5/13/10 Thurs. am Cisco Erning Rocket by 63%

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Post No. 428. The following is brought to you by Intellivest Securities Research, Inc. Toward9 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 Thursday'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 Wednesday's stock prices and related data.

DowThe Dow Jones Industrial Average closed Wednesday at 10,896.91 up 148.65 or 1.38% from Tuesday's close of 10,748.26. For the year the Dow is up 4.5%. Of the 30 Dow Companies: 27 gained and 3 declined. The biggest gainer dollar-wise and percentage-wise was IBM $132.68 +5.79 4.56% 16,610,524 NYSE. The biggest decliner dollar-wise and percentage-wise was Disney DIS $35.13 -0.63 1.76% 25,532,402 NYSE.

WSJ pC1 "With 148 Point Gain, Dow Erases last Week" by Peter Mckay says tech stocks propelled the Dow higher on Wed, helping it reclaim last wee's lost ground. IBM issued an upbeat profit forecast for coming years, and reports said European giat software firm SAP would buy database make Sybase. Intel helped drive tech prices higher after saying that sales of chips would double over the next few years.

WSJ pC5 "IBM, Up 4.6%, Lifts Blue Chips" by Donna Yesalavich, Brendan Conway says stocks climbed as a strong earnings forecast from IBM lifted the tech sector, while firms that benefit from global growth, including DuPont and Caterpillar, rose after reports of better than expected economic growth in the euro zone. Under Good news IBM is charted saying CEO Samuel Palmisano at its annual meeting said earnings would double to at least $20 a share by '15 on moves in softwre, emerging markets.

USA Today p4B "UK, Spain promises boost US Stocks" by Bloomberg says stocks advanced Wed after pledges from the UK and Spain to shrink their budget deficits allayed concern that the European debt crisis will curtail global growth. IBM was the biggest gainer in the S&P 500 after predicting earnings per share may double by '15, thanks to cost cuts and customer demand. Intel gained 81 cents after forecasting an increase in gross profit margins.

Fin Times p24 "Dow strengthens as investors regain their composure" by Masa Serdarevic says US stock prices climbed steadily higher yesterday as investors took comfort in signs of receding European sovereign debt risk following the resolution of the UK election & Spain's announcement of a new austerity plan. Pharma group Merck was 0.4% higher afer its annual research and dev briefing day.

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 16.09 up from Wednesday's open of 15.87 (year ago it was 41.64) the P/E estimate is 12.84 unchanged from Wednesday's 12.84 (year ago it was 23.95) and the current dividend yield is 2.25 down from Wednesday's 2.55 (it was 3.70 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.

Wednesday's Dow Jones Industrial Average closing numerator was 1,441.75 up 19.55 from Tuesday's closing numerator of 1,422.20. 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 19.55 for Wednesday by the divisor (0.132319125) you get the increase in Wednesday's Dow of 148.6. 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 up 0.65 from Tuesday's Dow Jones Industrial Average average closing price of $47.41. The median closing price of Wednesday's Dow Jones Industrial Average was 42.89 up 0.55 from Tuesday's median closing price of $42.44. The lowest volume was 3M MMM $86.44 -1.40 1.65% 3,430,953 NYSE and the highest volume again was Bank of America BAC $17.07 -0.09 0.52% 177,921,430 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 made $1,950 ($144,180 - $142,230).

