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Post No. 659 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
Your Blogger competed in the USAT National Age Group Olympic Distance Triathlon and the Sprint Championship Triathlon this weekend in Tuscaloosa & qualified for the 2011 World Championship in my age group in Beijing and am taking a few days off so my coverage of the Dow will be spotty until Friday 10/1/2010. Sorry for the inconvenience. Dan
The Dow Jones Industrial Average closed Wednesday at 10,835.28 down 22.86 or 0.21% from Tuesday's close of 10,858.14. Of the 30 Dow Companies: 8 gained and 22 declined. The biggest gainer dollar-wise was and percentage-wise was Boeing BA $65.97 +1.45 2.25% 5,847,344 NYSE. The biggest decliner dollar-wise was Procter & Gamble PG $60.62 -0.42 0.69% 11,368,802 NYSE and percentage-wise was DuPont DD $44.53 -1.14 2.5% 7,593,899 NYSE.
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 0.132129493, as of Monday the trailing P/E ratio is 14.39 down (year ago it was 15.66) the P/E estimate is 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 (it was 2.90 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 1,431.66 down 3.02 from Tuesday's closing numerator of 1,434.68. 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 3.02 for Wednesday by the divisor (0.132129493) you get the decrease in Wednesday's Dow of 22.86. 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 $47.72 down 0.10 from Tuesday's Dow Jones Industrial Average average closing price of $47.82. The median closing price of Wednesday's Dow Jones Industrial Average was $42.77 (AXP/HPQ) uo 0.12 from Tuesday's median closing price of 42.65. The lowest volume was 3M MMM $87.17 +0.13 0.15% 2,915,619 NYSE and the highest volume again was Bank of America BAC $13.11 -0.16 1.21% 156,418,080 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 $294 ($143,460 - $143,166).
MarketWatch 9/29/10 Wednesday 4:35 pm by Jonathan Cheng says U.S. stocks finished lower but off their lows Wednesday, with losses in the financial sector partly offset by gains in energy, as crude oil rallied to a seven-week high.
The Dow Jones Industrial Average (DJIA 10,835, -22.86, -0.21%) ended down 22.86 points, or 0.2%, to end at 10,835.28. The S&P 500 (SPX 1,145, -2.97, -0.26%) shed 2.97 points, or 0.3%, to end at 1,144.73, and the Nasdaq Composite (COMP 2,377, -3.03, -0.13%) edged down 3.03 points, or 0.1%, to 2,376.56. The blue-chip index was able to erase most of its morning’s losses after the Department of Energy said crude-oil stockpiles fell by 475,000 barrels to 357.9 million barrels, more than an expected 300,000-barrel decline. The steep drop, which comes after a summer marked by unusually high levels of stockpiling, helped oil prices jump to $77.45 a barrel after falling as low as $75.60 a barrel earlier in the morning.
Energy stocks led the S&P sectors as Sunoco (SUN 36.28, +0.02, +0.05%) rose 3.4%, Hess (HES 58.78, +0.59, +1.01%) gained 1% and Chevron (CVX 81.20, -0.08, -0.10%) added 0.5%. Exxon Mobil (XOM 61.59, -0.47, -0.76%) remained lower, off 0.8%. Rising oil prices weighed on consumer discretionary stocks, which were the worst performers of the day. Urban Outfitters (URBN 32.39, +0.43, +1.35%) dropped 8.4% and Starwood Hotels & Resorts (HOT 52.04, -0.10, -0.18%) shed 2.7% to lead the sector’s decliners. “For consumers, this is a huge part of their pocketbook,” said Thomas Villalta, portfolio manager for Jones Villalta Asset Management in Austin, Texas. Technology stocks were slightly in positive territory, helped by a 2.2% gain at Hewlett-Packard (HPQ 42.53, +0.91, +2.19%) , which led the Dow’s gainers after the company said revenue for the fiscal year would be between $131.5 billion and $133.5 billion, a range that compared favorably with the consensus forecast of $131.6 billion. Cisco Systems (CSCO 21.87, +0.01, +0.03%) rose fractionally, even though International Business Machines purchased a maker of Ethernet switches, putting the two tech giants in more direct competition. IBM (IBM 135.48, +0.59, +0.44%) rose 0.4%. On Tuesday, U.S. stocks ended higher as takeover deals and hopes for more Treasury buying by the Fed helped offset worries over weak consumer-confidence data. The Dow finished up 46 points after it reversed an 80-point slide earlier in the session. “Until we get into the midst of corporate earnings season in mid-late October, we’re going to see some volatility, with the possibility of some upward trending, especially if the Fed makes any action on securities purchases,” said Villalta of Jones Villalta. Speculation about more monetary easing in the U.S. has pushed the dollar lower in recent days. The U.S. Dollar Index (DXY 78.79, -0.23, -0.29%) , which measures the greenback against a basket of six currencies, hit its lowest level in eight months Wednesday morning, while the dollar sank to a two-week low against the yen before bouncing back up to trade at 83.67 yen recently. The move continued the dollar’s slide back toward the level it hit two weeks ago, just before Japanese authorities intervened in currency markets. The euro (USDEUR 0.7438, +0.0022, +0.2967%) edged up against the dollar, piercing the $1.3628 barrier after the European Commission proposed legislation that would strengthen its control over the economic policies of EU member states, including fines for breaching budget rules. Treasurys were modestly lower, with the yield on the benchmark 10-year note (UST10Y 2.50, +0.03, +1.30%) rising to just below the 2.50% mark, at 2.49%. “Policy analysts and the Fed are saying we’ve already taken interest rates to zero, we’ve already done this massive quantitative easing, and it really didn’t help the broad economy -- it helped big companies, financial companies and the stock market, but it did very little for the broad economy,” said Ben Halliburton, chief investment officer at Tradition Capital Management. Given the Fed’s internal reassessment of the first wave of quantitative easing, he added: “I don’t think it’s a foregone conclusion that quantitative easing will happen.” Hewlett-Packard shares find momentum after the computer giant offers an upbeat forecast for its fiscal year. Dell gains after the company says it will unveil a tablet computer in the next few weeks. MarketWatch's Rex Crum reports.
Gold futures (GCZ10 1,312, +1.30, +0.10%) hit another high as the dollar weakened, with the yellow metal edging above $1,310.50 an ounce. On the corporate front, shares of Green Mountain Coffee Roasters (GMCR 30.84, -0.22, -0.71%) fell 16% after the firm said the Securities and Exchange Commission was investigating its revenue-recognition practices. Oil giant BP (UK:BP. 421.00, +15.85, +3.91%) was also back in the headlines as incoming Chief Executive Officer Bob Dudley said he will restructure BP’s upstream business and create a new safety division, with the power to audit any part of the company’ operations. BP shares rose 1.8%. Family Dollar Stores (FDO 43.98, -0.07, -0.16%) rose 1.6% after the discounter topped the consensus earnings forecast and announced plans to buy back up to $750 million of its shares. Live Nation Entertainment (LYV 9.96, +0.11, +1.12%) gained 1.1% after reports that chairman Barry Diller had resigned his position amid turbulence at the concert-promotion giant. Meanwhile, Nintendo (NTDOY 32.80, -3.25, -9.02%) dropped 9% after the Japanese gaming company cut its profit and sales outlook, citing the strong yen and weaker-than-expected sales of its video-game consoles.
Wednesday's Closing Dow numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $28.71 -0.21 0.73% 27,235,163 NYSE
Alcoa AA $12.08 -0.14 1.15% 18,440,360 NYSE
AXP $43.01 -0.68 1.56% 7,888,553 NYSE
Bank of Am BAC $13.11 -0.16 1.21% 156,418,080 NYSE
Boeing BA $65.97 +1.45 2.25% 5,847,344 NYSE
Caterpillar CAT $79.99 +0.32 0.4% 7,939,874 NYSE
CSCO $21.87 +0.0075 0.03% 46,289,039 NASDAQ-GS
Chevron CVX $81.28 +0.40 0.49% 8,850,662 NYSE
Coke KO $58.76 -0.34 0.58% 7,870,981 NYSE
DIS $33.01 -0.21 0.63% 9,211,086 NYSE
DuPont DD $44.53 -1.14 2.5% 7,593,899 NYSE
Exxon XOM $61.59 -0.47 0.76% 21,157,753 NYSE
GE $16.36 -0.08 0.49% 44,093,896 NYSE
Hewlett-Packard HPQ $42.53 +0.91 2.19% 31,298,250 NYSE
Home Dep HD $31.81 unch unch 9,178,025 NYSE
Intel INTC $19.24 -0.265 1.36% 62,448,340 NASDAQ-GS
IBM $135.48 +0.59 0.44% 5,151,159 NYSE
JPMorgan JPM $38.41 -0.54 1.39% 40,175,797 NYSE
JNJ $62.31 -0.12 0.19% 9,589,911 NYSE
KFT $31.21 -0.27 0.86% 7,292,365 NYSE
MCD $74.45 -0.18 0.24% 4,668,079 NYSE
MRK $37.12 -0.13 0.35% 9,451,162 NYSE
MSFT $24.5 -0.1775 0.72% 44,277,667 NASDAQ-GS
PFE $17.4 -0.025 0.14% 42,292,178 NYSE
PG $60.25 -0.37 0.61% 9,709,339 NYSE
3M MMM $87.17 +0.13 0.15% 2,915,619 NYSE
ravelers TRV $51.99 -0.70 1.33% 3,179,069 NYSE
United Tech UTX $71.49 -0.11 0.15% 2,931,295 NYSE
Verizon VZ $32.66 -0.06 0.18% 16,002,927 DualListed
WMT $53.35 0.47 -0.87% 9,864,049 NYSE
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Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
Wednesday, September 29, 2010
Tuesday, September 28, 2010
9/28/10 Tues pm Dow Closes 10,858.14 up 46.1 or 0.43%
www.DowJonesMonitor.com
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 658 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
Your Blogger competed in the USAT National Age Group Olympic Distance Triathlon and the Sprint Championship Triathlon this weekend in Tuscaloosa & qualified for the 2011 World Championship in my age group in Beijing and am taking a few days off so my coverage of the Dow will be spotty until Friday 10/1/2010. Sorry for the inconvenience. Dan
The Dow Jones Industrial Average closed Tuesday at 10,858.14 up 46.1 or 0.43% from Monday's close of 10,812.04. Of the 30 Dow Companies: 22 gained and 8 declined. The biggest gainer dollar-wise was 3M MMM $87.04 +0.85 0.99% 2,587,365 NYSE and percentage-wise was Pfizer PFE $17.425 +0.255 1.49% 43,564,328 NYSE. The biggest decliner dollar-wise was Procter & Gamble PG $60.62 -0.42 0.69% 11,368,802 NYSE and percentage-wise was Cisco CSCO $21.8625 -0.2475 1.12% 64,746,804 NASDAQ-GS.
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 0.132129493, as of Monday the trailing P/E ratio is 14.39 down (year ago it was 15.66) the P/E estimate is 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 (it was 2.90 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.
Tuesday's Dow Jones Industrial Average closing numerator was 1,434.68 up 6.09 from Monday's closing numerator of 1,428.59. 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 6.09 for Tuesday by the divisor (0.132129493) you get the increase in Tuesday's Dow of 46.1. 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 $47.82 up 0.20 from Monday's Dow Jones Industrial Average average closing price of $47.62. The median closing price of Tuesday's Dow Jones Industrial Average was $42.654 (AXP/HPQ). The lowest volume was 3M MMM $87.04 +0.85 0.99% 2,587,365 NYSE and the highest volume again was Bank of America BAC $13.27 +0.03 0.23% 124,870,081 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 made $6003 ($143,460 - $142,860).
MarketWatch 9/28/10 Tuesday 4:40 pm by Kate Gibson says U.S. stocks rose Tuesday, strengthening into a firm finish, as Wall Street found comfort in corporate deals and earnings, which yielded upbeat developments in the pharmaceutical sector. “We just heard about Walgreen’s profits rising and there is a great deal of M&A, so companies are seeing bargains out there even with the significant run-up we had in September on a valuation basis,” said Art Hogan, chief market strategist at Jefferies & Co. Walgreen Co. (WAG 33.81, +3.46, +11.40%) reported profit climbed 8% in its fiscal fourth quarter on increased prescription-drug sales, with earnings per share beating expectations. Shares of the country’s biggest drugstore chain rallied 11%. Read more on Walgreen’s profit.
