7/17/10 Sat. BofA's & GE's 2Q Profit Up on Declining Rev

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Post No. 537. 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 7/11/10 and an update of the Dow 30 component's SEC filings as of 7/11/10.

A read of Saturday's issue of Wall Street Journal, Financial Times, New York Times, Atlanta Journal Constitution & Monday's (7/19) issue of Barron's & Investor's Business Daily 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 Friday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Friday at 10,097.9 down 261.41 or 2.52% from Thursday's close of 10,359.31. For the week the Dow is down 100.13 or 0.98% from last Friday's close of 10,198.03. For the year the Dow is down 3.17%. Of the 30 Dow Companies: all 30 declined. The biggest decliner dollar-wise was IBM $128.03 -2.69 2.06% 6,983,970 NYSE and percentage-wise was Bank of America BAC $13.98 -1.41 9.16% 437,325,834 NYSE.

WSJ pB1 "Optimism fades, as do stocks" by Mark Gongloff says after resisting for much of the week, the stock market finally toppled under a barrage of disappointing economic news and missed earnings report. Friday was the worst one day selloff since June 29. Every Dow component was down. The least bruised names ere relatively defensive firms like AT&T and Procter & Gamble, each down about 1%. The worst performers were Bank of America & Ge, down 9% and nearly 5%, respectively. Each reported 2Q earnings that beat Wall St. forecasts, but also declines in rev at an inopportune moment, just when the economy seems to be losing momentum.

WSJ pB11 "BofA drives Dow drop: goldman up" by Donna Yesalavich says stocks tumbled Fri as a decline in consumer sentiment added to the market's disappointment over weaker than expected @q rev at Bank of America, Citigroup and GE.

Fin times p14 "Fin'ls lower as weak earnings weigh on indices" by Masa Serarevic says US stocks fell yesterday as disappointing rev growth from a number of closely watched firms and weak consumer sentiment data undermined sentiment.

NYT pB7 "Wall St. stumbles on disappointing bank earnings" by Christine hauser says a week that began with Wall St. confident in the prospects for corp profits ended with a rout on Fri, as discouraging results from 2 of the nation's largest banks sent the stock market into a tailspin.

Inv. Bus. Daily pA1 "Stocks dive on banking concerns, consumer jitters" by Paul Whitfield says the major indexes plunged below their 50 day moving averages Fri as stocks took their hardest pounding in almost 3 weeks. Volume was up across the board due partly to options expirations.

As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B4 of today's Wall St. Journal is 0.132129493 (it changed on Thursday), the trailing P/E ratio is 14.35 down from Friday's 14.72 (year ago it was 13.04) the P/E estimate is 12.49 down from Friday's 12.51 (year ago it was 13.95) and the current dividend yield is 2.75 up from Friday's 2.68 (it was 3.29 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.

Friday's Dow Jones Industrial Average closing numerator was 1,334.23 down 34.54 from Thursday's closing numerator of 1368.77. 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 34.54 for Thursday by the divisor (0.132129493) you get the decrease in Thursday's Dow of 261.41. 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 Friday's Dow Jones Industrial Average was $44.47 down 1.16 from Thursday's Dow Jones Industrial Average average closing price of $45.63. The median closing price of Friday's Dow Jones Industrial Average was $39.69 down 2.26 from Thursday's median price of $41.95. The lowest volume was 3M MMM $80.95 -2.11 2.54% 4,291,549 NYSE and the highest volume again was Bank of America BAC $13.98 -1.41 9.16% 437,325,834 NYSE.

If Friday 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 $3,467 ($ $136,877 - $133,410).

