2/26/10 Fri. am Coke Deals Is Major US Strategy Shift

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Post #314 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 Friday'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 Thursday's stock prices and related data.

Dow: 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. Year to date the Dow is down 1.54%. 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.

WSJ pC5 "Coca-Cola Fizzles, But Dr Pepper Pops" by Kristina Peterson says stocks closed down modestly, rebounding from a triple digit drop after an unexpected jump in weekly jobless claims drove the market down broadly, weighing on financials including American Express and JPMorgan Chase. Coca Cola sank after agreeing to buy most of its largest bottler, CCE, which is charted under "Good News" while Coca Cola" is charted under Bad News saying investors weren't as enthused about Coke as they were about CCE as KO took the biggest knock among the Dow. Video game and entertainment software retailer GameStop slid after its CFO said it was leaving to work for WalMart.

WSJ pC1 "Greece, Jobs Back to Fore, Pushing Dow Down 53.13" by Peter A. McKay, Kristina Peterson says stocks clawed back from deep intraday losses but failed to break into the black, a weak job market data and heightened jitters over Greece's budget crisis weighed on sentiment.

NYT pB6 "Greek Debt and a Weak Job Sector Weigh on Investors" by Javier C. Hernandez says a tense day for Wall St. ended with a tinge of hope, as a rise in commodity prices helped temper anxiety about Greek debt and the American jobs market. The major indexes never left negative territory Thurs, but a late surge helped shares bounce back from steep declines earlier in the day.

Inv. Bus. Daily pA1 "Stocks Wipe Out most Of Losses But Still End Lower" by Paul Whitfield says stocks turned what was shaping up as an ugly day into a so so outcome Thurs. After slipping almost 2%, the indexes climbed in the afternoon, wiping out most of their losses. Thursday's action was down in rising volume and the current outlook is the market is in a correction. An almost 4% plunge in Coca-Cola hurt the industrials.

USA Today p1B "Stocks waver as anxiety rises" by Adam Shell says the straight up trajectory of stocks that has ruled since the market low last March has given way to a choppy trading environment in which stocks rise and fall on headlines that either confirm or question the sustainability of the economic recovery.

USA Today p4B "Stocks fall but close only slightly lower" by Bloomberg says US stocks closed lower Thurs. despite a late day rebound, after Moody's Investors Service said it may downgrade Greek debt and reports on jobs and manufacturing orders trailed forecasts.

Fin Times p26 "Jobless figures and debt woes combine to damp trading" by Masa Serdarevic says US investors were spooked yesterday by higher than expected jobless claims combined with increased concerns about the Greek sovereign debt crisis following warnings by 2 ratings agencies that the nation's long term credit ratings could be downgraded. JPMorgan was down 0.5% on its annual investor days as CEO Jamie Dimon is expected to weigh in on some of the current issuers facing the banking industry.

AJC pA21 "Economic fears weigh on Dow" say stocks backtracked from an early plunge Thurs. but still closed lower on concerns about lingering US economic weakness. Investors were uneasy about the possibility that Greece's debt problems might spill to other nations.

As of the open of the market Friday, 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 16.09 down from Thursday's open of 16.22 (year ago it was 23.82) the P/E estimate is 13.26 unchanged from Thursday's open of 13.26 (year ago it was 11.16) and the current dividend yield is 2.63 unchanged from Thursday's open of 2.63 (it was 4.38 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.

AT&T T $24.77 -0.14 0.56% 29,503,377 NYSE: WSJ pB1 "As its Phones Flop, Palm Shres the Blame" by Yukari Iwatani Kane, Niraj Sheth & USA Today p3B "Slow sales of pre force Palm to cut forecast" by Edward C. Baig, NYT pB4 "Its Smartphones Selling Weakly, Palm Cuts Its Forecast" by Reuters say Palm Inc. said its flagship Pre and Pixi devices. launched last year, aren't selling as well as it hoped and said revenue for the year in May will be well below its forecasts. Palm is preparing to launch the Pre and Pixi through At&t, the No. 2 US wireless carrier, in the next few days. Palm is being heavily challenged by the competition from Microsfot, Apple, RIM, and Google among others.

Inv. Bus Daily pA4 "Strategic corporate Venture Push On Rise" by Brian Deagon says when AT&T announced on 2/10 it selected Alcatel-Lucent as a gear supplier for its next generation mobile broadband network, it was due to its 9900 Wireless Network Guardian product, which speeds data traffic. Alcatel-Lucent Ventures elevated the technology to a high status and brought it to market. More firms are forming venture units which are becoming more critical. Alcael-Lucent Ventures and similar units within Intel, Cisco Systems, Motorola, Best Buy and Verizon Communications function like venture capital firms as they look for fresh concepts, often outside their firm. The goal is to push a new technology forward that benefits their firm or provides a return on investment.

