6/2/10 Wed. am Caterpillar buy Train Mfger to rival GE

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Post No. 461. 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 Wednesday'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 Tuesday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Tuesday at 10,024.02 down 112.61 or 1.11% from Friday's close of 10,136.63. Of the 30 Dow Companies: 8 gained and 22 declined. The biggest gainer dollar-wise was Johnson & Johnson JNJ $58.76 +0.46 0.79% 19,461,414 NYSE and percentage-wise was Kraft KFT $28.9 +0.30 1.05% 13,013,103 and NYSE. The biggest decliner dollar-wise was Chevron CVX $72.29 -1.58 2.14% 13,764,779 NYSE and percentage-wise was Alcoa AA $11.19 -0.45 3.87% 23,332,647 NYSE.

WSJ pC1 "Energy Stocks Drag on Market; Dow Industrials Decline 112.61" by Peter McKay says energy stocks suffered one of worst one day plunges since the Gulf of Mexico oil spill began, dragging the broader market lower.

WSJ pC12 "Alcoa, Cat Take Hits: H-P Slips" by Donna Yesalavich says energy firms led a decline in stocks Tues, as BP's mounting troubles, including US civil and criminal investigations announced late in the session, rattled investors already worried about a global economic slowdown and its potential impact on firms such as Alcoa and Caterpillar. Alcoa is charted under Bad News saying on a rock day for industrials, Alcoa led decliners. Energy firms were particularly weak with Chevron down 2.1% and Exxon Mobil declined 2%. Hewlett-Packard slipped 0.9% as it said it would spend $1 bil to automate data centers and make other changes in its IT services business.

NYT pB9 "Oil Spill Inquiry Chills Traders at the Close" by Christine Hauser says stocks in he US were dragged lower by he energy sector after the gov announced on Tues. hat it was opening investigations into the oil spill.

As of the open of the market Wednesday, 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 14.57 up from Tuesday's 14.74 (year ago it was 43.93) the P/E estimate is 12.62 unchanged from Tuesday's 12.62 (year ago it was 23.66) and the current dividend yield is 2.76 up from Tuesday's 2.73 (it was 3.51 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.

Tuesday's Dow Jones Industrial Average closing numerator was 1,326.37 down 16.19 from Friday's closing numerator of 1,341.27. 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 16.19 for Tuesday by the divisor (0.132319125) you get the decrease in Tuesday's Dow of 112.61. 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 Tuesday's Dow Jones Industrial Average was $44.21 down 0.50 from Friday's Dow Jones Industrial Average average closing price of $44.71. The median closing price of Tuesday's Dow Jones Industrial Average was $38.86 down 0.87 from Friday's median price of $39.73. The lowest volume was 3M MMM $78.07 -1.24 1.56% 4,276,628 NYSE and the highest volume again was Bank of America BAC $15.44 -0.30 1.91% 122,880,793 NYSE.

If Tuesday 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 $1,490.06 ($134,127 - $132,636.94).

Market Watch 6/1/10 Tues. 5:05 pm by Kate Gibson says U.S. stocks closed sharply lower Tuesday, with losses picking up late in the session as gains fueled by upbeat economic reports gave way to worries over European debt and BP's inability to deal the oil disaster in the Gulf of Mexico. The Dow Jones Industrial Average (DJIA 10,024, -112.61, -1.11%) fell 112.61 points, or 1.1%, to 10,024.02, after it rose up to 10,218 during the session. Shares of Alcoa Inc. (AA 11.19, -0.45, -3.87%) and J.P. Morgan Chase & Co. (JPM 38.54, -1.04, -2.63%) fronted the losses on the blue-chip average. The S&P 500 Index (SPX 1,071, -18.70, -1.72%) shed 18.70 points to 1,070.71, with energy stocks weighing the most among its 10 industry groups. BP PLC (BP 36.52, -6.43, -14.97%) was among the energy sector's notable laggards, down nearly 15%. Other companies involved in the disaster were also hit, including Halliburton Co. (HAL 21.15, -3.68, -14.82%) , also off 15%. Read more about companies making notable moves.
Consumer staples proved to be the best performing sector, with shares of Hershey Co. (HSY 48.00, +1.20, +2.56%) up 2.6% after the candy maker said it might slash as many as 600 jobs.
Also among the blue chips, AT&T Inc. (T 24.33, +0.03, +0.12%) ended up 0.1% after the telecom giant said it would sell part of its Japanese operations for $100 million.
Crude futures slid $1.39, or 1.9%, to end at $72.58 a barrel on the New York Mercantile Exchange.The Nasdaq Composite Index (COMP 2,222, -34.71, -1.54%) slumped 34.71 points to 2,222.33. For every stock on the advance, almost four fell on the New York Stock Exchange, where more than 1.4 million shares traded. Composite volume topped 5.4 billion.
The major averages had all opened with losses after Europe's common currency dropped to a four-year low (CUR_EURUSD 1.2222, -0.0082, -0.6664%).The early stock slide continued a May trend, as a slowdown in manufacturing in China compounded worries about Europe's ability to curb its debt.The U.S. Commerce Department reported construction spending rose 2.7% in April, the largest rise in almost a decade. That better-than-expected economic report came along with the Institute for Supply Management's manufacturing index, which declined to 59.7 in May from 60.4 in April. Its findings also exceeded expectations. The market's reaction to U.S. economic reports marked a change from its fixation on concerns overseas and the impact on currencies, specifically the euro and the U.S. dollar, with the former hitting a new four-year low against the latter ahead of Wall Street's open.

