3/18/10 Thurs. am JPMorgan in Italian Ct. in $2.3 Bil Fraud Case

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Post #348. 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.

A read of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today & 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 Tuesday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Wednesday at 10,733.67 up 47.69 or 0.45% from Tuesday's close of 10,685.98. For the year the Dow is up 2.93%. Of the 30 Dow Companies: 22 gained and 8declined. The biggest gainers dollar-wise was Caterpillar CAT $60.25 +0.80 1.35% 7,765,065 NYSE and ExxonMobil XOM $67.37 +0.80 1.2% 36,072,546 NYSE and percentage-wise was Alcoa AA $14.45 +0.65 4.71% 82,835,678 NYSE. The biggest decliner dollar-wise and percentage-wise was IBM $127.74 -0.93 0.72% 6,049,635 NYSE.

WSJ pC5 "Alcoa, DuPont Pace Dow" by Donna Kardos Yesalavich says stocks climbed to a a 17 month high as drop in producer prices calmed inflation worries & boosted sentiment toward economically sensitive stocks including Alcoa, DuPont & Caterpillar.

WSJ pC1 "Blue Chips Climb 47.69, Best Close Since '08" by Peter A. McKay, Kristina Peterson says the stock market hit a fresh 17 month high Wed, capping a quiet 7 day rally, as the prospects for continued low borrowing costs buoyed investors' hopes for the US economy. Investors piled into riskier assets, bidding stocks and commodities highe. Alcoa was the Dow's strongest component jumping 4.8% thanks to a rally in metals. Exxon Mobil and Chevron rose about 1% each thanks to gains in oil.

Fin Times p24 "Seventh consecutive Dow rise sees good day at BlackRock" by Masa Serdarevic says Wall St. stocks continued their rally yesterday, rising on a quiet news day as investors took comfort from a range of positive economic and corporate data.

NYT pB9 "The Markets Reach Highs ot Seen Sicne '08" by Javier C. Hernandez says Wall St. indexes reached their highest levels on Wed isnce the start of the fin'l crisis in '08.

USA Today p1B "Dow sets a new bull market high" by Adam Shell says the Dow hit a fresh bull market high Wed, erasing all of the losses suffered in the brief winter swoon.

USA Today p5B "Lack of inflation keeps stocks rising" by Bloomberg says stocks gained Wed, sending the Dow to the highest level since Oct. '08 on evidence that the economic recovery isn't stoking inflation.

As of the open of the market Thursday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132319125 unchanged, the trailing P/E ratio is 16.73 up from Wednesday's P/E ratio of 16.66 (year ago it was 24.83) the P/E estimate is 13.56 unchanged from Wednesday's P/E estimate of 13.56 (year ago it was 11.01) and the current dividend yield is 2.54 down from Wednesday's dividend yield of 2.55 (it was 4.15 a year ago).

Wednesday's Dow Jones Industrial Average closing numerator was 1420.27 up 6.31 from Tuesday's closing Dow numerator of 1,413.96. 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 6.31 for Wednesday by the divisor you get the increase in Wednesday's Dow close of 47.69. A $1 change in the price of any DJIA stock = a 7.56 change in the average.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was $47.34 up 0.21 from Tuesday's Dow Jones Industrial Average closing price of $47.13. The median closing price of Wednesday's Dow Jones Industrial Average was 42.41 up 0.33 from Tuesday's median closing price of 42.08. The lowest volume was 3M MMM 82.18 +0.52 0.64% 3,974,416 NYSE and the highest volume again was Bank of America BAC $17.26 +0.23 1.35% 131,536,205 NYSE.

If Wednesday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $630 ($142,020 - $141,390).

Market Watch Wednesday 3/17/10 4:14 pm by Kate Gibson says U.S. stocks finished higher on Wednesday, with the Dow Jones Industrial Average extending its longest run since August 2009 as investors rejoiced in the Federal Reserve's decision to keep rates at historic lows. Up for a seventh day, the Dow industrials (INDU 10,734, +47.77, +0.45%) added 47.69 points, or 0.5%, to 10,733.67. The S&P 500 Index (SPX 1,166, +6.75, +0.58%) rose 6.75 points, or 0.6%, to 1,166.21. The Nasdaq Composite Index (COMP 2,389, +11.08, +0.47%) climbed 11.08 points, or 0.5%, to 2,389.09

