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Post No. 709 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 10/24/10 and an update of the Dow 30 component's SEC filings as of 10/24/10.
A read of Sunday's New York Times & Atlanta Journal & Constitution, Sat/Sun Wall St. Journal, Financial Times, & 11/1/10 Monday Barron's & Investor's Business Daily 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 11,118 up 4.54 or 0.04% from Thursday's close of 11,113.95. For the week the Dow was down 14.56 or 0.013% from last Friday's close of 11,132.56. For the month the Dow was down 3.06%. For the year the Dow is up 6.62%. Of the 30 Dow Jones component companies 18 gained and 12 declined. The biggest gainer dollar-wise was IBM $143.6 +2.70 1.92% 8,444,096 and percentage-wise was Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE. The biggest decliner dollar-wise and percentage wise was Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Fin Times p14 "Robust Microsoft earnings bright spot in tepid trade" by Hannah Kuchler says strong earnings from Microsoft lifted the stock but the broader indices were barely changed after figures showed the economy grew in line with expectations.
Sat. NYT pB7 "Dow finishes its best Oct in 4 years" by AP says athe Dow and nasdaq composite index edged higher Fri to close out the best Oct for the Dow in 4 years. Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points amid uncertainty over next week's elections. News that the nation's economy rose at an annual rate of just 2% in the 3 months ending in Sept had little effect on stock prices.
IBD pA1 "Stocks go nowhere in higher volume" by Paul Whitfield says the major indexes closed flat Fri as the stock market shrugged off mediocre economic data & a terror scare. Current outlook is the market is in a confirmed uptrend.
As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.16 up from Thursday's 14.07 (year ago it was 16.74) the P/E estimate is 13.15 unchanged from Thursday's P/E estimate of 13.25 (year ago it was 15.68) and the current dividend yield is 2.54 unchanged from yesterday's yield of 2.54 (it was 2.88 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 1,469.01 up 0.53 from Thursday's closing numerator of 1,468.48. 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 for today by the divisor (0.132129493) you get the increase in today's Dow. 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 $48.97 up 0.02 from Thursday's Dow Jones Industrial Average average closing price of $48.95. The median closing price of Thursday's Dow Jones Industrial Average was $41.75 (HPQ/AXP) downp 0.19 from Thursday's median price of $41.94. The lowest volume was United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE and the highest volume was again Bank of America BAC $11.449 -0.081 0.7% 126,825,092 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 $53 ($146,901 - $146,848).
MarketWatch Friday 10/29/10 4:58 pm by Donna Yesalavich says U.S. blue chip stocks edged up Friday while the Standard & Poor’s 500 index fell slightly in a quiet end to a strong October as investors bided their time before next week’s Federal Reserve meeting and midterm elections. The Dow Jones (DJIA 11,118, +4.54, +0.04%) closed up 4.54 points, or 0.04%, to 11118.49. Microsoft (MSFT 26.59, -0.08, -0.28%) was among the Dow’s best performers with a 1.5% rise. The software giant’s fiscal first-quarter profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office 2010. Microsoft is also the Dow’s best performer this month, up 9.1% over the period.Read about Microsoft’s results. Chevron and Merck helped limit the Dow’s gain. Chevron (CVX 82.61, +0.01, +0.01%) fell 2.2% after the oil major’s third-quarter earnings and revenue missed analysts’ expectations. Merck (MRK 36.25, -0.06, -0.17%) dropped 1.7% as the company’s earnings excluding items topped Wall Street estimates, but revenue fell short of forecasts. Read more on Chevron. The technology-heavy Nasdaq Composite (COMP 2,507, +0.04, +0.00%) rose 0.04% to 2507.41. The Standard & Poor’s 500-stock index (SPX 1,183, -0.52, -0.04%) was nearly unchanged at 1,183.26. The health-care sector slumped as Merck weighed.Friday, which marks the 81st anniversary of the Crash of 1929 known as “Black Tuesday,” was the final trading day of what has been a strong October for stocks. The Dow climbed 3.06% during the month and the S&P 500 rose 3.69% for October, the Dow’s best October since 2006 and the S&P 500’s best October since 2003. Even without the glamour of an iPad or another novel technology hit among consumers in its product lineup. This month’s climb has come on growing expectations that next week the Federal Reserve will announce more stimulus and midterm elections will lead to a Republican takeover of the House. “We’ve got a huge week next week,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “Today’s market may just be the perfect reflection of that quandary -- how big a position do you want to take leading into that?” Data released Friday showed the economy expanded in the third quarter at a slightly faster pace compared to the previous quarter, but growth remains too weak to cut unemployment any time soon. Gross domestic product, the value of all goods and services produced, rose at an annual rate of 2.0% after climbing 1.7% in the second quarter. Economists had expected 2.1% growth. The data showed inflation remains very soft. The Fed’s preferred gauge, the price index for personal consumption expenditures excluding volatile food and energy items, rose an annualized 0.8% in the third quarter, below the second quarter’s 1% increase.
The GDP report “means we’re not growing fast enough to make a dent in the unemployment rate,” said Jeff Applegate, chief investment officer at Morgan Stanley Smith Barney. He said that only adds to the case for the Fed to unveil a quantitative easing program next week. Other economic figures released Friday were mixed. Consumer-sentiment data from Reuters/University of Michigan showed the consumer mood darkened at the end of October, while the Chicago Business Barometer, formerly known as Chicago PMI, edged up from September and topped expectations. Read more on consumer sentiment. The dollar weakened slightly, with the U.S. Dollar Index (DXY 77.04, -0.27, -0.35%) , which tracks the U.S. currency against a basket of six others, off 0.2%. Meanwhile, Treasurys edged higher, pushing the yield on the 10-year note (UST10Y 2.60, -0.06, -2.40%) down to 2.62%. Crude-oil futures fell while gold futures were flat. Among stocks in focus, Genworth Financial (GNW 11.37, +0.04, +0.35%) tumbled 9.9%. The life insurer’s operating earnings unexpectedly dropped as stronger international operations couldn’t offset weakness in life and mortgage insurance. S&P Equity Research cut its target price on Genworth’s shares following the report. Adding to the downward pressure on the insurer’s shares, hedge-fund manager Steve Eisman said on Genworth’s third-quarter conference call that the company isn’t meeting its cost of capital in any of its businesses. He suggested Genworth consider shutting down some businesses and use the money saved to buy back shares. Monster Worldwide (MWW 17.98, -0.08, -0.44%) shares soared 26%. The employment website operator struck an optimistic tone as it reported stronger-than-forecast bookings in its third quarter, leading the company to narrow its loss projection for the year. The third quarter was the first since early 2008 that Monster has seen revenue, bookings and deferred revenue all grow year-over-year.
Friday's Dow Closing Numbers:
AT&T T $28.52 +0.02 0.07% 21,182,642 NYSE: No mentions found.
Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE: No mentions found.
American Express AXP $41.46+ 0.24 0.58% 9,598,191 NYSE: No mentions found.
Bank of America BAC $11.449 -0.081 0.7% 126,825,092 NYSE: Barron's p20 "A secret route to banking's potential riches" says a good way to play a rally in the depressed banking sector is via warrants on the shares of such firms as JPMorgan, Wells Fargo & Bank of America that were originally given to the Treasury in conjunction with the TARP money during '08 & '09.
WSJ pB1 "Big banks told not to fix a fraud" by Robbie Whelan says Ohio's atty gen'l threw a wrench into the banking industry's push to quickly restart foreclosures by fiing faulty paperwork, and pressed them to modify mortgage loans. Atty Gen'l Richard Cordray criticized a number of banks including Wells Faro, Ally Fin'l's GMAC, Bank of America and JPMorgan saying they were trying to paper over fraud committed in foreclosures with temporary fixes that don't address underlying problems in the banks' practices.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Boeing BA $70.64 -0.63 0.88% 3,202,225 NYSE: Barron's pM3 "The trader" by Kopin Tan says 4 of every 5 stocks are straining above their 50 day moving averages, a sign the extended market is ripe for a rest. Selling of shares by company insiders has also picked up in earnest & is particularly noticeable in stocks like McDonald's and Netflix as both push all time highs. Applied Signal Tech could be a takeover at 12 times '11 cash flow which is on par with the 11.8 multiple Boeing recently paid for Argon ST, a military sensor maker also highlighted here this summer.
Caterpillar CAT $78.6 +0.86 1.11% 4,563,895 NYSE: No mentions found.
Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE: IBD pA2 "Chevron profit hurt by drilling ban", WSJ pB3 "Currency trims net at Chevron" by Isabel Ordonez, Sat NYT pB2 "Chevron's profit falls on drilling moratorium" by AP say Chevron said its 3Q earnings fell 1.6% from a eyar ago as a weaker US dollar & higher costs ofset gains from rising oil prices and a stronger refining business. Chevron is the second largest US oil firm by market value after Exon. It had a 3Q profit of $3.77 bil or $1.87 a share, down from $3.83 bil or $1.92 a share a year earlier.
Cisco CSCO $22.86 -0.33 1.42% 44,587,820 NASDAQ-GS: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon which yields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p42 "Chasing the clouds" by Mark Veverka says tackling security issues on the cloud provides a golden opportunity for enterprise tech firms such as IBM & EMC. The adoption of the private cloud, data center consolidation controlled by the corporate customer" is terrific in the short term for the incumbents selling new servers, storage & software such as Hewlett-Packard, Cisco & Oracle who are not in a hurry to expand into lower margin public cloud services since their existing high margin businesses have been so good for so long.
Coke KO $61.32 +0.11 0.18% 7,120,138 NYSE: IBD pB9 "Coke bottler;s earnings top analysts' views" b Patrick Cain says the first quarterly report since CCE shed its n. Amer. biz came in last week, and concerns about the separation were put to rest for many investors. CCE sold off the div for $13 bil to Coke, which owns a big stake in CCE, to focus on its European unit. 3Q earnings rose 14% to 58 cents a share, topping estimates by a nickel Rev slipped 4% to $1.68 bil.
