9/28/10 Tues pm Dow Closes 10,858.14 up 46.1 or 0.43%

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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.