3/16/10 Tues. pm Dow Closes 10,685.98 up 43.83 or 0.41%

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Post #345. 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 3/1/10 and an update of the Dow 30 component's most recent SEC filings as of 3/1/10.

The Dow Jones Industrial Average closed Tuesday at 10,685.98 up 43.83 or 0.41% from Monday's close of 10,624.159. Of the 30 Dow Companies: 23 gained, Pfizer was unchanged and 6 declined. The biggest gainer dollar-wise and percentage-wise was GE $18.07 +0.78 4.51% 227,591,416 NYSE. The biggest decliner dollar-wise and percentage-wise was Boeing BA $68.72 -0.68 0.98% 7,489,055 NYSE.

As of the open of the market Tuesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132319125 unchanged, the trailing P/E ratio is 16.59 up from Monday's P/E ratio of 16.56 (year ago it was 23.93) the P/E estimate is 13.56 unchanged from Monday's P/E estimate of 13.56 (year ago it was 11.01) and the current dividend yield is 2.56 up from Monday's dividend yield of 2.57 (it was 4.30 a year ago).

Tuesday's Dow Jones Industrial Average closing numerator was 1413.96 up 5.80 from Monday's closing Dow numerator of 1,408.16. 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 5.80 for Tuesday by the divisor you get the increase in Tuesday's Dow close of 43.83. 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 Tuesday's Dow Jones Industrial Average was $47.13 up 0.20 from Monday's Dow Jones Industrial Average closing price of $46.94. The median closing price of Tuesday's Dow Jones Industrial Average was 42.08 up 0.22 from Monday's median closing price of 41.86. The lowest volume was Travelers TRV $52.85 +0.12 0.23% 4,126,236 NYSE and the highest volume again was Bank of America BAC $17.03 +0.18 1.07% 107,209,451 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 $570 ($141,390 - $140,820).

Market Watch Tuesday 3/16/10 4:30 pm by Kate Gibson says U.S. stocks rose on Tuesday, propelling the S&P 500 Index to a fresh 17-month high, after the Federal Reserve said it would keep its key interest rate low for an extended time, supporting a rally in financial shares.The S&P 500 Index (SPX 1,159, +8.95, +0.78%) added 8.95 points, or 0.8%, to 1,159.46, its highest finish since early October 2008. Natural-resource companies and financials led the gains that extended to all 10 of the index's industry groups.

The Nasdaq Composite Index (COMP 2,378, +15.80, +0.67%) climbed 15.8 points, or 0.7%, to 2,378.01. Zions Bancorp (ZION 22.20, -0.02, -0.09%) and Citigroup Inc. (C 4.04, -0.01, -0.25%) fronted gains among banks after the Fed kept rates near 0% and reiterated low rates remain necessary, despite a recovering economy. While the Fed was widely expected to keep its target rate for overnight loans between zero and 0.25%, analysts combed the central bank's accompanying policy statement for clues as to the timing of future rate-hike moves. Any differences in the Fed's wording that signaled the central bank would hike rates sooner rather than later could have sparked selling of equities, given that higher rates translate to increased borrowing costs and typically hinder economic growth.Strengthening in the final 30 minutes of trade, the Dow Jones Industrial Average (INDU 10,686, +43.76, +0.41%) extended its winning run to a sixth consecutive session. The blue-chip average rose 43.83 points, or 0.4%, to 10,685.98, with 23 of its 30 components advancing, led by General Electric Co. (GE 18.03, -0.04, -0.22%). Its shares gained 4.5% after the company's CFO said he expects the conglomerate's earnings and dividend to climb next year. Also boosting the Dow, Intel Corp. (INTC 22.06, +0.05, +0.23%) rose 4% after the technology bellwether released its newest server chips. On the New York Stock Exchange, advancers led decliners nearly 3-to-1, with composite trading volume topping 4.5 billion shares. The dollar weakened against the euro after S&P opted not to downgrade Greece, a step the rating agency last month warned was under consideration.The Fed is leaving rates unchanged, but that means they'll eventually go up and markedly so. Ahead of Tuesday's open, the Commerce Department reported new-home construction fell 5.9% to a seasonally adjusted annual rate of 575,000. The January count was revised up to a pace of 622,000 units. In a separate report, the Labor Department said the price of imports declined 0.3% in February, the first drop in seven months. A standout among retailers was Limited Brands Inc. (LTD 24.71, +1.00, +4.22%) , shares of which rose 4.2%. The company declared a special dividend of $1 a share and said it would repurchase up to $200 million in stock. The dollar's slide against the euro and other major currencies boosted commodities including gold and oil, making them less costly to foreign buyers. Shares of natural-resource companies also rose, with Cliffs Natural Resources Inc. (CLF 66.32, +0.05, +0.08%) up 4.9% and Newmont Mining Corp. (NEM 51.26, -0.08, -0.16%) gaining 3.2%

