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Post No. 408. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
The Dow Jones Industrial Average closed Friday at 11008.61 down 158.71 or 1.42% from Thursday's close of 11167.32. For the week the Dow is down 195.67 or 1.75% from last Friday's close of 11,204.28. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise and percentage-wise was Caterpillar CAT $68.09 -2.66 3.76% 9,428,029 NYSE.
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 16.70 up from Thursday's 16.59 (year ago it was 32.42) the P/E estimate is 14.10 unchanged from Thursday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.45 down from Thursday's 2.47 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Friday's Dow Jones Industrial Average closing numerator was 1,456.65 down 21 from Thursday's closing numerator of 1,477.65. 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 decrease of 21 for Friday by the divisor you get the decrease in Friday's Dow of 158.71. 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 Friday's Dow Jones Industrial Average was $48.86 down 0.40 from Thursday's Dow Jones Industrial Average average closing price of $49.26. The median closing price of Friday's Dow Jones Industrial Average was 44.35 down 1.45 from Thursday's median closing price of $45.80. The lowest volume was Travelers TRV $50.74 0.68 1.32% 5,243,008 NYSE and the highest volume again was Bank of America BAC $17.83 0.47 2.57% 231,283,468 NYSE.
If Friday 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 lost $1,200 ($147,780- $146,580).
Market Watch 4/30/10 4:50 p.m. by Peter McKay, Donna Yesalavich, Kristina Peterson says US stocks tumbled Friday, with a reports of a criminal probe into Goldman Sachs Group and some disappointing tech earnings dragging the major indexes to their worst week since January. For the month, the major indexes posted solid gains. For Friday's session, the Dow Jones Industrial Average (INDU 11,008, -159.24, -1.43%) ended near its session lows, off 158.71 points, or 1.4%, to 11,008.61. All 30 of its components fell, including declines of more than 3% each in J.P Morgan Chase (JPM 42.60, +0.02, +0.05%) , Caterpillar (CAT 68.30, +0.21, +0.31%) , American Express (AXP 46.12, -1.48, -3.11%) , and General Electric (GE 18.96, +0.10, +0.53%) .
Goldman Sachs Group Inc. (GS 144.85, -0.35, -0.24%) , which isn't a Dow component, slid 9.4%. It ended with a 14.9% decline for April, its worst monthly drop since the fall of 2008. Friday's loss helped push stocks to weekly losses. The Dow ended down 1.8%, breaking a string of 8 weekly gains. The S&P 500 (SPX 1,187, -20.10, -1.67%) fell 2.5%, while the Nasdaq Composite (COMP 2,461, -50.73, -2.02%) lost 2.7% for the week. April was kind for the market overall, with major indexes posting their third-straight monthly gain. A generally favorable round of first-quarter profit reports were the major catalyst for the gains, but looking ahead, some traders fear that widening regulatory scrutiny of Wall Street could continue to weigh on the market.
The S&P 500 on Friday fell 1.7% to 1186.69, up 1.5% for April. Its financial sector fell 2.5%, leading a decline that hit every sector except utilities, which managed a 0.5% gain. The Nasdaq Composite Index (COMP 2,461, -50.73, -2.02%) fell 2% to 2461.19, up 2.6% for the month. It was hurt Friday by weak earnings from several technology companies. MEMC Electronic Materials (WFR 12.98, +0.01, +0.08%) , which makes silicon wafers for the solar and semiconductor industries, tumbled 18.6% after the company swung to a first-quarter loss as overhead costs more than doubled. McAfee Inc. /(MFE 34.76, +0.01, +0.03%) shares slid 12.1% after it posted a 30% drop in first-quarter profit as the antivirus-software maker was hit by currency fluctuations and delays in deal closings. Consumer stocks were also big losers after the University of Michigan/Reuters consumer-sentiment index's final reading for April fell to 72.2, from a final March reading of 73.6. J.C. Penney Co. (JCP 29.20, +0.03, +0.10%) shares dropped 6.2%, Abercrombie & Fitch (ANF 43.80, +0.07, +0.16%) slid 5.8% and Macy's (M 23.33, +0.13, +0.56%) dropped 6%. The Commerce Department's report of U.S. economic growth in the first quarter was relatively upbeat. It estimated the U.S. economy grew at a 3.2% annual rate in the first three months of the year. Consumer spending accelerated in the first quarter and the core inflation rate, which excludes food and energy prices and is closely watched by the Fed, fell to its lowest number in 51 years. Crude-oil futures edged up 98 cents to $86.15 a barrel as an oil spill in the Gulf of Mexico reached the Louisiana coast. White House officials said new domestic offshore oil drilling will be on hold until the investigation of the spill is complete, but that currently approved oil and gas projects could go forward. The euro strengthened against the dollar after Greece agreed with the International Monetary Fund and the European Union to take additional austerity measures. The dollar index (DXY 81.87, -0.14, -0.17%) slid about 0.2% for the day but rose for the week and month. Treasury prices advanced, pushing the yield on the 10-year note down to 3.661%. Gold futures rose.
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
All shares declined.
AT&T T $26.06 0.08 0.31% 33,740,978 NYSE
Alcoa AA $13.43 0.29 2.11% 29,285,035 NYSE
American Express AXP $46.12 1.48 3.11% 13,996,618 NYSE
Bank of America BAC $17.83 0.47 2.57% 231,283,468 NYSE
Boeing BA $72.43 1.36 1.84% 5,600,881 NYSE
Caterpillar CAT $68.09 2.66 3.76% 9,428,029 NYSE
Chevron CVX $81.44 0.85 1.03% 13,910,271 NYSE
CSCO $26.93 0.60 2.18% 41,886,891 NASDAQ-GS
Coke KO $53.45 0.29 0.54% 9,674,770 NYSE
Disney DIS $36.84 0.38 1.02% 11,456,311 NYSE
DuPont DD $39.84 0.73 1.8% 9,510,175 NYSE
Exxon XOM $67.77 0.89 1.3% 43,747,183 NYSE
GE $18.86 0.63 3.23% 111,990,981 NYSE
Hewlett-Packard HPQ $51.97 0.91 1.72% 15,731,934 NYSE
Home Depot HD $35.23 0.33 0.93% 15,800,787 NYSE
Intel INTC $22.84 0.65 2.77% 81,823,897 NASDAQ-GS
IBM $129 1.46 1.12% 6,266,689 NYSE
JPMorgan JPM $42.58 1.42 3.23% 54,069,244 NYSE
Johnson & Johnson JNJ $64.3 0.71 1.09% 14,183,818 NYSE
KFT $29.6 0.31 1.04% 12,490,164 NYSE
McDonald's MCD $70.59 0.93 1.3% 6,966,532 NYSE
MRK $35.04 0.21 0.6% 15,721,657 NYSE
Microsoft MSFT $30.535 0.468 1.51% 63,218,534 NASDAQ-GS
Pfizer PFE $16.72 0.14 0.83% 51,013,464 NYSE
PG $62.16 0.04 0.06% 15,768,837 NYSE
MMM $88.67 0.66 0.74% 5,261,981 NYSE
Travelers TRV $50.74 0.68 1.32% 5,243,008 NYSE
United Tec UTX $74.95 1.07 1.41% 5,068,410 NYSE
Verizon VZ $28.9 0.32 1.1% 21,916,475 Dual Listed
WalMart WMT $53.64 0.06 0.11% 16,279,335 NYSE
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The following are excerpts from Friday morning's Blog.
A read of Friday'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 Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 11167.32 up 122.05 or 1.1% from Wednesday's close of 11045.27 For the year the Dow is up 7.09%. Of the 30 Dow Companies: 27 gained and 3declined. The biggest gainer dollar-wise was and percentage-wise was United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE. The biggest decliner dollar-wise and percentage-wise was Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE.
WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Fin times p22 "Investors take heart over bail out and upbeat outlook" byMasa Serdarevic says US stocks prices traded significantly higher yesterday as a Greek bail out package appeared increasingly within sight and investors took heart from the Fed. Reserve's more upbeat outlook on the US economy. Data showed that initial jobless claims declined modestly last week.
NYT pB9 'fin'l Sahres lead the Markets Higher" by ChristineHauser says stocks closed higher on Tur. as investros sifted through corp. earnings that swuggested the economy was recovering.
Thursday's Dow Jones Industrial Average closing numerator was 1,477.65 up 16.15 from Wednesday's closing numerator of 1,461.50. 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 16.15 for Thursday by the divisor you get the increase in Thursday's Dow of 122.05. 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 $49.26 up 0.54 from Wednesday's Dow Jones Industrial Average average closing price of $48.72. The median closing price of Thursday's Dow Jones Industrial Average was 45.80 up 1.03 from Wednesday's median closing price of $44.77. The lowest volume was Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE and the highest volume again was Bank of America BAC $17.3 +0.52 2.92% 174,832,872 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 made $1,620 ($147,780 - $146,160 ).
Market Watch 4/29/10 4:17 p.m. by Nick Godt says US stocks posted their biggest one-day gain in nearly two months on Thursday, powered by a batch of upbeat quarterly earnings and as soothed nerves about reform led financial stocks to rally. The Dow Jones Industrial Average (INDU 11,168, +122.58, +1.11%) gained 122.05 points, or 1.1%, to 11,167.32, with 27 of its 30 components advancing. Blue-chip gains were led by American Express (AXP 47.60, +1.52, +3.30%) , which rallied 3.3%. The S&P 500 index (SPX 1,207, +15.42, +1.29%) rose 15.41 points, or 1.3%, to end at 1,206.77. It was the biggest one-day point gain for both the Dow industrials and the S&P since March 5. The Nasdaq Composite (COMP 2,512, +40.19, +1.63%) rose 40.19 points, or 1.6%, to 2,511.92
AT&T T $26.14 +0.23 0.89% 25,449,542 NYSE: No mentions found.
Aloca AA $13.72 +0.15 1.11% 26,095,226 NYSE: No mentions found.
American Express AXP $47.6 +1.52 3.3% 12,440,676 NYSE: WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Bank of America BAC $18.3 +0.52 2.92% 174,832,872 NYSE: WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
WSJ pC7 "buyer Banks suffer Bad Loan hangovers" by Marshall Eckblad says at JPMorgan and Bank of America the leftovers of the fin'l crisis keep getting moldier as both rew during the recession by buying crumbling rivals sinking under piles of bad loans. BofA bought Countrywide and JPMorgan got Washington Mutual and now the risky loans that came with those deals are turning out even worse they they expected.
WSJ pC11 "Fund Track" by Sam Mamudi says analysts rate Goldman Sachs, JPMorgana nd Bank of America as outperform.
Boeing BA $73.79 +1.42 1.96% 5,171,681 NYSE: WSJ pB6 "Pratt Battles back With new engine" by Peter Sanders says Pratt & Whitney is trying to regain lost ground with a state of the art engine for the commercial aerospace industry. The new engine is called the Geared Turbofan, and is more fuel efficient, quieter and cleaner than anything available although GE and rolls Royce have similar engines ind development, they are years behind Pratt in bringing a new engine to market. Pratt is facing a crucial moment, as Boeing and Airbus are expected to decide later this year whether to redesign their most popular commercial jets and offer the new engine as an option. Pratt is a unit of Unit Technologies. Pratt offered an engine for Boing on the 777 hwich began service in '95, it did not make an engine for the 787.
Caterpillar CAT NYSE: WSJ pB2 "ArcelorMittal Gets Tough" by Robert Matthews, Devon Maylie says ArcelorMittal swinging to a first quarter profit,is poised to being a round of price increases as global markets recover. Caterpillar last week said it expects its cost for raw materials, including steel made by ArcelorMittal, to rise this year. Prices already are up about 36%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Chevron CVX $82.29 +1.67 2.07% 12,207,854 NYSE: No mentions found.
CSCO $27.53 +0.492 1.82% 41,573,152 NASDAQ-GS: WSJ pB5 "H-P Wages Two-Front Fray" by Justin Scheck says Hewlett-Packard's acquisition of smartphone maker Palm highlights how big tech firms are increasingly engaged in a 2 front war to dominate the consumer and corp. tech markets. HPQ is trying to make headway in markets as varied as corp. computing and consumer mobile devices, and in the process of ratcheting up the competition with rivals such as Apple and Cisco Systems Inc.
Coke KO $53.74 0.38 0.71% 8,629,920 NYSE: No mentions found.
Disney DIS $37.22 +0.93 2.56% 10,532,568 NYSE: No mentions found.
DuPont DD $40.5 7+1.11 2.81% 12,033,411 NYSE: WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Exxon XOM $68.66 -0.53 0.77% 47,071,744 NYSE: Fin times p16 "Exxon warns on impact of BP spill" by Sheila McNulty, Carola Hoyos, NYT pB2 "Easing of Oil Losses" by Richard Beales, Chris Swann, Fin times "Higher Oil Prices Raise Profits For Exxon & ConocoPhillips" by Reuters say Exxon warned the oil spill would influence whether the US opens more areas offshore to drilling as Exxon reported a 38% rise in net profit.
WSJ pB4 "Oil Prices Drive Exxon Profit" by Brian Baskin says Exxon Mobil and 2 of its rivals reported a surge in 1Qtr profits due to higher oil prices.Exxon, of Irving, Texas, had earnings of $6.3 bil, or $1.33 a share, up from $4.55 bil, or 92 cents, a year earlier.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
GE $19.49 +0.54 2.85% 69,644,778 NYSE: No mentions found.
Hewlett-Packard HPQ $52.88 -0.40 0.75% 19,446,431 NYSE: WSJ pB5 "H-P Wages Two-Front Fray" by Justin Scheck says Hewlett-Packard's acquisition of smartphone maker Palm highlights how big tech firms are increasingly engaged in a 2 front war to dominate the consumer and corp. tech markets. HPQ is trying to make headway in markets as varied as corp. computing and consumer mobile devices, and in the process of ratcheting up the competition with rivals such as Apple and Cisco Systems Inc.
