3/30/10 Tues am Cisco's Buy of Tandberg gets OK'd; Rivalry with HPQ Increases

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Post No. 356. 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 Tuesday's Wall St. 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 Monday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Monday at 10,895.86 up 45.5 or 0.42% from Friday's close of 10,850.36. Of the 30 Dow Companies: 22 gained and 8 declined. Year to date the Dow is up 4.49%. The biggest gainer dollar-wise and percentage-wise was Boeing BA $74.11 +1.52 2.09% 9,036,493 NYSE. The biggest decliner dollar-wise was IBM $128.59 -0.67 0.52% 4,631,829 NYSE and percentage-wise was Hewlett-Packard HPQ $52.97 -0.45 0.84% 10,156,958 NYSE.

WSJ pC1 "Smooth Ride Resumes for Dow, Up 45.50" by Peter A. McKay, Donna Kardos Yesalavic says after a brief pause, the stock market resumed its move upward as it approached the end of the quarter inr relatively quiet holiday week trading. The market was led by rallied in Exxon Mobil and Chevron, up 1.1 each. Those bellwethers' gains also boosted the S&P 500's energy sector, which jumped 1.8%, leading the broad index to a 0.6% gain.

WSJ pC8 "The Dow Flies High On Boeing" by Donna Kardos Yesalavich says US stocks rose Mon., with Boeing, Caterpillar and Alcoa among the gainers as the Dow Jones Industrial Average reached a fresh 18 month closing high following reports of improved Texas area manufacturing activity and an increase in personal spending. The dow is charted saying it completed a testing milestone on its 787 Dreamliner.

WSJ p24 "Citigroup falls as Treasury outlines sale of 27% stake" by Masa Serdarevic says US stocks were higher yesterday as investors took comfort in better than expected eurozone industrial and consumer confidence figures and abating fears about the Greek debt crisis, with positive US macro and corporate news also providing support.

NYT pB9 "Optimism About Recovery Lifts Shares" by Javier C. Hernandez saysa brighter outlook for the American consumer and signs that foreign debt troubles were easing helped propel Wall St. higher on Mon.

USA Today p5B "Consumer spending helps stocks rise" by Bloomberg says US stocks rose Mon, sending the Dow to another 18 month high, after consumer spending increased for a 5th month and European confidence in the economic outlook improved. Schlumberger, ExxonMobil and Alcoa paced gains in commodity shares as crude oil and metals prices rallied.

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 16.99 up from Monday's 16.92 (year ago it was 24.87) the P/E estimate is 13.85 unchanged from Monday's 13.85 (year ago it was 20.24) and the current dividend yield is 2.50 down from Monday's 2.51 (it was 3.99 a year ago).

Monday's Dow Jones Industrial Average closing numerator was 1,441.73 up 6.02 from Friday's closing numerator of 1435.71. 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 6.02 for Monday by the divisor you get the increase in Monday's Dow close of 45.5. 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 $48.06 up 0.20 from Friday's Dow Jones Industrial Average closing price of $47.86. The median closing price of Monday's Dow Jones Industrial Average was 43.17 up 0.10 from Friday's median closing price of $43.07. The lowest volume was 3M MMM $81.36 +0.36 0.44% 3,101,958 NYSE and the highest volume again was Bank of America BAC $18.04 +0.14 0.78% 152,261,147 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 $600 ($144,180 - $143,580).

Market Watch 3/29/10 4:08 pm By Kate Gibson U.S. stocks ended higher on Monday after another monthly rise in consumer spending offered further evidence of a sustained economic recovery. A weakened dollar helped support buying of oil futures and energy-related shares. The Dow Jones Industrial Average (INDU 10,896, +45.42, +0.42%) added 45.5 points, or 0.4%, to 10,895.86. The S&P 500 Index (SPX 1,173, +6.63, +0.57%) rose 6.63 points, or 0.6%, to 1,173.22. The Nasdaq Composite Index +9.23, +0.39%) climbed 9.23 points, or 0.4%, to 2,404.36.

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

AT&T T $26.51 +0.27 1.03% 19,926,146 NYSE: WSJ pB1 "New iPhone Could End At&T's US Monopoly" by Yukari Iwatani Kane, Ting-I Tsai, Niraf Sheth says Apple plans to begin producing this year a new iPHone that could allow US pone carries otehr than At&T to sell it. It wold work on a type of wireless network called CDEMA that is used by Verizon Wirelss as well as Sprint Next and other celllular operators in nations including S. Korea and Japan. the vast majority of carriers world wide, including At&T, use another technology called CSM.

