4/8/10 Thurs am Boeing's 787 Passes Stress Test

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Post No. 371. 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, USA Today, 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 Wednesday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Wednesday at 10,897.52 down 72.47 or 0.66% from Tuesday's close of 10,969.99. Of the 30 Dow Companies: 6 gained and 24declined. For the year the Dow is up 4.50%. The biggest gainer dollar-wise was and percentage-wise was Bank of America BAC $18.62 +0.13 0.7% 231,717,412 NYSE. The biggest decliner dollar-wise and percentage-wise was Verizon VZ $30.24 -0.96 3.08% 27,048,255 Dual Listed.

WSJ pC5 "Alcoa Gives up 1.9%; AmEx, CAT Fall, Too" by Donna Yesalavichs ays stocsk fell Wed, with Alcoa, American Express and Caterpillar among the decliners as a bigger than expected drop in consumer credit weighed, along with comments from Fed. Res. officials over how to deal with economic concerns such as debt and inflation. Verizon Comm is charted under Bad News saying it isn't leaping at the opportunity to merge with jv partner Vodafone.

WSJ pC1 "Dow Pulls Back From 11000" by Mark Gongloff, Peter McKay says 2 days ago, stock and bond markets were flirting with milestoens but on Wed were in full retrreat.

Fin Times p24 "Struggling herbicide div weighs on Monsanto results" by Masa Serdarevic says US stock prices pulled back after a Fed. Res. official said interest rates in the US should be raised and amid worse than expected consumer credit figures.

NYT pB11 "A Call for the Fed to Raise Rates Unsettles Investors" by Javier C. Hernandez says Wall St. investors were rattled on Wed by the prospect of higher interest rates and new signs that consumers were reluctant to spend again.

USA Today "Greece crisis takes bite out of stocks" by AP says the stock market fell Wed on renewed concerns about Greece's debt crisis and a lower oil prices.

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 16.99 downn from Wednesday morning's 17.10 (year ago it was 26.71) the P/E estimate is 14.00 unchanged from Wedneday's 14.00 (year ago it was 21.06) and the current dividend yield is 2.50 up from Wednesday's 2.49 (it was 3.96 a year ago).

Wednesday's Dow Jones Industrial Average closing numerator was 1,441.85 down 9.69 from Tuesday's closing numerator of 1,451.54. 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 9.69 for Wednesday by the divisor you get the decrease in Wednesday's Dow close of 72.47. 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 $48.06 down 0.32 from Tuesday's Dow Jones Industrial Average closing price of $48.38. The median closing price of Wednesday's Dow Jones Industrial Average was 43.82 down 0.66 from Tuesday's median closing price of $44.48. The lowest volume was 3M MMM $83.66 -0.69 0.82% 4,450,908 NYSE and the highest volume again was Bank of America BAC $18.62 +0.13 0.7% 231,717,412 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 $960 ($145,140-$144,180).

Market Watch 4/7/10 4:10 pm by Kate Gibson says U.S. stocks fell sharply Wednesday as a plethora of worries prompted what bulls and bears alike viewed as an overdue down day. "Of the last 30 days we've had seven down days, so we're due. If the market gets up to bat 30 times and only misses seven you're going to the Hall of Fame," said Art Hogan, chief market strategist at Jefferies & Co. Hogan listed Greece's debt and Treasury auctions as among the issues weighing. The Dow Jones Industrial Average (INDU 10,897, -72.55, -0.66%) fell 72.47 points to 10,897.52. The S&P 500 dropped 6.99 points to 1,182.45. The Nasdaq Composite (COMP 2,431, -5.65, -0.23%) declined 5.65 points to 2,431.16.

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

AT&T T $25.65 -0.66 2.51% 31,165,546 NYSE: NYT pB6 "AT&T Image Campaign Accentuates the Positive, Not Products" by Stuart Elliott says AT&T is introducing a major corporate brand image today. AT&T is one of the 5 largest US advertisers. The sunny theme will be "Rethink possible."

WSJ pB1 "FCC Seeks new Plan For Web" by Amy Schatz, Niraj Sheth says the FCC is starting to think about relaunching their broadband strategy a day after a court threw out their earlier effort to police broadband traffic. AT&T has spent $17.3 bil on capital expenditures for its landline and wireless networks and Verizon Comm. spent $17 bil. The recent court decision means Comcast, At&T and othe providers can now block Web sites or Internet services like online video anytime that uses large amounts of bandwidth.

