7/6/10 Tues am BofA's CEO Selection wasn't Unanimous

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Post No. 518. 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 6/4/10 and an update of the Dow 30 component's SEC filings as of 6/4/10.

A read of Tuesday's Wall Street Journal, Financial Times, New York Times, USA Today, 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 9,686.48 or 46.05 or 0.49% from Thursday's close of 9,732.53. For the week the Dow is down 457.33 or 4.51% from last Friday's close of 10,143.81. For the year the Dow is down 7.11%. Of the 30 Dow Companies: 4 gained,, American Express was unchanged and 25declined. The biggest gainers dollar-wise were Coke KO $50.14 +0.11 0.22% 6,962,488 NYSE and Microsoft MSFT $23.27 +0.11 0.47% 61,337,329 NASDAQ-GS and percentage-wise was GE $13.8675 -0.2525 1.79% 70,914,309 NYSE. The biggest decliner dollar-wise and percentage-wise was Verizon VZ $26.81 -1.32 4.69% 25,281,133 Dual Listed.

Fin Times p24 "Traders pin hopes ons olid results in 2Q" by Masa Serdarevic says investors will look to US firms to repeat last quarter's stellar earning performance when they begin reporting 2Q results next week.

NYT pB5 "European shares sldie, hurt by mining results" by Reuters says European shares fell to the lowest close in nearly 6 weeks on Mon, with mining firms weaker on a gloomier economic outlook and volumes thin as Wall St. was closed for 4th of July.

As of the open of the market Tuesday, 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 14.06 down from Friday's 14.15 (year ago it was 12.06) the P/E estimate is 11.95 unchanged from Friday's 12.60 (year ago it was 13.38) and the current dividend yield is 2.87 up from Friday's 2.85 (it was 3.46 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.

Friday's Dow Jones Industrial Average closing numerator was 1,281.71 down 5.79 from Thursday's closing numerator of 1287.50. 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 for Friday by the divisor (0.132319125) you get the decrease in Friday's Dow of . 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 $42.72 down 0.21 from Thursday's Dow Jones Industrial Average average closing price of $42.93. The median closing price of Friday's Dow Jones Industrial Average was $37.74 down $0.04 from Thursday's median price of $37.78. The lowest volume was Travelers TRV $48.54 -0.39 0.8% 2,662,128 NYSE and the highest volume again was Bank of America BAC $13.885- 0.135 0.96% 133,319,151 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 $609 ($128,780 - $128,171).

MarketWatch 7/2/10 Fri. 4:12 pm by Laura Mandaro says U.S. stocks failed to hold onto a brief late-session rally Friday, ending the worst week since May 7 with moderate losses. Hampered by a disappointing jobs report, the latest in a string of weak U.S. economic data, the Dow Jones Industrial Average (DJIA 9,686, -46.05, -0.47%) lost 46.05 points, or 0.5%, to 9,686.48, with all but four components ending lower. The S&P 500 (SPX 1,023, -4.79, -0.47%) fell 4.8 points, or 0.5%, to 1,022.58. The Nasdaq Composite (COMP 2,092, -9.57, -0.46%) fell 9.57 points, or 0.5%, to 2,091.79. For the week, the Dow lost 4.51%, the S&P 500 fell 5.03%, and the Nasdaq Composite sank 5.92%.

AT&T T $24.31 -0.03 0.12% 19,767,438 NYSE: No mentions found.

Alcoa AA $9.99 -0.06 0.6% 13,936,433 NYSE: No mentions found.

Amex AXP $39.48 unch unch 5,998,992 NYSE: No mentions found.

Bank of Am BAC $13.885- 0.135 0.96% 133,319,151 NYSE: WSJ pC1 "How BofA CEO Survived board split" by Dan Fitzpatrick says that the selection of Brian T. Moynihan was elected in Dec. as the new CEO the election was not unanimous as was claimed by the firm.