WSJ pC5 "After Palm Gets an Offer, Options Traders Seek Cover" by Roger cheng says options traders huddled around Palm's contracts following Hewlett-packards offer to buyit as there is a lot of doubt a deal would happen so there was a lot of short interest action.
Home Depot HD $35.56 +0.37 1.05% 16,200,688 NYSE: No mentions found.
Intel INTC $23.49+ 0.23 0.99% 58,765,818 NASDAQ-GS: No mentions found.
IBM $130.46 +0.36 0.28% 5,752,104 NYSE: No mentions found.
JPMorgan JPM $44 +0.54 1.24% 35,847,509 NYSE: WSJ pC7 "buyer Banks suffer Bad Loan hangovers" by Marshall Eckblad says at JPMorgan and Bank of America the leftovers of the fin'l crisis keep getting moldier as both rew during the recession by buying crumbling rivals sinking under piles of bad loans. BofA bought Countrywide and JPMorgan got Washington Mutual and now the risky loans that came with those deals are turning out even worse they they expected.
WSJ pC11 "Fund Track" by Sam Mamudi says analysts rate Goldman Sachs, JPMorgana nd Bank of America as outperform.
Johnson & Johnson JNJ $65.01 +0.39 0.6% 7,821,731 NYSE: NYT pB7 "drug makers toPay Fine of $81 Mil" by AP, AJC pA16 "Two J&J subsidiaries agree to drug settlement" say Johnson & Johnson will pay $81 to settlement charges it illegally promoted the epilepsy drug Topamax for psychiatric uses.
KFT $29.91 +0.16 0.54% 11,403,956 NYSE: No mentions found.
McDonald's MCD $71.52 1.18 1.68% 7,321,059 NYSE: No mentions found.
MRK $35.25 +0.69 2% 18,172,204 NYSE:WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
MSFT $31.003 +0.093 0.3% 52,132,311 NASDAQ-GS: No mentions found.
Pfizer PFE $16.86 +0.33 2% 66,830,486 NYSE: WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE: WSJ pB8 "P&G Puts Up its Dukes Over Prcing" by Ellen Byron says Procter & Gamble is waging an aggressive market share war, cutting prices, accelerating product launches and spending more on advertising in order to win back market share lost during the recession to lower priced rivals, including private label brands. P&G competes with Kimberly Clark in diapers, Colgate for toothpaste & energizer for batteries, as examples.
Fin Times p13 "Consumer goods sales recover"by Jonathan Birchall, Fin times pB9 "Procter, Colgate & Unileer Profit as Brands Sell Again" by AP say three of the world's largest consumer goods groups, Procter Gamble, Unilever and Colgate-Palmolive, reported robust sales led by strong demand in emerging markets in Asia and Latin America. P&G's net revenues increased 7% to $2.59 bil, with net ernings of $2.59 bil. Core earnings per share were up 10% to 87 cents.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
MMM $89.33 +1.09 1.24% 5,244,166 NYSE: No mentions found.
Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE: No mentions found.
United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE: WSJ pB6 "Pratt Battles back With new engine" by Peter Sanders says Pratt & Whitney is trying to regain lost ground with a state of the art engine for the commercial aerospace industry. The new engine is called the Geared Turbofan, and is more fuel efficient, quieter and cleaner than anything available although GE and rolls Royce have similar engines ind development, they are years behind Pratt in bringing a new engine to market. Pratt is facing a crucial moment, as Boeing and Airbus are expected to decide later this year whether to redesign their most popular commercial jets and offer the new engine as an option. Pratt is a unit of Unit Technologies. Pratt offered an engine for Boing on the 777 hwich began service in '95, it did not make an engine for the 787.
Verizon VZ $29.22 +0.10 0.34% 14,734,774 Dual Listed: No mentions found.
WalMart WMT $53.7 +0.09 0.17% 13,243,182 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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
Friday, April 30, 2010
4/30/10 Fri. am J&J Pays $81 Mil to Settle Gov. Charges
wwww.DowJonesMonitor.com
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 407. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
A read of Friday'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 Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 11167.32 up 122.05 or 1.1% from Wednesday's close of 11045.27 For the year the Dow is up 7.09%. Of the 30 Dow Companies: 27 gained and 3declined. The biggest gainer dollar-wise was and percentage-wise was United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE. The biggest decliner dollar-wise and percentage-wise was Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE.
WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Fin times p22 "Investors take heart over bail out and upbeat outlook" byMasa Serdarevic says US stocks prices traded significantly higher yesterday as a Greek bail out package appeared increasingly within sight and investors took heart from the Fed. Reserve's more upbeat outlook on the US economy. Data showed that initial jobless claims declined modestly last week.
NYT pB9 'fin'l Sahres lead the Markets Higher" by ChristineHauser says stocks closed higher on Tur. as investros sifted through corp. earnings that swuggested the economy was recovering.
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 16.70 up from Thursday's 16.59 (year ago it was 32.42) the P/E estimate is 14.10 unchanged from Thursday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.45 down from Thursday's 2.47 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Thursday's Dow Jones Industrial Average closing numerator was 1,477.65 up 16.15 from Wednesday's closing numerator of 1,461.50. 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 16.15 for Thursday by the divisor you get the increase in Thursday's Dow of 122.05. 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 $49.26 up 0.54 from Wednesday's Dow Jones Industrial Average average closing price of $48.72. The median closing price of Thursday's Dow Jones Industrial Average was 45.80 up 1.03 from Wednesday's median closing price of $44.77. The lowest volume was Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE and the highest volume again was Bank of America BAC $17.3 +0.52 2.92% 174,832,872 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 made $1,620 ($147,780 - $146,160 ).
Market Watch 4/29/10 4:17 p.m. by Nick Godt says US stocks posted their biggest one-day gain in nearly two months on Thursday, powered by a batch of upbeat quarterly earnings and as soothed nerves about reform led financial stocks to rally. The Dow Jones Industrial Average (INDU 11,168, +122.58, +1.11%) gained 122.05 points, or 1.1%, to 11,167.32, with 27 of its 30 components advancing. Blue-chip gains were led by American Express (AXP 47.60, +1.52, +3.30%) , which rallied 3.3%. The S&P 500 index (SPX 1,207, +15.42, +1.29%) rose 15.41 points, or 1.3%, to end at 1,206.77. It was the biggest one-day point gain for both the Dow industrials and the S&P since March 5. The Nasdaq Composite (COMP 2,512, +40.19, +1.63%) rose 40.19 points, or 1.6%, to 2,511.92
AT&T T $26.14 +0.23 0.89% 25,449,542 NYSE: No mentions found.
Aloca AA $13.72 +0.15 1.11% 26,095,226 NYSE: No mentions found.
American Express AXP $47.6 +1.52 3.3% 12,440,676 NYSE: WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Bank of America BAC $18.3 +0.52 2.92% 174,832,872 NYSE: WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
WSJ pC7 "buyer Banks suffer Bad Loan hangovers" by Marshall Eckblad says at JPMorgan and Bank of America the leftovers of the fin'l crisis keep getting moldier as both rew during the recession by buying crumbling rivals sinking under piles of bad loans. BofA bought Countrywide and JPMorgan got Washington Mutual and now the risky loans that came with those deals are turning out even worse they they expected.
WSJ pC11 "Fund Track" by Sam Mamudi says analysts rate Goldman Sachs, JPMorgana nd Bank of America as outperform.
Boeing BA $73.79 +1.42 1.96% 5,171,681 NYSE: WSJ pB6 "Pratt Battles back With new engine" by Peter Sanders says Pratt & Whitney is trying to regain lost ground with a state of the art engine for the commercial aerospace industry. The new engine is called the Geared Turbofan, and is more fuel efficient, quieter and cleaner than anything available although GE and rolls Royce have similar engines ind development, they are years behind Pratt in bringing a new engine to market. Pratt is facing a crucial moment, as Boeing and Airbus are expected to decide later this year whether to redesign their most popular commercial jets and offer the new engine as an option. Pratt is a unit of Unit Technologies. Pratt offered an engine for Boing on the 777 hwich began service in '95, it did not make an engine for the 787.
Caterpillar CAT NYSE: WSJ pB2 "ArcelorMittal Gets Tough" by Robert Matthews, Devon Maylie says ArcelorMittal swinging to a first quarter profit,is poised to being a round of price increases as global markets recover. Caterpillar last week said it expects its cost for raw materials, including steel made by ArcelorMittal, to rise this year. Prices already are up about 36%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Chevron CVX $82.29 +1.67 2.07% 12,207,854 NYSE: No mentions found.
CSCO $27.53 +0.492 1.82% 41,573,152 NASDAQ-GS: WSJ pB5 "H-P Wages Two-Front Fray" by Justin Scheck says Hewlett-Packard's acquisition of smartphone maker Palm highlights how big tech firms are increasingly engaged in a 2 front war to dominate the consumer and corp. tech markets. HPQ is trying to make headway in markets as varied as corp. computing and consumer mobile devices, and in the process of ratcheting up the competition with rivals such as Apple and Cisco Systems Inc.
Coke KO $53.74 0.38 0.71% 8,629,920 NYSE: No mentions found.
Disney DIS $37.22 +0.93 2.56% 10,532,568 NYSE: No mentions found.
DuPont DD $40.5 7+1.11 2.81% 12,033,411 NYSE: WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Exxon XOM $68.66 -0.53 0.77% 47,071,744 NYSE: Fin times p16 "Exxon warns on impact of BP spill" by Sheila McNulty, Carola Hoyos, NYT pB2 "Easing of Oil Losses" by Richard Beales, Chris Swann, Fin times "Higher Oil Prices Raise Profits For Exxon & ConocoPhillips" by Reuters say Exxon warned the oil spill would influence whether the US opens more areas offshore to drilling as Exxon reported a 38% rise in net profit.
WSJ pB4 "Oil Prices Drive Exxon Profit" by Brian Baskin says Exxon Mobil and 2 of its rivals reported a surge in 1Qtr profits due to higher oil prices.Exxon, of Irving, Texas, had earnings of $6.3 bil, or $1.33 a share, up from $4.55 bil, or 92 cents, a year earlier.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
GE $19.49 +0.54 2.85% 69,644,778 NYSE: No mentions found.
Hewlett-Packard HPQ $52.88 -0.40 0.75% 19,446,431 NYSE: WSJ pB5 "H-P Wages Two-Front Fray" by Justin Scheck says Hewlett-Packard's acquisition of smartphone maker Palm highlights how big tech firms are increasingly engaged in a 2 front war to dominate the consumer and corp. tech markets. HPQ is trying to make headway in markets as varied as corp. computing and consumer mobile devices, and in the process of ratcheting up the competition with rivals such as Apple and Cisco Systems Inc.
WSJ pC5 "After Palm Gets an Offer, Options Traders Seek Cover" by Roger cheng says options traders huddled around Palm's contracts following Hewlett-packards offer to buyit as there is a lot of doubt a deal would happen so there was a lot of short interest action.
Home Depot HD $35.56 +0.37 1.05% 16,200,688 NYSE: No mentions found.
Intel INTC $23.49+ 0.23 0.99% 58,765,818 NASDAQ-GS: No mentions found.
IBM $130.46 +0.36 0.28% 5,752,104 NYSE: No mentions found.
JPMorgan JPM $44 +0.54 1.24% 35,847,509 NYSE: WSJ pC7 "buyer Banks suffer Bad Loan hangovers" by Marshall Eckblad says at JPMorgan and Bank of America the leftovers of the fin'l crisis keep getting moldier as both rew during the recession by buying crumbling rivals sinking under piles of bad loans. BofA bought Countrywide and JPMorgan got Washington Mutual and now the risky loans that came with those deals are turning out even worse they they expected.
WSJ pC11 "Fund Track" by Sam Mamudi says analysts rate Goldman Sachs, JPMorgana nd Bank of America as outperform.
Johnson & Johnson JNJ $65.01 +0.39 0.6% 7,821,731 NYSE: NYT pB7 "drug makers toPay Fine of $81 Mil" by AP, AJC pA16 "Two J&J subsidiaries agree to drug settlement" say Johnson & Johnson will pay $81 to settlement charges it illegally promoted the epilepsy drug Topamax for psychiatric uses.
KFT $29.91 +0.16 0.54% 11,403,956 NYSE: No mentions found.
McDonald's MCD $71.52 1.18 1.68% 7,321,059 NYSE: No mentions found.
MRK $35.25 +0.69 2% 18,172,204 NYSE:WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
MSFT $31.003 +0.093 0.3% 52,132,311 NASDAQ-GS: No mentions found.
Pfizer PFE $16.86 +0.33 2% 66,830,486 NYSE: WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE: WSJ pB8 "P&G Puts Up its Dukes Over Prcing" by Ellen Byron says Procter & Gamble is waging an aggressive market share war, cutting prices, accelerating product launches and spending more on advertising in order to win back market share lost during the recession to lower priced rivals, including private label brands. P&G competes with Kimberly Clark in diapers, Colgate for toothpaste & energizer for batteries, as examples.
Fin Times p13 "Consumer goods sales recover"by Jonathan Birchall, Fin times pB9 "Procter, Colgate & Unileer Profit as Brands Sell Again" by AP say three of the world's largest consumer goods groups, Procter Gamble, Unilever and Colgate-Palmolive, reported robust sales led by strong demand in emerging markets in Asia and Latin America. P&G's net revenues increased 7% to $2.59 bil, with net ernings of $2.59 bil. Core earnings per share were up 10% to 87 cents.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
MMM $89.33 +1.09 1.24% 5,244,166 NYSE: No mentions found.
Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE: No mentions found.
