6/17/10 Thurs. pm Dow Closes 10,434.17 up 24.71 or 0.24%

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Post No. 488. 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.

The Dow Jones Industrial Average closed Thursday at 10,434.17 up 24.71 or 0.24 from Wednesday's close of 10,409.46. Of the 30 Dow Companies: 17 gained and 13 declined. The biggest gainer dollar-wise and percentage-wise was Travlers TRV $51.71 +0.88 1.73% 4,508,299 NYSE. The biggest decliner dollar-wise was American Express AXP $42.06 -0.28 0.66% 7,984,229 NYSE and percentage-wise was Alcoa AA $11.18 -0.23 2.02% 23,708,665 NYSE.

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 15.13 unchanged from Wednesday's 15.13 (year ago it was 12.38) the P/E estimate is 12.56 unchanged from Wednesday's 12.56 (year ago it was 14.22) and the current dividend yield is 2.66 down from Wednesday's 2.66 (it was 3.41 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 1,380.64 up 3.27 from Wednesday's closing numerator of 1,377.37. 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 3.27 for Thursday by the divisor (0.132319125) you get the increase in Thursday's Dow of 24.71. 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 $46.02 up 0.11 from Wednesday's Dow Jones Industrial Average average closing price of $45.91. The median closing price of Thursday's Dow Jones Industrial Average was $40.25 down 0.18 rom Wednesday's median price of $40.43. The lowest volume was 3M MMM $81.03 +0.15 0.19% 3,970,249 NYSE and the highest volume again was Bank of America BAC $15.82 -0.05 0.32% 126,751,099 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 $323 ($138,060 - $137,736).

MarketWatch 6/17/10 Thurs. 4:42 pm by Kate Gibson says after a late reversal, U.S. stocks ended higher on Thursday, as gains in technology helped offset the impact of mostly weak economic reports and a successful bond auction in Spain helped soothe concerns over Europe. With the euro continuing to stabilize this week, stocks were also on track for solid gains for the week. After trading lower for most of the session, the Dow Jones Industrial Average (DJIA 10,434, +24.71, +0.24%) ended up 24.71 points, or 0.2%, at 10,434.17, with 17 of its 30 components rising. Insurance giant Travelers (TRV 51.45, -0.26, -0.51%) led the gains for blue chips, while aluminum giant Alcoa Inc. (AA 11.18, -0.23, -2.02%) fell the most, off 2%. The S&P 500 Index (SPX 1,116, +1.43, +0.13%) rose 1.43 points, or 0.1%, to end at 1,116.04. Consumer staples, utilities and technology firms fared the best. The S&P 500, used as a benchmark of the broad market by money managers, is up 2.2% so far this week. The Dow industrials are also up 2.2% week to date. The Nasdaq Composite Index (COMP 2,307, +1.23, +0.05%) finished off 1.23 points, or 0.1%, to 2,307.16. The tech-heavy index is up 2.8% for the week so far. For every 14 shares rising, 14 fell on the New York Stock Exchange, where 1.15 billion shares traded. Composite volume topped 4.7 billion. On the New York Mercantile Exchange, gold futures closed at a record high $1,248.70 an ounce, while crude-oil futures fell 88 cents to end at $76.79 a barrel.
Wall Street's gaze was also trained on televised House subcommittee hearings on Capitol Hill, where BP PLC (BP 31.71, -0.14, -0.44%) CEO Tony Hayward apologized for the devastating oil spill in the Gulf of Mexico. After an initial bout of wavering, stock indexes turned lower after the Philadelphia Federal Reserve reported regional manufacturing continued to expand in June, but at a slower pace than the prior month. This Week in Mutual Funds: high-yield bondsWith signs the U.S. economy is improving, corporate bonds offer more stable income, according to ETF Trends' Tom Lydon, who talks about some investment-grade and high-yield, bond exchange-traded funds investors can consider. Jonathan Burton reports. The vexing manufacturing report came in the wake of data that had the government's count of those filing for first-time jobless benefits rising by 12,000 to 472,000 last week. Other economic reports included the index of U.S. leading indicators, which climbed 0.4% in May, indicating expansion would continue into the second half of 2010. Separately, the Labor Department reported consumer prices fell 0.2% in May for a second month in a row, pushing aside any concerns that the Federal Reserve might have to act to curb inflation. Wall Street had sputtered higher at the start after Spain sold 3.5 billion euros, or $4.3 billion, in bonds, offsetting worries that it would not be able to finance its debt