Drug developer Endo Pharmaceuticals Holdings Inc. (ENDP 33.10, +2.49, +8.13%) on Tuesday said it would acquire Qualitest Pharmaceuticals for $1.2 billion to diversify its stance in the generic-drug market. Endo gained 8.1%. Erasing an 80-point slide, the Dow Jones Industrial Average (DJIA 10,858, +46.10, +0.43%) saw its gains accelerate in late trade to finish up 46.10 points at 10,858.14, led by pharma giant Pfizer Inc. (PFE 17.40, -0.03, -0.14%) and chip maker Intel Corp. (INTC 19.45, -0.06, -0.28%). The S&P 500 Index (SPX 1,148, +5.54, +0.49%) climbed 5.54 points to 1,147.70, with all of its 10 sectors ending higher. Monsanto Co. (MON 48.70, -0.05, -0.10%) shares were among the hardest hit, falling 8.1% on increased worries about the performance of its new corn seeds and whether Europe would end restrictions on genetically modified crops. The Nasdaq Composite Index (COMP 2,380, +9.82, +0.41%) added 9.82 points to 2,379.59. The major indexes had fallen sharply earlier after a weaker-than-expected consumer-confidence number, but were back to flat on the day in less than two hours. “It appeared to me the PPT (Plunge Protection Team), dip buyers and others that just have to own them before the end of the quarter stepped up big time,” said Elliot Spar, market strategist at Stifel, Nicolaus & Co. Research In Motion and Jabil Circuit are among the notable decliners in the technology sector. But Hogan described Wall Street’s earlier drop as a “knee-jerk reaction” after the Conference Board reported its consumer-confidence index fell to 48.5 in September from 53.2 the prior month. Nevertheless, “people forget it’s not a forward-looking indicator,” added Hogan, who noted the Conference Board was making its calls at the end of August — a month in which “all we could hear about was the sky is falling and we’re surely headed for a double-dip recession. I would venture a guess the October reading is going to be better.” Separately, the S&P/Case-Shiller home-price index climbed a bit in July compared with a year ago, with the pace slower than in June, but still less bleak than many economists anticipated.
Research In Motion Ltd.’s (RIMM 46.93, +0.02, +0.04%) U.S. shares 3% fell after the BlackBerry maker’s tablet elicited a mixed response from analysts. For every stock falling, nearly three rose on the New York Stock Exchange, where more than 1 billion shares traded.
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $28.92 +0.05 0.17% 27,445,721 NYSE
Alcoa AA $12.22 +0.15 1.24% 30,122,819 NYSE
American Express AXP $43.69 +0.25 0.58% 6,562,051 NYSE
Bank of America BAC $13.27 +0.03 0.23% 124,870,081 NYSE
Boeing BA $64.52 +0.63 0.99% 3,583,121 NYSE
Caterpillar CAT $79.67 +0.13 0.16% 7,786,777 NYSE
Chevron CVX $80.88 +0.80 1% 7,832,083 NYSE
Cisco CSCO $21.8625 -0.2475 1.12% 64,746,804 NASDAQ-GS
Coke KO $59.1 +0.50 0.85% 9,942,008 NYSE
Disney DIS $33.22 -0.07 0.21% 12,866,444 NYSE
DuPont DD $45.67 +0.37 0.82% 5,777,108 NYSE
Exxon XOM $62.06 +0.35 0.57% 18,809,447 NYSE
GE $16.44 +0.01 0.06% 53,932,394 NYSE
Hewlett-Packard HPQ $41.62 +0.36 0.87% 26,569,436 NYSE
Home Depot HD $31.81 +0.21 0.66% 12,830,303 NYSE
Intel INTC $19.505 +0.27 1.4% 61,152,900 NASDAQ-GS
IBM $134.89 +0.24 0.18% 7,483,822 NYSE
JPMorgan JPM $38.95 -0.13 0.33% 31,442,541 NYSE
Johnson & Johnson JNJ $62.43 +0.40 0.64% 12,155,438 NYSE
Kraft KFT $31.48 -0.32 1.01% 7,905,133 NYSE
McDonald's MCD $74.63 -0.13 0.17% 7,050,285 NYSE
Merck MRK $37.25 +0.12 0.32% 12,725,699 NYSE
Microsoft MSFT $24.6775 -0.055 0.22% 56,041,120 NASDAQ-GS
Pfizer PFE $17.425 +0.255 1.49% 43,564,328 NYSE
Procter & Gamble PG $60.62 -0.42 0.69% 11,368,802 NYSE
3M MMM $87.04 +0.85 0.99% 2,587,365 NYSE
Travelers TRV $52.69 +0.53 1.02% 3,080,480 NYSE
United Technologies UTX $71.6 +0.69 0.97% 3,501,393 NYSE
Verizon VZ $32.72 -0.14 0.43% 19,436,412 Dual Listed
Walmart WMT $53.82 +0.34 0.64% 11,149,152 NYSE
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Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 658 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
Your Blogger competed in the USAT National Age Group Olympic Distance Triathlon and the Sprint Championship Triathlon this weekend in Tuscaloosa & qualified for the 2011 World Championship in my age group in Beijing and am taking a few days off so my coverage of the Dow will be spotty until Friday 10/1/2010. Sorry for the inconvenience. Dan
The Dow Jones Industrial Average closed Tuesday at 10,858.14 up 46.1 or 0.43% from Monday's close of 10,812.04. Of the 30 Dow Companies: 22 gained and 8 declined. The biggest gainer dollar-wise was 3M MMM $87.04 +0.85 0.99% 2,587,365 NYSE and percentage-wise was Pfizer PFE $17.425 +0.255 1.49% 43,564,328 NYSE. The biggest decliner dollar-wise was Procter & Gamble PG $60.62 -0.42 0.69% 11,368,802 NYSE and percentage-wise was Cisco CSCO $21.8625 -0.2475 1.12% 64,746,804 NASDAQ-GS.
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 0.132129493, as of Monday the trailing P/E ratio is 14.39 down (year ago it was 15.66) the P/E estimate is 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 (it was 2.90 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.
Tuesday's Dow Jones Industrial Average closing numerator was 1,434.68 up 6.09 from Monday's closing numerator of 1,428.59. 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 6.09 for Tuesday by the divisor (0.132129493) you get the increase in Tuesday's Dow of 46.1. 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 $47.82 up 0.20 from Monday's Dow Jones Industrial Average average closing price of $47.62. The median closing price of Tuesday's Dow Jones Industrial Average was $42.654 (AXP/HPQ). The lowest volume was 3M MMM $87.04 +0.85 0.99% 2,587,365 NYSE and the highest volume again was Bank of America BAC $13.27 +0.03 0.23% 124,870,081 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 made $6003 ($143,460 - $142,860).
MarketWatch 9/28/10 Tuesday 4:40 pm by Kate Gibson says U.S. stocks rose Tuesday, strengthening into a firm finish, as Wall Street found comfort in corporate deals and earnings, which yielded upbeat developments in the pharmaceutical sector. “We just heard about Walgreen’s profits rising and there is a great deal of M&A, so companies are seeing bargains out there even with the significant run-up we had in September on a valuation basis,” said Art Hogan, chief market strategist at Jefferies & Co. Walgreen Co. (WAG 33.81, +3.46, +11.40%) reported profit climbed 8% in its fiscal fourth quarter on increased prescription-drug sales, with earnings per share beating expectations. Shares of the country’s biggest drugstore chain rallied 11%. Read more on Walgreen’s profit.
Drug developer Endo Pharmaceuticals Holdings Inc. (ENDP 33.10, +2.49, +8.13%) on Tuesday said it would acquire Qualitest Pharmaceuticals for $1.2 billion to diversify its stance in the generic-drug market. Endo gained 8.1%. Erasing an 80-point slide, the Dow Jones Industrial Average (DJIA 10,858, +46.10, +0.43%) saw its gains accelerate in late trade to finish up 46.10 points at 10,858.14, led by pharma giant Pfizer Inc. (PFE 17.40, -0.03, -0.14%) and chip maker Intel Corp. (INTC 19.45, -0.06, -0.28%). The S&P 500 Index (SPX 1,148, +5.54, +0.49%) climbed 5.54 points to 1,147.70, with all of its 10 sectors ending higher. Monsanto Co. (MON 48.70, -0.05, -0.10%) shares were among the hardest hit, falling 8.1% on increased worries about the performance of its new corn seeds and whether Europe would end restrictions on genetically modified crops. The Nasdaq Composite Index (COMP 2,380, +9.82, +0.41%) added 9.82 points to 2,379.59. The major indexes had fallen sharply earlier after a weaker-than-expected consumer-confidence number, but were back to flat on the day in less than two hours. “It appeared to me the PPT (Plunge Protection Team), dip buyers and others that just have to own them before the end of the quarter stepped up big time,” said Elliot Spar, market strategist at Stifel, Nicolaus & Co. Research In Motion and Jabil Circuit are among the notable decliners in the technology sector. But Hogan described Wall Street’s earlier drop as a “knee-jerk reaction” after the Conference Board reported its consumer-confidence index fell to 48.5 in September from 53.2 the prior month. Nevertheless, “people forget it’s not a forward-looking indicator,” added Hogan, who noted the Conference Board was making its calls at the end of August — a month in which “all we could hear about was the sky is falling and we’re surely headed for a double-dip recession. I would venture a guess the October reading is going to be better.” Separately, the S&P/Case-Shiller home-price index climbed a bit in July compared with a year ago, with the pace slower than in June, but still less bleak than many economists anticipated.
Research In Motion Ltd.’s (RIMM 46.93, +0.02, +0.04%) U.S. shares 3% fell after the BlackBerry maker’s tablet elicited a mixed response from analysts. For every stock falling, nearly three rose on the New York Stock Exchange, where more than 1 billion shares traded.
Tuesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
AT&T T $28.92 +0.05 0.17% 27,445,721 NYSE
Alcoa AA $12.22 +0.15 1.24% 30,122,819 NYSE
American Express AXP $43.69 +0.25 0.58% 6,562,051 NYSE
Bank of America BAC $13.27 +0.03 0.23% 124,870,081 NYSE
Boeing BA $64.52 +0.63 0.99% 3,583,121 NYSE
Caterpillar CAT $79.67 +0.13 0.16% 7,786,777 NYSE
Chevron CVX $80.88 +0.80 1% 7,832,083 NYSE
Cisco CSCO $21.8625 -0.2475 1.12% 64,746,804 NASDAQ-GS
Coke KO $59.1 +0.50 0.85% 9,942,008 NYSE
Disney DIS $33.22 -0.07 0.21% 12,866,444 NYSE
DuPont DD $45.67 +0.37 0.82% 5,777,108 NYSE
Exxon XOM $62.06 +0.35 0.57% 18,809,447 NYSE
GE $16.44 +0.01 0.06% 53,932,394 NYSE
Hewlett-Packard HPQ $41.62 +0.36 0.87% 26,569,436 NYSE
Home Depot HD $31.81 +0.21 0.66% 12,830,303 NYSE
Intel INTC $19.505 +0.27 1.4% 61,152,900 NASDAQ-GS
IBM $134.89 +0.24 0.18% 7,483,822 NYSE
JPMorgan JPM $38.95 -0.13 0.33% 31,442,541 NYSE
Johnson & Johnson JNJ $62.43 +0.40 0.64% 12,155,438 NYSE
Kraft KFT $31.48 -0.32 1.01% 7,905,133 NYSE
McDonald's MCD $74.63 -0.13 0.17% 7,050,285 NYSE
Merck MRK $37.25 +0.12 0.32% 12,725,699 NYSE
Microsoft MSFT $24.6775 -0.055 0.22% 56,041,120 NASDAQ-GS
Pfizer PFE $17.425 +0.255 1.49% 43,564,328 NYSE
Procter & Gamble PG $60.62 -0.42 0.69% 11,368,802 NYSE
3M MMM $87.04 +0.85 0.99% 2,587,365 NYSE
Travelers TRV $52.69 +0.53 1.02% 3,080,480 NYSE
United Technologies UTX $71.6 +0.69 0.97% 3,501,393 NYSE
Verizon VZ $32.72 -0.14 0.43% 19,436,412 Dual Listed
Walmart WMT $53.82 +0.34 0.64% 11,149,152 NYSE
****************************
Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
Saturday, September 25, 2010
9/26/10 Sat/Sun Caterpillar Leads the Dow Up
www.DowJonesMonitor.com
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Post No. 657 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
YOur Blogger is competing in the USAT National Age Group Olympic Distance Triathlon and the Sprint Championship Triathlon this weekend in Tuscaloosa where, unfortunately, I cannot find print issues of the major US financial newspaper. Sorry. Below please find repeat of Friday's Blog.
