2/18/10 Thurs. p.m. Dow Closes 10,392.90 up 83.66 or 0.81%

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Post #301 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.

The Dow Jones Industrial Average closed Thursday at 10,392.90 up 83.66 or 0.81% from Wednesday's close of 10,309.24. Of the 30 Dow Companies: 27 gained and 3 declined. The biggest gainer dollar-wise was IBM $127.81 +1.48 1.17% 5,522,872 NYSE and percentage-wise was Boeing BA $62.89 +1.07 1.73% 4,379,698 NYSE . The biggest decliner dollar-wise and percentage-wise was WalMart NYSE.

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. Journal is 0.132319125 unchanged, the trailing P/E ratio is 16.26 up from Wednesday morning's 16.19 (year ago it was 17.94) the P/E estimate is 12.85 unchanged from Wednesday's 12.85 (year ago it was 12.00) and the current dividend yield is 2.65 unchanged from Wednesday's 2.65 (it was 4.15 a year ago).

Thursday's Dow Jones Industrial Average closing numerator was 1375.18 up 11.07 from Wednesday's closing Dow numerator of 1,364.11. 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 11.07 for Thursday by the divisor you get the increase in Thursday's Dow close of 83.66. 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 thursday's Dow Jones Industrial Average was $45.84 up 0.37 from Wednesday's Dow Jones Industrial Average closing price of $45.47. The median closing price of Thursday's Dow Jones Industrial Average was 39.73 up 0.18 from Wednesday's median closing price of 39.55. The lowest volume was 3M MMM $81.11 +0.97 1.21% 2,700,496 NYSE and the highest volume again was Bank of America BAC $15.88 +0.22 1.4% 240,008,961 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 made $1,110 ($137,520 - $136,410).

Market Watch 2/18/10 3:40 p.m. says Travelers, H-P, Wal-Mart highlight afternoon action -Stocks rise as U.S. economic data holds sway by Donna Kardos Yesalavich, Kristina Peterson, says U.S. stocks rose Thursday, with industrials and materials leading the climb as investors shrugged off disappointing economic data to focus on company earnings. The Standard & Poor's 500-stock (SPX 1,107, +7.24, +0.66%) index climbed 0.7%, helped by a 1.1% gain in its materials sector as metals futures recovered from sharp drops in the wake of the International Monetary Fund's announcement on Wednesday night that it will sell 191.3 metric tons of gold on the open market rather than to central banks. Gold futures rose Thursday afternoon. The materials sector was also lifted by an upgrade from Bank of America Merrill Lynch of steel products maker Nucor Corp. (NUE 43.00, -0.62, -1.42%) to "neutral" from "underperform." The firm cited an increased steel price view. Nucor jumped 2.2%. The Nasdaq Composite (COMP 2,242, +15.42, +0.69%) rose 0.7%. Movers and shakers
The Dow average was helped by shares in insurer Travelers Cos.(TRV 52.79, +0.05, +0.09%) , which rose 2.1%, and Bank of America Corp. (BAC 15.65, -0.23, -1.45%) , up 1.5%. The Dow's technology components climbed. Hewlett-Packard Co. (HPQ 50.39, -0.42, -0.83%) rose 1% after posting a 25% increase in its first-quarter earnings. The computer maker also boosted its revenue outlook for the fiscal year. Meanwhile, Microsoft Corp. (MSFT 28.66, -0.31, -1.07%) shares gained 1.3% after the U.S. Department of Justice and European Commission cleared its proposed Internet search alliance with Yahoo Inc. (YHOO 15.31, -0.23, -1.48%) in a partnership the two companies hope will challenge Google Inc. (GOOG 539.60, -3.62, -0.67%) . Yahoo was recently up 0.4%, while Google rose 1.1%. Wal-Mart Stores Inc. (WMT 53.20, -0.27, -0.51%) weighed on the Dow with a 1.5% drop. The discount-retail chain posted a 22% gain in fourth-quarter profit but provided tepid first-quarter earnings guidance. In addition, Wal-Mart's sales at U.S. stores open more than a year fell. Read more on Wal-Mart. Investors brushed aside a pair of disappointing economic reports that limited gains earlier in the session. The Labor Department's weekly report showed initial claims for jobless benefits last week increased more than economists expected. Read more on jobless claims. Crude-oil futures held earlier gains Thursday, approaching $79 per barrel, after key weekly U.S. inventory data showed distillate stocks fell more than anticipated. The dollar strengthened against the yen, but weakened against the euro. Treasurys declined, with the 10-year note off 17/32 to yield 3.803%.