Alcoa AA $14.44 +0.17 1.19% 23,774,869 NYSE: USA Today p5B "Consumer spending helps stocks rise" by Bloomberg says US stocks rose Mon, sending the Dow to another 18 month high, after consumer spending increased for a 5th month and European confidence in the economic outlook improved. Schlumberger, ExxonMobil and Alcoa paced gains in commodity shares as crude oiil and metals prices rallied.

American Express AXP $41.48 +0.36 0.88% 5,820,621 NYSE: No mentions found.

Bank of America BAC $18.04 +0.14 0.78% 152,261,147 NYSE: No mentions found.

Boeing BA $74.11 +1.52 2.09% 9,036,493 NYSE: WSJ pB3 "Boeing's Dreamliner lags Testing Schedule" by Peter Sanders says the 787 is running behind schedule but it will still deliver the first one by year end to All Nippon Airways.

WSJ pC8 "The Dow Flies High On Boeing" by Donna Kardos Yesalavich says US stocks rose Mon., with Boeing, Caterpillar and Alcoa among the gainers as the Dow Jones Industrial Average reached a fresh 18 month closing high following reports of iproved Texas area manufacturing activity and an increase in personal spending. The dow is charted saying it completed a testing milestone on its 787 Dreamliner.

Caterpillar CAT $63.48 +1.04 1.67% 6,944,055 NYSE: WSJ pC8 "The Dow Flies High On Boeing" by Donna Kardos Yesalavich says US stocks rose Mon., with Boeing, Caterpillar and Alcoa among the gainers as the Dow Jones Industrial Average reached a fresh 18 month closing high following reports of iproved Texas area manufacturing activity and an increase in persoaln spending. The dow is charted saying it completed a testing milestone on its 787 Dreamliner.

Chevron CVX $75.23 +0.80 1.07% 8,741,291 NYSE: WSJ pC1 "Smooth Ride Resumes for Dow, Up 45.50" by Peter A. McKay, Donna Kardos Yesalavic says after a brief pause, the stock market resumed its move upward as it approached the end of the quarter inr relatively quiet holiday week trading. The market was led by rallied in Exxon Mobil and Chevron, up 1.1 each. Those bellwethers' gains also boosted the S&P 500's energy sector, which jumped 1.8%, leading the broad index to a 0.6% gain.

Cisco CSCO $26.51 +0.041 0.15% 30,196,194 NASDAQ-GS: Fin Times p19 "Cisco clear for video conference purchase" by Richard Wates, Nikki Tait says Cisco won regulatory clearance for its $3.4 bil acquisition of Tandberg, the Norwegian video conferencing firm making a minor concession to regulators that were concerned at its growing power in the market. Hewlett-packard reached a deal of its own last week to sell gear from Polycom, Tandberg's biggest rival, extending its growing rivalry with Cisco.

Coca-Cola KO $54.77 +0.12 0.22% 6,851,162 NYSE: No mentions found.

Disney DIS $35.16 -0.15 0.42% 12,518,419 NYSE: No mentions found.

DuPont DD $37.72 +0.03 0.08% 8,247,882 NYSE: No mentions found.

ExxonMobil XOM $67.3 +0.76 1.14% 26,067,039 NYSE: WSJ pC1 "Smooth Ride Resumes for Dow, Up 45.50" by Peter A. McKay, Donna Kardos Yesalavic says after a brief pause, the stock market resumed its move upward as it approached the end of the quarter inr relatively quiet holiday week trading. The market was led by rallied in Exxon Mobil and Chevron, up 1.1 each. Those bellwethers' gains also boosted the S&P 500's energy sector, which jumped 1.8%, leading the broad index to a 0.6% gain.

USA Today p5B "Consumer spending helps stocks rise" by Bloomberg says US stocks rose Mon, sending the Dow to another 18 month high, after consumer spending increased for a 5th month and European confidence in the economic outlook improved. Schlumberger, ExxonMobil and Alcoa paced gains in commodity shares as crude oiil and metals prices rallied.

