6/4/10 Fri. am JPMorgan Securities fined $49 mil in UK for Co-Mingling Funds

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Post No. 465. 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 Friday's Wall St. Journal, Financial Times, New York Times, USA Today & Atlanta Journal Constituion 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 10,255.28 up 5.74 from Wednesday's close of 10,249.54. For the year the Dow is down 1.66%. Of the 30 Dow Companies: 16 gained, WalMart was unchanged and 13 declined. The biggest gainer dollar-wise was ExxonMobil XOM $61.56 +0.79 1.3% 32,372,433 NYSE and percentage-wise was Cisco CSCO $23.72 +0.37 1.58% 48,987,441 NASDAQ-GS NYSE. The biggest decliner dollar-wise was JPMorgan Chase JPM $39.1 -0.45 1.14% 30,913,740 NYSE and percentage-wise was Home Depot HD $33.43 -0.44 1.3% 15,651,527 NYSE.

WSJ pC1 "Payrolls Bets Push the Dow Into the Green" by Peter McKay says stocks posted tiny gains, and Treasury selling pushed up the yield on the 10 year note to its highest level in 2 weeks as some investors placed bets that Fri's jobs report will show solid employment growth. The Nasdaq Composite Index and the Russell 2000 each rose 1%, led by gains in Google and Cisco Systems.

WSJ pC5 "Cisco, Microsoft Rise" Nordstrom Falls" by Donna Yesalavich says tech firms Cisco and Microsoft led stocks slightly higher as investors edged their way back toward riskier areas of the market. Energy firms such as Exxon Mobil also bolstered shares.

Fin Times p24 "Rally wanes after tepid retail results fail to impress" by masa Serdarevic says US stocks continued the previous day's rally yesterday, helped by some positive macroeconomic news, but lacklustre retail sales figures weighed on sentiment. JPMorgan pulled back 1.1% as is securities arm was fined by the UK's Fin'l Services Authority for failing to segregate client money.

NYTpB7 "Hopeful Outlook on Jobs Gives the Market a Lift" by Bllomberg says stocks rose on Thurs as speculation that a jobs report on Fri would bolster optimism in the economy overshadowed concern about slowing growth in China.

USA Today "p4B "Job report optimism helps buoy stocks" by Bloomberg says stocks rallied Thurs, giving the S&P 500 its first back to back gains since April 29 as speculation that today's job report will show a strengthening economy offset concern about Europe's debt crisis.

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 14.91 up from Thursday's 14.90 (year ago it was 43.98) the P/E estimate is 12.62 down from Thursday's 15.91 (year ago it was 13.66) and the current dividend yield is 2.70 down up from Thursday's 2.77 (it was3.46 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 1,356.97 up 0.76 from Wednesday's closing numerator of 1,356.21. 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 0.76 for Thursday by the divisor (0.132319125) you get the increase in Thursday's Dow of 5.74. 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 $45.23 up 0.02 from Wednesday's Dow Jones Industrial Average average closing price of $45.21. The median closing price of Thursday's Dow Jones Industrial Average was $39.82 down 0.45 from Wednesday's median price of $40.27. The lowest volume was Travelers TRV $49.72 -0.06 0.12% 3,673,233 NYSE and the highest volume again was Bank of America BAC $15.81 -0.08 0.5% 123,958,729 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 $60 ($135,690 - $135,630).

AT&T T $24.8 +0.02 0.08% 23,547,268 NYSE: WSJ pB6"AT&T Pricing Shift Will Test Behavior" by Spencer Ante says AT&T's shift toward charging wireless subscribers based on he amount of data they use is expected to be an important test of consumer behavior in the tech industry's fastest growing area.

Alcoa AA $11.37 -0.11 0.96% 25,573,877 NYSE: No mentions found.

Amex AXP $40.54 -0.43 1.05% 8,849,934 NYSE: WSJ pC2 "AmEx Won't match Visa's Banin Cina" by Dinny McMahon says Visa claims it has the right to process certain transactions that banks using its and American Express co-branded cards are processing on a rival network. Visa is trying to stop the banks and American Express has announced it won't follow Visa's course of action.

