2/25/10 Thurs. pm Dow Closes 10,321.03 down 53.13 or 0.51%

www.DowJonesMonitor.com

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

Post #313 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 10,321.03 down 53.13 or 0.51% down from Wednesday's close of 10,374.16. Of the 30 Dow Companies: 5 gained, Home Depot was unchanged and 24 declined. The biggest gainer dollar-wise and percentage-wise was Alcoa AA $13.31 +0.25 1.91% 39,382,065 NYSE. The biggest decliner dollar-wise and percentage-wise was KO $53.12 -2.04 3.7% 31,736,350 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 16.22 up from Wednesday's open of 16.07 (year ago it was 17.62) the P/E estimate is 13.26 up from Wednesday's open of 12.85 (year ago it was 11.16) and the current dividend yield is 2.63 down from Wednesday's open of 2.65 (it was 4.32 a year ago).

Thursday's Dow Jones Industrial Average closing numerator was 1365.67 down 7.03 from Wednesday's closing Dow numerator of 1,372.70. 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 7.03 for Thursday by the divisor you get the decrease in Thursday's Dow close of 53.13. 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 $45.52 down 0.24 from Wednesday's Dow Jones Industrial Average closing price of $45.76. The median closing price of Thursday's Dow Jones Industrial Average was 39.34 down 0.29 from Wednesday's median closing price of 39.63. The lowest volume was 3M MMM $79.74 -0.33 0.41% 4,080,427 NYSE and the highest volume again was Bank of America BAC $16.55 +0.22 1.35% 283,967,961 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 lost $720 ($137,280-$136,560).

Market Watch Thurs. Feb. 25, 2010, 4:32 p.m. by Kristina Peterson & Peter McKay says U.S. stocks closed with moderate losses Thursday, hurt by investors' worries about the U.S. jobs picture and sovereign debt in Europe. The major indexes recovered from a deeper swoon after the euro rose against the dollar, encouraging some traders to take on risk in stocks and commodities. But the trading session's overall tone was bearish, with weak jobless-claims data renewing worries about the pace of the U.S. economic recovery, while comments by Moody's Investors Service kept long-term concerns about Greece's creditworthiness alive. The Dow Jones Industrial Average 1%) ended down 53.13 points, or 0.5%, at 10,321.03. At its late-morning low, it was off more than 188 points. The Nasdaq Composite slipped 0.1%, while the Standard & Poor's 500-share index fell 0.2%, hurt by selling in every sector. With one trading session to go in February, the Dow is now up 2.5% for the month, which has seen a marked increase in volatility. Traders say the U.S. has regained some of its safe-haven status lately, but few are willing to bet that a full-blown bull market is back. Investors received evidence of just the opposite as the Labor Department said that weekly jobless claims unexpectedly surged last week by 22,000 to 496,000, their highest level in over three months. Economists surveyed by MarketWatch had expected initial claims would drop to 460,000 in the week ended Feb. 20. The four-week average of claims, viewed as a more dependable barometer of the job market than volatile week-to-week readings, shook investors. The four-week average rose by 6,000 to a total of 473,750, up from the previous week's revised average 467,750. The U.S. Dollar Index (DXY 80.72, -0.13, -0.16%), which posted gains early in the session, reversed course to post a 0.2% decline. One euro cost $1.3557, up from $1.3534 late Wednesday, helped by the unwinding of bearish bets made earlier in the month when questions began to swirl about Greece's heavy debt load. The dollar's reversal helped commodities, which are traded globally in terms of the U.S. currency. The Dow Jones-UBS Commodity Index ended down 1.3%, improving from a decline of nearly 3% at its late-morning low. Oil futures fell, but gold contracts snapped a three-day losing streak, rising $11.30 to end at $1,107.80 per ounce in New York. The Dow's biggest loser in percentage terms was Coca-Cola Co. (KO 53.05, -0.07, -0.13%) , off 3.7% after the soft-drink maker agreed to buy most of its largest bottler, Coca-Cola Enterprises Inc. (CCE 25.48, +6.30, +32.85%) , in a deal estimated to be worth between $12 billion and $13 billion. Shares of the bottler surged 32.9%. Palm Inc. (PALM 6.51, -0.02, -0.31%) shares tumbled 19.3% after the company acknowledged its new smart phones aren't selling as well as hoped. J.P. Morgan Chase & Co. (JPM 40.66, +0.02, +0.05%) shares slipped 0.5% after its investment banking chief said the bank expects a return on equity of 17% this year, down from 21% last year. Dr Pepper Snapple Group Inc. (DPS 31.83, +3.18, +11.10%) jumped after reporting slightly better-than-expected fourth-quarter earnings and predicted 2010 sales would rise 3% to 5%. Dynegy Inc.'s (DYN 1.50, -0.02, -1.32%) fourth-quarter loss widened on asset sales and mark-to-market losses, as the electricity generator reported a steeper-than-expected decline in revenue. In other markets, the dollar weakened against the yen, but strengthened against the euro. Treasurys climbed, with the 10-year note up 16/32 to yield 3.634%. Gold futures gained $11.30 to end at $1,108.50 an ounce.

