Saturday, May 15, 2010

5/15/10 Sat. Hewlett-Packard to release 2Qtr Results on Tues.

The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.

Post No. 432. 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 Saturday'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 Friday's stock prices and related data.

Dow The Dow Jones Industrial Average closed Friday at 10,620.16 down 162.79 or 1.51% from Thursday's close of 10,782.95. For the week the Dow is up 239.73 or 2.3% from last Friday's close of 10,380.43. For the year the Dow Jones Industrial Average is up 1.84%. Of the 30 Dow Companies all 30 declined. The biggest decliner dollar-wise was and percentage-wise was American Express AXP $40.64 -2.17 5.07% 27,485,534 NYSE.

WSJ pB1 "A Wobbly 239.73 Pont Gain Week" by Peter McKay, Kristina Peterson says concern about Europe's ability to pull itself out of its debt crisis sent the euro reeling and roiled markets from stocks to commodities on Fri. But the stock market still finished with a sold gain on the week because of Mon's Europe bailout rally. Investors flocked to Treasurys and the dollar,which are generally considered among the safest investments.

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 15.52 down from Friday's open of 15.76 (year ago it was 41.54) the P/E estimate is 13.10 up from Friday's 12.84 (year ago it was 24.03) and the current dividend yield is 2.59 up from Friday'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.

Friday's Dow Jones Industrial Average closing numerator was 1,405.25 down 36.5 from Thursday's closing numerator of 1,441.75. 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 36.5 for Friday by the divisor (0.132319125) you get the decrease in Friday's Dow of 162.79. 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 $46.84 down 0.72 from Thursday's Dow Jones Industrial Average average closing price of $47.56. The median closing price of Thursday's Dow Jones Industrial Average was 40.26 down 1.55 from Thursday's median closing price of $41.81. The lowest volume was 3M MMM $86.68 -0.91 1.06% 4,138,399 NYSE and the highest volume again was Bank of America BAC $16.34 -0.53 3.14% 212,906,844 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 $2,160 ($ $142,680 - 140,520).

Market Watch Fri. 5/14/10 5:17 p.m. by Kristina Peterson says the U.S. stock market ended Friday with a hefty loss fueled by renewed worries about Europe's finances but still managed to end a turbulent week higher, helped by early enthusiasm over a large European bailout package. The Dow Jones Industrial Average (INDU 10,621, -162.34, -1.51%), which traded with a loss of more than 200 points through much of the afternoon, ended down 162.79 points, or 1.5%, at 10620.16, hurt by declines in all 30 components. The Nasdaq Composite (COMP 2,347, -47.51, -1.98%) slid 2%, and the S&P 500 (SPX 1,136, -21.75, -1.88%) was off 1.9%, hurt by selling in every sector. The Russell 2000 index of small-capitalization stocks, considered riskier because of their higher volatility and lower cash reserves, plunged 2.2%. The euro sank to its lowest level since October 2008, trading recently below $1.24, after new economic data showed core inflation in Spain turned negative in April. Deflation would make it harder for Spain to grow out of its debt woes. Some analysts questioned whether austerity measures announced this week in Spain and Portugal could lead to civil strife, and Deutsche Bank Chief Executive Josef Ackermann told German television Thursday evening that there are some doubts about Greece's ability to repay debt. Friday's plunge marked a sour ending to a week that began with hope as the European Union approved a nearly $1 trillion bailout for its most heavily indebted members. But as the week went along, traders focused more on the details of implementing those measures and the likelihood that, even in a best case, the EU's financial weaklings will face years of struggle to get on surer footing. The CBOE Market Volatility Index (VIX 31.24, +4.56, +17.09% , known as the market's "fear gauge," jumped 22%. With two hours of trading to go, 3.9 billion shares had changed hands in New York Stock Exchange composite trading. Early euphoria over that bailout package, which came in concert with the Federal Reserve and other central banks saying they would reestablish a foreign-exchange swaps program, helped push the Dow Jones Industrial Average up 405 points on Monday. For the week, the Dow rose 2.3%, the S&P 500 (SPX 1,136, -21.75, -1.88%) gained 2.2% and the Nasdaq Composite (COMP 2,347, -47.51, -1.98%) added 3.6%. On Friday, basic materials and energy stocks slid as a stronger dollar cut into buying power. Crude-oil prices slid $2.79 to a three-month low of $71.61 a barrel, and other raw materials weakened as prospects of the international economic recovery dimmed in the wake of austerity measures adopted in several European countries. United States Steel (X 52.63, -0.18, -0.34%) slid 5.7%, while AK Steel (AKS 15.41, -0.59, -3.69%) fell 3.7%. Titanium Metals Corp. (TIE 16.84, -0.57, -3.27%) shed 3.3%. Chemical companies, which tend to have more European exposure, sank. Dow Chemical Co. (DOW 27.31, -0.03, -0.11%) slid 5.9% and Eastman Chemical Co.(EMN 62.50, -0.28, -0.45%) fell 2.2%. Only three Dow components are left to report quarterly earnings, and if previous reports are any guide, the companies should have done well. On Capitol Hill, the Senate will be debating financial-reform legislation. Financials also weakened as investors flocked toward more defensive stocks. J.P. Morgan Chase (JPM 39.98, +0.09, +0.23%) slid 2.3%, while Citigroup (C 3.99, +0.01, +0.25%) fell 2.7%. For U.S. investors, especially those with memories of the Asian currency crisis of the late 1990s, the concern is that debt crises like Greece's will spread to other euro-zone members, weakening growth in a major market and hurting American financial companies with ties to European banks. Almost a week after the European Union outlined a nearly $1 trillion rescue package for Greece, some U.S. investors say they have lost confidence in the will of European nations to enact proposed austerity measures. The dollar strengthened against the euro, but slipped against the yen. The U.S. Dollar Index (DXY 86.10, +0.89, +1.04%), which tracks the dollar against a basket of six other currencies, surged 1% and investors swarmed to Treasurys. The 10-year note rose 22/32, pushing yield down to 3.457%. Meanwhile, gold futures edged higher. Financial stocks sank after the Senate voted to allow the Federal Reserve to regulate fees on debit card transactions. The measure will also allow retailers more leverage in negotiating with credit-card firms and banks over the fees for card transactions. Visa tumbled 9.9%, while MasterCard (MA 212.62, +0.17, +0.08%) fell 8.6% and Bank of America (BAC 16.39, +0.05, +0.31%) fell 3.1%. The Senate also approved a measure that would establish a federal credit-rating board that would act as a middleman between issuers seeking ratings and the rating agencies. Moody's declined 0.6%. In economic news, the Commerce Department said retail sales rose 0.4% in April, better than expected. However, some of that demand may have been driven by the government's home buyer tax credit, which expired at the end of last month. Building-material and garden-supply-store sales posted the largest gain of any category in April.
Offsetting the data, several retailers reporting earnings on Friday disappointed investors. Nordstrom (JWN 39.75, -0.01, -0.03%) slid 3.7% after its profit missed analyst estimates, while J.C. Penney (JCP 27.76, +0.22, +0.80%) shed 2.2% after its first-quarter earnings rose but its second-quarter and full-year outlook disappointed analysts. See more on Retail Stocks.

