3/5/10 Fri. am Merck Sues Teva Over Cholesterol Drug

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Post #326 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 Friday's Wall Street Journal, Financial Times, Investor's Business Daily, USA Today, 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 Thursday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Thursday at 10,444.14 up 47.38 or 0.46% from Wednesday's close of 10,396.76. For the year the Dow is up0.15%. Of the 30 Dow Companies: 23 gained and 7 declined. The biggest gainer dollar-wise was Boeing BA $65.55 +1.10 1.71% 7,718,659 NYSE and percentage-wise was Disney DIS $32.57+ 0.93 2.94% 23,076,369 NYSE. The biggest decliner dollar-wise and percentage-wise was McDonald's MCD $63.43 -0.20 0.31% 5,958,183 NYSE.

Fin Times p24 "S&P 500 advances but drop in house sales damps mood' by Masa Serdarevic says US stocks ended higher yesterday, helped by better than expected initial jobless claims and productivity figures, which boosted investor sentiment ahead of today's non-farm payrolls data.

NYT pB8 "Shares Rise on Signs That Economy Is Stabilizing" by Reuters says Stocks rose Thurs. as better than expected monthly sales from retailers and a decline in the number of Americans filing claims for jobless benefits suggested the nation's economy was stabilizing. Feb. retail sales, which were expected to have been hurt by the severe weather across the US, lifted retailers' shares, and the S&P retail index rose 1.3%.

WSJ pC1 "Dow Combs Back to Black For This year" by Peter A. McKay says stocks gained as analyst upgrades of a trio of blue chip firms helped the Dow break into positive territory for the year. The Dow was led by a 2.9% gain in Disney after Bank of America Merrill Lynch raised its rating on the firm to buy from neutral. Coke benefited from upgrades by UBS by being moved to buy from neutral, it was up 1%, while Boeing gained 1.7% after being moved to a neutral from a sell.

WSJ pC5 "Boeing, Coca-Cola & Disney Aid Dow" by Donna Kardos Yesalavich says stocks closed higher as analysts' upgrades of disney, Boeing and Coke provided a boost, along with better than expected retail sales and weekly jobs numbers.

Inv. Bus. Daily pA1 "Indexes Rise, But Top Stocks Show Little leadership" by Paul Whitfield says stocks rose moderately Thurs. in mixed volume, as most indexes closed in better from than in the prior couple of days. The current outlook is the market is in a confirmed uptrend.

USA Today p4B "Stocks rise in advance of jobs report" by AP says optimism about the gov's Feb. jobs report sent the Dow back into the black for '10.

As of the open of the market Friday, 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 16.28 up from Thursday's P/E ratio of 16.21 (year ago it was 21.87) the P/E estimate is 13.21 unchanged from Thursday's P/E estimate of 13.21 (year ago it was 10.81) and the current dividend yield is 2.60 down from Thursday's dividend yield of 2.61 (it was 4.70 a year ago).

Thursday's Dow Jones Industrial Average closing numerator was 1381.96 up 6.27 from Wednesday's closing Dow numerator of 1,375.69. 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 6.27 for Thursday by the divisor you get the increase in Thursday's Dow close of 47.38. 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 Thursday's Dow Jones Industrial Average was $46.06 up 0.20 from Wednesday's Dow Jones Industrial Average closing price of $45.86. The median closing price of Thursday's Dow Jones Industrial Average was 41.01. The lowest volume was 3M MMM $81.02 +0.02 0.02% 2,620,209 NYSE and the highest volume again was Bank of America BAC $16.4 +0.03 0.18% 157,746,425 NYSE.

If Thursday 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 $616 ($138,196 - $137,580).

