2/3/10 Wed. pm Dow Closes 10,270.55 Down 26.3 or 0.26%

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Post #276 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 30component's most recent SEC filings as of 2/1/10.

The Dow Jones Industrial Average closed Wednesday at 10,270.55 down 26.3 or 0.26% from Tuesday's close of 10,296.85 . Of the 30 Dow Companies: 8 gained and 22 declined. The biggest gainer dollar-wise was McDonald's MCD $65.21 +1.18 1.84% 13,635,290 NYSE and percentage-wise was Disney DIS $30.75 +0.77 2.57% 15,934,460 NYSE. The biggest decliner dollar-wise was Chevron CVX $73.21 -1.24 1.67% 14,502,094 NYSE and percentage-wise was Pfizer PFE $18.62 -0.62 3.22% 113,821,037 NYSE.

As of the open of the market Wednesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 16.74 down from Tuesday morning's 16.50 (year ago it was 19.02) the P/E estimate is 12.99 unchanged from Tuesday's 12.99 (year ago it was 9.71) and the current dividend yield is 2.66 down from Tuesday's 2.69 (it was 3.87 a year ago).

Wednesday's Dow Jones Industrial Average closing numerator was 1,358.99 down 3.48 from Tuesday's closing Dow numerator of 1,362.47. 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 3.48 for Wednesday by the divisor you get the decrease in Wednesday's Dow close of 26.30.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was 45.30 down 0.12 from Tuesday's Dow Jones Industrial Average closing price of $45.42. The median closing price of Wednesday's Dow Jones Industrial Average was 39.51 down 0.53 from Tuesday's median closing price of 40.04. The lowest volume again was 3M MMM $81.5 +1.07 1.33% 3,399,145 NYSE and the highest volume again was Bank of Am BAC $15.53 -0.07 0.45% 128,773,875 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 lost $360 ($136,260 - $135,900).

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

AT&T T $25.58 -0.11 0.43% 22,795,456 NYSE
Alcoa AA $13.49 -0.18 1.32% 35,792,515 NYSE
American Express AXP $38.33 -0.69 1.77% 10,576,149 NYSE
Bank of America BAC $15.53 -0.07 0.45% 128,773,875 NYSE
Boeing BA $61.46 -0.48 0.77% 5,422,489 NYSE
Caterpillar CAT $53.39 -0.16 0.3% 6,312,256 NYSE
Chevron CVX $73.21 -1.24 1.67% 14,502,094 NYSE
Cisco CSCO $23.07 -0.05 0.22% 65,887,817 NASDAQ-GS
Coca-Cola KO $54.87 -0.18 0.33% 7,926,914 NYSE
Disney DIS $30.75 +0.77 2.57% 15,934,460 NYSE
DuPont DD $33.49 -0.14 0.42% 4,659,076 NYSE
ExxonMobil XOM $66.6 -0.36 0.54% 23,942,758 NYSE
GE $16.68 -0.17 1.01% 70,462,846 NYSE
Home Depot HD $28.47 -0.56 1.93% 19,297,842 NYSE
Hewlett-Packard HPQ $48.73 +0.14 0.29% 11,240,457 NYSE
Intel INTC $19.68 -0.0725 0.37% 45,243,200 NASDAQ-GS
IBM $125.66 +0.13 0.1% 4,151,874 NYSE
J.P.Morgan Chase JPM $40.29 -0.26 0.64% 37,161,930 NYSE
Johnson & Johnson JNJ $63.63 -0.36 0.56% 9,208,835 NYSE
Kraft KFT $28.48 -0.02 0.07% 27,213,726 NYSE
McDonald's MCD $65.21 +1.18 1.84% 13,635,290 NYSE
Merck MRK $38.72 -0.82 2.07% 17,393,135 NYSE
Microsoft MSFT $28.63 +0.17 0.6% 61,111,568 NASDAQ-GS
Pfizer PFE $18.62 -0.62 3.22% 113,821,037 NYSE
Procter & Gamble PG $62.65 -0.25 0.4% 10,987,137 NYSE
3M MMM $81.5 +1.07 1.33% 3,399,145 NYSE
Travelers TRV $50.57 -0.52 1.02% 3,954,389 NYSE
United Technologies UTX $68.24 +0.21 0.31% 4,148,185 NYSE
Verizon VZ $29.19 0.54 1.82% 33,534,279 NYSE
WalMart WMT $54.27 +0.78 1.46% 17,974,296 NYSE
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The following excerpts are from Wed. morning's Blog:

