3/2/10 Tues. pm Dow Closes 10,405.98 up 2.19 or 0.02%

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Post #321 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 10,405.98 up 2.19 or 0.02% from Monday's close of 10,403.79. Of the 30 Dow Companies: 17 gained, 2 were unchanged and 11 declined. The biggest gainer dollar-wise was 3M Disney DIS $31.88 +0.34 1.08% 14,053,649 NYSE and percentage-wise was MMM $81.13 +0.55 0.68% 3,364,247 NYSE. The biggest decliner dollar-wise was IBM $127.42 -1.15 0.89% 6,012,637 NYSE and percentage-wise was Microsoft MSFT $28.46 -0.56 1.93% 93,121,738 NASDAQ-GS 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 16.22 up from Monday's P/E ratio of 16.10 (year ago it was 23.43) the P/E estimate is 13.21 unchanged from Monday's P/E estimate of 13.21(year ago it was 10.81) and the current dividend yield is 2.61 down from Monday's dividend yield of 2.63 (it was 4.66 a year ago).

Tuesday's Dow Jones Industrial Average closing numerator was 1376.90 up 0.59 from Monday's closing Dow numerator of 1,376.32. 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 0.59 for Tuesday by the divisor you get the increase in Tuesday's Dow close of 2.19. 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 $45.90 up 0.01 from Monday's Dow Jones Industrial Average closing price of $45.89. The median closing price of Tuesday's Dow Jones Industrial Average was 40.00 up 0.02 from Tuesday's median closing price of 39.98. The lowest volume was 3M MMM $ 81.13 +0.55 0.68% 3,364,247 NYSE and the highest volume again was Bank of America BAC $16.46 -0.25 1.5% 182,922,072 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 $30 ($137,700 -$137,670).

Market Watch Market March 2, 2010, 5:50 p.m. The Dow Jones Industrial Average (INDU 10,406, +2.04, +0.02%) ended with a 2.2-point gain at 10,405.98, its gains held in check by a 1.9% decline in Microsoft Corp. (MSFT 28.48, +0.02, +0.07%) shares. Walt Disney Co. (DIS 31.90, +0.02, +0.06%) shares rose 1%. The S&P 500 Index (SPX 1,118, +2.60, +0.23%) added 2.6 points, or 0.2%, to finish at 1,118.31. The Nasdaq Composite Index (COMP 2,281, +7.22, +0.32%) climbed 7.22 points, or 0.3%, to 2,280.79. Fueling the earlier advance, mergers lifted investor sentiment and technology stocks were boosted by Qualcomm Inc.'s (QCOM 38.15, +0.22, +0.58%) $3 billion stock buyback.
The S&P 500's technology, consumer discretionary and telecommunication sectors finished the day lower, however, partially offsetting gains in materials and energy.
At its intraday high, the Dow was up about 29 points for the year, its first push into positive year-to-date territory since January. The measure was hit by a wave of afternoon selling to end down 22 points for the year. The S&P 500 and Nasdaq Composite are still higher for the year. Now that fourth-quarter earnings season is past, investors are focusing more on economic data and moves by governments world-wide to normalize economic and monetary policies following the global financial crisis. Greece Braces For Tough TimesLocal experts express confidence that Greece will lower its deficit and avoid a meltdown. These measures, however, are likely to weigh on the country's economic performance. Polya Lesova reports from Athens.
"I think it all comes back to the jobs numbers, which are so important to consumer spending," said portfolio manager Kim Caughey, of Fort Pitt Capital Group. Among stocks on the move, Qualcomm shares rose 6.7% after the company increased its stock buyback authority and increasing its dividend by 12%. Read more on rising dividends.

Shares of fertilizer maker Terra Industries (TRA 45.65, -0.02, -0.04%) jumped 11% after CF Industries Holdings (CF 106.42, -1.12, -1.04%) resumed its pursuit of the company with a $4.72 billion offer that seeks to break up the agreed bid from Norway's Yara International. Staples, Inc. (SPLS 23.28, +0.03, +0.13%) shares fell 10% after the office supplies retailer gave a full-year outlook that fell short of expectations. Crude oil prices returned to their perch above $80 a barrel, while gold was up $19.10 to $1,136.90 per ounce in New York. The dollar fell against the euro and yen.