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

AT&T T $24.77 -0.14 0.56% 29,503,377 NYSE
Alcoa AA $13.31 +0.25 1.91% 39,382,065 NYSE
American Express AXP $38.04 -0.37 0.96% 8,430,395 NYSE
Bank of America BAC $16.55 +0.22 1.35% 283,967,961 NYSE
Boeing BA $62.87 -0.61 0.96% 5,013,404 NYSE
Caterpillar CAT $56.79 -0.17 0.3% 9,924,830 NYSE
Chevron CVX $72.11 -0.23 0.32% 11,702,540 NYSE
Cisco CSCO $24.33 -0.01 0.04% 37,048,102 NASDAQ-GS
Coca-Cola KO $53.12 -2.04 3.7% 31,736,350 NYSE
Disney DIS $31.36 -0.03 0.1% 10,517,034 NYSE
DuPont DD $33.52 -0.46 1.35% 8,114,249 NYSE
ExxonMobil XOM $65.14 -0.41 0.63% 25,527,645 NYSE
GE $15.92 -0.20 1.24% 63,192,047 NYSE
Hewlett-Packard HPQ $50.92 +0.13 0.26% 12,780,474 NYSE
Home Depot HD $31.36 unch unch 15,031,432 NYSE
Intel INTC $20.63 -0.07 0.34% 48,440,585 NASDAQ-GS
IBM $127.07 -0.52 0.41% 5,633,580 NYSE
J.P.Morgan Chase JPM $40.64 -0.21 0.51% 46,378,693 NYSE
Johnson & Johnson JNJ $63.28 -0.17 0.27% 10,476,486 NYSE
Kraft KFT $28.81 -0.24 0.83% 22,777,449 NYSE
McDonald's MCD $64.38 -0.88 1.35% 8,459,163 NYSE
Merck MRK $36.57 -0.36 0.97% 16,945,352 NYSE
Microsoft MSFT $28.6 -0.03 0.1% 48,671,580 NASDAQ-GS
Pfizer PFE $17.69 -0.12 0.67% 53,411,386 NYSE
Procter & Gamble PG $63.7 -0.19 0.3% 10,054,724 NYSE
3M MMM $79.74 -0.33 0.41% 4,080,427 NYSE
Travelers TRV $52.75 -0.04 0.08% 5,054,948 NYSE
United Technologies UTX $68.67 +0.05 0.07% 5,886,931 NYSE
Verizon VZ $28.88 -0.08 0.28% 15,772,079 NYSE
WalMart WMT $54.15 +0.23 0.43% 13,302,787 NYSE
**********************************************
The following are excerpts from Thurs. morning's Blog:

A read of Thursday'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 Wednesday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Wednesday at 10,374.16 up 91.75 or 0.89% down from Tuesday's close of 10,282.41. For the year the Dow is down 1.47%. Of the 30 Dow Companies: 28 gained and 2 (Alcoa and Kraft) declined. The biggest gainer dollar-wise was IBM $127.59 +1.13 0.89% 4,727,636 and percentage-wise was Bank of America BAC $16.33 +0.39 2.45% 189,717,301 NYSE. The biggest decliner dollar-wise was NYSE and percentage-wise was Alcoa AA $13.06 -0.12 0.91% 36,041,183 NYSE.

WSJ pC1 "Fed Chairman Helps Stocks Stanch Slide" by Peter A. McKay, Kristina Peterson says stocks ended a 2 day skid as Fed. Res. Chair Ben Bernanke's indication that interest rates would remain low outweighed bleak housing data. The Dow Jones Industrial average, which los 120 points over the prior 2 sessions rose 0.9%. Bank of America and JPMorgan Chase climbed more than 2% each.