A read of Wednesday's print editions of: The Wall Street Journal, The Financial Times, The New York Times, Investor's Business Daily, USA Today, Atlanta Journal Constitution & (Ga.) Daily Report yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Tuesday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Tuesday at 10,296.85 up 111.32 or 1.09% from Monday's close of 10,067.33. The Dow is down 3.49% year to date.Of the 30 Dow Companies: 28 gained and 2 (DuPont and 3M) declined. The biggest gainer dollar-wise was Merck MRK $39.54 +1.24 3.24% 15,069,423 NYSE and percentage-wise was GE $16.85 0.60 3.69% 115,487,982 NYSE. The biggest decliner dollar-wise was and percentage-wise was DuPont DD $33.63 -0.03 0.09% 8,228,919 NYSE.

WSJ pC1 "DJIA Begins New Month With Bounce" by Peter A. McKay says Feb. has begun with the Dow's best 2 day winning streak since early Nov. The Dow rallied Tues driven by promising news out of the home building industry: steadying of pending sales of existing homes and a surprise profit from D.R. Horton's. Investors remain wary as they look ahead to US employment data for further confirmation that the US is improving. A report on private sector employment is due Wed, and the gov's release of monthly nonfarm payrolls is due Fri. Alcoa rose 2.3% after Citigroup global Markets raised its investment rating to buy from hold calling it attractively valued. American Express gained 2.1% after Bank of America upgraded the credit card issuer to buy from neutral.

WSJ pC11 "Horton, Home Depot Pace Sector's Gains" by Donna Kardos Yesalavich says stocks rose as unexpected rise in pending home sales and a surprise quarterly profit from builder D.R. Horton lifted other stocks connected with the housing market, including Home Depot, while a forecast from UPS also boosted sentiment. The Dow's 1.1% gain plus a 118.20 point rise on Mon, represents the first tie the Dow had 22 consecutive days of triple digit gains since early Oct. GE was the Dow's best performer up 3.7% as the economically sensitive conglomerate was boosted by the housing data and UPS's positive view.

Fin Times p28 "Positive data from industrials help to boost confidence" by Samantha Pearson says encouraging results from industrial groups and the homebuilding sector renewed investors' confidence in the economic recovery, pushing US stocks higher yesterday.

NYT pB9 "Shares Gain on Earnings Reports And Signs of Stability in Housing" by Javier. Hernandez says investors rallied on Tues behind signs of stability in the housing sector and indications that businesses had bolstered rev, lifting stocks for a second day.

USA Today p4B "Rise in contracts for homes helps stocks" by AP says better news from the housing industry, including an increase in the number of people with contracts to buy homes, sent stocks higher Tues for a second day in a row.

Inv. Bus. Daily pA1 "Stocks Climb, As Higher Vol Bolsters Advance" by Vincent Mao says stocks marched higher for the 2nd straight day Tues, amid a round of mixed earnings, a dip in the dollar and mostly upbeat housing data. The market pulse is up in higher volume and the current outlook is the market is in correction.

Tuesday's Dow Jones Industrial Average closing numerator was 1,362.47 up 14.73 from Monday's closing Dow numerator of 1,347.74. 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 14.73 for Tuesday by the divisor you get the increase in Tuesday's Dow close of 111.32.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 45.42 up 0.50 from Monday's Dow Jones Industrial Average closing price of $44.92. The median closing price of Tuesday's Dow Jones Industrial Average was 40.04. The lowest volume again was 3M MMM $MMM $80.43 -0.01 0.01% 4,669,589 NYSE and the highest volume again was Bank of Am BAC $15.6 +0.18 1.17% 171,050,602 NYSE.

If Tuesday 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 $1,500 ($136,260 - $134,760).

AT&T T $25.69 +0.31 1.22% 31,113,039 NYSE: No mentions found.