Sat. AJC PA12 "Pepsi faces Coke lawsuit" by Jeremiah McWilliams says Coke sued PepsiCo in fed court in Houston of violating a federal patent and trade dress protections by copying the packaging of Coke's line of Simply juices, which are sold in carafe-style bottles with oversized green caps.
Sat. AJC pA13 "3 new bottling plants show Coke's China gains" by Jremiah McWilliams says Coke opened 3 new bottling plants worth a combined $240 mil have opened in China.
Disney DIS $36.125 -0.385 1.05% 12,931,174 NYSE: WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
DuPont DD $47.28 +0.25 0.53% 5,428,358 NYSE: No mentions found.
Exxon XOM $66.49 +0.27 0.41% 19,270,797 NYSE: WSJ pB3 "Currency trims net at Chevron" by Isabel Ordonez says Chevron said its 3Q earnings fell 1.6% from a eyar ago as a weaker US dollar & higher costs ofset gains from rising oil prices and a stronger refining business. Chevron is the second largest US oil firm by market value after Exon. It had a 3Q profit of $3.77 bil or $1.87 a share, down from $3.83 bil or $1.92 a share a year earlier.
GE $16.02 -0.06 0.37% 38,174,397 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
Hewlett-Packard HPQ $42.04 -0.62 1.45% 18,187,411 NYSE: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon which yields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p42 "Chasing the clouds" by Mark Veverka says tackling security issues on the cloud provides a golden opportunity for enterprise tech firms such as IBM & EMC. The adoption of the private cloud, data center consolidation controlled by the corporate customer" is terrific in the short term for the incumbents selling new servers, storage & software such as Hewlett-Packard, Cisco & Oracle who are not in a hurry to expand into lower margin public cloud services since their existing high margin businesses have been so good for so long.
Home Depot HD $30.9 -0.29 0.93% 9,505,251 NYSE: No mentions found.
Intel INTC $20.05 -0.42 2.05% 60,774,304 NASDAQ-GS: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
IBM $143.6 +2.70 1.92% 8,444,096 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
JPMorgan Chase JPM $37.63 +0.12 0.32% 19,803,213 NYSE: Barron's p16 "Week Preview" says JPMOrgan Chase and HSBC were sued in Manhattan accusing hem of manipulating silver futures prices by amassing enormous short positions.
WSJ pB1 "Big banks told not to fix a fraud" by Robbie Whelan says Ohio's atty gen'l threw a wrench into the banking industry's push to quickly restart foreclosures by fiing faulty paperwork, and pressed them to modify mortgage loans. Atty Gen'l Richard Cordray criticized a number of banks including Wells Faro, Ally Fin'l's GMAC, Bank of America and JPMorgan saying they were trying to paper over fraud committed in foreclosures with temporary fixes that don't address underlying problems in the banks' practices.
Johnson & Johnson JNJ $63.74 +0.18 0.28% 9,309,827 NYSE: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Kraft KFT $32.27 +0.13 0.4% 6,614,660 NYSE: No mentions found.
McDonald's MCD $77.77 +0.29 0.37% 4,338,964 NYSE: Barron's pM3 "The trader" by Kopin Tan says 4 of every 5 stocks are straining above their 50 day moving averages, a sign the extended market is ripe for a rest. Selling of shares by company insiders has also picked up in earnest & is particularly noticeable in stocks like McDonald's and Netflix as both push all time highs. Applied Signal Tech could be a takeover at 12 times '11 cash flow which is on par with the 11.8 multiple Boeing recently paid for Argon ST, a military sensor maker also highlighted here this summer.
Merck MRK $36.31 -0.63 1.71% 15,230,540 NYSE: IBD pA2 "Merck profit tops, but sales miss", WSJ pB1 "Merck books $950 mil Vioxx charge" by Peter Loftus, Sat. NYT pB2 "Cost cuts help Merck to avert rev losses" by Bloomberg say Merck's profit plunged 90% as it set aside $950 mil to pay for an anticipated resolution of a gov probe of its former pain drug Vioxx. Merck agreed in '07 to pay $4.85 bil to settle thousands of Vioxx product liability lawsuits. its 3Q profit declined to $342 mil or 11 cents a sahre, from $3.4 bil or $1.61 a share a year earlier. 3Q sales were up 84% to $11.1 bil due to the Schering acquisition which closed in Nov. '09.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Microsoft MSFT $26.665 +0.385 1.46% 114,193,191 NASDAQ-GS: Barron's p41 "Thumbs up for Microsoft" by Eric Savitz says Microsoft has been on a specacular run over the past 10 years. It had $23 bil in rev in the June '00 fiscal year; in '10 it had $63 bil, an increase of 174%. Microsoft is still a buy.
Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p17 "Week preview" says on Tues 11/2 Microsoft discusses Windows Azure.
Sat. NYT pB1 "Microsoft's push into gesture tech" by Ashlee Vance sys Microsoft will buy Canesta, a small Silicon Valley firm that specializes in gesture recognition tech. Interest in this tech has surged because it lets people control computers and other devices through hand movements and other bodily gyrations.
Fin Times p3 "Immunology is super-interesting" by Gideon Rachman is an interview with Microsoft's founder, Bill Gates, which discusses the founding of Microsoft.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Fin Times p14 "Robust Microsoft earnings bright spot in tepid trade" by Hannah Kuchler says strong earnings from Microsoft lifted the stock but the broader indices were barely changed after figures showed the economy grew in line with expectations.
Pfizer PFE $17.415 -0.155 0.88% 40,226,507 NYSE: No mentions found.
Procter & Gamble PG $63.57 +0.38 0.6% 11,372,240 NYSE: No mentions found.
3M MMM $84.22 -0.85 1% 6,085,807 NYSE: No mentions found.
Travelers TRV $55.2 +0.46 0.84% 3,680,633 NYSE: Barron's p18 "Too much progress in this stock" says Progressive, the auto insurer, is fully priced. Other major P&C insurers like Chubb & Travelers trade around book while Allstate shares are flat in the past year.
Barron's p20 "A secret route to banking's potential riches" says a good way to play a rally in the depressed banking sector is via warrants on the shares of such firms as JPMorgan, Wells Fargo & Bank of America that were originally given to the Treasury in conjunction with the TARP money during '08 & '09.
United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
Verizon VZ $32.48 +0.07 0.22% 12,076,517 Dual Listed: No mentions found.
WalMart WMT $54.17 +0.09 0.17% 8,033,129 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
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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 Leo Apotheker (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 10/24/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $338 [5]
2. Microsoft MSFT 219.5 [9]
3. WalMart WMT 196.5 [3.5]
4. Procter & Gamble PG 180 [3]
5. IBM 176 [1]
6. Johnson & Johnson JNJ 176 [3]
7. GE 171.5 [10.5]
8. Chevron CVX 170 [2]
9. AT&T T 167 [6]
10. JPMorgan Chase JPM 149 [4]
11. Coke KO 142 [2.5]
12. Pfizer PFE 140 [8]
13. Cisco CSCO 134 [6]
14. Bank of America BAC 115 [10]
15. Merck MRK 114 [3]
16. Intel INTC 110.5 [5.5]
17. Hewlett-Packard HPQ 97 [2.5]
18. Verizon VZ 95 [3]
19. McDonald's MCD 83.5 [1]
20. United Technologies UTX 69.5 [1]
21. Disney DIS 67 [2]
22. 3M MMM 64.5 [.5]
23. Kraft KFT 55.5 [2]
24. Home Depot 52.5 [1.5]
25. Boeing BA 52 [1]
26. Caterpillar CAT 49 [.5]
27. American Express AXP 47 [1]
28. DuPont DD 42.5 [1]
29. Travelers 26 [.5]
30. Alcoa AA 13 [1]
Here are the latest SEC filings as of 10/24/10 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: 10/21/10 & 10/10/10 2 8K's re: 3Q earnings of $2.08 per share
10/1/10 8K re: settlement with IRS to pay $300 mil re: '08 tax returns
9/3/10 8K re: increasing Board from 12 to 13 & election of Matthew K. Rose as director
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
Alcoa AA: 10/22/10 10Q for 3Q ended 9/30/10
10/12 8K re: transcript of 3Q earnings conference
10/8/10 8K re: 3Q results
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
American Express AXP: 10/21/10 8K re: 3Q results
10/15/10 8K re: delinquency & write-off statistics
10/4/10 8K re: antitrust lawsuit filed by US Dept. of Justice accusing Amex of forcing merchants not to use competitors' services
9/15/10 8K re: delinquency & write-off stats
9/15/10 8K re: changes to certain credit cards
8/16/10 2 8Ks re: delinquency and write-off statistics
Bank of Am BAC: 10/20/108K re: registration of 50,354,545 shares
10/19/10 8K re: 3Q results
10/8/10 8K re: extension of BofA's review of foreclosures in all 50 states
8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
Boeing BA: 10/10/10 10Q re: 3Q ended 9/30/10
10/10/10 8K re: 3Q results of $1.12 per share
8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
Caterpiller CAT: 10/21/10 8K re: Sept. dealer stats
10/21/10 8K re: 3Q results
9/30/10 8K re: change of prices
9/21/10 8K re: credit facility
9/17/10 8K re: dealer stats
Chevron CVX: 10/12/10 *K re: 3Q fin'l update
9/30/10 8K re: bylaws amendments
8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
Cisco CSCO 9/28/10 Def. Proxy materials
9/22/10 8K re: stock trading plans for directors
9/21/10 10K for year ended 7/31/10
9/16/10 8K re: award of employee stock options
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
Coke KO 10/19/10 8K re: 3Q fin'l results
10/5/10 8K re: completion of buyout of Coca-Cola Enterprises
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: 10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm
10/3/10 8K re: 3Q earnings'9/28/10 8K re: NBC Universal offer to sell notes in a private placement
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
Hewlett-Packard HPQ: 10/18/10 8K re: election of Leo Aptheker as Pres/CEO
9/28/10 8K re: outlook for fiscal year '11
9/20/10 8K re: resolving litigation against ex-CEO mark Hurd
9/13/10 8K re: sale of Global Notes
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
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
Intel INTC: 10/13/10 & 10/12/10 2 8Ks re: results for 3Q ended 9/25/10
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.
