated form.

1/27/10 8K re: Kraft reduced the number of acceptances required to fulfil the Acceptance Condition of the recommended Final Offer for Cadbury from 90% to 50% plus one Cadbury Share.

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.

McDonalds MCD: 1/26/10 8K re: compensation to execs.

1/22/10 8K re: '09 results: global comparable sales increase of 3.8%, fueled by the U.S. 2.6%, Europe 5.2% & Asia/Pacific, Middle East & Africa 3.4%; growth in McDonald’s combined operating margin to 30.1%; consolidated operating income increase of 6% (10% in constant currencies) over the prior year; earnings per share of $4.11, up 9% over the prior year; & return of $5.1 bil to shareholders through shares repurchased & dividends paid, bringing the 3-year total to
$16.6 bil under MCD’s $15 bil to $17 bil cash return to shareholders target for '07 through '09.

1/15/10 8K re: Donald Thompson elected Pres. & Chief Operating Officer. He's been with McDonald's for 19 years.

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

Merck MRK: 11/18/09 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: 1/28/10 10Q.

1/28/10 8K re: record revenue of $19.02 bil for 2Q ended 12/31/09, a 14% increase from the same period of the prior year. Operating income, net income & diluted earnings per share for the quarter were $8.51 bil, $6.66 bil & $0.74 per share, which represented increases of 43%, 60% and 57%, respectively, when compared with the prior year period.

12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.

Pfizer PFE: 12/16/09 8K re: amendment of bylaws & change in fiscal year.

Procter & Gamble PG: 1/28/10 8K re: net sales growth of 6% for the October - December quarter to $21.0 bil. Organic sales grew 5%. Diluted net earnings per share were $1.49.

1/28/10 10Q

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: 1/28/10 8K re: 4Q earnings of $1.30 per share on sales of $6.1 bil, with operating income margins of 21.9%. Sales & per-share earnings increased 11.1% & 69% year-on-year, respectively. Profits grew at double-digit rates in each of the company’s six business segments and in all geographic regions. Free cash flow for 4Q grew by 16% to $770 million. 3M '09 sales of $23.1 bil & earnings per share of $4.52, down 8.5% & 7.6% respectively. Excluding special items, '09 earnings declined 9.3%to $4.69 per share.

Travelers TRV: 1/26/10 8K re: net income of $1.285 bil, or $2.36 per diluted share, for the quarter ended 12/31/09, compared to $801 mil, or $1.35 per diluted share, for the quarter ended 12/3108. Operating income in the current quarter was $1.155 bil, or $2.12 per diluted share, compared to $939 mil, or $1.58 per diluted share, in the prior year quarter.

United Technologies UTX: 1/27/10 8K re: 4Q '09 earnings per share of $1.15 & net income attributable to common shareowners of $1.1 bil, down 7% and 6%, respectively, over the year ago quarter. Consolidated revenues for the quarter of $14.1 billion were 5% below prior year.

Verizon Communications Inc. VZ: 1/26/10 8K re: Consolidated cash flow growth in 4Q '09: $31.6 bil in cash flow from operations in '09, up $4.0 bil, or 14.5 percent, from '08 & other financial results inlcuding a loss of 23 cents per share and adjusted earnings of 54 cents per share, compared with 4Q '08 EPS of 43 cents and 61 cents, respectively.

WalMartWMT: 1/28/10 8K re: business restructurings to leverage operating expenses consistent with its priorities of growth, leverage and returns. These include the closure of 10 Sam’s Clubs announced on 1/11/10, the elimination of Sam’s Club new business membership representatives, the new operations structure for Walmart U.S.; the integration of the Puerto Rican operations into Walmart U.S. and Sam’s Club.
The net impact from the charges for these business restructurings on 4Q earnings for fiscal year 2010 is estimated to be 0.04 per share. Walmart will announce fourth quarter earnings before the market opens on February 18, 2010.

12/8/09 10Q