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

AT&T T $25.24 -0.16 0.63% 26,993,467 NYSE
Alcoa AA $13.61 +0.01 0.07% 27,378,334 NYSE
American Express AXP $39.15 +0.10 0.26% 6,852,698 NYSE
Bank of America BAC $15.88 +0.22 1.4% 240,008,961 NYSE
Boeing BA $62.89 +1.07 1.73% 4,379,698 NYSE
Caterpillar CAT $57.81 +0.31 0.54% 6,836,840 NYSE
Chevron CVX $73.62 +0.78 1.07% 9,840,518 NYSE
Cisco CSCO $24.28 +0.21 0.87% 41,117,663 NASDAQ-GS
Coca-Cola KO $55.91 +0.58 1.05% 8,621,354 NYSE
DuPont DD $33.62 +0.49 1.48% 6,116,095 NYSE
Disney DIS $31.02 +0.16 0.52% 8,203,203 NYSE
ExxonMobil XOM $65.96 +0.20 0.3% 22,515,373 NYSE
GE $16.24 +0.09 0.56% 47,193,137 NYSE
Hewlett-Packard HPQ $50.81 +0.69 1.38% 23,454,244 NYSE
Home Depot HD $30.3 +0.28 0.93% 16,480,788 NYSE
Intel INTC $20.84 +0.18 0.87% 42,507,738 NASDAQ-GS
IBM $127.81 +1.48 1.17% 5,522,872 NYSE
J.P.MorganChase JPM $40.41 +0.37 0.92% 31,722,637 NYSE
Johnson & Johnson JNJ $64.53 +0.55 0.86% 8,238,738 NYSE
Kraft KFT $28.81 +0.18 0.63% 20,606,450 NYSE
McDonald's MCD $64.48 +0.22 0.34% 4,975,620 NYSE
Merck MRK $37.29 -0.05 0.13% 12,346,665 NYSE
Microsoft MSFT $28.969 +0.379 1.33% 42,790,552 NASDAQ-GS
Pfizer PFE $17.73 +0.06 0.34% 57,072,686 NYSE
Procter & Gamble PG $63.39 +0.54 0.86% 17,662,426 NYSE
3M MMM $81.11 +0.97 1.21% 2,700,496 NYSE
Travelers TRV $52.74 +0.99 1.91% 4,577,578 NYSE
United Technologies UTX $68.11 +0.76 1.13% 4,124,602 NYSE
Verizon VZ $29.15 +0.01 0.03% 11,175,937 NYSE
WalMart WMT $53.47 -0.59 1.09% 29,447,286 NYSE

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The following are excerpts from Thursday morning's Blog:

A read of Thursday's print editions of: The Wall Street Journal, Financial Times, Investor's Business Daily, The New York Times, USA Today,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 stock prices and related data.

Dow: The Dow Jones Industrial Average closed Wednesday at 10,309.24 up 40.43 or 0.39% from Tuesday's close of 10,268.81. Of the 30 Dow Companies: 19 gained and 11 declined. Year to date the Dow Jones Industrial Average is down 1.14%. The biggest gainer dollar-wise was IBM $126.33 +1.10 0.88% 5,827,357 NYSE and percentage-wise was Bank of America BAC $15.66 +0.50 3.3% 261,541,836 NYSE . The biggest decliner dollar-wise and percentage-wise was American Express AXP $39.05- 0.57 1.44% 9,849,997 NYSE.

WSJ pC1 "Dollar Gains, Dow Follows, Rising 40.43" by Peter A. McKay, Tom Lauricella says good news on the US economy and signals that the Fed. Reserve may be moving closer to tightening monetary policy gave the dollar a renewed boost. Stocks and commodities also rose, in contrast to many sessions in recent months where those markets would move in the opposite direction of the dollar.

WSJ pC5 "Whole Foods jumps: Home Depot Rises 2%" by Donna Kardos Yesalavich says stocks edged higher as improving housing data lifted Home Depot and other housing related firms. Better than expected quarterly earnings from Deere and Whole Foods Market also helped to boost sentiment. The Dow closed at its highest close since Jan. 21. Bank of America was its best performer.