WSJ pC5 "Bof A Leads Charge: Carnival Cruises 6.3%: by Kristina Peterson says stocks rebounded as congressional testimony from Ben Bernanke sent fin'l stocks soaring, including BofA and JPM, while Toyota Motor rose after its ceo faced his own Washington grilling. Disney rose 47 cents after announcing a restructuring at is ABC News unit including plans to reduce its work force by up to 400 workers. Bank of America is chaired under "Good News" says it led the gainers as Bernanke said interest rates would stay low.

NYT pB9 "Shares Rise as Bernanke Reaffirms Extended Period of Low Interest Rates" by Javier C. Hernandez says a pledge from Chair Bernanke to keep interest rates low helped galvanize the equity markets on Wed, soothing concerns that the economy would be deprived of a critical crutch as it struggled to recover. In response, stocks surged, with the DJIA briefly posting triple digit gains.

Inv. Bs. Daily pA1 "Stocks Stage Hollow Bounce as Volume Declines" by Alan R. Elliott says stocks took a whiffle ball bounce Wed, rising in light trade after fed. chief Bernanke reiterated a pledge to keep interest rates low. Wednesday's action was up in weak trading and the current outlook was the market is in a correction.

Fin Times p24 "Fed reassurance offsets losses for house builders" by Masa Serdarevic says US equities moved higher Wed as the markets were comforted by Fed. Res. chair Ben Bernanke's comments to Congress that the US economy is in a nascent recovery that requires interest rates to be kept low to encourage demand by consumers and firms.

USA Today p4B "Promise of low rates bucks up stocks" by Ap says Fed. Res. Chair Bernanke gave Wall St. the tonic it waned Wed when he said interest rates will stay low.

AJC pA15 Fed update encourages stocks" says Fed Chair Bernanke gave the stock market the tonic it wanted: interest rates will stay low as he made his forecast during his semiannual report to Congress. Stocks ended a 2 day slide on Wed.

Wednesday's Dow Jones Industrial Average closing numerator was 1372.70 up 12.14 from Tuesday's closing Dow numerator of 1,360.56. 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 12.14 for Wednesday by the divisor you get the increase in Wednesday's Dow close of 91.75. 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 $45.76 down 0.41 from Tuesday's Dow Jones Industrial Average closing price of $45.35. The median closing price of Wednesday's Dow Jones Industrial Average was 39.63 up 0.72 from Tuesday's median closing price of 38.91. The lowest volume was 3M MMM $80.07 +0.36 0.45% 3,476,271 NYSE and the highest volume again was Bank of America BAC $16.33 +0.39 2.45% 189,717,301 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 $1,230 ($137,280 - $136,050).

Market Watch Weds. Feb. 24, 2010, 4:10 p.m. by By Kate Gibson says U.S. stocks on Wednesday finished higher for the first day in three after Federal Reserve Chairman Ben Bernanke reiterated that interest rates would remain low for an extended period. "The market is breathing a sigh of relief that Bernanke didn't surprise us," said Art Hogan, chief market strategist at Jefferies & Co. "It was wait-and-see in front of this," added Hogan of the market's recent lackluster action.

AT&T T $24.91 +0.08 0.32% 28,765,972 NYSE: No mentions found.

Alcoa AA $13.06 -0.12 0.91% 36,041,183 NYSE: No mentions found.

American Express AXP $38.41 +0.48 1.27% 6,275,008 NYSE: No mentions found.

Bank of America BAC $16.33 +0.39 2.45% 189,717,301 NYSE: WSJ pC1 "Bonus Blowback Bypasses Brokers" by Aaron Lucchetti, Brett Philbin says big bonuses and signing awards are still being paid by Wall St. firms. About one third of the 18,000 brokers at Morgan Stanley Smith Barney got retention bonuses as did Merrill's top brokers who stayed with BofA when they got taken over by BofA.

WSJ pC1 "Fed Chairman Helps Stocks Stanch Slide" by Peter A. McKay, Kristina Peterson says stocks ended a 2 day skid as Fed. Res. Chair Ben Bernanke's indication that interest rates would remain low outweighed bleak housing data. The Dow Jones Industrial average, which los 120 points over the prior 2 sessions rose 0.9%. Bank of America and JPMorrgan Chase climbed more than 2% each.