United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE: WSJ pB6 "Pratt Battles back With new engine" by Peter Sanders says Pratt & Whitney is trying to regain lost ground with a state of the art engine for the commercial aerospace industry. The new engine is called the Geared Turbofan, and is more fuel efficient, quieter and cleaner than anything available although GE and rolls Royce have similar engines ind development, they are years behind Pratt in bringing a new engine to market. Pratt is facing a crucial moment, as Boeing and Airbus are expected to decide later this year whether to redesign their most popular commercial jets and offer the new engine as an option. Pratt is a unit of Unit Technologies. Pratt offered an engine for Boing on the 777 hwich began service in '95, it did not make an engine for the 787.
Verizon VZ $29.22 +0.10 0.34% 14,734,774 Dual Listed: No mentions found.
WalMart WMT $53.7 +0.09 0.17% 13,243,182 NYSE: No mentions found.
*************************
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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 407. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
A read of Friday'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 Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 11167.32 up 122.05 or 1.1% from Wednesday's close of 11045.27 For the year the Dow is up 7.09%. Of the 30 Dow Companies: 27 gained and 3declined. The biggest gainer dollar-wise was and percentage-wise was United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE. The biggest decliner dollar-wise and percentage-wise was Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE.
WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Fin times p22 "Investors take heart over bail out and upbeat outlook" byMasa Serdarevic says US stocks prices traded significantly higher yesterday as a Greek bail out package appeared increasingly within sight and investors took heart from the Fed. Reserve's more upbeat outlook on the US economy. Data showed that initial jobless claims declined modestly last week.
NYT pB9 'fin'l Sahres lead the Markets Higher" by ChristineHauser says stocks closed higher on Tur. as investros sifted through corp. earnings that swuggested the economy was recovering.
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 16.70 up from Thursday's 16.59 (year ago it was 32.42) the P/E estimate is 14.10 unchanged from Thursday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.45 down from Thursday's 2.47 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Thursday's Dow Jones Industrial Average closing numerator was 1,477.65 up 16.15 from Wednesday's closing numerator of 1,461.50. 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 16.15 for Thursday by the divisor you get the increase in Thursday's Dow of 122.05. 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 $49.26 up 0.54 from Wednesday's Dow Jones Industrial Average average closing price of $48.72. The median closing price of Thursday's Dow Jones Industrial Average was 45.80 up 1.03 from Wednesday's median closing price of $44.77. The lowest volume was Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE and the highest volume again was Bank of America BAC $17.3 +0.52 2.92% 174,832,872 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 made $1,620 ($147,780 - $146,160 ).
Market Watch 4/29/10 4:17 p.m. by Nick Godt says US stocks posted their biggest one-day gain in nearly two months on Thursday, powered by a batch of upbeat quarterly earnings and as soothed nerves about reform led financial stocks to rally. The Dow Jones Industrial Average (INDU 11,168, +122.58, +1.11%) gained 122.05 points, or 1.1%, to 11,167.32, with 27 of its 30 components advancing. Blue-chip gains were led by American Express (AXP 47.60, +1.52, +3.30%) , which rallied 3.3%. The S&P 500 index (SPX 1,207, +15.42, +1.29%) rose 15.41 points, or 1.3%, to end at 1,206.77. It was the biggest one-day point gain for both the Dow industrials and the S&P since March 5. The Nasdaq Composite (COMP 2,512, +40.19, +1.63%) rose 40.19 points, or 1.6%, to 2,511.92
AT&T T $26.14 +0.23 0.89% 25,449,542 NYSE: No mentions found.
Aloca AA $13.72 +0.15 1.11% 26,095,226 NYSE: No mentions found.
American Express AXP $47.6 +1.52 3.3% 12,440,676 NYSE: WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Bank of America BAC $18.3 +0.52 2.92% 174,832,872 NYSE: WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
WSJ pC7 "buyer Banks suffer Bad Loan hangovers" by Marshall Eckblad says at JPMorgan and Bank of America the leftovers of the fin'l crisis keep getting moldier as both rew during the recession by buying crumbling rivals sinking under piles of bad loans. BofA bought Countrywide and JPMorgan got Washington Mutual and now the risky loans that came with those deals are turning out even worse they they expected.
WSJ pC11 "Fund Track" by Sam Mamudi says analysts rate Goldman Sachs, JPMorgana nd Bank of America as outperform.
Boeing BA $73.79 +1.42 1.96% 5,171,681 NYSE: WSJ pB6 "Pratt Battles back With new engine" by Peter Sanders says Pratt & Whitney is trying to regain lost ground with a state of the art engine for the commercial aerospace industry. The new engine is called the Geared Turbofan, and is more fuel efficient, quieter and cleaner than anything available although GE and rolls Royce have similar engines ind development, they are years behind Pratt in bringing a new engine to market. Pratt is facing a crucial moment, as Boeing and Airbus are expected to decide later this year whether to redesign their most popular commercial jets and offer the new engine as an option. Pratt is a unit of Unit Technologies. Pratt offered an engine for Boing on the 777 hwich began service in '95, it did not make an engine for the 787.
Caterpillar CAT NYSE: WSJ pB2 "ArcelorMittal Gets Tough" by Robert Matthews, Devon Maylie says ArcelorMittal swinging to a first quarter profit,is poised to being a round of price increases as global markets recover. Caterpillar last week said it expects its cost for raw materials, including steel made by ArcelorMittal, to rise this year. Prices already are up about 36%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Chevron CVX $82.29 +1.67 2.07% 12,207,854 NYSE: No mentions found.
CSCO $27.53 +0.492 1.82% 41,573,152 NASDAQ-GS: WSJ pB5 "H-P Wages Two-Front Fray" by Justin Scheck says Hewlett-Packard's acquisition of smartphone maker Palm highlights how big tech firms are increasingly engaged in a 2 front war to dominate the consumer and corp. tech markets. HPQ is trying to make headway in markets as varied as corp. computing and consumer mobile devices, and in the process of ratcheting up the competition with rivals such as Apple and Cisco Systems Inc.
Coke KO $53.74 0.38 0.71% 8,629,920 NYSE: No mentions found.
Disney DIS $37.22 +0.93 2.56% 10,532,568 NYSE: No mentions found.
DuPont DD $40.5 7+1.11 2.81% 12,033,411 NYSE: WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Exxon XOM $68.66 -0.53 0.77% 47,071,744 NYSE: Fin times p16 "Exxon warns on impact of BP spill" by Sheila McNulty, Carola Hoyos, NYT pB2 "Easing of Oil Losses" by Richard Beales, Chris Swann, Fin times "Higher Oil Prices Raise Profits For Exxon & ConocoPhillips" by Reuters say Exxon warned the oil spill would influence whether the US opens more areas offshore to drilling as Exxon reported a 38% rise in net profit.
WSJ pB4 "Oil Prices Drive Exxon Profit" by Brian Baskin says Exxon Mobil and 2 of its rivals reported a surge in 1Qtr profits due to higher oil prices.Exxon, of Irving, Texas, had earnings of $6.3 bil, or $1.33 a share, up from $4.55 bil, or 92 cents, a year earlier.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
GE $19.49 +0.54 2.85% 69,644,778 NYSE: No mentions found.
Hewlett-Packard HPQ $52.88 -0.40 0.75% 19,446,431 NYSE: WSJ pB5 "H-P Wages Two-Front Fray" by Justin Scheck says Hewlett-Packard's acquisition of smartphone maker Palm highlights how big tech firms are increasingly engaged in a 2 front war to dominate the consumer and corp. tech markets. HPQ is trying to make headway in markets as varied as corp. computing and consumer mobile devices, and in the process of ratcheting up the competition with rivals such as Apple and Cisco Systems Inc.
WSJ pC5 "After Palm Gets an Offer, Options Traders Seek Cover" by Roger cheng says options traders huddled around Palm's contracts following Hewlett-packards offer to buyit as there is a lot of doubt a deal would happen so there was a lot of short interest action.
Home Depot HD $35.56 +0.37 1.05% 16,200,688 NYSE: No mentions found.
Intel INTC $23.49+ 0.23 0.99% 58,765,818 NASDAQ-GS: No mentions found.
IBM $130.46 +0.36 0.28% 5,752,104 NYSE: No mentions found.
JPMorgan JPM $44 +0.54 1.24% 35,847,509 NYSE: WSJ pC7 "buyer Banks suffer Bad Loan hangovers" by Marshall Eckblad says at JPMorgan and Bank of America the leftovers of the fin'l crisis keep getting moldier as both rew during the recession by buying crumbling rivals sinking under piles of bad loans. BofA bought Countrywide and JPMorgan got Washington Mutual and now the risky loans that came with those deals are turning out even worse they they expected.
WSJ pC11 "Fund Track" by Sam Mamudi says analysts rate Goldman Sachs, JPMorgana nd Bank of America as outperform.
Johnson & Johnson JNJ $65.01 +0.39 0.6% 7,821,731 NYSE: NYT pB7 "drug makers toPay Fine of $81 Mil" by AP, AJC pA16 "Two J&J subsidiaries agree to drug settlement" say Johnson & Johnson will pay $81 to settlement charges it illegally promoted the epilepsy drug Topamax for psychiatric uses.
KFT $29.91 +0.16 0.54% 11,403,956 NYSE: No mentions found.
McDonald's MCD $71.52 1.18 1.68% 7,321,059 NYSE: No mentions found.
MRK $35.25 +0.69 2% 18,172,204 NYSE:WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
MSFT $31.003 +0.093 0.3% 52,132,311 NASDAQ-GS: No mentions found.
Pfizer PFE $16.86 +0.33 2% 66,830,486 NYSE: WSJ pC1 "Dow Climbs 122.05 Points in 14th Gain Over 16 Days" by Kristina Peterson, Donna Yesalavich says the Dow posted its biggest one day gain in more than a month, driven by strong earnings reports and data showing improving manufacturing conditions in the Midwest. American Express was the Dow's top performer, rising 3.3%. Pfizer and Merck each rose 2%.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE: WSJ pB8 "P&G Puts Up its Dukes Over Prcing" by Ellen Byron says Procter & Gamble is waging an aggressive market share war, cutting prices, accelerating product launches and spending more on advertising in order to win back market share lost during the recession to lower priced rivals, including private label brands. P&G competes with Kimberly Clark in diapers, Colgate for toothpaste & energizer for batteries, as examples.
Fin Times p13 "Consumer goods sales recover"by Jonathan Birchall, Fin times pB9 "Procter, Colgate & Unileer Profit as Brands Sell Again" by AP say three of the world's largest consumer goods groups, Procter Gamble, Unilever and Colgate-Palmolive, reported robust sales led by strong demand in emerging markets in Asia and Latin America. P&G's net revenues increased 7% to $2.59 bil, with net ernings of $2.59 bil. Core earnings per share were up 10% to 87 cents.
WSJ pC5 "Industrials DuPont and Caterpillar Gain" by Donna Yesalavich says stocks climbed as a report of improving manufacturing conditions lifted industrial giants Caterpillar and DuPont, while strong earnings from a number of firms, including Bristol Myers Squibb, also provided a boost. The Dow's fin'l components were strong as the Senate opened debate on sweeping fin'l overhaul legislation. American Express jumped 3.3%, while Bank of America climbed 2.9%. Procter & Gamble is charted under Bad news as its quarterly earnings fell 1% although sales rose, as price battles to win back consumers are escalating. Pfizer is charted under good news saying it had a strong earning report, along with Merck' which proved optimism for the broader health care industry is increasing. Procter Gamble led the decliners with a drop of 1.5%. Exxon fell 0.8% as its 1Qtr earnings rose 38% as a result of lower refining margins offsetting the big benefit from surgin oil prices. Its earnings and rev missed expectations.
MMM $89.33 +1.09 1.24% 5,244,166 NYSE: No mentions found.
Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE: No mentions found.
United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE: WSJ pB6 "Pratt Battles back With new engine" by Peter Sanders says Pratt & Whitney is trying to regain lost ground with a state of the art engine for the commercial aerospace industry. The new engine is called the Geared Turbofan, and is more fuel efficient, quieter and cleaner than anything available although GE and rolls Royce have similar engines ind development, they are years behind Pratt in bringing a new engine to market. Pratt is facing a crucial moment, as Boeing and Airbus are expected to decide later this year whether to redesign their most popular commercial jets and offer the new engine as an option. Pratt is a unit of Unit Technologies. Pratt offered an engine for Boing on the 777 hwich began service in '95, it did not make an engine for the 787.
Verizon VZ $29.22 +0.10 0.34% 14,734,774 Dual Listed: No mentions found.
WalMart WMT $53.7 +0.09 0.17% 13,243,182 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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
Thursday, April 29, 2010
4/29/10 Thurs. pm Dow Closes 11167.32 up 122.05 or 1.1%
wwww.DowJonesMonitor.com
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 406. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
The Dow Jones Industrial Average closed Thursday at 11167.32 up 122.05 or 1.1% from Wednesday's close of 11045.27 Of the 30 Dow Companies: 27 gained and 3declined. The biggest gainer dollar-wise was and percentage-wise was United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE. The biggest decliner dollar-wise and percentage-wise was Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE.
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 16.59 up from Wednesday's 16.51 (year ago it was 32.33) the P/E estimate is 14.10 unchanged from Wednesday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.47 dpwm from Wednesday's 2.48 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Thursday's Dow Jones Industrial Average closing numerator was 1,477.65 up 16.15 from Wednesday's closing numerator of 1,461.50. 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 16.15 for Thursday by the divisor you get the increase in Thursday's Dow of 122.05. 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 $49.26 up 0.54 from Wednesday's Dow Jones Industrial Average average closing price of $48.72. The median closing price of Thursday's Dow Jones Industrial Average was 45.80 up 1.03 from Wednesday's median closing price of $44.77. The lowest volume was Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE and the highest volume again was Bank of America BAC $17.3 +0.52 2.92% 174,832,872 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 made $1,620 ($147,780 - $146,160 ).
