Tuesday, September 7, 2010

9/7/10 Tues am Mark Hurd is Pres of Oracle


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Post No. 625 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 8/17/10 and an update of the Dow 30 component's SEC filings as of 8/17/10.

A read of Tuesdays issues of 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 Friday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Friday at 10,447.93 up 127.83 or 1.24% from Thursday's close of 10,320.19.47. For the week the Dow was up 297.28 or 2.93% from last Friday's close of 10,150.65. For the year the Dow is up 1.99%. Of the 30 Dow Companies: all 0 gained and none declined. The biggest gainer dollar-wise was IBM $127.58+ 2.54 2.03% 5,144,355 NYSE and percentage-wise was NYSE. The biggest decliner dollar-wise was NYSE and percentage-wise was Cisco CSCO $21.04 +0.52 2.53% 54,485,164 NASDAQ-GS 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, the trailing P/E ratio is 14.10 up from Friday's open of 13.92 (year ago it was 15.23) the P/E estimate is 12.50 up from Friday's 12.02 (year ago it was 14.91) and the current dividend yield is 2.69 down from Friday's 2.72 (it was 3.00 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 1,380.48 up 16.89 from Thursday's closing numerator of 1,363.59. 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 16.98 for Friday by the divisor (0.132129493) you get the increase in Friday's Dow of 127.83. 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 $46.02 up 0.57 from Thursday's Dow Jones Industrial Average average closing price of $45.45. The median closing price of Friday's Dow Jones Industrial Average was $41.07 (AXP/HPQ) up 0.79 from Thursday's Dow Jones median price of $40.28. The lowest volume was 3M MMM $83.48 +1.61 1.97% 2,939,611 NYSE and the highest volume again was Bank of America BAC $13.5 +0.22 1.66% 141,624,900 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 $1,689 ($138,048 - $136,359).

MarketWatch 9/3/10 Friday 4:24 pm by Kristina Peterson & Johnathan Cheng says investors pushed stocks up for the fourth day in a row, sailing into the long weekend on a high note as an encouraging jobs report sent stocks to their best pre-Labor Day week in two decades. The Dow Jones Industrial Average (DJIA 10,448, +127.83, +1.24%) finished up 127.98 points, or 1.24%, to 10447.93, putting the Dow up 2.9% on the week -- its first positive weekly showing since the beginning of August. The Dow also edged back into positive territory for the year. The market leaped after nonfarm payrolls data showed jobs slowing at half the rate predicted by economists. The Labor Department said the U.S. lost 54,000 jobs last month, about half of what economists had expected and matching the level of revised losses recorded the previous month. The unemployment rate, calculated using a separate household survey, edged up to 9.6%, as expected, from 9.5% for the previous two months. The Nasdaq Composite (COMP 2,234, +33.74, +1.53%) rose 1.53% to 2233.75, up 3.7% on the week. The Standard & Poor's 500-stock index (SPX 1,105, +14.41, +1.32%) tacked on 1.32% to 1104.47, putting its advance for the week at 3.7%. Goldman Sachs Group (GS 147.36, +0.07, +0.05%) rose 5.4% as financial stocks led the day's and week's gains. Morgan Stanley (MS 26.61, -0.05, -0.19%) gained 3.8%, J.P. Morgan Chase (JPM 39.16, -0.01, -0.03%) added 2.7% and Genworth Financial (GNW 12.03, +0.68, +5.99%) advanced 6%. Friday's jobs numbers followed recent reports on manufacturing and housing that also came in above expectations, extending a notable reversal from a long string of disappointing data that had driven the Dow's biggest August drop since 2001. Volume was light, with about 3.6 billion shares changing hands in NYSE composite trading, short of 2010's daily average of about five billion shares. The strong start to the month comes as investors have been encouraged that a double-dip recession may be avoided. But the economic recovery still looks weak; data released Friday by the Institute for Supply Management showed a slowing expansion in the U.S. nonmanufacturing sector last month. The U.S. Dollar Index 0 (DXY 82.02, -0.45, -0.54%) , reflecting the U.S. currency against a basket of six others, declined 0.5%. Treasurys slipped, pushing the yield on the 10-year note (UST10Y 2.71, +0.09, +3.31%) up to 2.71%. Crude-oil futures dropped to $74.34 a barrel, while gold futures also slipped. On the deals front, Goldcorp (GG 42.88, +0.04, +0.09%) slipped 2.3% after the gold miner agreed to acquire all outstanding shares of Andean Resources (CA:AND 6.98, +2.17, +45.11%) for $3.4 billion. Andean's principal asset is the Cerro Negro gold project located in Argentina. Shares of Take-Two Interactive Software Inc. (TTWO 9.48, -0.02, -0.21%) rallied 10% after the company reported an unexpected quarterly profit and said it expects a fiscal-year profit. Tax-preparation company H&R Block Inc. (HRB 13.40, +0.10, +0.75%) climbed 5.8% after reporting a smaller-than-expected loss from continuing operations. Campbell Soup Co. (CPB 36.22, +0.01, +0.03%) slipped 2.4% after its fiscal fourth-quarter earnings jumped 64% on prior-year write-downs, but revenue at its soup business weakened.