WSJ pC5 "Bof A Leads Charge: Carnival Cruises 6.3%: by Kristina Peterson says stocks rebounded as congressional testimony from Ben Bernanke sent fin'l stocks soaring, including BofA and JPM, while Toyota Motor rose after its ceo faced his own Washington grilling. Disney rose 47 cents after announcing a restructuring at is ABC News unit including plans to reduce its work force by up to 400 workers. Bank of America is chaired under "Good News" says it led the gainers as Bernanke said interest rates would stay low.

WSJ pB4 "ARC Loans Help Distressed Businesses - but Act Fast" by Emily Maltey says 6,178 small business owners will get an "America's Recovery Capital" loan from the SBA as part of last year's stimulus package. Even though more than 1,100 lenders including big banks such as JPMogan, & Well Fargo have agreed to make such loans, it is often hard for business owners to find a participating lender. Bank of America has declined to participate in the program.

Boeing BA $63.48 +0.71 1.13% 3,357,471 NYSE: WSJ pA14 "US Sells Arms to S. Asian Rivals" by Yochi J. Dreazen, Amol Sharma says the Obama admin. is expanding US weapons transfers to India and Pakistan, longtime rivals about to sit down for peace talks Thurs. In Jan, the admin signed off on India's request to buy 14 US made howitzers for $647 mil. Days earlier India formally expressed its intent to buy 10 cargo transport aircraft from Boeing for $2 bil and India is buying 126 combat aircraft from either Lockheed Martin, Boeing or Russian or European firms.

Caterpillar CAT $56.96 +0.30 0.53% 5,695,070 NYSE: No mentions found.

Chevron CVX $72.34 +0.30 0.42% 8,817,609 NYSE: Inv. Bus Daily "4 Blue Chips Ready To Get Back On Track" by Paul Whitfield says the challenge for long germ investors in this shaky economy is to find stocks that are most likely to return to their usual winning ways. There are 12 dividend stocks in the Dow that are delivering a yield of a least 3%. Coke looks like a winner after a 3% decline in '09, he first since '02 as rev is expected to grow 6% in '10. The Street expects earnings to ramp up 11% in '10. Chevron looks good though its earnings and sales history is more erratic than Cokes. Analysts see 59% and 27% earnings growth in '10 and '11. Kraft passes a shorter test because its a '01 spinoff. Analysts expect Kraft to grow earnings 3% and 11% in '10 and '11 vs a 9 year median of 3%. Sales are expected to rise about 14% this year. Its dividend yield is 4% while Chevron's dividend yield is 3.8% and KO's dividend yield is 3.2%. Dupont's dividend yield is 4.8% and it is expected to grow earnings 16% & 14% in '10 & '11. 7 of the past 15 years, though, involved earnings declines. Of these 4, KO is the only one that increased its pretax profit margin in '09.

Cisco CSCO $24.34 +0.29 1.21% 33,020,376 NASDAQ-GS: No mentions found.

Coca-Cola KO $55.16 +0.33 0.6% 7,158,056 NYSE: WSJ pA1 "Coke Near Deal for Bottler" by Dana Cimilluca, Besy McKay, Jeffrrey MMcCracken, NYT pB3 "Coke is Said to Pursue Bottler" by Michael J. de la Merced" says the Coca Cola Co. is in talks to buy the N. American operations of its largest bottler, reversing a 14 year trend of keeping its bottling oeprations separate from its main soft drink business. It would acquire the N. American operations of Coca-Cola Enterprises, which would then pursue more of Coke's bottling operations in certain European areas. The deal could be ore than $13 bil.

Inv. Bus Daily "4 Blue Chips Ready To Get Back On Track" by Paul Whitfield says the challenge for long germ investors in this shaky economy is to find stocks that are most likely to return to their usual winning ways. There are 12 dividend stocks in the Dow that are delivering a yield of a least 3%. Coke looks like a winner after a 3% decline in '09, he first since '02 as rev is expected to grow 6% in '10. The Street expects earnings to ramp up 11% in '10. Chevron looks good though its earnings and sales history is more erratic than Cokes. Analysts see 59% and 27% earnings growth in '10 and '11. Kraft passes a shorter test because its a '01 spinoff. Analysts expect Kraft to grow earnings 3% and 11% in '10 and '11 vs a 9 year median of 3%. Sales are expected to rise about 14% this year. Its dividend yield is 4% while Chevron's dividend yield is 3.8% and KO's dividend yield is 3.2%. Dupont's dividend yield is 4.8% and it is expected to grow earnings 16% & 14% in '10 & '11. 7 of the past 15 years, though, involved earnings declines. Of these 4, KO is the only one that increased its pretax profit margin in '09.