Alcoa AA $13.67 +0.31 2.32% 50,349,363 NYSE: WSJ pC1 "DJIA Begins New Month With Bounce" by Peter A. McKay says Feb. has begun with the Dow's best 2 day winning streak since early Nov. The Dow rallied Tues driven by promising news out of the home building industry: steadying of pending sales of existing homes and a surprise profit from D.R. Horton's. Investors remain wary as they look ahead to US employment data for further confirmation that the US is improving. A report on private sector employment is due Wed, and the gov's release of monthly nonfarm payrolls is due Fri. Alcoa rose 2.3% after Citigroup global Markets raised its investment rating to buy from hold calling it attractively valued. American Epress gained 2.1% after Bank of America upgraded the credit card issuer to buy from neutral.

American Express AXP $39.02 +0.81 2.12% 11,248,945 NYSE: WSJ pC1 "DJIA Begins New Month With Bounce" by Peter A. McKay says Feb. has begun with the Dow's best 2 day winning streak since early Nov. The Dow rallied Tues driven by promising news out of the home building industry: steadying of pending sales of existing homes and a surprise profit from D.R. Horton's. Investors remain wary as they look ahead to US employment data for further confirmation that the US is improving. A report on private sector employment is due Wed, and the gov's release of monthly nonfarm payrolls is due Fri. Alcoa rose 2.3% after Citigroup global Markets raised its investment rating to buy from hold calling it attractively valued. American Epress gained 2.1% after Bank of America upgraded the credit card issuer to buy from neutral.

Bank of America BAC $15.6 +0.18 1.17% 171,050,602 NYSE: Fin Times p18 "BofA to spread out bonuses over 3 years" by Greg Farrell, WSJ pB2 "BofA Pay Pool For Bankers: Over $4 Bil" by Dan Fitzparick says Bank of America approved more than $4 bil in '09 pay for its investment bankers and traders, meaning those workers will collect an average of $300,000 to $500,000 for the year. The payout is 19% of the $23 bil in rev generated by investment banking and capital markets activities.

Fin Times p1 Headline "BofA push for 2,000 more retail brokers' by Megan Murphy, Francesco Guerrera says Bank of America wants to return Merrill Lynch's Thundering Herd of retail brokers to full strength by adding as many as 2,000 people to its global wealth management division over the next year.

WSJ pC1 "Citi's Mexico Star Nears No. 1" by David Enrich says Manuel Medina-Mora head of Citi's Mexican banking group is a leading candidate to succeed Vikram Pandit as Citigroup's CEO. Citigroup's consumer banking biz in N. America is far smaller than those of Bank of America and JPMorgan Chase.

WSJ pC11 "Options Clearinghouse Revises Risk Models" by Tennille Tracy says Options Clearing Corp. has developed a new method for determining how much money it needs in case one of its members faces financial disaster. The margin deposit accounts that act as a reserve are funded by 119 firms that serve as CC members which includes Bank of America.

Boeing BA $61.94 +0.24 0.39% 7,813,700 NYSE: No mentions found.

Caterpillar CAT $53.55 +0.61 1.15% 7,647,068 NYSE: No mentions found.

Chevron CVX $74.45 +0.87 1.18% 12,842,797 NYSE: No mentions found.

Cisco CSCO $23.02 +0.29 1.28% 53,951,793 NASDAQ-GS: No mentions found.

Coca-Cola KO $55.05 +0.67 1.23% 8,426,346 NYSE: No mentions found.

Disney DIS $29.98 +0.46 1.56% 10,093,582 NYSE: The New Yorker 2/1 humor column "Shouts & Murmurs Modern Mickey" by Paul Rudnick makes fun of a recent item reported in the NYT about how Disney Plans to "reimagine" Mickey into a more cantankerous and cunning character.

USA Today p3B "Hulu cues up fro next step" by Jefferson Graham says in Dec people watched more than 1 bil videos on Hulu.com and it is growing monthly. Hulu is owned by News Corp.s 20th century Fox, Disney's ABC and GE's NBC Universal, which has agreed to merge with Comcast. Hulu has 220 content partners and last week added the NFL with classic football clips. Hulu shows movies and tv shows and Hulu surfers can do caption searches to find specific parts of shows like if you search "NBC" under Tonight Show you will find where Conan O'Brien makes fun of NBC.