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

AT&T T $27.44 +0.04 0.15% 23,177,851 NYSE: No mentions found.

Alcoa AA $10.88 +0.05 0.46% 16,634,520 NYSE: No mentions found.

American Express AXP $41.8 +0.92 2.25% 10,887,663 NYSE: No mentions found.

Bank of America BAC $13.5 +0.22 1.66% 141,624,900 NYSE: No mentions found.

Boeing BA $64.64 +1.25 1.97% 3,471,592 NYSE: No mentions found.

Caterpillar CAT $70.08 +1.54 2.25% 7,837,604 NYSE: No mentions found.

Chevron CVX $78 +0.55 0.71% 7,197,605 NYSE: No mentions found.

Cisco CSCO $21.04 +0.52 2.53% 54,485,164 NASDAQ-GS: No mentions found.

Coca-Cola KO $57.56 +0.18 0.31% 7,433,809 NYSE: No mentions found.

Walt Disney DIS $34.67 +0.76 2.24% 8,473,757 NYSE: NYT pB3 "Chief of ABC news is said to plan his resignatin" says David Westin may resign from Disney's ABC News.

DuPont DD $42.51 +0.42 1% 6,967,330 NYSE: No mentions found.

ExxonMobil XOM $61.32 +0.26 0.43% 21,984,887 NYSE: No mentions found.

GE $15.3925 +0.2425 1.6% 64,341,094 NYSE: No mentions found.

Hewlett-Packard HPQ $40.34 +0.66 1.66% 18,115,294 NYSE: WSJ pB1 "Oracle shakeup brings in Hurd" by Ben Wortehn, NYT pB1 "Hurd is now a president at Oracle, HP's rival" by Ashlee Vance & USA Today p1B "Ex-HP chief Hurd named Oracle pres" says former Hewlett-Packard CEO Hurd has been named pres and a member of the board of Oracle. He will report to CEO Larry Ellison.

WSJ pB3 "Deals offer Dell multiple paths to goal" by Ben Worthen says Dell may have lost to Hewlett-Packard in its bid to buy 3Par but the firm has other options to expand beyond its core PC business. Last year Dell recruited Dave Johnson, a top m&a exec at iBM to beef up Dell's expertise in acquiring firms.

Home Depot HD $29.85 +0.44 1.5% 12,769,751 NYSE: AJC pA10 "Number of sales is Home Depot's focus" by Arielle Kass says the amount per customer has stayed flat for Home Depot at %2.30 for 2Q up a nickel from the prior year's quarter and it was $52.41 for the first 6 months of the year.

Intel INTC $18.43 +0.15 0.82% 59,143,155 NASDAQ-GS: No mentions found.

IBM $127.58+ 2.54 2.03% 5,144,355 NYSE: WSJ pB3 "Deals offer Dell multiple paths to goal" by Ben Worthen says Dell may have lost to Hewlett-Packard in its bid to buy 3Par but the firm has other options to expand beyond its core PC business. Last year Dell recruited Dave Johnson, a top m&a exec at iBM to beef up Dell's expertise in acquiring firms.

JPMorgan Chase JPM $39.17 +1.01 2.65% 34,135,589 NYSE: No mentions found.