Market Watch 4/29/10 4:17 p.m. by Nick Godt says US stocks posted their biggest one-day gain in nearly two months on Thursday, powered by a batch of upbeat quarterly earnings and as soothed nerves about reform led financial stocks to rally. The Dow Jones Industrial Average (INDU 11,168, +122.58, +1.11%) gained 122.05 points, or 1.1%, to 11,167.32, with 27 of its 30 components advancing. Blue-chip gains were led by American Express (AXP 47.60, +1.52, +3.30%) , which rallied 3.3%. The S&P 500 index (SPX 1,207, +15.42, +1.29%) rose 15.41 points, or 1.3%, to end at 1,206.77. It was the biggest one-day point gain for both the Dow industrials and the S&P since March 5. The Nasdaq Composite (COMP 2,512, +40.19, +1.63%) rose 40.19 points, or 1.6%, to 2,511.92
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $26.14 +0.23 0.89% 25,449,542 NYSE
Aloca AA $13.72 +0.15 1.11% 26,095,226 NYSE
American Express AXP $47.6 +1.52 3.3% 12,440,676 NYSE
Bank of America BAC $18.3 +0.52 2.92% 174,832,872 NYSE
Boeing BA $73.79 +1.42 1.96% 5,171,681 NYSE
Chevron CVX $82.29 +1.67 2.07% 12,207,854 NYSE
CSCO $27.53 +0.492 1.82% 41,573,152 NASDAQ-GS
Coke KO $53.74 0.38 0.71% 8,629,920 NYSE
Disney DIS $37.22 +0.93 2.56% 10,532,568 NYSE
DuPont DD $40.5 7+1.11 2.81% 12,033,411 NYSE
Exxon XOM $68.66 -0.53 0.77% 47,071,744 NYSE
GE $19.49 +0.54 2.85% 69,644,778 NYSE
hewlett-PackardHPQ $52.88 -0.40 0.75% 19,446,431 NYSE
Home Depot HD $35.56 +0.37 1.05% 16,200,688 NYSE
Intel INTC $23.49+ 0.23 0.99% 58,765,818 NASDAQ-GS
IBM $130.46 +0.36 0.28% 5,752,104 NYSE
JPMorgan JPM $44 +0.54 1.24% 35,847,509 NYSE
Johnson & Johnson JNJ $65.01 +0.39 0.6% 7,821,731 NYSE
KFT $29.91 +0.16 0.54% 11,403,956 NYSE
McDonald's MCD $71.52 1.18 1.68% 7,321,059 NYSE
MRK $35.25 +0.69 2% 18,172,204 NYSE
MSFT $31.003 +0.093 0.3% 52,132,311 NASDAQ-GS
Pfizer PFE $16.86 +0.33 2% 66,830,486 NYSE
Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE
MMM $89.33 +1.09 1.24% 5,244,166 NYSE
Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE
United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE
Verizon VZ $29.22 +0.10 0.34% 14,734,774 DualListed
WalMart WMT $53.7 +0.09 0.17% 13,243,182 NYSE
Read more: http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=KO&selected=KO#ixzz0mWW3WHhz
Read more: http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=T&selected=T#ixzz0mWV7tU6E
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The following are excerpts from Thurs. morning's Blog.
A read of Thursday'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 Tuesday's stock prices and related data.
Dow: The Dow Jones Industrial Average closed Wednesday at 11045.27 up 53.28 or 0.48% from Tuesday's close of 10991.91. For the year the Dow is up 5.92%. Of the 30 Dow Companies: gained and declined. The biggest gainer dollar-wise was IBM $130.1 +1.28 0.99% 7,122,626 NYSE and percentage-wise was JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE. The biggest decliner dollar-wise was WalMart WMT $53.61 -0.43 0.8% 14,897,349 NYSE and percentage-wise was Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS.
WSJ pC1 "Fed's Pledge Pushes Dow Up by 53.28" by Donna Yesalavich, Kristina Peterson says stocks rose as the Fed. Res. maintained its pledge to keep ingterest rates low for an extended period, a signal to many that the spigot of easy money will continue through the end of the year.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Fin Times p28 "Decision on rates helps to keep rally from losing steam" by Masa Serdarevic says a downgrade of Spain's sovereign debt briefly shook US stock markets yesterday bu filed to break the session's rally, as investors welcomed the Fed. Res's decision to keep the benchmark interest rate near zero.
USA p4B "Sizzling ernings season boosts stocks" by Bloomberg says US stocks rose Wed, rebounding from the biggest drop since Fed, as high than estimated earnings and the Fed. Res's pledge to keep interest rates at a record low overshadowed a downgrade of Spain's debt rating.
NYT pB13 "Buoyed by the Fed's Stance, Investors Push Sahres Higher" by Christine Hauser says stocks pushed past concerns over a widening European debt crisis and closed higher on Wall st. on Wed, after the Fed. Res. reassured investors that the economy was iproving and left itnerst rates untouched as predicted.
Wednesday's Dow Jones Industrial Average closing numerator was 1,461.50 up 7.05 from Tuesday's closing numerator of 1,454.45. 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 7.05 for Wednesday by the divisor you get the increase in Wednesday's Dow of 53.28. 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 $48.72 up 0.24 from Tuesday's Dow Jones Industrial Average average closing price of $48.48. The median closing price of Wednesday's Dow Jones Industrial Average was 44.77 up 0.67 from Tuesday's median closing price of $44.10. The lowest volume was MMM $88.24 +0.27 0.31% 5,728,952 NYSE and the highest volume again was Bank of America BAC $17.78 +0.31 1.77% 194,943,435 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 $720 ($146,160 -$145,440).
Market Watch 4/2810 5:08 p.m. by Kate Gibson says US stocks on Wednesday made a moderate rebound after stronger earnings and a Federal Reserve commitment to keep rates low offset investor unease over Southern Europe's sovereign debt problems.
The Dow Jones Industrial Average (INDU 11,045, +53.50, +0.49%) ended up 53.28 points, or 0.5%, to 11,045.27, led by a 2.5% rise in J.P. Morgan Chase Co. (JPM 43.61, +0.15, +0.35%) shares and a 1.8% gain in Bank of America Corp. (BAC 17.82, +0.04, +0.23%) . Financial stocks also led the S&P 500 higher, getting a lift from some earnings reports, a stalled debate on a bank-reform bill and the Fed's pledge to keep rates low. The S&P 500 SPX 1,191, +7.65, +0.65%) ended up 7.65 points, or 0.7%, to 1,191.36, boosted by more than 1% gain in financials and energy sectors. The Nasdaq Composite (COMP 2,472, +0.26, +0.01%) rose 0.26 point, or 0.01%, to 2,471.73. The major stock indexes, which had dropped sharply in the prior session and wavered in early Wednesday trading, solidified their gains after the Fed reiterated economic conditions warrant leaving rates low for what is likely to be an extended period. The Fed has left rates at an historic low of 0% to 0.25% as it awaits more signs the economy is firmly on the mend. Stocks faltered briefly after Standard & Poor's cut Spain's rating by one notch to AA, the latest blow to Europe's credit outlook. The major indexes had declined the most in nearly three months in the prior session after Standard & Poor's cut its rating on Greece's debt to junk status, and lowered Portugal's debt rating by two notches Read Market Snapshot on Tuesday's stock market. Corporate results on Wednesday included better-than-anticipated reports from raw-materials bellwether Dow Chemical Co. (DOW 31.88, +0.05, +0.16%) , investment manager Invesco Ltd. (IVZ 21.61, +0.88, +4.25%) and media company Comcast Corp. (CMCS.A 18.77, +0.35, +1.90%) (CMCS.K 17.82, +0.30, +1.71%) . Dow Chemical shares added 5.9%. For every stock on the decline more than two were on the rise on the New York Stock Exchange, where nearly 1.4 billion shares traded hands. Gold futures extended their winning streak to a fourth-straight day, adding $9.60, or 0.8%, to settle at $1,171.80 an ounce on Comex. The euro turned lower after the Spain rating cut. In addition to other worries, some analysts expressed concern that economic problems in Europe could dent sales for global companies doing business overseas. See currencies on dollar, euro. Greece has yet to tap into almost $60 billion in rescue funds from the European Union and the International Monetary Fund, with worries mounting that the country could default on more than $11 billion in debt payments due in the middle of next month.
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $25.91 -0.04 0.15% 34,146,407 NYSE: USA pB "Toktumi's Line2 has an answer for yor AT&T iPhone hang-ups" by Edward Baig says a 99 cent iPhone app called Line2 is it allow you to receive calls over the Internet through Wi-Fi so you can overcome poor AT&T reception.
NYT pB8 "Dead Zone doldrums Test Skills of iPhone Csutomers" by Paul Boutin says the iPhone's cellular coverage, provided exclusively by AT&t wireless, is spotty and in some parts of NY and San Fran it is impossible to connect.
Alcoa AA $13.57 +0.13 0.97% 32,566,951 NYSE: No mentions found.
American Express AXP $46.08 +0.29 0.63% 9,533,263 NYSE: WSJ pC6 "A Rare Spotting: ABS Normalcy" by Anrusha Shrivastava says American Express on Wed sold its first credit card loan bond since the gov withdrew support for the asset backed securities market, drawing enough interest to increase the issue size even as it offered investors less than it did a few months ago. The deal for $911.8 mil, up from an original $804.5 mil, came in two parts with different interest rates.
Bank of America BAC $17.78 +0.31 1.77% 194,943,435 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin, NYT pB13 "Bank of americ names a New Chairman" by Reuers say Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Boeing BA $72.37 -0.11 0.15% 5,699,102 NYSE: No mentions found.
CAT $68.97 0.44 0.64% 8,232,183 NYSE: No mentions found.
Chevron CVX $80.62 +0.39 0.49% 12,112,465 NYSE: No mentions found.
CSCO $27.038 +0.028 0.1% 54,465,582 NASDAQ-GS: No mentions found.
Coke KO $53.36 +0.49 0.93% 12,373,984 NYSE: No mentions found.
Disney DIS $36.29 -0.03 0.08% 10,930,846 NYSE: No mentions found.
DuPont DD $39.46 +0.06 0.15% 12,069,382 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin says Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
Exxon XOM $69.19 +0.92 1.35% 33,227,931 NYSE: WSJ pB1 "Primed at the Pump: Exxon Is Poised to Rally" by Liam Denning says Exxon will likely bat the consensus earnings forecast of $1.41 compared with 92 cents a share int he same period a year ago when it reports earnings today.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
GE $18.95 +0.25 1.34% 84,943,035 NYSE: No mentions found.
Hewlett-Packard HPQ $53.28 +0.03 0.06% 15,992,238 NYSE: WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, NYT pB1 "HP to Pay $1.2 bil For Palm" by Ashlee Vance, Jenna Wortham USA p1B "HP play for Palm puts it in smartphone market' by Jon Swartz, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Home Depot HD $35.19 -0.10 0.28% 19,375,010 NYSE: No mentions found.
Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS: No mentions found.
IBM $130.1 +1.28 0.99% 7,122,626 NYSE: No mentions found.
JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE: No mentions found.
Johnson & Johnson JNJ $64.62 +0.34 0.53% 12,442,576 NYSE: No mentions found.
KFT $29.75 +0.25 0.85% 10,250,303 NYSE: No mentions found.
McDonald's MCD $70.34 -0.19 0.27% 7,588,984 NYSE: No mentions found.
MRK $34.56 +0.08 0.23% 16,878,684 NYSE: No mentions found.
Microsoft MSFT $30.91 +0.065 0.21% 64,452,383 NASDAQ-GS: WSJ pB4 "Gates Invests In Creating New Drugs" by Robert Guth says Microsoft founder Bill Gates invested $10 mil into Schrodinger in a quest to use computers to revolutionize drug development.
Fin Times p16 "Microsoft succeeds in claim over Android property rights" by Richard Waters, WSJ pB4 "HTC Secures Access to Microsoft Patents", USA pB1 say HTC signed a licensing deal to use MSFT's patents in handsets powered by Google's Android software.
WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Pfizer PFE $16.53 +0.07 0.43% 60,511,845 NYSE: No mentions found.
Procter & Gamble PG $63.17 +0.06 0.1% 13,082,158 NYSE: No mentions found.
MMM $88.24 +0.27 0.31% 5,728,952 NYSE: No mentions found.
Travelers TRV $51.12 +0.59 1.17% 6,404,956 NYSE: No mentions found.
United Tech UTX $74.66 +0.34 0.46% 6,122,576 NYSE: No mentions found.
Verizon VZ $29.12 +0.37 1.29% 26,599,529 Dual Listed: No mentions found.
WalMart WMT $53.61 -0.43 0.8% 14,897,349 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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 406. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
The Dow Jones Industrial Average closed Thursday at 11167.32 up 122.05 or 1.1% from Wednesday's close of 11045.27 Of the 30 Dow Companies: 27 gained and 3declined. The biggest gainer dollar-wise was and percentage-wise was United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE. The biggest decliner dollar-wise and percentage-wise was Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE.
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 16.59 up from Wednesday's 16.51 (year ago it was 32.33) the P/E estimate is 14.10 unchanged from Wednesday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.47 dpwm from Wednesday's 2.48 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Thursday's Dow Jones Industrial Average closing numerator was 1,477.65 up 16.15 from Wednesday's closing numerator of 1,461.50. 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 16.15 for Thursday by the divisor you get the increase in Thursday's Dow of 122.05. 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 $49.26 up 0.54 from Wednesday's Dow Jones Industrial Average average closing price of $48.72. The median closing price of Thursday's Dow Jones Industrial Average was 45.80 up 1.03 from Wednesday's median closing price of $44.77. The lowest volume was Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE and the highest volume again was Bank of America BAC $17.3 +0.52 2.92% 174,832,872 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 made $1,620 ($147,780 - $146,160 ).