AT&T T $25.4 -0.34 1.32% 37,805,902 NYSE:

Alcoa AA $12.36 -0.44 3.44% 40,189,960 NYSE:

American Express AXP $40.64 -2.17 5.07% 27,485,534 NYSE: WSJ pB2 "Credit card Stocks Fall As Bank Overhaul Rises" by Kristina Peterson says stocks ank as concerns over European debt and the advance of fin'l overhaul legislation sent investors scuttling away from American Express, Visa and Mastercard.

Bank of America BAC $16.34 -0.53 3.14% 212,906,844 NYSE:

Boeing BA $69.82 -1.94 2.7% 7,954,557 NYSE:

Caterpillar CAT $64.88- 2.03 3.03% 9,939,773 NYSE:

Chevron CVX $77.83 -1.09 1.38% 13,607,726 NYSE:

CSCO $24.94 -0.59 2.31% 82,159,544 NASDAQ-GS:

Coke KO $53.34 -0.15 0.28% 12,934,069 NYSE:

Disney DIS $34.06 -0.69 1.99% 16,945,117 NYSE:

DuPont DD $37.65- 0.94 2.44% 7,899,144 NYSE:

Exxon XOM $63.6 -1.14 1.76% 38,815,331 NYSE:

GE $17.64 -0.41 2.27% 83,715,625 NYSE:

Hewlett-Packard HPQ $47.43 -1.29 2.65% 25,960,819 NYSE: WSJ pB8 "Crystal Ball" says helwett-Packard releases its 2Qtr earnings on Tues. For the prior qtr, HPQ posted eanrings of 93 cents pe share.

Home Depot HD $35.2-0.07 0.2% 22,621,282 NYSE:

Intel INTC $21.89 -0.61 2.71% 83,526,108 NASDAQ-GS:

IBM $131.19 -0.29 0.22% 9,920,567 NYSE:

JPMorgan JPM $39.89 -0.92 2.25% 60,719,888 NYSE: WSJ pB
4 "Possible Vlocker Rule Fogs RBS Sempra Sale"by Gina Chon, Liam Pleven says JPMorgan and Deustshe have removed themselves from the running for RBS Sempra's energy trading & retail energy supplier businesses because of fears of a Volcker Rule that would force banks to exit from proprietary trading businesses.

Johnson & Johnson JNJ $63.97 -0.70 1.08% 12,505,046 NYSE:

Kraft KFT $30.03 -0.28 0.92% 16,108,608 NYSE:

McDoanld's MCD $69.59 -0.91 1.29% 9,112,269 NYSE:

MRK $32.88 -0.43 1.29% 21,105,039 NYSE:

MSFT $28.93 -0.31 1.06% 63,333,959 NASDAQ-GS:

Pfizer PFE $16.2 -0.36 2.17% 62,673,216 NYSE:

Procter & Gamble PG $62.54 -0.21 0.33% 14,651,577 NYSE:

3M MMM $84.68 -0.91 1.06% 4,138,399 NYSE:

Travelers TRV $50.12 -0.05 0.1% 6,948,448 NYSE:

United Tech UTX $71.58 -1.28 1.76% 6,648,659 NYSE:

Verizon VZ $28.51 -0.18 0.63% 23,075,384 Dual Listed:

WalMart WMT $52.12 -0.28 0.53% 18,653,215 NYSE:

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