5/12/10 Wed. am Microsoft Launches Office 2010 Today

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Post No. 427. 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 SEC filings as of 5/10/10.

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.

DowThe Dow Jones Industrial Average closed Tuesday at 10,748.26 down 36.88 or 0.34% from Monday's close of 10,785.14. For the year the Dow is up 3.07%. Of the 30 Dow Companies: 7 gained and 23 declined. The biggest gainer dollar-wise IBM $126.89 +0.62 0.49% 6,498,850 NYSE and percentage-wise was Disney DIS $35.76 +0.47 1.33% 19,766,087 NYSE. The biggest decliner dollar-wise MMM $85.04 -0.93 1.08% 4,760,797 NYSE and percentage-wise was Alcoa AA $12.13 -0.46 3.65% 37,086,931 NYSE.

WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

Fin Times p23 "Losses for Goldman & JPMorgan as equities slip back" by masa Serdarevic says US stocks gave back a portion of Mon's spectacular gains on their open yesterday but the session closed with the main indices well off the day's lows and just slightly lower on the day. JPMorgan fell 1% as it reported that its trading oeprations made money very single biz day in 1Qtr. IBM gained 0.5%.

NYT pB10 "Widening Wkorries Drive Wall St. Lower and gold to New Highs" by Christine Hauser says the lingering uncertainty about the world economy on Tues led gold prices to surge to record levels and left major indexes on Wall St. searching for direction.

USA Today p4B "Stocks mostly hold on to Mon. gains" by Stephen Bernard, Tim Paradis says the stock market mostly held on to its big comeback after investors set aside worries about Europe's debt struggles.

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 15.87 down from Tuesday's open of 15.93 (year ago it was 42.57) the P/E estimate is 12.84up from Tuesday's 12.27 (year ago it was 23.95) and the current dividend yield is 2.55 down from Tuesday's 2.564 (it was 3.63 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Tuesday's Dow Jones Industrial Average closing numerator was 1,422.20 down 4.88 from Monday's closing numerator of 1,427.08. 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 4.88 for Monday by the divisor (0.132319125) you get the decrease in Tuesday's Dow of 36.88. 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 $47.41 down 0.16 from Monday's Dow Jones Industrial Average average closing price of $47.57. The median closing price of Tuesday's Dow Jones Industrial Average was 42.44 down 0.08 from Monday's median closing price of $42.52. The lowest volume was Travelers TRV $49.78 -0.31 0.62% 4,665,669 NYSE and the highest volume again was Bank of America BAC $17.16 -0.14 0.81% 187,833,110 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 lost $480 ($142,710 - $142,230).

Market Watch Mon. 5/11/10 5:44 p.m. by Kate Gibson says U.S. stocks erased session gains to end mostly lower on Tuesday, losing some steam after posting their biggest surge in a year in the prior session in the wake of Europe's $1 trillion rescue package. After rising nearly 90 points, the Dow Jones Industrial Average (INDU 10,748, -36.66, -0.34%) ended down 36.88 points at 10,748.26. The blue-chip average was weighed down by shares of Alcoa Inc. (AA 12.12, -0.01, -0.08%) , off 3.7%, and Merck (MRK 33.46, -0.05, -0.15%) , down 2%. Intel Corp. (INTC 22.27, -0.01, -0.05%) shares fell 1.2%, reversing gains that came after its chief executive told investors the company anticipates annual earnings growth in the low double digits in the next few years. But the tech-heavy Nasdaq Composite Index (COMP 2,375, +0.64, +0.03%) bucked the trend, climbing 0.6 points to 2,375.31. Biotechnology shares climbed after Gilead Sciences Inc. (GILD 39.25, -0.01, -0.03%) said its board had approved the buyback of $5 billion in shares during the next three years. The S&P 500 Index (SPX 1,156, -3.94, -0.34%) fell 3.94 points, or 0.3%, to 1,155.79, with utilities fronting sector gains among the index's 10 industry groups. Biotechnology shares climbed after Gilead Sciences Inc. (GILD 39.25, -0.01, -0.03%) said its board had approved the buyback of $5 billion in shares during the next three years.
Advancers still topped declining issues by 17 to 13 on the New York Mercantile Exchange, where more than 1.4 billion shares traded. Composite volume topped 6.0 billion. Gold settles at all-time highGold settles at an all-time high, a symptom of broad-based investor concerns about markets and the global economy. Barron's Mike Santoli and MarketWatch's David Weidner join the News Hub to discuss.
On the New York Mercantile Exchange, gold rose $19.5, or 1.6%, to end at $1,220.30 an ounce, while crude-oil futures finished under $77 a barrel.The major stock indexes initially had wavered as enthusiasm waned over the EU's nearly $1 trillion rescue plan to back debt-strapped countries. But Corn downplayed the notion that corporations that do business overseas would be hit amid belt-tightening by Greece and other debt-strapped nations. The bailout agreement offered reassurances that the common European currency would survive and the 16 nations that use the euro would be able to get loans. But the nations including Greece will also have to slash spending, possibly slowing Europe's recovery. Wall Street paid little heed after the Commerce Department reported inventories rose 0.4% in March, while wholesale sales climbed 2.4%. A less positive report had inflation accelerating in China last month, heightening concern that China's government might have to tighten credit to slow growth. On Monday, the Dow industrials gained more than 400 points in their largest jump since March 2009. The rally followed Wall Street's tumble late last week, which had the Dow on Thursday falling 998.5 points before recouping much of the slide late in the day.

