5/1/10 Sat. Chevron Net Rises Due to Oil Prices

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Post No. 409. 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 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 11008.61 down 158.71 or 1.42% from Thursday's close of 11167.32. For the week the Dow was down 195.67 or 1.75% from last Friday's close of 11,204.28. For the year the Dow is up 5.57%. 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 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 16.21 down from Friday's 16.70 (year ago it was 35.40) the P/E estimate is 14.10 unchanged from Friday's 14.10 (year ago it was 22.77) and the current dividend yield is 3.76 up from Friday's 2.45 (it was 3.78 a year ago). The Dow ended April with a 1.4% gain, the 3rd consecutive month in positive territory. The Dow's all-time high was 14,164.53 on Oct. 9, 2007.

WSJ pB1 "DJIA Declines 158.71; Week's Drop is 1.75%" by Peter McKay says stocks tumbled Fri, capping the worst week since Jan, as news that Goldman Sachis nowthe subject of a criminal probe prompted investors to sell fin'l shares.

WSJ pB2 "Bank Take a Bite Out of Dow" by Donna Yesalavich says stocks tumbled, led by fin'l stocks, including JPMorgan and Bank of America, following reports of a criminal inquiry into Goldman Sachs.

Fin Times p14 "Banks fare worst on fears over fin'l reform bill" by Masa Serdarevic says concerns over Greece's fiscal situation and the threat of contagion to other eurozone countries hit risk appetite, sending US stock prices sharply lower on the week. Energy producer Chevron declined 1% in spite of the release of 1Qtr results that were significantly better than expected as rising oil prices offset lower earnings from its refineries. ExxonMobil was 2.1% lower over the week as it posted weaker than expected results for the 1Qtr on Thurs, hit by losses at its US oil refineries. Shares in Palm surged 15.5% as it announced it had sold itself to Hewlett-Packard for $5.70 a share, or $1.2 bi, representing a 23% premium over Palm's closing price on Wed.

NYT "Wall St Finishes April With a Thud" by Christine Hauser says Wall St. ended the monthon a down note Fri as shares struggled from the open. Fueling Fri's decline were the uncertainties surrounding the Greek debt crisis and downgrades of the ivnestment bank Goldman Sachs.

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.

AT&T T $26.06 0.08 0.31% 33,740,978 NYSE: No mentions found.

Alcoa AA $13.43 0.29 2.11% 29,285,035 NYSE: No mentions found.

American Express AXP $46.12 1.48 3.11% 13,996,618 NYSE: No mentions found.

Bank of America BAC $17.83 0.47 2.57% 231,283,468 NYSE: WSJ pB2 "Bank Take a Bite Out of Dow" by Donna Yesalavich says stocks tumbled, led by fin'l stocks, including JPMorgan and Bank of America, following reports of a criminal inquiry into Goldman Sachs.

Boeing BA $72.43 1.36 1.84% 5,600,881 NYSE: No mentions found.

Caterpillar CAT $68.09 2.66 3.76% 9,428,029 NYSE: No mentions found.

Chevron CVX $81.44 0.85 1.03% 13,910,271 NYSE: WSJ pB5 "Chevron Net Rises, Buoyed by Oil Prices" by Isabel Ordonez, David Winninbg, NYT pB2 "Chevron Quarterly Profit Doubles" by Reuters say Chevron's 1Qtr earnings more than doubled as it, like its rivals, benefited from stronger prices & increased production. CVX had a profit of $4.55 bil or 2.27 a share, up from $1.84 bil or 92 cents, a year earlier. Chevron is bidding for Devon energy's 3 exploration blocks in the South China Sea, a move that would expand its footprint to China's deep water.

Fin Times p14 "Banks fare worst on fears over fin'l reform bill" by Masa Serdarevic says concerns over Greece's fiscal situation and the threat of contagion to other eurozone countries hit risk appetite, sending US stock prices sharply lower on the week. Energy producer Chevron declined 1% in spite of the release of 1Qtr results that were significantly better than expected as rising oil prices offset lower earnings from its refineries. ExxonMobil was 2.1% lower over the week as it posted weaker than expected results for the 1Qtr on Thurs, hit by losses at its US oil refineries. Shares in Palm surged 15.5% as it announced it had sold itself to Hewlett-Packard for $5.70 a share, or $1.2 bi, representing a 23% premium over Palm's closing price on Wed.

CSCO $26.93 0.60 2.18% 41,886,891 NASDAQ-GS: No mentions found.

Coke KO $53.45 0.29 0.54% 9,674,770 NYSE: AJC pA14 "Impulse buyers return to convenience stores" says volume declines at convenience stores as reported by cocke and Pepsi have slowed last quarter for the first time in at least a year.