The Dow Jones Industrial Average closed Friday at 10,662.42 down 76.89 or 0.72% from Thursday's close of 10,662.42. Of the 30 Dow Companies: all 30 gained and none declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE.
As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.39 down from Thursday's 14.49 (year ago it was 15.66) the P/E estimate is 12.76 unchanged from Thursday's 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 up from Thursday's 2.63 (it was 2.90 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 1,435.01 up 26.19 from Wednesday's closing numerator of 1,408.82. 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 26.19 for Friday by the divisor (0.132129493) you get the increase in Friday's Dow of 197.84. 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 $47.83 up 1.87 from Thursday's Dow Jones Industrial Average average closing price of $46.96. The median closing price of Tuesday's Dow Jones Industrial Average was $41.44 (JPM/AXP) up 0.71 from Thursday's Dow Jones median price of 40.73. The lowest volume was Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE and the highest volume again was Bank of America BAC $13.6 +0.43 3.26% 142,535,169 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 made $1,603 ($143,501 - $141,898).
MarketWatch 9/243/10 Friday 4:23 pm by Donna Yesalavich says U.S. stocks rose sharply Friday, ending their fourth-straight positive week on a strong note as signs of stabilization in durable goods and housing boosted investors’ appetite for risk. The Dow Jones Industrial Average (DJIA 10,860, +197.84, +1.86%) advanced 197.84 points, or 1.86%, to 10860.26, its biggest one-day rise since Sept. 1. All 30 of the measure’s components rose, led by a 4.6% jump in Caterpillar Inc. (CAT 79.73, +3.47, +4.55%) shares, a 3.9% climb in Alcoa, Inc. (AA 12.20, +0.46, +3.92%) and a 3.3% increase in Bank of America (BAC 13.60, +0.43, +3.26%) . The Dow rose 2.38% this week, extending its winning streak to a fourth week. The measure hasn’t had such a long weekly positive run since an eight-week advance that ended in April. In addition, the Dow is up 8.44% for the month, on pace for its biggest September gain since 1939 and the fifth-best September in the Dow’s history. The measure is now trading at its highest point since May. The Nasdaq Composite (COMP 2,381, +54.14, +2.33%) added 54.14, or 2.33%, to 2381.22. The Standard & Poor’s 500-stock index (SPX 1,149, +23.84, +2.12%) rose 23.84, or 2.12%, to 1148.67, with all sectors in positive territory. The industrial and financial sectors led the gains. The rally came after August results for U.S. durable-goods orders and sales of new homes, as investors took comfort in upward revisions in both areas for July, as well as increasing signs of stability. The durable-goods data showed gains in machinery, computers and fabricated-metal products, while a barometer of capital spending by businesses rose. New-home sales, meanwhile, were unchanged from July. The lack of a drop, combined with other readings on housing this week that topped expectations, provided relief to investors who had been fearful of further deterioration in the industry in the face of high unemployment. Stocks have sprung back into rally mode, as investors look at revisions to summer data suggesting August's concerns may have been overblown. Also, gold crosses the $1,300 threshold. “People may have been concerned about getting a very negative number there so you at least took the negative surprise off the table,” Lazorishak said. “The data is still consistent with the slower-growth environment rather than a double-dip,” which is giving investors some comfort, he added. Overseas, the market was bolstered by an unexpected rise in the Ifo index in Germany, a gauge of business sentiment. That helped ease near-term worries over a possible growth slowdown in Europe’s biggest economy. Read more on Germany’s IFO index. The euro (EURUSD 1.3489, +0.0177, +1.3296%) climbed against the dollar in response, rising to $1.3492. The U.S. Dollar Index (DXY 79.27, -0.62, -0.77%) , tracking the U.S. currency against a basket of six others, fell 0.9%. Crude-oil futures advanced above $76 a barrel, and gold futures rose to a fresh record high above $1,300 an ounce. The shift toward riskier assets such as stocks and commodities coincided with a move out of the safety of Treasurys, lifting the yield on the 10-year note (UST10Y 2.61, 0.00, 0.00%) to 2.61%. “So many people were moving their money into bonds that it’s a natural when you get too much excitement about one asset class the other asset class will start to run,” said Barry James, president and portfolio manager at the James Advantage funds. “It can really push the market a good deal.” Among stocks in focus, KB Home (KBH 12.11, +0.40, +3.42%) shares gained 3.4%. The home builder’s fiscal third-quarter loss narrowed significantly on sharply lower write-downs, while orders declined again following the expiration of a federal tax credit. Deliveries rose, as did the average selling price of a home.
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
A&T T $28.58 +0.07 0.25% 26,628,946 NYSE
Alcoa AA $12.2 +0.46 3.92% 30,862,436 NYSE
Amex AXP $43.13 +0.77 1.82% 10,150,105 NYSE
Bank of America BAC $13.6 +0.43 3.26% 142,535,169 NYSE
Boeing BA $64.6 +1.95 3.11% 4,626,836 NYSE
Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE
Chevron CVX $80.12 +1.58 2.01% 8,264,532 NYSE
CSCO $22.09 +0.56 2.6% 54,235,014 NASDAQ-GS
Coke KO $58.62 +0.75 1.3% 6,909,670 NYSE
DIS $33.58 +0.46 1.39% 10,657,032 NYSE
DuPont DD $45.58 +1.16 2.61% 5,474,677 NYSE
Exxon XOM $61.75 +0.60 0.98% 25,145,291 NYSE
GE $16.66 +0.52 3.22% 85,029,830 NYSE
Hewlett-Packard HPQ $40.98 +0.83 2.07% 24,550,959 NYSE
Home Depot HD $31.64 +0.80 2.59% 11,421,510 NYSE
Intel INTC $19.4225 +0.4425 2.33% 55,749,263 NASDAQ-GS
IBM $134.11 +2.44 1.85% 7,122,325 NYSE
JPMorgan JPM $39.7525 +0.6525 1.67% 28,855,020 NYSE
JNJ $62.14 +0.33 0.53% 12,636,804 NYSE
KFT $31.95 +0.68 2.17% 15,760,152 NYSE
MCD $75.1 +0.46 0.62% 5,848,031 NYSE
MRK $37.34 +0.68 1.85% 11,646,156 NYSE
MSFT $24.775 +0.345 1.41% 51,948,788 NASDAQ-GS
Pfizer PFE $17.4 +0.36 2.11% 33,718,057 NYSE
Procter & Gamb PG $61.64 +0.42 0.69% 10,604,191 NYSE
MMM $86.96 +1.43 1.67% 3,428,975 NYSE
Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE
United Tech UTX $71.5 +1.70 2.44% 2,991,096 NYSE
Verizon VZ $32.64 +0.47 1.46% 18,656,973 DualListed
Walmart WMT $54.08 +0.43 0.8% 9,769,122 NYSE
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Following are excerpts from Fri. morning's Blog.
A read of Friday's Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 10,662.42 down 76.89 or 0.72% from Wednesday's close of 10,739.31. For the year the Dow is up 2.25%. Of the 30 Dow Companies: 4 gained and 26 declined. The biggest gainer dollar-wise and percentage-wise was Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE. The biggest decliner dollar-wise was Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE and percentage-wise was Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE.
WSJ pC1 "Gold nearer to $1,300; Dow slumps" by Jonathan Cheng says investors pulled back from stocks for a 2nd straight day as gold inched closwer to the $1,300 oz level.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
NYT pB9 "Dreary data on jobs & Europe cools enthusiasm on Wall St" by AP says a Sept stock rally weakened on Thurs as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.
USA Today p6B "Stocks drop on news about jobs, banks" by Bloomberg says US stocks fell Thurs sending the S&P 500 lower for a 3rd day, as a deteriorating profit outlook for banks and an increase in jobless claims overshadowed a rally in tech shares.
Thursday's Dow Jones Industrial Average closing numerator was 1,408.82 down 10.16 from Wednesday's closing numerator of 1,418.98. 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 10.16 for Thursday by the divisor (0.132129493) you get the decrease in Thursday's Dow of 76.89. 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 Wednesday's Dow Jones Industrial Average was $46.96 down 0.34 from Tuesday's Dow Jones Industrial Average average closing price of $47.30. The median closing price of Tuesday's Dow Jones Industrial Average was $40.73 (JPM/AXP) down 0.44 from Wednesday's Dow Jones median price of 41.17. The lowest volume was 3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE and the highest volume again was Bank of America BAC $13.17 -0.25 1.86% 152,809,192 NYSE.
If Thursday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,018 ($141,898 - $140,880).
MarketWatch 9/23/10 Thursday 5:04 pm by Kate Gibson says U.S. stocks ended Thursday’s session lower after rising U.S. jobless claims and disappointing European economic data fed pessimism about the recovery.
“Stocks right now are priced for a double-dip recession. I don’t think that’s going to happen, but for right now the perception is very negative, and there isn’t enough change in reality to change the perception,” David Kelly, chief market strategist at JPMorgan Funds, of the mixed economic reports. “The pullback is partly a lack of fresh retail money going into the market,” Kelly added. The Dow Jones Industrial Average (DJIA 10,662, -76.82, -0.72%) ended down 76.89 points, or 0.7%, at 10,662.42, with all but four of its 30 components declining. The Standard & Poor’s 500 Index (SPX 1,125, -9.45, -0.83%) fell 9.45, or 0.8%, to 1,124.83, with financial companies falling the hardest among its sectors and technology stocks off the least. Red Hat shares surge after the software maker reports profit that exceeds analysts' expectations. The company's stock has risen more than 30% this year. The Nasdaq Composite Index (COMP 2,327, -7.47, -0.32%) fell 7.47 points, or 0.3%, to 2,327.08. Ahead of Wall Street’s start, stock index futures fell after the Labor Department said first-time claims for jobless benefits rose last week after a two-week decline. In Europe, Ireland’s economy contracted in the second-quarter, raising concern that austerity measures have only worsened the outlook for the economy and sovereign debt in the euro zone, where PMI data came in worse than expected. Read more on European stocks, economy. Wall Street had lessened its losses after the Conference Board reported its index of leading economic indicators rose 0.3% in August. “Today’s report indicates upward momentum, consistent with our view the economy will pick up again after a soft second quarter,” Nicholas Tenev, an analyst at Barclays Capital, said in a note. Separately, the National Association of Realtors said resales of single-family homes and condos rebounded 7.6% in August.“A little better-than-expected existing home sales preceded by a bounce in Apple Inc. (AAPL 289.47, +0.55, +0.19%) and the semiconductors set the stage for a terrific recovery,” noted Elliot Spar, chief market strategist at Stifel Nicolaus, about the earlier rebound. But the recovery stalled in the late afternoon, with the major indexes again lapsing into negative territory. For every stock on the rise two fell on the New York Stock Exchange, where 951 million shares traded.
Dow Jones Industrial Average Closing Numbers
AT&T T: $28.51 0.08 0.28% 23,838,901 NYSE: WSJ pB4 "Verizont o change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Aloca AA $11.74 +0.04 0.34% 39,794,817 NYSE: WSJ pC8 "China's growthfoils aluminum but Alumina could shine" by Liam Denning says Alcoa and Rusal, the world's largest aluminum producers said they favor severing using hedging to price aluminum in favor of switching to market pricing as a result of China increasing its smelting capacity.
Amex AXP $42.36 -0.43 1% 8,663,158 NYSE: WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
Bank of Am BAC $13.17 -0.25 1.86% 152,809,192 NYSE: WSJ pC1 "Second lookhelps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC3 "BofA Merrill starts derivative division" says the new division will handle customers' futures and derivatives trading.
Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE: Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
Caterpillar CAT $76.26 +0.08 0.11% 8,735,109 NYSE: No mentions found.
Chevron CVX $78.54 -0.71 0.9% 6,795,316 NYSE: No mentions found.
CSCO $21.53 -0.14 0.65% 36,002,070 NASDAQ-GS: No mentions found.
Coke KO $57.87 -0.36 0.62% 6,341,873 NYSE: AJC pA18 "Coke's goal: 5 million women entrepreneurs" by Jeremiah McWilliams says Coke plans to double the number of women in its supply chain to empower 5 million women throughout Coke's global business by 2020.
Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE: WSJ pB9 "Apple TV splits networks" by nat Worden says Disney's ABC and Fox ahve agreed to make their shows available for a new Apple 99 cent digital rental service for TV shows.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
DuPont DD $44.42 -0.20 0.45% 4,212,046 NYSE: No mentions found.
Exxon XOM $61.15 -0.30 0.49% 18,082,912 NYSE: No mentions found.