Alcoa AA $13.31 +0.25 1.91% 39,382,065 NYSE: No mentions found.

American Express AXP $38.04 -0.37 0.96% 8,430,395 NYSE: WSJ pC5 "Coca-Cola Fizzles, But Dr Pepper Pops" by Kristina Peterson says stocks closed down modestly, rebounding from a triple digit drop after an unexpected jump in weekly jobless claims drove the market down broadly, weighing on financials including American Express and JPMorgan Chase. Coca Cola sank after agreeing to buy most of its largest bottler, CCE, which is charted under "Good News" while Coca Cola" is charted under Bad News saying investors weren't as enthused about Coke as they were about CCE as KO took the biggest knock among the Dow. Video game and entertainment software retailer GameStop slid after its CFO said it was leaving to work for WalMart.

Bank of America BAC $16.55 +0.22 1.35% 283,967,961 NYSE: No mentions found.

Boeing BA $62.87 -0.61 0.96% 5,013,404 NYSE: WSJ pB3 "Bombardier Gets $3.1 Bil Republic Order" by Caroline Van Hasselt, Doug Cameron says this order highlights the emerging threat to the duopoly held by Airbus and Boeing in the narrow body aircraft order as Republic will be the US launch customer for Bombardier's new CSeries, providing the Canadian manufacturer with a crucial foothold in the world's largest domestic airline market before Boeing and Airbus have their own new tech offerings ready. The advanced engines and design of the CSeries take bombardier, a maker of smaller regional jets, into the 100 to 150 seat aircraft market, with a pledge to provide a significant operating cost advantage over Boeing and Airbus.

Caterpillar CAT $56.79 -0.17 0.3% 9,924,830 NYSE: No mentions found.

Chevron CVX $72.11 -0.23 0.32% 11,702,540 NYSE: No mentions found.

Cisco CSCO $24.33 -0.01 0.04% 37,048,102 NASDAQ-GS: Inv. Bus Daily pA4 "Strategic corporate Venture Push On Rise" by Brian Deagon says when AT&T announced on 2/10 it selected Alcatel-Lucent as a gear supplier for its next generation mobile broadband network, it was due to its 9900 Wireless Network Guardian product, which speeds data traffic. Alcatel-Lucent Ventures elevated the technology to a high status and brought it to market. More firms are forming venture units which are becoming more critical. Alcael-Lucent Ventures and similar units within Intel, Cisco Systems, Motorola, Best Buy and Verizon Communications function like venture capital firms as they look for fresh concepts, often outside their firm. The goal is to push a new technology forward that benefits their firm or provides a return on investment.

Coca-Cola KO $53.12 -2.04 3.7% 31,736,350 NYSE: WSJ pB3 "Coca-Cola Deal Is US Strategy Sift" by Betsy McKay, "WSJ pC10 "Coke Follows Th ePepsi Challenge" by John Jannarone says Coca-Cola's deal to buy its largest bottler will spell major changes in the way beverages reach stores and consumers in the US. CCE's N. American operations represents 75% of the Coke products sold in the US and all of its Canadian volume. The deal is a major change in a strategy the firm has used in the US since '86, when CCE was formed as a large, publicly traded firm separate from Coke. It comes as PepsiCo will buy two of its largest independent bottlers, putting pressure on Coke to make a move to gain the same competitive advantages. Coke CEO Muhtar Kent said the deal is a natural evolution needed to address changing consumer tastes, as more people reach for non carbonated drinks that aren't readily manufactured by bottlers or sold on the mass scale bottlers' distribution systems are geared to handle. The deals that Coke and Pepsi are doing will streamline costs and spur innovation and more flexible distribution of new drinks, potentially meaning lower pries and more choice for consumers.

Similar stories about Coke's deal are at: NYT pB2 "Coke Now Adopts A Move It Scorned" by Rob Cox, Wei Gu, NYT pB4 "Coke Confirms Purchase of a Bottling Unit" by Michael J. de la Merced USA Today p1B "Consumers may like Coke deal" by Bruce Horovitz, Fin Timesp19 "Coke in$12.6 bil bottling biz deal" by Jonathan Birchall, Justin Baer & Fin Times p14.