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

AT&T T $25.57 +0.05 0.2% 23,616,831 NYSE
Alcoa AA $11.18 -0.23 2.02% 23,708,665 NYSE
American Express AXP $42.06 -0.28 0.66% 7,984,229 NYSE
Bank of America BAC $15.82 -0.05 0.32% 126,751,099 NYSE
Boeing BA $67.26 +0.23 0.34% 3,622,333 NYSE
Chevron CVX $75.32 +0.37 0.49% 11,076,525 NYSE
Cisco CSCO $23.169 -0.121 0.52% 52,711,162 NASDAQ-GS
Coke KO $52.36 -0.04 0.08% 10,335,038 NYSE
DuPont DD $37.8 +0.04 0.11% 6,100,888 NYSE
Disney DIS $35.07 +0.28 0.8% 10,890,648 NYSE
ExxonMobil XOM $62.6 +0.09 0.14% 23,214,735 NYSE
GE $15.91 +0.06 0.38% 56,193,295 NYSE
Hewlett-Packard HPQ $48.24 +0.23 0.48% 16,287,219 NYSE
Home Depot HD $31.91 -0.23 0.72% 23,900,658 NYSE
Intel INTC $21.52 +0.031 0.14% 37,159,188 NASDAQ-GS
IBM $130.98 +0.63 0.48% 5,542,903 NYSE
JPMorgan JPM $38.44 -0.08 0.21% 34,590,239 NYSE
Johnson & Johnson JNJ $59.18 -0.06 0.1% 11,660,265 NYSE
Kraft KFT $29.98 +0.25 0.84% 9,981,868 NYSE
McDonald's MCD $70.05 -0.24 0.34% 6,999,687 NYSE
Merck MRK $35.86 -0.15 0.42% 17,812,354 NYSE
Microsoft MSFT $26.37 +0.05 0.19% 47,950,592 NASDAQ-GS
Pfizer PFE $15.47 -0.01 0.06% 49,462,736 NYSE
Procter & GamblePG $61.76 +0.57 0.93% 12,026,986 NYSE
3M MMM $81.03 +0.15 0.19% 3,970,249 NYSE
Travlers TRV $51.71 +0.88 1.73% 4,508,299 NYSE
United Technologies UTX $68.56 -0.03 0.04% 4,344,861 NYSE
Verizon VZ $29.09 -0.09 0.31% 20,977,435 Dual Listed
Walmart WMT $51.41 +0.43 0.84% 12,580,681 NYSE

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The following are excerpts from Thursday morning's Blog.

A read of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution& Daily Report (Georgia) 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 10,409.46 up 4.69 or 0.05% from Tuesday's close of 10,404.77. For the year the Dow is down 0.18%. Of the 30 Dow Companies: 13 gained, ExxonMobil was unchanged and 16 declined. The biggest gainer dollar-wise was 3M MMM $80.88 +1.11 1.39% 5,317,422 NYSE and percentage-wise was American Express AXP $42.34 +0.75 1.8% 11,474,344 NYSE . The biggest decliner dollar-wise was Procter & Gamble PG $61.19 -0.72 1.16% 14,598,598 NYSE and percentage-wise was Alcoa AA $11.41 -0.18 1.55% 16,275,993 NYSE.

WSJ pC1 "BP's Moves Fuel DJIA's Gain of 4.69" by Peter McKay says a rebound in energy stocks helped blue chips eke out a small gain, as BP suspended its dividend and said it would set up a $20 bil fund to compensate victims of the oil spill. The Dow was led by industrial components Caterpillar up 1.5% and 3M up 1.4%.

WSJ pC5 "FedEx, Nokia Drop; Sunoco Fires Up 6.3%" by Donna Yesalavich says Amerian Express and Caterpillar helped push the Dow slightly higher. American Express was the Dow's best performer with a gain of 1.8% extending the stock's climb after it reported lower delinquencies and write-offs. Alcoa weighed ont he Dow with a drop of 1.6% Walmart was weak down 1.3% after J Sainsbury one of the UK competitors to Walmart's Asda Group reported slowing sales growth.

Fin Times p28 "FedEx guidance & weak housing starts weigh on sentiment" by Masa Serdarevic says US stocks declined yesterday as weaker than expected housing starts data and disappointing guidance from FedEx weighed on sentiment. However, the bulls were boosted by strong industrial production figures.