USA Today p1B "BofA's NFL credit card points near end" says the NFL is moving its affinity credit card biz from Bank of America to Barclays.

WSJ pC5 "Shuffling he decks How banks redefine Prop traders" by Jenny Strasburg says JPMorgan and Bak of America are reassigning their proprietary traders in anticipation of the new restrictions on proprietary trading in the fin'l reform overhaul bill.

Boeing BA $61.93 -0.33 0.53% 2,957,613 NYSE: WSJ pB5 "EADS CEO Louis Gallois criticized the response of Airbus rival Boeing to the WTO findings that condemned loans to Airbus as export subsidies.

Caterpillar CAT $59.18 -0.79 1.32% 7,268,350 NYSE: No mentions found.

Chevron CVX $67.37 -0.11 0.16% 7,922,547 NYSE: No mentions found.

Cisco CSCO $21.13 -0.13 0.61% 45,820,455 NASDAQ-GS: No mentions found.

Coke KO $50.14 +0.11 0.22% 6,962,488 NYSE: No mentions found.

Disney DIS $31.43 -0.06 0.19% 14,247,976 NYSE: WSJ pB2 "Media and tech confer in Sun Valley" by Jessica Vascellaro says Tues there is an annual Allen & co. media conference in Sun Valley, Idaho and among attendees will be Facebook CEO Mark Zuckerberg and Disney's CEO Bob Iger and News Corps's Rupert Murdoch.

WSJ pB1 "A 2-D eclipse stakes its claim in 3-D world" by Lauren Schuker says when Disney eleased Alice in Wonderland in March, 3D ticket sales accounted for 70% of its opening weekend take.

DuPont DD $34.1 -0.39 1.13% 5,433,725 NYSE: No mentions found.

Exxon XOM $56.7 +0.09 0.16% 28,965,848 NYSE: No mentions found.

GE $13.8675 -0.2525 1.79% 70,914,309 NYSE: No mentions found.

Hewlett-Packard HPQ $42.88 -0.01 0.02% 15,263,800 NYSE: WSJ pB7 "Dell puts hope in health services unit" by Ian Sherr says Dell is aiming for higher margins using Perot system's technology and will compete with Hewlett-Packard and IBM in the electronic medical records system arena. Dell is playing catch up with behind Hewlett-packard the largest computer maker in the world and IBM.

Home Depot HD $27.81 -0.11 0.39% 13,990,900 NYSE: No mentions found.

Intel INTC $19.2 -0.05 0.26% 57,432,910 NASDAQ-GS: No mentions found.

IBM $121.98 -0.59 0.48% 5,707,730 NYSE: WSJ pB7 "Dell puts hope in health services unit" by Ian Sherr says Dell is aiming for higher margins using Perot system's technology and will compete with Hewlett-Packard and IBM in the electronic medical records system arena. Dell is playing catch up with behind Hewlett-packard the largest computer maker in the world and IBM.

JPMorgan JPM $36.01 -0.07 0.19% 33,594,139 NYSE: Fin Times p16 "JPMorgan brushes aside bill concerns" by Gregory Meyer says JPMorgan, which last week bought a large energy and metals traders, has brushed aside industry concerns that legislation forcing banks to spin off swap trading desks would make its commodities biz less competitive.

WSJ pC5 "Shuffling he decks How banks redefine Prop traders" by Jenny Strasburg says JPMorgan and Bak of America are reassigning their proprietary traders in anticipation of the new restrictions on proprietary trading in the fin'l reform overhaul bill.

Johnson & Johnson JNJ $59.17 +0.10 0.17% 8,839,547 NYSE: No mentions found.

Kraft KFT $27.84 -0.16 0.57% 5,915,750 NYSE: No mentions found.

McDonalds MCD $66.24 -0.47 0.7% 4,525,501 NYSE: No mentions found.

