5/20/10 Thurs. am P & G To Sell Brands Online

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Post No. 440. The following is brought to you by Intellivest Securities Research, Inc. Toward 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.

Dow: The Dow Jones Industrial Average closed Wednesday at 10,444.37 down 66.58 or 1.63% from Tuesday's close of 10,625.83. For the year the Dow is up 0.16%. Of the 30 Dow Companies: 12 gained and 18 declined. The biggest gainer dollar-wise was JPMorgan JPM $39.38 +0.36 0.92% 64,162,316 NYSE and Bank of America and percentage-wise was Bank of Am BAC $16.31 +0.36 2.26% 259,076,120. The biggest decliner dollar-wise was and percentage-wise was Caterpillar CAT $61.44 -1.75 2.77% 18,512,786 NYSE.

WSJ pC6 "Caterpillar and 3M Hurt Dow" by Donna Yesalavich says stocks fell led by industrial firms such as Caterpillar, Boeing and 3M as investors worried that the weak euro could reduce profits of firms doing business in the euro zone. Caterpillar was charted under Bad News saying its revenue could be hurt by a weaker euro. The Dow's fin'l stocks rose as the Senate prepared to vote on whetehr to end the debate on legislation overhauling US fin'l regulation. After the market closed, the motion to cut off debate fell short of the 60 votes needed. Bank of America ended with an increase of 2.3% while JPMorgan rose 0.9%. Hewlett-Packard gained 0.5% as fiscal 2Qtr profit grew 28% on higher world wide sales and profit growth in its core personal computer business.

WSJ pC1 "Stocks Swoon Stokes Correction Talk" by Peter McKays ays the stock market's recent swoon, fueled by worries about the fallout from Europe's credit crisis has pushed major indexes back within reach of a 10% correction. The Dow ended Wed down 66.58 off 6.8% of its high.

Fin Times p4 "Fears for Europe's growth prospects dent US equities" by Telis Demos says US stock markets reversed opening gains as traders sold shares tied to the global economy, ignoring the usually bullish signal of a stronger euro. Industrial firms broadly declined.

NYT pB10 "Shares Fall on Germany's Moves to Restrict Trades" by Christine Hauser, David Jolly says stocks declined on Wed as a German measure meant to thwart speculators in the European debt markets revived concerns about the debt crisis in Europe.

USA Today p4B "Foreclosures, Europe fears add to slide" by Bloomberg says stocks fell for a second day Wed as Germany's ban on certain bearish investments and a jump in mortgage foreclosures to a record triggered a flight from stocks.
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 15.19 down from Wednesday's open of 15.36 (year ago it was 42.33) the P/E estimate is 13.10 unchanged from Wednesday's 13.10 (year ago it was 24.03) and the current dividend yield is 2.64 up from Wednesday's 2.62 (it was 3.64 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 1,381.99 down 8.81 from Tuesday's closing numerator of 1,390.80. 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 8.81 for Wednesday by the divisor (0.132319125) you get the decrease in Tuesday's Dow of 66.58. 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 $46.07 down 0.29 from Tuesday's Dow Jones Industrial Average average closing price of $46.36. The median closing price of Wednesday's Dow Jones Industrial Average was 40.78 up 1.35 from Tuesday's median closing price of $39.43. The lowest volume was Travelers TRV $50.14 +0.31 0.62% 5,171,008 NYSE and the highest volume again was Bank of America BAC $16.31 +0.36 2.26% 259,076,120 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 $869.94 ($139,079.94 - 138,210).

Market Watch Tues. 5/18/10 4:18 p.m. by Laura Mandaro says U.S. stocks ended a choppy trading session Wednesday with moderate losses, but well off session lows, as gains among financial stocks offset a pullback in stocks of industrial companies vulnerable to the rising U.S. dollar. The Dow Jones Industrial Average (DJIA 10,444, -66.58, -0.63%) fell 66.58 points, or 0.6%, to 10,444.37, with losses led by Caterpillar, Inc. (CAT 61.45, +0.01, +0.02%) , Boeing Co.(BA 65.98, -0.23, -0.35%) and United Technologies Corp. (UTX 69.37, +0.02, +0.03%) . Earlier it had fallen 186 points. The S&P 500 (SPX 1,115, -5.75, -0.51%) fell 5.75 points, or 0.5%, to 1,115.05. The Nasdaq Composite (COMP 2,298, -18.89, -0.82%) slid 18.89 points, or 0.8%, to 2,298.37. Reaction to European events, including a recent ban on short-selling in certain securities by Germany and a sharp drop in the euro, dominated trading for much of the session.

AT&T T $25.57 -0.02 0.08% 30,450,797 NYSE: WSJ pB7 "Univision Focuses on Original Shows' by Amy Chozick, Suzanne Vranica lists the top 10 advertisers in the US in '09 in millions with Ingles Sin Barreras 1 at $92.7, 2nd is Mconalds at 81.4, 3rd is Verizon at 68.1, Walmart is 4th at 58 and At&T is 8th at 52.2 million.