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

AT&T T $24.88 -0.12 0.48% 33,401,986 NYSE
Alcoa AA $13.24 -0.07 0.53% 32,505,197 NYSE
American Express AXP $38.39 +0.26 0.68% 9,937,710 NYSE
Bank of America BAC $16.46 -0.25 1.5% 182,922,072 NYSE
Boeing BA $64.44 +0.44 0.69% 4,383,003 NYSE
Caterpillar CAT $58.15 +0.30 0.52% 6,582,802 NYSE
Chevron CVX $73.32 +0.51 0.7% 9,257,103 NYSE
Cisco CSCO $24.61 +0.01 0.04% 51,403,636 NASDAQ-GS
Coca-Cola KO $53.3 +0.03 0.06% 12,253,068 NYSE
Disney DIS $31.88 +0.34 1.08% 14,053,649 NYSE
DuPont DD $34.03 unch unch 7,629,690 NYSE
ExxonMobil XOM $65.49 +0.09 0.14% 24,823,513 NYSE
GE $15.9 unch unch 52,571,824 NYSE
Hewlett-Packard HPQ $51.12 -0.42 0.81% 15,012,692 NYSE
Home Depot HD $31.36 -0.07 0.22% 15,182,779 NYSE
Intel INTC $20.6975 -0.1725 0.83% 59,371,776 NASDAQ-GS
IBM $127.42 -1.15 0.89% 6,012,637 NYSE
J.P.Morgan Chase JPM $41.62 -0.21 0.5% 33,890,775 NYSE
Johnson & Johnson JNJ $63.44 +0.05 0.08% 9,013,921 NYSE
Kraft KFT $28.91 +0.19 0.66% 13,813,715 NYSE
McDonald's MCD $64.07 +0.09 0.14% 6,271,660 NYSE
Merck MRK $37.39 +0.12 0.32% 12,254,196 NYSE
Microsoft MSFT $28.46 -0.56 1.93% 93,121,738 NASDAQ-GS
Pfizer PFE $17.6 -0.15 0.85% 64,656,231 NYSE
Procter & Gamble PG $63.71 +0.20 0.31% 8,003,502 NYSE
3M MMM $81.13 +0.55 0.68% 3,364,247 NYSE
Travelers TRV $53.29 +0.21 0.4% 3,618,311 NYSE
United Technologies UTX $69.75 +0.11 0.16% 5,956,143 NYSE
Verizon VZ $29.26 +0.27 0.93% 17,352,853 NYSE
WalMart WMT $53.59 -0.31 0.58% 14,080,821 NYSE
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The following are excerpts from Tuesday morning's Blog:

A read of Tuesday'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 Monday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Monday at 10,403.79 up 78.53 or 0.76% from Friday's close of 10,325.26. Of the 30 Dow Companies: 4 gained and 26 declined. For the year the Dow is down 0.23%. The biggest gainer dollar-wise was BM $128.57 +1.41 1.11% 4,577,215 NYSE and percentage-wise was Intel INTC $20.87 +0.34 1.66% 51,075,412 NASDAQ-GS. The biggest decliner dollar-wise and percentage-wise was GE $15.9 -0.16 1% 62,587,473 NYSE.

Dow: WSJ pC1 "Blue Chips Climb 78.53 On Mergers, Upbeat Data by Peter A. McKay, Kristina Peterson says stocks climbed as merger activity combined with solid economic data and an upbeat outlook for the semiconductor sector to push 2 market indexes into positive territory for the year.

Fin Times p22 "Stocks take heart from positive figures and M&A" by Masa Serdarevic says a burst of m&a activity moved US stocks higher yesterday, aided by stronger than expected consumer spending and manufacturing figures as well as optimism that a Greek bail out plan may be agreed soon.

NYT pB10 "Nasdaq & S&P Postive for the Day & the year by Javier C. Hernadez says Wall. St. reached a milestone on Mon. that had eluded it for some time: 2 major stock indexes crossed into positive territory for the year.

USA p4B "Stocks bounce on consumer spending" by Bloomberg News says stocks rallied Mon., erasing the '10 loss for the S&P 500 index, after consumer spending topped economists' estimates and AIG sol an Asian unit for $35.5 bil.