Fin Times p22 "Rally extended as economic figures add to confidence" by Masa Serdarevic says encouraging Jan housing starts, better than expected earnings and receding fears on the European sovereign debt situation helped boost risk appetite yesterday and prompted Wall St. stocks moderately higher for the second consecutive session. Jan industrial production figures from the US Fed. Res. were also better than expected. Output from factories, mines and utilities rose 0.9% following a 0.7% increase in Dec. Retailers at the value end of the market performed well including Walmart, Target and Kohl, all moved up. Microsoft was up 0.9%, as Hewlett-Packard gained 1.4%. Merck fell 0.9% and Pfizer lost 0.3%. Deere jumped 5% after reporting good 1Q earnings while rival machinery producer Caterpillar improved 0.7%.

Inv. Bus. Daily pA1 "Indexes Add to Recent Gains, But Volume is Mixed" by Paul Whitfield says stocks posted more gains Wed. as the market continued its fledgling advance. The action was up in mixed volume and the current outlook is the market is in a correction.

NYT pB11 "Shares Improve on Growing Signs of a Recovery" by Javier C. Hernandez says Wall St. investors, buoyed by signs of stability in the housing and manufacturing sectors, seemed optimistic about the speed of economic renewal on Wed. as worries about mounting debt burdens abroad began to subside.

USA Today p1B" Has Market correction run course" by Adam Shell says the stock market which last week looked like it was on its way to its first 10% drop since the monster rally began in march, is going up again. The rebound has Wall St. askingif the correction is over? The DJIA is down 7.6% from 1/19 to 2/8 and is down 3.9% from its '10 high.

USA Today p4B "Stocks increase on rising confidence" by Bloomberg says US stocks advanced again Wed, a day after the biggest rally since Nov. for the S&P 500 index, as better than estimated earnings, industrial production and housing data bolstered confidence in the economic recovery.

Wednesday's Dow Jones Industrial Average closing numerator was 1364.11 up 5.35 from Tuesday's closing Dow numerator of 1,358.76. 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 5.35 for Wednesday by the divisor you get the increase in Wednesday's Dow close of 40.43. 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 Wednesday's Dow Jones Industrial Average was $45.47 up 0.18 from Tuesday's Dow Jones Industrial Average closing price of $45.29. The median closing price of Wednesday's Dow Jones Industrial Average was 39.55 down 0.50 from Tuesday's median closing price of 40.05. The lowest volume was 3M MMM $80.14 -0.33 0.41% 3,095,120 NYSE and the highest volume again was Bank of America BAC $15.66 +0.50 3.3% 261,541,836 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 $640 ($136,410 - $135,870).