Market Watch Market March 4, 2010, 4:29 p.m.by Peter McKay U.S. stocks shed early gains as health care weighs -- U.S. stocks rose Thursday, helped by better data on retail sales and jobless claims, while a trio of analyst upgrades pushed the Dow Jones Industrial Average into positive territory for 2010. The Dow Jones Industrial Average (INDU 10,444, +46.86, +0.45%) gained 47.38 points, or 0.5%, to 10,444.14, up 0.2% for the year. It was led Thursday by a 2.9% gain in Walt Disney Co. (BAC 16.42, +0.02, +0.12%) after Bank of America Merrill Lynch raised its rating on the company to "buy" from "neutral." Two other Dow components benefited from upgrades by UBS. Shares of Coca-Cola Co. (KO 54.60, +0.13, +0.24%), which was moved to a "buy" rating from "neutral," rose 1%. Boeing Co. (BA 65.86, +0.31, +0.47%) gained 1.7% after being moved to a "neutral" rating from "sell" by the investment bank, which said a greater proportion of airlines are now looking to speed deliveries of new aircraft rather than postpone them. Better-than-anticipated readings of jobless claims and nonfarm business activity also helped the market, though data on factory orders and pending home sales were disappointing. All the week's big-picture announcements, however, have been viewed mostly as precursors to a highly anticipated payrolls report due Friday morning. Wall Street is expecting to see further declines in nonfarm payrolls for February -- a worrisome sign for investors looking for a robust economic recovery.The Nasdaq Composite Index (COMP 2,292, +11.63, +0.51%) was up 0.5%, while the S&P 500 (SPX 1,123, +4.18, +0.37%) was up 0.4%. Health-care stocks, which led a late-day swoon in the market on Wednesday, continued to be a sore spot. Insurance companies led the sector's losses after executives entered a meeting with U.S. Health and Human Services Secretary Kathleen Sebelius at the White House. White House spokesman Robert Gibbs said President Barack Obama hopes to see the House approve health-care legislation by March 18. UnitedHealth Group Inc. (UNH 32.96, +0.01, +0.04%) shares fell 3.4%, Aetna Inc.(AET 31.31, +0.66, +2.15%) was down 2%, and Cigna Corp. (CI 34.11, +0.07, +0.21%) shares fell 1.9%. Several retailers reported improved sales in February. Among the companies that handily topped expectations, Zumiez Inc.(ZUMZ 17.55, -0.07, -0.40%) shares jumped 10.1%, while Abercrombie & Fitch (ANF 41.67, +0.15, +0.36%) climbed 14.6% and Aeropostale Inc. (ARO 37.50, -0.01, -0.03%) rose 6.5%. Composite trading in New York Stock Exchange-listed companies hit 4.1 billion shares, falling well shy of the 2010 full-day average of 5.1 billion shares. Other assets were more volatile than stocks, especially the dollar, which posted a solid rally versus the euro after Greece successfully completed an offering of 10-year debt. The dollar's gains in turn weighed on commodities, which are traded globally in terms of the greenback. Crude futures ended down 66 cents at $80.21 on the New York Mercantile Exchange. Gold futures fell and Treasury prices were mixed. The two-year note was down 3/32 to yield 0.859% while the 10-year note was up 4/32 to yield 3.608%

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

AT&T T $24.96 +0.07 0.28% 28,737,108 NYSE: No mentions found.

Alcoa AA $13.43 +0.09 0.67% 29,454,426 NYSE: No mentions found.

American Express AXP $38.89 +0.61 1.59% 8,899,547 NYSE: No mentions found.

Bank of America BAC $16.4 +0.03 0.18% 157,746,425 NYSE: WSJ pC8, Fin Times p16 "US Treasury reaps $1.5 bil from sale of BofA Warrants, USA Today p1B, AJC pA14 "$1.4 bil for Bank of America warrants" says the amount fetched was higher than what everyone expected.

WSJ pC1 "Dow Combs Back to Black For This year" by Peter A. McKay says stocks gained as analyst upgrades of a trio of blue chip firms helped the Dow break into positive territory for the year. The Dow was led by a 2.9% gain in Disney after Bank of America Merrill Lynch raised its rating on the firm to buy from neutral. Coke benefited from upgrades by UBS by being moved to buy from neutral, it was up 1%, while Boeing gained 1.7% after being moved to a neutral from a sell.

Boeing BA $65.55 +1.10 1.71% 7,718,659 NYSE: Inv. Bus. Daily pA2 "Boing unveils latest tanker bid" says it took the wraps of its "NewGen Tanker" via a video at its unitedstatestanker.com Web site saying it will offer an updated 767 based refueling plane in competition for the Air Force's troubled $35 bil tanker contract.

WSJ pC1 "Dow Combs Back to Black For This year" by Peter A. McKay says stocks gained as analyst upgrades of a trio of blue chip firms helped the Dow break into positive territory for the year. The Dow was led by a 2.9% gain in Disney after Bank of America Merrill Lynch raised its rating on the firm to buy from neutral. Coke benefited from upgrades by UBS by being moved to buy from neutral, it was up 1%, while Boeing gained 1.7% after being moved to a neutral from a sell.

Caterpillar CAT $58.45 -0.12 0.2% 6,199,197 NYSE: No mentions found.

Chevron CVX $73.08 -0.05 0.07% 9,419,812 NYSE: No mentions found.

Cisco CSCO $24.95 +0.11 0.44% 40,261,904 NASDAQ-GS: No mentions found.

Coca-Cola KO 54.60, +0.13, +0.24% NYSE: AJC pA14 "Fortune taps Coca-Cola as 10th most admired" says the first time since '99, Coke has cracked the top 10 and is just below No. 9 Walmart and just above No. 11 Microsoft.

