7/19/10 Mon. pm Dow Closes 10154.53 up 56.53 or 0.56%

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Post No. 540. 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.

The Dow Jones Industrial Average closed Monday at 10,154.53 up 56.53 or 0.56% from Friday's close of 10,097.9. Of the 30 Dow Companies: 22 gained and 8 declined. The biggest gainer dollar-wise was IBM $129.79 +1.76 1.37% 7,937,597 NYSE and percentage-wise was Intel INTC $21.59 +0.57 2.71% 63,275,724 NASDAQ-GS.
The biggest decliner dollar-wise was and percentage-wise was Bank of America BAC $13.61 -0.37 2.65% 314,148,985 NYSE.

As of the open of the market Monday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493 (it changed last 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.

Monday's Dow Jones Industrial Average closing numerator was 1,341.71 up 7.48 from Friday's closing numerator of 1334.23. 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 7.48 for Monday by the divisor (0.132129493) you get the increase in Monday's Dow of 56.63. 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 Monday's Dow Jones Industrial Average was $44.72 up 0.25 from Friday's Dow Jones Industrial Average average closing price of $44.47. The median closing price of Monday's Dow Jones Industrial Average was $40.31 up 0.62 from Friday's median price of $39.69. The lowest volume was Travelers TRV $49.71 +0.09 0.18% 2,608,298 NYSE and the highest volume again was Bank of America BAC $13.61 -0.37 2.65% 314,148,985 NYSE.

If Monday 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 $750 ($134,160 - $133,410).

MarketWatch 7/19/10 Mon. 5:01 pm by Kate Gibson says U.S. stocks closed with moderate gains Monday as positive earnings results from companies including Halliburton Co. took the upper hand, overriding economic data showing pessimism among home builders. The Dow Jones Industrial Average (DJIA 10,154, +56.53, +0.56%) closed up 56.53 points, or 0.6%, to 10,154.43, capping a choppy day that sent the index nearly 90 points higher intraday as well as into the red. Intel Corp. (INTC 21.28, -0.31, -1.44%) led the Dow with a 2.7% gain. Reuters cited a source close to the Federal Trade Commission reporting Intel had reached an initial agreement with the agency that will give it less flexibility in marketing its products but not cost it any money. Boeing Co. (BA 62.80, -0.38, -0.60%) shares added 2.1% after the jet maker disclosed a pair of big orders from Emirates and General Electric Co. (GE 14.56, -0.06, -0.41%) Bank of America Corp. (BAC 13.52, -0.09, -0.66%) fell the most among the blue chips, down 2.7% after analysts trimmed their outlooks for the bank after reviewing its earnings released last week. Of the 30 Dow components, eight closed lower. The S&P 500 Index (SPX 1,071, +6.37, +0.60%) closed up 6.37 points, or 0.6%, to 1,071.25, with utilities and tech leading all 10 industry groups higher.
The Nasdaq Composite Index (COMP 2,198, +19.18, +0.88%) added 19.18 points, or 0.9%, to 2,198.23. While technology companies were collectively higher, shares of Apple Inc. (AAPL 243.60, -1.98, -0.81%) slid 1.7%, with the company engaged in a public relations battle over its iPhone 4 as it prepares to release quarterly results on Tuesday. See details of what analysts expect from Apple. Airline stocks fall as Delta Air Lines is the first major U.S. carrier to report quarterly results. Delta swung to a profit, but also said it plans to add more capacity in 2011, dragging down the shares of other airlines. For every stock on the decline nearly two were rising on the New York Stock Exchange, where nearly 956 million shares traded hands. Volume was light, amounting to 74% of its 30-day average, according to FactSet Research. Helping lift the energy sector, Halliburton (HAL 29.17, +1.66, +6.03%) reported quarterly results that exceeded Wall Street's expectations. The upbeat report lifted Halliburton shares 6% and supported stocks in other oil-services firms including Schlumberger Ltd. (SLB 59.29, +0.14, +0.23%) and Baker Hughes Inc. (BHI 47.70, +1.70, +3.70%) Less promising were results from Hasbro Inc. (HAS 39.35, -0.15, -0.38%) , with the toy maker reporting a rise in earnings but a drop in sales, feeding worries about the impact of unemployment on consumer spending. Hasbro shares ended down 0.4%. Airline stocks were hit after Delta Air Lines Inc. (DAL 11.10, -0.28, -2.46%) reported revenues that fell short of expectations. Delta (DAL 11.10, -0.28, -2.46%) fell 2.9% and US Airways Corp. (LCC 8.56, -0.06, -0.70%) shares ended down 3.7%. The major stock indexes had come under pressure after findings from the National Association of Home Builders' confidence index, which fell from 16 in June to 14 in July, its lowest level since April 2009. Shares of home builders fell after the NAHB's release, with D.R. Horton Inc. (DHI 9.97, -0.13, -1.29%) , Lennar Corp. (LEN 14.07, +0.25, +1.78%) and Toll Brothers Inc. (TOL 16.22, -0.01, -0.06%) all closing off more than 1%. Ireland's credit rating on Monday drew a downgrade from Moody's, which warned the country is looking at a slow climb from recession amid escalating costs from bailing out its banks. Read more on Moody's downgrade. Ireland's cut to Aa2 comes one day before the scheduled sale of as much as 1.5 billion euros of Irish debt. International Business Machines /(IBM 124.48, -5.31, -4.09%) shares gained 1.4% ahead of its results, out after the close Monday.
Monday's slight gains followed losses on Wall Street on Friday, when the major indexes declined sharply after data showed a drop in consumer confidence.