MarketWatch By Peter McKay Wed. 4:31 pm says U.S. stocks get lift from U.S. housing data, recent earnings. U.S. stocks surge on U.S. data, Europe confidence. U.S. stocks posted a second-straight gain Wednesday, boosted by strong profit reports and economic data that reinforced investors' newfound preference for the U.S. over Europe as a venue to put their money to work. That attitude also boosted the dollar, marking a rare instance of the currency rallying in tandem with stocks and some commodities, notably oil. The gains were limited, but investors were happy for whatever they could get, considering the recent trend in which strength in the greenback has often signaled an appetite for safe havens. The Dow Jones Industrial Average (INDU 10,309, +40.51, +0.39%) rose 40.43 points, or 0.4%, to 10,309.24, putting its two-day gain at 210 points. The S&P 500 (SPX 1,100, +4.64, +0.42%) posted a 0.4% gain, with its consumer and health-care categories leading the way.
Whole Foods Market Inc.'s (WFMI 34.25, -0.10, -0.29%) shares helped boost the consumer-staples sector. The grocer's stock jumped nearly 13% after reporting a 71% rise in fiscal first-quarter profit, topping Wall Street expectations. Deere Co. (DE 56.45, -0.03, -0.05%) shares rose 5% after it posted a surprise 19% rise in earnings that beat market expectations. Deere also lifted its profit forecast for the year. The Nasdaq Composite (COMP 2,226, +12.10, +0.55%) and the Russell 2000 gained 0.6% each. Heavy debt loads of some of the euro bloc's 16 members remained a source of concern, however, after Italy's audit court said derivative contracts taken out by Italian municipalities could jeopardize local public finances for decades. Amid the worries, the euro turned lower against the dollar. One euro cost $1.3609, down from $1.3769 late Tuesday. The U.S. Dollar Index (DXY 80.57, +0.19, +0.24%) gained 0.9%. Market watchers said they expect the euro zone would do what is necessary to protect the common currency and the countries bound together by it.
In the U.S., the minutes of the Federal Reserve rate committee's January meeting showed officials were slightly more confident that a recovery is taking hold. They also plotted an exit from their longstanding easy-money policies. Though traders aren't thrilled that tighter Fed policy may be on the way, they've generally accepted it as a byproduct of a welcome upturn in the U.S. economy. On the Dow, Bank of America Corp.(BAC 15.63, -0.03, -0.19%) was the measure's best performer, extending its gains from Tuesday with a 3.3% rise. Home Depot Inc. (HD 30.00, -0.02, -0.07%) added 2%, as housing starts rose to their highest level in six months, while Caterpillar Inc. (CAT 57.56, +0.06, +0.10%) advanced 0.7% as a report on industrial production topped expectations. Humana Inc. (HUM 46.66, +0.02, +0.04%) among the health-care sector's gainers on the S&P 500. The health insurer's shares rose 1.4% after it said it would shed nearly 1,400 jobs, or 5% of its work force, this year. Toyota Motor Corp. (TM 74.60, +0.45, +0.61%) shares slipped 2.5% after saying it was looking into complaints about possible mechanical issues with its Corolla model. In other markets, Treasury prices dropped, with the 10-year note off 21/32 to yield 3.742%. Crude-oil futures edged up to $77.33 a barrel, while the April gold contract topped $1,120 per ounce in New York.

AT&T T $25.4 +0.08 0.32% 19,506,412 NYSE: No mentions found.

Alcoa AA $13.6 -0.14 1.02% 26,052,728 NYSE: No mentions found.

American Express AXP $39.05- 0.57 1.44% 9,849,997 NYSE: No mentions found.

Bank of America BAC $15.66 +0.50 3.3% 261,541,836 NYSE: WSJ pC5 "Whole Foods jumps: Home Depot Rises 2%" by Donna Kardos Yesalavich says stocks edged higher as improving housing data lifted Home Depot and other housing related firms. Better than expected quarterly earnings from Deere and Whole Foods Market also helped to boost sentiment. The Dow closed at its highest close since Jan. 21. Bank of America was its best performer.

WSJ pC1 "SEC Clashes With Cuomo Over Firing In BofA Case" by Kara Scannell, Dan Fitzpatrick says the SEC in a court filing said the Dec. '08 firing of BofA's general counsel had nothing to do with his opinion about ballooning losses at Merrill Lynch just before BofA took over the giant bank. This contradicts NY AG's Andrew Cuomo's allegations. US dist. Ct. Judge Jed Rakoff said he plans to issue a ruling by Mon on a proposed $150 mil settlement that would end a lawsuit filed against BofA by the DEC.

WSJ pC3 "When No News is Good News" by Dan Fitzpatrick, Kara Scannell says BofA had already drafted a news release in DEC '08 announcing Brian Moynihan was leaving BoFA which was filed in the SEC case where the judge is considering a $150 mil settlement. Moynihan was later selected as BofA's CEO to replace Ken Lewis.

WSJ pC5 "Optins Report" by Tennille Tracy says traders looked for ways to reduce the cost of buying options, using spreads yesterday and this strategy was used with Bank of America and Citigroup.

Boeing BA $61.82+ 0.56 0.91% 4,116,171 NYSE: No mentions found.

Caterpillar CAT $57.5 +0.38 0.67% 8,454,108 NYSE: Fin Times p22 "Rally extended as economic figures add to confidence" by Masa Serdarevic says encouraging Jan housing starts, better than expected earnings and receding fears on the European sovereign debt situation helped boost risk appetite yesterday and prompted Wall St. stocks moderately higher for the second consecutive session. Jan industrial production figures from the US Fed. Res. were also better than expected. Output from factories, mines and utilities rose 0.9% following a 0.7% increase in Dec. Retailers at the value end of the market performed well including Walmart, Target and Kohl, all moved up. Microsoft was up 0.9%, as Hewlett-Packard gained 1.4%. Merck fell 0.9% and Pfizer lost 0.3%. Deere jumped 5% after reporting good 1Q earnings while rival machinery producer Caterpillar improved 0.7%.

