5/21/10 Fri. pm Dow Closes 10,193.39 up 125.38 or 1.25%

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Post No. 443. 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.

The Dow Jones Industrial Average closed Friday at 10,193.39 up 125.38 or 1.25% from Thurday's close of 10,068.01. For the week the Dow is down 426.77 or 4.02% from last Friday's close of 10,620.16. Of the 30 Dow Companies: 2 gained and 2 (AT&t & Microsoft) declined. The biggest gainer dollar-wise and percentage-wise w8as JPMorgan JPM $40.05 +2.22 5.87% 88,011,489 NYSE. The biggest decliner dollar-wise and percentage-wise was Microsoft MSFT $26.84 -0.27 1% 116,340,960 NASDAQ-GS.

As of the open of the market Friday, 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 14.64 down from Thursday's (year ago it was 41.68) the P/E estimate is 13.10 unchanged from Thursday's 13.10 (year ago it was 24.03) and the current dividend yield is 2.74 up from Thursday's 2.62 (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 1,348.78 up 16.59 from Thursday's closing numerator of 1,332.19. 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 16.59 for Friday by the divisor (0.132319125) you get the increase in Thursday's Dow of 125.38. 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 $44.96 up 0.55 from Thursday's Dow Jones Industrial Average average closing price of $44.41. The median closing price of Friday's Dow Jones Industrial Average was 39.94. The lowest volume was 3M MMM $80.7 +1.12 1.41% 6,440,348 NYSE and the highest volume again was Bank of America BAC $15.99 +$39.82 1.20 3.11% 18,393,310 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 made $1,647.99 ($134,877.99 - $133,230).

Market Watch Fri. 5/21/10 4:14 p.m. by Laura Mandaro says U.S. stocks Friday made a late-session sprint higher, capping a losing week on a bright note, after a choppy session colored by the euro's moves and bank stocks' reaction to reform legislation. The Dow Jones Industrial Average (DJIA 10,193, +125.38, +1.25%) added 125.38 points, or 1.3%, to 10,193.39, with a 5.9% gain in J.P. Morgan Chase & Co. (JPM 40.00, -0.05, -0.13%) leading the index higher. The S&P 500 (SPX 1,088, +16.10, +1.50%) added 16.1 points, or 1.5%, to 1,087.69, with a more than 3% surge in financials leading all industry groups higher. The Nasdaq Composite (DJC 3,498, +45.86, +1.33%) added 25 points, or 1.1%, to 2,229.04. For the week, however, the Dow lost 4%, the S&P 500 fell 4.2% and the Nasdaq slid 5%.

Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market

AT&T T $24.85 -0.11 0.44% 53,326,881 NYSE
Alcoa AA $11.35 +0.28 2.53% 43,344,755 NYSE
AmerEx $39.82 +$39.82 1.20 3.11% 18,393,310 NYSE
Bank of Am BAC $15.99 +$39.82 1.20 3.11% 18,393,310 NYSE
Boeing BA $64.56 +$39.82 1.20 3.11% 18,393,310 NYSE
Caterpillar CAT $60.09 +$39.82 1.20 3.11% 18,393,310 NYSE
Chevron CVX $74.48 +0.88 1.2% 15,703,644 NYSE
CSCO $23.46 +0.15 0.64% 87,576,536 NASDAQ-GS
Coke KO $51.59 +0.05 0.1% 16,894,642 NYSE
DuPont DD $36.1 +0.39 1.09% 12,361,892 NYSE
Disney DIS $32.87 +0.88 2.75% 19,945,287 NYSE
Exxon XOM $60.88 +0.55 0.91% 52,198,111 NYSE
GE $16.42 +0.16 0.98% 145,266,336 NYSE
Hewlett-Packard HPQ $46.58 +0.63 1.37% 27,587,158 NYSE
Home Depot HD $33.02 +0.13 0.4% 35,821,251 NYSE
Intel INTC $20.9075 +0.1175 0.57% 107,113,722 NASDAQ-GS
IBM $125.42 +1.62 1.31% 12,529,120 NYSE
JPMorgan JPM $40.05 +2.22 5.87% 88,011,489 NYSE
Johnson & Johnson JNJ $60.88 +0.33 0.55% 21,552,736 NYSE
Kraft KFT $29.69 +0.56 1.92% 17,603,974 NYSE
McDonalds MCD $67.86 +0.20 0.3% 12,506,077 NYSE
MRK $32.04 +0.22 0.69% 25,176,443 NYSE
Microsoft MSFT $26.84 -0.27 1% 116,340,960 NASDAQ-GS
Pfizer PFE $15.4 +0.17 1.12% 94,535,478 NYSE
Procter & Gamble PG $61.85 0.24 0.39% 22,915,652 NYSE
3M MMM $80.7 +1.12 1.41% 6,440,348 NYSE
Travelers TRV $49.23 +0.81 1.67% 8,261,055 NYSE
United Tec UTX $66.44 +0.01 0.02% 10,589,777 NYSE
Verizon VZ $27.96 0+.20 0.72% 34,337,203 Dual Listed
WalMart WMT $51.37 +0.07 0.14% 24,350,256 NYSE
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The following are excerpts from Friday morning's Blog.

