Saturday, April 24, 2010

4/24/10 Sat.. Health care Overhaul Costs Merck $170 Mi.

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Post No. 399. 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 Saturday's Wall St. Journal, Financial Times, New York Times, Atlanta Journal & Constitution yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Friday at 11,204.28 up 69.99 or 0.63% from Thursday's close of 11,134.29. For the week the Dow was up 185.62 1.68% from last Friday's close of 11018.66. For the year the Dow Jones Industrial Average is up7.44%. Of the 30 Dow Companies: 21 gained and 9 declined. The biggest gainer dollar-wise and percentage-wise was Merck MRK $35.46 +1.69 5% 41,330,713 NYSE. The biggest decliner dollar-wise was Boeing BA $75.13 -0.46 0.61% 5,191,340 and percentage-wise was Microsoft MSFT $30.96 -0.43 1.37% 126,650,397 NASDAQ-GS NYSE.

WSJ pB1 "No Drama: dow Climbs 69.99 Points" by Tom Lauricella says Greek bond prices swung wildly after the widely expected decision to seek fin'l aid, but the ripples didn't spread far. Gains were led by energy stocks as oil prices topped $85 a barrel.Better than expected new home sales data also gave stocks a lift.

WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and the earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

Fin Times p14 "Positive data releases help trigger late rally" by Telis Demos says US stocks advanced in a late rally Friday as data releases described a sharply improving economic picture, which came against a backdrop of mostly positive corporate earnings.

NYT pB8 "Dow Ends Week Up, Extending Its Streak to 5 Days" by Christine Hauser says stocks pushed higher on Friday as the Dow Jones industrial average rose for a 5th consecutive day, and analysts saw little economic news on the horizon that would upset market sentiment next week. Spurred by the home buyer tax credit and increased optimism in the economy, the housing market continued on Fri to show some improvement. The Commerce Dept. said that sales of new homes rose in mar. to their highest levels since last summer.

As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B4 of today's Wall St. Journal is 0.132319125 unchanged, the trailing P/E ratio is 17.18 down from Friday's 17.19 (year ago it was 30.89) the P/E estimate is 14.10 up from Friday's 14.00 (year ago it was 22.30) and the current dividend yield is 2.44 down from Friday's 2.45 (it was 3.83 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 1,482.54 up 9.26 from Thursday's closing numerator of 1,473.28. 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 9.26 for Friday by the divisor you get the increase in friday's Dow close of 69.99. 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 $49.42 up 0.31 from Thursday's Dow Jones Industrial Average average closing price of $49.11. The median closing price of Friday's Dow Jones Industrial Average was 46.49 up 0.74 from Thursday's median closing price of $45.75. The lowest volume Travelers TRV $53.38 +0.41 0.76% 5,337,799 NYSE and the highest volume again was Bank of America BAC $18.43 -0.11 0.59% 145,252,435 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 made $930 ($148,260- $147,330).