IBM:10/19/10 & 10/18/10 2 8Ks re: results for 3Q ended 9/30/10
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
JPMorganChase JPM: 10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results
10/13/10 8K re: 3Q results of $1.01 per share
9/15/10 8K re: presentation to a US fin'l services investor conference
8/6/10 10Q 2Q 6/30/10
Johnson & Johnson JNJ : 10/19/10 8K re: results for 3Q ended 10/3/10
10/6/10 SC TO-C re: tender offer to buy Crucell N.V.
10/1/10 8K re; completion of acquisition of Micrus Endovascular Corp.
9/16/10 re: retirement of Colleen Goggins, Worldwide Chair of Consumer Group
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: 10/6/10 & 9/20/10 2 8Ks re: buyback of 5.125% Cadbury Notes due '13
9/15/10 8K re: new global growth strategy
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: 10/21/10 8K re: 3Q earnings rise 12%
9/24/10 8K re: dividend increase of 11% to 0.61 per share
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
Merck MRK:10/14/10 8K re: status of Remicade & Simponi arbitration
9/7/10 8K re: arbitration re: Merck'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.
Microsoft MSFT: 10/22; 10/12; 10/14; 10/1 & 9/30/10 Proxy Statement materials re: Annual Shareholder Meeting to be held on 11/16/10 at 8am at Meydenbauer Center, Bellevue WA
9/27/10 8K re: sale of notes
9/13/10 8K re: resignation of Stephen Elop as Pres. of Microsoft Bus. Div. to become CEO of Nokia
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:10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's pruchase of King Pharmaceuticals, Inc.
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: 10/14/10 8K re: voting results from 10/12/10 Annual Shareholders Meeting
10/12/10 8K re: dividend of 0.4818 cents per share
10/12/10 8K re: CEO's address at Annual Shareholders Meeting
8/27/10 Proxy Stmt re: Annual Shareholder 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.
3M MMM:10/8/10 SC TO-T/A re: tender offer statement re: Cogent offer
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:10/21/10 8K & 10Q re: 3Q ended 9/30/10
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
United Technologies UTX:10/20/10 8K re: 3Q results
9/24/10 8K re: departure of certain officers
8/31/10 8K re: redemption of 6.35% Notes due '11
8/19/10 8K re: departure 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: 10/22/10 8K re: 3Q results
10/18/10 8K re: in'l info re: divestitures relating to 1/09 acquisition of Alltel Corp.
9/20/10 8K re: appointment of Verizon Wireless Pres/CEO Lowell C. McAdams as Pres/COO of Verizon Communications effective 10/1/10
9/13/10 8K re: retirement of John F. Killian as CFO
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:10/22/10 8K re: issuance of Notes due 2013
9/29/10 8K re: election of Charles Holley as CFO
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.
Sunday, October 31, 2010
Saturday, October 30, 2010
10/30/10 Sat. Merck's Profit Down 90% due to Vioxx Reserve; Chevron's Down 1.6%
www.DowJonesMonitor.com
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Post No. 708 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 10/24/10 and an update of the Dow 30 component's SEC filings as of 10/24/10.
A read of Saturday's Wall St. Journal, Financial Times, New York Times & Atlanta Journal & Constitution & 11/1/10 Monday Barron's & Investor's Business Daily 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 11,118 up 4.54 or 0.04% from Thursday's close of 11,113.95. For the week the Dow was down 14.56 or 0.013% from last Friday's close of 11,132.56. For the month the Dow was down 3.06%. For the year the Dow is up 6.62%. Of the 30 Dow Jones component companies 18 gained and 12 declined. The biggest gainer dollar-wise was IBM $143.6 +2.70 1.92% 8,444,096 and percentage-wise was Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE. The biggest decliner dollar-wise and percentage wise was Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Fin Times p14 "Robust Microsoft earnings bright spot in tepid trade" by Hannah Kuchler says strong earnings from Microsoft lifted the stock but the broader indices were barely changed after figures showed the economy grew in line with expectations.
Sat. NYT pB7 "Dow finishes its best Oct in 4 years" by AP says athe Dow and nasdaq composite index edged higher Fri to close out the best Oct for the Dow in 4 years. Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points amid uncertainty over next week's elections. News that the nation's economy rose at an annual rate of just 2% in the 3 months ending in Sept had little effect on stock prices.
IBD pA1 "Stocks go nowhere in higher volume" by Paul Whitfield says the major indexes closed flat Fri as the stock market shrugged off mediocre economic data & a terror scare. Current outlook is the market is in a confirmed uptrend.
As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.16 up from Thursday's 14.07 (year ago it was 16.74) the P/E estimate is 13.15 unchanged from Thursday's P/E estimate of 13.25 (year ago it was 15.68) and the current dividend yield is 2.54 unchanged from yesterday's yield of 2.54 (it was 2.88 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 1,469.01 up 0.53 from Thursday's closing numerator of 1,468.48. 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 for today by the divisor (0.132129493) you get the increase in today's Dow. 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 $48.97 up 0.02 from Thursday's Dow Jones Industrial Average average closing price of $48.95. The median closing price of Thursday's Dow Jones Industrial Average was $41.75 (HPQ/AXP) downp 0.19 from Thursday's median price of $41.94. The lowest volume was United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE and the highest volume was again Bank of America BAC $11.449 -0.081 0.7% 126,825,092 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 $53 ($146,901 - $146,848).
MarketWatch Friday 10/29/10 4:58 pm by Donna Yesalavich says U.S. blue chip stocks edged up Friday while the Standard & Poor’s 500 index fell slightly in a quiet end to a strong October as investors bided their time before next week’s Federal Reserve meeting and midterm elections. The Dow Jones (DJIA 11,118, +4.54, +0.04%) closed up 4.54 points, or 0.04%, to 11118.49. Microsoft (MSFT 26.59, -0.08, -0.28%) was among the Dow’s best performers with a 1.5% rise. The software giant’s fiscal first-quarter profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office 2010. Microsoft is also the Dow’s best performer this month, up 9.1% over the period.Read about Microsoft’s results. Chevron and Merck helped limit the Dow’s gain. Chevron (CVX 82.61, +0.01, +0.01%) fell 2.2% after the oil major’s third-quarter earnings and revenue missed analysts’ expectations. Merck (MRK 36.25, -0.06, -0.17%) dropped 1.7% as the company’s earnings excluding items topped Wall Street estimates, but revenue fell short of forecasts. Read more on Chevron. The technology-heavy Nasdaq Composite (COMP 2,507, +0.04, +0.00%) rose 0.04% to 2507.41. The Standard & Poor’s 500-stock index (SPX 1,183, -0.52, -0.04%) was nearly unchanged at 1,183.26. The health-care sector slumped as Merck weighed.Friday, which marks the 81st anniversary of the Crash of 1929 known as “Black Tuesday,” was the final trading day of what has been a strong October for stocks. The Dow climbed 3.06% during the month and the S&P 500 rose 3.69% for October, the Dow’s best October since 2006 and the S&P 500’s best October since 2003. Even without the glamour of an iPad or another novel technology hit among consumers in its product lineup. This month’s climb has come on growing expectations that next week the Federal Reserve will announce more stimulus and midterm elections will lead to a Republican takeover of the House. “We’ve got a huge week next week,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “Today’s market may just be the perfect reflection of that quandary -- how big a position do you want to take leading into that?” Data released Friday showed the economy expanded in the third quarter at a slightly faster pace compared to the previous quarter, but growth remains too weak to cut unemployment any time soon. Gross domestic product, the value of all goods and services produced, rose at an annual rate of 2.0% after climbing 1.7% in the second quarter. Economists had expected 2.1% growth. The data showed inflation remains very soft. The Fed’s preferred gauge, the price index for personal consumption expenditures excluding volatile food and energy items, rose an annualized 0.8% in the third quarter, below the second quarter’s 1% increase.
The GDP report “means we’re not growing fast enough to make a dent in the unemployment rate,” said Jeff Applegate, chief investment officer at Morgan Stanley Smith Barney. He said that only adds to the case for the Fed to unveil a quantitative easing program next week. Other economic figures released Friday were mixed. Consumer-sentiment data from Reuters/University of Michigan showed the consumer mood darkened at the end of October, while the Chicago Business Barometer, formerly known as Chicago PMI, edged up from September and topped expectations. Read more on consumer sentiment. The dollar weakened slightly, with the U.S. Dollar Index (DXY 77.04, -0.27, -0.35%) , which tracks the U.S. currency against a basket of six others, off 0.2%. Meanwhile, Treasurys edged higher, pushing the yield on the 10-year note (UST10Y 2.60, -0.06, -2.40%) down to 2.62%. Crude-oil futures fell while gold futures were flat. Among stocks in focus, Genworth Financial (GNW 11.37, +0.04, +0.35%) tumbled 9.9%. The life insurer’s operating earnings unexpectedly dropped as stronger international operations couldn’t offset weakness in life and mortgage insurance. S&P Equity Research cut its target price on Genworth’s shares following the report. Adding to the downward pressure on the insurer’s shares, hedge-fund manager Steve Eisman said on Genworth’s third-quarter conference call that the company isn’t meeting its cost of capital in any of its businesses. He suggested Genworth consider shutting down some businesses and use the money saved to buy back shares. Monster Worldwide (MWW 17.98, -0.08, -0.44%) shares soared 26%. The employment website operator struck an optimistic tone as it reported stronger-than-forecast bookings in its third quarter, leading the company to narrow its loss projection for the year. The third quarter was the first since early 2008 that Monster has seen revenue, bookings and deferred revenue all grow year-over-year.