Bank of America BAC $15.81 -0.08 0.5% 123,958,729 NYSE: WSJ pC3 "Rating Firms To Hold Off downgrades Of Big Banks" by Mark Gongloff says credit ratings firms say they plan to delay issuing any credit rating downgrades to the largest US banks as a result of new fin'l regulations. Moddy's didn't specify which banks it considers systemically important but the short list includes Bank of America, JPMorgan, Citi, Wells, Goldman and Morgan Stanley.

Boeing BA $64.31 -0.03 0.05% 3,774,593 NYSE: No mentions found.

Caterpillar CAT $61.11 +0.25 0.41% 8,982,466 NYSE: No mentions found.

Chevron CVX $73.91 -0.22 0.3% 14,275,526 NYSE: No mentions found.

Cisco CSCO $23.72 +0.37 1.58% 48,987,441 NASDAQ-GS: WSJ pC1 "Payrolls Bets Push the Dow Into the Green" by Peter McKay says stocks posted tiny gains,a nd Treasury selling pushed up the yield on the 10 year note to its highest level in 2 weeks as some investors placed bets that Fri's jobs report will show solid employment growth. The Nasdaq Composite Index and the Russell 2000 each rose 1%, led by gains in Google and Cisco Systems.

WSJ pC5 "Cisco, Microsoft Rise" Nordstrom Falls" by Donna yesalavich says techf irms Cisco and Microsoft led stocks slightly higher as investors edged their way back toward riskier areas of the market. energy firms such as Exxon Mobil also bolstered shares.

Coke KO $52.75 +0.34 0.65% 11,771,695 NYSE: AJC pA14 "Coke European bran to hit US in Sept" by Jeremiah McWilliams says Coke will introduce a new energy drink called Relentless in the US in Sept that will be aimed at territories where coke bottlers do not carry onster energy drinks. It is alsready sold in Europe with increasing sales.

Disney DIS $34.71 -0.03 0.09% 17,752,439 NYSE: No mentions found.

DuPont DD $35.78 -0.41 1.13% 6,635,188 NYSE: No mentions found.

ExxonMobil XOM $61.56 +0.79 1.3% 32,372,433 NYSE: Fin Times p4 "Big oil groups break ranks with BP" by Sheila McNulty, Javier Blas says some of the world's biggest oil firms including ExxonMobil and Chevron, are distancing themselves from BP as its growing oil spill in the Gulf of Mexico threatens Big Oil's plans for the ost productive oil producing region of the US.

WSJ pC5 "Cisco, Microsoft Rise" Nordstrom Falls" by Donna Yesalavich says tech firms Cisco and Microsoft led stocks slightly higher as investors edged their way back toward riskier areas of the market. Energy firms such as Exxon Mobil also bolstered shares.

GE $16.45 +0.10 0.61% 51,779,645 NYSE: WSj pB4 "GE Banks on Gains From Appliances Unit" by Bob Scheler says GE's head of its appliances unit forecast rising rev and profit for '10 and next year, though he credited gov stimulus programs rather than the economic recovery for boosting sales for the GE Appliances & Lighting unit.

Hewlett-Packard HPQ $47.48 +0.21 0.44% 16,838,402 NYSE: No mentions found.

Home Depot HD $33.43 -0.44 1.3% 15,651,527 NYSE: No mentions found.

Intel INTC $21.9 +0.09 0.41% 54,587,004 NASDAQ-GS: No mentions found.

IBM $127.96 +0.55 0.43% 6,645,219 NYSE: No mentions found.

JPMorgan Chase JPM $39.1 -0.45 1.14% 30,913,740 NYSE: Fin Times p1 "JPMorgan fined for account mingling", WSJ pC10 "Safety First for Broker clients" by Peter Eavis, NYT pB3 "JPMorgan Penalized by Regulator in Britain" by Julia Werdigier, USAToday p1B "JPMorgan Securities fined $49 mil" say a unit of JPMorgan Chase was hit with a hefty fine by UK securities regulators after it failed to properly segregate customers' money.