USA Today p3B "Apple concedes iPad WiFi issue" says Apple acknowledged that the device sometimes has trouble connecting to the Internet. Later this month, Apple will start selling models that connect to the Internet via 3G wireless AT&T service.

Alcoa AA $14.74 -0.29 1.93% 31,417,920 NYSE: WSJ pC5 "Alcoa Gives up 1.9%; AmEx, CAT Fall, Too" by Donna Yesalavichs ays stocsk fell Wed, with Alcoa, American Express and Caterpillar among the decliners as a bigger than expected drop in consumer credit weighed, along with comments from Fed. Res. officials over how to deal with economic concerns such as debt and inflation. Verizon Comm is charted under Bad News saying it isn't leaping at the opportunity to merge with jv partner Vodafone.

American Express AXP $42.37 -0.75 1.74% 9,763,275 NYSE: WSJ pC5 "Alcoa Gives up 1.9%; AmEx, CAT Fall, Too" by Donna Yesalavichs ays stocsk fell Wed, with Alcoa, American Express and Caterpillar among the decliners as a bigger than expected drop in consumer credit weighed, along with comments from Fed. Res. officials over how to deal with economic concerns such as debt and inflation. Verizon Comm is charted under Bad News saying it isn't leaping at the opportunity to merge with jv partner Vodafone.

Bank of America BAC $18.62 +0.13 0.7% 231,717,412 NYSE: No mentions found.

Boeing BA $72.1 -0.26 0.36% 6,680,977 NYSE: AJC pA16 "Boeing: 787 passes wing, fuselage stress tests" says on 3/28/10 passed the tests in Everett, Wash.

Fin Times p15 "EADS sounds out suppliers as it nears US bid decision" by Sylvia Pfeifer, Peggy Hollinger says it is assessing whether its Airbus A330 can win over Boeing's 767 in the controversial US refuelling of tankers contract to be bid by the US gov in which EADS has dropped out saying it was rigged in Boeing's favor.

Caterpillar CAT $64.47 -0.82 1.26% 6,944,097 NYSE: WSJ pC5 "Alcoa Gives up 1.9%; AmEx, CAT Fall, Too" by Donna Yesalavichs ays stocsk fell Wed, with Alcoa, American Express and Caterpillar among the decliners as a bigger than expected drop in consumer credit weighed, along with comments from Fed. Res. officials over how to deal with economic concerns such as debt and inflation. Verizon Comm is charted under Bad News saying it isn't leaping at the opportunity to merge with jv partner Vodafone.

Chevron CVX $77.37 -0.51 0.65% 9,370,862 NYSE: No mentions found.

Cisco CSCO $26.34 -0.12 0.46% 43,115,465 NASDAQ-GS: No mentions found.

Coca-Cola KO $53.82 -0.47 0.87% 11,760,065 NYSE: AJC pA15 "Coke msueum hits milestone" by Jeremiah McWilliams says the 3 millionth visitor walked through the Atlanta downtown museum.

Disney DIS $35.32 -0.15 0.42% 9,191,168 NYSE: No mentions found.

DuPont DD $38.79 -0.02 0.05% 8,485,009 NYSE: No mentions found.

ExxoMobil XOM $67.34 -0.56 0.82% 24,387,128 NYSE: No mentions found.

GE $18.5 -0.10 0.54% 60,019,781 NYSE: No mentions found.

Hewlett-Packard HPQ $53.29 -0.57 1.06% 12,011,369 NYSE: NYT pB3 "H.P. Predicts A Revolution In Building memory Chip" by John Markoff says Hewlett-Packard is about to report advances in the design of a new class of dimunitive switches known as memristors, or memory resistors, that are capable of replacing transistors as computer chips shrink closer to the atomic scale.

Fin Times p13 "Blobal sales of computer serves see rare boom" & Fin Times p16 "Servers soaring as recession thaws" both by Chris Nuttall says the global computer server industry is witnessing a once in decade sweet spot of sales growth, boosted by a rare alignment of economic recovery, big tech advances and soaring data handling needs. JPMorgan analysts doubled their estimates for server rev growth in '10 from 6.2% to 14.3%. IBM, Hewlett-Packard, Dell and Oracle, as well as processor makers Intel and AMD, have all rushed to bring out a range of server products.

Home Depot HD $32.61 +0.06 0.18% 11,033,642 NYSE: AJC pA16 "Home Depot's Blake got $2.1 Mil bonus in "09" says Frank Balke had waived his bonus in '08 per the firm's proxy statement filed Wed.