Friday's Dow Closing Numbers:
AT&T T $28.52 +0.02 0.07% 21,182,642 NYSE:
Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE:
American Express AXP $41.46+ 0.24 0.58% 9,598,191 NYSE:
Bank of America BAC $11.449 -0.081 0.7% 126,825,092 NYSE: Barron's p20 "A secret route to banking's potential riches" says a good way to play a rally in the depressed banking sector is via warrants on the shares of such firms as JPMorgan, Wells Fargo & Bank of America that were originally given to the Treasury in conjunction with the TARP money during '08 & '09.
WSJ pB1 "Big banks told not to fix a fraud" by Robbie Whelan says Ohio's atty gen'l threw a wrench into the banking industry's push to quickly restart foreclosures by fiing faulty paperwork, and pressed them to modify mortgage loans. Atty Gen'l Richard Cordray criticized a number of banks including Wells Faro, Ally Fin'l's GMAC, Bank of America and JPMorgan saying they were trying to paper over fraud committed in foreclosures with temporary fixes that don't address underlying problems in the banks' practices.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Boeing BA $70.64 -0.63 0.88% 3,202,225 NYSE: Barron's pM3 "The trader" by Kopin Tan says 4 of every 5 stocks are straining above their 50 day moving averages, a sign the extended market is ripe for a rest. Selling of shares by company insiders has also picked up in earnest & is particularly noticeable in stocks like McDonald's and Netflix as both push all time highs. Applied Signal Tech could be a takeover at 12 times '11 cash flow which is on par with the 11.8 multiple Boeing recently paid for Argon ST, a military sensor maker also highlighted here this summer.
Caterpillar CAT $78.6 +0.86 1.11% 4,563,895 NYSE:
Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE: IBD pA2 "Chevron profit hurt by drilling ban", WSJ pB3 "Currency trims net at Chevron" by Isabel Ordonez, Sat NYT pB2 "Chevron's profit falls on drilling moratorium" by AP say Chevron said its 3Q earnings fell 1.6% from a eyar ago as a weaker US dollar & higher costs ofset gains from rising oil prices and a stronger refining business. Chevron is the second largest US oil firm by market value after Exon. It had a 3Q profit of $3.77 bil or $1.87 a share, down from $3.83 bil or $1.92 a share a year earlier.
Cisco CSCO $22.86 -0.33 1.42% 44,587,820 NASDAQ-GS: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon which yields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p42 "Chasing the clouds" by Mark Veverka says tackling security issues on the cloud provides a golden opportunity for enterprise tech firms such as IBM & EMC. The adoption of the private cloud, data center consolidation controlled by the corporate customer" is terrific in the short term for the incumbents selling new servers, storage & software such as Hewlett-Packard, Cisco & Oracle who are not in a hurry to expand into lower margin public cloud services since their existing high margin businesses have been so good for so long.
Coke KO $61.32 +0.11 0.18% 7,120,138 NYSE: IBD pB9 "Coke bottler;s earnings top analysts' views" b Patrick Cain says the first quarterly report since CCE shed its n. Amer. biz came in last week, and concerns about the separation were put to rest for many investors. CCE sold off the div for $13 bil to Coke, which owns a big stake in CCE, to focus on its European unit. 3Q earnings rose 14% to 58 cents a share, topping estimates by a nickel Rev slipped 4% to $1.68 bil.
Sat. AJC PA12 "Pepsi faces Coke lawsuit" by Jeremiah McWilliams says Coke sued PepsiCo in fed court in Houston of violating a federal patent and trade dress protections by copying the packaging of Coke's line of Simply juices, which are sold in carafe-style bottles with oversized green caps.
Sat. AJC pA13 "3 new bottling plants show Coke's China gains" by Jremiah McWilliams says Coke opened 3 new bottling plants worth a combined $240 mil have opened in China.
Disney DIS $36.125 -0.385 1.05% 12,931,174 NYSE: WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
DuPont DD $47.28 +0.25 0.53% 5,428,358 NYSE:
Exxon XOM $66.49 +0.27 0.41% 19,270,797 NYSE: WSJ pB3 "Currency trims net at Chevron" by Isabel Ordonez says Chevron said its 3Q earnings fell 1.6% from a eyar ago as a weaker US dollar & higher costs ofset gains from rising oil prices and a stronger refining business. Chevron is the second largest US oil firm by market value after Exon. It had a 3Q profit of $3.77 bil or $1.87 a share, down from $3.83 bil or $1.92 a share a year earlier.
GE $16.02 -0.06 0.37% 38,174,397 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
Hewlett-Packard HPQ $42.04 -0.62 1.45% 18,187,411 NYSE: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon which yields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p42 "Chasing the clouds" by Mark Veverka says tackling security issues on the cloud provides a golden opportunity for enterprise tech firms such as IBM & EMC. The adoption of the private cloud, data center consolidation controlled by the corporate customer" is terrific in the short term for the incumbents selling new servers, storage & software such as Hewlett-Packard, Cisco & Oracle who are not in a hurry to expand into lower margin public cloud services since their existing high margin businesses have been so good for so long.
Home Depot HD $30.9 -0.29 0.93% 9,505,251 NYSE:
Intel INTC $20.05 -0.42 2.05% 60,774,304 NASDAQ-GS: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
IBM $143.6 +2.70 1.92% 8,444,096 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
JPMorgan Chase JPM $37.63 +0.12 0.32% 19,803,213 NYSE: Barron's p16 "Week Preview" says JPMOrgan Chase and HSBC were sued in Manhattan accusing hem of manipulating silver futures prices by amassing enormous short positions.
WSJ pB1 "Big banks told not to fix a fraud" by Robbie Whelan says Ohio's atty gen'l threw a wrench into the banking industry's push to quickly restart foreclosures by fiing faulty paperwork, and pressed them to modify mortgage loans. Atty Gen'l Richard Cordray criticized a number of banks including Wells Faro, Ally Fin'l's GMAC, Bank of America and JPMorgan saying they were trying to paper over fraud committed in foreclosures with temporary fixes that don't address underlying problems in the banks' practices.
Johnson & Johnson JNJ $63.74 +0.18 0.28% 9,309,827 NYSE: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Kraft KFT $32.27 +0.13 0.4% 6,614,660 NYSE:
McDonald's MCD $77.77 +0.29 0.37% 4,338,964 NYSE: Barron's pM3 "The trader" by Kopin Tan says 4 of every 5 stocks are straining above their 50 day moving averages, a sign the extended market is ripe for a rest. Selling of shares by company insiders has also picked up in earnest & is particularly noticeable in stocks like McDonald's and Netflix as both push all time highs. Applied Signal Tech could be a takeover at 12 times '11 cash flow which is on par with the 11.8 multiple Boeing recently paid for Argon ST, a military sensor maker also highlighted here this summer.
Merck MRK $36.31 -0.63 1.71% 15,230,540 NYSE: IBD pA2 "Merck profit tops, but sales miss", WSJ pB1 "Merck books $950 mil Vioxx charge" by Peter Loftus, Sat. NYT pB2 "Cost cuts help Merck to avert rev losses" by Bloomberg say Merck's profit plunged 90% as it set aside $950 mil to pay for an anticipated resolution of a gov probe of its former pain drug Vioxx. Merck agreed in '07 to pay $4.85 bil to settle thousands of Vioxx product liability lawsuits. its 3Q profit declined to $342 mil or 11 cents a sahre, from $3.4 bil or $1.61 a share a year earlier. 3Q sales were up 84% to $11.1 bil due to the Schering acquisition which closed in Nov. '09.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Microsoft MSFT $26.665 +0.385 1.46% 114,193,191 NASDAQ-GS: Barron's p41 "Thumbs up for Microsoft" by Eric Savitz says Microsoft has been on a specacular run over the past 10 years. It had $23 bil in rev in the June '00 fiscal year; in '10 it had $63 bil, an increase of 174%. Microsoft is still a buy.
Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p17 "Week preview" says on Tues 11/2 Microsoft discusses Windows Azure.
Sat. NYT pB1 "Microsoft's push into gesture tech" by Ashlee Vance sys Microsoft will buy Canesta, a small Silicon Valley firm that specializes in gesture recognition tech. Interest in this tech has surged because it lets people control computers and other devices through hand movements and other bodily gyrations.
Fin Times p3 "Immunology is super-interesting" by Gideon Rachman is an interview with Microsoft's founder, Bill Gates, which discusses the founding of Microsoft.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Fin Times p14 "Robust Microsoft earnings bright spot in tepid trade" by Hannah Kuchler says strong earnings from Microsoft lifted the stock but the broader indices were barely changed after figures showed the economy grew in line with expectations.
Pfizer PFE $17.415 -0.155 0.88% 40,226,507 NYSE:
Procter & Gamble PG $63.57 +0.38 0.6% 11,372,240 NYSE:
3M MMM $84.22 -0.85 1% 6,085,807 NYSE:
Travelers TRV $55.2 +0.46 0.84% 3,680,633 NYSE: Barron's p18 "Too much progress in this stock" says Progressive, the auto insurer, is fully priced. Other major P&C insurers like Chubb & Travelers trade around book while Allstate shares are flat in the past year.
Barron's p20 "A secret route to banking's potential riches" says a good way to play a rally in the depressed banking sector is via warrants on the shares of such firms as JPMorgan, Wells Fargo & Bank of America that were originally given to the Treasury in conjunction with the TARP money during '08 & '09.