A read of Friday'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 Thursday's stock prices and related data.

Dow: The Dow Jones Industrial Average closed Thursday at 10,068.01 down 376.36 or 3.6% from Tuesday's close of 10,444.37. For the year the Dow is down 3.45%. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was was IBM $123.8 -5.06 3.93% 13,175,279 and percentage-wise was Bank of Am BAC $15.3 -1.01 6.19% 299,740,629 NYSE.

WSJ pA1 lead story "Slowdown Fear Hits Market' by Tom Lauricella says new worries about the health of the global economy flared Thurs driving US stocks to their first official correction since the bull makret began last Mar, rolling credit markets and causing big swings in currencies.

WSJ pC6 "BofA, GE And Alcoa Tumble" by Donna Yesalavich says worries over the potential impact of the euro zone on the global economy sent US stocks tumbling into the first correction of the bull market that began in Mar '09. Bank of america, Alcoa and GE were among the stocks caught in the market's downdraft. GE is charted under "Bad News" saying Mitsubishi Heavy Industries filed antitrust and patent infringement suits. Bank of America fell 6.2% as the Dow's worst performer while the fin'l sector was hurt by the prospect of a fin'l regulatory overhaul bill clearing the US Senate, JPMorgan dropped 3.9%.

WSJ pC1 A collapse of the Pro Growth Trade" by Susan Pulliam, Mark Gongloff saysthe unwinding of a highly leveraged trading strategy embraced by hedge funds contributed to the global market selloff on Thurs. The strategy, known as the pro growth trade, was based on a view that global economies would recover strongly and included bets that commodities, high yielding currencies and stocks wold keep rising, while safer investments such as Treasurys would fall.

Fin Times p22 "Equities tumble amid broad flight to safety" by Dave Shellock saysinvestor confidence suffered a sharp deterioration yesterday as fears aboutt he potential impact of Europe's debt crisis on the global economy intensified.

As of the open of the market Friday, 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 14.64 down from Thursday's (year ago it was 41.68) the P/E estimate is 13.10 unchanged from Thursday's 13.10 (year ago it was 24.03) and the current dividend yield is 2.74 up from Thursday's 2.62 (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.

Thursday's Dow Jones Industrial Average closing numerator was 1,332.19 down 49.80 from Wednesday's closing numerator of 1,381.99. 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 49.80 for Thursday by the divisor (0.132319125) you get the decrease in Thursday's Dow of 376.36. A $1 change in the price of any DJIA stock = a 7.56 change in the average.

NYT pB1 "Stocks Plunge on Fears of a Spreading European Crisis" by Graham Bowlely, Christine Hauser, USA Today p1B "Investor fears ignite selloff" by Adam Shell say its an official stock marekt correction as the stock market, for the first time since the bull market began in Mar '09, has closed 10% below its peak, hit just 4 weeks ago on 4/23. It's down 12% and all the major US indexes are now in correction territory, including the Dow Jones indsutrial average after its 376 point plunge.

