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Post No. 477. 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 6/4/10 and an update of the Dow 30 component's SEC filings as of 6/4/10.
A read of Friday's Wall St. Journal, Financial Times, New York Times & USA Today 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 Thuraday's stock prices and related data.
The Dow Jones Industrial Average closed Thursday at 10,172.53 or 273.28 or 2.76% from Wednesday's close of 9,899.25. For the year the Dow is down 2.45%. Of the 30 Dow Companies: 29 gained and only Cisco declined. The biggest gainer dollar-wise was IBM $127.68 +3.78 3.05% 7,216,603 NYSE and percentage-wise was Caterpillar CAT $59.95 3+.14 5.53% 9,540,635 NYSE. The only decliner dollar-wise and percentage-wise was Cisco CSCO $22.7725 -0.0075 0.03% 97,288,199 NASDAQ-GS.
WSJ pC1 "Dow Rallies 273.28, Back Over 10000" by Peter McKay says investors ignored recent jitters about global growth, oil spills and sovereign debt dfauls and made big bets on stocks and oil, while defensive investments like the dollar, Treasurys and gold fell.
WSJ pC6 "Caterpillar and Amex Lead Gains" by Donna Yesalavich says stocks rallied broadl ywith Caterpillar, American Express among the gainers, as economic data from the US and China and comments from European officials reassured investors about the global economy. Chevron is charted under good news as crude oil futures settled above $75 a barrel after an increase in a forecast of global oil demand for '10.
Fin Times p22 "Positive economic daa boost investor hopes for recovery" by Masa Serdarevic says US stocks moved sharply higher yesterday as a flurry of int'l economic data gave traders comfort that the recovery remains on track for now in spite of the fiscal problems int he eurozone and monetary tightening in Asia.
NYT pB7 "Enthusiasm for Economy Sends markets Surging" by Susanna Kim says the stock market roared back to life on Thurs, driving the Dow above 10000, as investors latched on to hopes that maybe the economic scene was not quite as bleak as it seemed.
USA p4B "Stocks soar on global economic optimism" by Bloomberg says stocks rallied Thurs. as reports from China, Japan and Australia boosted optimism about the global economy.
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 14.79 up from Thursday's 14.39 (year ago it was 12.78) the P/E estimate is 12.36 unchanged from Thursday's 12.36 (year ago it was 25.00) and the current dividend yield is 2.72 down from Thursday's 2.80 (it was 3.31 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 1,346.02 up 36.16 from Wednesday's closing numerator of 1,309.86. 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 36.16 for Thursday by the divisor (0.132319125) you get the increase in Thursday's Dow of 273.28. 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 Thursday's Dow Jones Industrial Average was $44.87 up 1.23 from Wednesday's Dow Jones Industrial Average average closing price of $43.66. The median closing price of Thursday's Dow Jones Industrial Average was $39.14 up 1.52 from Wednesday's median price of $37.62. The lowest volume was Travelers TRV $49.99 +1.20 2.46% 4,724,922 NYSE and the highest volume again was Bank of America BAC $15.46 +0.45 3% 120,761,886 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 made $3,630 ($134,610 -$130,980).
MarketWatch Wednesday 6/9/10 4:13 pm by Kate Gibson says U.S. stocks finished solidly higher Thursday in Wall Street's best performance since May 27 after a German court declined to immediately block the country's contribution to a program viewed as critical to preventing defaults in the euro zone. In its third biggest gain of 2010, the Dow Jones Industrial Average (DJIA 10,173, +273.28, +2.76%) rose 273.28 points, or 2.8%, to 10,172.53. The S&P 500 Index (SPX 1,087, +31.15, +2.95%) climbed 31.15 points, or 3%, to 1,086.84. The Nasdaq Composite (COMP 2,219, +59.86, +2.77%) advanced 59.86 points, or 2.8%, to 2,218.71
AT&T T $25.44 +0.54 2.17% 32,509,199 NYSE: WSJ pB1 "FBI to Probe iPad Breach" by Spencer Ante, Ben Worthen, USA Today p2B "FBI investigates iPad security breach," NYT pB4 "FBI Investigagtes Breach of AT&T" say the FBI has started an investigation into a possible security breach of AT&T's website that exposed the email addresses of some owners of Apple's iPad devices.
WSJ pA19 "The iPhone, Net Neutrality and the FCC" bvy Andy Kessler a problem with Apple's new iPhone 4 that has a camera for video chats is that AT&T may not provide enough bandwidth capacity. Without mroe broadband capacity and higher speeds, the productivity applications needed to drive the next wave of growth n the economy won't be developed. The author argues that net neutrality rules of the FCC hampers competition.
Alcoa AA $11.25 +0.45 4.17% 22,205,121 NYSE: No mentions found.