United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
Verizon VZ $32.48 +0.07 0.22% 12,076,517 Dual Listed:
WalMart WMT $54.17 +0.09 0.17% 8,033,129 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
*****************************
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 Leo Apotheker (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 10/24/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $338 [5]
2. Microsoft MSFT 219.5 [9]
3. WalMart WMT 196.5 [3.5]
4. Procter & Gamble PG 180 [3]
5. IBM 176 [1]
6. Johnson & Johnson JNJ 176 [3]
7. GE 171.5 [10.5]
8. Chevron CVX 170 [2]
9. AT&T T 167 [6]
10. JPMorgan Chase JPM 149 [4]
11. Coke KO 142 [2.5]
12. Pfizer PFE 140 [8]
13. Cisco CSCO 134 [6]
14. Bank of America BAC 115 [10]
15. Merck MRK 114 [3]
16. Intel INTC 110.5 [5.5]
17. Hewlett-Packard HPQ 97 [2.5]
18. Verizon VZ 95 [3]
19. McDonald's MCD 83.5 [1]
20. United Technologies UTX 69.5 [1]
21. Disney DIS 67 [2]
22. 3M MMM 64.5 [.5]
23. Kraft KFT 55.5 [2]
24. Home Depot 52.5 [1.5]
25. Boeing BA 52 [1]
26. Caterpillar CAT 49 [.5]
27. American Express AXP 47 [1]
28. DuPont DD 42.5 [1]
29. Travelers 26 [.5]
30. Alcoa AA 13 [1]
Here are the latest SEC filings as of 10/24/10 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: 10/21/10 & 10/10/10 2 8K's re: 3Q earnings of $2.08 per share
10/1/10 8K re: settlement with IRS to pay $300 mil re: '08 tax returns
9/3/10 8K re: increasing Board from 12 to 13 & election of Matthew K. Rose as director
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
Alcoa AA: 10/22/10 10Q for 3Q ended 9/30/10
10/12 8K re: transcript of 3Q earnings conference
10/8/10 8K re: 3Q results
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
American Express AXP: 10/21/10 8K re: 3Q results
10/15/10 8K re: delinquency & write-off statistics
10/4/10 8K re: antitrust lawsuit filed by US Dept. of Justice accusing Amex of forcing merchants not to use competitors' services
9/15/10 8K re: delinquency & write-off stats
9/15/10 8K re: changes to certain credit cards
8/16/10 2 8Ks re: delinquency and write-off statistics
Bank of Am BAC: 10/20/108K re: registration of 50,354,545 shares
10/19/10 8K re: 3Q results
10/8/10 8K re: extension of BofA's review of foreclosures in all 50 states
8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
Boeing BA: 10/10/10 10Q re: 3Q ended 9/30/10
10/10/10 8K re: 3Q results of $1.12 per share
8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
Caterpiller CAT: 10/21/10 8K re: Sept. dealer stats
10/21/10 8K re: 3Q results
9/30/10 8K re: change of prices
9/21/10 8K re: credit facility
9/17/10 8K re: dealer stats
Chevron CVX: 10/12/10 *K re: 3Q fin'l update
9/30/10 8K re: bylaws amendments
8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
Cisco CSCO 9/28/10 Def. Proxy materials
9/22/10 8K re: stock trading plans for directors
9/21/10 10K for year ended 7/31/10
9/16/10 8K re: award of employee stock options
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
Coke KO 10/19/10 8K re: 3Q fin'l results
10/5/10 8K re: completion of buyout of Coca-Cola Enterprises
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: 10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm
10/3/10 8K re: 3Q earnings'9/28/10 8K re: NBC Universal offer to sell notes in a private placement
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
Hewlett-Packard HPQ: 10/18/10 8K re: election of Leo Aptheker as Pres/CEO
9/28/10 8K re: outlook for fiscal year '11
9/20/10 8K re: resolving litigation against ex-CEO mark Hurd
9/13/10 8K re: sale of Global Notes
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
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
Intel INTC: 10/13/10 & 10/12/10 2 8Ks re: results for 3Q ended 9/25/10
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.
IBM:10/19/10 & 10/18/10 2 8Ks re: results for 3Q ended 9/30/10
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
JPMorganChase JPM: 10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results
10/13/10 8K re: 3Q results of $1.01 per share
9/15/10 8K re: presentation to a US fin'l services investor conference
8/6/10 10Q 2Q 6/30/10
Johnson & Johnson JNJ : 10/19/10 8K re: results for 3Q ended 10/3/10
10/6/10 SC TO-C re: tender offer to buy Crucell N.V.
10/1/10 8K re; completion of acquisition of Micrus Endovascular Corp.
9/16/10 re: retirement of Colleen Goggins, Worldwide Chair of Consumer Group
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: 10/6/10 & 9/20/10 2 8Ks re: buyback of 5.125% Cadbury Notes due '13
9/15/10 8K re: new global growth strategy
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: 10/21/10 8K re: 3Q earnings rise 12%
9/24/10 8K re: dividend increase of 11% to 0.61 per share
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
Merck MRK:10/14/10 8K re: status of Remicade & Simponi arbitration
9/7/10 8K re: arbitration re: Merck'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.
Microsoft MSFT: 10/22; 10/12; 10/14; 10/1 & 9/30/10 Proxy Statement materials re: Annual Shareholder Meeting to be held on 11/16/10 at 8am at Meydenbauer Center, Bellevue WA
9/27/10 8K re: sale of notes
9/13/10 8K re: resignation of Stephen Elop as Pres. of Microsoft Bus. Div. to become CEO of Nokia
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:10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's pruchase of King Pharmaceuticals, Inc.
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: 10/14/10 8K re: voting results from 10/12/10 Annual Shareholders Meeting
10/12/10 8K re: dividend of 0.4818 cents per share
10/12/10 8K re: CEO's address at Annual Shareholders Meeting
8/27/10 Proxy Stmt re: Annual Shareholder 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.
3M MMM:10/8/10 SC TO-T/A re: tender offer statement re: Cogent offer
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:10/21/10 8K & 10Q re: 3Q ended 9/30/10
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
United Technologies UTX:10/20/10 8K re: 3Q results
9/24/10 8K re: departure of certain officers
8/31/10 8K re: redemption of 6.35% Notes due '11
8/19/10 8K re: departure 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: 10/22/10 8K re: 3Q results
10/18/10 8K re: in'l info re: divestitures relating to 1/09 acquisition of Alltel Corp.
9/20/10 8K re: appointment of Verizon Wireless Pres/CEO Lowell C. McAdams as Pres/COO of Verizon Communications effective 10/1/10
9/13/10 8K re: retirement of John F. Killian as CFO
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:10/22/10 8K re: issuance of Notes due 2013
9/29/10 8K re: election of Charles Holley as CFO
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.
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. 708 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 10/24/10 and an update of the Dow 30 component's SEC filings as of 10/24/10.
A read of Saturday's Wall St. Journal, Financial Times, New York Times & Atlanta Journal & Constitution & 11/1/10 Monday Barron's & Investor's Business Daily 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 11,118 up 4.54 or 0.04% from Thursday's close of 11,113.95. For the week the Dow was down 14.56 or 0.013% from last Friday's close of 11,132.56. For the month the Dow was down 3.06%. For the year the Dow is up 6.62%. Of the 30 Dow Jones component companies 18 gained and 12 declined. The biggest gainer dollar-wise was IBM $143.6 +2.70 1.92% 8,444,096 and percentage-wise was Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE. The biggest decliner dollar-wise and percentage wise was Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Fin Times p14 "Robust Microsoft earnings bright spot in tepid trade" by Hannah Kuchler says strong earnings from Microsoft lifted the stock but the broader indices were barely changed after figures showed the economy grew in line with expectations.
Sat. NYT pB7 "Dow finishes its best Oct in 4 years" by AP says athe Dow and nasdaq composite index edged higher Fri to close out the best Oct for the Dow in 4 years. Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points amid uncertainty over next week's elections. News that the nation's economy rose at an annual rate of just 2% in the 3 months ending in Sept had little effect on stock prices.
IBD pA1 "Stocks go nowhere in higher volume" by Paul Whitfield says the major indexes closed flat Fri as the stock market shrugged off mediocre economic data & a terror scare. Current outlook is the market is in a confirmed uptrend.
As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.16 up from Thursday's 14.07 (year ago it was 16.74) the P/E estimate is 13.15 unchanged from Thursday's P/E estimate of 13.25 (year ago it was 15.68) and the current dividend yield is 2.54 unchanged from yesterday's yield of 2.54 (it was 2.88 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 1,469.01 up 0.53 from Thursday's closing numerator of 1,468.48. 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 for today by the divisor (0.132129493) you get the increase in today's Dow. 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 $48.97 up 0.02 from Thursday's Dow Jones Industrial Average average closing price of $48.95. The median closing price of Thursday's Dow Jones Industrial Average was $41.75 (HPQ/AXP) downp 0.19 from Thursday's median price of $41.94. The lowest volume was United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE and the highest volume was again Bank of America BAC $11.449 -0.081 0.7% 126,825,092 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 $53 ($146,901 - $146,848).