DuPont DD $33.63 -0.03 0.09% 8,228,919 NYSE: No mentions found.

ExxonMobil XOM $66.96 +0.78 1.18% 33,793,591 NYSE: Inv. Bus. Daily pA1 "Exxon's Move Into natural Gas Unleashes Consolidation Debate" by Norm Alster says Exxon's buyout of XTO for $41 bi gives the gas sector a lift, but the article questions whether it will lead to other similar acquisitions. Exxon's acquisition announcement lifted shares of drillers like Devon Energy, Encana and Chesapeake Energy.

GE $16.85 0.60 3.69% 115,487,982 NYSE: WSJ pC11 "Horton, Home Depot pace Sector's Gains" by Donna Kardos Yesalavich says stocks rose as un expected rise in pending home sales and a surprise quarterly profit from builder D.R. Horton lifted other stocks connected with the housing market, including Home Depot, while a forecast from UPS also boosted sentiment. The Dow's 1.1% gain plus a 118.20 point rise on Mod, represents the first tie the Dow had 22 consecutive days of triple digit gains since early Oct. GE was the Dow's best performer up 3.7% as the economically sensitive conglomerate was boosted by the housing data and UPS's positve view.

Home Depot HD $29.03 +0.64 2.25% 19,506,404 NYSE: WSJ pC11 "Horton, Home Depot pace Sector's Gains" by Donna Kardos Yesalavich says stocks rose as un expected rise in pending home sales and a surprise quarterly profit from builder D.R. Horton lifted other stocks connected with the housing market, including Home Depot, while a forecast from UPS also boosted sentiment. The Dow's 1.1% gain plus a 118.20 point rise on Mod, represents the first tie the Dow had 22 consecutive days of triple digit gains since early Oct. GE was the Dow's best performer up 3.7% as the economically sensitive conglomerate was boosted by the housing data and UPS's positive view.

Inv. Bus. Daily pA4 "Live Person's Online Chat Talking the Growth Talk" by J. Bonasia says the firm, LivePerson, makes a software system that connects consumers to live service agents who then use online chats to resolve tech questions and increase sales. Its sales are forecast to rise 18% next year. Customers include Home Depot and Verizon Communications whose customers can go to their web sites and type in questions using LivePerson's system.

Hewlett-Packard HPQ $48.59 +0.76 1.59% 17,442,773 NYSE: No mentions found.

Intel INTC $19.91 +0.30 1.53% 61,822,051 NASDAQ-GS: No mentions found.

IBM $125.53 +0.86 0.69% 5,888,697 NYSE: Inv. Bus. Daily pA4 "disk Drive leaders Seagate, W. Digital Give Strong Outlooks" by James Detar says a rebound in the economy and PC industry puts the up and down field back up. Makers of products for large storage networks, such as EMC and IBM are again starting to buy drives.

J.P. Morgan Chase JPM $40.55 +0.92 2.32% 45,845,495 NYSE: WSJ pC1 "Citi's Mexico Star Nears No. 1" by David Enrich says Manuel Medina-Mora head of Citi's Mexican banking group is a leading candidate to succeed Vikram Pandit as Citigroup's CEO. Citigroup's consumer banking biz in N. America is far smaller than those of Bank of America and JPMorgan Chase.

Johnson & Johnson JNJ $63.99 +0.90 1.43% 13,537,707 NYSE: No mentions found.

Kraft KFT $28.5 +0.44 1.57% 21,602,802 NYSE:WSJ pB4, AJC pA10 say Cadbury PLC shareholders approved Kraft's $19.5 bil take over offer, the final step in creating the global food giant. Nearly 72% of Cad's shareholders voted in favor. Together the firms have $50 bil in annual rev with sales in 160 countries.

WSJ pB6 "Hershey Reports Profit Leaps 54%" by Anjali Cordeiro says Hersey's 4Q profit jumped 54% due to better pricing and improved supply chain efficiences but it is facing growing competition from its larger rivals such as Mars which bought Wm. Wrigley in '08 and now Kraft's takeover of Cadbury.

McDonald's MCD $64.03 +0.14 0.22% 7,257,925 NYSE: No mentions found.

Merck MRK $39.54 +1.24 3.24% 15,069,423 NYSE: No mentions found.

