Thursday, June 3, 2010

6/3/10 Thurs. am AT&T to Charge for Bandwidth

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Post No. 463. 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 Thursday'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 Wednesday's stock prices and related data.

The Dow Jones Industrial Average closed Wednesday at 10,249.54 up 225.52 or 2.25% from Tuesday's close of 10,024.02. Of the 30 Dow Companies: all 39 gained. The biggest gainer dollar-wise was IBM $127.42 +3.08 2.48% 6,862,773 NYSE and percentage-wise was American Express AXP $40.96 +1.77 4.52% 14,682,573 NYSE.

WSJ pC1 "Fast Rebound for Market As Dow Rises 22.2 Points" by Peter McKay says stocks rebounded to their third biggest gain this year on Wed, buoyed by a sharp recovery in energy shares and new evidence that the US economy is recovering. Disney jumped 4.2% after the head of its consumer products division issued a strong long term forecast for the firm's retail sales. Hewlett-Packard rose 3.7% after the firm received antitrust approval to acquire Palm.

WSJ pC5 "Halliburton Rallies: Chevron Rises 2.6%" BY Donna Yesalavich says stocks rose broadly Wed, led by the energy sector as investors viewed recent declines in Halliburton, Baker Hugher and Exxon as overdone, while a better than expected report on pending home sales also boosted sentiment. Among the Dow's top performers, American Express jumped 4.5%. Disney which is charted under Good News as he mouse roared on a big day for he Dow industrials as the chairman of Disney's consumer products biz said the firm is targeting $50 bil in retail sales within the next 5 years. Chevron was up 2.6% as it and Exxon had been beaten down with the rest of he sector in recent weeks as crude oil futures have fallen and worries over the B oil spill have increased.

USA Today "Stocks surge on home sales, energy bets" by Bloomberg says US stocks rallied Wed, with benchmark indexes rebounding from near 3 month lows, as home sales topped forecast and investors speculated he recent drop in energy shares overshot risks from he Gulf of Mexico oil spill. Bank of America rose 46 cents after CEO Brian Moynihan said BofA did not have huge direct exposure to Europe and that stabilizing loan demand bodes well for the economy.

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 14.90 up from Wednesday's 14.57 (year ago it was 43.60) the P/E estimate is 15.91 up from Wednesday's 12.62 (year ago it was 18.61) and the current dividend yield is 0.77 down up from Wednesday's 2.76 (it was 0.72 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 1,356.21 up 30.84 from Tuesday's closing numerator of 1,326.37. 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 30.64 for Wednesday by the divisor (0.132319125) you get the increase in Wednesday's Dow of 225.52. 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 Wedneday's Dow Jones Industrial Average was $45.21 down $1.00 from Tuesday's Dow Jones Industrial Average average closing price of $44.21. The median closing price of Wednesday's Dow Jones Industrial Average was $40.27 up 1,41 from Tuesday's median price of $38.86. The lowest volume was Travelers TRV $49.78 +1.18 2.43% 4,951,726 NYSE and the highest volume again was Bank of America BAC $15.89 +0.45 2.91% 124,869,585 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 $2,993 ($135,630 - $132,636.94).

Market Watch 6/2/10 Wed. 4:19 pm by Nick Godt says U.S. stocks finished Wednesday's session sharply higher, led by a rebound in energy shares that were hit in the prior session on concerns over the BP Plc (BP 37.67, +0.01, +0.03%) oil spill. The Dow Jones Industrial Average (DJIA 10,250, +225.52, +2.25%) gained 225.82 points, or 2.3%, to 10,249.54. American Express (AXP 40.90, -0.07, -0.17%) led blue-chip gains, up 4.5%, followed by Disney (DIS 34.74, +1.41, +4.23%) , up 4.2%. In the broad market, the S&P 500 index /quotes (SPX 1,098, +27.67, +2.58%) rose 27.67 points, or 2.6%, to 1,098.38, led by a 4.3% jump in the energy sector. The Nasdaq Composite (COMP 2,281, +58.74, +2.64%) was up 58.74 points, or 2.6%, at 2,281.07

AT&T T $24.78 +0.45 1.85% 24,615,279 NYSE: WSJ pA1 "AT&T Dials Up Limits on Web Data" by Andrew Dowell, Roger Cheng says in a significang shift in how phone carriers bill cusoerms, A&T will stop selling unlimited Internet data plans to new customers hat buy smartphones and iPads, and will instead begin charging more for heavy bandwidth users. New A&T custoemrs will have to choose between 2 data plans with monthly usage limits and pay add'l fees for extra use. existing customers can stick with existing plans. Related story at WSJ pC12 "Now AT&T Weights the Price on Data" by Martin Peers.

Alcoa AA $11.48 +0.29 2.59% 25,978,845 NYSE: No mentions found.

American Express AXP $40.96 +1.77 4.52% 14,682,573 NYSE: WSJ pC5 "Halliburton Rallies: Chevron Rises 2.6%" BY Donna Yesalavich says stocks rose broadly Wed, led by the energy sector as investors viewed recent declines in Halliburton, Baker Hugher and Exxon as overdone, while a better than expected report on pending home sales also boosted sentiment. Among the Dow's top performers, American Express jumped 4.5%. Disney which is charted under Good News as he mouse roared on a big day for he Dow industrials as the chairman of Disney's consumer products biz said the firm is targeting $50 bil in retail sales within the next 5 years. Chevron was up 2.6% as it and Exxon had been beaten down with the rest of he sector in recent weeks as crude oil futures have fallen and worries over the B oil spill have increased.