AmericanExpress AXP $40.03 +1.92 5.04% 11,353,357 NYSE: WSJ pC6 "Caterpillar and Amex Lead Gains" by Donna Yesalavich says stocks rallied broadly with Caterpillar, American Express among the gainers, as economic data from the US and China and comments from European officials reassured investors about the global economy. Chevron is charted under good news as crude oil futures settled above $75 a barrel after an increase in a forecast of global oil demand for '10.
Bank of America BAC $15.46 +0.45 3% 120,761,886 NYSE: No mentions found.
Boeing BA $63.89 +2.18 3.53% 5,502,326 NYSE: WSJ pB6 Boeing Cargo jet Workers Return After Month long Walkout" says 1,700 assembly line workers at Boeing's Long Beach, Cal C-17 facility returned to work after a contract was ratified.
Caterpillar CAT $59.95 3+.14 5.53% 9,540,635 NYSE: WSJ pC6 "Caterpillar and Amex Lead Gains" by Donna Yesalavich says stocks rallied broadly with Caterpillar, American Express among the gainers, as economic data from the US and China and comments from European officials reassured investors about the global economy. Chevron is charted under good news as crude oil futures settled above $75 a barrel after an increase in a forecast of global oil demand for '10.
Chevron CVX $74.17 +3.38 4.77% 13,536,911 NYSE: WSJ pC6 "Caterpillar and Amex Lead Gains" by Donna Yesalavich says stocks rallied broadly with Caterpillar, American Express among the gainers, as economic data from the US and China and comments from European officials reassured investors about the global economy. Chevron is charted under good news as crude oil futures settled above $75 a barrel after an increase in a forecast of global oil demand for '10.
Cisco CSCO $22.7725 -0.0075 0.03% 97,288,199 NASDAQ-GS: No mentions found.
KO $52.45 +1.10 2.14% 9,123,434 NYSE: No mentions found.
Disney DIS $34.11 +1.17 3.55% 13,362,811 NYSE: NYT B7 "Guilds Said to Tell Disney of Concerns on Miramax Talks" by Michael Cieply, Brooks Barnes says representatives of Hollywood's principal guilds have told Disney that they have serious concerns about the possible sale of its Miramax Films unit to an investor group organized by David Bergstein as several of his firms are subjects of involuntary bankruptcy proceedings in which the guilds are creditors.
DuPont DD $36.99 +1.41 3.96% 8,059,214 NYSE: No mentions found.
Exxon XOM $61.89 +1.86 3.1% 32,275,519 NYSE: WSJ pC3 "Can China Come to BP'sRescue" by Michael Corkery says earlier this week Royal Dutch Shell and Exxon were being mentioned as possible suitors for BP, which may not be able to survive the spill.
GE $15.68 +0.36 2.35% 77,155,872 NYSE: No mentions found.
Hewlett-Packard HPQ $46.5 +1.09 2.4% 15,532,837 NYSE: No mentions found.
Home Depot HD $32.72 +0.96 3.02% 15,143,460 NYSE: WSJ pB7 "Retailers Ring Up New Sales on Smartphones" by Dana mattiolo says retailers fro Home Depot to Lilly Pulitizer are expecting new sales bymaking it easier for people to shop via cellphones, specifically Apple's new iPhone. Now about 30% of retailers have mobile commerce websites, simpler versions of thier sites that make it easier for shoppers to place orders with cellphones.
INTC $20.55 +0.62 3.11% 56,146,863 NASDAQ-GS: NYT pB1 "Dell in Talks To Settle Intel Inquiry With SEC" by iguel Helft says DEll was discussing with the SEC a settlement to resolve allegations that Dell and its foudner and ceo, Michael S. Dell, engaged in fin'l irregularities related to Dell's dealing with Intel.
IBM $127.68 +3.78 3.05% 7,216,603 NYSE: No mentions found.
JPMorgan JPM $38.29 +1.17 3.15% 42,736,571 NYSE: Fin times p15 "JPMorgan Kora chief quizzed on trading allegations" by Sundeep Tucker, Song Jung-a says the veteran head of JPMorgan Chase's S. Korea operations ahs been questioned by local investigators probing insider trading allegations.
Johnson & Johnson JNJ $58.5 +0.33 0.57% 16,652,392 NYSE: NYT pB1 "Johnson & Johnson Seen as Uncooperative on Recall Inquiry" by Natasha Singer says a Congressional investigation into a recent recall of Tylenol for kids and other pediatric medicines has been stymied by Johnson & Johnson raising the prospect that new measures like issuing subpoenas to compel cooperation could be invoked.