Market Watch 4/29/10 4:17 p.m. by Nick Godt says US stocks posted their biggest one-day gain in nearly two months on Thursday, powered by a batch of upbeat quarterly earnings and as soothed nerves about reform led financial stocks to rally. The Dow Jones Industrial Average (INDU 11,168, +122.58, +1.11%) gained 122.05 points, or 1.1%, to 11,167.32, with 27 of its 30 components advancing. Blue-chip gains were led by American Express (AXP 47.60, +1.52, +3.30%) , which rallied 3.3%. The S&P 500 index (SPX 1,207, +15.42, +1.29%) rose 15.41 points, or 1.3%, to end at 1,206.77. It was the biggest one-day point gain for both the Dow industrials and the S&P since March 5. The Nasdaq Composite (COMP 2,512, +40.19, +1.63%) rose 40.19 points, or 1.6%, to 2,511.92
Thursday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $26.14 +0.23 0.89% 25,449,542 NYSE
Aloca AA $13.72 +0.15 1.11% 26,095,226 NYSE
American Express AXP $47.6 +1.52 3.3% 12,440,676 NYSE
Bank of America BAC $18.3 +0.52 2.92% 174,832,872 NYSE
Boeing BA $73.79 +1.42 1.96% 5,171,681 NYSE
Chevron CVX $82.29 +1.67 2.07% 12,207,854 NYSE
CSCO $27.53 +0.492 1.82% 41,573,152 NASDAQ-GS
Coke KO $53.74 0.38 0.71% 8,629,920 NYSE
Disney DIS $37.22 +0.93 2.56% 10,532,568 NYSE
DuPont DD $40.5 7+1.11 2.81% 12,033,411 NYSE
Exxon XOM $68.66 -0.53 0.77% 47,071,744 NYSE
GE $19.49 +0.54 2.85% 69,644,778 NYSE
hewlett-PackardHPQ $52.88 -0.40 0.75% 19,446,431 NYSE
Home Depot HD $35.56 +0.37 1.05% 16,200,688 NYSE
Intel INTC $23.49+ 0.23 0.99% 58,765,818 NASDAQ-GS
IBM $130.46 +0.36 0.28% 5,752,104 NYSE
JPMorgan JPM $44 +0.54 1.24% 35,847,509 NYSE
Johnson & Johnson JNJ $65.01 +0.39 0.6% 7,821,731 NYSE
KFT $29.91 +0.16 0.54% 11,403,956 NYSE
McDonald's MCD $71.52 1.18 1.68% 7,321,059 NYSE
MRK $35.25 +0.69 2% 18,172,204 NYSE
MSFT $31.003 +0.093 0.3% 52,132,311 NASDAQ-GS
Pfizer PFE $16.86 +0.33 2% 66,830,486 NYSE
Procter & Gamble PG $62.2 -0.97 1.54% 26,908,756 NYSE
MMM $89.33 +1.09 1.24% 5,244,166 NYSE
Travelers TRV $51.42 +0.30 0.59% 4,849,517 NYSE
United Tech UTX $76.02 +1.36 1.82% 4,945,941 NYSE
Verizon VZ $29.22 +0.10 0.34% 14,734,774 DualListed
WalMart WMT $53.7 +0.09 0.17% 13,243,182 NYSE
Read more: http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=KO&selected=KO#ixzz0mWW3WHhz
Read more: http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=T&selected=T#ixzz0mWV7tU6E
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The following are excerpts from Thurs. morning's Blog.
A read of Thursday'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 Tuesday's stock prices and related data.
Dow: The Dow Jones Industrial Average closed Wednesday at 11045.27 up 53.28 or 0.48% from Tuesday's close of 10991.91. For the year the Dow is up 5.92%. Of the 30 Dow Companies: gained and declined. The biggest gainer dollar-wise was IBM $130.1 +1.28 0.99% 7,122,626 NYSE and percentage-wise was JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE. The biggest decliner dollar-wise was WalMart WMT $53.61 -0.43 0.8% 14,897,349 NYSE and percentage-wise was Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS.
WSJ pC1 "Fed's Pledge Pushes Dow Up by 53.28" by Donna Yesalavich, Kristina Peterson says stocks rose as the Fed. Res. maintained its pledge to keep ingterest rates low for an extended period, a signal to many that the spigot of easy money will continue through the end of the year.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Fin Times p28 "Decision on rates helps to keep rally from losing steam" by Masa Serdarevic says a downgrade of Spain's sovereign debt briefly shook US stock markets yesterday bu filed to break the session's rally, as investors welcomed the Fed. Res's decision to keep the benchmark interest rate near zero.
USA p4B "Sizzling ernings season boosts stocks" by Bloomberg says US stocks rose Wed, rebounding from the biggest drop since Fed, as high than estimated earnings and the Fed. Res's pledge to keep interest rates at a record low overshadowed a downgrade of Spain's debt rating.
NYT pB13 "Buoyed by the Fed's Stance, Investors Push Sahres Higher" by Christine Hauser says stocks pushed past concerns over a widening European debt crisis and closed higher on Wall st. on Wed, after the Fed. Res. reassured investors that the economy was iproving and left itnerst rates untouched as predicted.
Wednesday's Dow Jones Industrial Average closing numerator was 1,461.50 up 7.05 from Tuesday's closing numerator of 1,454.45. 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 7.05 for Wednesday by the divisor you get the increase in Wednesday's Dow of 53.28. 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 $48.72 up 0.24 from Tuesday's Dow Jones Industrial Average average closing price of $48.48. The median closing price of Wednesday's Dow Jones Industrial Average was 44.77 up 0.67 from Tuesday's median closing price of $44.10. The lowest volume was MMM $88.24 +0.27 0.31% 5,728,952 NYSE and the highest volume again was Bank of America BAC $17.78 +0.31 1.77% 194,943,435 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 $720 ($146,160 -$145,440).
Market Watch 4/2810 5:08 p.m. by Kate Gibson says US stocks on Wednesday made a moderate rebound after stronger earnings and a Federal Reserve commitment to keep rates low offset investor unease over Southern Europe's sovereign debt problems.
The Dow Jones Industrial Average (INDU 11,045, +53.50, +0.49%) ended up 53.28 points, or 0.5%, to 11,045.27, led by a 2.5% rise in J.P. Morgan Chase Co. (JPM 43.61, +0.15, +0.35%) shares and a 1.8% gain in Bank of America Corp. (BAC 17.82, +0.04, +0.23%) . Financial stocks also led the S&P 500 higher, getting a lift from some earnings reports, a stalled debate on a bank-reform bill and the Fed's pledge to keep rates low. The S&P 500 SPX 1,191, +7.65, +0.65%) ended up 7.65 points, or 0.7%, to 1,191.36, boosted by more than 1% gain in financials and energy sectors. The Nasdaq Composite (COMP 2,472, +0.26, +0.01%) rose 0.26 point, or 0.01%, to 2,471.73. The major stock indexes, which had dropped sharply in the prior session and wavered in early Wednesday trading, solidified their gains after the Fed reiterated economic conditions warrant leaving rates low for what is likely to be an extended period. The Fed has left rates at an historic low of 0% to 0.25% as it awaits more signs the economy is firmly on the mend. Stocks faltered briefly after Standard & Poor's cut Spain's rating by one notch to AA, the latest blow to Europe's credit outlook. The major indexes had declined the most in nearly three months in the prior session after Standard & Poor's cut its rating on Greece's debt to junk status, and lowered Portugal's debt rating by two notches Read Market Snapshot on Tuesday's stock market. Corporate results on Wednesday included better-than-anticipated reports from raw-materials bellwether Dow Chemical Co. (DOW 31.88, +0.05, +0.16%) , investment manager Invesco Ltd. (IVZ 21.61, +0.88, +4.25%) and media company Comcast Corp. (CMCS.A 18.77, +0.35, +1.90%) (CMCS.K 17.82, +0.30, +1.71%) . Dow Chemical shares added 5.9%. For every stock on the decline more than two were on the rise on the New York Stock Exchange, where nearly 1.4 billion shares traded hands. Gold futures extended their winning streak to a fourth-straight day, adding $9.60, or 0.8%, to settle at $1,171.80 an ounce on Comex. The euro turned lower after the Spain rating cut. In addition to other worries, some analysts expressed concern that economic problems in Europe could dent sales for global companies doing business overseas. See currencies on dollar, euro. Greece has yet to tap into almost $60 billion in rescue funds from the European Union and the International Monetary Fund, with worries mounting that the country could default on more than $11 billion in debt payments due in the middle of next month.
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $25.91 -0.04 0.15% 34,146,407 NYSE: USA pB "Toktumi's Line2 has an answer for yor AT&T iPhone hang-ups" by Edward Baig says a 99 cent iPhone app called Line2 is it allow you to receive calls over the Internet through Wi-Fi so you can overcome poor AT&T reception.
NYT pB8 "Dead Zone doldrums Test Skills of iPhone Csutomers" by Paul Boutin says the iPhone's cellular coverage, provided exclusively by AT&t wireless, is spotty and in some parts of NY and San Fran it is impossible to connect.
Alcoa AA $13.57 +0.13 0.97% 32,566,951 NYSE: No mentions found.
American Express AXP $46.08 +0.29 0.63% 9,533,263 NYSE: WSJ pC6 "A Rare Spotting: ABS Normalcy" by Anrusha Shrivastava says American Express on Wed sold its first credit card loan bond since the gov withdrew support for the asset backed securities market, drawing enough interest to increase the issue size even as it offered investors less than it did a few months ago. The deal for $911.8 mil, up from an original $804.5 mil, came in two parts with different interest rates.
Bank of America BAC $17.78 +0.31 1.77% 194,943,435 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin, NYT pB13 "Bank of americ names a New Chairman" by Reuers say Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Boeing BA $72.37 -0.11 0.15% 5,699,102 NYSE: No mentions found.
CAT $68.97 0.44 0.64% 8,232,183 NYSE: No mentions found.
Chevron CVX $80.62 +0.39 0.49% 12,112,465 NYSE: No mentions found.
CSCO $27.038 +0.028 0.1% 54,465,582 NASDAQ-GS: No mentions found.
Coke KO $53.36 +0.49 0.93% 12,373,984 NYSE: No mentions found.
Disney DIS $36.29 -0.03 0.08% 10,930,846 NYSE: No mentions found.
DuPont DD $39.46 +0.06 0.15% 12,069,382 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin says Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
Exxon XOM $69.19 +0.92 1.35% 33,227,931 NYSE: WSJ pB1 "Primed at the Pump: Exxon Is Poised to Rally" by Liam Denning says Exxon will likely bat the consensus earnings forecast of $1.41 compared with 92 cents a share int he same period a year ago when it reports earnings today.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
GE $18.95 +0.25 1.34% 84,943,035 NYSE: No mentions found.
Hewlett-Packard HPQ $53.28 +0.03 0.06% 15,992,238 NYSE: WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, NYT pB1 "HP to Pay $1.2 bil For Palm" by Ashlee Vance, Jenna Wortham USA p1B "HP play for Palm puts it in smartphone market' by Jon Swartz, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Home Depot HD $35.19 -0.10 0.28% 19,375,010 NYSE: No mentions found.
Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS: No mentions found.
IBM $130.1 +1.28 0.99% 7,122,626 NYSE: No mentions found.
JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE: No mentions found.
Johnson & Johnson JNJ $64.62 +0.34 0.53% 12,442,576 NYSE: No mentions found.
KFT $29.75 +0.25 0.85% 10,250,303 NYSE: No mentions found.
McDonald's MCD $70.34 -0.19 0.27% 7,588,984 NYSE: No mentions found.
MRK $34.56 +0.08 0.23% 16,878,684 NYSE: No mentions found.
Microsoft MSFT $30.91 +0.065 0.21% 64,452,383 NASDAQ-GS: WSJ pB4 "Gates Invests In Creating New Drugs" by Robert Guth says Microsoft founder Bill Gates invested $10 mil into Schrodinger in a quest to use computers to revolutionize drug development.
Fin Times p16 "Microsoft succeeds in claim over Android property rights" by Richard Waters, WSJ pB4 "HTC Secures Access to Microsoft Patents", USA pB1 say HTC signed a licensing deal to use MSFT's patents in handsets powered by Google's Android software.
WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Pfizer PFE $16.53 +0.07 0.43% 60,511,845 NYSE: No mentions found.
Procter & Gamble PG $63.17 +0.06 0.1% 13,082,158 NYSE: No mentions found.
MMM $88.24 +0.27 0.31% 5,728,952 NYSE: No mentions found.
Travelers TRV $51.12 +0.59 1.17% 6,404,956 NYSE: No mentions found.
United Tech UTX $74.66 +0.34 0.46% 6,122,576 NYSE: No mentions found.
Verizon VZ $29.12 +0.37 1.29% 26,599,529 Dual Listed: No mentions found.
WalMart WMT $53.61 -0.43 0.8% 14,897,349 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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
4/29/10 Thurs. a.m. Hewlett-Packard to Buy Palm
www.DowJonesMonitor.com
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 405. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
A read of Thursday'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 Tuesday's stock prices and related data.
Dow: The Dow Jones Industrial Average closed Wednesday at 11045.27 up 53.28 or 0.48% from Tuesday's close of 10991.91. For the year the Dow is up 5.92%. Of the 30 Dow Companies: gained and declined. The biggest gainer dollar-wise was IBM $130.1 +1.28 0.99% 7,122,626 NYSE and percentage-wise was JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE. The biggest decliner dollar-wise was WalMart WMT $53.61 -0.43 0.8% 14,897,349 NYSE and percentage-wise was Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS.