MarketWatch 7/16/10 Fri. 4:40 pm by Donna Yesalavich says U.S. stocks plunged, as a double dose of discouraging earnings reports and concerns about the pace of the economic recovery wiped out the Dow Jones Industrial Average's gains for the week.
The Dow (DJIA 10,098, -261.49, -2.52%) , which snapped its seven-day winning streak on Thursday, closed down 261.41 points 2.5% to 10,097.90 and finished the week down 0.98%. The S&P 500 Index (SPX 1,065, -31.60, -2.88%) declined 31.60 points, or 2.9%, to 1064.88 to end the week down 1.2%. Both indexes have fallen in three out of the last four weeks. The stock market's deep slide upends a week that started on a strong note, as earnings from Alcoa Inc. (AA 10.43, +0.02, +0.19%) and Intel Corp. (INTC 21.01, -0.01, -0.05%) fueled optimism about the profits of U.S. corporations. But the gains proved hard to hold, with concerns about the outlook for the U.S. economy in the second half moving front and center in investors' minds. Those concerns are casting a harsh light on earnings from large financial corporations with deep roots in Main Street. Bank of America Corp.'s (BAC 13.98, -1.41, -9.16%) 9.2% drop led the blue chips lower, after a loss in its mortgage business and a falloff in Wall Street trading profits dragged on second-quarter results. Adding to the jitters was a report that showed consumer sentiment dropped to its worst level since March 2009, the latest in a string of downbeat data that slammed Wall Street.
Investors turned pessimistic about growth prospects for other major U.S. companies as Citigroup Inc. (C 3.92, +0.02, +0.51%) and General Electric Co. (GE 14.53, -0.02, -0.14%) posted lackluster results. There also were growing worries about how financial regulatory overhaul will hurt bank earnings, with financials posting the biggest declines on the S&P 500 on Friday, falling 4.4%. Citigroup shares fell 6.3% and J.P. Morgan Chase & Co. (JPM 38.97, -0.03, -0.08%) fell 3.6%. The Nasdaq Composite Index (COMP 2,179, -70.03, -3.11%) declined 3.1% to 2179.05 and finished the week down 0.8%. The index was weighed down by the 7% drop in Google Inc. (GOOG 460.00, +0.40, +0.09%) , which posted disappointing second-quarter results as its search business continued to show signs of slowing growth. Goldman Sachs Group Inc. (GS 146.44, +0.27, +0.19%) bucked the trend to rise 0.7%, although the stock was up as much as 4.7% earlier, after the investment bank's settlement with the Securities and Exchange Commission lifted a major overhang on the stock. Apple Inc. (AAPL 249.99, +0.09, +0.04%) shares, which flitted between small gains and losses, fell 0.6% after Chief Executive Steve Jobs said the company will give away free cases as a remedy for the antenna problems that have ravaged iPhone 4. BP PLC (BP 36.75, -0.35, -0.94%) slipped 4.7%, although the oil giant's well integrity test survived the night as pressures steadily rose, showing that a newly placed cap might have the ability to completely shut in an overflowing well in the Gulf of Mexico. Despite Friday's declines, the stock is still up nearly 10% this week and has gained about 40% from the multiyear lows hit late last month. Other markets are flashing warning signals too. Interest-rate futures markets are signaling an increasing shift in expectations that the economy could fall back into recession after a brief recovery, with the September and December Eurodollar futures contracts heading for a rare inversion. That has in the past indicated a contracting economy. The Treasurys market continues to flag a slowdown in the economy. In contrast with stocks, bonds are up for the week with the 10-year yield down more than 0.1 percentage point. Bond yields move inversely to prices. In the currency markets, the dollar has been under pressure for some time -- the euro briefly breached the key $1.30 level on Friday -- as concerns about the U.S. economy dominate just as investors have become less worried about the euro zone.

AT&T T $24.69 -0.31 1.24% 33,262,228 NYSE: WSJ pB5 "Steve Jobs defends iPhone's antenna,"NYT pB1 "Apple goes on the offensive" by Miguel Helft, Inv. Bus Daily pA1 "Jobs: iPhone 4 issue overblow, offers bumpers to buyers" by Patrick Seitz say AT&T subscribers who want to return the iPhone can get a full refund and get out of their contract without penalties.

WSJ pB1 "Optimism fades, as do stocks" by Mark Gongloff says after resisting for much of the week, the stock market finally toppled under a barrage of disappointing economic news and missed earnings report. Friday was the worst one day selloff since June 29. Every Dow component was down. The least bruised names ere relatively defensive firms like AT&T and Procter & Gamble, each down about 1%. The worst performers were Bank of America & Ge, down 9% and nearly 5%, respectively. Each reported 2Q earnings that beat Wall St. forecasts, but also declines in rev at an inopportune moment, just when the economy seems to be losing momentum.

Alcoa AA $10.41 -0.43 3.97% 28,153,919 NYSE: Barron's pM9 "Current Yield" by Randall W. Forsyth says Alcoa, CSX and Intel cleared the bar of low earnings expectations.