AT&T T $25.64 -0.03 0.12% 32,365,913 NYSE: WSJ pB1 "Verizon, Google Developing iPad Rival" by Niraj Sheth says Verizon Wireless is working with Google on a tablet computer as it tries to catch up with iPad host AT&T in devices that connect to wireless networks. The work is aprt of a deepening relationship between the largest US wireless carrier and Google, which has carved out a space in mobile devices with its Android operating system. Verizon last year heavily promoted the Motorola Droid, which runs Google's software.

WSJ pD3 "A Plan to Ease the Shock of Cellphone Bills" by Amy Schaz, Sara Silve, NYT pB5 "FCC Weights Plan to Warn of High Cellphone Bill" by Edward Wyatt say the FCC in considering a proposal that would require AT&T, Verizon, Sprint & T-Mobile and other carriers to alert users when they near voice, text & data limits. the month charges for the carriers are listed.

Alcoa AA $12.13 -0.46 3.65% 37,086,931 NYSE: WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

Amex AXP $43.33 +0.24 0.56% 12,331,544 NYSE: No mentions found.

Bank of Am BAC $17.16 -0.14 0.81% 187,833,110 NYSE: WSJ pB4 "BofA Benefits From Calm Bond Markets" by Marshall Eckblad says Bank of America joined JPMorgan and Goldman Sachs in recording no trading days that resulted in a net loss during the first quarter. BofA's traders produced daily profits of at least $25 mil during 95% of the days in the 1Qtr.

NYT pB1 "3 Big Banks Score Perfect 61 Day Run" by Eric Dash says perfect trading quarters are rare but were achieved by Bank of America, Goldman Sachs and JPMorgan during 1Qtr.

Boeing BA $71.42 +0.42 0.59% 6,550,280 NYSE: USA Today p1B "1,700 strike at Boeing assembly plant, AJC pA8 "Boeing workers picket at Cal. locations" say Boeing workers on the giant C-17 cargo jets in Long Beach, CA are picketing in a dispute over pension & medical benefits.

Caterpillar CAT $66.07 -0.62 0.93% 7,481,206 NYSE: WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

Chevron CVX $79.7 -0.19 0.24% 12,016,220 NYSE: No mentions found.

CSCO $25.96 -0.17 0.65% 53,716,741 NASDAQ-GS: No mentions found.

Coke KO $53.61 -0.43 0.8% 11,581,353 NYSE: AJC pA7 "Whie House panel praises soda-pop tax" by Jeremiah McWilliams say a White House task force put pressure on the restaurant and beverage industries with a report on childrens' obesity that favors a soda tax which Coca-Cola and PepsiCo have fought, specifically state taxes on carbonated soft drinks and were successful in blocking a federal version in the health insurance reform bill passed last year.

Disney DIS $35.76 +0.47 1.33% 19,766,087 NYSE: WSJ pB3 "Alice Boosts Disney; Theme Parks Disappoint" by Ethan Smith, NYT pB9 "Dis Movie Unit Drives Strong Results in Quarter"by Brooks Barnes say the box office success of Alice in Wonderland helped drive up Disney's quarterly profit 55% from a year earlier. Disney's studio unit's operating income leaped to $223 mil from 13 mil a year earlier, while rev at the unit increased just 7%. For the 3 months ended 4.3, Dis had net income of $953 mil or 48 cents a share, a 55% rise from $613 mil a year earlier. Rev rose 6% to $8.6 bil and the results beat analyst forecasts.

WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

DuPont DD $38.1 -0.14 0.37% 9,292,392 NYSE: No mentions found.