DuPont DD $33.98 +0.30 0.89% 6,791,362 NYSE: Inv. Bus. Daily pA2 says DuPont said it expects its polymers unit to increase sales more than 12% in '10, while raising pretax margins.

Inv. Bus Daily "4 Blue Chips Ready To Get Back On Track" by Paul Whitfield says the challenge for long germ investors in this shaky economy is to find stocks that are most likely to return to their usual winning ways. There are 12 dividend stocks in the Dow that are delivering a yield of a least 3%. Coke looks like a winner after a 3% decline in '09, he first since '02 as rev is expected to grow 6% in '10. The Street expects earnings to ramp up 11% in '10. Chevron looks good though its earnings and sales history is more erratic than Cokes. Analysts see 59% and 27% earnings growth in '10 and '11. Kraft passes a shorter test because its a '01 spinoff. Analysts expect Kraft to grow earnings 3% and 11% in '10 and '11 vs a 9 year median of 3%. Sales are expected to rise about 14% this year. Its dividend yield is 4% while Chevron's dividend yield is 3.8% and KO's dividend yield is 3.2%. Dupont's dividend yield is 4.8% and it is expected to grow earnings 16% & 14% in '10 & '11. 7 of the past 15 years, though, involved earnings declines. Of these 4, KO is the only one that increased its pretax profit margin in '09.

Disney DIS $31.39 +0.47 1.52% 11,895,300 NYSE: No mentions found.

ExxonMobil XOM $65.55 +0.61 0.94% 21,221,896 NYSE: No mentions found.

GE $16.12 +0.17 1.07% 56,279,732 NYSE: No mentions found.

Hewlett-Packard HPQ $50.79 +0.67 1.34% 14,892,078 NYSE: No mentions found.

Home Depot HD $31.36 +0.61 1.98% 22,476,507 NYSE: AJC pA13 "Prison term in trade secrets case" by Rachel Tobin Ramos says a former Home Depot manager got sentenced to 4 months in fed prison on a felony charge of disclosing secrets of one potential HD supplier to another supplier.

Intel INTC $20.7 +0.312 1.53% 50,707,704 NASDAQ-GS: No mentions found.

IBM $127.59 +1.13 0.89% 4,727,636 NYSE: Inv. Bus Daily pA4 "Independent Teradata Finally Seeing Light" by Amy Reeves who interviews its CEO, Darryl McDonald who says that his firm, Teradata Corp, separated from is parent NCR 16 years ago and now provides high end data warehousing, that helps customers analyze and use their data. It competes with Oracle, Microsoft, and IBM. IBM acquired a strong partner of Teradata: Ascential. Oracle, IBM and Microsoft designed their data base products for transactional environments while Teradata software products are designed for the analytical environment.

J.P.Morgan Chase JPM $40.85 +0.97 2.43% 44,357,593 NYSE: WSJ pB4 "Movie Theaters secure Financing for Digital Upgrade" by Jeffrey McCracken, Lauren A.E. Schuker says three large move theater chains, AMC, Cinemark, & Regal will unveil a new $660 mil financing plan to convert half of the nation's screens to digital tech, paving the way for Hollywood to roll ou more 3LD movies like Avatar. JPMorgan Chase is backing he deal, which includes $45 mil in debt and $215 in equity.

WSJ pB4 "ARC Loans Help Distressed Businesses - but Act Fast" by Emily Maltey says 6,178 small business owners will get an "America's Recovery Capital" loan from the SBA as part of last year's stimulus package. Even though more than 1,100 lenders including big banks such as JPMogan, & Well Fargo have agreed to make such loans, it is often hard for business owners to find a participating lender. Bank of America has declined to participate int he program.

Johnson & Johnson JNJ $63.45 +0.14 0.22% 8,474,580 NYSE: No mentions found.

Kraft KFT $29.05 -0.08 0.27% 21,349,382 NYSE: NYT pB1 "Hidden Ingredient: The Sweetener" by William Neuman says a buyer for Kraft took bribes from a Cal. tomoto proccessor to get its products into Kraft's plants. Millions of pounds of tomato products had high levels of mold and other defects. The buyer and three other buyers from Frito Lay, Safeway and B&G Foods have pleaded guilty to taking bribes.

WSJ pB6 "Meredith Builds Up a Sideline in Marketing" by Emily Steel says Meredith, the publisher of women magazines, has bough a series of digital ad agencies calling its marketing shop, Meredith Integrated Marking and is serving clients such as Kraft, Chryrsler and Wells Fargo.