Chevron CVX $72.84 -0.15 0.21% 8,728,002 NYSE: No mentions found.

Cisco CSCO $24.07 +0.07 0.29% 48,507,156 NASDAQ-GS: WSJ pB3 "H-P Earnings Jump 25% on Strong Computer Sales" by Justin Scheck, INV.bus. Daily "HP Beats Q1 Forecasts, Raises Guidance say HPQ's quarterly profit jumped 25% amid surging computer sales, the latest signal that the tech spending crunch is over and raising expectations for rival Dell which reports results today. HP's fiscal year rev goal was boosted by HP to $122.5 bil from $121.5 bil. HP is the world's largest maker of computers, and it reported its global PC unit shipmnts jumped 26% in its quarter as consumers bought computers running Windows 7, the newest version of Microsoft's software. HP's quarterly rev totaled $31.18 bil, up 8.2% from $28.81 bil a year earlier. its profit rose to $2.32 bil or 96 cents a share, up from $1.86 bil or 75 cents a share a year earlier. HP's positive earnings come 2 weeks after rival Cisco reported rev growth for the first time since early '09. HP is the world's largest tech firm by sales, bosting a broad mix of computers, storage, printers, software and services. Other industry bellwethers Intel, IBM and Cisco Systems have also posted recent positive earnings. On Mon, HP got approval from European regulators to buy 3Com, a maker of network gear, for $2.7 bil.

Coca-Cola KO $55.33 +0.51 0.93% 8,532,286 NYSE: AJc pA16 "Prospects strong for CCE" by Jeremiah McWilliams says the ceo of the world's biggest bottler of Coke beverages, John Brock, said CCE's prospects are strong on both sides of the Atlanta as it increased its regular quarterly dividend by 12% to 9 cents a share. KO owns part of CCE.

Disney DIS $30.86 +0.39 1.28% 9,768,588 NYSE: No mentions found.

DuPont DD $33.13 +0.39 1.19% 6,940,951 NYSE: No mentions found.

ExxonMobil XOM $65.76 -0.52 0.78% 21,822,728 NYSE: WSJ pB6 "Russian Pipeline Raises Competition in Asia" by Guy Chazan says Mideast oil firms are scrambling to protect their market share in Asia amid rising competition from a new source of supply, an oil blend from Russia called East Siberian Pacific Ocean pipeline or ESPO which is is a pipeline through which this blend is delivered to Asian markets. US refiner Tesoro and Exxon Mobil have both bought ESPO crude.

Inv. Bus. Daily "Buffett's Plays May Be Wroth Your Attention" by Patrick Cain says Buffett's Berkshire Hathaway's recent SEC filing revealed that it lowered its stakes in ConocoPhillips, Exxon Mobil, Johnson & Johnson, and Procter & Gamble in the fourth quarter. These stocks ahve dividend yields of 4%, 2.5%, 3.1%, and 2.8%, respectively. Buffet likes Walmart which has a dividend yield of 2%.

NYT pB2 "Barrels in Reserve But Harder to Get" says with oil majros given the cold shoulder in many developing nations, it is no mean feat that Exxon Mobil managed to repalce 100% of last year's production with new reserves.

GE $16.15 +0.11 0.69% 60,553,867 NYSE: AJC pA16 says GE's energy division, based in Atlanta, said it will sell $200 mil in turbines to Irag. GE will supply six gas turbine generators with a capacity of 750 megawatts.

Hewlett-Packard HPQ $50.12 +0.68 1.38% 23,481,276 NYSE: WSJ pB3 "H-P Earnings Jump 25% on Strong Computer Sales" by Justin Scheck, Inv. Bus. Daily "HP Beats Q1 Forecasts, Raises Guidance, NYT pB9 & USA Today p1B say HPQ's quarterly profit jumped 25% amid surging computer sales, the latest signal that the tech spending crunch is over and raising expectations for rival Dell which reports results today. HP's fiscal year rev goal was boosted by HP to $122.5 bil from $121.5 bil. HP is the world's largest maker of computers, and it reported its global PC unit shipmnts jumped 26% in its quarter as consumers bought computers running Windows 7, the newest version of Microsoft's software. HP's quarterly rev totaled $31.18 bil, up 8.2% from $28.81 bil a year earlier. its profit rose to $2.32 bil or 96 cents a share, up from $1.86 bil or 75 cents a share a year earlier. HP's positive earnings come 2 weeks after rival Cisco reported rev growth for the first time since early '09. HP is the world's largest tech firm by sales, bosting a broad mix of computers, storage, printers, software and services. Other industry bellwethers Intel, IBM and Cisco Systems have also posted recent positive earnings. On Mon, HP got approval from European regulators to buy 3Com, a maker of network gear, for $2.7 bil.