Amex AXP $41.38 -2.05 4.72% 14,136,816 NYSE: Barron's p17 "Week Preview" says on Mon. 7/19 IBM kicks off a busy week for earnings reports (2Q) and the consensus estimate is $2.58 a share versus $2.32 a year ago; Johnson & Johnson reports 2Q earnings on Tuesday 7/20 with consensus earnings of $1.21 vs. a year ago of $1.15 (also on Tues. GE meets with analysts in London); on Wed. 2/21 Coke reports; on Thurs 7/22 American Express reports earnings.

Barron's p24 "Concur" by Mark Veverka profiles Concur Technologies which holds 20 of the market for expense management software and is 13% owned by Americn Express which controls almost 70% of the world market for corporate cards.

Bank of America BAC $13.98 -1.41 9.16% 437,325,834 NYSE: NYT pB3 "Poor trading results take toll on profits at both Citigroup & BofA" by Eric Dash,Inv. Bus. Daily PA1 "BofA, Citip Top, but shares fall", AJC pA11 "Citi, Bank of America beat earnings prediction" say Bank of America reported earnings that rose in the April - June period as loan losses fell. BofA's 2Q net income rose 15% to $2.78 bil or 27 cents per share compared to $2.42 bil a year earlier beating analysts' expectations of 22 cents per share.

WSJ pB1 "BofA sees big tab in overhaul" by Dan Fitzpatrick says Bank of America rattled investors Fri with weak 2Q and a warning that fin'l overhaul legsilation could cost it as much as $43 bil a year in lost rev, plus a one time charge of $7 bil to $10 bil. Analysts were surprised at the estimate of lost rev, whch came on a day when the bankr eported a @q profit of $3.1 bil, down 3% from the same period a eyar ago. JPMorgan which reported earnings Thurs, didn't break out any regulatory overhaul estimates.

WSJ pB1 "Optimism fades, as do stocks" by Mark Gongloff says after resisting for much of the week, the stock market finally toppled under a barrage of disappointing economic news and missed earnings report. Friday was the worst one day selloff since June 29. Every Dow component was down. The least bruised names ere relatively defensive firms like AT&T and Procter & Gamble, each down about 1%. The worst performers were Bank of America & Ge, down 9% and nearly 5%, respectively. Each reported 2Q earnings that beat Wall St. forecasts, but also declines in rev at an inopportune moment, just when the economy seems to be losing momentum.

WSJ pB16 "Bank results have glass again looking half empty" by David Reilly says falling credit costs bolstered earnings at Bank of America, Citigroup and JPMorgan. The outlook was good: provision expenses and net charge offs of loans are likely to continue declining in coming quarters. But investors want growth in banks' lending businesses.

Barron's p17 "Week Review" says JPMorgan Chase posted a 76% rise in 2Q profits, to $1.09 a share, more than analysts estimated but deemed acceptable by his CEO. Bank of America and Citigroup posted better thane expected profit on lower credit losses, but investment banking profits fell.

Barron's pM3 "Big profits don't generate musch swagger" by Kopin Tan says profits last quarter jumped 76% at JPMorgan and 34% at Intel to a $2.9 bil profit. But forecasts remain cautious due to the world's debt burden, underemployed masses and the necessary fiscal austerity. Even when firms beat profit projections as Bank of America, Citigroup and GE did, investors wanted to see strong rev growth.

Barron's pM2 charts Bank of America saying it reported disappointing June quarter results as a decline in Wall St. trading profits and a poor mortgage biz hurt.

Boeing BA $61.9 -2.47 3.84% 7,003,045 NYSE: Fin Times p16 "Jets the two of us" says Boeing and Airbus have acknowledged a threat from smaller rivals. Ahead of next week's Farnborough Air Show, the world's largest aerospace festival, Boeing CEO Jim McNerney siad "This cozy world of just the 2 of us is almost over." Canada's Bombardier, China's Comac and Russia's Irkut are developing 150 seat short haul workhorses. Brazil's Embraer has cornered the regional jet market for sub 120 seat aircraft and all play up their jets' fuel efficiency and quietness.

Barron's p15 "Editorial" by Thomas Donlan says after 10 years of trying, the Air Force still has no new planes, and Boeing still has no new stream of rev. The US gov is criticized for inaction saying if all goes well from here the earlier the first Air Froce tanker will be delivered is 10 years from now.