Market Watch 4/23/10 5:03 p.m. by Peter McKay, Donna Yesalavich says energy stocks led a steady market rally Friday, spurred by a rally in oil prices over $85 a barrel and an upbeat outlook from Schlumberger. The Dow Jones Industrial Average (INDU 11,204, +69.83, +0.63%) rallied steady from just before midday through the close, ending with a gain of 69.99 points, or 0.6%, at 11204.28, boosted by a 1.8% gain in Chevron (CVX 82.63, -0.04, -0.05%) . Merck /(MRK 35.67, +0.21, +0.59%) was up 5% after calming investors' anxiety about the effect of the U.S. health-care overhaul on its profits, and American Express (AXP 48.09, +0.04, +0.08%) moved higher by nearly 2.7% after a strong earnings report late Thursday. Investors grew more optimistic about the U.S. economy following a Commerce Department report showing that sales of new homes in the U.S. posted their largest year-over-year increase in nearly five years. Weak earnings from key companies create mixed trading in U.S. stocks Tuesday. Reports from Dow in members Cat, Coke, DuPont and Merck did nothing to cheer investors. Recent stock rally may have masked broader economic weakness, traders say as they drive oil prices lower. President Obama says his administration won't let the struggling U.S. auto industry 'simply vanish,' as shares of General Motors fall about 25% after the White House says bankruptcy may be an option for both GM and Chrysler.Commodity traders bet on an improving outlook for oil demand, pushing crude futures up $1.42 to settle at $85.12 a barrel in New York. Long-dated contracts suggested even stronger prices later in the year, including a move above $90 by December. Schlumberger (SLB 72.60, -0.08, -0.11%) was up 6.6% after it announced a 28% decline in first-quarter earnings but forecast a full-year turnaround. Smith International (SII 49.16, +0.01, +0.02%), which is due to be acquired by Schlumberger in a deal pending regulatory approval, was up 7.1%.
Worries about Greece's finances kept a lid on the market's gains but didn't derail the generally optimistic mood that pervaded the market all week. Traders remained focused on the first-quarter earnings season on Wall Street, which has provided far more pleasant surprises than bad. The dollar weakened against the euro after Greece Prime Minister George Papandreou formally asked to tap a €45 billion ($59.9 billion) European Union-International Monetary Fund aid package, after soaring borrowing costs were seen as making it nearly impossible for the country to meet its funding needs on the open market. However, investors warned that pressure in the euro zone is likely to persist given key uncertainties about the rescue package. Western Digital stock surges more than 8% after the hard-disk drive maker reports a higher quarterly profit, but investors are cool toward shares of Microsoft and Amazon.
Among stocks to watch, Microsoft (MSFT 30.92, -0.04, -0.13%) declined 1.4%. The company's quarterly profit rose 35%, largely due to sales of the latest version of its Windows operating system, but investors grew concerned over a lower-than-expected figure on total deferred revenue. Travelers (TRV 53.00, -0.38, -0.71%) slipped 0.8% as an improvement in investment income at the insurer was offset by a spike in catastrophe costs tied to snowstorms on the U.S. East Coast and the earthquake in Chile. The Nasdaq Composite (COMP 2,530, +11.08, +0.44%) rose 0.4%, held in check by a 4.3% decline in Amazon.com (AMZN 143.83, +0.20, +0.14%) after the retailer posted strong first-quarter earnings accompanied by cautious guidance for the current quarter. Treasury prices fell. The benchmark 10-year note (UST10Y 3.81, +0.04, +0.98%) was off 11/32 to yield 3.821%.

AT&T T
$26.25 -0.02 0.08% 27,977,803 NYSE: Sat. AJC pA10 "Phone books near extinction" by Margaret Newkirk says the Ga. Public Service Comm. voted to let AT&T stop delivering residential phone books automatically in Marietta and Gwinnett County. House Bill 168 waiting the governor's signature would allow AT&T to eliminate the money losing white pages in all communities not just those of 50,000 or more as is now the case.

WSJ pB3 "Still Seeking Antitrust Test" by Robert Frank CentryTel's $10.6 bil purchase of Qwest Communications Int'l wll probably be approved by US regulators as the combined firm, which will operate land lines and fiber optic lines across the US, will be a more formidable rival to Verizon and AT&t.

Alcoa AA $14.11 +0.26 1.88% 24,476,636 NYSE: Sat. AJC pA11 "Alcoa CEO promoted to chairman of the board" says CEO Klaus Kleinfeld has been elevated to chairman of the board succeeding Alan Belda who is retiring after 40 years.

American Express AXP $48.05 +1.28 2.74% 17,404,523 NYSE: WSJ pB8 "Making Sense of the New Card Offers" by Jane im reviews Americn Express recent card offers alongwith Chase's, Fidelity's, Visa's and Discover's.

WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and athe earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

Bank of America BAC $18.43 -0.11 0.59% 145,252,435 NYSE: No mentions found.

Boeing BA $75.13 -0.46 0.61% 5,191,340 NYSE:

Caterpillar CAT $68.78 +0.27 1.88% 9,043,727 NYSE: No mentions found. No mentions found.

Chevron CVX $82.67 +1.47 1.81% 9,917,625 NYSE: No mentions found.

Coca-Cola KO
$53.88 -0.43 0.79% 10,802,423 NYSE: WSJ pA11 "Obama Care and New Coke" by Patrick Caddell, Scott Miller says the 25th anniversary of the intro of New Coke says the phenomenon is siilar with ObamaCare with respect to which 85% don't like because theya re happy with their own plans.

Sat. AJC pA11 "Union questions Coke bottler over shipping" by Jeremiah McWilliams says relations between the Teamsters and coca-Cola Enterprises dominated most of Friday's annual shareholders meeting fo the Atlanta based bottler.