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

AT&T T $24.88 +0.19 0.77% 18,923,182 NYSE
Alcoa AA $10.58 +0.17 1.63% 26,641,687 NYSE
Amex AXP $41.58 +0.20 0.48% 7,323,643 NYSE
Bank of America BAC $13.61 -0.37 2.65% 314,148,985 NYSE
Boeing BA $63.18 +1.28 2.07% 5,019,508 NYSE
Caterpillar CAT $64.8 +0.86 1.35% 6,817,615 NYSE
Chevron CVX $72 +0.50 0.7% 8,332,805 NYSE
CSCO $22.73 -0.02 0.09% 54,663,555 NASDAQ-GS
Coke KO $52.27 -0.10 0.19% 5,612,413 NYSE
Disney DIS $33.31 +0.28 0.85% 9,591,941 NYSE
DuPont DD $36.05 +0.07 0.19% 3,860,340 NYSE
Exxon XOM $58.43 +0.47 0.81% 20,896,980 NYSE
GE $14.62 +0.07 0.48% 48,801,533 NYSE
Hewlett-Packard HPQ $46.68 +0.48 1.04% 10,601,391 NYSE
Home Depot HD $27.07 -0.04 0.15% 17,042,107 NYSE
Intel INTC $21.59 +0.57 2.71% 63,275,724 NASDAQ-GS
IBM $129.79 +1.76 1.37% 7,937,597 NYSE
JPMorgan JPM $39.04 +0.04 0.1% 35,383,994 NYSE
Johnson & Johnson JNJ $59.57 +0.13 0.22% 10,272,387 NYSE
Kraft KFT $28.83 +0.0175 0.06% 5,004,002 NYSE
McDonald's MCD $69.91 -0.03 0.04% 5,070,111 NYSE
Merck MRK $35.8 -0.11 0.31% 10,099,060 NYSE
Microsoft MSFT $25.23 +0.34 1.37% 37,423,515 NASDAQ-GS
Pfizer PFE $14.73 +0.17 1.17% 32,694,555 NYSE
Procter & Gamble PG $61.86 -0.13 0.21% 9,641,780 NYSE
MMM $81.22 +0.27 0.33% 3,036,183 NYSE
Travelers TRV $49.71 +0.09 0.18% 2,608,298 NYSE
United Tec UTX $66.39 +0.36 0.55% 4,730,206 NYSE
Verizon VZ $26.72 +0.03 0.11% 14,934,978 Dual Listed
Walmart WMT $49.52 -0.15 0.3% 11,893,801 NYSE

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The following are excerpts from Monday morning's blog.

A read of Monday's (7/19) issue of Barron's, Investor's Business Daily, Wall Street Journal, Financial Times, New York Times, 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 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 was 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.