WSJ pB3 "Dr Pepper Posts Profit; Shares Rise On Coke news" by Nathan Becker says Dr. Pepper Snapple Group posted a 4Q profit, helped by wider margins, a 4% increase in sales volume and the absence of year earlier restructuring charges. Its stock jumped on the earnings and on speculation that Coca cola will have to negotiate a new distribution agreement in the wake of Coke's plan to buy up its biggest bottler, CCE. The bottler is a big distributor of the Dr. Pepper Snapple brands.

AJC pA19 "New formula for success at Coke" by Jeremiah McWilliams discusses the recent announced takeover of Coke's takeover of the N. American operations of Coca cola Enterprises. It uses a Q&Q format to discuss the deal and says the purpose of the deal is to streamline the N. American operations as consumers demand more variety and KO wants to deliver the right drinks at the right price to the right customers. There has been a long term decline in the sales of carbonated soft drinks in N. America so Coke has to become more efficient and nimble.

Disney DIS $31.36 -0.03 0.1% 10,517,034 NYSE: WSJ pB3 "UK Ehibitor Reaches Accord to Show Alice" says Britain's biggest movie exhibitor backed off a threat not to show Disney's Alice in Wonderland ending a brief standoff over how long the studio would wait before releasing the film on DVD. Odeon & UCI cinema was upset because of Disney's plan to release the film on DVD after about 3 months instead of the usual 4. The quick release to DVD hurts theatre sales.

USA Todayp7B "Alice's world looks curiouser" by Susan Wlosczyna gives a mixed review of Disney's new Tim Burton's 3D film.

DuPont DD $33.52 -0.46 1.35% 8,114,249 NYSE: No mentions found.

ExxonMobil XOM $65.14 -0.41 0.63% 25,527,645 NYSE: No mentions found.

GE $15.92 -0.20 1.24% 63,192,047 NYSE: WSJ pB4 "Toyota Way Retains Management Believers" by Daisuke Wakabayashi says Toyota Motor's vaunted business principles and philosophies have been admired and studie for years similar to the "Six Sigma" business process popularized by Ge.

Hewlett-Packard HPQ $50.92 +0.13 0.26% 12,780,474 NYSE: No mentions found.

Home Depot HD $31.36 unch unch 15,031,432 NYSE: No mentions found.

Intel INTC $20.63 -0.07 0.34% 48,440,585 NASDAQ-GS: Inv. Bus Daily pA4 "Strategic corporate Venture Push On Rise" by Brian Deagon says when AT&T announced on 2/10 it selected Alcatel-Lucent as a gear supplier for its next generation mobile broadband network, it was due to its 9900 Wireless Network Guardian product, which speeds data traffic. Alcatel-Lucent Ventures elevated the technology to a high status and brought it to market. More firms are forming venture units which are becoming more critical. Alcael-Lucent Ventures and similar units within Intel, Cisco Systems, Motorola, Best Buy and Verizon Communications function like venture capital firms as they look for fresh concepts, often outside their firm. The goal is to push a new technology forward that benefits their firm or provides a return on investment.

IBM $127.07 -0.52 0.41% 5,633,580 NYSE: No mentions found.

J.P.Morgan Chase JPM $40.64 -0.21 0.51% 46,378,693 NYSE: Fin. Times p16 "Lehman agrees JPMorgan settlement" by Suzanne Kapner says Lehman Brothers Holdings has agreed to pay JPMorgan Chase $57 mil in cash and let it keep $7.1 bil in collateral to settle claims related to Lehman's '08 bankruptcy filing.

WSJ pC5 "Coca-Cola Fizzles, But Dr Pepper Pops" by Kristina Peterson says stocks closed down modestly, rebounding from a triple digit drop after an unexpected jump in weekly jobless claims drove the market down broadly, weighing on financials including American Express and JPMorgan Chase. Coca Cola sank after agreeing to buy most of its largest bottler, CCE, which is charted under "Good News" while Coca Cola" is charted under Bad News saying investors weren't as enthused about Coke as they were about CCE as KO took the biggest knock among the Dow. Video game and entertainment software retailer GameStop slid after its CFO said it was leaving to work for WalMart.

Fin Times p26 "Jobless figures and debt woes combine to damp trading" by Masa Serdarevic says US investors were spooked yesterday by higher than expected jobless claims combined with increased concerns about the Greek sovereign debt crisis following warnings by 2 ratings agencies that the nation's long term credit ratings could be downgraded. JPMorgan was down 0.5% on its annual investor days as CEO Jamie Dimon is expected to weigh in on some of the current issuers facing the banking industry.