GE $16.14 -0.36 2.18% 53,012,533 NYSE: WSJ pB3 "GE chief slams US on energy" by Paul Glader says GE's CEO Jeff Immelt said US is falling behind China in clean tech, saying US policy is stupid.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE: No mentions found.
Home Depot HD $30.84 -0.04 0.13% 16,042,058 NYSE: No mentions found.
Intel INTC $18.98 -0.03 0.16% 51,900,318 NASDAQ-GS: WSJ pB4 "AMD warns of a sales shortfall" by Don Calrk says Advanced Micro Devices said it will have lower rev for 3Q than expected, the latest sign of softening consumer demand. Intel, AMD's major competitor, in late Aug ratcheted back its own 3Q forecasts but still calls for growth of 2% from the 2Q.
IBM $131.67 -0.90 0.68% 3,890,570 NYSE: No mentions found.
JPMorgan JPM $39.1 -0.84 2.1% 33,383,431 NYSE: WSJ pC1 "Second look helps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
JNJ $61.81 -0.16 0.26% 8,374,511 NYSE: No mentions found.
KFT $31.27 -0.04 0.13% 12,737,935 NYSE: No mentions found.
McDonalds MCD $74.64 -0.49 0.65% 5,914,063 NYSE: WSJ pB3 "McDonald's increases quarterly dividend by 11%" by Tess Stynes, Fin Times p15 "McDonald's in dividend raise" by Reuters, USA Today p1B "McDonald's fattens dividend," say this continues a series of increased payouts every year since it first paid dividends 34 years ago.
MRK $36.66 -0.30 0.81% 10,584,624 NYSE:
Microsoft MSFT $24.43 -0.18 0.73% 46,153,886 NASDAQ-GS: WSJ pB3 "FCC to open unused TV airwaves, extending WiFi's possibilities" by Amy Schatz, NYT pB3 "Broadbandis bolstered by changes from FCC" by Edwart Wyatt, USA Today p4B "FCC votes to pen up new world of super WiFi" by AP, say the FCC approved a plan to open vacant tv channels for wireless broadband, a win for high tech firms that have sought to use the airwaves for new services. Google, Microsoft & Dell are among the firms that have pushed the FCC to open up the airwaves and they have already been testing systems for using them.
Pfizer PFE $17.04 -0.18 1.05% 37,899,047 NYSE: No mentions found.
Procter & Gam PG $61.22 -0.57 0.92% 10,104,680 NYSE: No mentions found.
3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE: No mentions found.
TRV $52.4 +0.07 0.13% 4,685,345 NYSE: No mentions found.
United Tech UTX $69.8 -0.78 1.11% 3,401,335 NYSE: No mentions found.
Verizon VZ $32.17 -0.22 0.68% 15,970,337 Dual Listed: WSJ pB4 "Verizon to change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Fin Times p13 "Verizon signals resumption of mobile unit dividends in '12" by Paul Taylor says Verizon Communications said it might resume paing dividends at its Verizon Wireless jv with Vodafone in '12.
WSJ pC8 "Overheard" says Verizon's CEO Ivan Seidenberg said that when cable operators deny "cord-cutting, subscribers ditching cable and watching video on the Internet, it reminds him when the phone industry denied losing land line phone customers to cell phones.
WMT $53.65 -0.17 0.32% 7,289,444 NYSE: WSJ pB1 "Discounted Ebooks spark outcry from French shops" by Max Colchester says the in France, a law bans the sale of books for less than 5% below cover price to protect independent booksellers. Walmart and target are known for offering printed books at steep discounts.
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Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 657 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
YOur Blogger is competing in the USAT National Age Group Olympic Distance Triathlon and the Sprint Championship Triathlon this weekend in Tuscaloosa where, unfortunately, I cannot find print issues of the major US financial newspaper. Sorry. Below please find repeat of Friday's Blog.
The Dow Jones Industrial Average closed Friday at 10,662.42 down 76.89 or 0.72% from Thursday's close of 10,662.42. Of the 30 Dow Companies: all 30 gained and none declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE.
As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.39 down from Thursday's 14.49 (year ago it was 15.66) the P/E estimate is 12.76 unchanged from Thursday's 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 up from Thursday's 2.63 (it was 2.90 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 1,435.01 up 26.19 from Wednesday's closing numerator of 1,408.82. 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 26.19 for Friday by the divisor (0.132129493) you get the increase in Friday's Dow of 197.84. 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 $47.83 up 1.87 from Thursday's Dow Jones Industrial Average average closing price of $46.96. The median closing price of Tuesday's Dow Jones Industrial Average was $41.44 (JPM/AXP) up 0.71 from Thursday's Dow Jones median price of 40.73. The lowest volume was Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE and the highest volume again was Bank of America BAC $13.6 +0.43 3.26% 142,535,169 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 made $1,603 ($143,501 - $141,898).
MarketWatch 9/243/10 Friday 4:23 pm by Donna Yesalavich says U.S. stocks rose sharply Friday, ending their fourth-straight positive week on a strong note as signs of stabilization in durable goods and housing boosted investors’ appetite for risk. The Dow Jones Industrial Average (DJIA 10,860, +197.84, +1.86%) advanced 197.84 points, or 1.86%, to 10860.26, its biggest one-day rise since Sept. 1. All 30 of the measure’s components rose, led by a 4.6% jump in Caterpillar Inc. (CAT 79.73, +3.47, +4.55%) shares, a 3.9% climb in Alcoa, Inc. (AA 12.20, +0.46, +3.92%) and a 3.3% increase in Bank of America (BAC 13.60, +0.43, +3.26%) . The Dow rose 2.38% this week, extending its winning streak to a fourth week. The measure hasn’t had such a long weekly positive run since an eight-week advance that ended in April. In addition, the Dow is up 8.44% for the month, on pace for its biggest September gain since 1939 and the fifth-best September in the Dow’s history. The measure is now trading at its highest point since May. The Nasdaq Composite (COMP 2,381, +54.14, +2.33%) added 54.14, or 2.33%, to 2381.22. The Standard & Poor’s 500-stock index (SPX 1,149, +23.84, +2.12%) rose 23.84, or 2.12%, to 1148.67, with all sectors in positive territory. The industrial and financial sectors led the gains. The rally came after August results for U.S. durable-goods orders and sales of new homes, as investors took comfort in upward revisions in both areas for July, as well as increasing signs of stability. The durable-goods data showed gains in machinery, computers and fabricated-metal products, while a barometer of capital spending by businesses rose. New-home sales, meanwhile, were unchanged from July. The lack of a drop, combined with other readings on housing this week that topped expectations, provided relief to investors who had been fearful of further deterioration in the industry in the face of high unemployment. Stocks have sprung back into rally mode, as investors look at revisions to summer data suggesting August's concerns may have been overblown. Also, gold crosses the $1,300 threshold. “People may have been concerned about getting a very negative number there so you at least took the negative surprise off the table,” Lazorishak said. “The data is still consistent with the slower-growth environment rather than a double-dip,” which is giving investors some comfort, he added. Overseas, the market was bolstered by an unexpected rise in the Ifo index in Germany, a gauge of business sentiment. That helped ease near-term worries over a possible growth slowdown in Europe’s biggest economy. Read more on Germany’s IFO index. The euro (EURUSD 1.3489, +0.0177, +1.3296%) climbed against the dollar in response, rising to $1.3492. The U.S. Dollar Index (DXY 79.27, -0.62, -0.77%) , tracking the U.S. currency against a basket of six others, fell 0.9%. Crude-oil futures advanced above $76 a barrel, and gold futures rose to a fresh record high above $1,300 an ounce. The shift toward riskier assets such as stocks and commodities coincided with a move out of the safety of Treasurys, lifting the yield on the 10-year note (UST10Y 2.61, 0.00, 0.00%) to 2.61%. “So many people were moving their money into bonds that it’s a natural when you get too much excitement about one asset class the other asset class will start to run,” said Barry James, president and portfolio manager at the James Advantage funds. “It can really push the market a good deal.” Among stocks in focus, KB Home (KBH 12.11, +0.40, +3.42%) shares gained 3.4%. The home builder’s fiscal third-quarter loss narrowed significantly on sharply lower write-downs, while orders declined again following the expiration of a federal tax credit. Deliveries rose, as did the average selling price of a home.
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
A&T T $28.58 +0.07 0.25% 26,628,946 NYSE
Alcoa AA $12.2 +0.46 3.92% 30,862,436 NYSE
Amex AXP $43.13 +0.77 1.82% 10,150,105 NYSE
Bank of America BAC $13.6 +0.43 3.26% 142,535,169 NYSE
Boeing BA $64.6 +1.95 3.11% 4,626,836 NYSE
Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE
Chevron CVX $80.12 +1.58 2.01% 8,264,532 NYSE
CSCO $22.09 +0.56 2.6% 54,235,014 NASDAQ-GS
Coke KO $58.62 +0.75 1.3% 6,909,670 NYSE
DIS $33.58 +0.46 1.39% 10,657,032 NYSE
DuPont DD $45.58 +1.16 2.61% 5,474,677 NYSE
Exxon XOM $61.75 +0.60 0.98% 25,145,291 NYSE
GE $16.66 +0.52 3.22% 85,029,830 NYSE
Hewlett-Packard HPQ $40.98 +0.83 2.07% 24,550,959 NYSE
Home Depot HD $31.64 +0.80 2.59% 11,421,510 NYSE
Intel INTC $19.4225 +0.4425 2.33% 55,749,263 NASDAQ-GS
IBM $134.11 +2.44 1.85% 7,122,325 NYSE
JPMorgan JPM $39.7525 +0.6525 1.67% 28,855,020 NYSE
JNJ $62.14 +0.33 0.53% 12,636,804 NYSE
KFT $31.95 +0.68 2.17% 15,760,152 NYSE
MCD $75.1 +0.46 0.62% 5,848,031 NYSE
MRK $37.34 +0.68 1.85% 11,646,156 NYSE
MSFT $24.775 +0.345 1.41% 51,948,788 NASDAQ-GS
Pfizer PFE $17.4 +0.36 2.11% 33,718,057 NYSE
Procter & Gamb PG $61.64 +0.42 0.69% 10,604,191 NYSE
MMM $86.96 +1.43 1.67% 3,428,975 NYSE
Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE
United Tech UTX $71.5 +1.70 2.44% 2,991,096 NYSE
Verizon VZ $32.64 +0.47 1.46% 18,656,973 DualListed
Walmart WMT $54.08 +0.43 0.8% 9,769,122 NYSE
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Following are excerpts from Fri. morning's Blog.
A read of Friday's Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 10,662.42 down 76.89 or 0.72% from Wednesday's close of 10,739.31. For the year the Dow is up 2.25%. Of the 30 Dow Companies: 4 gained and 26 declined. The biggest gainer dollar-wise and percentage-wise was Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE. The biggest decliner dollar-wise was Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE and percentage-wise was Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE.
WSJ pC1 "Gold nearer to $1,300; Dow slumps" by Jonathan Cheng says investors pulled back from stocks for a 2nd straight day as gold inched closwer to the $1,300 oz level.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
NYT pB9 "Dreary data on jobs & Europe cools enthusiasm on Wall St" by AP says a Sept stock rally weakened on Thurs as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.
USA Today p6B "Stocks drop on news about jobs, banks" by Bloomberg says US stocks fell Thurs sending the S&P 500 lower for a 3rd day, as a deteriorating profit outlook for banks and an increase in jobless claims overshadowed a rally in tech shares.
Thursday's Dow Jones Industrial Average closing numerator was 1,408.82 down 10.16 from Wednesday's closing numerator of 1,418.98. 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 10.16 for Thursday by the divisor (0.132129493) you get the decrease in Thursday's Dow of 76.89. 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 Wednesday's Dow Jones Industrial Average was $46.96 down 0.34 from Tuesday's Dow Jones Industrial Average average closing price of $47.30. The median closing price of Tuesday's Dow Jones Industrial Average was $40.73 (JPM/AXP) down 0.44 from Wednesday's Dow Jones median price of 41.17. The lowest volume was 3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE and the highest volume again was Bank of America BAC $13.17 -0.25 1.86% 152,809,192 NYSE.
If Thursday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,018 ($141,898 - $140,880).
MarketWatch 9/23/10 Thursday 5:04 pm by Kate Gibson says U.S. stocks ended Thursday’s session lower after rising U.S. jobless claims and disappointing European economic data fed pessimism about the recovery.