USA Today p4B "Losses slam stocks across the board" Bloomberg says stocks plunger turs with Caterpillar helping lead industrial shares lower. Conoco-Phillips and ExxonMobil retreated with oil prices. GE dropped as WalMart Stores recalled 900,000 GE branded coffee makers after reports the appliances burned.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was $44.41 down 1.66 from Wednesday's Dow Jones Industrial Average average closing price of $46.07. The median closing price of Thursday's Dow Jones Industrial Average was 38.23 down 2.55 from Wednesday's median closing price of $40.78. The lowest volume was Travelers TRV $$48.42 -1.72 3.43% 7,924,484 NYSE and the highest volume again was Bank of America BAC $15.3 -1.01 6.19% 299,740,629 NYSE.

If Thursday 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 $4,980 ($138,210 - $133,230).

Market Watch Tues. 5/20/10 4:17 p.m. by Laura Mandaro says U.S. stocks ended sharply lower Thursday, relinquishing a mild afternoon recovery, to finish near their session lows and in correction territory. Worries that a chill on European growth, and a rising dollar, could halt the global recovery and rebound in commodities pulled down stocks with heavy international exposure. The Dow Jones Industrial Average (DJIA 10,068, -376.36, -3.60%) fell 376.36 points, or 3.6%, to 10,068.01, with all 30 of its components lower. The drop was worse than the triple-digit loss the Dow suffered May 6. The S&P 500 (SPX 1,072, -43.46, -3.90%) lost 43.46 points, or 3.9%, to 1,071.59, led by financials, industrials and energy. The Nasdaq Composite (COMP 2,204, -94.36, -4.11%) fell 94.36, or 4.1%, to 2,204.01. All three indexes ended up more than 10% lower than their 52-week highs.

AT&T T $24.96 -0.61 2.39% 41,188,483 NYSE: WSJ pB2 "FCC: Less Rivalry in Wireless" by Amy Schatz says fed regulators said the wireless telecom market is more concentrated, laying the groundwork for new regs that could aid smaller cell phone carriers like Sprint Next and T-Mobile. The nation's 2 largest providers, AT&t and Verizon Wireless, have 60% of subscribers and revenue, and continue to gain share from rivals.

Alcoa AA $11.07 -0.71 6.03% 59,727,466 NYSE: WSJ pC6 "BofA, GE And Alcoa Tumble" by Donna Yesalavich says worries over the potential impact of the euro zone on the global economy sent US stocks tumbling intothe first correction of the bull market that began in Mar '09. Bank of america, Alcoa and GE were among the stocks caught in the market's downdraft. GE is charted under "Bad News" saying Mitsubishi Heavy Industries filed antitrust and patent infringement suits. Bank of America fell 6.2% as the Dow's worst performer while the fin'l sector was hurt by the prospect of a fin'l regulatory overhaul bill clearing the US Senate, JPMorgan dropped 3.9%

Amex AXP $38.62 -1.55 3.86% 19,524,817 NYSE: No mentions found.

Bank of Am BAC $15.3 -1.01 6.19% 299,740,629 NYSE: WSJ pC6 "BofA, GE And Alcoa Tumble" by Donna Yesalavich says worries over the potential impact of the euro zone on the global economy sent US stocks tumbling intothe first correction of the bull market that began in Mar '09. Bank of america, Alcoa and GE were among the stocks caught in the market's downdraft. GE is charted under "Bad News" saying Mitsubishi Heavy Industries filed antitrust and patent infringement suits. Bank of America fell 6.2% as the Dow's worst performer while the fin'l sector was hurt by the prospect of a fin'l regulatory overhaul bill clearing the US Senate, JPMorgan dropped 3.9%

Boeing BA $63 -3.21 4.85% 10,897,715 NYSE: WSJ pB3 "Boeing Weights Boosting Output" by Doug Cameron says Boeing said that extra costs from delayed comm'l aircraft programs won't be finalized until later this year, but it is looking o boosgt production of its best selling models amid improving airline industry and finance concerns. Boeing faces billions of dollars in payments to compensate airlines and reimburse suppliers int he wake of a 2 1/2 delay in the production of the 787 Dreamliner.

Caterpillar CAT $58.67 -2.77 4.51% 22,796,083 NYSE: No mentions found.

Chevron CVX $73.6 -3 3.92% 17,879,341 NYSE: No mentions found.

CSCO $23.31 -0.95 3.92% 97,225,871 NASDAQ-GS: No mentions found.

Coke KO $51.54 -1.58 2.97% 14,600,205 NYSE: No mentions found.