MarketWatch Friday 10/29/10 4:58 pm by Donna Yesalavich says U.S. blue chip stocks edged up Friday while the Standard & Poor’s 500 index fell slightly in a quiet end to a strong October as investors bided their time before next week’s Federal Reserve meeting and midterm elections. The Dow Jones (DJIA 11,118, +4.54, +0.04%) closed up 4.54 points, or 0.04%, to 11118.49. Microsoft (MSFT 26.59, -0.08, -0.28%) was among the Dow’s best performers with a 1.5% rise. The software giant’s fiscal first-quarter profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office 2010. Microsoft is also the Dow’s best performer this month, up 9.1% over the period.Read about Microsoft’s results. Chevron and Merck helped limit the Dow’s gain. Chevron (CVX 82.61, +0.01, +0.01%) fell 2.2% after the oil major’s third-quarter earnings and revenue missed analysts’ expectations. Merck (MRK 36.25, -0.06, -0.17%) dropped 1.7% as the company’s earnings excluding items topped Wall Street estimates, but revenue fell short of forecasts. Read more on Chevron. The technology-heavy Nasdaq Composite (COMP 2,507, +0.04, +0.00%) rose 0.04% to 2507.41. The Standard & Poor’s 500-stock index (SPX 1,183, -0.52, -0.04%) was nearly unchanged at 1,183.26. The health-care sector slumped as Merck weighed.Friday, which marks the 81st anniversary of the Crash of 1929 known as “Black Tuesday,” was the final trading day of what has been a strong October for stocks. The Dow climbed 3.06% during the month and the S&P 500 rose 3.69% for October, the Dow’s best October since 2006 and the S&P 500’s best October since 2003. Even without the glamour of an iPad or another novel technology hit among consumers in its product lineup. This month’s climb has come on growing expectations that next week the Federal Reserve will announce more stimulus and midterm elections will lead to a Republican takeover of the House. “We’ve got a huge week next week,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “Today’s market may just be the perfect reflection of that quandary -- how big a position do you want to take leading into that?” Data released Friday showed the economy expanded in the third quarter at a slightly faster pace compared to the previous quarter, but growth remains too weak to cut unemployment any time soon. Gross domestic product, the value of all goods and services produced, rose at an annual rate of 2.0% after climbing 1.7% in the second quarter. Economists had expected 2.1% growth. The data showed inflation remains very soft. The Fed’s preferred gauge, the price index for personal consumption expenditures excluding volatile food and energy items, rose an annualized 0.8% in the third quarter, below the second quarter’s 1% increase.
The GDP report “means we’re not growing fast enough to make a dent in the unemployment rate,” said Jeff Applegate, chief investment officer at Morgan Stanley Smith Barney. He said that only adds to the case for the Fed to unveil a quantitative easing program next week. Other economic figures released Friday were mixed. Consumer-sentiment data from Reuters/University of Michigan showed the consumer mood darkened at the end of October, while the Chicago Business Barometer, formerly known as Chicago PMI, edged up from September and topped expectations. Read more on consumer sentiment. The dollar weakened slightly, with the U.S. Dollar Index (DXY 77.04, -0.27, -0.35%) , which tracks the U.S. currency against a basket of six others, off 0.2%. Meanwhile, Treasurys edged higher, pushing the yield on the 10-year note (UST10Y 2.60, -0.06, -2.40%) down to 2.62%. Crude-oil futures fell while gold futures were flat. Among stocks in focus, Genworth Financial (GNW 11.37, +0.04, +0.35%) tumbled 9.9%. The life insurer’s operating earnings unexpectedly dropped as stronger international operations couldn’t offset weakness in life and mortgage insurance. S&P Equity Research cut its target price on Genworth’s shares following the report. Adding to the downward pressure on the insurer’s shares, hedge-fund manager Steve Eisman said on Genworth’s third-quarter conference call that the company isn’t meeting its cost of capital in any of its businesses. He suggested Genworth consider shutting down some businesses and use the money saved to buy back shares. Monster Worldwide (MWW 17.98, -0.08, -0.44%) shares soared 26%. The employment website operator struck an optimistic tone as it reported stronger-than-forecast bookings in its third quarter, leading the company to narrow its loss projection for the year. The third quarter was the first since early 2008 that Monster has seen revenue, bookings and deferred revenue all grow year-over-year.
Friday's Dow Closing Numbers:
AT&T T $28.52 +0.02 0.07% 21,182,642 NYSE:
Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE:
American Express AXP $41.46+ 0.24 0.58% 9,598,191 NYSE:
Bank of America BAC $11.449 -0.081 0.7% 126,825,092 NYSE: Barron's p20 "A secret route to banking's potential riches" says a good way to play a rally in the depressed banking sector is via warrants on the shares of such firms as JPMorgan, Wells Fargo & Bank of America that were originally given to the Treasury in conjunction with the TARP money during '08 & '09.
WSJ pB1 "Big banks told not to fix a fraud" by Robbie Whelan says Ohio's atty gen'l threw a wrench into the banking industry's push to quickly restart foreclosures by fiing faulty paperwork, and pressed them to modify mortgage loans. Atty Gen'l Richard Cordray criticized a number of banks including Wells Faro, Ally Fin'l's GMAC, Bank of America and JPMorgan saying they were trying to paper over fraud committed in foreclosures with temporary fixes that don't address underlying problems in the banks' practices.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Boeing BA $70.64 -0.63 0.88% 3,202,225 NYSE: Barron's pM3 "The trader" by Kopin Tan says 4 of every 5 stocks are straining above their 50 day moving averages, a sign the extended market is ripe for a rest. Selling of shares by company insiders has also picked up in earnest & is particularly noticeable in stocks like McDonald's and Netflix as both push all time highs. Applied Signal Tech could be a takeover at 12 times '11 cash flow which is on par with the 11.8 multiple Boeing recently paid for Argon ST, a military sensor maker also highlighted here this summer.
Caterpillar CAT $78.6 +0.86 1.11% 4,563,895 NYSE:
Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE: IBD pA2 "Chevron profit hurt by drilling ban", WSJ pB3 "Currency trims net at Chevron" by Isabel Ordonez, Sat NYT pB2 "Chevron's profit falls on drilling moratorium" by AP say Chevron said its 3Q earnings fell 1.6% from a eyar ago as a weaker US dollar & higher costs ofset gains from rising oil prices and a stronger refining business. Chevron is the second largest US oil firm by market value after Exon. It had a 3Q profit of $3.77 bil or $1.87 a share, down from $3.83 bil or $1.92 a share a year earlier.
Cisco CSCO $22.86 -0.33 1.42% 44,587,820 NASDAQ-GS: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon which yields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p42 "Chasing the clouds" by Mark Veverka says tackling security issues on the cloud provides a golden opportunity for enterprise tech firms such as IBM & EMC. The adoption of the private cloud, data center consolidation controlled by the corporate customer" is terrific in the short term for the incumbents selling new servers, storage & software such as Hewlett-Packard, Cisco & Oracle who are not in a hurry to expand into lower margin public cloud services since their existing high margin businesses have been so good for so long.
Coke KO $61.32 +0.11 0.18% 7,120,138 NYSE: IBD pB9 "Coke bottler;s earnings top analysts' views" b Patrick Cain says the first quarterly report since CCE shed its n. Amer. biz came in last week, and concerns about the separation were put to rest for many investors. CCE sold off the div for $13 bil to Coke, which owns a big stake in CCE, to focus on its European unit. 3Q earnings rose 14% to 58 cents a share, topping estimates by a nickel Rev slipped 4% to $1.68 bil.
Sat. AJC PA12 "Pepsi faces Coke lawsuit" by Jeremiah McWilliams says Coke sued PepsiCo in fed court in Houston of violating a federal patent and trade dress protections by copying the packaging of Coke's line of Simply juices, which are sold in carafe-style bottles with oversized green caps.
Sat. AJC pA13 "3 new bottling plants show Coke's China gains" by Jremiah McWilliams says Coke opened 3 new bottling plants worth a combined $240 mil have opened in China.
Disney DIS $36.125 -0.385 1.05% 12,931,174 NYSE: WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
DuPont DD $47.28 +0.25 0.53% 5,428,358 NYSE:
Exxon XOM $66.49 +0.27 0.41% 19,270,797 NYSE: WSJ pB3 "Currency trims net at Chevron" by Isabel Ordonez says Chevron said its 3Q earnings fell 1.6% from a eyar ago as a weaker US dollar & higher costs ofset gains from rising oil prices and a stronger refining business. Chevron is the second largest US oil firm by market value after Exon. It had a 3Q profit of $3.77 bil or $1.87 a share, down from $3.83 bil or $1.92 a share a year earlier.
GE $16.02 -0.06 0.37% 38,174,397 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
Hewlett-Packard HPQ $42.04 -0.62 1.45% 18,187,411 NYSE: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon which yields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p42 "Chasing the clouds" by Mark Veverka says tackling security issues on the cloud provides a golden opportunity for enterprise tech firms such as IBM & EMC. The adoption of the private cloud, data center consolidation controlled by the corporate customer" is terrific in the short term for the incumbents selling new servers, storage & software such as Hewlett-Packard, Cisco & Oracle who are not in a hurry to expand into lower margin public cloud services since their existing high margin businesses have been so good for so long.
Home Depot HD $30.9 -0.29 0.93% 9,505,251 NYSE:
Intel INTC $20.05 -0.42 2.05% 60,774,304 NASDAQ-GS: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
IBM $143.6 +2.70 1.92% 8,444,096 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
JPMorgan Chase JPM $37.63 +0.12 0.32% 19,803,213 NYSE: Barron's p16 "Week Preview" says JPMOrgan Chase and HSBC were sued in Manhattan accusing hem of manipulating silver futures prices by amassing enormous short positions.
WSJ pB1 "Big banks told not to fix a fraud" by Robbie Whelan says Ohio's atty gen'l threw a wrench into the banking industry's push to quickly restart foreclosures by fiing faulty paperwork, and pressed them to modify mortgage loans. Atty Gen'l Richard Cordray criticized a number of banks including Wells Faro, Ally Fin'l's GMAC, Bank of America and JPMorgan saying they were trying to paper over fraud committed in foreclosures with temporary fixes that don't address underlying problems in the banks' practices.
Johnson & Johnson JNJ $63.74 +0.18 0.28% 9,309,827 NYSE: Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Kraft KFT $32.27 +0.13 0.4% 6,614,660 NYSE:
McDonald's MCD $77.77 +0.29 0.37% 4,338,964 NYSE: Barron's pM3 "The trader" by Kopin Tan says 4 of every 5 stocks are straining above their 50 day moving averages, a sign the extended market is ripe for a rest. Selling of shares by company insiders has also picked up in earnest & is particularly noticeable in stocks like McDonald's and Netflix as both push all time highs. Applied Signal Tech could be a takeover at 12 times '11 cash flow which is on par with the 11.8 multiple Boeing recently paid for Argon ST, a military sensor maker also highlighted here this summer.