Bank of America BAC $15.89 +0.45 2.91% 124,869,585 NYSE: WSJ pC3 "Prison Sentence in Merrill Theft" by David Benoit says a former stockbroker was sentenced to 2 to 6 years in prison for stealing $780,000 from Merrill Lynch to buy himself a Ferrari.

USA Today "Stocks surge on home sales, energy bets" by Bloomberg says US stocks rallied Wed, with benchmark indexes rebounding from near 3 month lows, as home sales topped forecast and investors speculated he recent drop in energy shares overshot risks from he Gulf of Mexico oil spill. Bank of America rose 46 cents after CEO Brian Moynihan said BofA did not have huge direct exposure to Europe and that stabilizing loan demand bodes well for the economy.

Boeing BA $64.34 +1.39 2.21% 4,519,136 NYSE: No mentions found.

Caterpillar CAT $60.86 +1.59 2.68% 9,132,324 NYSE: No mentions found.

Chevron CVX $74.13 +.84 2.55% 15,120,026 NYSE: WSJ pC5 "Halliburton Rallies: Chevron Rises 2.6%" BY Donna Yesalavich says stocks rose broadly Wed, led by the energy sector as investors viewed recent declines in Halliburton, Baker Hugher and Exxon as overdone, while a better than expected report on pending home sales also boosted sentiment. Among the Dow's top performers, American Express jumped 4.5%. Disney which is charted under Good News as he mouse roared on a big day for he Dow industrials as the chairman of Disney's consumer products biz said the firm is targeting $50 bil in retail sales within the next 5 years. Chevron was up 2.6% as it and Exxon had been beaten down with the rest of he sector in recent weeks as crude oil futures have fallen and worries over the B oil spill have increased.

Cisco CSCO $23.35 +0.35 1.52% 44,829,043 NASDAQ-GS: No mentions found.

Coke KO $52.39 +1.10 2.14% 8,506,278 NYSE: No mentions found.

Disney DIS $34.74 +1.41 4.23% 18,044,162 NYSE: WSJ pC5 "Halliburton Rallies: Chevron Rises 2.6%" BY Donna Yesalavich says stocks rose broadly Wed, led by the energy sector as investors viewed recent declines in Halliburton, Baker Hugher and Exxon as overdone, while a better than expected report on pending home sales also boosted sentiment. Among the Dow's top performers, American Express jumped 4.5%. Disney which is charted under Good News as he mouse roared on a big day for he Dow industrials as the chairman of Disney's consumer products biz said the firm is targeting $50 bil in retail sales within the next 5 years. Chevron was up 2.6% as it and Exxon had been beaten down with the rest of he sector in recent weeks as crude oil futures have fallen and worries over the B oil spill have increased.

DuPont DD $36.19 +0.95 2.7% 5,714,326 NYSE: No mentions found.

ExxonMobil XOM $60.77 +1.52 2.57% 27,432,430 NYSE: WSJ pC5 "Halliburton Rallies: Chevron Rises 2.6%" BY Donna Yesalavich says stocks rose broadly Wed, led by the energy sector as investors viewed recent declines in Halliburton, Baker Hugher and Exxon as overdone, while a better than expected report on pending home sales also boosted sentiment. Among the Dow's top performers, American Express jumped 4.5%. Disney which is charted under Good News as he mouse roared on a big day for he Dow industrials as the chairman of Disney's consumer products biz said the firm is targeting $50 bil in retail sales within the next 5 years. Chevron was up 2.6% as it and Exxon had been beaten down with the rest of he sector in recent weeks as crude oil futures have fallen and worries over the B oil spill have increased.

GE $16.35 +0.37 2.32% 61,948,675 NYSE: No mentions found.

Hewlett-Packard HPQ $47.27 +1.69 3.71% 24,586,915 NYSE: No mentions found.

Home Depot HD $33.87 +0.33 0.98% 14,059,002 NYSE: No mentions found.

Intel INTC $21.81 +0.63 2.97% 60,648,485 NASDAQ-GS: No mentions found.

IBM $127.42 +3.08 2.48% 6,862,773 NYSE: No mentions found.

JPMorgan Chase JPM $39.55 +1.01 2.62% 38,848,094 NYSE: No mentions found.

Johnson & Johnson JNJ $59.73 +0.97 1.65% 15,027,986 NYSE: WSJ pB9 "J&J Recall Probe Expands to Others" by Jonathan Rockoff says a Congressional probe of Johnson & Johnson's unit's manufacturing problems is spreading beyond the firm's recent recall of its children's medicines to withdrawals of other over the counter products.

Kraft KFT $29.53 +0.63 2.18% 12,881,146 NYSE: No mentions found.

McDonalds MCD $67.77 +1.41 2.12% 5,661,912 NYSE: No mentions found.

Merck MRK $34.36 +0.83 2.48% 16,000,699 NYSE: No mentions found.

Microsoft MSFT $26.46 +0.57 2.2% 64,458,778 NASDAQ-GS: No mentions found.

Pfizer PFE $15.2 +0.21 1.4% 48,195,429 NYSE: No mentions found.

Procter & Gamble PG $61.74 +0.58 0.95% 12,743,546 NYSE: No mentions found.

3M MMM $78.74 +0.67 0.86% 5,707,247 NYSE: No mentions found.

Travelers TRV $49.78 +1.18 2.43% 4,951,726 NYSE: No mentions found.

United Technologies UTX $67.46 +1.41 2.13% 4,218,163 NYSE: No mentions found.

Verizon VZ $27.59 +0.38 1.4% 17,569,755 Dual Listed: No mentions found.

WalMart WMT $51.72 +0.80 1.57% 13,501,339 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