Caterpillar CAT $63.94 -2.57 3.86% 8,475,751 NYSE: No mentions found.

Chevron CVX $71.5 -1.54 2.11% 12,052,464 NYSE: No mentions found.

Cisco CSCO $22.75 -1.17 4.89% 77,035,905 NASDAQ-GS: No mentions found.

Coke KO $52.37 -0.48 0.91% 9,744,715 NYSE: Barron's p17 "Week Preview" says on Mon. 7/19 IBM kicks off a busy week for earnings reports (2Q) and the consensus estimate is $2.58 a share versus $2.32 a year ago; Johnson & Johnson reports 2Q earnings on Tuesday 7/20 with consensus earnings of $1.21 vs. a year ago of $1.15 (also on Tues. GE meets with analysts in London); on Wed. 2/21 Coke reports; on Thurs 7/22 American Express reports earnings.

Disney DIS $33.03 -1.02 3% 13,012,662 NYSE: No mentions found.

DuPont DD $35.98 -1.19 3.2% 8,491,145 NYSE: No mentions found.

Exxon XOM $57.96 -1.31 2.21% 35,792,561 NYSE: No mentions found.

GE $14.55 -0.70 4.59% 125,273,511 NYSE: WSJ pB5 "GE's earnings rise, ending a losing streak" by Paul Galder, NYT pB3 "GE rev falls short of forecasts, despite strength in finance & health" by Susanna Kim say GE saw its profit rise for the 1st time since the depths of the fin'l crisis. The gains were driven by its GE Capital div, which was hit hard during the credit crisis and weighed down the entire fir. GE's 2Q profit rose 16% to $3.11 bil ro 28 cents a share from $2.69 bil or 25 cents a share a year earlier, the first time its earnings have increased since 4Q of '07. Profit at GE Capital rose by $399 mikl to $830 mil but combined profit at the firm's industrial divisions fell $89 mil to $3.61 bil. Rev slipped 4.3% to $37.44 bil, below what analysts expected, as combined rev at the industrials fell 6%.

WSJ pB1 "Optimism fades, as do stocks" by Mark Gongloff says after resisting for much of the week, the stock market finally toppled under a barrage of disappointing economic news and missed earnings report. Friday was the worst one day selloff since June 29. Every Dow component was down. The least bruised names ere relatively defensive firms like AT&T and Procter & Gamble, each down about 1%. The worst performers were Bank of America & Ge, down 9% and nearly 5%, respectively. Each reported 2Q earnings that beat Wall St. forecasts, but also declines in rev at an inopportune moment, just when the economy seems to be losing momentum.

Barron's p17 "Week Preview" says on Mon. 7/19 IBM kicks off a busy week for earnings reports (2Q) and the consensus estimate is $2.58 a share versus $2.32 a year ago; Johnson & Johnson reports 2Q earnings on Tuesday 7/20 with consensus earnings of $1.21 vs. a year ago of $1.15 (also on Tues. GE meets with analysts in London); on Wed. 2/21 Coke reports; on Thurs 7/22 American Express reports earnings.

Barron's pM3 "Big profits don't generate musch swagger" by Kopin Tan says profits last quarter jumped 76% at JPMorgan and 34% at Intel to a $2.9 bil profit. But forecasts remain cautious due to the world's debt burden, underemployed masses and the necessary fiscal austerity. Even when firms beat profit projections as Bank of America, Citigroup and GE did, investors wanted to see strong rev growth.

Barron's p15 "Wary eyes on the China Pattern" by Vito Racanelli says GE CEO's Jeff Immelt's comment that doing business in China is getting tougher struck a nerve in China.

Hewlett-Packard HPQ $46.2 -1.22 2.57% 13,343,300 NYSE: No mentions found.

Home Depot HD $27.11 -1.23 4.34% 21,840,727 NYSE: No mentions found.

Intel INTC $21.02 -0.49 2.28% 80,300,659 NASDAQ-GS: Barron's pM3 "Big profits don't generate musch swagger" by Kopin Tan says profits last quarter jumped 76% at JPMorgan and 34% at Intel to a $2.9 bil profit. But forecasts remain cautious due to the world's debt burden, underemployed masses and the necessary fiscal austerity. Even when firms beat profit projections as Bank of America, Citigroup and Ge did, investors wanted to see strong rev growth.