Merck MRK $36.31 -0.63 1.71% 15,230,540 NYSE: IBD pA2 "Merck profit tops, but sales miss", WSJ pB1 "Merck books $950 mil Vioxx charge" by Peter Loftus, Sat. NYT pB2 "Cost cuts help Merck to avert rev losses" by Bloomberg say Merck's profit plunged 90% as it set aside $950 mil to pay for an anticipated resolution of a gov probe of its former pain drug Vioxx. Merck agreed in '07 to pay $4.85 bil to settle thousands of Vioxx product liability lawsuits. its 3Q profit declined to $342 mil or 11 cents a sahre, from $3.4 bil or $1.61 a share a year earlier. 3Q sales were up 84% to $11.1 bil due to the Schering acquisition which closed in Nov. '09.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Microsoft MSFT $26.665 +0.385 1.46% 114,193,191 NASDAQ-GS: Barron's p41 "Thumbs up for Microsoft" by Eric Savitz says Microsoft has been on a specacular run over the past 10 years. It had $23 bil in rev in the June '00 fiscal year; in '10 it had $63 bil, an increase of 174%. Microsoft is still a buy.
Barron's p31 "Bears, beware! 2010 Big money poll" by Jack Willoughby says money managers like dividend paing stocks such as Johnson & Johnson which yields 3.25%, Verizon whichyields 6% and Intel which yields 3.1% because its an out of favor old line tech with cash & great margins. Cisco, Microsoft and Hewlett-Packard are also favored.
Barron's p17 "Week preview" says on Tues 11/2 Microsoft discusses Windows Azure.
Sat. NYT pB1 "Microsoft's push into gesture tech" by Ashlee Vance sys Microsoft will buy Canesta, a small Silicon Valley firm that specializes in gesture recognition tech. Interest in this tech has surged because it lets people control computers and other devices through hand movements and other bodily gyrations.
Fin Times p3 "Immunology is super-interesting" by Gideon Rachman is an interview with Microsoft's founder, Bill Gates, which discusses the founding of Microsoft.
WSJ pB5 "Oct. was sweet for DJIA" by Donna Kardos Yesalavich syas blue chip stocks edged up , while the S&P 500 fell slightly in a quiet end to a strong Oct. as investors bided their time before net week's Fed Res meeting & midterm elections. Microsoft was among the Dow's best performers, rising 39 cents. It's profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office '10. Microsoft also was one of the Dow's best performers this month up 8.9% in Oct. Disney rose 9% in the month. Chevron & Merck helped limit the Dow's advance. Chevron fell $1.84 after its 3Q earnings and rev missed analysts' expectations. Merck shed 63 cents as its earnings excluding items topped Wall St. estimates, but rev fell short of forecasts. Bank of America's 13% for Oct. made it the biggest loser in Oct.
Fin Times p14 "Robust Microsoft earnings bright spot in tepid trade" by Hannah Kuchler says strong earnings from Microsoft lifted the stock but the broader indices were barely changed after figures showed the economy grew in line with expectations.
Pfizer PFE $17.415 -0.155 0.88% 40,226,507 NYSE:
Procter & Gamble PG $63.57 +0.38 0.6% 11,372,240 NYSE:
3M MMM $84.22 -0.85 1% 6,085,807 NYSE:
Travelers TRV $55.2 +0.46 0.84% 3,680,633 NYSE: Barron's p18 "Too much progress in this stock" says Progressive, the auto insurer, is fully priced. Other major P&C insurers like Chubb & Travelers trade around book while Allstate shares are flat in the past year.
Barron's p20 "A secret route to banking's potential riches" says a good way to play a rally in the depressed banking sector is via warrants on the shares of such firms as JPMorgan, Wells Fargo & Bank of America that were originally given to the Treasury in conjunction with the TARP money during '08 & '09.
United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
Verizon VZ $32.48 +0.07 0.22% 12,076,517 Dual Listed:
WalMart WMT $54.17 +0.09 0.17% 8,033,129 NYSE: Fin Times p8 "Executive anointments" by Francesco Guerrera, Jremy Lemer discusses corporate succession in light of Warren Buffett's slow search for a replacement and gives examples of corporate succession at GE, IBM, United Technologies & Walmart.
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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 Leo Apotheker (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 10/24/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $338 [5]
2. Microsoft MSFT 219.5 [9]
3. WalMart WMT 196.5 [3.5]
4. Procter & Gamble PG 180 [3]
5. IBM 176 [1]
6. Johnson & Johnson JNJ 176 [3]
7. GE 171.5 [10.5]
8. Chevron CVX 170 [2]
9. AT&T T 167 [6]
10. JPMorgan Chase JPM 149 [4]
11. Coke KO 142 [2.5]
12. Pfizer PFE 140 [8]
13. Cisco CSCO 134 [6]
14. Bank of America BAC 115 [10]
15. Merck MRK 114 [3]
16. Intel INTC 110.5 [5.5]
17. Hewlett-Packard HPQ 97 [2.5]
18. Verizon VZ 95 [3]
19. McDonald's MCD 83.5 [1]
20. United Technologies UTX 69.5 [1]
21. Disney DIS 67 [2]
22. 3M MMM 64.5 [.5]
23. Kraft KFT 55.5 [2]
24. Home Depot 52.5 [1.5]
25. Boeing BA 52 [1]
26. Caterpillar CAT 49 [.5]
27. American Express AXP 47 [1]
28. DuPont DD 42.5 [1]
29. Travelers 26 [.5]
30. Alcoa AA 13 [1]
Here are the latest SEC filings as of 10/24/10 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: 10/21/10 & 10/10/10 2 8K's re: 3Q earnings of $2.08 per share
10/1/10 8K re: settlement with IRS to pay $300 mil re: '08 tax returns
9/3/10 8K re: increasing Board from 12 to 13 & election of Matthew K. Rose as director
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
Alcoa AA: 10/22/10 10Q for 3Q ended 9/30/10
10/12 8K re: transcript of 3Q earnings conference
10/8/10 8K re: 3Q results
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
American Express AXP: 10/21/10 8K re: 3Q results
10/15/10 8K re: delinquency & write-off statistics
10/4/10 8K re: antitrust lawsuit filed by US Dept. of Justice accusing Amex of forcing merchants not to use competitors' services
9/15/10 8K re: delinquency & write-off stats
9/15/10 8K re: changes to certain credit cards
8/16/10 2 8Ks re: delinquency and write-off statistics
Bank of Am BAC: 10/20/108K re: registration of 50,354,545 shares
10/19/10 8K re: 3Q results
10/8/10 8K re: extension of BofA's review of foreclosures in all 50 states
8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
Boeing BA: 10/10/10 10Q re: 3Q ended 9/30/10
10/10/10 8K re: 3Q results of $1.12 per share
8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
Caterpiller CAT: 10/21/10 8K re: Sept. dealer stats
10/21/10 8K re: 3Q results
9/30/10 8K re: change of prices
9/21/10 8K re: credit facility
9/17/10 8K re: dealer stats
Chevron CVX: 10/12/10 *K re: 3Q fin'l update
9/30/10 8K re: bylaws amendments
8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
Cisco CSCO 9/28/10 Def. Proxy materials
9/22/10 8K re: stock trading plans for directors
9/21/10 10K for year ended 7/31/10
9/16/10 8K re: award of employee stock options
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
Coke KO 10/19/10 8K re: 3Q fin'l results
10/5/10 8K re: completion of buyout of Coca-Cola Enterprises
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: 10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm
10/3/10 8K re: 3Q earnings'9/28/10 8K re: NBC Universal offer to sell notes in a private placement
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
Hewlett-Packard HPQ: 10/18/10 8K re: election of Leo Aptheker as Pres/CEO
9/28/10 8K re: outlook for fiscal year '11
9/20/10 8K re: resolving litigation against ex-CEO mark Hurd
9/13/10 8K re: sale of Global Notes
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
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
Intel INTC: 10/13/10 & 10/12/10 2 8Ks re: results for 3Q ended 9/25/10
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.
IBM:10/19/10 & 10/18/10 2 8Ks re: results for 3Q ended 9/30/10
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
JPMorganChase JPM: 10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results
10/13/10 8K re: 3Q results of $1.01 per share
9/15/10 8K re: presentation to a US fin'l services investor conference
8/6/10 10Q 2Q 6/30/10
Johnson & Johnson JNJ : 10/19/10 8K re: results for 3Q ended 10/3/10
10/6/10 SC TO-C re: tender offer to buy Crucell N.V.
10/1/10 8K re; completion of acquisition of Micrus Endovascular Corp.
9/16/10 re: retirement of Colleen Goggins, Worldwide Chair of Consumer Group
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: 10/6/10 & 9/20/10 2 8Ks re: buyback of 5.125% Cadbury Notes due '13
9/15/10 8K re: new global growth strategy
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: 10/21/10 8K re: 3Q earnings rise 12%
9/24/10 8K re: dividend increase of 11% to 0.61 per share
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
Merck MRK:10/14/10 8K re: status of Remicade & Simponi arbitration
9/7/10 8K re: arbitration re: Merck'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.
Microsoft MSFT: 10/22; 10/12; 10/14; 10/1 & 9/30/10 Proxy Statement materials re: Annual Shareholder Meeting to be held on 11/16/10 at 8am at Meydenbauer Center, Bellevue WA
9/27/10 8K re: sale of notes
9/13/10 8K re: resignation of Stephen Elop as Pres. of Microsoft Bus. Div. to become CEO of Nokia
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:10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's pruchase of King Pharmaceuticals, Inc.
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: 10/14/10 8K re: voting results from 10/12/10 Annual Shareholders Meeting
10/12/10 8K re: dividend of 0.4818 cents per share
10/12/10 8K re: CEO's address at Annual Shareholders Meeting
8/27/10 Proxy Stmt re: Annual Shareholder 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.
