2/20/10 Sat. Boeing Lays off 1,000

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Post #304 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, Financial Times, (Monday's) Investor's Business Daily, The New York Times, & Atlanta Journal & Constitution 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 10,402.35 up 9.45 or 0.09% from Thursday's close of 10,392.90. Of the 30 Dow Companies: 15 gained, Bank of America was unchanged and 14 declined. For the week the Dow is up 303.35 from last Friday's close of 10,099. For the year the Dow is down .25%. The biggest gainer dollar-wise was Boeing BA $63.59 +0.70 1.11% 7,350,953 NYSE and percentage-wise was NYSE. The biggest decliner dollar-wise and percentage-wise was Pfizer PFE $17.99 +0.26 1.47% 50,531,811 NYSE.

Fin Times p14 "Positive analyst note helps to boost large US banks" by Masa Serdarevic says US equities continued the week's rally, shrugging off a sharp initial sell off in reaction to the Fed's announcement after the market' close on Thurs that it had raised its discount rate. Most banks mentioned in an analysts' note at Morgan Stanley moved higher except for JPMorgan Chase which retreated 0.9%. Walmart reported comparable store sales that failed to match expectations, but still rose 1% on the week.

WSJ pB1 "Stocks Rise; Dow Up 3.9% In Two Weeks" by Peer A. McKay,, Kristina Peterson says stocks edged higher to cap the best week performance in 3 months, as investors returned their focus to US economic policy.

WSJ p2 "Boeing Jumps, While Dell Slumps" by Kristina Peterson says US stocks rallied modestly as investors focused on the optimism under pinning he Fed reserve's discount rate increase and boosted such industrials as Boeing, while Pfizer climbed as a rival, United Therepeutics said it would to pull is European marketing applicaion for a high blood pressure treatment.

NYT pB6 "Reassured About Inflation, Investors Push Shares Higher" by Javier C. Hernandez says stocks were slightly higher Fri. as investors saw signs that inflation remmained subdued int he US. They eased anxiety over the Fed. Res's decision to increase an important interest rae.

Inv. Bus Daily "Stocks Near Neutral In Reaction to Fed" by Paul Whitfield says stocks settled slightly higher Fri in the first session following the Fed Reserve's surprise discount rate hike. The action was up in rising volume while the current outlook is the market is in correction.

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 16.26 up from Friday morning's 16.25 (year ago it was 17.51) the P/E estimate is 12.85 unchanged from Friday's 12.85 (year ago it was 11.16) and the current dividend yield is 2.62 down from Friday's 2.63 (it was 4.26 a year ago).

Friday's Dow Jones Industrial Average closing numerator was 1376.43 up 1.25 from Thursday's closing Dow numerator of 1,375.18. 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 1.25 for Friday by the divisor you get the increase in Friday's Dow close of 9.45. 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 $45.88 up 0.04 from Thurday's Dow Jones Industrial Average closing price of $45.84. The median closing price of Friday's Dow Jones Industrial Average was 39.54 down 0.19 from Thursday's median closing price of 39.73. The lowest volume was 3M MMM $81.52 +0.41 0.51% 3,207,166 NYSE and the highest volume again was Bank of America BAC $15.88 unch unch 201,173,733 NYSE 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 $123 ($137,643 - $137,520).

Market Watch 2/19/10 4:08 p.m. by Kate Gibson says U.S. stocks up for second week after Fed move; U.S. stocks on Friday finished higher for a second consecutive week, with investors finding little to fear from the Federal Reserve's decision to begin disassembling its emergency lending measures for banks.Up for a fourth straight session, the Dow Jones Industrial Average rose 9.45 points, or 0.1%, to 10,402.35, giving it a weekly gain of 3%. The S&P 500 Index (SPX 1,109, +2.42, +0.22%) climbed 2.42 points, or 0.2%, to 1,109.17, up 3.1% from the week-ago close. The Nasdaq Composite Index (COMP 2,244, +2.16, +0.10%) added 2.16 points, or 0.1%, to 2,243.87, leaving it 2.8% ahead for the week.