Barron's p29 "Tech trader" p29 also says Intel is still a screaming buy especially afer rev came in 34% year over year.

Barron's p14 "Intel's in the chips" by Jacqueline Doherty takes an opposite view from Savitz & says despite Intel's pheomenal 2Q earnings, the stock remains inexpensive, due in part to investors' fears of a double dip recession.

IBM $128.03 -2.69 2.06% 6,983,970 NYSE: Barron's p17 "Week Preview" says on Mon. 7/19 IBM kicks off a busy week for earnings reports (2Q) and the consensus estimate is $2.58 a share versus $2.32 a year ago; Johnson & Johnson reports 2Q earnings on Tuesday 7/20 with consensus earnings of $1.21 vs. a year ago of $1.15 (also on Tues. GE meets with analysts in London); on Wed. 2/21 Coke reports; on Thurs 7/22 American Express reports earnings.

JPMorgan JPM $39 -1.46 3.61% 58,406,836 NYSE: WSJ pB1 "BofA sees big tab in overhaul" by Dan Fitzpatrick says Bank of America rattled investors Fri with weak 2Q and a warning that fin'l overhaul legsilation could cost it as much as $43 bil a year in lost rev, plus a one time charge of $7 bil to $10 bil. Analysts were surprised at the estimate of lost rev, whch came on a day when the bankr eported a @q profit of $3.1 bil, down 3% from the same period a eyar ago. JPMorgan which reported earnings Thurs, didn't break out any regulatory overhaul estimates.

WSJ pB16 "Bank results have glass again looking half empty" by David Reilly says falling credit costs bolstered earnings at Bank of America, Citigroup and JPMorgan. The outlook was good: provision expenses and net charge offs of loans are likely to continue declining in coming quarters. But investors want growth in banks' lending businesses.

Barron's pM3 "Big profits don't generate much swagger" by Kopin Tan says profits last quarter jumped 76% at JPMorgan and 34% at Intel to a $2.9 bil profit. But forecasts remain cautious due to the world's debt burden, underemployed masses and the necessary fiscal austerity. Even when firms beat profit projections as Bank of America, Citigroup and GE did, investors wanted to see strong rev growth.

Johnson & Johnson JNJ $59.44 -0.82 1.36% 17,520,175 NYSE: Inv. Bus. Daily pA9 "Covidien, J&J getting into people's heads" by Peter Benesh says last Mon Johnson & Johnson announced it will buy Micrus Endovascular of San Jose, Ca. for $480 mil in cash. It's a bolt on for J&J which has had a neuroscience biz since '64 when it bought Codman & Shurtless which now operates as Codman Neurovascular.

Barron's p17 "Week Review" says JPMorgan Chase posted a 76% rise in 2Q profits, to $1.09 a share, more than analysts estimated but deemed acceptable by his CEO. Bank of America and Citigroup posted better thane expected profit on lower credit losses, but investment banking profits fell.

Barron's p17 "Week Preview" says on Mon. 7/19 IBM kicks off a busy week for earnings reports (2Q) and the consensus estimate is $2.58 a share versus $2.32 a year ago; Johnson & Johnson reports 2Q earnings on Tuesday 7/20 with consensus earnings of $1.21 vs. a year ago of $1.15 (also on Tues. GE meets with analysts in London); on Wed. 2/21 Coke reports; on Thurs 7/22 American Express reports earnings.

Kraft KFT $28.8125 -0.5075 1.73% 12,119,121 NYSE: No mentions found.

McDonalds MCD $69.94 -1.39 1.95% 5,970,212 NYSE: AJC pA11 "McDonald's won't offer free smoothie samples" says MCD is scrapping plans to offer free samples because it may run out.

Merck MRK $35.91 -0.58 1.59% 16,522,249 NYSE: No mentions found.

Microsoft MSFT $24.89 -0.62 2.43% 65,043,860 NASDAQ-GS: Barron's pM3 "Big profits don't generate much swagger" by Kopin Tan says Microsoft is in a group of S&P 500 firms of 28 that have insiders owning more than 10% of shares and are cash rich which means there is an incentive under new tax laws to pay out dividends before tax rates go up in '12.

Barron's p19 "Cover story on Google" by Kopin Tan says Google's stock is undervalued by 35% or more even though Internet users are being wooed by Microsoft's Bing and mobile-gadgeteer Apple. Google's tock is compred to Apple, yahoo, Microsoft, Baidu & Internet Software

Pfizer PFE $14.56 -0.31 2.08% 47,726,240 NYSE: No mentions found.