Market Watch Wed. 5/12/10 4:57 p.m. by Kate Gibson says U.S. stocks advanced Wednesday as investors returned their focus to the recovering domestic economy, helped by a March jump in exports and an optimistic outlook from International Business Machines Corp. After finishing nearly 37 points lower Tuesday, the Dow Jones Industrial Average (INDU 10,897, +148.80, +1.38%) closed up 148.65 points, or 1.4%, to 10,896.91. Of the Dow's 30 components, all but three rose, with gainers led by IBM (IBM 132.40, -0.28, -0.21%) . The tech services company's shares rallied 4.6% after the chief executive said it would double its earnings by 2015. The European Union rescue package has risks for emerging markets. Stocks in Brazil, India and China are overvalued. Also bolstering the blue chips, Intel Corp. (INTC 23.06, -0.03, -0.13%) gained 3.6%, Caterpillar Inc. (CAT 68.45, +0.30, +0.44%) was up 3.2%, and chemical giant DuPont (DD 39.43, +0.17, +0.43%) rose 4.2%. Another Dow component, industrial conglomerate 3M Co. (MMM 86.43, -0.01, -0.01%) , gained 1.7% after it declared a cash dividend late Tuesday for a 375th consecutive quarter. The S&P 500 Index (SPX 1,172, +15.88, +1.37%) gained 15.88 points, or 1.4%, to 1,171.67, with technology and industrial companies leading an advance that included all of the index's 10 industry groups. Among the notable gainers, shares of Fluor Corp. (FLR 53.39, +2.92, +5.79%) rose 5.8% after the largest publicly traded U.S. engineering firm said new business in the second quarter could top $8.8 billion. Signaling an ongoing improvement in the manufacturing sector, the Commerce Department on Wednesday reported the U.S. trade deficit climbed to a 15-month high in March, as exports rose to their highest level since October 2008. The Nasdaq Composite Index (COMP 2,425, +49.71, +2.09%) rose 49.71 points, or 2.1%, to 2,425.02. For every stock falling roughly six were on the rise on the New York Stock Exchange, where about 1.3 billion shares traded. Composite volume cleared 5.4 billion. The market is likely headed for a correction of about 10% in the weeks and months ahead, and if the economic recovery progresses more slowly than expected, a pullback could stretch to 15% to 20%. Investors have been fixated for the past week on whether Greek debt troubles could be contained or could spread across Europe, with the worry hitting the euro and prompting questions of whether the global recovery might be dented.
Stocks rose sharply on Monday after European leaders reached agreement on a nearly $1 trillion rescue plan to help Greece and curb the problem from escalating. On Wednesday, Europe's common currency traded near a 14-month low against the U.S. dollar, with the euro (CUR_EURUSD 1.2626, +0.0001, +0.0079%) slipping to $1.2617 from $1.2697 in late North American trades on Tuesday. Uncertainty over the euro, which is used by 16 countries, is among the factors propelling gold prices to a fresh high, with investors turning to the metal as an alternative vehicle to paper currencies. Gold for June delivery, the most active contract, finished at a record $1,243.10 on the Comex division of the New York Mercantile Exchange. Crude futures fell less than a buck to end at $75.65 a barrel after data showed increased inventory. Morgan Stanley (MS 27.81, +0.01, +0.04%) shares fell 2% after The Wall Street Journal reported that the investment bank faces a probe into its mortgage-securities business.

AT&T $25.82 +0.18 0.7% 29,291,158 NYSE: No mentions found.

Alcoa AA $12.46 +0.33 2.72% 31,170,666 NYSE: No mentions found.

AmEx AXP $44.1 +0.77 1.78% 9,800,505 NYSE: No mentions found.

Bank of Am. BAC $17.07 -0.09 0.52% 177,921,430 NYSE: JPMorgan JPM $41.69 +0.14 0.34% 47,659,368 NYSE: WSJ pC3 "One Worry in Fidelity Nat'l Deal" by Peter Lattman, Gina Chon, Anupreeta Das says players in the pending takeover of fidelity are watching to see if Warburg Pincus will back a buyout of it. Blackstone are typing to buy it after it was initially working with JPMorgan and Bank of America for deal financing but has added at least 4 other banks.

Boeing BA $72.87 +1.45 2.03% 6,329,557 NYSE: No mentions found.

Caterpillar CAT $68.15 +2.08 3.15% 7,789,187 NYSE: WSJ pC5 "IBM, Up 4.6%, Lifts Blue Chips" by Donna Yesalavich, Brendan Conway says stocks climbed as a strong earnings forecast from IBM lifted the tech sector, while firms that benefit from global growth, including DuPont and Caterpillar, rose after reports of better than expected economic growth in the euro zone. Under Good news IBM is charted saying CEO Samuel Palmisano at its annual meeting said earnings would double to at least $20 a share by '15 on moves in softwre, emerging markets.

Chevron CVX $80.06 +0.36 0.45% 9,257,182 NYSE: No mentions found.