“Stocks right now are priced for a double-dip recession. I don’t think that’s going to happen, but for right now the perception is very negative, and there isn’t enough change in reality to change the perception,” David Kelly, chief market strategist at JPMorgan Funds, of the mixed economic reports. “The pullback is partly a lack of fresh retail money going into the market,” Kelly added. The Dow Jones Industrial Average (DJIA 10,662, -76.82, -0.72%) ended down 76.89 points, or 0.7%, at 10,662.42, with all but four of its 30 components declining. The Standard & Poor’s 500 Index (SPX 1,125, -9.45, -0.83%) fell 9.45, or 0.8%, to 1,124.83, with financial companies falling the hardest among its sectors and technology stocks off the least. Red Hat shares surge after the software maker reports profit that exceeds analysts' expectations. The company's stock has risen more than 30% this year. The Nasdaq Composite Index (COMP 2,327, -7.47, -0.32%) fell 7.47 points, or 0.3%, to 2,327.08. Ahead of Wall Street’s start, stock index futures fell after the Labor Department said first-time claims for jobless benefits rose last week after a two-week decline. In Europe, Ireland’s economy contracted in the second-quarter, raising concern that austerity measures have only worsened the outlook for the economy and sovereign debt in the euro zone, where PMI data came in worse than expected. Read more on European stocks, economy. Wall Street had lessened its losses after the Conference Board reported its index of leading economic indicators rose 0.3% in August. “Today’s report indicates upward momentum, consistent with our view the economy will pick up again after a soft second quarter,” Nicholas Tenev, an analyst at Barclays Capital, said in a note. Separately, the National Association of Realtors said resales of single-family homes and condos rebounded 7.6% in August.“A little better-than-expected existing home sales preceded by a bounce in Apple Inc. (AAPL 289.47, +0.55, +0.19%) and the semiconductors set the stage for a terrific recovery,” noted Elliot Spar, chief market strategist at Stifel Nicolaus, about the earlier rebound. But the recovery stalled in the late afternoon, with the major indexes again lapsing into negative territory. For every stock on the rise two fell on the New York Stock Exchange, where 951 million shares traded.
Dow Jones Industrial Average Closing Numbers
AT&T T: $28.51 0.08 0.28% 23,838,901 NYSE: WSJ pB4 "Verizont o change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Aloca AA $11.74 +0.04 0.34% 39,794,817 NYSE: WSJ pC8 "China's growthfoils aluminum but Alumina could shine" by Liam Denning says Alcoa and Rusal, the world's largest aluminum producers said they favor severing using hedging to price aluminum in favor of switching to market pricing as a result of China increasing its smelting capacity.
Amex AXP $42.36 -0.43 1% 8,663,158 NYSE: WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
Bank of Am BAC $13.17 -0.25 1.86% 152,809,192 NYSE: WSJ pC1 "Second lookhelps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC3 "BofA Merrill starts derivative division" says the new division will handle customers' futures and derivatives trading.
Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE: Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
Caterpillar CAT $76.26 +0.08 0.11% 8,735,109 NYSE: No mentions found.
Chevron CVX $78.54 -0.71 0.9% 6,795,316 NYSE: No mentions found.
CSCO $21.53 -0.14 0.65% 36,002,070 NASDAQ-GS: No mentions found.
Coke KO $57.87 -0.36 0.62% 6,341,873 NYSE: AJC pA18 "Coke's goal: 5 million women entrepreneurs" by Jeremiah McWilliams says Coke plans to double the number of women in its supply chain to empower 5 million women throughout Coke's global business by 2020.
Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE: WSJ pB9 "Apple TV splits networks" by nat Worden says Disney's ABC and Fox ahve agreed to make their shows available for a new Apple 99 cent digital rental service for TV shows.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
DuPont DD $44.42 -0.20 0.45% 4,212,046 NYSE: No mentions found.
Exxon XOM $61.15 -0.30 0.49% 18,082,912 NYSE: No mentions found.
GE $16.14 -0.36 2.18% 53,012,533 NYSE: WSJ pB3 "GE chief slams US on energy" by Paul Glader says GE's CEO Jeff Immelt said US is falling behind China in clean tech, saying US policy is stupid.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE: No mentions found.
Home Depot HD $30.84 -0.04 0.13% 16,042,058 NYSE: No mentions found.
Intel INTC $18.98 -0.03 0.16% 51,900,318 NASDAQ-GS: WSJ pB4 "AMD warns of a sales shortfall" by Don Calrk says Advanced Micro Devices said it will have lower rev for 3Q than expected, the latest sign of softening consumer demand. Intel, AMD's major competitor, in late Aug ratcheted back its own 3Q forecasts but still calls for growth of 2% from the 2Q.
IBM $131.67 -0.90 0.68% 3,890,570 NYSE: No mentions found.
JPMorgan JPM $39.1 -0.84 2.1% 33,383,431 NYSE: WSJ pC1 "Second look helps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
JNJ $61.81 -0.16 0.26% 8,374,511 NYSE: No mentions found.
KFT $31.27 -0.04 0.13% 12,737,935 NYSE: No mentions found.
McDonalds MCD $74.64 -0.49 0.65% 5,914,063 NYSE: WSJ pB3 "McDonald's increases quarterly dividend by 11%" by Tess Stynes, Fin Times p15 "McDonald's in dividend raise" by Reuters, USA Today p1B "McDonald's fattens dividend," say this continues a series of increased payouts every year since it first paid dividends 34 years ago.
MRK $36.66 -0.30 0.81% 10,584,624 NYSE:
Microsoft MSFT $24.43 -0.18 0.73% 46,153,886 NASDAQ-GS: WSJ pB3 "FCC to open unused TV airwaves, extending WiFi's possibilities" by Amy Schatz, NYT pB3 "Broadbandis bolstered by changes from FCC" by Edwart Wyatt, USA Today p4B "FCC votes to pen up new world of super WiFi" by AP, say the FCC approved a plan to open vacant tv channels for wireless broadband, a win for high tech firms that have sought to use the airwaves for new services. Google, Microsoft & Dell are among the firms that have pushed the FCC to open up the airwaves and they have already been testing systems for using them.
Pfizer PFE $17.04 -0.18 1.05% 37,899,047 NYSE: No mentions found.
Procter & Gam PG $61.22 -0.57 0.92% 10,104,680 NYSE: No mentions found.
3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE: No mentions found.
TRV $52.4 +0.07 0.13% 4,685,345 NYSE: No mentions found.
United Tech UTX $69.8 -0.78 1.11% 3,401,335 NYSE: No mentions found.
Verizon VZ $32.17 -0.22 0.68% 15,970,337 Dual Listed: WSJ pB4 "Verizon to change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Fin Times p13 "Verizon signals resumption of mobile unit dividends in '12" by Paul Taylor says Verizon Communications said it might resume paing dividends at its Verizon Wireless jv with Vodafone in '12.
WSJ pC8 "Overheard" says Verizon's CEO Ivan Seidenberg said that when cable operators deny "cord-cutting, subscribers ditching cable and watching video on the Internet, it reminds him when the phone industry denied losing land line phone customers to cell phones.
WMT $53.65 -0.17 0.32% 7,289,444 NYSE: WSJ pB1 "Discounted Ebooks spark outcry from French shops" by Max Colchester says the in France, a law bans the sale of books for less than 5% below cover price to protect independent booksellers. Walmart and target are known for offering printed books at steep discounts.
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Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
9/24/10 Fri pm Dow Closes 10,860.66 up 197.84 or 1.86%
www.DowJonesMonitor.com
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Post No. 656 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
The Dow Jones Industrial Average closed Friday at 10,662.42 down 76.89 or 0.72% from Thursday's close of 10,662.42. Of the 30 Dow Companies: all 30 gained and none declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE.
As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.39 down from Thursday's 14.49 (year ago it was 15.66) the P/E estimate is 12.76 unchanged from Thursday's 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 up from Thursday's 2.63 (it was 2.90 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 1,435.01 up 26.19 from Wednesday's closing numerator of 1,408.82. 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 26.19 for Friday by the divisor (0.132129493) you get the increase in Friday's Dow of 197.84. 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 $47.83 up 1.87 from Thursday's Dow Jones Industrial Average average closing price of $46.96. The median closing price of Tuesday's Dow Jones Industrial Average was $41.44 (JPM/AXP) up 0.71 from Thursday's Dow Jones median price of 40.73. The lowest volume was Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE and the highest volume again was Bank of America BAC $13.6 +0.43 3.26% 142,535,169 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 made $1,603 ($143,501 - $141,898).
MarketWatch 9/243/10 Friday 4:23 pm by Donna Yesalavich says U.S. stocks rose sharply Friday, ending their fourth-straight positive week on a strong note as signs of stabilization in durable goods and housing boosted investors’ appetite for risk. The Dow Jones Industrial Average (DJIA 10,860, +197.84, +1.86%) advanced 197.84 points, or 1.86%, to 10860.26, its biggest one-day rise since Sept. 1. All 30 of the measure’s components rose, led by a 4.6% jump in Caterpillar Inc. (CAT 79.73, +3.47, +4.55%) shares, a 3.9% climb in Alcoa, Inc. (AA 12.20, +0.46, +3.92%) and a 3.3% increase in Bank of America (BAC 13.60, +0.43, +3.26%) . The Dow rose 2.38% this week, extending its winning streak to a fourth week. The measure hasn’t had such a long weekly positive run since an eight-week advance that ended in April. In addition, the Dow is up 8.44% for the month, on pace for its biggest September gain since 1939 and the fifth-best September in the Dow’s history. The measure is now trading at its highest point since May. The Nasdaq Composite (COMP 2,381, +54.14, +2.33%) added 54.14, or 2.33%, to 2381.22. The Standard & Poor’s 500-stock index (SPX 1,149, +23.84, +2.12%) rose 23.84, or 2.12%, to 1148.67, with all sectors in positive territory. The industrial and financial sectors led the gains. The rally came after August results for U.S. durable-goods orders and sales of new homes, as investors took comfort in upward revisions in both areas for July, as well as increasing signs of stability. The durable-goods data showed gains in machinery, computers and fabricated-metal products, while a barometer of capital spending by businesses rose. New-home sales, meanwhile, were unchanged from July. The lack of a drop, combined with other readings on housing this week that topped expectations, provided relief to investors who had been fearful of further deterioration in the industry in the face of high unemployment. Stocks have sprung back into rally mode, as investors look at revisions to summer data suggesting August's concerns may have been overblown. Also, gold crosses the $1,300 threshold. “People may have been concerned about getting a very negative number there so you at least took the negative surprise off the table,” Lazorishak said. “The data is still consistent with the slower-growth environment rather than a double-dip,” which is giving investors some comfort, he added. Overseas, the market was bolstered by an unexpected rise in the Ifo index in Germany, a gauge of business sentiment. That helped ease near-term worries over a possible growth slowdown in Europe’s biggest economy. Read more on Germany’s IFO index. The euro (EURUSD 1.3489, +0.0177, +1.3296%) climbed against the dollar in response, rising to $1.3492. The U.S. Dollar Index (DXY 79.27, -0.62, -0.77%) , tracking the U.S. currency against a basket of six others, fell 0.9%. Crude-oil futures advanced above $76 a barrel, and gold futures rose to a fresh record high above $1,300 an ounce. The shift toward riskier assets such as stocks and commodities coincided with a move out of the safety of Treasurys, lifting the yield on the 10-year note (UST10Y 2.61, 0.00, 0.00%) to 2.61%. “So many people were moving their money into bonds that it’s a natural when you get too much excitement about one asset class the other asset class will start to run,” said Barry James, president and portfolio manager at the James Advantage funds. “It can really push the market a good deal.” Among stocks in focus, KB Home (KBH 12.11, +0.40, +3.42%) shares gained 3.4%. The home builder’s fiscal third-quarter loss narrowed significantly on sharply lower write-downs, while orders declined again following the expiration of a federal tax credit. Deliveries rose, as did the average selling price of a home.