Merck MRK $34.25 -0.19 0.55% 15,095,331 NYSE: WSJ pB5 "With patents expiring, Eli Lilly retools" by Peter Loftus says Eli Lilly's CEO John Lechleiter says he didn't think mergers improve research & development efforts and gives as examples Pfizer's purchase of Wyeth and Merck's takeover of Schering-Plough.

Microsoft MSFT $23.27 +0.11 0.47% 61,337,329 NASDAQ-GS: WSJ pB1 "MYSpace ads up for grabs" by Shira Ovide says news Corp. is in talks with Google, Microsoft and Yahoo about replacing MySpace's crucial search advertiising partnership with Google, which expires next month. google had agreed to make up to $900 mil in guaranteed payments for the right to sell small ads.

Pfizer PFE $14.17 -0.06 0.42% 34,297,791 NYSE: WSJ pB5 "With patents expiring, Eli Lilly retools" by Peter Loftus says Eli Lilly's CEO John Lechleiter says he didn't think mergers improve research & development efforts and gives as examples Pfizer's purchase of Wyeth and Merck's takeover of Schering-Plough.

Procter & Gamble PG $59.38 -0.16 0.27% 11,944,653 NYSE: No mentions found.

3M MMM $77.67 -0.88 1.12% 3,709,215 NYSE: No mentions found.

Travelers TRV $48.54 -0.39 0.8% 2,662,128 NYSE: No mentions found.

United Tech UTX $64.29 -0.10 0.16% 3,920,982 NYSE: No mentions found.

Verizon VZ $26.81 -1.32 4.69% 25,281,133 Dual Listed:

Walmart WMT $48 -0.34 0.7% 13,457,439 NYSE: WSJ pA15 "Walmart does Saul Alinsky" by William McGurn says Walmart is resorting to community organizing for jobs when it battles opponents opposed to new stores.

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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 1/2 billion as of 6/4/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $283 [4.5]
2. Procter & Gamble PG 244.5 [4]
3. Microsoft MSFT 229 [9]
4. WalMart WMT 190.5 [4]
5. GE 168 [10.5]
6. IBM 161 [1]
7. Johnson & Johnson JNJ 160 [3]
8. Bank of America BAC 155.5 [10]
9. JPMorgan Chase 152 [4]
10. Chevron CVX 144 [2]
11. AT&T 143 [6]
12. Cisco CSCO 132 [6]
13. Pfizer PFE 120 [8]
14. Coke KO 119 [2.5]
15. Intel INTC 117 [5.5]
16. Hewlett-Packard HPQ 108.5 [2.5]
17. Merck MRK 104 [3]
18. Verizon VZ 77 [3]
19. McDonald's MCD 72 [1]
20. Disney DIS 66.5 [2.5]
21. United Technologies UTX 61 [1]
22. 3M MMM 55 [1]
23. Home Depot 54.5 [1.5]
24. Kraft KFT 50 [2]
25. Boeing BA 47 [1]
26. American Express AXP 47 [1]
27. Caterpillar CAT 36.5 [.5]
28. DuPont DD 31 [1]
29. Travelers 24.5 [.5]
30. Alcoa AA 11 [1]

Here are the latest SEC filings as of 6/4/10 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: 5/24/10 8K: re: sale ofl its Sterling Commerce subsidiary to IBM for $1.4 billion in cash. Sterling Commerce provides business to business applications and integration solutions to more than 18,000 customers worldwide. AT&T expects the transaction to close in the second half of '10, subject to receipt of regulatory approvals . AT&T expects to record a one-time, pre-tax gain of $750 million for the quarter in which the transaction closes.

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: 6/2/10 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

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: 6/4/10 Free Writing Prospectuses

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: 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.

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

4/27/10 10Q

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

5/6/10 10Q

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

5/7/10 10Q

Hewlett-Packard HPQ: 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: 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. 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: 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: 6/3/10 Rule 424 Prospectus

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 : 5/10/10 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: 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: 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: 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: 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: 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: 5/27/10 8K re: record date of 6/7/10 re: proposed spinof 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: 6/14/10 10Q.

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