Procter & Gamble PG $61.99 -0.74 1.18% 14,114,501 NYSE: WSJ pB1 "Optimism fades, as do stocks" by Mark Gongloff says after resisting for much of the week, the stock market finally toppled under a barrage of disappointing economic news and missed earnings report. Friday was the worst one day selloff since June 29. Every Dow component was down. The least bruised names ere relatively defensive firms like AT&T and Procter & Gamble, each down about 1%. The worst performers were Bank of America & GE, down 9% and nearly 5%, respectively. Each reported 2Q earnings that beat Wall St. forecasts, but also declines in rev at an inopportune moment, just when the economy seems to be losing momentum.

3M MMM $80.95 -2.11 2.54% 4,291,549 NYSE: No mentions found.

Travelers TRV $49.62 -0.68 1.35% 5,935,793 NYSE: No mentions found.

United Tech UTX $66.03 -2.12 3.11% 4,477,532 NYSE: No mentions found.

Verizon VZ $26.69 -0.11 0.41% 21,617,040 Dual Listed: No mentions found.

Walmart WMT $49.67 -0.74 1.47% 15,894,001 NYSE: Inv. Bus. Daily pA2 "Walmart sales profit outlook cut" says WMT fell after Sanford Bernstein cut the firm's profit and sales estimates saing 2Q same store sales will decline 0.5% changing its earlier estimate of a 1.5% increase.

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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 Richard 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 7/11/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $276 [4.5]
2. Procter & Gamble PG 247.5 [4]
3. Microsoft MSFT 212.5 [9]
4. WalMart WMT 183.5 [4]
5. Johnson & Johnson JNJ 167 [3]
6. IBM 164 [1]
7. GE 159.5 [10.5]
8. JPMorgan Chase 154.5 [4]
9. Bank of America BAC 151.5 [10]
10. AT&T 147 [6]
11. Chevron CVX 144 [2]
12. Cisco CSCO 129.5 [6]
13. Coke KO 121 [2.5]
14. Pfizer PFE 119 [8]
15. Merck MRK 113 [3]
16. Intel INTC 112.5 [5.5]
17. Hewlett-Packard HPQ 105.5 [2.5]
18. Verizon VZ 75.5 [3]
19. McDonald's MCD 74.5 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 63 [1]
22. 3M MMM 58.5 [1]
23. American Express AXP 51 [1]
24. Kraft KFT 50.5 [2]
25. Boeing BA 49 [1]
26. Home Depot 47.5 [1.5]
27. Caterpillar CAT 40.5 [.5]
28. DuPont DD 33.5 [1]
29. Travelers 25.5 [.5]
30. Alcoa AA 11 [1]

Here are the latest SEC filings as of 7/11/10 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: 6/25/10 8K: re: amendments to employee compensation plans.

5/24/10 8K: re: sale of its Sterling Commerce subsidiary to IBM for $1.4 billion in cash.

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: 6/15/10 8K re: delinquency statistics through 5/31/10.

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

Bank of Am BAC: 7/9/10 Free Writings Prospectuses

6/4/10 Free Writing Prospectuses

5/10/10 Rule 424(b) Prospectus

5/7/10 10-Q

Boeing BA: 6/10/10 8K re: election of Edward M. Liddy to Board of Dirs. & Audit & Fin. Committees. By-laws were amended to increase number of directors from 12 to 13.

4/28/10 8-K re: results of its Annual Meeting of Shareholders on April 26, 2010

Caterpiller CAT: 6/18/10 8K re: dealer statistics.

6/17/10 8K re: plans to produce a full range of mining shovels and increase dump truck production.

6/11/10 8K re: as previously announced, Board elected Douglas R. Oberhelman as CEO effective 8/1/10.

6/11/10 8K re: results of 6/9 annual meeting of shareholders.

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.

Disney DIS 10Q for quarter ended 4/3/10

DuPont DD: 4/29/10 8K re: voting results from annual meeting held on 4/28/10.

4/27/10 10Q

ExxonMobil XOM: 6/25/10 8K re: completion of its acquisition of XTO Energy Inc.

6/1/10 8K re: voting results from 5/26/10 Annual Meeting of Shareholders

5/6/10 10Q

GE: 6/11/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.