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
A&T T $28.58 +0.07 0.25% 26,628,946 NYSE
Alcoa AA $12.2 +0.46 3.92% 30,862,436 NYSE
Amex AXP $43.13 +0.77 1.82% 10,150,105 NYSE
Bank of America BAC $13.6 +0.43 3.26% 142,535,169 NYSE
Boeing BA $64.6 +1.95 3.11% 4,626,836 NYSE
Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE
Chevron CVX $80.12 +1.58 2.01% 8,264,532 NYSE
CSCO $22.09 +0.56 2.6% 54,235,014 NASDAQ-GS
Coke KO $58.62 +0.75 1.3% 6,909,670 NYSE
DIS $33.58 +0.46 1.39% 10,657,032 NYSE
DuPont DD $45.58 +1.16 2.61% 5,474,677 NYSE
Exxon XOM $61.75 +0.60 0.98% 25,145,291 NYSE
GE $16.66 +0.52 3.22% 85,029,830 NYSE
Hewlett-Packard HPQ $40.98 +0.83 2.07% 24,550,959 NYSE
Home Depot HD $31.64 +0.80 2.59% 11,421,510 NYSE
Intel INTC $19.4225 +0.4425 2.33% 55,749,263 NASDAQ-GS
IBM $134.11 +2.44 1.85% 7,122,325 NYSE
JPMorgan JPM $39.7525 +0.6525 1.67% 28,855,020 NYSE
JNJ $62.14 +0.33 0.53% 12,636,804 NYSE
KFT $31.95 +0.68 2.17% 15,760,152 NYSE
MCD $75.1 +0.46 0.62% 5,848,031 NYSE
MRK $37.34 +0.68 1.85% 11,646,156 NYSE
MSFT $24.775 +0.345 1.41% 51,948,788 NASDAQ-GS
Pfizer PFE $17.4 +0.36 2.11% 33,718,057 NYSE
Procter & Gamb PG $61.64 +0.42 0.69% 10,604,191 NYSE
MMM $86.96 +1.43 1.67% 3,428,975 NYSE
Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE
United Tech UTX $71.5 +1.70 2.44% 2,991,096 NYSE
Verizon VZ $32.64 +0.47 1.46% 18,656,973 DualListed
Walmart WMT $54.08 +0.43 0.8% 9,769,122 NYSE
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Following are excerpts from Fri. morning's Blog.
A read of Friday's Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 10,662.42 down 76.89 or 0.72% from Wednesday's close of 10,739.31. For the year the Dow is up 2.25%. Of the 30 Dow Companies: 4 gained and 26 declined. The biggest gainer dollar-wise and percentage-wise was Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE. The biggest decliner dollar-wise was Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE and percentage-wise was Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE.
WSJ pC1 "Gold nearer to $1,300; Dow slumps" by Jonathan Cheng says investors pulled back from stocks for a 2nd straight day as gold inched closwer to the $1,300 oz level.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
NYT pB9 "Dreary data on jobs & Europe cools enthusiasm on Wall St" by AP says a Sept stock rally weakened on Thurs as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.
USA Today p6B "Stocks drop on news about jobs, banks" by Bloomberg says US stocks fell Thurs sending the S&P 500 lower for a 3rd day, as a deteriorating profit outlook for banks and an increase in jobless claims overshadowed a rally in tech shares.
Thursday's Dow Jones Industrial Average closing numerator was 1,408.82 down 10.16 from Wednesday's closing numerator of 1,418.98. 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 10.16 for Thursday by the divisor (0.132129493) you get the decrease in Thursday's Dow of 76.89. 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 Wednesday's Dow Jones Industrial Average was $46.96 down 0.34 from Tuesday's Dow Jones Industrial Average average closing price of $47.30. The median closing price of Tuesday's Dow Jones Industrial Average was $40.73 (JPM/AXP) down 0.44 from Wednesday's Dow Jones median price of 41.17. The lowest volume was 3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE and the highest volume again was Bank of America BAC $13.17 -0.25 1.86% 152,809,192 NYSE.
If Thursday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,018 ($141,898 - $140,880).
MarketWatch 9/23/10 Thursday 5:04 pm by Kate Gibson says U.S. stocks ended Thursday’s session lower after rising U.S. jobless claims and disappointing European economic data fed pessimism about the recovery.
“Stocks right now are priced for a double-dip recession. I don’t think that’s going to happen, but for right now the perception is very negative, and there isn’t enough change in reality to change the perception,” David Kelly, chief market strategist at JPMorgan Funds, of the mixed economic reports. “The pullback is partly a lack of fresh retail money going into the market,” Kelly added. The Dow Jones Industrial Average (DJIA 10,662, -76.82, -0.72%) ended down 76.89 points, or 0.7%, at 10,662.42, with all but four of its 30 components declining. The Standard & Poor’s 500 Index (SPX 1,125, -9.45, -0.83%) fell 9.45, or 0.8%, to 1,124.83, with financial companies falling the hardest among its sectors and technology stocks off the least. Red Hat shares surge after the software maker reports profit that exceeds analysts' expectations. The company's stock has risen more than 30% this year. The Nasdaq Composite Index (COMP 2,327, -7.47, -0.32%) fell 7.47 points, or 0.3%, to 2,327.08. Ahead of Wall Street’s start, stock index futures fell after the Labor Department said first-time claims for jobless benefits rose last week after a two-week decline. In Europe, Ireland’s economy contracted in the second-quarter, raising concern that austerity measures have only worsened the outlook for the economy and sovereign debt in the euro zone, where PMI data came in worse than expected. Read more on European stocks, economy. Wall Street had lessened its losses after the Conference Board reported its index of leading economic indicators rose 0.3% in August. “Today’s report indicates upward momentum, consistent with our view the economy will pick up again after a soft second quarter,” Nicholas Tenev, an analyst at Barclays Capital, said in a note. Separately, the National Association of Realtors said resales of single-family homes and condos rebounded 7.6% in August.“A little better-than-expected existing home sales preceded by a bounce in Apple Inc. (AAPL 289.47, +0.55, +0.19%) and the semiconductors set the stage for a terrific recovery,” noted Elliot Spar, chief market strategist at Stifel Nicolaus, about the earlier rebound. But the recovery stalled in the late afternoon, with the major indexes again lapsing into negative territory. For every stock on the rise two fell on the New York Stock Exchange, where 951 million shares traded.
Dow Jones Industrial Average Closing Numbers
AT&T T: $28.51 0.08 0.28% 23,838,901 NYSE: WSJ pB4 "Verizont o change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Aloca AA $11.74 +0.04 0.34% 39,794,817 NYSE: WSJ pC8 "China's growthfoils aluminum but Alumina could shine" by Liam Denning says Alcoa and Rusal, the world's largest aluminum producers said they favor severing using hedging to price aluminum in favor of switching to market pricing as a result of China increasing its smelting capacity.
Amex AXP $42.36 -0.43 1% 8,663,158 NYSE: WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
Bank of Am BAC $13.17 -0.25 1.86% 152,809,192 NYSE: WSJ pC1 "Second lookhelps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC3 "BofA Merrill starts derivative division" says the new division will handle customers' futures and derivatives trading.
Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE: Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
Caterpillar CAT $76.26 +0.08 0.11% 8,735,109 NYSE: No mentions found.
Chevron CVX $78.54 -0.71 0.9% 6,795,316 NYSE: No mentions found.
CSCO $21.53 -0.14 0.65% 36,002,070 NASDAQ-GS: No mentions found.
Coke KO $57.87 -0.36 0.62% 6,341,873 NYSE: AJC pA18 "Coke's goal: 5 million women entrepreneurs" by Jeremiah McWilliams says Coke plans to double the number of women in its supply chain to empower 5 million women throughout Coke's global business by 2020.
Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE: WSJ pB9 "Apple TV splits networks" by nat Worden says Disney's ABC and Fox ahve agreed to make their shows available for a new Apple 99 cent digital rental service for TV shows.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
DuPont DD $44.42 -0.20 0.45% 4,212,046 NYSE: No mentions found.
Exxon XOM $61.15 -0.30 0.49% 18,082,912 NYSE: No mentions found.
GE $16.14 -0.36 2.18% 53,012,533 NYSE: WSJ pB3 "GE chief slams US on energy" by Paul Glader says GE's CEO Jeff Immelt said US is falling behind China in clean tech, saying US policy is stupid.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE: No mentions found.
Home Depot HD $30.84 -0.04 0.13% 16,042,058 NYSE: No mentions found.
Intel INTC $18.98 -0.03 0.16% 51,900,318 NASDAQ-GS: WSJ pB4 "AMD warns of a sales shortfall" by Don Calrk says Advanced Micro Devices said it will have lower rev for 3Q than expected, the latest sign of softening consumer demand. Intel, AMD's major competitor, in late Aug ratcheted back its own 3Q forecasts but still calls for growth of 2% from the 2Q.
IBM $131.67 -0.90 0.68% 3,890,570 NYSE: No mentions found.
JPMorgan JPM $39.1 -0.84 2.1% 33,383,431 NYSE: WSJ pC1 "Second look helps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
JNJ $61.81 -0.16 0.26% 8,374,511 NYSE: No mentions found.
KFT $31.27 -0.04 0.13% 12,737,935 NYSE: No mentions found.
McDonalds MCD $74.64 -0.49 0.65% 5,914,063 NYSE: WSJ pB3 "McDonald's increases quarterly dividend by 11%" by Tess Stynes, Fin Times p15 "McDonald's in dividend raise" by Reuters, USA Today p1B "McDonald's fattens dividend," say this continues a series of increased payouts every year since it first paid dividends 34 years ago.
MRK $36.66 -0.30 0.81% 10,584,624 NYSE:
Microsoft MSFT $24.43 -0.18 0.73% 46,153,886 NASDAQ-GS: WSJ pB3 "FCC to open unused TV airwaves, extending WiFi's possibilities" by Amy Schatz, NYT pB3 "Broadbandis bolstered by changes from FCC" by Edwart Wyatt, USA Today p4B "FCC votes to pen up new world of super WiFi" by AP, say the FCC approved a plan to open vacant tv channels for wireless broadband, a win for high tech firms that have sought to use the airwaves for new services. Google, Microsoft & Dell are among the firms that have pushed the FCC to open up the airwaves and they have already been testing systems for using them.
Pfizer PFE $17.04 -0.18 1.05% 37,899,047 NYSE: No mentions found.
Procter & Gam PG $61.22 -0.57 0.92% 10,104,680 NYSE: No mentions found.
3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE: No mentions found.
TRV $52.4 +0.07 0.13% 4,685,345 NYSE: No mentions found.
United Tech UTX $69.8 -0.78 1.11% 3,401,335 NYSE: No mentions found.
Verizon VZ $32.17 -0.22 0.68% 15,970,337 Dual Listed: WSJ pB4 "Verizon to change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Fin Times p13 "Verizon signals resumption of mobile unit dividends in '12" by Paul Taylor says Verizon Communications said it might resume paing dividends at its Verizon Wireless jv with Vodafone in '12.
WSJ pC8 "Overheard" says Verizon's CEO Ivan Seidenberg said that when cable operators deny "cord-cutting, subscribers ditching cable and watching video on the Internet, it reminds him when the phone industry denied losing land line phone customers to cell phones.
WMT $53.65 -0.17 0.32% 7,289,444 NYSE: WSJ pB1 "Discounted Ebooks spark outcry from French shops" by Max Colchester says the in France, a law bans the sale of books for less than 5% below cover price to protect independent booksellers. Walmart and target are known for offering printed books at steep discounts.
****************************
Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 656 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 9/12/10 and an update of the Dow 30 component's SEC filings as of 9/12/10.
The Dow Jones Industrial Average closed Friday at 10,662.42 down 76.89 or 0.72% from Thursday's close of 10,662.42. Of the 30 Dow Companies: all 30 gained and none declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE.
As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.39 down from Thursday's 14.49 (year ago it was 15.66) the P/E estimate is 12.76 unchanged from Thursday's 12.76 (year ago it was 15.71) and the current dividend yield is 2.65 up from Thursday's 2.63 (it was 2.90 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 1,435.01 up 26.19 from Wednesday's closing numerator of 1,408.82. 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 26.19 for Friday by the divisor (0.132129493) you get the increase in Friday's Dow of 197.84. 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 $47.83 up 1.87 from Thursday's Dow Jones Industrial Average average closing price of $46.96. The median closing price of Tuesday's Dow Jones Industrial Average was $41.44 (JPM/AXP) up 0.71 from Thursday's Dow Jones median price of 40.73. The lowest volume was Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE and the highest volume again was Bank of America BAC $13.6 +0.43 3.26% 142,535,169 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 made $1,603 ($143,501 - $141,898).