WSJ pB1 "PC Makers Ready iPad Rivals" by Justin Scheck, Nick Wingfield says computer makers are developing strategies and devices to challenge Apple Inc.'s iPad, hoping to capitalize on new interest in a category of gadgets thzt was moribund until recently. HewlettPpackard will meet in the US and Taiwan to tweak prices and features on an upcoming keyboardless computer called the Slate. It is similar to the iPad in size and features, and includes a cellular connection and will sell below the cost of an iPad which is $629. Microsoft has a secret team working on a two screen table device.

Home Depot HD $30.02 +0.58 1.97% 21,524,574 NYSE: WSJ pC5 "Whole Foods jumps: Home Depot Rises 2%" by Donna Kardos Yesalavich says stocks edged higher as improving housing data lifted Home Depot and other housing related firms. Better than expected quarterly earnings from Deere and Whole Foods Market also helped to boost sentiment. The Dow closed at its highest close since Jan. 21. Bank of America was its best performer.

Intel INTC $20.66 -0.06 0.29% 47,296,651 NASDAQ-GS: WSJ pB3 "H-P Earnings Jump 25% on Strong Computer Sales" by Justin Scheck, INV.bus. Daily "HP Beats Q1 Foreasts, Raises Guidance say HPQ's quarterly profit jumped 25% amid surging computer sales, the latest signal that the tech spending crunch is over and raising expectations for rival Dell which reports results today. HP's fiscal year rev goal was boosted by HP to $122.5 bil from $121.5 bil. HP is the world's largest maker of computers, and it reported its global PC unit shipmnts jumped 26% in its quarter as consumers bought computers running Windows 7, the newest version of Microsoft's software. HP's quarterly rev totaled $31.18 bil, up 8.2% from $28.81 bil a year earlier. its profit rose to $2.32 bil or 96 cents a share, up from $1.86 bil or 75 cents a share a year earlier. HP's positive earnings come 2 weeks after rival Cisco reported rev growth for the first time since early '09. HP is the world's largest tech firm by sales, boasting a broad mix of computers, storage, printers, software and services. Other industry bellwethers Intel, IBM and Cisco Systems have also posted recent positive earnings. On Mon, HP got approval from European regulators to buy 3Com, a maker of network gear, for $2.7 bil.

IBM $126.33 +1.10 0.88% 5,827,357 NYSE: WSJ pB3 "H-P Earnings Jump 25% on Strong Computer Sales" by Justin Scheck, INV.bus. Daily "HP Beats Q1 Foreasts, Raises Guidance say HPQ's quarterly profit jumped 25% amid surging computer sales, the latest signal that the tech spending crunch is over and raising expectations for rival Dell which reports results today. HP's fiscal year rev goal was boosted by HP to $122.5 bil from $121.5 bil. HP is the world's largest maker of computers, and it reported its global PC unit shipments jumped 26% in its quarter as consumers bought computers running Windows 7, the newest version of Microsoft's software. HP's quarterly rev totaled $31.18 bil, up 8.2% from $28.81 bil a year earlier. its profit rose to $2.32 bil or 96 cents a share, up from $1.86 bil or 75 cents a share a year earlier. HP's positive earnings come 2 weeks after rival Cisco reported rev growth for the first time since early '09. HP is the world's largest tech firm by sales, bosting a broad mix of computers, storage, printers, software and services. Other industry bellwethers Intel, IBM and Cisco Systems have also posted recent positive earnings. On Mon, HP got approval from European regulators to buy 3Com, a maker of network gear, for $2.7 bil.

J.P.Morgan Chase JPM $40.04 -0.03 0.07% 34,650,608 NYSE: Fin Times p12 "Regulatory Overkill" says JPMorgan researchers have totted up the potential total cost of the regulatory initiatives now targeting the world's big banks and says the reforms cold reduce the profitability of the bank model by 60%.