Exxon XOM $64.46 -0.77 1.18% 29,786,868 NYSE: No mentions found.

GE $18 -0.04 0.22% 83,466,263 NYSE: No mentions found.

Hewlett-Packard HPQ $48.42 -0.6775 1.38% 17,316,909 NYSE: No mentions found.

Home Depot HD $35.63 +0.34 0.96% 26,625,330 NYSE: WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

Intel INTC $22.28 -0.27 1.2% 102,681,072 NASDAQ-GS: WSJ pB5 "Intel Chief Expects Strong Growth" by Don Clark says Intel predicted its business will grow sharply over the next few eyars, driven by an expansion into new markets as well as surprising strength int he coputer biz.

IBM $126.89 +0.62 0.49% 6,498,850 NYSE: Fin Times p12 "IBM" says IBM presents to investors today. It is the world's largest consulting firm and 3rd largest software firm and has become the model of how to sell integrated hardware, software and IT services. It is the largest manufacturer of servers.

Fin Times p23 "Losses for Goldman & JPMorgan as equities slip back" by masa Serdarevic says US stocks gave back a portion of Mon's spectacular gains on their open yesterday but the session closed with the main indices well off the day's lows and just slightly lower on the day. JPMorgan fell 1% as it reported that its trading oeprations made money very single biz day in 1Qtr. IBM gained 0.5%.

JPMorgan JPM $41.55 -0.40 0.95% 50,703,059 NYSE: WSJ pB4 Bank Bets on Newspapers" by Caitlin Nish says JPMorgan increased its investment in Gannett by mroe than $300 mil as it reported a 10.2% passive stake in the publisher.

NYT pB1 "3 Big Banks Score Perfect 61 Day Run" by Eric Dash says perfect trading quarters are rare but were achieved by Bank of America, Goldman Sachs and JPMorgan during 1Qtr.

Fin Times p23 "Losses for Goldman & JPMorgan as equities slip back" by masa Serdarevic says US stocks gave back a portion of Mon's spectacular gains on their open yesterday but the session closed with the main indices well off the day's lows and just slightly lower on the day. JPMorgan fell 1% as it reported that its trading oeprations made money very single biz day in 1Qtr. IBM gained 0.5%.

Johnson & Johnson JNJ $64.67 -0.08 0.12% 10,864,429 NYSE: No mentions found.

Kraft KFT $30.37 -0.15 0.49% 12,700,948 NYSE: No mentions found.

McDonald's MCD $70.48 -0.10 0.14% 6,709,860 NYSE: WSJ pB3 "Sarbucks Targets Regular Joes" by Kevin Hilliker says the new push by Starbucks is a response to the invasion of the specialty coffee market by McDonald's, Dunkin Donuts & otehr fast food chains which offer espresso based drinks at lower prices than Starbucks.

Merck MRK $33.51 -0.74 2.16% 24,633,677 NYSE: WSJ pB3 "Merck halts Foray Into New Field" by Peter LOftus says it plans to file 5 new drug apps this year but said it ended development of its first stab at a follow on biologic drug, illustrating the risks of this emergin field. Newly enriched by its $49.6 bil takeover of swchering Plough Merck plans to get approval of drugs to treat diabetes, hepatitis C and Cancer. Biologics are developed from living cells as opposed to chemicals.

WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

Microsoft MSFT $28.88 -0.06 0.21% 63,773,769 NASDAQ-GS: AJC pA11 "Microsoft gets aggressive with free apps," NYT pB1 "Revamped Microsoft Office Will Be Free on the Web" by Ashlee Vance say MSFT is rolling out a new edition of its Office programs to businesses today and for the first time its adding versions of Word and other programs that work in a Web browser and will be free for consumers. Office 2010 is a milestone to keep up with the shift from programs tha are stored on PCs to free ones that can be accessed from any computer over the Internet.

Pfizer PFE $17.01 +0.01 0.06% 53,883,729 NYSE: No mentions found.

Procter & Gamble PG $62.37 -0.05 0.08% 12,395,980 NYSE: Fin Times p20 "P&G gering up for Y50bn samurai issue" by Lindsay Whipp says Procer & Gamble palns to tap the samurai market in the first corp. issuance there since Dec and is expected to do a deal for Y50bn.