AT&T T $25.1 -0.14 0.55% 34,649,167 NYSE: Inv. Bus. Daily pA5 "Samsung, Panasonic, Acer, Atos Seek Olympic Branding Bold" by Patrick Seitz says hooking up with he Olympic games gives corporations a chance to be associated with a positive, uplifting universally respected event. The 2010 Winter Olympics in Vancouver, British Columbia has attracted a who's who of major sponsors including the following Dow components: Coca Cola, GE, McDonald's, Hewlett-Packard. Samsung isusing the Vancouver games to promote its Mythic phone which is available in the US through At&T. Acer, the world's No. 2 PC vendor behind Hewlett-Packard, is also a sponsor. Atos Origin has held the contract to be the info tech systems integrator for the games since '04 an has it until '16 games in Rio de Janeiro. The contract was previously held by IBM.

Alcoa AA $13.53 -0.08 0.59% 28,463,330 NYSE: No mentions found.

American Express AXP $39.06 -0.09 0.23% 9,321,645 NYSE: NYT pB1 "Swankier Cards that Cost More" by Eric Dash says in a new tack, banks are focusing on people who can better affford to pay. American Express has been testing a new Zync charge card since Cec modeled after the way iPhone users customize the device by choosing from a number of different packs such as offering double points on travel related purchases. There is a fee for these options.

The New Trap" by Robin Sidel says the law allows some aggressive lender tactics to continue. The new regulations, the Credit Card Accountability Responsibility and Disclosure Act of 2009, comes as banks are losing a lot of money from the credit card operations. Last year, Bank of America and JPMorgan Chase suffered combined net losses of $7.8 bil in their credit card operations. American Express which is known for its rewards programs, recently added new fees to some of its credit cards.

Bank of America BAC $15.88 unch unch 201,173,733 NYSE: WSJ pB7 "Credit-Card Fees: The New Trap" by Robin Sidel says the law allows some aggressive lender tactics to continue. The new regulations, the Credit Card Accountability Responsibility and Disclosure Act of 2009, comes as banks are losing a lot of money from the credit card operations. Last year, Bank of America and JPMorgan Chase suffered combined net losses of $7.8 bil in their credit card operations. American Express which is known for its rewards programs, recently added new fees to some of its credit cards.

Boeing BA $63.59 +0.70 1.11% 7,350,953 NYSE: WSJ pB6 "Airline Woes Press Jet Makers" by Daniel Michaels says airlines still face a cash squeeze that is forcing jet makers Airbus and Boeing to work harder to keep their factories busy. Airbus and Boeing have been able to avoid major production cutbacks by juggling orders and delaying airplane deliveries to many customers.

AJC pA11 "Boeing sends more than 1,000 layoff notices" most of them tech workers in Washington state and Cal. The layoffs are part of the 10,000 job cuts originally targeted for '09.

WSJ p2 "Boeing Jumps, While Dell Slumps" by Kristina Peterson says US stocks rallied modestly as investors focused on the optimism under pinning he Fed reserve's discount rate increase and boosted such industrials as Boeing, while Pfizer climbed as a rival, United Therepeutics said it would to pull is European marketing applicaion for a high blood pressure treatment.

Caterpillar CAT $58.25 +0.44 0.76% 7,970,560 NYSE: No mentions found.

Chevron CVX $74.05 +0.43 0.58% 13,070,207 NYSE: No mentions found.

Cisco CSCO $24.36 +0.08 0.33% 38,617,874 NASDAQ-GS: No mentions found.

Coca-Cola KO $55.72 -0.19 0.34% 9,441,783 NYSE: AJC pA10 "Coca-Cola quarterly dividend up 7%" says Coke has registered its 48th consecutive annudal dividend increae by raising the quarterly dividend from 41 cents to 44 cents per share, for an annual dividend of 1.76 per share compared to last year's 1.64 per share.

AJC pA10 "Coke official touts Latin American market" by Jeremiah MCwilliams says this region is best positioned to contribute growth to KO, the Pres. of KO's L.A. div, Jose Octavio eyes, said yesterday. Mexico is Coke's no. 2 market.