Johnson & Johnson JNJ $63.98 +0.37 0.58% 9,485,408 NYSE: WSJ pB4 "J&J to Cut Bonus Targets for Some" by Jonathan D. Rockoff says J&J plans to cut the yearly performance bonus maximum for 38% of its employees and freeze salaries for certain workers to standardize compensation across its various businesses and regions, thereby making it easier for its workers to move around within the firm. J&J reported a 19% drop in 4Q earnings, largely because of charges related to cost reduction as it said it wold eliminate 8,200 jobs, mostly overseas.

Inv. Bus. Daily "Buffett's Plays May Be Wroth Your Attention" by Patrick Cain says Buffett's Berkshire Hathaway's recent SEC filing revealed that it lowered its stakes in ConocoPhillips, Exxon Mobil, Johnson & Johnson, and Procter & Gamble in the fourth quarter. These stocks have dividend yields of 4%, 2.5%, 3.1%, and 2.8%, respectively. Buffet likes Walmart which has a dividend yield of 2%.

Kraft KFT $28.63 -0.34 1.17% 24,839,413 NYSE: No mentions found.

McDonald's MCD $64.26 +0.25 0.39% 5,424,589 NYSE: No mentions found.

Merck MRK $37.34 -0.32 0.85% 11,961,247 NYSE: WSJ pA3 "Hackers Mount New Strike" by Siobhan Gorman says Hackers in Europe and China broke into computers at 2,400 firms and gov agencies in the last 18 months including Merck & Co.

Fin Times p22 "Rally extended as economic figures add to confidence" by Masa Serdarevic says encouraging Jan housing starts, better than expected earnings and receding fears on the European sovereign debt situation helped boost risk appetite yesterday and prompted Wall St. stocks moderately higher for the second consecutive session. Jan industrial production figures from the US Fed. Res. were also better than expected. Output from factories, mines and utilities rose 0.9% following a 0.7% increase in Dec. Retailers at the value end of the market performed well including Walmart, Target and Kohl, all moved up. Microsoft was up 0.9%, as Hewlett-Packard gained 1.4%. Merck fell 0.9% and Pfizer lost 0.3%. Deere jumped 5% after reporting good 1Q earnings while rival machinery producer Caterpillar improved 0.7%.

Microsoft MSFT $28.59 +0.24 0.85% 45,882,842 NASDAQ-GS: WSJ pB1 "PC Makers Ready iPad Rivals" by Justin Scheck, Nick Wingfield says computer makers are developing strategies and devices to challenge Apple Inc.'s iPad, hoping to capitalize on new interest in a category of gadgets thzt was moribund until recently. HewlettPpackard will meet in the US and Taiwan to tweak prices and features on an upcoming keyboardless computer called the Slate. It is similar to the iPad in size and features, and includes a cellular connection and will sell below the cost of an iPad which is $629. Microsoft has a secret team working on a two screen table device.

WSJ pB3 "H-P Earnings Jump 25% on Strong Computer Sales" by Justin Scheck says HPQ's quarterly profit jumped 25% amid surging computer sales, the latest signal that the tech spending crunch is over and raising expectations for rival Dell which reports results today. HP's fiscal year rev goal was boosted by HP to $122.5 bil from $121.5 bil. HP is the world's largest maker of computers, and it reported its global PC unit shipments jumped 26% in its quarter as consumers bought computers running Windows 7, the newest version of Microsoft's software. HP's quarterly rev totaled $31.18 bil, up 8.2% from $28.81 bil a year earlier. its profit rose to $2.32 bil or 96 cents a share, up from $1.86 bil or 75 cents a share a year earlier. HP's positive earnings come 2 weeks after rival Cisco reported rev growth for the first time since early '09.

Fin Times p22 "Rally extended as economic figures add to confidence" by Masa Serdarevic says encouraging Jan housing starts, better than expected earnings and receding fears on the European sovereign debt situation helped boost risk appetite yesterday and prompted Wall St. stocks moderately higher for the second consecutive session. Jan industrial production figures from the US Fed. Res. were also better than expected. Output from factories, mines and utilities rose 0.9% following a 0.7% increase in Dec. Retailers at the value end of the market performed well including Walmart, Target and Kohl, all moved up. Microsoft was up 0.9%, as Hewlett-Packard gained 1.4%. Merck fell 0.9% and Pfizer lost 0.3%. Deere jumped 5% after reporting good 1Q earnings while rival machinery producer Caterpillar improved 0.7%.