Microsoft MSFT $28.46 +0.05 0.18% 54,070,019 NASDAQ-GS: WSJ pB8 "Italy Set to Extend TV Rules to Web videos" by Stacy Meichtry, Giada Zampano says Italy's gov is going to extend TV broadcasting regs to Web sites that host videos, marking one of the most sweeping attempts by a Western gov to tighten control over the use of video on the Internet. This would force sites like Googe's YouTube to opeate more like traditional TV broadcasters. The Italian plan is the first time a European gov has tried to hold Internet firms responsible for content generated by users per a spokesman for the European Digital Media Assoc, a trade group whose members include Google, Yahoo, Amazon and Microsoft, which opposes the law.

Pfizer PFE $19.24 +0.45 2.39% 67,350,089 NYSE: No mentions found.

Procter & Gamble PG $62.9 +0.91 1.47% 17,611,475 NYSE: NYT pB3 "A Clean Break With Staid Detergent Ads" by Stuart Elliott says Laundry detergents ad budgets have financed decades of soap operas and women's magazines and coupon inserts by it is emblematic of what is known a a low interest category, a marketing term that means most consumers are bored by the category. One reason it is such a boring category is that the leader, Procter & Gamble, won in the US over its 2 longtime nemeses, Colgate-Palmolive and Unilever with such a lead with brands like Tide and cheer that the two rivals left the field and sold rights to their brands, such as Ajax, All Dynamo, Fab, Surf and Wisk to other firms. but the recent economic woes have spurred sales of lower price products from marketers like Arm & hammer and the dial division of Henke. Also, detergents meant to be environmentally friendly have been gaining favor among them brands like Green Works, from Clorox, Seventh Generation; and Vaska.

3M MMM $80.43 -0.01 0.01% 4,669,589 NYSE: WSJ pB6 "Weak Outlook for New Hiring" by Paul Vigna, John Shipman says because consumer spending is still down, there is little optimism in the outlook of big employers regarding employment overall. #M CEO George Buckley is quoted as saying only increased consumer spending will entice firms to hire but it is a chicken and egg dilemma.

Travelers TRV $51.09 +0.40 0.79% 5,630,171 NYSE: No mentions found.

United Technologies UTX $68.03 +0.48 0.71% 6,121,265 NYSE: No mentions found.

Verizon VZ $29.73 +0.12 0.41% 16,497,701 NYSE: Inv. Bus. Daily pA4 "Live Person's Online Chat Talking the Growth Talk" by J. Bonasia says the firm, LivePerson, makes a software system that connects consumers to live service agents who then use online chats to resolve tech questions and increase sales. Its sales are forecast to rise 18% next year. Customers include Home Depot and Verizon Communications whose customers can go to their web sites and type in questions using LivePerson's system.

WalMart WMT $53.49 +0.01 0.02% 11,378,824 NYSE: No mentions found.
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Here are the current CEOs of the Dow 30 Companies:

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

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of 2/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $318 [5]
2. Microsoft MSFT 252 [9]
3. WalMart WMT 203 [4]
4. Chevron CVX 180 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 174 [3]
7. GE 173 [10.5]
8. IBM 164 [1.5]
9 JPMorgan Chase 156 [4]
10. Pfizer PFE 152 [8]
11. AT&T 150 [6]
12. BAC 134 [8.5]
13. Cisco CSCO 131 [6]
14. Coke KO 126 [2]
15. Hewlett-Packard HPQ 113 [2]
16. Intel INTC 108 [5.5]
17. McDonald's MCD 106 [1.5]
18. Verizon VZ 84 [3]
19. Merck MRK 81 [2]
20. United Technologies UTX 63 [1]
21. 3M MMM 57 [.5]
22. Disney DIS 57 [2]
23. Home Depot 48 [2]
24. American Express AXP 45 [1]
25. Boeing BA 45 [1]
26. Kraft KFT 41 [1.5]
27. Caterpillar CAT 33 [.5]
28. DuPont DD 30 [1]
29. Travelers 28 [.5]
30. Alcoa AA 13 [1]

Here are the latest SEC filings as of 2/1/10 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses and, except for certain cases, I do not include third party shareholder proposals:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

T AT&T: 1/29/10 8K re: 29,500 employees represented by Communications Workers of America District 3 failed to ratify the tentative labor agreement announced on December 14, 2009.