Alcoa AA $11.78 -0.04 0.34% 44,542,843 NYSE: No mentions found.

Amex AXP $40.17 +0.33 0.83% 15,517,082 NYSE: No mentions found.

Bank of Am BAC $16.31 +0.36 2.26% 259,076,120 NYSE: WSJ pC14 "overheard" says JPMorgan's Jamie Dimon was grilled at JPM's annual meeting about a possible downgrade to his status in Washington saying that he is no longer Obama's favorite banker and has been replaced by Bank of America's CEO Brian Moynihan.

WSJ pC3 "BofA to Sell Stake In Bank from Brazil" by Rogerio Jelmayer says Bankof America will sell its stake in Brazil's largest private bank, Itau Unibanco in a deal valued at $4.48 bil.

Fin Times p14 "Lex" says Bank of America is selling it stake in Itau Unibanco to boost equity by $3 bil as it promised the US treasury last year.

WSJ pC6 "Caterpillar and 3M Hurt Dow" by Donna Yesalavich says stocks fell led by industrial firms such as Caterpillar, Boeing and 3M as investors worried that the weak euro could reduce profits of firms doing business in the euro zone. Caterpillar was charted under Bad News saying its revenue could be hurt by a weaker euro. The Dow's fin'l stocks rose as the Senate prepared to vote on whetehr to end the debate on legislation overhauling US fin'l regulation. After the market closed, the motion to cut off debate fell short of the 60 votes needed. Bank of America ended with an increase of 2.3% while JPMorgan rose 0.9%. Hewlett-Packard gained 0.5% as fiscal 2Qtr profit grew 28% on higher world wide sales and profit growth in its core personal computer business.

Boeing BA $66.21 -1.515 2.24% 9,907,588 NYSE: WSJ pC6 "Caterpillar and 3M Hurt Dow" by Donna Yesalavich says stocks fell led by industrial firms such as Caterpillar, Boeing and 3M as investors worried that the weak euro could reduce profits of firms doing business in the euro zone. Caterpillar was charted under Bad News saying its revenue could be hurt by a weaker euro. The Dow's fin'l stocks rose as the Senate prepared to vote on whetehr to end the debate on legislation overhauling US fin'l regulation. After the market closed, the motion to cut off debate fell short of the 60 votes needed. Bank of America ended with an increase of 2.3% while JPMorgan rose 0.9%. Hewlett-Packard gained 0.5% as fiscal 2Qtr profit grew 28% on higher world wide sales and profit growth in its core personal computer business.

Caterpillar CAT $61.44 -1.75 2.77% 18,512,786 NYSE: WSJ pC6 "Caterpillar and 3M Hurt Dow" by Donna Yesalavich says stocks fell led by industrial firms such as Caterpillar, Boeing and 3M as investors worried that the weak euro could reduce profits of firms doing business in the euro zone. Caterpillar was charted under Bad News saying its revenue could be hurt by a weaker euro. The Dow's fin'l stocks rose as the Senate prepared to vote on whether to end the debate on legislation overhauling US fin'l regulation. After the market closed, the motion to cut off debate fell short of the 60 votes needed. Bank of America ended with an increase of 2.3% while JPMorgan rose 0.9%. Hewlett-Packard gained 0.5% as fiscal 2Qtr profit grew 28% on higher world wide sales and profit growth in its core personal computer business.

Chevron CVX $76.6 -0.2475 0.32% 10,666,150 NYSE: No mentions found.

CSCO $24.26 -0.1025 0.42% 62,008,922 NASDAQ-GS: No mentions found.

Coke KO $53.12 +0.02 0.04% 10,426,346 NYSE: No mentions found.

DuPont DD $36.82 -0.26 0.7% 8,319,102 NYSE: No mentions found.

Disney DIS $33.39 -0.34 1.01% 18,421,831 NYSE: No mentions found.

Exxon XOM $62.45 -0.34 0.54% 36,157,403 NYSE: WSJ pB4 "Exxon, BG, BP Eni Seek Stake in Indian Oil Block" says theya re seeking to buy a stake in an oil and gas block leased by Oil and Natural Gas Corp., India's flagship oil producer.

GE $17.26 +0.03 0.17% 133,603,422 NYSE: No mentions found.

Hewlett-Packard HPQ $47 +0.21 0.45% 32,139,927 NYSE: WSJ pC6 "Caterpillar and 3M Hurt Dow" by Donna Yesalavich says stocks fell led by industrial firms such as Caterpillar, Boeing and 3M as investors worried that the weak euro could reduce profits of firms doing business in the euro zone. Caterpillar was charted under Bad News saying its revenue could be hurt by a weaker euro. The Dow's fin'l stocks rose as the Senate prepared to vote on whether to end the debate on legislation overhauling US fin'l regulation. After the market closed, the motion to cut off debate fell short of the 60 votes needed. Bank of America ended with an increase of 2.3% while JPMorgan rose 0.9%. Hewlett-Packard gained 0.5% as fiscal 2Qtr profit grew 28% on higher world wide sales and profit growth in its core personal computer business.