Inv. Bus. Daily pA2 says Microsoft is taking a step toward turning its email program, Outlook, into a hub for information form popular social networking sites like Facebook. When a user clicks to read an email, up pops the sender's most recent socal networking activities.

Inv. Bus. Daily pA5 "Sezmi Enters The Picture As Video Services Provider" by Brian Deagon says Sezmi enters a crowded field competing with Microsoft's Xbox platform as Sezmi backed by $100 mil financing is launching its first video service.

Pfizer PFE $17.67 -0.05 0.28% 58,260,429 NYSE: Fin Times p22 "Rally extended as economic figures add to confidence" by Masa Serdarevic says encouraging Jan housing starts, better than expected earnings and receding fears on the European sovereign debt situation helped boost risk appetite yesterday and prompted Wall St. stocks moderately higher for the second consecutive session. Jan industrial production figures from the US Fed. Res. were also better than expected. Output from factories, mines and utilities rose 0.9% following a 0.7% increase in Dec. Retailers at the value end of the market performed well including Walmart, Target and Kohl, all moved up. Microsoft was up 0.9%, as Hewlett-Packard gained 1.4%. Merck fell 0.9% and Pfizer lost 0.3%. Deere jumped 5% after reporting good 1Q earnings while rival machinery producer Caterpillar improved 0.7%.

Procter & Gamble PG $62.85 +0.02 0.03% 14,384,373 NYSE: Inv. Bus. Daily "Buffett's Plays May Be Wroth Your Attention" by Patrick Cain says Buffett's Berkshire Hathaway's recent SEC filing revealed that it lowered its stakes in ConocoPhillips, Exxon Mobil, Johnson & Johnson, and Procter & Gamble in the fourth quarter. These stocks ahve dividend yields of 4%, 2.5%, 3.1%, and 2.8%, respectively. Buffet likes Walmart which has a dividend yield of 2%.

3M MMM $80.14 -0.33 0.41% 3,095,120 NYSE: No mentions found.

Travelers TRV $51.75 +0.14 0.27% 4,512,749 NYSE: No mentions found.

United Technologies UTX $67.35 +1.02 1.54% 5,988,692 NYSE: No mentions found.

Verizon VZ $29.14 -0.04 0.14% 13,421,278 NYSE: No mentions found.

WalMart WMT $54.06 +0.50 0.93% 15,534,113 NYSE: WSJ pC1 "Did WalMart's Price Cuts Help Bag Sales" by Miguel Bustillo says WalMart cut prices on best selling books, movies and videos during the holidays and now investors are about to find out if all the publicity about these price cuts snapped up extra sales as it reports 4Q results today. WalMart predicted earnings per share of $1.08 to 1.12 above last year's 1.03. The consensus among analysts is 1.12.

Fin Times p22 "Rally extended as economic figures add to confidence" by Masa Serdarevic says encouraging Jan housing starts, better than expected earnings and receding fears on the European sovereign debt situation helped boost risk appetite yesterday and prompted Wall St. stocks moderately higher for the second consecutive session. Jan industrial production figures from the US Fed. Res. were also better than expected. Output from factories, mines and utilities rose 0.9% following a 0.7% increase in Dec. Retailers at the value end of the market performed well including Walmart, Target and Kohl, all moved up. Microsoft was up 0.9%, as Hewlett-Packard gained 1.4%. Merck fell 0.9% and Pfizer lost 0.3%. Deere jumped 5% after reporting good 1Q earnings while rival machinery producer Catrepillar improved 0.7%.

Inv. Bus. Daily "Buffett's Plays May Be Wroth Your Attention" by Patrick Cain says Buffett's Berkshire Hathaway's recent SEC filing revealed that it lowered its stakes in ConocoPhillips, Exxon Mobil, Johnson & Johnson, and Procter & Gamble in the fourth quarter. These stocks ahve dividend yields of 4%, 2.5%, 3.1%, and 2.8%, respectively. Buffet likes Walmart which has a dividend yield of 2%.

**********************************
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