GE $18.4 +0.06 0.33% 83,886,117 NYSE: WSJ pB2 "GE Faces Hrudles int he Oil Patch" by Paul Glader says it will try to double revenue of oits oil service to $15 bil in the next 4 years by focusing on niche products and markets where its bigger rivals, Schlumberger and Baker Hughes aren't.

Hewlett-Packard HPQ $52.97 -0.45 0.84% 10,156,958 NYSE: Fin Times p19 "Cisco clear for video conference purchase" by Richard Wates, Nikki Tait says Cisco won regulatory clearance for its $3.4 bil acquisition of Tandberg, the Norwegian video conferencing firm making a minor concession to regulators that were concerned at its growing power in the market. Hewlett-packard reached a deal of its own last week to sell gear from Polycom, Tandberg's biggest rival, extending its growing rivalry with Cisco.

Home Depot HD $32.6 -0.15 0.46% 8,880,868 NYSE: AJC pA13 "home Depot Works on inventory" by Rachel Tobin Ramos says at the end of fiscal '09, HD had $10.2 bil worth of inventory on its books. It plans to spend $350 mil this year updating store technology to better control inventory.

Intel INTC $22.33 +0.09 0.4% 34,310,245 NASDAQ-GS: No mentions found.

IBM $128.59 -0.67 0.52% 4,631,829 NYSE: WSJ pC1 & PC3 by Chad Bray "The Galleon Case: an Ex-IBM Man is 11th to Plead" & USA Today p4B by AP says Robert Moffat & NYT pB5 by Michael J. de la Merced was the latest person to plead guilty in this case.

J.P.Morgan Chase JPM $44.86 -0.16 0.36% 30,468,500 NYSE: NYT pB8 "Company ThatOwns "American Idol" Is Planning a Sale to a Private Equity Group" by Brian Stleter, Michael J. de la Merced says the owner, CKX Inc. is discussing a sale to One Eqkity Partners, the private equity arm of JPMorgan Chase for about $558 mil or $6 a share.

Johnson & Johnson JNJ $64.82 +0.44 0.68% 7,578,178 NYSE: No mentions found.

Kraft KFT $30.54 -0.09 0.29% 10,116,237 NYSE: No mentions found.

McDonald's MCD $67.07 -0.19 0.28% 6,499,060 NYSE: AJC pA14 "Mcdonald's focuses on Asia's beef eaters" says MCD may boost investment in Asia by 0% this year as consumer spending recovers, moving into markets such as S. Korea. It will invest $415 mil in Asia, the Mid East and Africa this year to add 520 restaurants.

Merck MRK $37.89 +0.46 1.23% 11,048,648 NYSE: No mentions found.

Microsoft MSFT $29.59 -0.07 0.24% 33,075,668 NASDAQ-GS: No mentions found.

Pfizer PFE $17.28 +0.14 0.82% 48,482,465 NYSE: No mentions found.

Procter & Gamble PG $63.73 +0.04 0.06% 8,165,508 NYSE: No mentions found.

3M MMM $81.36 +0.36 0.44% 3,101,958 NYSE: No mentions found.

Travelers TRV $54.76 +0.41 0.75% 2,644,610 NYSE: No mentions found.

United Technologies UTX $74 +0.38 0.52% 3,026,331 NYSE: No mentions found.

Verizon VZ $30.45 +0.08 0.26% 13,386,930 Dual Listed: WSJ pB7 "Verizon to End Rollout of FiOS" by Roger Cheng says Verizon communications willno longer seek new cities to roll out its FiOS TV service as the firm nears the end of its $23 bil network upgrade project.

Fin Times p14 "Vodafone/Verizon says maority owner, Verizon Communications, wont pay dividends to its minority jv partner, Vodafone, in its Verizon Wireless jv in order to keep paying down debt but by 2012 Verizon will have to start paying dividends to meet its own dividend requirements.

WSJ pB1 "New iPhone Could End At&T's US Monopoly" by Yukari Iwatani Kane, Ting-I Tsai, Niraf Sheth says Apple plans to begin producing this year a new iPHone that could allow US pone carries otehr than At&T to sell it. It wold work on a type of wireless network called CDEMA that is used by Verizon Wirelss as well as Sprint Next and other celllular operators in nations including S. Korea and Japan. the vast majority of carriers world wide, including At&T, use another technology called CSM.

WalMart WMT $55.74 +0.23 0.41% 9,731,727 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