WSJ pC1 "Dow Combs Back to Black For This year" by Peter A. McKay says stocks gained as analyst upgrades of a trio of blue chip firms helped the Dow break into positive territory for the year. The Dow was led by a 2.9% gain in Disney after Bank of America Merrill Lynch raised its rating on the firm to buy from neutral. Coke benefited from upgrades by UBS by being moved to buy from neutral, it was up 1%, while Boeing gained 1.7% after being moved to a neutral from a sell.

Disney DIS $32.57 +0.93 2.94% 23,076,369 NYSE: WSJ pC10 "Overheard" says Cablevision is taking out newspaper ads in its fight with ABC owner Disney claiming Disney is making unreasonable demands because of exec bonuses and weak theme parks.

WSJ pC1 "Dow Combs Back to Black For This year" by Peter A. McKay says stocks gained as analyst upgrades of a trio of blue chip firms helped the Dow break into positive territory for the year. The Dow was led by a 2.9% gain in Disney after Bank of America Merrill Lynch raised its rating on the firm to buy from neutral. Coke benefited from upgrades by UBS by being moved to buy from neutral, it was up 1%, while Boeing gained 1.7% after being moved to a neutral from a sell.

DuPont DD $34.56 +0.30 0.88% 6,815,605 NYSE: No mentions found.

ExxonMobil XOM $65.4 -0.03 0.05% 21,963,424 NYSE: No mentions found.

GE $16.11 +0.08 0.5% 47,138,628 NYSE: No mentions found.

Hewlett-Packard HPQ $51.51 +0.41 0.8% 8,080,565 NYSE: No mentions found.

Home Depot HD $31.44 -0.03 0.1% 13,778,691 NYSE: No mentions found.

Intel INTC $20.53 +0.01 0.05% 62,756,919 NASDAQ-GS: No mentions found.

IBM $126.72 -0.16 0.13% 6,032,328 NYSE: No mentions found.

J.P.Morgan Chase JPM $41.92 +0.39 0.94% 25,459,141 NYSE: WSJ pC3 "WaMu, J.P.Morgan Near Pack on Funds" says the dispute is over who owns about $4 bil claimed by both firms which represents deposits of WaMu customers which JPMorgan took over.

Johnson & Johnson JNJ $63.57 +0.17 0.27% 8,067,653 NYSE: No mentions found.

Kraft KFT $29.08 +0.11 0.38% 11,131,348 NYSE: No mentions found.

McDonald's MCD $63.43 -0.20 0.31% 5,958,183 NYSE: No mentions found.

Merck MRK $37.14 -0.07 0.19% 11,854,076 NYSE: AJC pA14 "Merck sues Teva over cholesterol drug" say Merck and Co. & its Schering unit sued Teva to prevent it from selling a generic version of the cholesterol drug Vytorin in the US until '17.

Microsoft MSFT $28.63 +0.17 0.6% 42,894,184 NASDAQ-GS: Fin Times p19 "Microsoft in spotlight over google case" by Richard Waters, Nikki Tait says Microsoft is helping a small cmopany, Foundem, sue Google for antitrust violations in Europe.

AJC pA14 "Fortune taps Coca-Cola as 10th most admired" says the first time since '99, Coke has cracked the top 10 and is just below No. 9 Walmart and just above No. 11 Microsoft.

Pfizer PFE $17.33 +0.01 0.06% 56,919,092 NYSE: Fin Times p3 "Drug groups cautious on health changes" by Stephanie Kirchgaessner says the pharma industry, which for months has been a crucial ally in the drive by Barack Obama for healthcare reform, is not taking a wait and see approach before fully backing the Democrats final push to legislate. Companies such as Pfizer, Bristol-Myes and Blaxo-SmithKline and others lobbying for healthcare refor, are holding out hope that the final details of legislation will mirror a deal cut between the industry, the White House and the Senate last summer.

Procter & Gamble PG $63.67 +0.12 0.19% 8,600,247NYSE: No mentions found.

3M MMM $81.02 +0.02 0.02% 2,620,209 NYSE: No mentions found.

Travelers TRV $53.55 +0.43 0.81% 3,911,710 NYSE: No mentions found.

United Technologies UTX $70.37 +0.77 1.11% 5,651,723 NYSE: No mentions found.

Verizon VZ $29.27 +0.14 0.48% 13,106,304 NYSE: No mentions found.

WalMart WMT $53.96 +0.30 0.56% 11,211,800 NYSE: AJC pA14 "Fortune taps Coca-Cola as 10th most admired" says the first time since '99, Coke has cracked the top 10 and is just below No. 9 Walmart and just above No. 11 Microsoft.

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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