Inv. Bus. Daily pA5 "Samsung, Panasonic, Acer, Atos Seek Olympic Branding Bold" by Patrick Seitz says hooking up with he Olympic games gives corporations a chance to be associated with a positive, uplifting universally respected event. The 2010 Winter Olympics in Vancouver, British Columbia has attracted a who's who of major sponsors including the following Dow components: Coca Cola, GE, McDonald's, Hewlett-Packard. Samsung isusing the Vancouver games to promote its Mythic phone which is available in the US through At&T. Acer, the world's No. 2 PC vendor behind Hewlett-Packard, is also a sponsor. Atos Origin has held the contract to be the info tech systems integrator for the games since '04 an has it until '16 games in Rio de Janeiro. The contract was previously held by IBM.

DuPont DD $34.03 +0.41 1.22% 6,997,992 NYSE: No mentions found.

Disney DIS $31.23 +0.21 0.68% 12,566,518 NYSE: No mentions found.

ExxonMobil XOM $65.87 -0.09 0.14% 24,186,332 NYSE:

GE $16.17 -0.07 0.43% 65,057,748 NYSE: AJC pA11 "GE's work force fell by 6% in '09" as GE struggled to deal with the recession. It reduced its head county by 19,000 to 304,000 workers. Biggest hit was its GE Capial lending unit, which lost 25% of its workers.

Hewlett-Packard HPQ $50.79 -0.02 0.04% 16,616,950 NYSE: Inv. Bus. Daily pA5 "Samsung, Panasonic, Acer, Atos Seek Olympic Branding Bold" by Patrick Seitz says hooking up with he Olympic games gives corporations a chance to be associated with a positive, uplifting universally respected event. The 2010 Winter Olympics in Vancouver, British Columbia has attracted a who's who of major sponsors including the following Dow components: Coca Cola, GE, McDonald's, Hewlett-Packard. Samsung isusing the Vancouver games to promote its Mythic phone which is available in the US through At&T. Acer, the world's No. 2 PC vendor behind Hewlett-Packard, is also a sponsor. Atos Origin has held the contract to be the info tech systems integrator for the games since '04 an has it until '16 games in Rio de Janeiro. The contract was previously held by IBM.

Home Depot HD $30.15 -0.15 0.5% 18,491,876 NYSE: No mentions found.

Intel INTC $20.82 -0.02 0.1% 40,677,453 NASDAQ-GS: No mentions found.

IBM $127.19 -0.62 0.49% 6,289,524 NYSE: Inv. Bus. Daily pA5 "Samsung, Panasonic, Acer, Atos Seek Olympic Branding Bold" by Patrick Seitz says hooking up with he Olympic games gives corporations a chance to be associated with a positive, uplifting universally respected event. The 2010 Winter Olympics in Vancouver, British Columbia has attracted a who's who of major sponsors including the following Dow components: Coca Cola, GE, McDonald's, Hewlett-Packard. Samsung isusing the Vancouver games to promote its Mythic phone which is available in the US through At&T. Acer, the world's No. 2 PC vendor behind Hewlett-Packard, is also a sponsor. Atos Origin has held the contract to be the info tech systems integrator for the games since '04 an has it until '16 games in Rio de Janeiro. The contract was previously held by IBM.

J.P.Morgan Chase JPM $40.03 -0.38 0.94% 39,827,736 NYSE: WSJ pB1 "Jude Slams JPMorgan Over Loan" by Michael Corkery, Nicholas Casey says a fed judge has rebuked JPM for aking par is wha he called a sha in the way it aranged a $225 mil loan deal for a Mexican telecom firm Empresas Cablevision S.A.B. de CV.

Johnson & Johnson JNJ $63.81 -0.72 1.12% 14,192,712 NYSE: WSJ pB6 "J&J Ceds Drug Rights To Small Swiss Partner" by Julia Mengewein, Inv. Bus Daily pA2 "J&J dips on EU rejection of drug", AJC pA11 "Johnson & Johnson out of drug partnership" say the partnership was supposed to develop a highly touted drug for MRSA and other skin infecgtions, afgter European regulators rejected it over concerns that data from tests by J&J aren't reliable. Switzerland's Basilea Pharmaceutica discovered the antibiotic compound, called ceftobiprole and the two firms had been working together.