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

AT&T T $25.85 +0.07 0.27% 17,593,830 NYSE
Alcoa AA $13.8 +0.29 2.15% 30,712,637 NYSE
American Express AXP $40.92 +0.22 0.54% 5,793,272 NYSE
Bank of America BAC $17.03 +0.18 1.07% 107,209,451 NYSE
Boeing BA $68.72 -0.68 0.98% 7,489,055 NYSE
Caterpillar CAT $59.45 -0.02 0.03% 7,280,757 NYSE
Chevron CVX $73.98 +0.41 0.56% 9,827,776 NYSE
CSCO $26.15 +0.07 0.27% 53,800,304 NASDAQ-GS
Coca-Cola KO $53.7 +0.05 0.09% 11,141,824 NYSE
Diseny DIS $33.75 +0.03 0.09% 8,472,594 NYSE
duPont DD $35.94 +0.46 1.3% 5,626,015 NYSE
ExxonMobil XOM $66.57 +0.27 0.41% 34,804,076 NYSE
GE $18.07 +0.78 4.51% 227,591,416 NYSE
HPQ $52.35 -0.07 0.13% 11,305,994 NYSE
HD $32.55 -0.14 0.43% 13,690,270 NYSE
INTC $22.01 +0.84 3.97% 122,867,997 NASDAQ-GS
IBM $128.67 +0.84 0.66% 6,132,955 NYSE
J.P.Morgan JPM $43.24 +0.17 0.39% 28,529,061 NYSE
Johnson & Johnson JNJ $64.53 -0.04 0.06% 8,880,469 NYSE
Kraft KFT $29.69 +0.13 0.44% 11,357,412 NYSE
McDonald's MCD $66.07 +0.14 0.21% 5,704,383 NYSE
Merck MRK $37.94 +0.19 0.5% 18,267,665 NYSE
Microsoft MSFT $29.37 +0.08 0.27% 36,616,244 NASDAQ-GS
Pfizer PFE $17.26 unch unch 52,976,133 NYSE
Procter & Gamble PG $63.53 -0.17 0.27% 8,938,440 NYSE
3M MMM $81.66 +0.40 0.49% 4,242,139 NYSE
Travelers TRV $52.85 +0.12 0.23% 4,126,236 NYSE
United Technologies UTX $72.4 +0.56 0.78% 5,154,284 NYSE
Verizon VZ $29.93 +0.07 0.23% 12,869,944 Dual Listed
WalMart WMT $55.99 +0.57 1.03% 18,446,389 NYSE
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The following are excerpts from Tues. morning's Blog:

The Dow Jones Industrial Average closed Monday at 10,642.15 up 17.46 or 0.16% up from Friday's close of 10,624.69. For the year the Dow is up 2.05%. Of the 30 Dow Companies: 18 gained, BofA was unchanged and 11 declined. The biggest gainer dollar-wise and percentage-wise was WalMart WMT $55.42 +1.52 2.82% 24,252,123 NYSE. The biggest decliner dollar-wise and percentage-wise was Caterpillar CAT $59.47 -0.89 1.47% 7,876,309 NYSE.

WSJ pC1 "DJIA Notches A 5th Gain: Fed to Meet" by Peter A. McKay says an analyst upgrade of WalMart Stores & a partial comeback in the financial sector Mon. afternoon helped the stock market post a 5th consecutive rise ahead of today's Fed. Reserve rate policy meeting. The strongest stock by far was WalMart, up 2.8% after Citigroup upgraded it to bu from hold, predicting more aggressive pricing.

WSJ pC5 "Walmart Gets Upgrade, Paces Dow" by Donna Kardos Yesalavich says stocks ended slightly higher, despite declines in Caterpillar & Exxon Mobil on concerns about the global economy, as Walmart Stores led strong gains in the consumer staples sector following an analyst's rating upgrade. Chevron dropped 0.2%. Walmart is charted under "good news" says Citigroup upgraded it to buy saying it appears to be lacing up the gloves in its battle for supermarket supremacy.