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

AT&T T $24.33 +0.03 0.12% 29,610,915 NYSE: No mentions found.

Alcoa AA $11.19 -0.45 3.87% 23,332,647 NYSE: No mentions found.

American Express AXP $39.19 -0.68 1.71% 12,164,621 NYSE: No mentions found.

Bank of America BAC $15.44 -0.30 1.91% 122,880,793 NYSE: WSJ pC3 "The Bnker & the Missionary" by Michael Corkery says while Brain Moynihan is the CEO of Bank of America, his younger brother Patrick is a Catholic missionary in Haiti.

Boeing BA $62.95 -1.23 1.92% 6,281,767 NYSE: No mentions found.

Caterpillar CAT $59.27 -1.49 2.45% 8,316,301 NYSE: WSJ pB1 "Caterpillar, GE in Rail Race" by Robert Matthews says Caterpillar is pushing further into the rail biz by buying a maker of locomotives, and taking on GE. Caterpillar will pay $820 mil for Electro-Motive Diesel in a bet that freight transport will grow as the economy strengthens. It has invested $2 bil since '06 in the rail and transit sector and its purchase of EMD will make it the second largest locomotive and rail services provider in the US behind GE.

Chevron CVX $72.29 -1.58 2.14% 13,764,779 NYSE: No mentions found.

Cisco CSCO $22.99 -0.17 0.73% 53,948,395 NASDAQ-GS: No mentions found.

Coca-Cola KO $51.29 -0.11 0.21% 12,066,219 NYSE: No mentions found.

Disney DIS $33.33 -0.09 0.27% 15,330,189 NYSE: NYT pB1 "Disney Selling Film Tickets on Facebook" by Brooks Barnes says Disney has created a new app allowing Facebook users to buy tickets to Toy Story3 without leaving the Facebook site and at the same time, prodding their friends to come along.

DuPont DD $35.24 -0.93 2.57% 6,720,340 NYSE: No mentions found.

ExxonMobil XOM $59.25 -1.21 2% 32,447,443 NYSE: No mentions found.

GE $15.98 0.37 -2.26% 72,846,020 NYSE: WSJ pB1 "Caterpillar, GE in Rail Race" by Robert Matthews says Caterpillar is pushing further into the rail biz by buying a maker of locomotives, and taking on GE. Caterpillar will pay $820 mil for Electro-Motive Diesel in a bet that freight transport will grow as the economy strengthens. It has invested $2 bil since '06 in the rail and transit sector and its purchase of EMD will make it the second largest locomotive and rail services provider in the US behind GE.

Hewlett-Packard HPQ $45.58 -0.43 0.93% 17,685,676 NYSE: WSJ pB1 "H-P Revamps Services Unit" by Justin Scheck, NYT pB3 "H-P Will Cut 9,000 Jobs as it Streamlines Its Data Centers" by Claire Miller say Hewlett-Packard said it will shed 9,000 workers from its technology services division while investing $1 bil to modernize the unit, as it moves to jump start growth in an industry that's lagged the economic recovery. 2 weeks ago, HP said quarterly rev in its services div, which runs computer systems for large firms and govs, rose 2% from a year earlier but declined 3% when adjusted for currency differences. In contrast other HP divisions such as personal computers saw sales rise more than 20% year over year. Rival IBM also reported weak tech services growth in its most recent quarter, with sales up 4% from a year earlier but declining 2% when adjusted for currency.

WSJ pB5 "Trying to Catch the iPad" by Ting-I Tsai, Lorraine Luk, don Clark says execs for Microsoft and Intel voiced confidence their technologies will play big roles in the burgeoning market for tablet computers, as the 2 firms fight to win over electronics manufacturers and attempt to catch Apple. Microsoft and Intel, which long dominated the traditional computer business, have both seen rivals make headway in the early days of the tablet. Mainstream interest in the touch screen devices ha soared since the April launch of Apple's iPad, which has already sold 2 mil units. Google's software scored victories when Acer and Dell, 2 and 3 behind Hewlett Packard, unveiled tablets that will Android last week. Microsoft has won some victories with Taiwan's Asustek and Micro-Star Int'l saying they plan to sell tablet models using Windows 7.