5/7/10 8K to update fin'l info from form 10K

5/7/10 10Q

Hewlett-Packard HPQ: 6/1/10 10Q

6/1/10 8K re: plans to invest $1 billion in its enterprise services business to enhance client experience and better position the business for growth.

5/18/10 8K re: 2Qtr results

Home Depot HD: 6/3/10 10Q

5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.

5/18/10 8K re: results for quarter ended 5/2/10

Intel INTC: 6/22/10 8K re: agreed upon suspension of FTC admin. proceedings while settlement discussions are held.

5/21/10 8K re: voting results from 5/19/10 annual meeting of stockholders.

5/12/10 8K re: info provided at an Investor meeting by Paul S. Otellini, Pres. & CEO.

5/7/10 8K re: Micron Technology, Inc. completed its acquisition of Numonyx Holdings BV & issued shares of common stock to Numonyx shareholders.

5/3/10 10Q

IBM: 5/12/10 8K re: information presented at Investor Briefing on 5/12/10.

4/29/10 8K re: voting results from annual meeting of stockholders on 4/27/10

4/27/10 10Q

JPMorganChase JPM: 6/24/10 8K re: closing of sale of $1.25 bil of 3.40% Notes due '15.

6/24/10 8K re: election of Douglas L. Braunstein as CFO.

5/26/10 8K re: Washington Mutual Litigations.

5/20/10 8K re: voting results from 5/18/10 annual meeting of shareholders

5/10/10 10Q

Johnson & Johnson JNJ : /10/10 10 Q

Kraft KFT: 5/21/10 8K: re voting results from 5/18/10 annual meeting of shareholders

5/7/10 10Q

McDonalds MCD: 6/9/10 8K re: year to date sales figures

5/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting

5/17/10 additional proxy materials

5/11/10 8K re: press release re: April and year to date '10 sales.

5/6/10 10Q

Merck MRK: 7/8/10 8K re: global restructuring program in conjunction with the integration of the Schering-Plough acquisition; reduction of work force by 15% & closing of plants and research sites.

5/28/10 8K re: Kenneth C. Frazier to succeed Richard T. Clark as Pres. Of the Company as of 5/1/10 and Dr. Sam Their's retirement from the Board & voting results from 5/25/10 annual meeting of shareholders.

5/11/10 8K re: information presented at 5/11/10 Annual Business Briefing

5/7/10 10Q

Microsoft MSFT: 6/18/10 8K re: sale of $1.25 bil of Zero Coupon Convertible Sr. Notes due '13 (and related 6/9 8K).

5/28/10 8K re: retirement of Robbie Bach, pres. Of Entertainment & Devices Div.

Pfizer PFE: 5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.

5/13/10 10Q

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: 5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.

4/30/10 10Q

3M MMM: 6/28/10 8K re: projected sales range for 2Q '10.

5/17/10 8K re: reclassification of certain data in 10K for 12/31/09.

5/12/10 8K re: voting results of 5/11/10 annual meeting of stockholders.

5/5/10 10Q

Travelers TRV: 6/15/10 8K re: $1 bil 3 year revolving credit agreement.

5/7/10 8K re: voting results of 5/4/10 annual meeting of shareholders

4/23/10 10Q

United Technologies UTX: 5/14/10 8K re: exercise of its rights to redeem $500 mil of outstanding 7.125% Notes due 11/15/10.

4/26/10 10Q

Verizon Communications Inc. VZ: 7/1/10 8K re: completion of acquisition of Frontier Communications Corp. and spin off of shares to VZ shareholders.

6/11/10 8K re: agreement with certain unions.

5/27/10 8K re: record date of 6/7/10 re: proposed spin off of shares of New Communications Holdings.

5/12/10 8K re: voting results from 5/6/10 annual meeting of shareholders.

4/28/10 10Q

WalMart WMT: 7/7/10 8K re: underwriting to the public of several series of notes.

7/2/10 8K re: departure of John E. Fleming EVP & Chief Merchandizing Officer effective 8/1/10.

6/29/10 8K re: appointment of Eduwardo Castro-Wright as CEO fo global.com & William S. Simon as CEO of Walmart U.S.

6/9/10 8K re: results of 6/4 annual meeting of shareholders.

6/14/10 10Q.

5/18/10 8K reconciliation of non-GAP measures.