Fin. Times p24 "Rise in industrial output bolsters gains for S&P 500" by Masa Serdarevic says US stocks closed broadly higher on the session yesterday following Sen. Chris Dodd's presentation of the finalized version of his fin'l regulation reform bill, but fears that the Chinese gov. would ramp up its monetary tightening efforts following comments by Wen Jiabao, Chinese premier, over the weekend weighted down on sentiment.

NYT pB8 "A Volatile Day Ends With Mixed Results" by Javier C. Hernandez says uncertainty seemed to greet investors whereever they turned on Mon. A ratings agency said the US might lose its top flight credit status. China stood by plans to keep monetary policy tight. And lawmakers were again debating how to regulate banks.

USA Today p4B "Dow, S&P rise before Fed's meeting" & AJC pA9 both by AP (same story, different headlines) say "Investors await news on rates" says investors turned cautious Mon. ahead of the Fed Reserve's meeting on interest rates. Major stock indexes closed narrowly mixed after trading lower for most of the day. an analyst upgrade of Wal-Mart Stores helped lift the Dow.

says By Kate Gibson -- U.S. stocks tilted higher at Monday's close after a late-session reversal had gains in consumer-related shares offsetting declines in the energy sector. Up for a fifth consecutive session, the Dow Jones Industrial Average (INDU 10,642, +17.61, +0.17%) rose 17.46 points, or 0.2%, to end at 10,642.15. The S&P 500 Index (SPX 1,151, +0.52, +0.05%) added half a point to 1,150.51, while the Nasdaq Composite Index (COMP 2,362, -5.45, -0.23%) shed 4.45 points, or 0.2%, to 2,362.21.

AT&T T $25.76 +0.14 0.55% 18,985,494 NYSE: AJC pA7 "Brave new world in wireless" by Henry Unger says as the exclusive US network for the Apple iPhone crowd please, Atlanta based At&T Mobility has enjoyed the benefits of millins of new customers. At the same time, the network ahs been so overwhelmed that the firm has scored poorly in some customer satisfactions urveys.

Alcoa AA $13.51 -0.09 0.66% 23,373,763 NYSE: No mentions found.

American Express AXP $40.7 -0.06 0.15% 6,968,838 NYSE: No mentions found.

Bank of America BAC $16.85 unch unch 119,034,804 NYSE: No mentions found.

Boeing BA $69.4 -0.43 0.62% 7,689,892 NYSE: "Winds of Change for Boeing, Airbus" by Peter Sanders, Daniel Michaels says for years Airbus and Boeing have split the market for big passenger jets. But a series of shifts in the sector could start to erode that dominance, leading to big changes in the commercial aircraft industry. The duopoly is being threatened by increased competition from firms such as Canada's Bombardier and Brazil's Embraer. Airlines want more fuel efficient planes just as upstart manufacturers have begun producing rival jets.

Caterpillar CAT $59.47 -0.89 1.47% 7,876,309 NYSE: WSJ pC5 "Walmart Gets Upgrade, Paces Dow" by Donna Kardos Yesalavich says stocks ended slightly higher, despite declines in Caterpillar & Exxon Mobil on concerns about the global economy, as Walmart Stores led strong gains in the consumer staples sector following an anlyst's rating upgrade. Chevron dropped 0.2%. Walmart is charted under "good news" says Citigroup upgraded it to buy saying it appears to be lacing up the gloves in its battle for supermarket supremacy.

Chevron CVX $73.57 -0.15 0.2% 8,792,788 NYSE: WSJ pC5 "Walmart Gets Upgrade, Pces Dow" by Donna Kardos Yesalavich says stocks ended slightly higher, despite declines in Caterpillar & Exxon Mobil on concerns about the global economy, as Walmart Stores led strong gains in the consumer staples sector following an anlyst's rating upgrade. Chevron dropped 0.2%. Walmart is charted under "good news" says Citigroup upgraded it to buy saying it appears to be lacing up the gloves in its battle for supermarket supremacy.