1/28/10 8K re: 4Q earnings were $0.51 per diluted share compared with $0.41 per share for the 4Q '08. 4Q net income was $3.0 bil compared with $2.4 bil for 4Q '08. Reported earnings for the full year '09 were $2.12 per diluted share, down from $2.16 per share for the full year '0 &net income for '09 was $12.5 bil, down from $12.9 bil for '08.

Alcoa AA: 1/27/10 8K re: contributions to pension plan of stock.

1/25/10 8K re: quarterly dividend on Alcoa’s common stock and preferred stock and that a contribution was authorized of up to $600 million in Alcoa common stock to Alcoa’s defined benefit pension plans.

1/12/10 8K re: Alcoa finished its 4Q '08 free cash flow positive, the first such quarterly achievement since 2Q '08. In 4Q '09, Alcoa generated free cash flow of $761 million, a $947 million improvement from 3Q '09 driven by strong cash from operations performance of $1.1 billion, a $940 million increase from the third quarter of 2009.

American Express AXP: 1/25/10 8K re: increases to the annual base salaries Kenneth I. Chenault, Chairman & CEO from $1,250,000 $2,000,000; Edward P. Gilligan, Vice Chairman from $1,100,000 to $1,450,000; Stephen J. Squeri, Group President – Global Services & Chief Information Officer from $750,000 to $1,000,000; and Daniel T. Henry, Exec. VP & CFO from $700,000 to $850,000.

1/21/10 8K re: 4Q EPS of $0.59, up from $0.26 a year ago & other fin'l results.

1/15/10 8K re: owned and managed basis delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months of Oct., Nov. and Dec. '09.

Bank of Am BAC: 1/20/10 8K re: '09 net income of $6.3 bil, compared with net income of $4.0 bil '08. Including preferred stock dividends & the negative impact from the repayment of the U.S. gov’s $45 billion preferred stock investment in the company under the Troubled Asset Relief Program, income applicable to common shareholders was a net loss of $2.2 billion, or $0.29 per diluted share.

1/15/10 8K re: Brian Moynihan, CEO's new senior management team: Steele Alphin, chief admin. officer; Cathy Bessant, Global Technology & Operations exec, David Darnell, pres. of Global Commercial Banking; Barbara Desoer, pres. of Home Loans & Insurance; Anne Finucane, global strategy & marketing officer; Sallie Krawcheck, pres. of Global Wealth & Investment Management; Tom Montag, pres. Global Banking & Markets; Ed O’Keefe, gen'. counsel; Joe Price, president of Consumer, Small Business & Card Banking; Neil Cotty interim CFO; Bruce Thompson chief risk officer; & Greg Curl will focus on key strategic partnerships critical to BAC’s global capabilities.

12/17/09 8K re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.

Boeing BA: 1/27/10 8K re: 4Q '09 results: rev grew to $17.9 bil & operating margin grew to 9.4% with net income of $1.75 per share. Operating cash flow increased to $3.2 bil.

Caterpiller CAT: 1/27/10 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.
12/15/09 8K re: amendments to Bylaws.

1/27/10 8K re: sales & rev of $32.39 bil for '09, a decrease of 37% from $51.32 biln in '08. Profit per share was $1.43, down 75%. 4Q sales & rev. were $7.9 bil, down 39% from 4Q '08. Profit per share for 4Q was $0.36, down 67% from 4Q '08.

Chevron CVX: 1/29/10 8K re: earnings for 4Q '09: net income was $3.1 bil, down 37% from $4.9 bil in 4Q '08.

12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.

Cisco CSCO: 11/25/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.

Coke KO: 10/29/09 10QA

Disney DIS: 1/22/10 Proxy Statement for '10 Annual Meeting of shareholders, which will be held on Wednesday, 3/10/10 at 10 a.m. at the JW Marriott San Antonio Hill Country in San Antonio, Texas.

1/12/10 8K re: new form of agreement for the award of stock units and stock options awarded to executive officers.

1/4/10 8K re: new employment agreement with James A. Rasulo and amendment of employment agreement with Thomas O. Staggs. Rasulo will serve as Sr. EVP & CFO with an annual salary of $1,400,000.