WSJ pC6 "Data and Deals Fuel Intel, H-P and AIG" by Kristina Peterson says stocks gained, fueled by an uptick in manufacturing employment and personal spending that helped boost tech stocks, including Intel and Hewlett-Packard.

AJC pA9 "Buyouts send stocks higher" says stock indexes rose to their highest levels in more than a month Mon. after corporate buyouts raised hopes about the economy. Stocks rose acted AGI agreed to sell its Asian life insurance biz to Britain'[s Prudential PLC for $35.5 bil.

Monday's Dow Jones Industrial Average closing numerator was 1376.62 up 10.39 from Friday's closing Dow numerator of 1,366.23. 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 10.39 for Monday by the divisor you get the increase in Monday's Dow close of 78.53. 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 Monday's Dow Jones Industrial Average was $45.89 up 0.35 from Friday's Dow Jones Industrial Average closing price of $45.54. The median closing price of Monday's Dow Jones Industrial Average was 39.98 up 0.90 from Friday's median closing price of 39.08. The lowest volume was 3M MMM $80.58 +0.43 0.54% 2,545,032 NYSE and the highest volume again was Bank of America BAC $16.71 +0.05 0.3% 170,153,514 NYSE.

If Monday 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 $1,050 ($137,670 - $136,620).

AT&T T $25 +0.19 0.77% 24,901,722 NYSE: AJC pA7 "Ground patrol in the wireless wars" by Jeffry Scott says Verizon tries to measure whether the $184 mil it spend it upgrading its Ga network in '09 and AT&T tries to measure whether its $1.1 upgrade in its Ga. network since '07 is effective by sending teams of people to patrol in Georgia.

Alcoa AA $13.31 +0.01 0.08% 31,558,321 NYSE: No mentions found.

American Express AXP $38.13 -0.06 0.16% 9,100,995 NYSE: No mentions found.

Bank of America BAC $16.71 +0.05 0.3% 170,153,514 NYSE: No mentions found.

Boeing BA $64 +0.84 1.33% 5,265,530 NYSE: Fin Times p6 "A longer range" byPilita Clark is a full page analysis about Airbus versus Boeing saying after pulling ahead of Boeing in sales, Airbus is striving to secure the orders it needs to stave off a coming threat from the 787 and some of its efforts are being seen as quixotic. If the Boeing 787 works out, Airbus will be lucky to regain 50% of the market.

Caterpillar CAT $57.85 +0.80 1.4% 8,398,215 NYSE: WSJ pB2 "Caterpillar Prohibits Iran Sales" by Chip Cummins says it has prohibited its non_US subsidiaries from accepting orders known to be headed to Iran. See my yesterday morning's Blog for more info.

WSJ pB1 "Firms Map Routes to Recovery" by Clare Ansberry says firms have laid off millions of workers, closed hundreds of factories and vacated acres of office response as the result of the worst downturn since the Great Depression. Corporate spending on technology has started to rebound. Computer chip giant Intel, a bellwether for the tech industry, had one of its most profitable quarters even in 4Q as sales rose 28%. A year ago as the economy slumped it said it would close several older factories, displacing up to 6,000 workers but it is now investing billions of dollars in its US plants as demand for consumer and business computers recovers. Caterpillar is preparing for the recovery by making sure its supply chain is ready to pick up pace quickly and smoothly.

Chevron CVX $72.81 +0.51 0.71% 7,418,586 NYSE: No mentions found.

Cisco CSCO $24.6 +0.27 1.11% 41,774,952 NASDAQ-GS: No mentions found.

Coca-Cola KO $53.27 +0.55 1.04% 19,724,798 NYSE: WSJ pB6 "Pepsi Touts lead on Bottlers" by Anjali Cordeiro says PepsiCo's management said its new bottler acquisitions will give it a competitive dedge in N. America despite rival coca Cola's recent plans to enter into a similar deal as last week KO siad it would pay $12 bil to buy its largest bottler's N. American operations.

Disney DIS $31.54 +0.30 0.96% 8,567,391 NYSE: No mentions found.