Cisco CSCO $26.08 +0.20 0.77% 36,611,061 NASDAQ-GS: WSJ pA8 "Broadband Plan Faces Hurdles" by Amy Schatz says Fed regulators detailed a $20 bil, 10 year plan to ensure all US households access to high speed Internet services, but the proposal faces resistance from industry groups and possible questions from lawmakers over how to pay for it. Jeff Campbell, senior director of tech and trade policy at Cisco systems offered a generally positive view of the plan but said he was concerned about increasing regulation on things that don't need to be fixed.

Coca-Cola KO $53.65 +0.30 0.56% 11,924,866 NYSE: No mentions found.

Disney DIS $33.72 +0.03 0.09% 8,225,354 NYSE: No mentions found.

DuPont DD $35.51 +0.02 0.06% 6,621,954 NYSE: No mentions found.

ExxonMobil XOM $66.3 -0.50 0.75% 21,998,304 NYSE: WSJ pC5 "Walmart Gets Upgrade, Paces Dow" by Donna Kardos Yesalavich says stocks ended slightly higher, despite declines in Caterpillar & Exxon Mobil on concerns about the global economy, as Walmart Stores led strong gains in the consumer staples sector following an anlyst's rating upgrade. Chevron dropped 0.2%. Walmart is charted under "good news" says Citigroup upgraded it to buy saying it appears to be lacing up the gloves in its battle for supermarket supremacy.

GE $17.29 +0.25 1.47% 117,630,624 NYSE: No mentions found.

Hewlett-Packard HPQ $52.42 +0.06 0.11% 10,207,619 NYSE: No mentions found.

Home Depot HD $32.69 +0.24 0.74% 12,037,028 NYSE: No mentions found.

Intel INTC $21.17 -0.10 0.47% 34,174,460 NASDAQ-GS: No mentions found.

IBM $127.83 -0.11 0.09% 4,483,016 NYSE: No mentions found.

J.P.Morgan Chase JPM $43.07 -0.08 0.19% 28,716,317 NYSE: No mentions found.

Johnson & Johnson JNJ $64.57 +0.39 0.61% 7,409,397 NYSE: No mentions found.

Kraft KFT $29.54 +0.09 0.31% 9,501,944 NYSE: Fin Times p12 "A history lesson for Kraft's leaders" by Stefan Stern says Marc Firestone, exec vp for corporate and legal affairs at Kraft will appear today before the House of Commons business, innovation and skills select committee. The article tells a story about how Boots the Chemist, a cherished British firm was taken over by Liggett's United Drug Co. in 1920 but staff and shareholders were so upset about it forced the Americans to sell it back to British ownership. "Maybe its true the market has no memory" but as George Santayana put it: "Those who cannot remember the past are condemned to repeat it."

Mcdonald's MCD $65.93 +0.40 0.61% 5,697,491 NYSE: No mentions found.

Merck MRK $37.75 +0.59 1.59% 17,259,688 NYSE: No mentions found.

Microsoft MSFT $29.29 +0.02 0.07% 37,218,538 NASDAQ-GS: WSJ pB1 "Google Exit Would Open the Door for Microsoft" by Georffrrey A. Fowle, Loretta Chao says if Google decides to close its search engine in China, MSFT's Bing search engine wold be the beneficiary as it has struggled to gain traction in China. Microsoft has already hired away at least 3 people from Google's China business.

Pfizer PFE $17.26 +0.18 1.05% 43,819,809 NYSE: AJc pA8 "High dose of Lipitor cuts stroke risks< Pfizer says" says a new report said a high dose of cholesterol pill Lipitor lowers risk for heart attack and stroke in some patients with both heart disease & Kidney disease.

Procter & Gamble PG $63.7 +0.38 0.6% 7,644,350 NYSE: No mentions found.

3M MMM $81.26 -0.12 0.15% 2,607,850 NYSE: No mentions found.

Travelers TRV $52.73 -0.43 0.81% 4,873,183 NYSE: No mentions found.

United Technologies UTX $71.84 +0.31 0.43% 5,456,415 NYSE: No mentions found.

Verizon VZ $29.86 +0.13 0.44% 12,472,161 Dual Listed: No mentions found.

WalMart WMT $55.42 +1.52 2.82% 24,252,123 NYSE: WSJ pB3 "WalMart to Expand Its Fin'l Services" by Karen Talley says WMT, years after a failed effort to obain a bank charter, plans a 50% increase this year in the number of the firm's stores offering bank like services. It will push the number of "Money Centers" in its stores to 1,500, about one for every two WalMarts in the US as WalMart plans to open its 1,000 money center Tues.

