2/23/10 Tues am Ct. Approves BofA Settlement with SEC

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Post #308 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 Tuesday's print editions of: The Wall Street Journal, Financial Times, USA Today, 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 Monday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Monday at 10,383.38 down 1.97 or 0.18% from Friday's close of 10,402.35. year to date the Dow is down 0.43%. Of the 30 Dow Companies: 11 gained and 19 declined. The biggest gainer dollar-wise was NYSE and percentage-wise was NYSE. The biggest decliner dollar-wise was J.P.Morgan Chase JPM $40.85 +0.82 2.05% 42,713,387 NYSE and percentage-wise was Bank of America BAC $16.21 +0.33 2.08% 172,786,369 NYSE.

WSJ pC1 "Stocks Show Small Decline" by Peter A. McKay says a late selloff left stocks down slightly as investor concern about the economy took over, weighting on the energy sector and other economically sensitive industries of the market. The Dow's weakest component was Chevron, off 1.5%. Rival Exxon Mobil declined 0.7%.

WSJ pC5 "Chevron Off 1.5%; BofA Rises" by Kristina Peterson says stocks fell modestly after seesawing for most of Mon, as a slumping energy sector dragged down Chevron and Exxon Mobil, though financial climbed and Bank of America surged after settling with the SEC. Merck is charged under "Bad News" because it was among the biggest losers in the Dow on a down day for pharma stocks.

Fin Times p22 "Schlumberger and good earnings fail to sustain revival" by Masa Serdarevic says US stocks lost momentum yesterday, in spite of a number of strong corp earnings announcements and a burst of merger and acquisition activity.

Inv. Bus. Daily pA1 "Trade Turns Quiet As Indexes Take Small Step Back" by Paul Whitfield says stocks edged down as the recent trend of quiet volume continued Mon. Monday's action was down in weaker volume and the current outlook is the market is in a correction.

USA Today p4B "Stocks slip on cautious growth outlooks" by AP says the stock market paused from a 4 session rally Mon. and closed modestly lower after big consumer firms gave a cautious outlook for economic growth.

NYT pB9 "Rally Pauses Amid Caution About Economy" by Javier C. Hernandez says volatility returned to Wall St. on Mon, ending a 4 day winning streak for stocks, as worries over the energy sector overshadowed hopes that banks would continue to bring in generous profits.

As of the open of the market Tuesday, 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 16.23 down from Monday's open of 16.26 (year ago it was 16.91) the P/E estimate is 12.85 unchanged from Monday's open of 12.85 (year ago it was 11.16) and the current dividend yield is 2.63 up from Monday's open of 2.62 (it was 4.41 a year ago).

Monday's Dow Jones Industrial Average closing numerator was 1373.92 down 2.51 from Friday's closing Dow numerator of 1,376.43. 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 2.51 for Monday by the divisor you get the decrease in Monday's Dow close of 18.97. 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 Monday's Dow Jones Industrial Average was $45.80 down 0.08 from Friday's Dow Jones Industrial Average closing price of $45.88. The median closing price of Monday's Dow Jones Industrial Average was 39.39 down 0.15 from Friday's median closing price of 39.54. The lowest volume was 3M MMM $80.68 -0.84 1.03% 2,967,166 NYSE and the highest volume again was Bank of America BAC $16.21 +0.33 2.08% 172,786,369 NYSE.

If Monday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $243 ($137,643 - $137,400).

Market Watch Mon. 4:32 p.m. by Peter McKay, Michael S. Derby says U.S. stocks quit four-session win streak, led by energy loss- An afternoon rally in stocks evaporated by the close of trading Monday as investor jitters about the economy resurfaced, hurting the energy sector and other recovery-sensitive industries. The Dow Jones Industrial Average (INDU 10,383, -18.89, -0.18%) tumbled into the red in the last hour of trading to snap a four-day winning streak, ending down 18.97 points, or 0.2%, at 10,383.38. Its weakest component was Chevron Corp. (CVX 73.13, +0.17, +0.23%) , whose shares fell 1.5%. Rival Exxon Mobil Corp.'s ((XOM 65.41, +0.01, +0.02%) shares fell 0.7%. The S&P 500 (SPX 1,108, -1.16, -0.10%) slipped 0.1%, led by a 1.3% slide in its energy category. The sector's biggest loser was Schlumberger Ltd. (SLB 61.50, -0.07, -0.11%) . Its shares fell 3.7% in the wake of its $11 billion takeover offer for Smith International Inc. (SII 40.10, -0.03, -0.08%) , a deal which would create the world's biggest oilfield services company. Smith shares rose 8.8%.