WSJ pA4 "Drug makers Will Sahre Daa From Failed alzheimer's Trials" by Shirley Wang says data from 4,000 patients across 11 failed Alzheimer's drug clinical trials from Johnson & Johnson and 4 other big pharma firms will be publicly available as of Friday.
Kraft KFT $29.38 +0.50 1.73% 11,427,263 NYSE: No mentions found.
McDonalds MCD $69.37 +1.11 1.63% 6,513,052 NYSE: No mentions found.
Merck MRK $34.65 +0.94 2.79% 18,377,902 NYSE: No mentions found.
Microsoft MSFT $25 +0.21 0.85% 77,012,450 NASDAQ-GS: Fin Times p15 "Microsoft Office set to go free online" by Richard Waters, FT p10 "Office 2010 gets conected" by Paul Taylor say Microsoft is set to launch a free online version of Office next week as it seeks to counter the rise of Google Docs & other online services.
WSJ pB8 "Videogame makers Enhance Lineup" by Yukari Kane, Nick Wingfield says Microsoft, Nintendo and Sony are getting ready to show off an array of new motion accessories and 3D technology next week in the hopes of re-energizing the slumping videogame industry.
Pfizer PFE $14.91 +0.39 2.69% 59,086,579 NYSE: No mentions found.
Procter & Gamble PG $61.91 +0.44 0.72% 14,324,999 NYSE: No mentions found.
3M MMM $77.43 +2.64 3.53% 6,032,566 NYSE: No mentions found.
Travelers TRV $49.99 +1.20 2.46% 4,724,922 NYSE: No mentions found.
United Tech UTX $65.49 +2.07 3.26% 5,682,801 NYSE: No mentions found.
Verizon VZ $28.34 +0.56 2.02% 16,322,347 Dual Listed: No mentions found.
WalMart WMT $51.22 +0.23 0.45% 15,552,945 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 1/2 billion as of 6/4/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $283 [4.5]
2. Procter & Gamble PG 244.5 [4]
3. Microsoft MSFT 229 [9]
4. WalMart WMT 190.5 [4]
5. GE 168 [10.5]
6. IBM 161 [1]
7. Johnson & Johnson JNJ 160 [3]
8. Bank of America BAC 155.5 [10]
9. JPMorgan Chase 152 [4]
10. Chevron CVX 144 [2]
11. AT&T 143 [6]
12. Cisco CSCO 132 [6]
13. Pfizer PFE 120 [8]
14. Coke KO 119 [2.5]
15. Intel INTC 117 [5.5]
16. Hewlett-Packard HPQ 108.5 [2.5]
17. Merck MRK 104 [3]
18. Verizon VZ 77 [3]
19. McDonald's MCD 72 [1]
20. Disney DIS 66.5 [2.5]
21. United Technologies UTX 61 [1]
22. 3M MMM 55 [1]
23. Home Depot 54.5 [1.5]
24. Kraft KFT 50 [2]
25. Boeing BA 47 [1]
26. American Express AXP 47 [1]
27. Caterpillar CAT 36.5 [.5]
28. DuPont DD 31 [1]
29. Travelers 24.5 [.5]
30. Alcoa AA 11 [1]
Here are the latest SEC filings as of 6/4/10 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses and third party shareholder proposals:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 5/24/10 8K: re: sale ofl its Sterling Commerce subsidiary to IBM for $1.4 billion in cash. Sterling Commerce provides business to business applications and integration solutions to more than 18,000 customers worldwide. AT&T expects the transaction to close in the second half of '10, subject to receipt of regulatory approvals . AT&T expects to record a one-time, pre-tax gain of $750 million for the quarter in which the transaction closes.
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: 6/2/10 8K re: statistics re: worldwide billed business.
5/17/10 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended February 28, March 31 and April 30, 2010.
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: 6/4/10 Free Writing Prospectuses
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: 6/1/10 8K re: purchase of Electro-Motive Diesel, Inc. for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC.
5/28/10 8K re: retirement of David B. Burritt, VP & CFO as of 6/1/10.
5/20/10 8K re: statistics re: deliveries to users for its Machinery and Engines lines of business.
5/10/10 Definitive Proxy materials
5/510 8-K re: departure of directors and officers
5/3/10 10Q
Chevron CVX: 6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
5/19/10 definitive proxy materials
5/13/10 8K re: certain revisions of 10-K annual report for year ended 12/31/09.
5/5/10 10Q
Cisco CSCO: 5/26/10 10Q
5/12/10 8K re: results of operations for its fiscal third quarter 2010 ended May 1, 2010.
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: 5/11/10 10Q
5/11/10 8-K re: press release re: 10Q re: quarter ended 4/3/10.
DuPont DD: 4/29/10 8K re: voting results from annual meeting held on 4/28/10.