Intel INTC $22.45 +0.05 0.22% 61,267,453 NASDAQ-GS: Fin Times p13 "Blobal sales of computer serves see rare boom" & Fin Times p16 "Servers soaring as recession thaws" both by Chris Nuttall says the global computer server industry is witnessing a once in decade sweet spot of sales growth, boosted by a rare alignment of economic recovery, big tech advances and soaring data handling needs. JPMorgan analysts doubled their estimates for server rev growth in '10 from 6.2% to 14.3%. IBM, Hewlett-Packard, Dell and Oracle, as well as processor makers Intel and AMD, have all rushed to bring out a range of server products.

IBM $128.48 -0.45 0.35% 4,840,859 NYSE: Fin Times p13 "Blobal sales of computer serves see rare boom" by Chris Nuttall says the global computer server industry is witnessing a once in decade sweet spot of sales growth, boosted by a rare alignment of economic recovery, big tech advances and soaring data handling needs. JPMorgan analysts doubled their estimates for server rev growth in '10 from 6.2% to 14.3%. IBM, Hewlett-Packard, Dell and Oracle, as well as processor makers Intel and AMD, have all rushed to bring out a range of server products.

J.P.Morgan Chase JPM $45.32 -0.52 1.13% 28,725,094 NYSE: Fin Times p13 "Blobal sales of computer serves see rare boom" by Chris Nuttall says the global computer server industry is witnessing a once in decade sweet spot of sales growth, boosted by a rare alignment of economic recovery, big tech advances and soaring data handling needs. JPMorgan analysts doubled their estimates for server rev growth in '10 from 6.2% to 14.3%. IBM, Hewlett-Packard, Dell and Oracle, as well as processor makers Intel and AMD, have all rushed to bring out a range of server products.

Johnson & Johnson JNJ $65.22 -0.09 0.14% 9,312,568 NYSE: WSJ pB4 "US Probes Alleged Seller of Fake J&J Diabetes Monitors" by Peter Loftus says Fed. proscutors are investigating a Fla. man acccused by Johnson 7 Johnson of selling counterfeit and potentially deadly versions of its diabetes care products.

Kraft KFT $30.07 -0.01 0.03% 8,441,252 NYSE: No mentions found.

McDonald's MCD $67.7 -0.11 0.16% 6,597,089 NYSE: No mentions found.

Merck MRK $36.79 -0.46 1.23% 18,237,732 NYSE: No mentions found.

Microsoft MSFT $29.35 +0.03 0.1% 56,367,030 NASDAQ-GS: No mentions found.

Pfizer PFE $17.07 +0.11 0.65% 84,081,296 NYSE: No mentions found.

Procter & Gamble PG $62.5 -0.61 0.97% 13,359,325 NYSE: WSJ pC3 "P&G's Lafley joins Eqity Firm" y Peer lattman, Ellen Byron says former Procter & Gamble CEO A.G.Lafley will join private eqity firm Clayton, Dubilier & Rice.

3M MMM $83.66 -0.69 0.82% 4,450,908 NYSE: No mentions found.

Travelers TRV $52.5 -0.09 0.17% 5,621,472 NYSE: No mentions found.

United Technologies UTX $73.99 -0.68 0.91% 5,203,012 NYSE: No mentions found.

Verizon VZ $30.24 -0.96 3.08% 27,048,255 Dual Listed: WSJ pB1 "FCC Seeks new Plan For Web" by Amy Schatz, Niraj Sheth says the FCC is starting to think about relaunching their broadband strategy a day after a court threw out their earlier effort to police broadband traffic. AT&T has spent $17.3 bil on capital expenditures for its landline and wireless networks and Verizon Comm. spent $17 bil. The recent court decision means Comcast, At&T and othe providers can now block Web sites or Internet services like online video anytime that uses large amounts of bandwidth.

WSJ pC5 "Alcoa Gives up 1.9%; AmEx, CAT Fall, Too" by Donna Yesalavichs ays stocsk fell Wed, with Alcoa, American Express and Caterpillar among the decliners as a bigger than expected drop in consumer credit weighed, along with comments from Fed. Res. officials over how to deal with economic concerns such as debt and inflation. Verizon Comm is charted under Bad News saying it isn't leaping at the opportunity to merge with jv partner Vodafone.

WalMart WMT $55.28 -0.25 0.45% 12,865,387 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