DuPont DD: 1/26/10 8K re: 4Q EPS of $.48 compared to a 4Q '08 loss of $.70 per share. Sales of $6.4 bil were up 10% vs prior year, led by sales growth greater than 20% for titanium dioxide, electronic materials, performance polymers & seed products.

ExxonMobil XOM: 2/1/10 8K re: 4Q results: earnings were $6,050 mil, a decrease of 23% or $1,770 mil from 4Q '08. EPS were $1.27, a decrease of 18%. Capital & exploration expenditures were $8.3 bil, up 21% from the 4Q '08.

GE: 1/22/10 8K re: 4Q ’09 EPS of $0.28; FY ’09 EPS of $1.03; rev of $41.4 bil for Quarter; $157 bi for Year.

12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.

Hewlett-Packard HPQ: 1/27/10 Def. Proxy Statement re: annual stockholders meeting on 3/1710 at 2 pm at Computer History Museum, 1401 N. Shoreline Boulevard, Mountain View, Cal.

1/27/10 8K re: Electronic Data Systems Corporation, which HP acquired in '08 is a defendant in litigation filed in the United Kingdom by Sky Subscribers Services Limited and British Sky Broadcasting Limited in '04 alleging deceit, negligent misrepresentation, negligent misstatement and breach of contract. On 1/26/10, the court issued a decision finding EDS UK liable to BSkyB for deceit in one area of the claim, for negligent misrepresentation and negligent misstatement in another area of the claim, and for breach of contract. The court also dismissed all of BSkyB’s other claims. The court will issue a final quantification of damages at a later date. HP plans to appeal.

Home Depot HD: 12/3/09 10Q

Intel INTC: 1/25/10 8K re: promotions of Renee J. James, Thomas M. Kilroy, Brian M. Krzanich & Stacy J. Smith to sr. vp.

1/15/10 8K re: 4Q earnings of revenue of $10.6B, up 13% sequentially; nearly twice the average seasonal sequential growth seen in 4Q; gross margin of 64.7% was a record, and up 7 points compared to 3Q; operating income of $2.5B was down 3% sequentially, and up 62% from a year ago. Net income of $2.3B was up 23% sequentially, and up 875% from a year ago.

12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.

IBM: 1/29/10 8K re: compensation for its top 5 execs.

1/19/10 8K re: Record diluted earnings per share of $10.01, up 13%; 7th consecutive year of double-digit EPS growth; record net income of $13.4 bil, up 9%; gross profit margin of 45.7%, 6th consecutive year of increase; record free cash flow of $15.1 bil, up $0.8 bil.

JPMorganChase JPM: 1/25/10 8K re: amendments to By-laws re: special meetings of stockholders.

1/19/10 8K re: 4Q results.

Kraft KFT: 2/1/10 8K re: further details about the dealing facilities that will be available to accepting Cadbury Securityholders who hold their Cadbury Shares or Cadbury ADSs in certificated form.

1/27/10 8K re: Kraft reduced the number of acceptances required to fulfil the Acceptance Condition of the recommended Final Offer for Cadbury from 90% to 50% plus one Cadbury Share.

1/12/10 8K re: increase of guidance for '09 diluted earnings per share to at least $2.00 versus the previous expectation of at least $1.97.1 reflecting strong operating gains & a significant increase in marketing investments versus the prior year.

12/22/09 8K re: amendment of By-Laws to expand the Board to twelve members and appointment of Mackey J. McDonald & Jean-Francois M. L. van Boxmeer as directors, effective January 1, 2010. Mr. McDonald will serve on the Audit Committee, and Mr. van Boxmeer will serve on the Public Affairs Committee.

McDonalds MCD: 1/26/10 8K re: compensation to execs.

1/22/10 8K re: '09 results: global comparable sales increase of 3.8%, fueled by the U.S. 2.6%, Europe 5.2% & Asia/Pacific, Middle East & Africa 3.4%; growth in McDonald’s combined operating margin to 30.1%; consolidated operating income increase of 6% (10% in constant currencies) over the prior year; earnings per share of $4.11, up 9% over the prior year; & return of $5.1 bil to shareholders through shares repurchased & dividends paid, bringing the 3-year total to
$16.6 bil under MCD’s $15 bil to $17 bil cash return to shareholders target for '07 through '09.