Johnson & Johnson JNJ $58.93 +0.32 0.55% 7,533,329 NYSE: No mentions found.

Kraft KFT $30.58 +0.23 0.76% 7,535,087 NYSE: No mentions found.

McDonald's MCD $75.09 +0.07 0.09% 7,331,244 NYSE: No mentions found.

Merck MRK $35.59 0.24 0.68% 11,505,300 NYSE: No mentions found.

Microsoft MSFT $24.29 +0.35 1.46% 64,189,016 NASDAQ-GS: WSJ pB1 "Inquiry zeroes in on Google deal" by Amir Efrati says the Justice Dept is trying to see if Google would gain too much power over the online travel industry by acquiring ITA Software which powers the Web's most popular airline ticket search and booking sites. ITA is also used by Bing, Microsoft's search engine.

Pfizer PFE $16.46 +0.06 0.37% 33,007,771 NYSE: No mentions found.

Procter & Gamble PG $60.29 +0.22 0.37% 8,973,138 NYSE: No mentions found.

3M MMM $83.48 +1.61 1.97% 2,939,611 NYSE: No mentions found.

Travelers TRV $51.03 +0.81 1.61% 3,405,604 NYSE: No mentions found.

United Technologies UTX $68.26 +0.82 1.22% 4,315,904 NYSE: No mentions found.

Verizon VZ $30.2 +0.09 0.3% 20,987,445 Dual Listed: AJC pA11 "HTC challenges iPhone" by Joe McDonald, AP says HTC Corp. a Taiwanese maker of smart phones is trying to compete with Apple's iPhone. It supplies Verizon, Sprint & T-Mobile .

WalMart WMT $52.04 +0.28 0.54% 9,614,624 NYSE: No mentions found.

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 8/17/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $307.5 [5]
2. Microsoft MSFT 217 [9]
3. WalMart WMT 190 [3.5]
4. Procter & Gamble PG 170.5 [3]
5. GE 166 [10.5]
6. IBM 161.5 [1]
7. Johnson & Johnson JNJ 161.5 [3]
8. AT&T 158.5 [6]
9. Chevron CVX 155 [2]
10. JPMorgan Chase 149.5 [4]
11. Pfizer PFE 130 [8]
12. Coke KO 128 [2.5]
13. Bank of America BAC 133 [10]
14. Cisco CSCO 125.5 [6]
15. Intel INTC 109.5 [5.5]
16. Merck MRK 107.5 [3]
17. Hewlett-Packard HPQ 95 [2.5]
18. Verizon VZ 89.5 [3]
19. McDonald's MCD 77 [1]
20. United Technologies UTX 65 [1]
21. Disney DIS 64 [2]
22. 3M MMM 59 [.5]
23. American Express AXP 50 [1]
24. Kraft KFT 51 [2]
25. Boeing BA 47.5 [1]
26. Home Depot 47 [1.5]
27. Caterpillar CAT 44 [.5]
28. DuPont DD 37 [1]
29. Travelers 23.5 [.5]
30. Alcoa AA 11 [1]

Here are the latest SEC filings as of 8/17/10 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: 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.
5/24/10 8K: re: sale of its Sterling Commerce subsidiary to IBM for $1.4 billion in cash.

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

Caterpiller CAT: 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.
5/28/10 8K re: retirement of David B. Burritt, VP & CFO as of 6/1/10.

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 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 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: 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: 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: 8/4/10 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: 8/4/10 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 : 8/11/10 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: 8/6/10 10Q 2Q 6/30/10
8/5/10 8K re: 2Q results
5/21/10 8K: re voting

McDonalds MCD: 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: 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: 8/13/10 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: 8/4/10 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: 7/26/10 10Q 1Q 6/30/10
7/21/10 8K re: 2Q results
5/14/10 8K re: exercise of its rights to redeem $500 mil of outstanding 7.125% Notes due 11/15/10.

Verizon Communications Inc. VZ: 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: 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 Eduwardo Castro-Wright as CEO fo global.com & William S. Simon as CEO of Walmart U.S.
6/9/10 8K re: results of 6/4 annual meeting of shareholders.
6/14/10 10Q.