4/14/10 Wed. am Intel's Rev. Jumps 44%

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Post No. 381. 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 Wednesday'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 Tuesday at 11,019.42 up 13.45 or 0.12% from Monday's close of 11,005.97. For the year the Dow Jones Industrial Average is up 5.67% Of the 30 Dow Companies: 17 gained and 13 declined. The biggest gainer dollar-wise was IBM $129.03 +0.67 0.52% 6,805,380 NYSE and percentage-wise was Home Depot HD $34.34 +0.86 2.57% 30,253,844 NYSE. The biggest decliner dollar-wise was Boeing BA $71.19 -0.73 1.02% 5,073,942 NYSE and percentage-wise was Alcoa AA $14.34 -0.23 1.58% 100,451,650 NYSE.

WSJ pC1 "Dow climbs 13.45 Points, Holding 11K" by Peter A. McKay says a continuing retreat in energy prices boosted consumer stocks, helping the market to a small gain. The Dow was led by a 2.6% gain in retail bellwether Home Depot. Dow gains were tempered by a 1.6% drop in Alcoa on the basis of its results late Mon, which marked the unofficial start of 1Qtr earnings season.

WSJ pC5 "Intel Rises by 1%, but Avon Falls" by Donna Yesalavich says stocks edged up for the 4th session in a row despie a disappointing 1qtr reprot from Aloca, as a drop in crude oil prices helped boost consumer discretionary firms such as Home Depot, while the tech sector gained on hopes fro strong earnings results from Intel.

Fin Times p26 "Investors shrug off Alcoa results as markets close ahead" by masa Serdarevic says US stocks closed higher yesterday as the market shurgged off Mon's disappointing results from Alcoa, as well as the worse than expected trade deficit figures which increased to $39.7 bil in Feb as imports grew faster than exports.

NYT pB10 "Trading Ends With a Modest Gain as Investors Digest Earnings Reports" by Javier Hernandez says Wall Street traders took in the first batch of quarterly earnings reports on Tues, but nobody seemed quite sure what to make of the numbers. Investors retreated at first as Alcoa, reported its 5th loss in 6 quarters sending stocks down sharply but as the session wore on, traders seemed to gain more confidence that certain sectors, like tech and manufacturing, were on the verge of robust results.

USA Today p4B "Dkow continues its trek above 11,000" by AP says the Dow extendedits push past 11,000 Tues after expectations grew that stronger corp. earnings would signal that a recovery is on track.

As of the open of the market Wednesday, 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 17.18 up from Tuesday's 17.16 (year ago it was 26.99) the P/E estimate is 14.00 unchanged from Tuesday's 14.00 (year ago it was 21.65) and the current dividend yield is 2.48 unchanged from Tuesday's 2.48 (it was 3.89 a year ago).

Tuesday's Dow Jones Industrial Average closing numerator was 1,458.08 up 1.78 from Monday's closing numerator of 1,456.30. 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 1.78 for Tuesday by the divisor you get the increase in Monday's Dow close of 13.45. A $1 change in the price of any DJIA stock = a 7.56 change in the average.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was $48.60 up 0.06 from Friday's Dow Jones Industrial Average closing price of $48.54. The median closing price of Tuesday's Dow Jones Industrial Average was 45.43 up 0.09 from Monday's median closing price of $454.93. The lowest volume was Travelers TRV $52.22 +0.20 0.38% 3,416,661 NYSE and the highest volume again was Bank of America BAC $18.67 +0.01 0.05% 112,748,691 NYSE.

If Tuesday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $188 ($145,808 - $145,620).