Cisco CSCO $26.74 +0.78 3% 63,578,170 NASDAQ-GS: WSJ pB2 "Tech Rebound Lifts Cisco'sNet 63%" by Don Clark, NYT pB7 "Cisco Sales Climb, Beating Estimates" by Bloomberg, USA Today p3B "Cisco earnings rocket by 63%" by Jon Swartz say this good 3Qtr report shows the economic recovery gave customers confidence to purchase big ticket items from the world's largest maker of computer networking gear. Earnings for 3Qtr were up to $2.2 bil or 37 cents a share, up from $1.4 bil or 23 cents a year earlier. Rev. was $10.4 bil up 27% from $8.l2 bil a year ago.

Coke KO $54.02 +0.41 0.76% 11,712,646 NYSE: No mentions found.

Disney DIS $35.13 -0.63 1.76% 25,532,402 NYSE: NYT pB3 "disney Sells a Franchise Taht Mothers Didn't Like" by Brian Stelter, Brooks Barnes< "WSJ pB8 "Power Ranges come Back Home to Saban From Disney" by Shira Ovide say Haim Saban, the media investor who helped spark the US crazy for Poer Rangers in the '90's bought them back from Disney and will relicense them to Nickelodeon. Moms didn't like them due to their hand to hand combat.

NYT pB3 "Club Penguin Misses Goals, Giving Disney a Half Price Deal" by Brooks Barnes says Club Pnguin, the subscription based online community bought by Dis in '07, didn't meet profit targets that were tied to $350 mil in payouts so the $700 mil purchase price gets halved.

DuPont DD $39.26 +1.16 3.04% 10,348,122 NYSE: WSJ pC5 "IBM, Up 4.6%, Lifts Blue Chips" by Donna Yesalavich, Brendan Conway says stocks climbed as a strong earnings forecast from IBM lifted the tech sector, while firms that benefit from global growth, including DuPont and Caterpillar, rose after reports of better than expected economic growth in the euro zone. Under Good news IBM is charted saying CEO Samuel Palmisano at its annual meeting said earnings would double to at least $20 a share by '15 on moves in softwre, emerging markets.

Exxon XOM $64.91 +0.45 0.7% 25,374,648 NYSE: No mentions found.

GE $18.44 +0.44 2.44% 67,815,720 NYSE: No mentions found.

Hewlett-Packard HPQ $49.56 +1.14 2.35% 17,679,458 NYSE: No mentions found.

Home Depot HD $35.89 +0.26 0.73% 19,090,401 NYSE: No mentions found.

Intel INTC $23.09 +0.81 3.64% 83,222,998 NASDAQ-GS: USA Today p4B "UK, Spain promises boost US Stocks" by Bloomberg says stocks advanced Wed after pledges from the UK and Spain to shrink their budget deficits allayed concern that the European debt crisis will curtail global growth. IBM was the biggest gainer in the S&P 500 after predicting earnings per share may double by '15, thanks to cost cuts and customer demand. Intel gained 81 cents after forecasting an increase in gross profit margins.

WSJ pC1 "With 148 Point Gain, Dow Erases last Week" by Peter Mckay says tech stocks propelled the Dow higher on Wed, helping it reclaim last wee's lost ground. IBM issued an upbeat profit forecast for coming years, and reports said European giat software firm SAP would buy database make Sybase. Intel helped drive tech prices higher after saying that sales of chips would double over the next few years.

WSJ pC5 "IBM, Up 4.6%, Lifts Blue Chips" by Donna Yesalavich, Brendan Conway says stocks climbed as a strong earnings forecast from IBM lifted the tech sector, while firms that benefit from global growth, including DuPont and Caterpillar, rose after reports of better than expected economic growth in the euro zone. Under Good news IBM is charted saying CEO Samuel Palmisano at its annual meeting said earnings would double to at least $20 a share by '15 on moves in softwre, emerging markets.

IBM $132.68 +5.79 4.56% 16,610,524 NYSE: WSJ pB1 "Reboot: IBM Turns to Software" by Spencer E. Ante, Fin Times p16 "IBM sets out bold buying strategy" by David Geles, Chris Nuttall says IBM will transform itself to stay ahead of the tech indsutry's fast chaing profit curve. Its top priority, which famously dumped its PCbiz in '04, to focus on consulting and services is software. Also, it will spend $20 bil on acquisitions over the next 5 years.