DuPont DD $34.03 +0.31 0.92% 7,079,850 NYSE: No mentions found.

ExxonMobil XOM $65.4 +0.40 0.62% 18,774,259 NYSE: No mentions found.

GE $15.9 -0.16 1% 62,587,473 NYSE: No mentions found.

Hewlett-Packard HPQ $51.54 +0.75 1.48% 14,149,957 NYSE: WSJ pC6 "Data and Deals Fuel Intel, H-P and Aig" by Kristina Peterson says stocks gained, fueled by an uptick in manufacturing employment and personal spending that helped boost tech stocks, including Intel and Hewlett-Packard.

Home Depot HD $31.43 +0.23 0.74% 14,098,075 NYSE: No mentions found.

Intel INTC $20.87 +0.34 1.66% 51,075,412 NASDAQ-GS: WSJ pB2 "Intel Says Exec Maloney, 53, had a Stroke" by Don Clark says Intel said one of its top execs, Sean Maloney, who oversees sales, had a stroke and will take a medical leave of several months.

WSJ pB1 "Firms Map Routes to Recovery" by Clare Ansberry says firms have laid off millions of workers, closed hundreds of factories and vacated acres of office response as the result of the worst downturn since the Great Depression. Corporate spending on technology has started to rebound. Computer chip giant Intel, a bellwether for the tech industry, had one of its most profitable quarters even in 4Q as sales rose 28%. A year ago as the economy slumped it said it would close several older factories, displacing up to 6,000 workers but it is now investing billions of dollars in its US plants as demand for consumer and business computers recovers. Caterpillar is preparing for the recovery by making sure its supply chain is ready to pick up pace quickly and smoothly.

WSJ pC6 "Data and Deals Fuel Intel, H-P and Aig" by Kristina Peterson says stocks gained, fueled by an uptick in manufacturing employment and personal spending that helped boost tech stocks, including Intel and Hewlett-Packard.

IBM $128.57 +1.41 1.11% 4,577,215 NYSE: No mentions found.

J.P.Morgan Chase JPM $41.83 -0.14 0.33% 34,170,140 NYSE: No mentions found.

Johnson & Johnson JNJ $63.39 +0.39 0.62% 9,207,193 NYSE: No mentions found.

Kraft KFT $28.72 +0.29 1.02% 13,273,097 NYSE: No mentions found.

McDonald's MCD $63.98 +0.13 0.2% 6,314,518 NYSE: No mentions found.

Merck MRK $37.27 +0.39 1.06% 11,794,260 NYSE: AJC pA8 "Merck has 43 drugs well along in testing" say per its 10K Annual Report filed Mon, it has 43 experimental drugs in mid or late stage testing, double what it had before buying jv partner Schering Plough last fall. It also has 4 drugs waiting approval by FDA.

USA Today p1B says Mercks says it's finished paying $4.85 bil into its fund to settle thousands of claims that Vioxx caused heart attacks or strokes.

Microsoft MSFT $29.02 +0.35 1.22% 43,764,201 NASDAQ-GS: USA p1B "FDA official leaving for Microsoft" says Donna-Bea Tillman is leaving as director of the FDA office of device evaluation to be director of regulations and policy for MSFT's health info unit.

Procter & Gamble PG $63.51 +0.23 0.36% 7,743,285 NYSE: No mentions found.

Pfizer PFE $17.75 +0.20 1.14% 45,547,338 NYSE: No mentions found.

3M MMM $80.58 +0.43 0.54% 2,545,032 NYSE: No mentions found.

Travelers TRV $53.08 +0.49 0.93% 4,330,160 NYSE: No mentions found.

United Technologies UTX $69.64 +0.99 1.44% 3,702,838 NYSE: No mentions found.

Verizon VZ $28.99 +0.06 0.21% 16,195,699 NYSE: AJC pA7 "Ground patrol in the wireless wars" by Jeffry Scott says Verizon tries to measure whether the $184 mil it spend it upgrading its Ga network in '09 and AT&T tries to measure whether its $1.1 upgrade in its Ga. network since '07 is effective by sending teams of people to patrol in Georgia.

WalMart WMT $53.9 -0.17 0.31% 12,125,935 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 $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 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

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