WSJ pC5 "Walmart Gets Upgrade, Paces Dow" by Donna Kardos Yesalavich says stocks ended slightly higher, despite declines in Caterpillar & Exxon Mobil on concerns about the global economy, as Walmart Stores led strong gains in the consumer staples sector following an anlyst's rating upgrade. Chevron dropped 0.2%. Walmart is charted under "good news" says Citigroup upgraded it to buy saying it appears to be lacing up the gloves in its battle for supermarket supremacy.

WSJ pC1 "DJIA Notches A th Gain: Fed to Meet" by Peter A. McKay says an analyst upgrade of WalMart Stores & a partial comeback in the financial sector Mon. afternoon helped the stock market post a 5th consecutive rise ahead of today's Fed. Reserve rate policy meeting. The strongest stock by far was WalMart, up 2.8% after Citigroup upgraded it to bu from hold, predicting more aggressive pricing.

AJC pA9 by AP "Investors await news on rates" says investors turned cautious Mon. ahead of the Fed Reserve's meeting on interest rates. Major stock indexes closed narrowly mixed after trading lower for most of the day. an analyst upgrade of Wal-Mart Stores helped lift the Dow.
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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 3/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $314 [5]
2. Microsoft MSFT 258 [9]
3. WalMart WMT 205 [4]
4. Chevron CVX 178 [2.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 175 [3]
7. GE 170 [10.5]
8. IBM 167 [1]
9 JPMorgan Chase 164 [4]
10. AT&T 148 [6]
11. BAC 145 [8.5]
12. Pfizer PFE 143 [8]
13. Cisco CSCO 142 [6]
14. Coke KO 123 [2]
15. Hewlett-Packard HPQ 121 [2]
16. Intel INTC 115 [5.5]
17. McDonald's MCD 106 [1.5]
18. Verizon VZ 82 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 61 [2]
22. 3M MMM 57 [.5]
23. Home Depot 53 [2]
24. Boeing BA 48 [1]
25. American Express AXP 45 [1]
26. Kraft KFT 42 [1.5]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 31 [1]
29. Travelers 27 [.5]
30. Alcoa AA 14 [1]

Here are the latest SEC filings as of 3/1/10 market close 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: 2/25/10 10K Annual Report

Alcoa AA: 2/23/10 8K re: Personnel Changes

2/19/10 Prelim. Proxy on Form 14A

2/18/10 10K Annual Report

American Express AXP: 2/26/10 10K Annual Report

Bank of Am BAC: 2/26/10 10K Annual Report

2/26/10 Prelim, Proxy Statement on Form 14A

Boeing BA: 2/26/10 8K re: departure and compensation of certain officers

2/8/10 10K Annual Report

Caterpiller CAT: 2/19/10 10K Annual Report

Chevron CVX: 2/25/10 10K Annual Report

Cisco CSCO: 2/17/10 10Q Quarterly Report

Coke KO: 2/26/10 10K Annual Report

Disney DIS: 2/25/10 8K re: 3 year credit agreement

2/9/10 10Q Quarterly Report

DuPont DD: 2/17/10 10K Annual Report

ExxonMobil XOM: 2/26/10 10K Annual Report

GE: 2/19/10 10K Annual Report

Hewlett-Packard HPQ: 2/17/10 8K re: results of operations for quarter ended 1/31/10

2/5/10 10K/A Amended Annual Report

Home Depot HD: 2/23/10 8K re: quarterly results

Intel INTC: 2/22/10 10K Annual Report

IBM: 2/23/10 10K Annual Report

JPMorganChase JPM: 2/26/10 8K re: Investor Day FD Disclosures

2/24/10 10K Annual Report

Kraft KFT: 2/25/10 10K Annual Report

McDonalds MCD: 2/26/10 10K Annual Report

Merck MRK: 3/1/10 10K Annual Report

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: 2/261/0 10K Annual Report

Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference

3M MMM: 2/16/10 10K Annual Report

Travelers TRV: 2/18/10 10K Annual Report

United Technologies UTX: 2/26/10 Def. Proxy Statement on Form 14A

2/11/10 10K Annual Report

Verizon Communications Inc. VZ: 2/26/10 10K Annual Report

WalMartWMT: 2/18/28/10 8K re: 4th quarter and annual results of operations; guidance