Hot Stocks: M&A in Oil Patch Shares of Schlumberger and Smith International make big moves on merger news, but analysts say the bid price is higher than expected. More broadly, traders say the market has entered a delicate phase following last week's 3% jump in the Dow, including gains in every session of the holiday-shortened week.
Wall Street is increasingly nervous about when the Federal Reserve might raise rates and whether the administration and its counterparts around the world will pull back stimulative fiscal policies too soon to keep the fledgling global recovery going. The financial sector was a rare bright spot for the market, helped by a 2.1% gain in Bank of America Corp. (BAC 16.23, +0.02, +0.12%) after a federal judge reluctantly approved a $150 million settlement between the bank and the Securities & Exchange Commission over the bank's disclosures before its acquisition of Merrill Lynch last year. The S&P 500's health-care category also staged a modest rebound from early losses, ending near the flatline after President Obama unveiled a $950 billion compromise health-care plan that was largely in line with traders' expectations. Read more on health-care stocks.

The Nasdaq Composite (COMP 2,242, -1.84, -0.08%) slipped 0.1%. The Russell 2000 was up 0.1%. Volume was light as many traders stayed on the sidelines. Composite turnover in New York Stock Exchange-listed companies hit 3.9 billion shares, well below the daily average so far this year. In other markets, the dollar slipped versus the yen and euro. Oil prices recovered from early losses to end just above $80 a barrel. Treasury prices were mixed, with the two-year note up 2/32 to yield 0.883%, but the 10-year note off 5/32 to yield 3.796%.

AT&T T $25.02 -0.08 0.32% 30,969,438 NYSE: No mentions found.

Alcoa AA $13.54 +0.01 0.07% 23,163,400 NYSE: No mentions found.

American Express AXP $38.93 -0.13 0.33% 7,386,606 NYSE: No mentions found.

Bank of America BAC $16.21 +0.33 2.08% 172,786,369 NYSE: WSJ pC1 "Rakoff Backs BofA Accord, Unhappily" by Dan Fitzpatrick, Kara Scannell, Chad Bray, Fin Times p1 "BofA in $150 mil settlement to end SEC case" by Greg Farrell, Inv. Bus. Daily pA1 "Half-Baked" BofA Accord OK'd", NYT pB1 "Bank's Deal With SEC Is Approved" by Louise Story & AJC pAP "Court approves BofA settlement" by AP USA p2B say a fed. judge approved an amended $150 mil settlement between the SEC and BofA to end civil charges accusing Bofa of misleading shareholders when it bought Merrill Lynch calling the amended SEC case "half-baked justice."

WSJ pC5 "Chevron Off 1.5%; BofA Rises" by Kristina Peterson says stocks fell modestly after seesawing for most of Mon, as a slumping energy sector dragged down Chevron and Exxon Mobil, though financial climbed and Bank of America surged after settling with the SEC. Merck is charged under "Bad News" because it was among the biggest losers in the Dow on a down day for pharma stocks.

Boeing BA $63.97 +0.38 0.6% 6,023,344 NYSE: No mentions found.

Caterpillar CAT $58.03 -0.22 0.38% 6,972,507 NYSE: No mentions found.

Chevron CVX $72.96 -1.09 1.47% 8,660,384 NYSE: WSJ pC1 "Stocks Show Small Decline" by Peter A. McKay says a late selloff left stocks down slightly as investor concern about the economy took over, weighting on the energy sector and other economically sensitive industries of the market. The Dow's weakest component was Chevron, off 1.5%. Rival Exxon Mobil declined 0.7%.

WSJ pC5 "Chevron Off 1.5%; BofA Rises" by Kristina Peterson says stocks fell modestly after seesawing for most of Mon, as a slumping energy sector dragged down Chevron and Exxon Mobil, though financial climbed and Bank of America surged after settling with the SEC. Merck is charged under "Bad News" because it was among the biggest losers in the Dow on a down day for pharma stocks.

Cisco CSCO $24.3 -0.06 0.25% 31,145,968 NASDAQ-GS: WSJ pB1 "Anoterh Motorola Vt leaves: Co-CEO Weights Moving Unit West" by Roger Cheng, Niraj Sheth says Tech chief Padmasree Warrior left Motorola for a similar position at Cisco Systems.