Home Depot HD $34.38 -0.35 1.01% 26,991,767 NYSE: No mentions found.

Intel INTC $21.6 +0.17 0.79% 89,069,019 NASDAQ-GS: No mentions found.

IBM $128.86 -1.09 0.84% 8,558,069 NYSE: No mentions found.

JPMorgan JPM $39.38 +0.36 0.92% 64,162,316 NYSE: WSJ pC14 "overheard" says JPMorgan's Jamie Dimon was grilled at JPM's annual meeting about a possible downgrade to his status in Washington saying that he is no longer Obama's favorite banker and has been replaced by Bank of America's CEO Brian Moynihan.

WSJ pC3 "JP Morgan Steps Back From WaMu Tax Break" by Dan Fitzpatrick says JP Morgan is abandoning its demand for a $1.4 bil tax break and will take instead a bigger upfront of a WaMu bankruptcy settlement.

WSJ pC6 "Caterpillar and 3M Hurt Dow" by Donna Yesalavich says stocks fell led by industrial firms such as Caterpillar, Boeing and 3M as investors worried that the weak euro could reduce profits of firms doing business in the euro zone. Caterpillar was charted under Bad News saying its revenue could be hurt by a weaker euro. The Dow's fin'l stocks rose as the Senate prepared to vote on whether to end the debate on legislation overhauling US fin'l regulation. After the market closed, the motion to cut off debate fell short of the 60 votes needed. Bank of America ended with an increase of 2.3% while JPMorgan rose 0.9%. Hewlett-Packard gained 0.5% as fiscal 2Qtr profit grew 28% on higher world wide sales and profit growth in its core personal computer business.

Johnson & John JNJ $62.22 -0.75 1.19% 18,606,003 NYSE: No mentions found.

KFT $30.29 +0.26 0.87% 13,947,186 NYSE: No mentions found.

McDonalds MCD $69.4 -0.62 0.89% 7,708,981 NYSE: WSJ pB1 "Fast Food Joints Push Chicken as Beef Prices Hit new Highs" by Paul Ziobro says wary of losing customers, chains such as McDonalds and Burger King are absorbing the beef price increases and are trying to preserve margins by steering diners toward chicken & salads.

WSJ pB7 "Univision Focuses on Original Shows' by Amy Chozick, Suzanne Vranica lists the top 10 advertisers in the US in '09 in millions with Ingles Sin Barreras 1 at $92.7, 2nd is McDonalds at 81.4, 3rd is Verizon at 68.1, Walmart is 4th at 58 and At&T is 8th at 52.2 million.

MRK $32.62 -0.27 0.83% 21,011,444 NYSE: No mentions found.

MSFT $28.24 -0.3575 1.25% 61,289,107 NASDAQ-GS: No mentions found.

Pfizer PFE $15.82 +0.01 0.06% 80,993,458 NYSE: No mentions found.

Procter & GamblePG $63.22 +0.01 0.02% 15,813,540 NYSE: Fin Times p15 "P&G starts direct sale of brands online" by Jonathan Birchall says Procter & Gamble ahs started to sell brands direct to US consumers online for the first time, in a sign of how digital commerce is shaking up relations between retailers and their suppliers. The launch of their eStore site is part of its drive to increase its total onlince sales which last year was less than 1 of its 79 bil in revenues. The site will sell Pantene shampoo, Pampers baby products, Gillette razors and other brands.

MMM $82.54 1.48 -1.76% 6,370,106 NYSE: No mentions found.

Travelers TRV $50.14 +0.31 0.62% 5,171,008 NYSE: No mentions found.

United Tech UTX $69.35 -1.33 1.88% 8,427,099 NYSE: No mentions found.

Verizon VZ $28.51 +0.09 0.32% 23,655,209 Dual Listed: WSJ pB7 "Univision Focuses on Original Shows' by Amy Chozick, Suzanne Vranica lists the top 10 advertisers in the US in '09 in millions with Ingles Sin Barreras 1 at $92.7, 2nd is Mconalds at 81.4, 3rd is Verizon at 68.1, Walmart is 4th at 58 and At&T is 8th at 52.2 million.

WalMart WMT $53.04 -0.665 1.24% 20,260,654 NYSE: WSJ pB2 "Target is Cautious Amid Sharp Rise in Profit" by Ann Zimmerman, Karen Talley says Target was upbeat as it reported good profit and sales in its 1Qtr in sharp contrast to WalMart which on Tues reported its 4thconsecutive quarter of lower sales at its US stores.

WSJ pB7 "Univision Focuses on Original Shows' by Amy Chozick, Suzanne Vranica lists the top 10 advertisers in the US in '09 in millions with Ingles Sin Barreras 1 at $92.7, 2nd is McDonalds at 81.4, 3rd is Verizon at 68.1, Walmart is 4th at 58 and At&T is 8th at 52.2 million.
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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