Sat. AJC "Sprite Tea in China latest in drink wars" by Jeremiah mcWilliams says with the recent launch of Sprite Tea in China after more than a year of planning, KO has combined 2 of the most popular beverages in the country of 1.34 bil people. Sprite outsells Coke, Pepsi and all others in China.

Disney DIS $36.79 +0.01 0.03% 7,659,795 NYSE: No mentions found.

DuPont DD $40.22 +0.75 1.9% 6,684,688 NYSE: No mentions found.

Exxon XOM $69.24 +0.68 0.99% 24,290,246 NYSE: No mentions found.

GE $19.07 +0.12 0.63% 57,775,296 NYSE: No mentions found.

Hewlett-Packard HPQ $53.9 +0.59 1.11% 9,783,822 NYSE: No mentions found.

Home Depot HD $36.39 +0.67 1.88% 21,335,642 NYSE: WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and athe earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

Intel INTC $24.04 +0.05 0.21% 56,832,535 NASDAQ-GS: No mentions found.

IBM $129.99 +0.86 0.67% 6,197,282 NYSE: No mentions found.

J.P.Morgan JPM $44.94 +0.20 0.45% 32,467,508 NYSE: No mentions found.

Johnson & Johnson JNJ $65.04 +0.26 0.4% 11,589,863 NYSE: No mentions found.

Kraft KFT $30.09 -0.10 0.33% 11,815,211 NYSE: No mentions found.

McDonald's MCD $71.15 +0.12 0.17% 5,923,672 NYSE: No mentions found.

Merck MRK $35.46 +1.69 5% 41,330,713 NYSE: Sat. AJC A11 "Health care overhaul costs Merck $170 mil" says that amount will double next year and because it is less than the impact some rivals have reported, its shares rose on the news.

WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and athe earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

Microsoft MSFT $30.96 -0.43 1.37% 126,650,397 NASDAQ-GS: WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and athe earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

Pfizer PFE $16.91 +0.43 2.61% 97,890,988 NYSE: No mentions found.

Procter & Gamble PG $63.54 -0.05 0.08% 8,452,509 NYSE: No mentions found.

3M MMM $86.58 -0.53 0.62% 3,983,427 NYSE: No mentions found.

Travelers TRV
$53.38 +0.41 0.76% 5,337,799 NYSE: WSJ pB3 "Disaster Claims Crunch Travelers", Sat. AJC pA11 "Natural disasters hit Travelers' bottom line" say Travelers, based in NY, said its net income dipped to $647 mil from $662 mil last year. Its quarterly prfit for 1Qtr was $312 mil or 61 cents per share. Travelers still raised its quarterly dividend 9% to 36 cents a share.

WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and athe earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

United Technologies UTX $76.47 +0.04 0.05% 4,700,322 NYSE: No mentions found.

Verizon VZ
$29.05 -0.23 0.79% 24,440,288 Dual Listed: WSJ pB3 "Still Seeking Antitrust Test" by Robert Frank CentryTel's $10.6 bil purchase of Qwest Communications Int'l wll probably be approved by US regulators as the combined firm, which will operate land lines and fiber optic lines across the US, will be a more formidable rival to Verizon and AT&t.

WSJ pB2 "Blue Chips Hit 17 Month High" by Donna Yesalavich says stocks climbed to a 17 month high, led by the energy sector after Schlumberger said the industry is ripe for a turnaround. Strong earnings from American Express provided a boost, as did a jump in new-home sales, lifting Home Depot. This week marked the Dow's eigth consecutive week in the black, its longest weekly winning streak since a run that ended in Jan. '04. Merck was the Dow's best performer Fri after it laid out its expectations for how it will be affected by the US health care overhaul bill. American Express jumped 2.7% after it reported its 1Qtr profit doubled, topping analysts' expectations on tumbling loan loss provisions and a 16% rise in card member spending. Home Depot climbed 1.9% boosted by a Commerce Dept. report that US new home sales surged in March. Microsoft kept the Dow's gains in check with a 1.4% drop. Its quarterly profit rose 35% largely due to sales of the latest version of its Windows operating system, but it posted a lower-than-expected figure on total deferred rev. Travelers slipped 0.8%, as improved investment results were wiped out by a record disaster costs as storms on the US East Cost and athe earthquake in Chile caused claims costs to soar. Verizon Communications fell 0.8% as Goldman Sachs cuts its investment rating on the stock to neutral from buy.

WalMart WMT $54.53 0.04 0.07% 16,579,194 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