Kraft KFT $28.92 +0.11 0.38% 14,936,544 NYSE: No mentions found.

McDonald's MCD $64.74 +0.26 0.4% 5,568,258 NYSE: Inv. Bus. Daily pA5 "Samsung, Panasonic, Acer, Atos Seek Olympic Branding Bold" by Patrick Seitz says hooking up with he Olympic games gives corporations a chance to be associated with a positive, uplifting universally respected event. The 2010 Winter Olympics in Vancouver, British Columbia has attracted a who's who of major sponsors including the following Dow components: Coca Cola, GE, McDonald's, Hewlett-Packard. Samsung isusing the Vancouver games to promote its Mythic phone which is available in the US through At&T. Acer, the world's No. 2 PC vendor behind Hewlett-Packard, is also a sponsor. Atos Origin has held the contract to be the info tech systems integrator for the games since '04 an has it until '16 games in Rio de Janeiro. The contract was previously held by IBM.

Merck MRK $37.49 +0.20 0.54% 12,002,167 NYSE: Inv. Bus Daily pA8 "Pharma's Mega Deals No Tonic for R&d" by Peer Benesh says he wave of giant biopharma mergers that hit in '09 will continue in the years ahead. There was no increased productivity from R&D in the majjor consolidations of a decade ago. Damien Conover, an analyst at Morningstar said he didn't think there will be ore products coming out of Prizer after is acquisition of Wyeth or Merck after its buyout of Schering-Plough.

Microsoft MSFT $28.77 -0.199 0.69% 44,213,570 NASDAQ-GS: No mentions found.

Pfizer PFE $17.99 +0.26 1.47% 50,531,811 NYSE: WSJ p2 "Boeing Jumps, While Dell Slumps" by Kristina Peterson says US stocks rallied modestly as investors focused on the optimism under pinning he Fed reserve's discount rate increase and boosted such industrials as Boeing, while Pfizer climbed as a rival, United Therepeutics said it would to pull is European marketing applicaion for a high blood pressure treatment.

Procter & Gamble PG $63.45 +0.06 0.09% 10,832,327 NYSE: WSJ pB5 "New Schick Razor Will Counter Gillette" by Ellen Byron says Energizer Holdings on Fri intensified a battle for scarce consumer dollars by announcing its latest shaving system, the Schick Hydro, just a week after Procter & Gamble trumpeted is new Gillette Fusion ProGlide.

3M MMM $81.52 +0.41 0.51% 3,207,166 NYSE: No mentions found.

Travelers TRV $52.88 +0.14 0.27% 5,394,821 NYSE: No mentions found.

United Technologies UTX $68.52 +0.41 0.6% 5,282,861 NYSE: No mentions found.

Verizon VZ $29.02 -0.13 0.45% 18,449,578 NYSE: No mentions found.

WalMart WMT $53.49 +0.02 0.04% 14,983,115 NYSE: No mentions found.
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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson
Alcoa AA Klaus Kleinfeld
American Express AXP Kenneth I. Chenault
Bank of America BAC Brian T. Moynihan
Boeing BA W. James McNerney, Jr.
Caterpillar CAT Douglas Oberhelman
Chevron CVX John Watson
Cisco CSCO John Chambers
Coca Cola KO Muhtar Kent
Disney DIS Robert Iger
DuPont DD Ellen Kullman
ExxonMobil XOM Rex W. Tillerson
GE Jeffrey R. Immelt
Hewlett-Packard HPQ Mark Hurd
Home Depot HD Frank Blake
Intel INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPMorgan Chase JPM Jamie Dimon
Johnson & Johnson JNJ William C. Weldon
Kraft KFT Irene Rosenfeld
McDonald's MCD Jim Skinner
Merck MRK Robert Clark
Microsoft MSFT Steve Ballmer
Pfizer PFE Jeffrey Kindler
Procter & Gamble PG Bob McDonald
3M MMM George W. Buckley
Travelers TRV Jay S. Fishman
United Technologies UTX Louis Chenevert
Verizon VZ Ivan Seidenberg
Wal-Mart WMT Mike Duke

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of 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