Inv. Bus Daily "4 Blue Chips Ready To Get Back On Track" by Paul Whitfield says the challenge for long germ investors in this shaky economy is to find stocks that are most likely to return to their usual winning ways. There are 12 dividend stocks in the Dow that are delivering a yield of a least 3%. Coke looks like a winner after a 3% decline in '09, he first since '02 as rev is expected to grow 6% in '10. The Street expects earnings to ramp up 11% in '10. Chevron looks good though its earnings and sales history is more erratic than Cokes. Analysts see 59% and 27% earnings growth in '10 and '11. Kraft passes a shorter test because its a '01 spinoff. Analysts expect Kraft to grow earnings 3% and 11% in '10 and '11 vs a 9 year median of 3%. Sales are expected to rise about 14% this year. Its dividend yield is 4% while Chevron's dividend yield is 3.8% and KO's dividend yield is 3.2%. Dupont's dividend yield is 4.8% and it is expected to grow earnings 16% & 14% in '10 & '11. 7 of the past 15 years, though, involved earnings declines. Of these 4, KO is the only one that increased its pretax profit margin in '09.

McDonald's MCD $65.26 +0.39 0.6% 7,538,735 NYSE: No mentions found.

Merck MRK $36.93 +0.42 1.15% 16,898,308 NYSE: No mentions found.

Microsoft MSFT $28.63 +0.30 1.06% 42,703,752 NASDAQ-GS: WSJ pB2 "EU Reviews Complaints Filed Vs. Google" by Peppi Kiviniemi says the European Comm. said it is examining antitrust complaints claiming Google tried to stifle competitors but it hadn't opened a formal antitrust investigation. the complaints have been made by Ciao.de, a German subsidiary of Microsoft, Foundem.co.uk, a UK price comparison site; and Ejustice.fr, a French site specializing in legal search inquiries.

WSJ pC12 "Google Up Against Big Muscles in Brussels" by Martin Peers notes the irony of Microsoft filing an antitrust complaint with the EU, when Microsoft, itself, for 20 years has been fighting inquiries by European antitrust regulators about its bundling of products like Internet Explorer with the Windows operating system resulting in heavy fines and an agreement to change MSFT's biz practices.

Other stories about Microsoft's complaints with the EU vs Google are at Fin Times p8 "Google's size puts it int he searchlight" and "Micrsoft cashes in on Google woes" & Fin Times p12 "The Lex Column" & Fin imes p13 "Adefrtising chiefs welcome Brussels probe into Google's search business" and a whole page of articles at Fin Times p15 "Search Inquiry".

Inv. Bus. Daily pA4 "Salesforce Tops Q4 Views, Lifts Outlook as Customers Flock to Cloud Computing" by J. Bonasia says Salesforce.com chalked up double digi sales and earnings growth in the 4Q, another sign that its cloud computing model for Web based sales mgmt software is taking hold with customers. Salesforce.com won numerous customers away from rivals Oracle, Microsoft and SAP.

Pfizer PFE $17.81 +0.14 0.79% 67,402,381 NYSE: WSJ pB4 "Pfizer Wins Prevnar 13 Approval, In Quick Boost From Wyeth Deal" by Jonathan D. Rockoff, NYT pB6 "Vaccine Is Approved fro Child Infecgions" by Duff Wilson, Inv. Bus. Daily pA2, AJC pA14 "Pfizer: FDA Oks updated infection vaccine" say the FDA approved an updated version of its best selling infection vaccine, Prevnar 13, for infants and children. It reduces the risk of infection by 13 strains of pneumococcal disease which causes ear infections, meningitis & pneumonia. It costs $108 per dose.

Procter & Gamble PG $63.89 +0.68 1.08% 11,945,515 NYSE: No mentions found.

3M MMM $80.07 +0.36 0.45% 3,476,271 NYSE: No mentions found.

Travelers TRV $52.79 +0.43 0.82% 5,525,966 NYSE: No mentions found.

United Technologies UTX $68.62 +0.83 1.22% 4,810,063 NYSE: No mentions found.

Verizon VZ $28.96 +0.22 0.77% 12,378,855 NYSE: No mentions found.

WalMart WMT $53.92 +0.30 0.56% 10,521,013 NYSE: USA Today p 1B "WalMart sets high sustainability goals" says WMT will reveal sustainability goals of being supplied by 100% renewable energy, creating zero waste and selling sustainable products.

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