WSJ pC1 "Fed's Pledge Pushes Dow Up by 53.28" by Donna Yesalavich, Kristina Peterson says stocks rose as the Fed. Res. maintained its pledge to keep ingterest rates low for an extended period, a signal to many that the spigot of easy money will continue through the end of the year.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Fin Times p28 "Decision on rates helps to keep rally from losing steam" by Masa Serdarevic says a downgrade of Spain's sovereign debt briefly shook US stock markets yesterday bu filed to break the session's rally, as investors welcomed the Fed. Res's decision to keep the benchmark interest rate near zero.
USA p4B "Sizzling ernings season boosts stocks" by Bloomberg says US stocks rose Wed, rebounding from the biggest drop since Fed, as high than estimated earnings and the Fed. Res's pledge to keep interest rates at a record low overshadowed a downgrade of Spain's debt rating.
NYT pB13 "Buoyed by the Fed's Stance, Investors Push Sahres Higher" by Christine Hauser says stocks pushed past concerns over a widening European debt crisis and closed higher on Wall st. on Wed, after the Fed. Res. reassured investors that the economy was iproving and left itnerst rates untouched as predicted.
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 16.59 up from Wednesday's 16.51 (year ago it was 32.33) the P/E estimate is 14.10 unchanged from Wednesday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.47 dpwm from Wednesday's 2.48 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Wednesday's Dow Jones Industrial Average closing numerator was 1,461.50 up 7.05 from Tuesday's closing numerator of 1,454.45. 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 7.05 for Wednesday by the divisor you get the increase in Wednesday's Dow of 53.28. 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 $48.72 up 0.24 from Tuesday's Dow Jones Industrial Average average closing price of $48.48. The median closing price of Wednesday's Dow Jones Industrial Average was 44.77 up 0.67 from Tuesday's median closing price of $44.10. The lowest volume was MMM $88.24 +0.27 0.31% 5,728,952 NYSE and the highest volume again was Bank of America BAC $17.78 +0.31 1.77% 194,943,435 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 $720 ($146,160 -$145,440).
Market Watch 4/2810 5:08 p.m. by Kate Gibson says US stocks on Wednesday made a moderate rebound after stronger earnings and a Federal Reserve commitment to keep rates low offset investor unease over Southern Europe's sovereign debt problems.
The Dow Jones Industrial Average (INDU 11,045, +53.50, +0.49%) ended up 53.28 points, or 0.5%, to 11,045.27, led by a 2.5% rise in J.P. Morgan Chase Co. (JPM 43.61, +0.15, +0.35%) shares and a 1.8% gain in Bank of America Corp. (BAC 17.82, +0.04, +0.23%) . Financial stocks also led the S&P 500 higher, getting a lift from some earnings reports, a stalled debate on a bank-reform bill and the Fed's pledge to keep rates low. The S&P 500 SPX 1,191, +7.65, +0.65%) ended up 7.65 points, or 0.7%, to 1,191.36, boosted by more than 1% gain in financials and energy sectors. The Nasdaq Composite (COMP 2,472, +0.26, +0.01%) rose 0.26 point, or 0.01%, to 2,471.73. The major stock indexes, which had dropped sharply in the prior session and wavered in early Wednesday trading, solidified their gains after the Fed reiterated economic conditions warrant leaving rates low for what is likely to be an extended period. The Fed has left rates at an historic low of 0% to 0.25% as it awaits more signs the economy is firmly on the mend. Stocks faltered briefly after Standard & Poor's cut Spain's rating by one notch to AA, the latest blow to Europe's credit outlook. The major indexes had declined the most in nearly three months in the prior session after Standard & Poor's cut its rating on Greece's debt to junk status, and lowered Portugal's debt rating by two notches Read Market Snapshot on Tuesday's stock market. Corporate results on Wednesday included better-than-anticipated reports from raw-materials bellwether Dow Chemical Co. (DOW 31.88, +0.05, +0.16%) , investment manager Invesco Ltd. (IVZ 21.61, +0.88, +4.25%) and media company Comcast Corp. (CMCS.A 18.77, +0.35, +1.90%) (CMCS.K 17.82, +0.30, +1.71%) . Dow Chemical shares added 5.9%. For every stock on the decline more than two were on the rise on the New York Stock Exchange, where nearly 1.4 billion shares traded hands. Gold futures extended their winning streak to a fourth-straight day, adding $9.60, or 0.8%, to settle at $1,171.80 an ounce on Comex. The euro turned lower after the Spain rating cut. In addition to other worries, some analysts expressed concern that economic problems in Europe could dent sales for global companies doing business overseas. See currencies on dollar, euro. Greece has yet to tap into almost $60 billion in rescue funds from the European Union and the International Monetary Fund, with worries mounting that the country could default on more than $11 billion in debt payments due in the middle of next month.
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $25.91 -0.04 0.15% 34,146,407 NYSE: USA pB "Toktumi's Line2 has an answer for yor AT&T iPhone hang-ups" by Edward Baig says a 99 cent iPhone app called Line2 is it allow you to receive calls over the Internet through Wi-Fi so you can overcome poor AT&T reception.
NYT pB8 "Dead Zone doldrums Test Skills of iPhone Csutomers" by Paul Boutin says the iPhone's cellular coverage, provided exclusively by AT&t wireless, is spotty and in some parts of NY and San Fran it is impossible to connect.
Alcoa AA $13.57 +0.13 0.97% 32,566,951 NYSE: No mentions found.
American Express AXP $46.08 +0.29 0.63% 9,533,263 NYSE: WSJ pC6 "A Rare Spotting: ABS Normalcy" by Anrusha Shrivastava says American Express on Wed sold its first credit card loan bond since the gov withdrew support for the asset backed securities market, drawing enough interest to increase the issue size even as it offered investors less than it did a few months ago. The deal for $911.8 mil, up from an original $804.5 mil, came in two parts with different interest rates.
Bank of America BAC $17.78 +0.31 1.77% 194,943,435 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin, NYT pB13 "Bank of americ names a New Chairman" by Reuers say Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Boeing BA $72.37 -0.11 0.15% 5,699,102 NYSE: No mentions found.
CAT $68.97 0.44 0.64% 8,232,183 NYSE: No mentions found.
Chevron CVX $80.62 +0.39 0.49% 12,112,465 NYSE: No mentions found.
CSCO $27.038 +0.028 0.1% 54,465,582 NASDAQ-GS: No mentions found.
Coke KO $53.36 +0.49 0.93% 12,373,984 NYSE: No mentions found.
Disney DIS $36.29 -0.03 0.08% 10,930,846 NYSE: No mentions found.
DuPont DD $39.46 +0.06 0.15% 12,069,382 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin says Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
Exxon XOM $69.19 +0.92 1.35% 33,227,931 NYSE: WSJ pB1 "Primed at the Pump: Exxon Is Poised to Rally" by Liam Denning says Exxon will likely bat the consensus earnings forecast of $1.41 compared with 92 cents a share int he same period a year ago when it reports earnings today.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
GE $18.95 +0.25 1.34% 84,943,035 NYSE: No mentions found.
Hewlett-Packard HPQ $53.28 +0.03 0.06% 15,992,238 NYSE: WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, NYT pB1 "HP to Pay $1.2 bil For Palm" by Ashlee Vance, Jenna Wortham USA p1B "HP play for Palm puts it in smartphone market' by Jon Swartz, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Home Depot HD $35.19 -0.10 0.28% 19,375,010 NYSE: No mentions found.
Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS: No mentions found.
IBM $130.1 +1.28 0.99% 7,122,626 NYSE: No mentions found.
JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE: No mentions found.
Johnson & Johnson JNJ $64.62 +0.34 0.53% 12,442,576 NYSE: No mentions found.
KFT $29.75 +0.25 0.85% 10,250,303 NYSE: No mentions found.
McDonald's MCD $70.34 -0.19 0.27% 7,588,984 NYSE: No mentions found.
MRK $34.56 +0.08 0.23% 16,878,684 NYSE: No mentions found.
Microsoft MSFT $30.91 +0.065 0.21% 64,452,383 NASDAQ-GS: WSJ pB4 "Gates Invests In Creating New Drugs" by Robert Guth says Microsoft founder Bill Gates invested $10 mil into Schrodinger in a quest to use computers to revolutionize drug development.
Fin Times p16 "Microsoft succeeds in claim over Android property rights" by Richard Waters, WSJ pB4 "HTC Secures Access to Microsoft Patents", USA pB1 say HTC signed a licensing deal to use MSFT's patents in handsets powered by Google's Android software.
WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Pfizer PFE $16.53 +0.07 0.43% 60,511,845 NYSE: No mentions found.
Procter & Gamble PG $63.17 +0.06 0.1% 13,082,158 NYSE: No mentions found.
MMM $88.24 +0.27 0.31% 5,728,952 NYSE: No mentions found.
Travelers TRV $51.12 +0.59 1.17% 6,404,956 NYSE: No mentions found.
United Tech UTX $74.66 +0.34 0.46% 6,122,576 NYSE: No mentions found.
Verizon VZ $29.12 +0.37 1.29% 26,599,529 Dual Listed: No mentions found.
WalMart WMT $53.61 -0.43 0.8% 14,897,349 NYSE: No mentions found.
*************************
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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
#######################
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Post No. 417. 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 5/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
A read of Thursday'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 Wednesday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Wednesday at 10,868.12 down 58.65 or 0.542% from Tuesday's close of 10,926.77. For the year the Dow is up Of the 30 Dow Companies: 9 gained and 21declined. The biggest gainer dollar-wise and percentage wise was WalMart WMT $54.77 +0.75 1.39% 16,609,823 NYSE. The biggest decliner dollar-wise was Boeing BA $71 -1.79 2.46% 5,509,124 NYSE and percentage-wise was Disney DIS $35.34 -1.25 3.42% 17,964,631 NYSE.
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 16.09 down from Wednesday's open of 16.09 (year ago it was 36.56) the P/E estimate is 13.95 unchanged from Wednesday's 13.95 (year ago it was 22.77) and the current dividend yield is 2.50 up from Wednesday's 2.50 (it was 3.67 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Wednesday's Dow Jones Industrial Average closing numerator was 1,438.06 down 7.76 from Tuesday's closing numerator of 1,445.82. 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 decrease of 7.76 for Wednesday by the divisor (0.132319125) you get the decrease in Wednesday's Dow of 58.65. 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 $47.94 down 0.25 from Tuesday's Dow Jones Industrial Average average closing price of $48.19. The median closing price of Wednesday's Dow Jones Industrial Average was 43.53 down 0.64 from Tuesday's median closing price of $44.17. The lowest volume was Travelers TRV $50.62 +0.62 1.24% 4,062,744 NYSE and the highest volume again was Bank of America BAC $17.53- 0.03 0.17% 194,968,097 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 lost $750 ($144,570 - $143,820).
Market Watch Wed. 5/5/10 5:06 p.m. by Kate Gibson says US stocks fell for a second day Wednesday as worries that Europe's debt trouble is escalating overshadowed economic reports showing growth in the services sector and additional hiring by private firms. After a triple-digit slide and then a brief visit to positive territory, the Dow Jones Industrial Average (INDU 10,867, -59.86, -0.55%) closed down 60 points, or 0.6%, to 10,866.83. Stocks reacted to heightened concerns over Europe as violence erupted in Greece and a possible downgrade loomed over Portugal's debt. Twenty of the index's 30 components posted losses, led by consumer firm Walt Disney Co. (DIS 35.43, +0.09, +0.26%) and credit-card company American Express Co. (AXP 44.40, -0.03, -0.07%). The Nasdaq Composite Index (COMP 2,402, -21.96, -0.91%) ended 22 points, or 0.9%, lower 2,402.29. The S&P 500 Index (SPX 1,166, -7.73, -0.66%) closed down 7.73 points, or 0.7%, to 1,165.87, with energy and industrials shares down the most and consumer staples leading gainers among its 10 industry groups. For every stock on the rise, roughly four fell on the New York Stock Exchange, where about 1.5 billion shares had traded hands. Composite volume topped 6.9 billion. Among the laggards, shares of Williams Cos. (WMB 22.34, +0.12, +0.54%) fell nearly 5% after the energy company tallied a quarterly loss. But shares of Intercontinental Exchange (ICE 119.07, +0.09, +0.08%) and XL Capital (XL 17.90, -0.09, -0.49%) rallied more than 4% after both financial companies reported earnings that topped expectations. The earnings estimate for the S&P 500 for 2010 has gone from $75 a share at the beginning of the year to $81. Earnings reports slated to arrive after the close included one from JDS Uniphase Corp. (JDSU 12.53, -1.17, -8.54%) . Transocean Ltd. (RIG 73.55, +0.79, +1.09%) , the owner of the rig that blew up ahead of the oil spill in the Gulf of Mexico, was also scheduled to report first-quarter results. Down significantly since the spill, shares of Transocean on Wednesday ended up less than 0.1%. On Tuesday, U.S. equities took their worst hit in three months, battered by investor unease with Greece's prospects and the risk of a broader European financial crisis. Crude prices tumble as energy stocks get rocked by the commodities market, the oil spill in the Gulf of Mexico and bearish weekly inventories data. MarketWatch's Steve Gelsi reports. That uncertainty propelled Europe's shared currency to 13-month lows against the U.S. dollar, with the euro (CUR_EURUSD 1.2815, -0.0002, -0.0156%) falling more than 1% at $1.2827 from $1.3011 in late North American trade on Tuesday. During periods over the past few months, a strengthening dollar has generally translated into lower commodities and equities.