AT&T T $25.908 +0.058 0.22% 17,059,863 NYSE: WSJ pB1 "Sprint Wagers on 4G Phone" by Roger Cheng says Sprint Nextel will soon roll out the first US phone that works on a faster wireless network, an important step in the struggling carrier's effort to stem subscriber defections. Sprint, which has lost 9 mil customers over the past 3 years, is the nation's third largest wireless carrier and losing ground. But it has some thing market leaders Verizon Wireless and AT&T don't - a fourth generation service that can upload and download data like Web pages much fastre than conventional wireless systems. Verizon Wirelss plans to have its network in up to 30 markets by the end of the year while AT&T is moving more slowly but will also roll out 4G over the next few years.

Alcoa AA $14.45 +0.65 4.71% 82,835,678 NYSE: WSJ pC5 "Alcoa, DuPont Pace Dow" by Donna Kardos Yesalavich says stocks climbed to a a 17 month high as drop in producer prices calmed inflation worries & boosted sentiment toward economically sensitive stocks including Alcoa, DuPont & Caterpillar.

WSJ pC1 "Blue Chips Climb 47.69, Best Close Since '08" by Peter A. McKay, Kristina Peterson says the stock market hit a fresh 17 month high Wed, capping a quiet 7 day rally, as the prospects for continued low borrowing costs buoyed investors' hopes for the US economy. Investors piled into riskier assets, bidding stocks and commodities highe. Alcoa was the Dow's strongest component jumping 4.8% thanks to a rally in metals. Exxon Mobil and Chevron rose about 1% each thanks to gains in oil.

American Express AXP $41.01 +0.09 0.22% 8,687,212 NYSE: No mentions found.

Bank of America BAC $17.26 +0.23 1.35% 131,536,205 NYSE: AJC pA14 "Bank of Ameica CEO: Bank "missed the mark"" says BofA CEO Brian Moynihan made this statement referring to his firm's conduct during the credit crisis.

Boeing BA $69.3927 +0.6727 0.98% 5,802,318 NYSE: No mentions found.

Caterpillar CAT $60.25 +0.80 1.35% 7,765,065 NYSE: WSJ pC5 "Alcoa, DuPont Pace Dow" by Donna Kardos Yesalavich says stocks climbed to a a 17 month high as drop in producer prices calmed inflation worries & boosted sentiment toward economically sensitive stocks including Alcoa, DuPont & Caterpillar.

Chevron CVX $74.68 +0.70 0.95% 9,782,725 NYSE: WSJ pC1 "Blue Chips Climb 47.69, Best Close Since '08" by Peter A. McKay, Kristina Peterson says the stock market hit a fresh 17 month high Wed, capping a quiet 7 day rally, as the prospects for continued low borrowing costs buoyed investors' hopes for the US economy. Investors piled into riskier assets, bidding stocks and commodities higher. Alcoa was the Dow's strongest component jumping 4.8% thanks to a rally in metals. Exxon Mobil and Chevron rose about 1% each thanks to gains in oil.

Cisco CSCO $26.26 +0.11 0.42% 32,152,985 NASDAQ-GS: No mentions found.

Coca-Cola KO $53.84 +0.14 0.26% 10,195,339 NYSE: WSJ pB6 "McDonald's Bets Pricing Drinks At $1 Will Heat Up Summer Sales" by Paul Ziobro says MCD's execs are trying to sell franchisees on the idea of selling all soft drinks, no matte the size, for $1. Coca-Cola reps have also pressed the case for $1 drinks.

Disney DIS $33.7475 -0.0025 0.01% 7,578,916 NYSE: No mentions found.

DuPont DD $36.47 +0.53 1.47% 6,690,095 NYSE: WSJ pC5 "Alcoa, DuPont Pace Dow" by Donna Kardos Yesalavich says stocks climbed to a a 17 month high as drop in producer prices calmed inflation worries & boosted sentiment toward economically sensitive stocks including Alcoa, DuPont & Caterpillar.

ExxonMobil XOM $67.37 +0.80 1.2% 36,072,546 NYSE: Chevron CVX $74.68 +0.70 0.95% 9,782,725 NYSE: WSJ pC1 "Blue Chips Climb 47.69, Best Close Since '08" by Peter A. McKay, Kristina Peterson says the stock market hit a fresh 17 month high Wed, capping a quiet 7 day rally, as the prospects for continued low borrowing costs buoyed investors' hopes for the US economy. Investors piled into riskier assets, bidding stocks and commodities higher. Alcoa was the Dow's strongest component jumping 4.8% thanks to a rally in metals. Exxon Mobil and Chevron rose about 1% each thanks to gains in oil.