USA Today p4B "Stocks recover from early dip, finish flat" by AP and same story at NYT pB8 "BP's Fund for Spill Victims Helps Steady market" by AP says an agreement by BP to put $20 bil into a fund for the oil spill victims lifted the stock market off its lows and sent the indexes to a narrowly mixed finish.

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 15.13 unchanged from Wednesday's 15.13 (year ago it was 12.38) the P/E estimate is 12.56 unchanged from Wednesday's 12.56 (year ago it was 14.22) and the current dividend yield is 2.66 down from Wednesday's 2.66 (it was 3.41 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 1,377.37 up 0.62 from Tuesday's closing numerator of 1,376.75. 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 increase of 0.62 for Wednesday by the divisor (0.132319125) you get the increase in Wednesday's Dow of 4.69. 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 $45.91 up 0.02 from Tuesday's Dow Jones Industrial Average average closing price of $45.89. The median closing price ofWednesday's Dow Jones Industrial Average was $40.43 $0.54 from Tuesday's median price of $39.89. The lowest volume was United Technologies UTX $68.59 -0.01 0.01% 4,047,020 NYSE and the highest volume again was Bank of America BAC $15.87 -0.071 0.45% 109,700,063 . 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 $75.99 ($137,736.99 - $137,661).

MarketWatch 6/16/10 Wed. 4:22 pm by Nick Godt says U.S. stocks finished Wednesday's session little changed, unable to shake off early weakness from a drop in U.S. home building and afternoon news that BP Plc (BP 31.97, +0.12, +0.38%) agreed to pay $20 billion to victims of its oil spill. After a big rally on Tuesday, the Dow Jones Industrial Average (DJIA 10,409, +4.69, +0.05%) ended on a gain of 4.69 points, or 0.1%, to 10,409.46, with 14 of its 30 components rising. Cyclical shares such as Caterpillar (CAT 64.40, +0.01, +0.02%) and 3M Co. (MMM 80.53, -0.35, -0.43%) led blue-chip gains. The S&P 500 index (SPX 1,115, -0.62, -0.06%) fell 0.62 points, or 0.1%, to 1,114.61, with the consumer staples and discretionary sectors weighing on the broad index. The Nasdaq Composite (COMP 2,306, +0.05, +0.00%) rose 0.05 points to 2,305.93.

AT&T T $25.52 -0.02 0.08% 19,729,512 NYSE: WSJ pB4 "Apple, AT&T Trumpet Sales of iPhone 4, Despite Snafu" by Niraj Sheth, Yukari Iwatani Kane, NYT pB3 "Ordes for the iPhone 4 Top 600,000" by Jenna Wortham say Apple said it took advance orders for more than 600,000 new iPhones world wide on the first day the device became available, a flood of demand that caused difficulty processing orders at US carrier At&T.

WSJ pB4 "Nokia Cuts Foecast For Profit in Quarter" by Gustav Sandstrom says leading US wireless carrier AT&T said Wed it has suspended preorders for iPHone 4 amid presales that were times higher than those of iPhone 3, suggesting Nokia's problems will only intensify as it is the world's leading mobiel phone maker.

Alcoa AA $11.41 -0.18 1.55% 16,275,993 NYSE: WSJ pC5 "FedEx, Nokia Drop; Sunoco Fires Up 6.3%" by Donna Yesalavich says Amerian Express and Caterpillar helped push the Dow slightly higher. American Express was the Dow's best performer with a gain of 1.8% extending the stock's climb after it reported lower delinquencies and write-offs. Alcoa weighed ont he Dow with a drop of 1.6% Walmart was weak down 1.3% after J Sainsbury one of the UK competitors to Walmart's Asda Group reported slowing sales growth.

American Express AXP $42.34 +0.75 1.8% 11,474,344 NYSE: WSJ pC5 "FedEx, Nokia Drop; Sunoco Fires Up 6.3%" by Donna Yesalavich says Amerian Express and Caterpillar helped push the Dow slightly higher. American Express was the Dow's best performer with a gain of 1.8% extending the stock's climb after it reported lower delinquencies and write-offs. Alcoa weighed ont he Dow with a drop of 1.6% Walmart was weak down 1.3% after J Sainsbury one of the UK competitors to Walmart's Asda Group reported slowing sales growth.

Bank of America BAC $15.87 -0.071 0.45% 109,700,063 NYSE: No mentions found.