Coca-Cola KO $55.38 -0.34 0.61% 6,709,521 NYSE: No mentions found.

DuPont DD $33.98 -0.05 0.15% 5,971,148 NYSE: No mentions found.

Disney DIS $31.12 -0.11 0.35% 7,555,227 NYSE: No mentions found.

ExxonMobil XOM $65.4 -0.47 0.71% 20,347,298 NYSE:
WSJ pC1 "Stocks Show Small Decline" by Peter A. McKay says a late selloff left stocks down slightly as investor concern about the economy took over, weighting on the energy sector and other economically sensitive industries of the market. The Dow's weakest component was Chevron, off 1.5%. Rival Exxon Mobil declined 0.7%.

WSJ pC5 "Chevron Off 1.5%; BofA Rises" by Kristina Peterson says stocks fell modestly after seesawing for most of Mon, as a slumping energy sector dragged down Chevron and Exxon Mobil, though financial climbed and Bank of America surged after settling with the SEC. Merck is charged under "Bad News" because it was among the biggest losers in the Dow on a down day for pharma stocks.

GE $16.25 +0.08 0.49% 44,750,469 NYSE: No mentions found.

Hewlett-Packard HPQ $50.56 -0.23 0.45% 12,397,503 NYSE: No mentions found.

Home Depot HD $30.32 +0.17 0.56% 15,962,330 NYSE: NYT pB7 "Results at Lowe's Top Expectations" by Reuters says Lowe's reported better than expected quarterly results on Mon and said sales would improve in '10 as demand for remodeling projects picked up. The results suggest the worst of the economic cycle is over and bode well for the firm's larger rival, Home Depot, which reports quarterly earnings on Tues.

Intel INTC $20.87 +0.05 0.24% 38,638,401 NASDAQ-GS: No mentions found.

IBM $126.85 -0.34 0.27% 3,790,197 NYSE: No mentions found.

J.P.Morgan Chase JPM $40.85 +0.82 2.05% 42,713,387 NYSE: No mentions found.

Johnson & Johnson JNJ $63.49 -0.32 0.5% 9,795,270 NYSE: No mentions found.

Kraft KFT $28.95 +0.03 0.1% 18,832,522 NYSE: No mentions found.

McDonald's MCD $64.77 +0.03 0.05% 4,262,420 NYSE: No mentions found.

Merck MRK $37.12 -0.37 0.99% 17,534,476 NYSE: WSJ pC5 "Chevron Off 1.5%; BofA Rises" by Kristina Peterson says stocks fell modestly after seesawing for most of Mon, as a slumping energy sector dragged down Chevron and Exxon Mobil, though financial climbed and Bank of America surged after settling with the SEC. Merck is charged under "Bad News" because it was among the biggest losers in the Dow on a down day for pharma stocks.

Microsoft MSFT $28.73 -0.04 0.14% 36,606,960 NASDAQ-GS: No mentions found.

Prizer PFE $17.95 -0.04 0.22% 57,852,602 NYSE: No mentions found.

Procter & Gamble PG $63.42 -0.03 0.05% 9,631,095 NYSE: No mentions found.

3M MMM $80.68 -0.84 1.03% 2,967,166 NYSE: No mentions found.

Travelers TRV $53.04 +0.16 0.3% 4,449,821 NYSE: No mentions found.

United Technologies UTX $68.4 -0.12 0.18% 3,292,792 NYSE: No mentions found.

Verizon VZ $29 0.02 -0.07% 13,691,495 NYSE: No mentions found.

WalMart WMT $53.83 +0.34 0.64% 12,061,433 NYSE: WSJ pB2 "WalMart to Resume Online Movie Sales" by Miguel Bustillo, USA p1B, AJC pA8 "WalMart to buy digital movie producer Vudu" & NYT pB1 "Adding WalMart's Clout to Streamed Shows" by Brad Stone say WMT will buy this broadband entertainment provider in a deal that will give it the ability to sell movies directly through TVs and Blu-ray players over the Internet.

WSJ pC1 "Upstarts Target UK Banking Ranks" by Paul Sonne, Sara Schaffer Munox says Britain's biggest grocer, Tesco is among an array of British firms pusing into the UK's retail banking market following the financial crisis. The firms include Virgin Group and Metro Bank. WalMart faced stiff opposition when it got a banking license in the US with members of Congress and the banking industry decrying the retailer's move into financial services. However, Tesco has faced little resistance in the UK.
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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