Market Watch 4/13/10 4:25 p.m. by Kate Gibson says U.S. stocks on Tuesday pushed tentatively higher for a fourth day of gains as investors looked past an earnings disappointment from Alcoa Inc. to results ahead in the technology and financial sectors. After a morning swoon, the Dow Jones Industrial Average (INDU 11,020, +13.53, +0.12%) climbed 13.45 points to 11,019.42, 11,033.25, with 15 of its 30 components finishing ahead. "While Alcoa could put some weight on the basic-material stocks, the more important earnings" are still to come, said Marc Pado, U.S. market strategist at Cantor Fitzgerald, who pointed to upcoming reports from Intel Corp. (INTC 23.58, +0.81, +3.56%) and Bank of America Corp. (BAC 18.70, +0.03, +0.16%)
Intel's inventory levels will be among the data points checked, with the results likely to "set the tone for the rest of the technology sector," added Ali. Among the blue-chip gainers, Intel reports results after Tuesday's close, kicking off the earnings season for the technology sector. Railroad company CSX Corp. (CSX 53.89, +0.61, +1.15%) , another industry bellwether, is also scheduled to release results late Tuesday. Bank of America reports its quarterly earnings on Friday. The S&P 500 Index (SPX 1,197, +0.82, +0.07%) rose 0.82 points to 1,197.3,with consumer discretionary and technology up the most among the S&P's 10 industry groups. Energy weighed, with the price of crude futures falling for a fifth day to end at $84.05 a barrel. The Nasdaq Composite Index (COMP 2,466, +8.12, +0.33%) added 8.12 points, or 0.3%, to 2,465.99. Advancers edged just ahead of decliners on the New York Stock Exchange, where almost 1.1 billion shares traded hands. Composite volume topped 5.5 billion. Tuesday's economic data offered another illustration of an improving economy, with the Commerce Department reporting the nation's trade deficit widened in February as imports rose. The report offered evidence that consumer spending is on the rise.

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

AT&T T $26.2 -0.18 0.68% 34,240,264 NYSE: WSJ pC3 "BofA will Tap Outsider As new CFO; Was at AT&T" by Dan Fitzpatrick says Bank of America has hired Charles Noski as CFO, a move aimed at helping it recover from the fin'l crisis and gird itself for new regulations. He was cfo at AT&T from '99 to '02 and more recently was finance chief for Northrop Grumman.

USA Today p2B "AT&T drops ads that took shots at rival" bby AP says AT&T has pulled its ad campaign that respondeded to rival Verizon's slams on its wireless coverage. its new "Rethink Possible" sales pitch touts grand visions for untethered Internet access and avoids tearing down its top competitor. It could mean a truce to a battle that had no clear winner. Verizon was the world's second biggest advertiser last year with $2.24 bil ins pending, while At&T was fourth at $1.9 bil.

Alcoa AA $14.34 -0.23 1.58% 100,451,650 NYSE: WSJ pC1 "Dow climbs 13.45 Points, Holding 11K" by Peter A. McKay says a continuing retreat in energy prices boosted consumer stocks, helping the market to a small gain. The Dow was led by a 2.6% gain in retail bellwether Home Depot. Dow gains were tempered by a 1.6% drop in Alcoa on the basis of its results late Mon, which marked the unofficial start of 1Qtr earnings season.

Fin Times p26 "Investors shrug off Alcoa results as markets close ahead" by masa Serdarevic says US stocks closed higher yesterday as the market shrugged off Mon's disappointing results from Alcoa, as well as the worse than expected trade deficit figures which increased to $39.7 bil in Feb as imports grew faster than exports.

NYT pB10 "Trading Ends With a Modest Gain as Investors Digest Earnings Reports" by Javier Hernandez says Wall Street traders took in the first batch of quarterly earnings reports on Tues, but nobody seemed quite sure what to make of the numbers. Investors retreated at first as Alcoa, reported its 5th loss in 6 quarters sending stocks down sharply but as the session wore on, traders seemed to gain more confidence that certain sectors, like tech and manufacturing, were on the verge of robust results.

American Express AXP $44.99 +0.45 1.01% 10,901,674 NYSE: No mentions found.