In Athens, three people were reported dead after protests against the government's austerity measures turned violent amid a nationwide strike. Wednesday economic data included ADP's report that private employers had added 32,000 jobs in April, while revisions showed an unexpected rise during the prior month. The data from the payrolls processor come two days ahead of the U.S. government's monthly jobs report, with consensus estimates now calling for an increase of 189,000 in the monthly count coming Friday. Separately, the Institute for Supply Management reported that growth in the U.S. service sector held firm at 55.4% in April, with readings over 50% indicating a majority of firms believe business is getter better as opposed to worse
AT&T T $25.77 -0.13 0.5% 33,486,397 NYSE:
Alcoa AA $12.46 -0.12 0.95% 41,838,424 NYSE:
American Express AXP $44.43 -1.43 3.12% 15,036,038 NYSE:
Bank of America BAC $17.53- 0.03 0.17% 194,968,097 NYSE:
Boeing BA $71 -1.79 2.46% 5,509,124 NYSE:
Caterpillar CAT $65.96 -0.74 1.11% 11,422,626 NYSE:
Chevron CVX $80.19 -0.57 0.71% 13,028,902 NYSE:
CSCO $26.55- 0.0075 0.03% 49,873,950 NASDAQ-GS:
Coke KO $53.66 +0.48 0.9% 11,835,188 NYSE:
Disney DIS $35.34 -1.25 3.42% 17,964,631 NYSE:
DuPont DD $37.87 -0.73 1.89% 9,387,829 NYSE:
Exxon XOM $66.17 -0.30 0.45% 30,261,125 NYSE:
GE $18.1 -0.48 2.58% 106,985,993 NYSE:
Hewlett-Packard HPQ $50.93 +0.29 0.57% 14,031,539 NYSE:
Home Depot HD $35.24 -0.18 0.51% 24,373,753 NYSE:
Intel INTC $22.1725 -0.23 1.03% 96,823,629 NASDAQ-GS:
IBM $127.46 -0.66 0.52% 6,072,714 NYSE:
JPMorgan JPM $42.63 +0.16 0.38% 43,057,232 NYSE:
Johnson & Johnson JNJ $65.14 +0.44 0.68% 13,143,647 NYSE:
KFT $29.75 +0.18 0.61% 14,565,377 NYSE:
McDonald's MCD $70.66 +0.02 0.03% 9,578,086 NYSE:
MRK $35.59 -0.22 0.61% 21,460,364 NYSE:
Microsoft MSFT $29.85 -0.28 0.93% 66,828,462 NASDAQ-GS:
Pfizer PFE $17.18 -0.08 0.46% 99,297,359 NYSE:
Procter & Gamble PG $62.16 +0.45 0.73% 11,611,620 NYSE:
MMM $86.59 -1.09 1.24% 4,879,914 NYSE:
Travelers TRV $50.62 +0.62 1.24% 4,062,744 NYSE:
United Tech UTX $73.59 -0.57 0.77% 6,179,354 NYSE:
Verizon VZ $28.68 -0.07 0.24% 16,273,540 Dual Listed:
WalMart WMT $54.77 +0.75 1.39% 16,609,823 NYSE:
*************************
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 5/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $319 [5]
2. Microsoft MSFT 268 [9]
3. WalMart WMT 201 [4]
4. GE 201 [10.5]
5. Procter & Gamble PG 180 [3]
6. BAC 179 [10]
7. Johnson & Johnson JNJ 177 [3]
8. JPMorgan Chase 169 [4]
9. IBM 166 [1]
10. Chevron CVX 163 [2]
11. AT&T 154 [6]
12. Cisco CSCO 154 [6]
13. Pfizer PFE 135 [8]
14. Intel INTC 126 [5.5]
15. Coke KO 123 [2]
16. Hewlett-Packard HPQ 122 [2]
17. Merck MRK 109 [3]
18. Verizon VZ 82 [3]
19. McDonald's MCD 76 [1]
20. Disney DIS 71 [2]
21. United Technologies UTX 70 [1]
22. 3M MMM 63 [.5]
23. Home Depot 60 [1.5]
24. Boeing BA 55 [1]
25. American Express AXP 55 [1]
26. Kraft KFT 51 [1.5]
27. Caterpillar CAT 43 [.5]
28. DuPont DD 36 [1]
29. Travelers 25 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 405. 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 4/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
A read of Thursday'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 Tuesday's stock prices and related data.
Dow: The Dow Jones Industrial Average closed Wednesday at 11045.27 up 53.28 or 0.48% from Tuesday's close of 10991.91. For the year the Dow is up 5.92%. Of the 30 Dow Companies: gained and declined. The biggest gainer dollar-wise was IBM $130.1 +1.28 0.99% 7,122,626 NYSE and percentage-wise was JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE. The biggest decliner dollar-wise was WalMart WMT $53.61 -0.43 0.8% 14,897,349 NYSE and percentage-wise was Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS.
WSJ pC1 "Fed's Pledge Pushes Dow Up by 53.28" by Donna Yesalavich, Kristina Peterson says stocks rose as the Fed. Res. maintained its pledge to keep ingterest rates low for an extended period, a signal to many that the spigot of easy money will continue through the end of the year.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Fin Times p28 "Decision on rates helps to keep rally from losing steam" by Masa Serdarevic says a downgrade of Spain's sovereign debt briefly shook US stock markets yesterday bu filed to break the session's rally, as investors welcomed the Fed. Res's decision to keep the benchmark interest rate near zero.
USA p4B "Sizzling ernings season boosts stocks" by Bloomberg says US stocks rose Wed, rebounding from the biggest drop since Fed, as high than estimated earnings and the Fed. Res's pledge to keep interest rates at a record low overshadowed a downgrade of Spain's debt rating.
NYT pB13 "Buoyed by the Fed's Stance, Investors Push Sahres Higher" by Christine Hauser says stocks pushed past concerns over a widening European debt crisis and closed higher on Wall st. on Wed, after the Fed. Res. reassured investors that the economy was iproving and left itnerst rates untouched as predicted.
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 16.59 up from Wednesday's 16.51 (year ago it was 32.33) the P/E estimate is 14.10 unchanged from Wednesday's 14.10 (year ago it was 22.30) and the current dividend yield is 2.47 dpwm from Wednesday's 2.48 (it was 3.78 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Wednesday's Dow Jones Industrial Average closing numerator was 1,461.50 up 7.05 from Tuesday's closing numerator of 1,454.45. 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 7.05 for Wednesday by the divisor you get the increase in Wednesday's Dow of 53.28. 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 $48.72 up 0.24 from Tuesday's Dow Jones Industrial Average average closing price of $48.48. The median closing price of Wednesday's Dow Jones Industrial Average was 44.77 up 0.67 from Tuesday's median closing price of $44.10. The lowest volume was MMM $88.24 +0.27 0.31% 5,728,952 NYSE and the highest volume again was Bank of America BAC $17.78 +0.31 1.77% 194,943,435 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 $720 ($146,160 -$145,440).
Market Watch 4/2810 5:08 p.m. by Kate Gibson says US stocks on Wednesday made a moderate rebound after stronger earnings and a Federal Reserve commitment to keep rates low offset investor unease over Southern Europe's sovereign debt problems.
The Dow Jones Industrial Average (INDU 11,045, +53.50, +0.49%) ended up 53.28 points, or 0.5%, to 11,045.27, led by a 2.5% rise in J.P. Morgan Chase Co. (JPM 43.61, +0.15, +0.35%) shares and a 1.8% gain in Bank of America Corp. (BAC 17.82, +0.04, +0.23%) . Financial stocks also led the S&P 500 higher, getting a lift from some earnings reports, a stalled debate on a bank-reform bill and the Fed's pledge to keep rates low. The S&P 500 SPX 1,191, +7.65, +0.65%) ended up 7.65 points, or 0.7%, to 1,191.36, boosted by more than 1% gain in financials and energy sectors. The Nasdaq Composite (COMP 2,472, +0.26, +0.01%) rose 0.26 point, or 0.01%, to 2,471.73. The major stock indexes, which had dropped sharply in the prior session and wavered in early Wednesday trading, solidified their gains after the Fed reiterated economic conditions warrant leaving rates low for what is likely to be an extended period. The Fed has left rates at an historic low of 0% to 0.25% as it awaits more signs the economy is firmly on the mend. Stocks faltered briefly after Standard & Poor's cut Spain's rating by one notch to AA, the latest blow to Europe's credit outlook. The major indexes had declined the most in nearly three months in the prior session after Standard & Poor's cut its rating on Greece's debt to junk status, and lowered Portugal's debt rating by two notches Read Market Snapshot on Tuesday's stock market. Corporate results on Wednesday included better-than-anticipated reports from raw-materials bellwether Dow Chemical Co. (DOW 31.88, +0.05, +0.16%) , investment manager Invesco Ltd. (IVZ 21.61, +0.88, +4.25%) and media company Comcast Corp. (CMCS.A 18.77, +0.35, +1.90%) (CMCS.K 17.82, +0.30, +1.71%) . Dow Chemical shares added 5.9%. For every stock on the decline more than two were on the rise on the New York Stock Exchange, where nearly 1.4 billion shares traded hands. Gold futures extended their winning streak to a fourth-straight day, adding $9.60, or 0.8%, to settle at $1,171.80 an ounce on Comex. The euro turned lower after the Spain rating cut. In addition to other worries, some analysts expressed concern that economic problems in Europe could dent sales for global companies doing business overseas. See currencies on dollar, euro. Greece has yet to tap into almost $60 billion in rescue funds from the European Union and the International Monetary Fund, with worries mounting that the country could default on more than $11 billion in debt payments due in the middle of next month.
Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $25.91 -0.04 0.15% 34,146,407 NYSE: USA pB "Toktumi's Line2 has an answer for yor AT&T iPhone hang-ups" by Edward Baig says a 99 cent iPhone app called Line2 is it allow you to receive calls over the Internet through Wi-Fi so you can overcome poor AT&T reception.
NYT pB8 "Dead Zone doldrums Test Skills of iPhone Csutomers" by Paul Boutin says the iPhone's cellular coverage, provided exclusively by AT&t wireless, is spotty and in some parts of NY and San Fran it is impossible to connect.
Alcoa AA $13.57 +0.13 0.97% 32,566,951 NYSE: No mentions found.
American Express AXP $46.08 +0.29 0.63% 9,533,263 NYSE: WSJ pC6 "A Rare Spotting: ABS Normalcy" by Anrusha Shrivastava says American Express on Wed sold its first credit card loan bond since the gov withdrew support for the asset backed securities market, drawing enough interest to increase the issue size even as it offered investors less than it did a few months ago. The deal for $911.8 mil, up from an original $804.5 mil, came in two parts with different interest rates.
Bank of America BAC $17.78 +0.31 1.77% 194,943,435 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin, NYT pB13 "Bank of americ names a New Chairman" by Reuers say Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
Boeing BA $72.37 -0.11 0.15% 5,699,102 NYSE: No mentions found.
CAT $68.97 0.44 0.64% 8,232,183 NYSE: No mentions found.
Chevron CVX $80.62 +0.39 0.49% 12,112,465 NYSE: No mentions found.
CSCO $27.038 +0.028 0.1% 54,465,582 NASDAQ-GS: No mentions found.
Coke KO $53.36 +0.49 0.93% 12,373,984 NYSE: No mentions found.
Disney DIS $36.29 -0.03 0.08% 10,930,846 NYSE: No mentions found.
DuPont DD $39.46 +0.06 0.15% 12,069,382 NYSE: WSJ pB "BofA's New Chairman Is Ex-DuPont Chief" by Dan Fitzpatrick, Joann Lublin says Bank of America chose as chairman former DD CEO Charles O. Hooliday Jr. elevating a close adviser to the bank's new boss.
Exxon XOM $69.19 +0.92 1.35% 33,227,931 NYSE: WSJ pB1 "Primed at the Pump: Exxon Is Poised to Rally" by Liam Denning says Exxon will likely bat the consensus earnings forecast of $1.41 compared with 92 cents a share int he same period a year ago when it reports earnings today.
WSJ pC5 "JPMorgan, Exxon and BofA pace dow" by Donna Yesalavich says stocks rose, led by fin'l firms, including JPMorgan and Bank of America, and energy giant Exxon Mobil, as the Fed. Res. maintained its easy money stance, saying it would keep interest rates near zero for an extended period. JPMorgan is charted under Good News saying maor banks rose after the fin'l overhaul bill struggled int he Senate amid a plan to drop assessments for a fund to liquidate any failed banks.
GE $18.95 +0.25 1.34% 84,943,035 NYSE: No mentions found.
Hewlett-Packard HPQ $53.28 +0.03 0.06% 15,992,238 NYSE: WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, NYT pB1 "HP to Pay $1.2 bil For Palm" by Ashlee Vance, Jenna Wortham USA p1B "HP play for Palm puts it in smartphone market' by Jon Swartz, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Home Depot HD $35.19 -0.10 0.28% 19,375,010 NYSE: No mentions found.
Intel INTC $23.26 -0.09 0.39% 109,008,373 NASDAQ-GS: No mentions found.
IBM $130.1 +1.28 0.99% 7,122,626 NYSE: No mentions found.
JPMorgan JPM $43.46 +1.05 2.48% 48,544,047 NYSE: No mentions found.
Johnson & Johnson JNJ $64.62 +0.34 0.53% 12,442,576 NYSE: No mentions found.
KFT $29.75 +0.25 0.85% 10,250,303 NYSE: No mentions found.
McDonald's MCD $70.34 -0.19 0.27% 7,588,984 NYSE: No mentions found.
MRK $34.56 +0.08 0.23% 16,878,684 NYSE: No mentions found.
Microsoft MSFT $30.91 +0.065 0.21% 64,452,383 NASDAQ-GS: WSJ pB4 "Gates Invests In Creating New Drugs" by Robert Guth says Microsoft founder Bill Gates invested $10 mil into Schrodinger in a quest to use computers to revolutionize drug development.
Fin Times p16 "Microsoft succeeds in claim over Android property rights" by Richard Waters, WSJ pB4 "HTC Secures Access to Microsoft Patents", USA pB1 say HTC signed a licensing deal to use MSFT's patents in handsets powered by Google's Android software.