MarketWatch 9/243/10 Friday 4:23 pm by Donna Yesalavich says U.S. stocks rose sharply Friday, ending their fourth-straight positive week on a strong note as signs of stabilization in durable goods and housing boosted investors’ appetite for risk. The Dow Jones Industrial Average (DJIA 10,860, +197.84, +1.86%) advanced 197.84 points, or 1.86%, to 10860.26, its biggest one-day rise since Sept. 1. All 30 of the measure’s components rose, led by a 4.6% jump in Caterpillar Inc. (CAT 79.73, +3.47, +4.55%) shares, a 3.9% climb in Alcoa, Inc. (AA 12.20, +0.46, +3.92%) and a 3.3% increase in Bank of America (BAC 13.60, +0.43, +3.26%) . The Dow rose 2.38% this week, extending its winning streak to a fourth week. The measure hasn’t had such a long weekly positive run since an eight-week advance that ended in April. In addition, the Dow is up 8.44% for the month, on pace for its biggest September gain since 1939 and the fifth-best September in the Dow’s history. The measure is now trading at its highest point since May. The Nasdaq Composite (COMP 2,381, +54.14, +2.33%) added 54.14, or 2.33%, to 2381.22. The Standard & Poor’s 500-stock index (SPX 1,149, +23.84, +2.12%) rose 23.84, or 2.12%, to 1148.67, with all sectors in positive territory. The industrial and financial sectors led the gains. The rally came after August results for U.S. durable-goods orders and sales of new homes, as investors took comfort in upward revisions in both areas for July, as well as increasing signs of stability. The durable-goods data showed gains in machinery, computers and fabricated-metal products, while a barometer of capital spending by businesses rose. New-home sales, meanwhile, were unchanged from July. The lack of a drop, combined with other readings on housing this week that topped expectations, provided relief to investors who had been fearful of further deterioration in the industry in the face of high unemployment. Stocks have sprung back into rally mode, as investors look at revisions to summer data suggesting August's concerns may have been overblown. Also, gold crosses the $1,300 threshold. “People may have been concerned about getting a very negative number there so you at least took the negative surprise off the table,” Lazorishak said. “The data is still consistent with the slower-growth environment rather than a double-dip,” which is giving investors some comfort, he added. Overseas, the market was bolstered by an unexpected rise in the Ifo index in Germany, a gauge of business sentiment. That helped ease near-term worries over a possible growth slowdown in Europe’s biggest economy. Read more on Germany’s IFO index. The euro (EURUSD 1.3489, +0.0177, +1.3296%) climbed against the dollar in response, rising to $1.3492. The U.S. Dollar Index (DXY 79.27, -0.62, -0.77%) , tracking the U.S. currency against a basket of six others, fell 0.9%. Crude-oil futures advanced above $76 a barrel, and gold futures rose to a fresh record high above $1,300 an ounce. The shift toward riskier assets such as stocks and commodities coincided with a move out of the safety of Treasurys, lifting the yield on the 10-year note (UST10Y 2.61, 0.00, 0.00%) to 2.61%. “So many people were moving their money into bonds that it’s a natural when you get too much excitement about one asset class the other asset class will start to run,” said Barry James, president and portfolio manager at the James Advantage funds. “It can really push the market a good deal.” Among stocks in focus, KB Home (KBH 12.11, +0.40, +3.42%) shares gained 3.4%. The home builder’s fiscal third-quarter loss narrowed significantly on sharply lower write-downs, while orders declined again following the expiration of a federal tax credit. Deliveries rose, as did the average selling price of a home.
Friday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market
A&T T $28.58 +0.07 0.25% 26,628,946 NYSE
Alcoa AA $12.2 +0.46 3.92% 30,862,436 NYSE
Amex AXP $43.13 +0.77 1.82% 10,150,105 NYSE
Bank of America BAC $13.6 +0.43 3.26% 142,535,169 NYSE
Boeing BA $64.6 +1.95 3.11% 4,626,836 NYSE
Caterpillar CAT $79.73 +3.47 4.55% 14,218,503 NYSE
Chevron CVX $80.12 +1.58 2.01% 8,264,532 NYSE
CSCO $22.09 +0.56 2.6% 54,235,014 NASDAQ-GS
Coke KO $58.62 +0.75 1.3% 6,909,670 NYSE
DIS $33.58 +0.46 1.39% 10,657,032 NYSE
DuPont DD $45.58 +1.16 2.61% 5,474,677 NYSE
Exxon XOM $61.75 +0.60 0.98% 25,145,291 NYSE
GE $16.66 +0.52 3.22% 85,029,830 NYSE
Hewlett-Packard HPQ $40.98 +0.83 2.07% 24,550,959 NYSE
Home Depot HD $31.64 +0.80 2.59% 11,421,510 NYSE
Intel INTC $19.4225 +0.4425 2.33% 55,749,263 NASDAQ-GS
IBM $134.11 +2.44 1.85% 7,122,325 NYSE
JPMorgan JPM $39.7525 +0.6525 1.67% 28,855,020 NYSE
JNJ $62.14 +0.33 0.53% 12,636,804 NYSE
KFT $31.95 +0.68 2.17% 15,760,152 NYSE
MCD $75.1 +0.46 0.62% 5,848,031 NYSE
MRK $37.34 +0.68 1.85% 11,646,156 NYSE
MSFT $24.775 +0.345 1.41% 51,948,788 NASDAQ-GS
Pfizer PFE $17.4 +0.36 2.11% 33,718,057 NYSE
Procter & Gamb PG $61.64 +0.42 0.69% 10,604,191 NYSE
MMM $86.96 +1.43 1.67% 3,428,975 NYSE
Travelers TRV $53.12 +0.72 1.37% 3,291,337 NYSE
United Tech UTX $71.5 +1.70 2.44% 2,991,096 NYSE
Verizon VZ $32.64 +0.47 1.46% 18,656,973 DualListed
Walmart WMT $54.08 +0.43 0.8% 9,769,122 NYSE
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Following are excerpts from Fri. morning's Blog.
A read of Friday's Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Thursday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Thursday at 10,662.42 down 76.89 or 0.72% from Wednesday's close of 10,739.31. For the year the Dow is up 2.25%. Of the 30 Dow Companies: 4 gained and 26 declined. The biggest gainer dollar-wise and percentage-wise was Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE. The biggest decliner dollar-wise was Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE and percentage-wise was Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE.
WSJ pC1 "Gold nearer to $1,300; Dow slumps" by Jonathan Cheng says investors pulled back from stocks for a 2nd straight day as gold inched closwer to the $1,300 oz level.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
NYT pB9 "Dreary data on jobs & Europe cools enthusiasm on Wall St" by AP says a Sept stock rally weakened on Thurs as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.
USA Today p6B "Stocks drop on news about jobs, banks" by Bloomberg says US stocks fell Thurs sending the S&P 500 lower for a 3rd day, as a deteriorating profit outlook for banks and an increase in jobless claims overshadowed a rally in tech shares.
Thursday's Dow Jones Industrial Average closing numerator was 1,408.82 down 10.16 from Wednesday's closing numerator of 1,418.98. 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 10.16 for Thursday by the divisor (0.132129493) you get the decrease in Thursday's Dow of 76.89. 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 Wednesday's Dow Jones Industrial Average was $46.96 down 0.34 from Tuesday's Dow Jones Industrial Average average closing price of $47.30. The median closing price of Tuesday's Dow Jones Industrial Average was $40.73 (JPM/AXP) down 0.44 from Wednesday's Dow Jones median price of 41.17. The lowest volume was 3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE and the highest volume again was Bank of America BAC $13.17 -0.25 1.86% 152,809,192 NYSE.
If Thursday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,018 ($141,898 - $140,880).
MarketWatch 9/23/10 Thursday 5:04 pm by Kate Gibson says U.S. stocks ended Thursday’s session lower after rising U.S. jobless claims and disappointing European economic data fed pessimism about the recovery.
“Stocks right now are priced for a double-dip recession. I don’t think that’s going to happen, but for right now the perception is very negative, and there isn’t enough change in reality to change the perception,” David Kelly, chief market strategist at JPMorgan Funds, of the mixed economic reports. “The pullback is partly a lack of fresh retail money going into the market,” Kelly added. The Dow Jones Industrial Average (DJIA 10,662, -76.82, -0.72%) ended down 76.89 points, or 0.7%, at 10,662.42, with all but four of its 30 components declining. The Standard & Poor’s 500 Index (SPX 1,125, -9.45, -0.83%) fell 9.45, or 0.8%, to 1,124.83, with financial companies falling the hardest among its sectors and technology stocks off the least. Red Hat shares surge after the software maker reports profit that exceeds analysts' expectations. The company's stock has risen more than 30% this year. The Nasdaq Composite Index (COMP 2,327, -7.47, -0.32%) fell 7.47 points, or 0.3%, to 2,327.08. Ahead of Wall Street’s start, stock index futures fell after the Labor Department said first-time claims for jobless benefits rose last week after a two-week decline. In Europe, Ireland’s economy contracted in the second-quarter, raising concern that austerity measures have only worsened the outlook for the economy and sovereign debt in the euro zone, where PMI data came in worse than expected. Read more on European stocks, economy. Wall Street had lessened its losses after the Conference Board reported its index of leading economic indicators rose 0.3% in August. “Today’s report indicates upward momentum, consistent with our view the economy will pick up again after a soft second quarter,” Nicholas Tenev, an analyst at Barclays Capital, said in a note. Separately, the National Association of Realtors said resales of single-family homes and condos rebounded 7.6% in August.“A little better-than-expected existing home sales preceded by a bounce in Apple Inc. (AAPL 289.47, +0.55, +0.19%) and the semiconductors set the stage for a terrific recovery,” noted Elliot Spar, chief market strategist at Stifel Nicolaus, about the earlier rebound. But the recovery stalled in the late afternoon, with the major indexes again lapsing into negative territory. For every stock on the rise two fell on the New York Stock Exchange, where 951 million shares traded.
Dow Jones Industrial Average Closing Numbers
AT&T T: $28.51 0.08 0.28% 23,838,901 NYSE: WSJ pB4 "Verizont o change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Aloca AA $11.74 +0.04 0.34% 39,794,817 NYSE: WSJ pC8 "China's growthfoils aluminum but Alumina could shine" by Liam Denning says Alcoa and Rusal, the world's largest aluminum producers said they favor severing using hedging to price aluminum in favor of switching to market pricing as a result of China increasing its smelting capacity.
Amex AXP $42.36 -0.43 1% 8,663,158 NYSE: WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
Bank of Am BAC $13.17 -0.25 1.86% 152,809,192 NYSE: WSJ pC1 "Second lookhelps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC3 "BofA Merrill starts derivative division" says the new division will handle customers' futures and derivatives trading.
Boeing BA $62.65 -1.25 1.96% 3,617,010 NYSE: Fin Times p22 "Investors shaken by more bad news on the jobless front" by Hannah Kuchler says US stocks slid back under the key 1,130 level led by losses for fin'ls and industrials after initial jobless claims unexpectedly climbed for the first time in 4 weeks. Industries dropped with Boeing sinking 2%.
Caterpillar CAT $76.26 +0.08 0.11% 8,735,109 NYSE: No mentions found.
Chevron CVX $78.54 -0.71 0.9% 6,795,316 NYSE: No mentions found.
CSCO $21.53 -0.14 0.65% 36,002,070 NASDAQ-GS: No mentions found.
Coke KO $57.87 -0.36 0.62% 6,341,873 NYSE: AJC pA18 "Coke's goal: 5 million women entrepreneurs" by Jeremiah McWilliams says Coke plans to double the number of women in its supply chain to empower 5 million women throughout Coke's global business by 2020.
Disney DIS $33.12 -0.87 2.56% 18,027,269 NYSE: WSJ pB9 "Apple TV splits networks" by nat Worden says Disney's ABC and Fox ahve agreed to make their shows available for a new Apple 99 cent digital rental service for TV shows.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
DuPont DD $44.42 -0.20 0.45% 4,212,046 NYSE: No mentions found.
Exxon XOM $61.15 -0.30 0.49% 18,082,912 NYSE: No mentions found.
GE $16.14 -0.36 2.18% 53,012,533 NYSE: WSJ pB3 "GE chief slams US on energy" by Paul Glader says GE's CEO Jeff Immelt said US is falling behind China in clean tech, saying US policy is stupid.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
Hewlett-Packard HPQ $40.15 +0.60 1.52% 22,904,839 NYSE: No mentions found.
Home Depot HD $30.84 -0.04 0.13% 16,042,058 NYSE: No mentions found.
Intel INTC $18.98 -0.03 0.16% 51,900,318 NASDAQ-GS: WSJ pB4 "AMD warns of a sales shortfall" by Don Calrk says Advanced Micro Devices said it will have lower rev for 3Q than expected, the latest sign of softening consumer demand. Intel, AMD's major competitor, in late Aug ratcheted back its own 3Q forecasts but still calls for growth of 2% from the 2Q.
IBM $131.67 -0.90 0.68% 3,890,570 NYSE: No mentions found.
JPMorgan JPM $39.1 -0.84 2.1% 33,383,431 NYSE: WSJ pC1 "Second look helps out borrowers" by Ruth Simon says the Fin'l Services Roundtable, a trade group of 100 large fin'l firms including Bank of America and JPMorgan says half of its members have second look programs to review rejected loan applications.