Bank of America BAC $18.67 +0.01 0.05% 112,748,691 NYSE: WSJ pC3 "BofA will Tap Outsider As new CFO; Was at AT&T" by Dan Fitzpatrick says Bank of America has hired Charles Noski as CFO, a move aimed at helping it recover from the fin'l crisis and gird itself for new regulations. He was cfo at AT&T from '99 to '02 and more recently was finance chief for Northrop Grumman.

WSJ pC16 "Banks' Delay Could Pay Dividends" says Citigroup's common ratio at end of '09 was 9.65, JPMorgan's was 8.8%, Bank of America was 7.8% and Well Fargo was 6.5% while minimum level set by the gov for Tier 1 banks is 4%. Result: they will probably conserve cash and not pay dividends.

NYTpB1 "Banks Resist Plans to Cut Mortgages" by David Streitfeld says JPMorgan's ceo for home lending, David Lowman, attacked the idea of changing the mortgages for 7 million Americans whose homes may be foreclosed. He was joined by Well Fargo Home Mortgage exec, Mike Heid. Two other banks who testified before Congress on Tues from Bank of America and Citigroup avoided the issue.

Boeing BA $71.19 -0.73 1.02% 5,073,942 NYSE: USA Today p1B "Boeing balks at Ryanair plan to can toilets" says budget airline Ryanair says Boeing does not want to fulfill its request for planes with more seats and fewer toilets because it may compromise passenger safety as it cold slow emergency evacuations. [My comment: if you catch the pun email me and I'll note it in the Blog.]

Caterpillar CAT $66.19 -0.54 0.81% 6,997,116 NYSE: No mentions found.

Chevron CVX $80.21 -0.22 0.27% 7,960,542 NYSE: No mentions found.

Cisco CSCO $26.44 -0.09 0.34% 42,446,954 NASDAQ-GS: No mentions found.

Coca-Cola KO $55.02 +0.26 0.47% 7,489,354 NYSE: No mentions found.

Disney DIS $35.84 -0.05 0.14% 10,918,073 NYSE: No mentions found.

DuPont DD $38.61 -0.29 0.75% 5,931,488 NYSE: No mentions found.

ExxonMobil XOM $68.66 -0.05 0.07% 19,142,082 NYSE: AJC pA10 "Exxon Mobil urges disclosure of chemicals" says Exxon is urging oil field service firms to disclose the chemicals used in facturing, a drilling method that cracks open geological formations to release natural gas. Exxon is buying gas drilling, XTO Energy, for $29.2 bil.

Fin Times p16 "Exxon chief's pay falls 16% as group's earnings plunge" by Sheila McNulty says Rex Tillerson, ceo of XOM, fell 16% in '09, as falling commodity prices and the economic downturn resulted in a 57% drop in earnings.

GE $18.95 +0.24 1.28% 92,373,895 NYSE: No mentions found.

Hewlett-Packard HPQ $53.78 -0.10 0.19% 8,086,585 NYSE: No mentions found.

Home Depot HD $34.34 +0.86 2.57% 30,253,844 NYSE: AJC pA9 "HD supply's rev slump narrows by Rachel Tobin Ramos says HD Supply, the former Home Depot unit, narrowed its annual loss despite a 24% drop in rev.

WSJ pC1 "Dow climbs 13.45 Points, Holding 11K" by Peter A. McKay says a continuing retreat in energy prices boosted consumer stocks, helping the market to a small gain. The Dow was led by a 2.6% gain in retail bellwether Home Depot. Dow gains were tempered by a 1.6% drop in Alcoa on the basis of tis results late Mon, which marked the unofficial start of 1Qtr earnings season.