GE $18.041 -0.029 0.16% 158,410,604 NYSE: No mentions found.

Hewlett-Packard HPQ $52.24 -0.11 0.21% 13,773,714 NYSE: No mentions found.

Home Depot HD $32.51 -0.04 0.12% 13,256,876 NYSE: No mentions found.

Intel INTC $22.24 +0.23 1.04% 76,241,573 NASDAQ-GS: USA Today p5B "Personal Tech" by Edward C. Baig gies a good review to the Intel WiDi, Wirelss Display that lets you wirelessly share laptop content on a TV. The are on one of 3 new laptops that sell for $900 to $1,050 and made by Toshiba, Dell and Sony.

IBM $127.74 -0.93 0.72% 6,049,635 NYSE: WSJ pB1 "Personal Tech" by Walte S. Mossberg reviews the ThinkPad which Lenovo, a Chinese firm, bought from IBM in '05.

J.P.Morgan Chase JPM $43.8 +0.56 1.3% 31,976,459 NYSE: WSJ pC10 "Wall St's Less Golden years" by Simon Nixon says investment banks enjoyed a bonanza in '09 thanks to fat margins, huge trading volumes and massive debt issuance Some banks like UBS hopes to boost fixed income rev and are trying to rebuild share lost in the crisis. Others such as J.P. Morgan Chase, Credit Suisse and Barclays want to build on recent success.

Fin Times p1 "Banks face frraud trial in Milan over sale of derivatives" by Vincent Boland, WSJ pC2 "Milan Trials Will Ensnare Banks Based Outside Italy" by Alessandro Mocenni, Gilles Castonguay say a Milan judge ordered UBS, JPMorgan Chase, Deutsche Bank and Depfa Bank now a unit of Hypo Real Estate AG to stand trial for the alleged fraudulent sale of $2.31 bil in derivatives.

WSJ pC3 "Judge Backs Lehman pact On Collateral" by David McLaughlin says a judge approved a deal resolving a $7.68 bil claim JPMorgan has against Lehman stemming from collateral demands and allows JPMorgan to keep $7.1 bil in cash collateral it is holding while transferring illiquid securities to Lehman.

Johnson & Johnson JNJ $64.63 +0.10 0.15% 7,747,115 NYSE: NYT pB3 "Maker of Tylenol Explains Actions Taken to Alleviate Musty Smell of Pills" b Natasha Singer says the Johnson & Johnson unit that drew criticism and a fed warning letter in jan on the grounds of mishandling quality control problems with Tylenol says it has taken steps to prevent similar incidents in the future. Tylenol, made by the McNeil Consumer Healthcare unit of JNJ, had an odor problem due to the breakdown of a preservative used on wooden pallets.

WSJ pA8 "FDA is Easing Way for Drug Cocktails" by Mark Schoofs says the FDA is devising guidelines that could accelerate testing and approval of multidrug regimes for some of the world's most deadly disease. Merck and AstraZeneca are jointly testing 2 anticancer agents and will take advantage of such a policy as would Johnson & Johnson's subsidiary Tibotec which is developing the experimental drug TMC-207 to disrupt cellular energy production to combat TB bacteria. Bill and Melinda Gates Foundation has convened a group of 10 drug firms and several nonprofit groups to develop medicines to fight tuberculosis and the group, known as Critical Path to TB Regimens includes Pfizer.

Kraft KFT $29.7075 +0.0175 0.06% 10,738,255 NYSE: USA Today pB1 & AJC pA14 "Kraft to cut salt in its N. Amer. foods" says the cut will be 10% over the next 2 years to appeal to health conscious consumes and will affect more than 1,000 products and save 10 mil pounds of salt annually. Each adult should only have 2,00 milligrams of sodium a day.

McDonald's MCD $66.39 +0.32 0.48% 4,680,202 NYSE: WSJ pB6 "McDonald's Bets Pricing Drinks At $1 Will Heat Up Summer Sales" by Paul Ziobro says MCD's execs are trying to sell franchisees on the idea of selling all soft drinks, no matte the size, for $1. Coca-Cola reps have also pressed the case for $1 drinks.