Disney DIS $36.84 0.38 1.02% 11,456,311 NYSE: NYT pB2 "Job Cuts at ABC Leave Workers Stunned and Downcast" by Brian Stelter says ABC news, a unit of the Walt Disney Company, largely completed one of the most drastic rounds of budget cutbacks at a tv news operation in decades, affecting roughly a quarter of the staff. The cutbacks promise to change ABC on and of camera.

NYT pC1 "Disney uses Cliffhanger To Market Toy Story 3" by Brooks Barnes says that Disney is giving free viewings to its movie but then stopping near the end to create buzz about its new movie.

DuPont DD $39.84 0.73 1.8% 9,510,175 NYSE: No mentions found.

Exxon XOM $67.77 0.89 1.3% 43,747,183 NYSE: Fin Times p14 "Banks fare worst on fears over fin'l reform bill" by Masa Serdarevic says concerns over Greece's fiscal situation and the threat of contagion to other eurozone countries hit risk appetite, sending US stock prices sharply lower on the week. Energy producer Chevron declined 1% in spite of the release of 1Qtr results that were significantly better than expected as rising oil prices offset lower earnings from its refineries. ExxonMobil was 2.1% lower over the week as it posted weaker than expected results for the 1Qtr on Thurs, hit by losses at its US oil refineries. Shares in Palm surged 15.5% as it announced it had sold itself to Hewlett-Packard for $5.70 a share, or $1.2 bi, representing a 23% premium over Palm's closing price on Wed.

GE $18.86 0.63 3.23% 111,990,981 NYSE: No mentions found.

Hewlett-Packard HPQ $51.97 0.91 1.72% 15,731,934 NYSE: Fin Times p14 "Banks fare worst on fears over fin'l reform bill" by Masa Serdarevic says concerns over Greece's fiscal situation and the threat of contagion to other eurozone countries hit risk appetite, sending US stock prices sharply lower on the week. Energy producer Chevron declined 1% in spite of the release of 1Qtr results that were significantly better than expected as rising oil prices offset lower earnings from its refineries. ExxonMobil was 2.1% lower over the week as it posted weaker than expected results for the 1Qtr on Thurs, hit by losses at its US oil refineries. Shares in Palm surged 15.5% as it announced it had sold itself to Hewlett-Packard for $5.70 a share, or $1.2 bi, representing a 23% premium over Palm's closing price on Wed.

WSJ Mag. p51 "Coming Around Again" by Amy Chozik, photos by Art Streiber profiles Carly Fiorina who in 1999 became the CEO of Hewlett-Packard making it the largest publicly traded firm ever to be run by a woman.

Home Depot HD $35.23 0.33 0.93% 15,800,787 NYSE: No mentions found.

Intel INTC $22.84 0.65 2.77% 81,823,897 NASDAQ-GS: No mentions found.

IBM $129 1.46 1.12% 6,266,689 NYSE: No mentions found.

JPMorgan JPM $42.58 1.42 3.23% 54,069,244 NYSE: WSJ pB2 "Bank Take a Bite Out of Dow" by Donna Yesalavich says stocks tumbled, led by fin'l stocks, including JPMorgan and Bank of America, following reports of a criminal inquiry into Goldman Sachs.

Johnson & Johnson JNJ $64.3 0.71 1.09% 14,183,818 NYSE: No mentions found.

KFT $29.6 0.31 1.04% 12,490,164 NYSE: No mentions found.

McDonald's MCD $70.59 0.93 1.3% 6,966,532 NYSE: No mentions found.

MRK $35.04 0.21 0.6% 15,721,657 NYSE: No mentions found.

Microsoft MSFT $30.535 0.468 1.51% 63,218,534 NASDAQ-GS: No mentions found.

Pfizer PFE $16.72 0.14 0.83% 51,013,464 NYSE: No mentions found.

PG $62.16 0.04 0.06% 15,768,837 NYSE: No mentions found.

MMM $88.67 0.66 0.74% 5,261,981 NYSE: No mentions found.

Travelers TRV $50.74 0.68 1.32% 5,243,008 NYSE: No mentions found.

United Tec UTX $74.95 1.07 1.41% 5,068,410 NYSE: No mentions found.

Verizon VZ $28.9 0.32 1.1% 21,916,475 Dual Listed: No mentions found.

WalMart WMT $53.64 0.06 0.11% 16,279,335 NYSE: AJC pA13 "Battle continues in bid to block Walmart" says a judge has kept alive the battle to block a WalMart store near an endangered Civil War battlefield in Va saying opponents can go forward with a lawsuit.


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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