Intel INTC $22.7699 +0.2309 1.02% 103,729,897 NASDAQ-GS: WSJ pB1 "Intel's Earnings Set a High Bar" by Don Clark, NYT pB2 "High End Demand Gives Intel a Lift" by AP say Intel's profit and rev surged in 1Qtr kicking off an upbeat earnings season for tech firms as demand conitnues to improve for porducts like laptop computers & servers. It was its best 1Qtr since it was founded in '68, aided by new microprocessors tha arrived just as firms and consumers became more receptive to buying computers. Its profit for the period ended 3/27 was $2.44 bi, or 43 cents a share, compared with earnings same period last year of $629 mil or 11 cents a share. Rev. rose to $10.3 bil from $7.15 bil.

IBM $129.03 +0.67 0.52% 6,805,380 NYSE: No mentions found.

J.P.Morgan Chase JPM $45.87 -0.27 0.59% 27,755,712 NYSE: WSJ pC3 "James Dimon, Campus Divider" by Michael Corkery says Syracuse students are potesting James Dimon, JPM CEO, as graduation speaker saying they don't want to be part of polishing big banks' tarnished image.

WSJ pC16 "Banks' Delay Could Pay Dividends" says Citigroup's common ratio at end of '09 was 9.65, JPMorgan's was 8.8%, Bank of America was 7.8% and Well Fargo was 6.5% while minimum level set by the gov for Tier 1 banks is 4%. Result: they will probably conserve cash and not pay dividends.

NYTpB1 "Banks Resist Plans to Cut Mortgages" by David Streitfeld says JPMorgan's ceo for home lending, David Lowman, attacked the idea of changing the mortgages for 7 million Americans whose homes may be foreclosed. He was joined by Well Fargo Home Mortgage exec, Mike Heid. Two other banks who testified before Congress on Tues from Bank of America and Citigroup avoided the issue.

Johnson & Johnson JNJ $65.68 +0.57 0.88% 12,403,974 NYSE: No mentions found.

Kraft KFT $30.65 +0.31 1.02% 10,273,281 NYSE: No mentions found.

McDonald's MCD $68.92 +0.39 0.57% 5,625,904 NYSE: No mentions found.

Merck MRK $36.7 -0.15 0.41% 11,911,370 NYSE:

Microsoft MSFT $30.45 0.13 0.43% 39,242,024 NASDAQ-GS: WSJ pB6 "Microsoft, Too, Calls India for Tech Support" by Nick Wingfield says its outsourcing its own tech support to Indian firm Infosys Technologies.

WSJ pB6 "Chip makers pare Losses" by Alex Pevzner says 2 Taiwanese chip makers Nanya and Inotera says they reduced their 1Qtr losses as a result of the launch of the new Windows 7 operating systems from Microsoft which is prompting consumers and firms to replace their computers with new ones that require more memory storay providing a demand boost for DRAM chips, which are the main memory used to store data in pcs.

Pfizer PFE $17.18 -0.11 0.64% 65,853,399 NYSE: No mentions found.

Procter & Gamble PG $63 +0.30 0.48% 10,663,018 NYSE: Fin Times p14 "Procter & Gamble" says PG is the world's largest consumer goods maker & will increase its sales to emerging markets.It is going after Colgate's large share of the Brazilian toothpaste market.

3M MMM $83.94 +0.66 0.79% 4,248,118 NYSE: No mentions found.

Travelers TRV $52.22 +0.20 0.38% 3,416,661 NYSE: No mentions found.

United Technologies UTX $73.46 -0.30 0.41% 4,405,288 NYSE: No mentions found.

Verizon VZ $30.07 +0.13 0.43% 18,971,539 Dual Listed: USA Today p2B "AT&T drops ads that took shots at rival" bby AP says AT&T has pulled its ad campaign that respondeded to rival Verizon's slams on its wireless coverage. its new "Rethink Possible" sales pitch touts grand visions for untethered Internet access and avoids tearing down its top competitor. It could mean a truce to a battle that had no clear winner. Verizon was the world's second biggest advertiser last year with $2.24 bil ins pending, while At&T was fourth at $1.9 bil.

WalMart WMT $54.72 -0.30 0.55% 12,809,886 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