Merck MRK $38.08 +0.14 0.37% 11,853,375 NYSE: WSJ pA8 "Pet Flea, Tick Products To Get label Overhaul" by Jared A. Favole says the EPA is requiring better labelling for flea and tick products used on cats and dogs. The products made by Merck, Bayer and Pfizer are sold under names such as Frontline Top Spot and Promeris Canine Flea Control.

WSJ pA8 "FDA is Easing Way for Drug Cocktails" by Mark Schoofs says the FDA is devising guidelines that could accelerate testing and approval of multidrug regimes for some of the world's most deadly disease. Merck and AstraZeneca are jointly testing 2 anticancer agents and will take advantage of such a policy as would Johnson & Johnson's subsidiary Tibotec which is developing the experimental drug TMC-207 to disrupt cellular energy production to combat TB bacteria. Bill and Melinda Gates Foundation has convened a group of 10 drug firms and several nonprofit groups to develop medicines to fight tuberculosis and the group, known as Critical Path to TB Regimens includes Pfizer.

Microsoft MSFT $29.63 +0.26 0.89% 49,989,597 NASDAQ-GS: No mentions found.

Pfizer PFE $17.2 -0.06 0.35% 55,136,980 NYSE: WSJ pA8 "FDA is Easing Way for Drug Cocktails" by Mark Schoofs says the FDA is devising guidelines that could accelerate testing and approval of multidrug regimes for some of the world's most deadly disease. Merck and AstraZeneca are jointly testing 2 anticancer agents and will take advantage of such a policy as would Johnson & Johnson's subsidiary Tibotec which is developing the experimental drug TMC-207 to disrupt cellular energy production to combat TB bacteria. Bill and Melinda Gates Foundation has convened a group of 10 drug firms and several nonprofit groups to develop medicines to fight tuberculosis and the group, known as Critical Path to TB Regimens includes Pfizer.

Procter & Gamble PG $64.01 +0.48 0.76% 9,453,128 NYSE: USA Today p1B "USA Today Interivew with Procter & Gamble CEO bob Mcdonald" by Bruce Horovitz talks with the CEO who has been CEO for 8 months how is is trying to boost the number from $12 to $14 which is the amount every peson on Earthspends per year on P&G products.

WSJ pD2 "A Penny Shaved is a Penny Earned" by Nneal Templin says the author doesn't like spending $2.50 to $3 a blade for his Gillette (owned by Procter & Gamble" Mach 3, yet he doesn't like using cheap disposable razors. He doesn't like how Gillette and Schick keep tring to add blades to the razor. He wasn't impressed with the new Gillette Fusion ProGlide Power razor, a five blade razor that sells for $12.99 for a razor and 2 cartridges.

3M MMM $82.18 +0.52 0.64% 3,974,416 NYSE: No mentions found.

Travelers TRV $52.99 +0.14 0.26% 5,459,401 NYSE: No mentions found.

United Technologies UTX $72.19 -0.21 0.29% 4,441,708 NYSE: No mentions found.

Verizon VZ $30.15 +0.22 0.74% 24,325,723 Dual Listed: WSJ pC10 "Downside of Blockbuster Dividends" by Martin Peers says when Viacom spun off Blockbuster in '04 Blockbuster had nearly a billion dollars in debt. Verizon Communications did something similar when it spun off its telephone directories operations, a business threatened by the Web, as Idearc in '06 which filed for bankruptcy last year due to debt.

WSJ pB1 "Sprint Wagers on 4G Phone" by Roger Cheng says Sprint Nextel will soon roll out the first US phone that works on a faster wireless network, an important step in the struggling carrier's effort to stem subscriber defections. Sprint, which has lost 9 mil customers over the past 3 years, is the nation's third largest wireless carrier and losing ground. But it has some thing market leaders Verizon Wireless and AT&T don't - a fourth generation service that can upload and download data like Web pages much faste than conventional wireless systems. Verizon Wirelss plans to have its network in up to 30 markets by the end of the year while AT&T is moving more slowly but will also roll out 4G over the next few years.

WSJ pB3 "Verizon Seeks to Block Cablevisions's TV Boxes" by Tess Stynes says VZ is tring to halt Cablevisions' imports of some digital TV boxes, filing a patent infringement complaint with the Int'l Trade Comm.

WalMart WMT $55.92 -0.07 0.13% 12,435,919 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 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