Home Depot HD $33.54 -0.32 0.95% 17,216,337 NYSE: No mentions found.

Intel INTC $21.18 -0.24 1.12% 56,885,429 NASDAQ-GS: WSJ pB5 "Trying to Catch the iPad" by Ting-I Tsai, Lorraine Luk, don Clark says execs for Microsoft and Intel voiced confidence their technologies will play big roles in the burgeoning market for tablet computers, as the 2 firms fight to win over electronics manufacturers and attempt to catch Apple. Microsoft and Intel, which long dominated the traditional computer business, have both seen rivals make headway in the early days of the tablet. Mainstream interest in the touch screen devices ha soared since the April launch of Apple's iPad, which has already sold 2 mil units. Google's software scored victories when Acer and Dell, 2 and 3 behind Hewlett Packard, unveiled tablets that will Android last week. Microsoft has won some victories with Taiwan's Asustek and Micro-Star Int'l saying they plan to sell tablet models using Windows 7.

IBM $124.34 -0.92 0.73% 7,081,766 NYSE: WSJ pB1 "H-P Revamps Services Unit" by Justin Scheck says Hewlett-Packard said it will shed 9,000 workers from its technology services division while investing $1 bil to modernize the unit, as it moves to jump start growth in an industry that's lagged the economic recovery. 2 weeks ago, HP said quarterly rev in its services div, which runs computer systems for large firms and govs, rose 2% from a year earlier but declined 3% when adjusted for currency differences. In contrast other HP divisions such as personal computers saw sales rise more than 20% year over year. Rival IBM also reported weak tech services growth in its most recent quarter, with sales up 4% from a year earlier but declining 2% when adjusted for currency.

JPMorgan Chase JPM $38.54 -1.04 2.63% 36,585,023 NYSE: No mentions found.

Johnson & Johnson JNJ $58.76 +0.46 0.79% 19,461,414 NYSE: No mentions found.

Kraft KFT $28.9 +0.30 1.05% 13,013,103 NYSE: No mentions found.

McDonald's MCD $66.36 -0.51 0.76% 5,326,751 NYSE: No mentions found.

Merck MRK $33.53 -0.16 0.47% 20,691,323 NYSE: WSJ pB2 "Amgen Osteoporosis Drug Approved" by Thomas Gryta, NYT pB2 "Amgen Drug Approved to Fight Osteoporosis" by Reuters say Amgen received FDA approval for Prolia to treat osteoporosis in postmenopsuasal woman in a surprise decision that came almost 2 months earlier than expected. Prolia, generically named denosumab, is a monoclonal antibody that targets a protein, cacalled RANK Ligand, which helps regulate cells called osteoclasts that break down bone. The copetitive osteoporosis market is dominated by a class of drugs called bisphosponates that includes Merck's Fosamax, a pill that is available in cheap generic form.

Microsoft MSFT $25.89 +0.09 0.35% 75,737,299 NASDAQ-GS: WSJ pB5 "Trying to Catch the iPad" by Ting-I Tsai, Lorraine Luk, don Clark says execs for Microsoft and Intel voiced confidence their technologies will play big roles in the burgeoning market for tablet computers, as the 2 firms fight to win over electronics manufacturers and attempt to catch Apple. Microsoft and Intel, which long dominated the traditional computer business, have both seen rivals make headway in the early days of the tablet. Mainstream interest in the touch screen devices ha soared since the April launch of Apple's iPad, which has already sold 2 mil units. Google's software scored victories when Acer and Dell, 2 and 3 behind Hewlett Packard, unveiled tablets that will Android last week. Microsoft has won some victories with Taiwan's Asustek and Micro-Star Int'l saying they plan to sell tablet models using Windows 7.

WSJ pB5 "Microsoft Left Minding Its Own Stores" by Nick Wingfield says George Balnkenship, a former Apple exec who helped Microsoft get its retail stores off the ground, is leaving.

Pfizer PFE $14.99 -0.24 1.58% 56,655,793 NYSE: No mentions found.

Procter & Gambel PG $61.16 +0.07 0.11% 15,269,447 NYSE: No mentions found.

3M MMM $78.07 -1.24 1.56% 4,276,628 NYSE: No mentions found.

Travelers TRV $48.6 -0.87 1.76% 4,767,599 NYSE: No mentions found.

United Technologies UTX $66.05 -1.33 1.97% 5,088,977 NYSE: No mentions found.

WalMart WMT $50.92 +0.36 0.71% 15,987,046 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 (except for Microsoft) followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $319 [5]
2. Microsoft MSFT 219 [9] (As of 5/26/10 market close)
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