Johnson & Johnson JNJ $63.28 -0.17 0.27% 10,476,486 NYSE: No mentions found.

Kraft KFT $28.81 -0.24 0.83% 22,777,449 NYSE: No mentions found.

McDonald's MCD $64.38 -0.88 1.35% 8,459,163 NYSE: No mentions found.

Merck MRK $36.57 -0.36 0.97% 16,945,352 NYSE: No mentions found.

Microsoft MSFT $28.6 -0.03 0.1% 48,671,580 NASDAQ-GS: WSJ pA3 "Microsoft Battles Cyber Criminals" by Nick Wingfield, Ben Wrothen says Microsoft launced a novel legal assault to take down a global network of PCs suspeted of spreading spam and harmful computer code in fight against cyber criminals. On Mon, a fed judge in alexandria, Va. granted Microsoft's request for an order to deactivate hundreds of Internet addresses that MSFT linked to an army of tens of thousands of PCs around the globe, infected with computer code that allows them to be harnessed to spread spam, malicious virus programs and mount mass attacks to disable Web site.

Fin Times p17 "Google hits back over algorithm dispute" by Nikki Tait, Richard Wates says Google set out a defense of its system for ranking search results, as it tried to defuse questions from Europe's top antitrust regulator. Microsoft and others have complained there is a lack of transparency about how Google's algorithms works which gives Google with too much power to determine the prominence given to particular search results, haring competitors. Google's European counsel said that forcing greater transparency would exceed what regulators had required of other tech firms like Microsoft.

WSJ pB1 "As its Phones Flop, Palm Shres the Blame" by Yukari Iwatani Kane, Niraj Sheth & USA Today p3B"Slow sales of pre force Palm to cut forecast" by Edward C. Baig say Palm Inc. said its flagship Pre and Pixi devices. launched last year, aren't selling as well as it hoped and said revenue for the year in May will be well below its forecasts. Palm is preparing to launch the Pre and Pixi through At&t, the No. 2 US wireless carrier, in the next few days. Palm is being heavily challenged by the competition from Microsfot, Apple, RIM, and Google among others.

Pfizer PFE $17.69 -0.12 0.67% 53,411,386 NYSE: No mentions found.

Procter & Gamble PG $63.7 -0.19 0.3% 10,054,724 NYSE: No mentions found.

3M MMM $79.74 -0.33 0.41% 4,080,427 NYSE: No mentions found.

Travelers TRV $52.75 -0.04 0.08% 5,054,948 NYSE: No mentions found.

United Technologies UTX $68.67 +0.05 0.07% 5,886,931 NYSE: No mentions found.

Verizon VZ $28.88 -0.08 0.28% 15,772,079 NYSE: Inv. Bus Daily pA4 "Strategic corporate Venture Push On Rise" by Brian Deagon says when AT&T announced on 2/10 it selected Alcatel-Lucent as a gear supplier for its next generation mobile broadband network, it was due to its 9900 Wireless Network Guardian product, which speeds data traffic. Alcatel-Lucent Ventures elevated the technology to a high status and brought it to market. More firms are forming venture units which are becoming more critical. Alcael-Lucent Ventures and similar units within Intel, Cisco Systems, Motorola, Best Buy and Verizon Communications function like venture capital firms as they look for fresh concepts, often outside their firm. The goal is to push a new technology forward that benefits their firm or provides a return on investment.

WalMart WMT $54.15 +0.23 0.43% 13,302,787 NYSE: WSJ pB3 "WalMart Sets Plan To Cut Gas Emissions" by Miguel Bustillo, NYT pB3 "WalMart Plans to Make Its Supply Chain Greener" by Stephanie Rosenbloom, Inv. Bus. Daily pA2 say WalMart plans to cut 20 mil metric tons of greenhouse gas emissions by '15 by making its suppliers reduce the carbon footprints of their global supply chains.

WSJ pC5 "Coca-Cola Fizzles, But Dr Pepper Pops" by Kristina Peterson says stocks closed down modestly, rebuonding from a triple digit drop after an unexpected jump in weekly jobless claims drove the market down broadly, weighing on financials including American Express and JPMorgan Chase. Coca Cola sank after agreeing to buy most of its largest bottler, CCE, which is charted under "Good News" while Coca Cola" is charted under Bad News saying investors weren't as enthused about Coke as they were about CCE as KO took the biggest knock among the Dow. Video game and entertainment software retailer GameStop slid after its CFO said it was leaving to work for WalMart.
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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