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.

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: fin times p18 "tough calls are queuing up for AT&T's CEO" by Andrew Parker says these are challenging times for Randall Stephenson, AT&T CEO as investors are worried about the impact of AT&t losing its position as the only US mobile network for Apple's iPhone within a year.

Daily Report p6 "unhappy with your iPHone? There's a suit for that" by Ann Woolner says there is a class action against Apple and AT&T by owners fed up with poor service and dropped calls.

Fin times p24 says Wall St. is epected Microsoft to report on Thurs that it caught the tailwind of renewed corp spending on tech during the latest quarter. Verizon reports earnings on Fri and AT&T, Caterpillar and American Express report on Thurs. IBM reports today.

Alcoa AA $10.41 -0.43 3.97% 28,153,919 NYSE: WSJ pB2 "Profits up but consumers struggle" by Paul Vigna says blue chips like Alcoa, Intel, JPMorgan and Google are hitting good numbers a week into 2Q earnings seasons but investors are still worried due to the high 9.5% unemployment rate.

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: Fin times p24 says Wall St. is epected Microsoft to report on Thurs that it caught the tailwind of renewed corp spending on tech during the latest quarter. Verizon reports earnings on Fri and AT&T, Caterpillar and American Express report on Thurs. IBM reports today.

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: 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 p1 & 16 "Dream works First overseas trip for Boeing 787, Wall St. Journal pB1 USA Today p4B "Boeing displays Dreamliner", NYT Times pB17,AJC pA6 "After years of delay, Boeing's 787 arrives" says it touched down on British ssoil Sun at the Farnborough Int'l Airshow.

Fin times p15 "EADS sets course of $10 bil US purchase" by Pilita Calrk says EADS has a lot of cash and may acquire related firms in the US to due deal with the fact that Airbus and Boeing are facing competition from other aircraft manufacturers.

Fin Times p16 "Airbus & Boeing pbeat on orders" by Pilita Clark is an update from the Farnborough air show.

Fin times has a special report today entitled "Aerospace" that is chockful of information about Boeing and its competitors.

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: Fin Times p12 "CEO who gets down and dirty" by Hal Weitzman is Monday's interview with the CEO of Caterpillar, Doug Oberhelamn who in Nov '10 will alsom become Chairman.

Fin times p24 says Wall St. is epected Microsoft to report on Thurs that it caught the tailwind of renewed corp spending on tech during the latest quarter. Verizon reports earnings on Fri and AT&T, Caterpillar and American Express report on Thurs. IBM reports today.

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: Fin times p 16 "toy Story 3 set to break disney records" by Matthew Garrahan says it will become the biggest gorssing animated fily ever released by Disney after doing $630.2 mil in its first month in cinemas, wth the film yet to screen in about half of the world's movie markets..

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: 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: WSJ pC5 "Bears & Bulls bet on IBM" by Brendan Conway says the options market are betting that IBM's earnings will be up when they report today.

Fin times p24 says Wall St. is epected Microsoft to report on Thurs that it caught the tailwind of renewed corp spending on tech during the latest quarter. Verizon reports earnings on Fri and AT&T, Caterpillar and American Express report on Thurs. IBM reports today.

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: 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: WSJ pC1 "J&J Needs toa ssemble a first aid plan" by Jonathan rockoff says manufacturing problems a Johnson & Johnson's Tylenol plants ahve given it a headache. It has had 6 drug recalls since Dept. When it reports 2Q earnings on Tues, it its only guidance is that recalled products average $650 mil in annual sales. Last year JNJ had rev of $62 bil

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: No mentions found.

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: Fin times p24 says Wall St. is epected Microsoft to report on Thurs that it caught the tailwind of renewed corp spending on tech during the latest quarter. Verizon reports earnings on Fri and AT&T, Caterpillar and American Express report on Thurs. IBM reports today.

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:

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: Fin times p24 says Wall St. is epected Microsoft to report on Thurs that it caught the tailwind of renewed corp spending on tech during the latest quarter. Verizon reports earnings on Fri and AT&T, Caterpillar and American Express report on Thurs. IBM reports today.

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.