USA Today p4B "UK, Spain promises boost US Stocks" by Bloomberg says stocks advanced Wed after pledges from the UK and Spain to shrink their budget deficits allayed concern that the European debt crisis will curtail global growth. IBM was the biggest gainer in the S&P 500 after predicting earnings per share may double by '15, thanks to cost cuts and customer demand. Intel gained 81 cents after forecasting an increase in gross profit margins.

WSJ pC5 "IBM, Up 4.6%, Lifts Blue Chips" by Donna Yesalavich, Brendan Conway says stocks climbed as a strong earnings forecast from IBM lifted the tech sector, while firms that benefit from global growth, including DuPont and Caterpillar, rose after reports of better than expected economic growth in the euro zone. Under Good news IBM is charted saying CEO Samuel Palmisano at its annual meeting said earnings would double to at least $20 a share by '15 on moves in software, emerging markets.

WSJ pC1 "With 148 Point Gain, Dow Erases last Week" by Peter Mckay says tech stocks propelled the Dow higher on Wed, helping it reclaim last wee's lost ground. IBM issued an upbeat profit forecast for coming years, and reports said European giat software firm SAP would buy database make Sybase. Intel helped drive tech prices higher after saying that sales of chips would double over the next few years.

JPMorgan JPM $41.69 +0.14 0.34% 47,659,368 NYSE: WSJ pC3 "One Worry in Fidelity Nat'l Deal" by Peter Lattman, Gina Chon, Anupreeta Das says players in the pending takeover of fidelity are watching to see if Warburg Pincus will back a buyout of it. Blackstone are typing to buy it after it was initially working with JPMorgan and Bank of America for deal financing but has added at least 4 other banks.

Johnson & John JNJ $64.9 +0.23 0.36% 11,019,459 NYSE: No mentions found.

KFT $30.4 +0.03 0.1% 10,428,047 NYSE: No mentions found.

McDonald's MCD $70.67 +0.19 0.27% 5,655,256 NYSE: No mentions found.

Merck MRK $33.64 +0.13 0.39% 19,085,637 NYSE: Fin Times p24 "Dow strengthens as investors regain their composure" by Masa Serdarevic says US stock prices climbed steadily higher yesterday as investors took comfort in signs of receding European sovereign debt risk following the resolution of the UK election & Spain's announcement of a new austerity plan. Pharma group Merck was 0.4% higher afer its annual research and dev briefing day.

Microsoft MSFT $29.44 +0.56 1.94% 47,082,838 NASDAQ-GS: WSJ pB7 "Office heads Into the Clouds" by Nick Wingfield says it released new software amid cheap online alternative from Google as it is selling its newest version of Office 2010. It adds Web friendly features to a collection of software products that accounted for nearly 60% of its operating profit last year. The new release includes veriosns of the Wrod, Excel and other Office apps that run inside Web browsers without having to install the programs on their machines, and allows people to edit cos in collaboration with other users.

Pfizer PFE $16.9 -0.11 0.65% 53,211,787 NYSE: I missed a story in yesterday's NYT about how Pfizer is selling one of its NYC buildings just a few years after the City of New York gave it a big tax break not to move out of Manhattan.

Procter & Gamble PG $63.02 -0.65 1.04% 10,858,440 NYSE: No mentions found.

MMM $86.44 -1.40 1.65% 3,430,953 NYSE: No mentions found.

Travelers TRV $50.19 -0.41 0.82% 5,782,052 NYSE: No mentions found.

United Tech UTX $73.15 -0.02 0.03% 5,067,183 NYSE: No mentions found.

Verizon VZ $28.7 -0.30 1.06% 19,403,571 Dual Listed: WSJ pB7 "Verizon Wireless in TalksWith Rural Firms" by Niraj Sheth says it is in talks with a number of rural telephone carriers to license its wireless spectrum, helping to bing faste wireless broadband service to remote areas of the US.

WalMart WMT $52.48 -0.02 0.04% 13,576,558 NYSE: USA Today p3B "Walmart to give food banks $2 bil over 5 years" by AP says it is doubling its annual rate of giving as the number of Americans receiving food stamps has risen to 1 in 8.

WSJ pB4 by AP, AJC pA16 "Walmart settles suit over Cali workers' pay" say it will pay $86 mil to settle a lawsuit alleging it owes workers vacation pay and other wages.

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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