1/15/10 8K re: Donald Thompson elected Pres. & Chief Operating Officer. He's been with McDonald's for 19 years.

12/23/09 8K re: am agreement re: the retirement of Ralph Alvarez, President and Chief Operating Officer.

Merck MRK: 11/18/09 8KA amending financial stmts re: the earlier announcement of the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.

Microsoft MSFT: 1/28/10 10Q.

1/28/10 8K re: record revenue of $19.02 bil for 2Q ended 12/31/09, a 14% increase from the same period of the prior year. Operating income, net income & diluted earnings per share for the quarter were $8.51 bil, $6.66 bil & $0.74 per share, which represented increases of 43%, 60% and 57%, respectively, when compared with the prior year period.

12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.

Pfizer PFE: 12/16/09 8K re: amendment of bylaws & change in fiscal year.

Procter & Gamble PG: 1/28/10 8K re: net sales growth of 6% for the October - December quarter to $21.0 bil. Organic sales grew 5%. Diluted net earnings per share were $1.49.

1/28/10 10Q

1/12/10 8K re: quarterly dividend of $0.44 per share on the Common Stock & on the Series A & Series B ESOP Conv. Class A Pref. Stock, payable 2/16/10 with record date of 1/22/10, which is its consistent dividend since incorporation in 1890. 4 bil times a day, P&G brands are sold globally, products include Pampers, Tide, Ariel, Always, Whisper, Pantene, Mach3, Bounty, Dawn, Gain, Pringles, Charmin, Downy, Lenor, Iams, Crest, Oral-B, Duracell, Olay, Head & Shoulders, Wella, Gillette, Braun Fusion. P&G has 135,000 employees in 80 countries.

1/8/10 8K re:changes to its segment reporting structure & agreement to sell its global pharmaceuticals business to Warner Chilcott plc.

12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.

12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.

12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.

3M MMM: 1/28/10 8K re: 4Q earnings of $1.30 per share on sales of $6.1 bil, with operating income margins of 21.9%. Sales & per-share earnings increased 11.1% & 69% year-on-year, respectively. Profits grew at double-digit rates in each of the company’s six business segments and in all geographic regions. Free cash flow for 4Q grew by 16% to $770 million. 3M '09 sales of $23.1 bil & earnings per share of $4.52, down 8.5% & 7.6% respectively. Excluding special items, '09 earnings declined 9.3%to $4.69 per share.

Travelers TRV: 1/26/10 8K re: net income of $1.285 bil, or $2.36 per diluted share, for the quarter ended 12/31/09, compared to $801 mil, or $1.35 per diluted share, for the quarter ended 12/3108. Operating income in the current quarter was $1.155 bil, or $2.12 per diluted share, compared to $939 mil, or $1.58 per diluted share, in the prior year quarter.

United Technologies UTX: 1/27/10 8K re: 4Q '09 earnings per share of $1.15 & net income attributable to common shareowners of $1.1 bil, down 7% and 6%, respectively, over the year ago quarter. Consolidated revenues for the quarter of $14.1 billion were 5% below prior year.

Verizon Communications Inc. VZ: 1/26/10 8K re: Consolidated cash flow growth in 4Q '09: $31.6 bil in cash flow from operations in '09, up $4.0 bil, or 14.5 percent, from '08 & other financial results inlcuding a loss of 23 cents per share and adjusted earnings of 54 cents per share, compared with 4Q '08 EPS of 43 cents and 61 cents, respectively.

WalMartWMT: 1/28/10 8K re: business restructurings to leverage operating expenses consistent with its priorities of growth, leverage and returns. These include the closure of 10 Sam’s Clubs announced on 1/11/10, the elimination of Sam’s Club new business membership representatives, the new operations structure for Walmart U.S.; the integration of the Puerto Rican operations into Walmart U.S. and Sam’s Club.
The net impact from the charges for these business restructurings on 4Q earnings for fiscal year 2010 is estimated to be 0.04 per share. Walmart will announce fourth quarter earnings before the market opens on February 18, 2010.

12/8/09 10Q