WSJ pC1 "Chase sets flag in AmEx territory" by Robin Sidel says JPMorgan is chasing after customers of American Express by now pitching plastic to more affluent consumers.
WSJ pC5 "Red Hat climbs 9%; Disney, GE fall back" by David Benoit says weakness in US jobless figures & in European economic data knocked blue chips into the red for the 2nd straight day. Disney was the weakest Dow component falling 87 cents, GE lost 36 cents and JPMorgan lost 84 Cents.
JNJ $61.81 -0.16 0.26% 8,374,511 NYSE: No mentions found.
KFT $31.27 -0.04 0.13% 12,737,935 NYSE: No mentions found.
McDonalds MCD $74.64 -0.49 0.65% 5,914,063 NYSE: WSJ pB3 "McDonald's increases quarterly dividend by 11%" by Tess Stynes, Fin Times p15 "McDonald's in dividend raise" by Reuters, USA Today p1B "McDonald's fattens dividend," say this continues a series of increased payouts every year since it first paid dividends 34 years ago.
MRK $36.66 -0.30 0.81% 10,584,624 NYSE:
Microsoft MSFT $24.43 -0.18 0.73% 46,153,886 NASDAQ-GS: WSJ pB3 "FCC to open unused TV airwaves, extending WiFi's possibilities" by Amy Schatz, NYT pB3 "Broadbandis bolstered by changes from FCC" by Edwart Wyatt, USA Today p4B "FCC votes to pen up new world of super WiFi" by AP, say the FCC approved a plan to open vacant tv channels for wireless broadband, a win for high tech firms that have sought to use the airwaves for new services. Google, Microsoft & Dell are among the firms that have pushed the FCC to open up the airwaves and they have already been testing systems for using them.
Pfizer PFE $17.04 -0.18 1.05% 37,899,047 NYSE: No mentions found.
Procter & Gam PG $61.22 -0.57 0.92% 10,104,680 NYSE: No mentions found.
3M MMM $85.53 -1.10 1.27% 1,987,361 NYSE: No mentions found.
TRV $52.4 +0.07 0.13% 4,685,345 NYSE: No mentions found.
United Tech UTX $69.8 -0.78 1.11% 3,401,335 NYSE: No mentions found.
Verizon VZ $32.17 -0.22 0.68% 15,970,337 Dual Listed: WSJ pB4 "Verizon to change mobile data plans" by Roger Cheng said Verizon will soon start charging wireless customers based on their Internet data usage and introduce new plans with limits which would follow AT&T's decision in June to stop selling an unlimited data plan to new customers and begin selling 2 service plans with month caps.
Fin Times p13 "Verizon signals resumption of mobile unit dividends in '12" by Paul Taylor says Verizon Communications said it might resume paing dividends at its Verizon Wireless jv with Vodafone in '12.
WSJ pC8 "Overheard" says Verizon's CEO Ivan Seidenberg said that when cable operators deny "cord-cutting, subscribers ditching cable and watching video on the Internet, it reminds him when the phone industry denied losing land line phone customers to cell phones.
WMT $53.65 -0.17 0.32% 7,289,444 NYSE: WSJ pB1 "Discounted Ebooks spark outcry from French shops" by Max Colchester says the in France, a law bans the sale of books for less than 5% below cover price to protect independent booksellers. Walmart and target are known for offering printed books at steep discounts.
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Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Cathie Lesjak (Interim) (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Jeffrey Kindler (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 9/12/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $311.5 [5]
2. Microsoft MSFT 209 [9]
3. WalMart WMT 189 [3.5]
4. Procter & Gamble PG 171 [3]
5. GE 171 [10.5]
6. Johnson & Johnson JNJ 165 [3]
7. AT&T T 164.5 [6]
8. IBM 161.5 [1]
9. Chevron CVX 158.5 [2]
10. JPMorgan Chase JPM 157.5 [4]
11. Pfizer PFE 136.5 [8]
12. Bank of America BAC 136 [10]
13. Coke KO 135 [2.5]
14. Cisco CSCO 118 [6]
15. Merck MRK 112.5 [3]
16. Intel INTC 100 [5.5]
17. Verizon VZ 91.5 [3]
18. Hewlett-Packard HPQ 89 [2.5]
19. McDonald's MCD 80 [1]
20. Disney DIS 66 [2]
21. United Technologies UTX 64 [1]
22. 3M MMM 60 [.5]
23. Kraft KFT 53.5 [2]
24. Home Depot 49.5 [1.5]
25.American Express AXP 48 [1]
26. Boeing BA 47 [1]
27. Caterpillar CAT 45 [.5]
28. DuPont DD 38 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11.5 [1]
Here are the latest SEC filings as of 9/12/10 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: 9/2/10 8K re: issuance of 5.35% Notes due '40
8/19/10 8K re: agreement with Comm. Workers of America for a new 3 year contract for the 4,000 CWA workers in AT&T's East region
8/18/10 8K re: exchange offer of 5.35% Notes due '40 for outstanding 8.85% Sr. Notes of New Cingular Wireless due '31
8/6/10 10Q re: 2Q results 6/30/10
8/4/10 8K re: offer to exchange New Cingular Wireless Notes
7/30/10 8K re: sale of 2.5% Global Notes due '15
7/22/10 8K re: 2Q earnings
6/25/10 8K: re: amendments to employee compensation plans.
Alcoa AA: 8/24/10 8K re: tender offer for its 6% Notes due '12 & 5.3% Notes due '13
8/23/10 10Q/A amends prior 10Q
8/10/10 8K re: tender for notes due '12
8/3/10 8K re: sale of notes
7/27/10 8K re: offering of 6.15% notes due '20
7/23/10 8K re: election of Tony Theme CFO Engineered Products & Graeme Bottger, Controller
American Express AXP: 8/16/10 2 8Ks re: delinquency and write-off statistics
8/5/10 10Q 2Q results 6/30/10
7/22/10 8K 2Q results
7/21/10 8K re: Personnel changes & Board of Dir. elections
7/15/10 8K Delinquency & write-off statistics through 6/30/10
Bank of Am BAC: 8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
7/27/10 8K re: issuance of Euro Medium Term Notes
7/22/10 8K re: impairment resulting from fin'l reform legislation passed by Congress
Boeing BA: 8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
7/28/10 10Q 2Q 6/30/10
7/28/10 8K re 2Q results
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.
Caterpiller CAT: 8/26/10 10Q/A amends prior 10Q
8/19/10 8K re: July dealer statistics
7/30/10 10Q 1Q 6/30/10
7/22/10 8K (two of them) dealing with 4Q results for period ending 6/30/10
7/22/10 8K: re: dealer statistics
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.
/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.
Chevron CVX: 8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
7/12/10 8K re: updated on 2Q results
6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.
Cisco CSCO 9/10/10 Prelim Proxy Stmt re: Annual Shareholders Meeting on 11/18/10 at Santa Clara, Cal.
8/11/10 8K re: 4Q results fiscal year 7/31/10
6/29/108K 6/29/10 10b5-1 re: stock trading plans adopted by insiders
Coke KO 9/27/10 8K re: settlement in Georgia of one of 3 shareholder class action suits challenging takeover of CCE
8/27 & 8/24 8Ks re: refiling of Hart-Scott-Rodino filing & similar filing with Candadian Corp. Bureau to give regulators more time to review acquisition of Coca-Cola Enterprises
8/2/10 10Q 2Q 7/2/10
7/30/10 8K re: refiling of Hart-Scott-Rodino filing re: acquisition of Coca-Cola Enterprises
7/21/10 8K re: 2Q results
Disney DIS 8/10/10 10Q 3Q 6/27/10
8/10/10 8K re: 3Q results
DuPont DD: 7/27/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
4/29/10 8K re: voting results from annual meeting held on 4/28/10.
ExxonMobil XOM: 8/4/10 10Q 2Q 6/30/10
7/29/10 8K re: 2Q results
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
GE: 8/2/10 10Q 1Q 6/30/10
7/16/10 8K re: 2Q reports
6/16/10 8K re; election of James S. Tisch to Board of Directors. He is Pres. & CEO of Loew's.
Hewlett-Packard HPQ: 9/9/10 10Q
9/7/10 8K re; agreement to buy 3Par, Inc.
8/30/10 8K re: Board authorizing add'l $10 bil for share repurchases
8/23/10 8K re: proposal to buy 3Par for $24 per share cash
8/19/10 8K re: reporting 3Q results
8/6/10 8K re: resignation of Mark V. Hurd as chairman, CEO, Pres
8/2/10 8K re: settleemnt with US Dept. of Justice re: Rille Complaint
6/8/10 8K re: 10Q
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.
Home Depot HD: 9/10/10 re: sale of 3.95% Sr. Note due '20 & 5.4% Sr. Notes due '40
9/2/10 10Q
8/17/10 8K re: 2Q results 8/1/10
6/3/10 10Q
5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.
Intel INTC: 8/30/10 8K re: acquisition of Infineion's Wireless Business for $1.4 bil to close 1Q '11
8/27/10 8K re: lower expectations for 3Q result
8/19/10 8K re; transcript of conference call announcing acquisition of McAfee, Inc.
8/4/10 8K re: antitrust settlement with US Dept. of Justice
7/30/10 10Q 2Q 6/26/10
7/22/10 8K re: agreement with FTC to delay antitrust case while settlement talks continue.
7/16/10 8K re: Intel's interest in SMART Technologies Inc. which did an IPO.
7/14/10 8K re: CFO commenting on 2Q results.
7/13/10 8K re: 2Q results.
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.
IBM: 8/31/10 8K re: FD disclosure re:change in reporting operating income
8/4/10 8K re: issuance of $1.5 bil of debt
7/27/10 10Q 2Q 6/30/10
7/20/10 8K re: 2Q earnings presentation.
7/19/10 8K re: 2Q results ending 6/30/10.
JPMorganChase JPM: 8/6/10 10Q 2Q 6/30/10
7/22/10 8K re: completion of public offering of debt issues.
Johnson & Johnson JNJ : 8/18/10 8K: re: offer of 2.95% Notes due '20 & 4.5% Notes due '40
8/11/10 10Q 2Q 7/4/10
7/20/10 8K re: 2Q results ending 7/4/10
7/19/10 8K re: Bd of Dirs. election
7/12/10 K re: agreement to buy Micrus Endovascular.
Kraft KFT: 8/19/10 10Q/A amended prior 10Q
8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting
McDonalds MCD: 9/10/10 8K re: global sales in Aug. up 4.9%
8/10/10 8K re: July and end of year sale statistics
8/5/10 10Q 2Q 6/30/10
7/23/10 8K re: 2Q results ending 6/30/10
6/9/10 8K re: year to date sales figures
/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting
Merck MRK: 9/7/10 8K re: arbitration re: Meck's rights to distribute Remicade & Simponi based on agreements from Merck's acquisition of Schering-Plough
8/6/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
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.
Microsoft MSFT: 7/30/10 10K year ended 6/30/10
7/22/10 8K re: 4Q results ending 6/30/10.
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: 8/12/10 10Q 2Q 7/4/10
8/3/10 8K re: 2Q results
5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.
Procter & Gamble PG: 8/27/10 Proxy Stmt re: Annual Sahreholder Meeting to be held Tues. 10/12/10 at 9:00 am in Cincinnati, Ohio
8/13/10 10K year ended 6/30/10
8/3/10 8K re: exec comp plans
8/3/10 8K re: 4Q and year end results
7/13/10 8K re: declaration of quarterly dividend.
5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.
3M MMM: 8/30/10 8K re: acquisition of Cogent Inc. for $10.50 per share or $943 mil.
8/4/10 10Q 2Q 6/30/10
7/22/10 8K re: 2Q results
6/28/10 8K re: projected sales range for 2Q '10.
Travelers TRV: 7/22/10 8K & 10Q
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: 8/31/10 8K re: dedemption of 6.35% Notes due '11
8/19/10 8K re: deaprture of EVP Ari Bousbib to become CEO of IMS Health
7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
Verizon Communications Inc. VZ: 9/10/10 8K re: reclassification of results due to spin off of assets as a result of Alltel acquisition
7/29/10 10Q 2Q 6/30/10
7/27/10 8K re: 2Q results
7/23/10 8K re: 2Q results ending 6/30/10
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.
WalMart WMT: 9/1/10 10Q
8/17/10 8K re: 2Q results 7/31/10
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 Merchandising Officer effective 8/1/10.
6/29/10 8K re: appointment of Edwardo Castro-Wright as CEO for 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.
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