WSJ pC3 "Rating Firms To Hold Off downgrades Of Big Banks" by Mark Gongloff says credit ratings firms say they plan to delay issuing any credit rating downgrades to the largest US banks as a result of new fin'l regulations. Moddy's didn't specify which banks it considers systemically important but the short list includes Bank of America, JPMorgan, Citi, Wells, Goldman and Morgan Stanley.

Fin Times p24 "Rally wanes after tepid retail results fail to impress" by masa Serdarevic says US stocks continued the previous day's rally yesterday, helped by some positive macroeconomic news, but lacklustre retail sales figures weighed on sentiment. JPMorgan pulled back 1.1% as is securities arm was fined by the UK's Fin'l Services Authority for failing to segregate client money.

Johnson & John JNJ $59.77 +0.04 0.07% 14,243,360 NYSE: No mentions found.

KFT $29.28 -0.25 0.85% 13,755,979 NYSE: No mentions found.

McDonalds MCD $67.85 +0.08 0.12% 4,402,406 NYSE: No mentions found.

Merck MRK $34.29 -0.07 0.2% 13,108,355 NYSE: WSJ pB1 "Amgen Bets on Osteoporosis Drug to Revive its Flagging Cgrowth" by Ron Windslow says Amege nhas become the biotech industry's most valuable firm on the soulders o drugs that strengthen the blood. Now to revive its tepid growth, it is counting on a new medicine that strengthens bones, the drug Prolia which in the past week US and European regulators approved. There are 8 million women in the US who suffer from osteoporosis and 75 million worldwide but Merck's Fosamax has a generic version called alendronate that is widely available for between $100 & $200 a year.

Microsoft MSFT $26.86 +0.40 1.51% 67,771,983 NASDAQ-GS: WSJ pC5 "Cisco, Microsoft Rise" Nordstrom Falls" by Donna Yesalavich says tech firms Cisco and Microsoft led stocks slightly higher as investors edged their way back toward riskier areas of the market. Energy firms such as Exxon Mobil also bolstered shares.

Fin Times p17 "Microsoft chief defends software strategy" by Joseph Menn, WSJ pB1 "Ballmer Jabs Jobs Over PCs" by Nick Wingfield say Microsoft CEO Steve Ballmer sought to counter the idea the the ea of PCs is waning at the All Things Digital conference.

WSJ pB6 "AOL Talks to Search Firms as Google Deal nears End" by Scott Morrison says AOL's CEO Tim Armstrong said his struggling Internet firm kicked off talks last week with multiple potential partners to secure a new Web search deal. Google is AOL's current search provider. AOL will talk to Microsoft which has moved aggressively to boost its US search market share since launching its revamped Bing search engine a year ago.

Pfizer PFE $15.2325 +0.0325 0.21% 34,021,319 NYSE: No mentions found.

Procter & Gamble PG $61.8 +0.06 0.1% 10,739,799 NYSE: No mentions found.

MMM $78.34 -0.40 0.51% 7,876,454 NYSE: No mentions found.

Travelers TRV $49.72 -0.06 0.12% 3,673,233 NYSE: No mentions found.

United Tech UTX $67.85 +0.39 0.58% 3,912,195 NYSE: No mentions found.

Verizon VZ $27.64 +0.05 0.18% 15,907,773 Dual Listed: No mentions found.

WalMart WMT $51.72 unch unch 10,498,788 NYSE: NYT pB1 "Lawyers Alerted Walmart to Risks years Before a Bias Suit" by Steven Greenhouse says ore than 6 years before the biggest sex discrimination lawsuit in history was filed against WalMart, the firm hired a law firm to examine its vulnerability to just such a suit.

WSJ pB4 "Walmart to Offer Workers Online Degree Assitance" by Miguel Bustillo, NYT pB4 "WalMart Offers Workers Aid for college" by Stephanie Clifford, Stephanie Rosenbloom say Walmart will offer its 1.4 mil US employees fin'l assistance to attain a higher education from an online university.

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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