Boeing BA $67.03 -0.45 0.67% 4,387,953 NYSE: AJC pA18 "Boeing union warns it could strike on Mon" says Boeing workers in St Louis say they could walk out on Mon if the Int'l Assoc. of Machinists and Aerospace Workers which represents 2,500 St. Louis Boeing workers can't reach agreement.

Caterpillar CAT $64.39 +0.93 1.47% 10,339,318 NYSE: WSJ pC1 "Several US Lawmakers Bet on Firms They Ovesaw" by Jason Zweig, Brody Mullins, Tom McGinty says Rep. Henry Brown (R. SC) is on the highways and transit subcommittee of the House transportation & infrastructure committee. On 1/23/09 3 days before the economic stimulus bill was introduced he bought shares of Caterpillar.

WSJ pC1 "BP's Moves Fuel DJIA's Gain of 4.69" by Peter McKay says a rebound in energy stocks helped blue chips eke out a small gain, as BP suspended its dividend and said it would set up a $20 bil fund to compensate victims of the oil spill. The Dow was led by industrial components Caterpillar up 1.5% and 3M up 1.4%.

Chevron CVX $74.95 -0.28 0.37% 10,341,439 NYSE: No mentions found.

CSCO $23.29 -0.04 0.17% 73,544,444 NASDAQ-GS: No mentions found.

Coke KO $52.4 +0.22 0.42% 8,264,366 NYSE: No mentions found.

DIS $34.79 -0.20 0.57% 9,291,253 NYSE: No mentions found.

DuPont DD $37.76 -0.10 0.26% 7,152,297 NYSE: No mentions found.

Exxon XOM $62.51 unch unch 20,321,818 NYSE: No mentions found.

GE $15.85 +0.065 0.41% 85,906,778 NYSE: No mentions found.

Hewlett-Packard HPQ $48.01 +0.03 0.06% 18,009,630 NYSE: No mentions found.

Home Depot HD $32.14 -0.12 0.37% 16,233,081 NYSE: No mentions found.

Intel INTC $21.489 +0.009 0.04% 43,409,154 NASDAQ-GS: No mentions found.

IBM $130.35 +0.56 0.43% 6,294,518 NYSE: No mentions found.

JPMorgan JPM $38.52 +0.27 0.71% 36,850,377 NYSE: No mentions found.

Johnson & John JNJ $59.24 +0.10 0.17% 8,458,053 NYSE: No mentions found.

KFT $29.73 +0.0175 0.06% 7,335,815 NYSE: No mentions found.

McDonalds MCD $70.29 -0.11 0.16% 4,478,260 NYSE: No mentions found.

MRK $36.01 -0.01 0.03% 17,199,393 NYSE: No mentions found.

MSFT $26.32 -0.2625 0.99% 48,068,703 NASDAQ-GS: No mentions found.

Pfizer PFE $15.48 -0.04 0.26% 37,473,079 NYSE: No mentions found.

Procter & Gamble PG $61.19 -0.72 1.16% 14,598,598 NYSE: No mentions found.

3M MMM $80.88 +1.11 1.39% 5,317,422 NYSE: WSJ pC1 "BP's Moves Fuel DJIA's Gain of 4.69" by Peter McKay says a rebound in energy stocks helped blue chips eke out a small gain, as BP suspended its dividend and said it would set up a $20 bil fund to compensate victims of the oil spill. The Dow was led by industrial components Caterpillar up 1.5% and 3M up 1.4%.

Travelers TRV $50.83 -0.40 0.78% 4,813,391 NYSE: No mentions found.

United Technologies UTX $68.59 -0.01 0.01% 4,047,020 NYSE: No mentions found.

Verizon VZ $29.18 +0.07 0.24% 19,344,822 Dual Listed: No mentions found.

Walmart WMT $50.98 -0.66 1.28% 15,845,820 NYSE: WSJ pC5 "FedEx, Nokia Drop; Sunoco Fires Up 6.3%" by Donna Yesalavich says Amerian Express and Caterpillar helped push the Dow slightly higher. American Express was the Dow's best performer with a gain of 1.8% extending the stock's climb after it reported lower delinquencies and write-offs. Alcoa weighed ont he Dow with a drop of 1.6% Walmart was weak down 1.3% after J Sainsbury one of the UK competitors to Walmart's Asda Group reported slowing sales growth.
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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.