3M MMM $85.04 -0.93 1.08% 4,760,797 NYSE: WSJ pC5 "Priceline Sinks 12%; Alcoa Falls" by Donna Yesalavich says stocks fell as rising inflation in China led investors to expect further monetary tightening by Beijing, prompting worries over the potential impact on demand for firms reliant on global growth such as Alcoa, 3M & Caterpillar. Merck was weak with a decline of 2.2% after it said it had ended development of its first stab at a follow on biologic drug. Disney was the Dow's best performer up 1.3% as investors awaited their quarterly results after the close. Home Depot gained 1%.

Traveler TRV $49.78 -0.31 0.62% 4,665,669 NYSE: No mentions found.

United Tec UTX $73.13 +0.09 0.12% 5,971,317 NYSE: No mentions found.

Verizon VZ $28.4 -0.21 0.73% 23,229,931 Dual Listed: WSJ pB1 "Verizon, Google Developing iPad Rival" by Niraj Sheth says Verizon Wireless is working with Google on a tablet computer as it tries to catch up with iPad host AT&T in devices that connect to wireless networks. The work is aprt of a deepening relationship between the largest US wireless carrier and Google, which has carved out a space in mobile devices with its Android operating system. Verizon last year heavily promoted the Motorola Droid, which runs Google's software.

WSJ pD3 "A Plan to Ease the Shock of Cellphone Bills" by Amy Schaz, Saa Silver says the FCC in considering a proposal that would require AT&T, Verizon, Sprint & T-Mobile and other carriers to alert users when they near voice, text & data limits. the month charges for the carriers are listed.

WalMart WMT $52.46 -0.12 0.23% 19,615,611 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 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 5/10/10 market 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: 5/6/10 10-Q
5/4/10 8K: re: results from the annual meeting of the stockholders of AT&T Inc. held on April 30, 2010, in Chattanooga, Tennessee.

Alcoa AA: 5/4/10 8K re: Alcoa Inc.’s 2009 Sustainability Highlights Report.

American Express AXP: 5/5/10 10Q
4/28/10 8-K re: transcript of 4/22/10 American Express live audio conference call/webcast to discuss the Company’s financial results for the three months ended March 31, 2010

Bank of Am BAC: 5/10/10 Rule 424(b) Prospectus
5/7/10 10-Q

Boeing BA: 4/28/10 8-K re: results of its Annual Meeting of Shareholders on April 26, 2010

Caterpiller CAT: 5/10/10 Definitive Proxy materials
5/510 8-K re: departure of directors and officers
5/3/10 10Q

Chevron CVX: 5/510 10Q
4/30/10 8K re: 4/30/10 press release announcing unaudited first quarter 2010 net income of $4.6 billion

Cisco CSCO: 2/17/10 8K re: amendment of an excec vp's employment agreement.

Coke KO: 4/29/10 10Q
4/26/10 8K re: results of 4/21/10 voting results from annual meeting in Duluth, Ga.

Disney DIS: 3/16/10 8K re: amendment to stock option plan & by-laws

DuPont DD: 4/29/10 8K re: voting results from annual meeting held on 4/28/10.
4/27/10 10Q

ExxonMobil XOM: 5/6/10 10Q

GE: 5/7/10 8K to update fin'l info from form 10K
5/7/10 10Q

Hewlett-Packard HPQ: 4/29/10 Definitive proxy materials

Home Depot HD: 4/7/10 Proxy Statement

Intel INTC: 5/7/10 8K re: Micron Technology, Inc. completed its acquisition of Numonyx Holdings BV & issued shares of common stock to Numonyx shareholders. In exchange for Intel’s investment in Numonyx, Intel received approximately 64.2 million shares of Micron common stock, and issued a $72 million short-term payable.

5/3/10 10Q

IBM: 4/29/10 8K re: voting results from annual meeting of stockholders on 4/27/10
4/27/10 10Q

JPMorganChase JPM: 5/10/10 10Q

Kraft KFT: 5/7/10 10Q

McDonalds MCD: 5/6/10 10Q

Merck MRK: 5/7/10 10Q

Microsoft MSFT: 4/22/10 10Q.

Pfizer PFE: 5/4/10 8K re: 1Qtr results
4/28/10 8K re: voting results of Pfizer's annual meeting of shareholders held on 4/22/10

Procter & Gamble PG: 4/30/10 10Q

3M MMM: 5/5/10 10Q

Travelers TRV: 8K re: voting results of Travlers annual meeting of shareholders on 5/4/10

4/23/10 10Q

United Technologies UTX: 4/26/10 10Q

Verizon Communications Inc. VZ: 4/28/10 10Q

WalMart WMT: 8K re: press release re: negative court decision against WalMart allowing an employee sex discrimination case to go forward