DuPont DD $35.71 -1.11 3.01% 13,036,873 NYSE: No mentions found.

Disney DIS $31.99 -1.40 4.19% 26,616,325 NYSE: No mentions found.

Exxon XOM $60.33 -2.12 3.39% 57,156,210 NYSE: No mentions found.

GE $16.26 -1 5.79% 153,762,843 NYSE: Fin Times p16 "Mitsubishi in antitrust lawsuit against GE" by Jeremy Lemer, WSJ pB3 "Mitsubishi Fires Back at GE in Wind Turbine Dispute" say Mitsubishi Heavy Industires is accusing GE of scheming to monopolize the US market for variable speed wind turbines, citng among things "sham" litigation filed by GE to stymie competition.

WSJ pC6 "BofA, GE And Alcoa Tumble" by Donna Yesalavich says worries over the potential impact of the euro zone on the global economy sent US stocks tumbling intothe first correction of the bull market that began in Mar '09. Bank of america, Alcoa and GE were among the stocks caught in the market's downdraft. GE is charted under "Bad News" saying Mitsubishi Heavy Industries filed antitrust and patent infringement suits. Bank of America fell 6.2% as the Dow's worst performer while the fin'l sector was hurt by the prospect of a fin'l regulatory overhaul bill clearing the US Senate, JPMorgan dropped 3.9%

Hewlett-Packard HPQ $45.95 -1.05 2.23% 33,161,971 NYSE: No mentions found.

Home Depot HD $32.89 -1.49 4.33% 29,524,667 NYSE: No mentions found.

Intel INTC $20.79 -0.81 3.75% 106,360,893 NASDAQ-GS: No mentions found.

IBM $123.8 -5.06 3.93% 13,175,279 NYSE: No mentions found.

JPMorgan JPM $37.83 -1.55 3.94% 76,425,116 NYSE: WSJ pC6 "BofA, GE And Alcoa Tumble" by Donna Yesalavich says worries over the potential impact of the euro zone on the global economy sent US stocks tumbling intothe first correction of the bull market that began in Mar '09. Bank of america, Alcoa and GE were among the stocks caught in the market's downdraft. GE is charted under "Bad News" saying Mitsubishi Heavy Industries filed antitrust and patent infringement suits. Bank of America fell 6.2% as the Dow's worst performer while the fin'l sector was hurt by the prospect of a fin'l regulatory overhaul bill clearing the US Senate, JPMorgan dropped 3.9%

Johnson & John JNJ $60.55 -1.67 2.68% 23,965,450 NYSE: No mentions found.

KFT $29.13 -1.16 3.83% 26,853,179 NYSE: No mentions found.

McDonalds MCD $67.66 -1.74 2.51% 13,562,326 NYSE: No mentions found.

MRK $31.82 -0.80 2.45% 24,692,993 NYSE: No mentions found.

Microsoft MSFT $27.11 -1.13 4% 87,877,308 NASDAQ-GS: WSJ pB1 "Dell Says Firms Are Buying PCs Again" by Justin Scheck says a resurgence in corp spending buoyed sales for Dell. Competition has forced Dell and other firms that make PCs based on Microsoft software to lower their computer prices to an average laptop cost of $28 in March down from $565 a year earlier.

Pfizer PFE $15.23 -0.59 3.73% 112,140,293 NYSE: No mentions found.

Procter & Gamble PG $61.61 -1.61 2.55% 23,360,535 NYSE: No mentions found.

3M MMM $79.58 -2.96 3.59% 8,747,518 NYSE: No mentions found.

Travelers TRV $48.42 -1.72 3.43% 7,924,484 NYSE: No mentions found.

United Tech UTX $66.43 -2.92 4.21% 10,895,513 NYSE: No mentions found.

Verizon VZ $27.76 -0.75 2.63% 29,514,937 Dual Listed: WSJ pB2 "FCC: Less Rivalry in Wireless" by Amy Schatz says fed regulators said the wireless telecom market is more concentrated, laying the groundwork for new regs that could aid smaller cell phone carriers like Sprint Next and T-Mobile. The nation's 2 largest providers, AT&t and Verizon Wireless, have 60% of subscribers and revenue, and continue to gain share from rivals.

Walmart WMT $51.3 -1.74 3.28% 27,232,346 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