WSJ pB1 "H-P Gambles on Ailing Palm, WSJ pC12 "HP Hands Palm Holders A Decent Out" by Martin Peers, AJC pA14 "HP to acquire Palm for $1.4 bil in cash" say smart phone pioneer will be bought by HPQ for $5.70 per share plus some HPQ preferred. The deal is bad news for Micosoft as it dilutes HPQ's commitment to Windows Mobile.
Pfizer PFE $16.53 +0.07 0.43% 60,511,845 NYSE: No mentions found.
Procter & Gamble PG $63.17 +0.06 0.1% 13,082,158 NYSE: No mentions found.
MMM $88.24 +0.27 0.31% 5,728,952 NYSE: No mentions found.
Travelers TRV $51.12 +0.59 1.17% 6,404,956 NYSE: No mentions found.
United Tech UTX $74.66 +0.34 0.46% 6,122,576 NYSE: No mentions found.
Verizon VZ $29.12 +0.37 1.29% 26,599,529 Dual Listed: No mentions found.
WalMart WMT $53.61 -0.43 0.8% 14,897,349 NYSE: No mentions found.
*************************
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 4/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $317 [5]
2. Microsoft MSFT 257 [9]
3. WalMart WMT 212 [4]
4. GE 200 [10.5]
5. Procter & Gamble PG 184 [3]
6. Johnson & Johnson JNJ 180 [3]
7. BAC 179 [10]
8. JPMorgan Chase 178 [4]
9. IBM 167 [1]
10. AT&T 153 [6]
11. Chevron CVX 152 [2]
12. Cisco CSCO 149 [6]
13. Pfizer PFE 138 [8]
14. Coke KO 127 [2]
15. Hewlett-Packard HPQ 125 [2]
16. Intel INTC 123 [5.5]
17. Merck MRK 116 [3]
18. Verizon VZ 88 [3]
19. McDonald's MCD 72 [1]
20. United Technologies UTX 69 [1]
21. Disney DIS 67 [2]
22. 3M MMM 59 [.5]
23. Home Depot 55 [2]
24. Boeing BA 55 [1]
25. American Express AXP 49 [1]
26. Kraft KFT 45 [1.5]
27. Caterpillar CAT 39 [.5]
28. DuPont DD 34 [1]
29. Travelers 27 [.5]
30. Alcoa AA 15 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
#######################
The following is a template for Thurs. am Blog.
www.DowJonesMonitor.com
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 417. 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 5/1/10 and an update of the Dow 30 component's most recent SEC filings as of 4/1/10.
A read of Thursday'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 Wednesday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Wednesday at 10,868.12 down 58.65 or 0.542% from Tuesday's close of 10,926.77. For the year the Dow is up Of the 30 Dow Companies: 9 gained and 21declined. The biggest gainer dollar-wise and percentage wise was WalMart WMT $54.77 +0.75 1.39% 16,609,823 NYSE. The biggest decliner dollar-wise was Boeing BA $71 -1.79 2.46% 5,509,124 NYSE and percentage-wise was Disney DIS $35.34 -1.25 3.42% 17,964,631 NYSE.
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 16.09 down from Wednesday's open of 16.09 (year ago it was 36.56) the P/E estimate is 13.95 unchanged from Wednesday's 13.95 (year ago it was 22.77) and the current dividend yield is 2.50 up from Wednesday's 2.50 (it was 3.67 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007.
Wednesday's Dow Jones Industrial Average closing numerator was 1,438.06 down 7.76 from Tuesday's closing numerator of 1,445.82. 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 decrease of 7.76 for Wednesday by the divisor (0.132319125) you get the decrease in Wednesday's Dow of 58.65. 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 $47.94 down 0.25 from Tuesday's Dow Jones Industrial Average average closing price of $48.19. The median closing price of Wednesday's Dow Jones Industrial Average was 43.53 down 0.64 from Tuesday's median closing price of $44.17. The lowest volume was Travelers TRV $50.62 +0.62 1.24% 4,062,744 NYSE and the highest volume again was Bank of America BAC $17.53- 0.03 0.17% 194,968,097 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 lost $750 ($144,570 - $143,820).
Market Watch Wed. 5/5/10 5:06 p.m. by Kate Gibson says US stocks fell for a second day Wednesday as worries that Europe's debt trouble is escalating overshadowed economic reports showing growth in the services sector and additional hiring by private firms. After a triple-digit slide and then a brief visit to positive territory, the Dow Jones Industrial Average (INDU 10,867, -59.86, -0.55%) closed down 60 points, or 0.6%, to 10,866.83. Stocks reacted to heightened concerns over Europe as violence erupted in Greece and a possible downgrade loomed over Portugal's debt. Twenty of the index's 30 components posted losses, led by consumer firm Walt Disney Co. (DIS 35.43, +0.09, +0.26%) and credit-card company American Express Co. (AXP 44.40, -0.03, -0.07%). The Nasdaq Composite Index (COMP 2,402, -21.96, -0.91%) ended 22 points, or 0.9%, lower 2,402.29. The S&P 500 Index (SPX 1,166, -7.73, -0.66%) closed down 7.73 points, or 0.7%, to 1,165.87, with energy and industrials shares down the most and consumer staples leading gainers among its 10 industry groups. For every stock on the rise, roughly four fell on the New York Stock Exchange, where about 1.5 billion shares had traded hands. Composite volume topped 6.9 billion. Among the laggards, shares of Williams Cos. (WMB 22.34, +0.12, +0.54%) fell nearly 5% after the energy company tallied a quarterly loss. But shares of Intercontinental Exchange (ICE 119.07, +0.09, +0.08%) and XL Capital (XL 17.90, -0.09, -0.49%) rallied more than 4% after both financial companies reported earnings that topped expectations. The earnings estimate for the S&P 500 for 2010 has gone from $75 a share at the beginning of the year to $81. Earnings reports slated to arrive after the close included one from JDS Uniphase Corp. (JDSU 12.53, -1.17, -8.54%) . Transocean Ltd. (RIG 73.55, +0.79, +1.09%) , the owner of the rig that blew up ahead of the oil spill in the Gulf of Mexico, was also scheduled to report first-quarter results. Down significantly since the spill, shares of Transocean on Wednesday ended up less than 0.1%. On Tuesday, U.S. equities took their worst hit in three months, battered by investor unease with Greece's prospects and the risk of a broader European financial crisis. Crude prices tumble as energy stocks get rocked by the commodities market, the oil spill in the Gulf of Mexico and bearish weekly inventories data. MarketWatch's Steve Gelsi reports. That uncertainty propelled Europe's shared currency to 13-month lows against the U.S. dollar, with the euro (CUR_EURUSD 1.2815, -0.0002, -0.0156%) falling more than 1% at $1.2827 from $1.3011 in late North American trade on Tuesday. During periods over the past few months, a strengthening dollar has generally translated into lower commodities and equities.
In Athens, three people were reported dead after protests against the government's austerity measures turned violent amid a nationwide strike. Wednesday economic data included ADP's report that private employers had added 32,000 jobs in April, while revisions showed an unexpected rise during the prior month. The data from the payrolls processor come two days ahead of the U.S. government's monthly jobs report, with consensus estimates now calling for an increase of 189,000 in the monthly count coming Friday. Separately, the Institute for Supply Management reported that growth in the U.S. service sector held firm at 55.4% in April, with readings over 50% indicating a majority of firms believe business is getter better as opposed to worse
AT&T T $25.77 -0.13 0.5% 33,486,397 NYSE:
Alcoa AA $12.46 -0.12 0.95% 41,838,424 NYSE:
American Express AXP $44.43 -1.43 3.12% 15,036,038 NYSE:
Bank of America BAC $17.53- 0.03 0.17% 194,968,097 NYSE:
Boeing BA $71 -1.79 2.46% 5,509,124 NYSE:
Caterpillar CAT $65.96 -0.74 1.11% 11,422,626 NYSE:
Chevron CVX $80.19 -0.57 0.71% 13,028,902 NYSE:
CSCO $26.55- 0.0075 0.03% 49,873,950 NASDAQ-GS:
Coke KO $53.66 +0.48 0.9% 11,835,188 NYSE:
Disney DIS $35.34 -1.25 3.42% 17,964,631 NYSE:
DuPont DD $37.87 -0.73 1.89% 9,387,829 NYSE:
Exxon XOM $66.17 -0.30 0.45% 30,261,125 NYSE:
GE $18.1 -0.48 2.58% 106,985,993 NYSE:
Hewlett-Packard HPQ $50.93 +0.29 0.57% 14,031,539 NYSE:
Home Depot HD $35.24 -0.18 0.51% 24,373,753 NYSE:
Intel INTC $22.1725 -0.23 1.03% 96,823,629 NASDAQ-GS:
IBM $127.46 -0.66 0.52% 6,072,714 NYSE:
JPMorgan JPM $42.63 +0.16 0.38% 43,057,232 NYSE:
Johnson & Johnson JNJ $65.14 +0.44 0.68% 13,143,647 NYSE:
KFT $29.75 +0.18 0.61% 14,565,377 NYSE:
McDonald's MCD $70.66 +0.02 0.03% 9,578,086 NYSE:
MRK $35.59 -0.22 0.61% 21,460,364 NYSE:
Microsoft MSFT $29.85 -0.28 0.93% 66,828,462 NASDAQ-GS:
Pfizer PFE $17.18 -0.08 0.46% 99,297,359 NYSE:
Procter & Gamble PG $62.16 +0.45 0.73% 11,611,620 NYSE:
MMM $86.59 -1.09 1.24% 4,879,914 NYSE:
Travelers TRV $50.62 +0.62 1.24% 4,062,744 NYSE:
United Tech UTX $73.59 -0.57 0.77% 6,179,354 NYSE:
Verizon VZ $28.68 -0.07 0.24% 16,273,540 Dual Listed:
WalMart WMT $54.77 +0.75 1.39% 16,609,823 NYSE:
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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 5/1/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $319 [5]
2. Microsoft MSFT 268 [9]
3. WalMart WMT 201 [4]
4. GE 201 [10.5]
5. Procter & Gamble PG 180 [3]
6. BAC 179 [10]
7. Johnson & Johnson JNJ 177 [3]
8. JPMorgan Chase 169 [4]
9. IBM 166 [1]
10. Chevron CVX 163 [2]
11. AT&T 154 [6]
12. Cisco CSCO 154 [6]
13. Pfizer PFE 135 [8]
14. Intel INTC 126 [5.5]
15. Coke KO 123 [2]
16. Hewlett-Packard HPQ 122 [2]
17. Merck MRK 109 [3]
18. Verizon VZ 82 [3]
19. McDonald's MCD 76 [1]
20. Disney DIS 71 [2]
21. United Technologies UTX 70 [1]
22. 3M MMM 63 [.5]
23. Home Depot 60 [1.5]
24. Boeing BA 55 [1]
25. American Express AXP 55 [1]
26. Kraft KFT 51 [1.5]
27. Caterpillar CAT 43 [.5]
28. DuPont DD 36 [1]
29. Travelers 25 [.5]
30. Alcoa AA 14 [1]
Here are the latest SEC filings as of 4/1/10 market open 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: 3/26/10 8K re: its intent to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of the health care reform legislation.
Alcoa AA: 3/2/10 Add'l def. proxy materials
American Express AXP: 3/18/10 Add'l def. proxy materials
Bank of Am BAC: 3/17/10 Add'l def. proxy materials
Boeing BA: 3/31/10 8K re: charge off re: income tax charge of approximately $150 million as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act.
Caterpiller CAT: 3/24/10 8K re: charge off as a result of the Patient Protection and Affordable Care Act (H.R. 3590) signed into law on March 23, 2010
Chevron CVX: 3/31/10 Add'l def. proxy soliciting material
Cisco CSCO: 2/17/10 10Q Quarterly Report
Coke KO: 3/22/10 8K re: transactions related to CCE transaction.
Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws
DuPont DD: 3/19/10 Def. add'l proxy materials
ExxonMobil XOM: 3/29/10 8K re: its 2009 Financial and Operating Review
GE: 3/25/10 8K re: credit agreement with lenders led by JPMorgan Chase re: the transaction wherein GE and Comcast will form a joint venture which will consist of the NBCU businesses and Comcast’s cable networks.
Hewlett-Packard HPQ: 3/23/10 8K re: amendment of its Stock Incentive Plan
Home Depot HD: 4/7/10 Proxy Statement
3/25/10 10K Annual Report
Intel INTC: 3/22/10 8K re: John Thornton will not stand for reelection at the Company’s Annual Stockholders’ Meeting to be held on May 19, 2010
IBM: 3/25/10 Add'l def. proxy soliciting materials
JPMorganChase JPM: 3/31/10 Def. add'l proxy materials
Kraft KFT: 3/30/10 Definitive Add'l Proxy material
McDonalds MCD: 3/9/10 8K re: Press release "McDonald’s Global Comparable Sales Increased 4.8% in February"
Merck MRK: 3/11/10 8K re: amendment to the Call Option Agreement among Merck, Merck Sharp & Dohme and sanofi-aventis re: the option granted by Merck to sanofi-aventis to acquire 50% of Merck’s animal health business.
Microsoft MSFT: 1/28/10 10Q.
Pfizer PFE: 3/16/10 Add'l Proxy Materials
Procter & Gamble PG: 2/18/10 8K re: FD disclosures re: guidance given at an analyst conference
3M MMM: 3/26//10 8K re: one-time charge it expects to take in the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act signed by the President on March 23, 2010.
Travelers TRV: 3/17/10 Add'l Proxy Materials
United Technologies UTX: 3/24/10 Add'l proxy solicitation materials
2/26/10 Def. Proxy Statement
Verizon Communications Inc. VZ: 3/30/10 Proxy Statement
WalMart WMT: 3/30/10 10K Annual Report
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