3M MMM:10/8/10 SC TO-T/A re: tender offer statement re: Cogent offer
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:10/21/10 8K & 10Q re: 3Q ended 9/30/10
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
United Technologies UTX:10/20/10 8K re: 3Q results
9/24/10 8K re: departure of certain officers
8/31/10 8K re: redemption of 6.35% Notes due '11
8/19/10 8K re: departure 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: 10/22/10 8K re: 3Q results
10/18/10 8K re: in'l info re: divestitures relating to 1/09 acquisition of Alltel Corp.
9/20/10 8K re: appointment of Verizon Wireless Pres/CEO Lowell C. McAdams as Pres/COO of Verizon Communications effective 10/1/10
9/13/10 8K re: retirement of John F. Killian as CFO
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:10/22/10 8K re: issuance of Notes due 2013
9/29/10 8K re: election of Charles Holley as CFO
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.
Friday, October 29, 2010
10/29/10 Fri pm Dow Closes at 11,118 up 4.54 or 0.04%
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. 707 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 10/24/10 and an update of the Dow 30 component's SEC filings as of 10/24/10.
The Dow Jones Industrial Average closed Friday at 11,118 up 4.54 or 0.04% from Thursday's close of 11,113.95. For the week the Dow was down 14.56 or 0.013% from last Friday's close of 11,132.56. For the month the Dow was down 3.06%. Of the 30 Dow Jones component companies 18 gained and 12 declined. The biggest gainer dollar-wise was IBM $143.6 +2.70 1.92% 8,444,096 and percentage-wise was Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE. The biggest decliner dollar-wise and percentage wise was Chevron CVX $82.6 -1.84 2.18% 12,462,965 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 13.97 down from Thursday's 14.07 (year ago it was 16.75) the P/E estimate is 13.25 unchanged from Thursday's P/E estimate of 13.25 (year ago it was 16.03) and the current dividend yield is 2.54 unchanged from yesterday's yield of 2.54 (it was 2.83 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 1,469.01 up 0.53 from Thursday's closing numerator of 1,468.48. 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 for today by the divisor (0.132129493) you get the increase in today's Dow. 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 $48.97 up 0.02 from Thursday's Dow Jones Industrial Average average closing price of $48.95. The median closing price of Thursday's Dow Jones Industrial Average was $41.75 (HPQ/AXP) downp 0.19 from Thursday's median price of $41.94. The lowest volume was United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE and the highest volume was again Bank of America BAC $11.449 -0.081 0.7% 126,825,092 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 $53 ($146,901 - $146,848).
MarketWatch Friday 10/29/10 4:58 pm by Donna Yesalavich says U.S. blue chip stocks edged up Friday while the Standard & Poor’s 500 index fell slightly in a quiet end to a strong October as investors bided their time before next week’s Federal Reserve meeting and midterm elections. The Dow Jones (DJIA 11,118, +4.54, +0.04%) closed up 4.54 points, or 0.04%, to 11118.49. Microsoft (MSFT 26.59, -0.08, -0.28%) was among the Dow’s best performers with a 1.5% rise. The software giant’s fiscal first-quarter profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office 2010. Microsoft is also the Dow’s best performer this month, up 9.1% over the period.Read about Microsoft’s results. Chevron and Merck helped limit the Dow’s gain. Chevron (CVX 82.61, +0.01, +0.01%) fell 2.2% after the oil major’s third-quarter earnings and revenue missed analysts’ expectations. Merck (MRK 36.25, -0.06, -0.17%) dropped 1.7% as the company’s earnings excluding items topped Wall Street estimates, but revenue fell short of forecasts. Read more on Chevron. The technology-heavy Nasdaq Composite (COMP 2,507, +0.04, +0.00%) rose 0.04% to 2507.41. The Standard & Poor’s 500-stock index (SPX 1,183, -0.52, -0.04%) was nearly unchanged at 1,183.26. The health-care sector slumped as Merck weighed.Friday, which marks the 81st anniversary of the Crash of 1929 known as “Black Tuesday,” was the final trading day of what has been a strong October for stocks. The Dow climbed 3.06% during the month and the S&P 500 rose 3.69% for October, the Dow’s best October since 2006 and the S&P 500’s best October since 2003. Even without the glamour of an iPad or another novel technology hit among consumers in its product lineup. This month’s climb has come on growing expectations that next week the Federal Reserve will announce more stimulus and midterm elections will lead to a Republican takeover of the House. “We’ve got a huge week next week,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “Today’s market may just be the perfect reflection of that quandary -- how big a position do you want to take leading into that?” Data released Friday showed the economy expanded in the third quarter at a slightly faster pace compared to the previous quarter, but growth remains too weak to cut unemployment any time soon. Gross domestic product, the value of all goods and services produced, rose at an annual rate of 2.0% after climbing 1.7% in the second quarter. Economists had expected 2.1% growth. The data showed inflation remains very soft. The Fed’s preferred gauge, the price index for personal consumption expenditures excluding volatile food and energy items, rose an annualized 0.8% in the third quarter, below the second quarter’s 1% increase.
The GDP report “means we’re not growing fast enough to make a dent in the unemployment rate,” said Jeff Applegate, chief investment officer at Morgan Stanley Smith Barney. He said that only adds to the case for the Fed to unveil a quantitative easing program next week. Other economic figures released Friday were mixed. Consumer-sentiment data from Reuters/University of Michigan showed the consumer mood darkened at the end of October, while the Chicago Business Barometer, formerly known as Chicago PMI, edged up from September and topped expectations. Read more on consumer sentiment. The dollar weakened slightly, with the U.S. Dollar Index (DXY 77.04, -0.27, -0.35%) , which tracks the U.S. currency against a basket of six others, off 0.2%. Meanwhile, Treasurys edged higher, pushing the yield on the 10-year note (UST10Y 2.60, -0.06, -2.40%) down to 2.62%. Crude-oil futures fell while gold futures were flat. Among stocks in focus, Genworth Financial (GNW 11.37, +0.04, +0.35%) tumbled 9.9%. The life insurer’s operating earnings unexpectedly dropped as stronger international operations couldn’t offset weakness in life and mortgage insurance. S&P Equity Research cut its target price on Genworth’s shares following the report. Adding to the downward pressure on the insurer’s shares, hedge-fund manager Steve Eisman said on Genworth’s third-quarter conference call that the company isn’t meeting its cost of capital in any of its businesses. He suggested Genworth consider shutting down some businesses and use the money saved to buy back shares. Monster Worldwide (MWW 17.98, -0.08, -0.44%) shares soared 26%. The employment website operator struck an optimistic tone as it reported stronger-than-forecast bookings in its third quarter, leading the company to narrow its loss projection for the year. The third quarter was the first since early 2008 that Monster has seen revenue, bookings and deferred revenue all grow year-over-year.
Friday's Dow Closing Numbers:
AT&T T $28.52 +0.02 0.07% 21,182,642 NYSE
Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE
Amex AXP $41.46+ 0.24 0.58% 9,598,191 NYSE
Bank of Am BAC $11.449 -0.081 0.7% 126,825,092 NYSE
Boeing BA $70.64 -0.63 0.88% 3,202,225 NYSE
Caterpillar CAT $78.6 +0.86 1.11% 4,563,895 NYSE
Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE
CSCO $22.86 -0.33 1.42% 44,587,820 NASDAQ-GS
Coke KO $61.32 +0.11 0.18% 7,120,138 NYSE
Disney DIS $36.125 -0.385 1.05% 12,931,174 NYSE
DuPont DD $47.28 +0.25 0.53% 5,428,358 NYSE
Exxon XOM $66.49 +0.27 0.41% 19,270,797 NYSE
GE $16.02 -0.06 0.37% 38,174,397 NYSE
Hewlett-Packard HPQ $42.04 -0.62 1.45% 18,187,411 NYSE
Home Depot HD $30.9 -0.29 0.93% 9,505,251 NYSE
Intel INTC $20.05 -0.42 2.05% 60,774,304 NASDAQ-GS
IBM $143.6 +2.70 1.92% 8,444,096 NYSE
JPMorgan JPM $37.63 +0.12 0.32% 19,803,213 NYSE
JNJ $63.74 +0.18 0.28% 9,309,827 NYSE
KFT $32.27 +0.13 0.4% 6,614,660 NYSE
MCD $77.77 +0.29 0.37% 4,338,964 NYSE
MRK $36.31 -0.63 1.71% 15,230,540 NYSE
MSFT $26.665 +0.385 1.46% 114,193,191 NASDAQ-GS
Pfizer PFE $17.415 -0.155 0.88% 40,226,507 NYSE
Procter & GamblePG $63.57 +0.38 0.6% 11,372,240 NYSE
MMM $84.22 -0.85 1% 6,085,807 NYSE
Travelers TRV $55.2 +0.46 0.84% 3,680,633 NYSE
United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE
Verizon VZ $32.48 +0.07 0.22% 12,076,517 Dual Listed
WalMart WMT $54.17 +0.09 0.17% 8,033,129 NYSE
*********************
The following are excerpts from Friday 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 11,113.95 down 12.33 or 0.11% from Wednesday's close of 11,126.28. For the year the Dow is up 6.58%. Of the 30 Dow Jones component companies 19 gained, McDonald's was unchanged and 10 declined. The biggest gainer dollar-wise and percentage-wise was Disney DIS $36.51 +0.59 1.64% 14,205,936 NYSE. The biggest decliner dollar-wise and percentage wise was 3M MMM $85.07 -5.30 5.86% 16,203,456 NYSE.
WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
Fin Times p22 "Industrial stocks lead the fallers as 3M shaves forecast" by Hannah Kuchler says the industrial sector retreated after 3M said its recent acquisition spree would reduce earnings this year, in an otherwise choppy trading day.
NYT pB9 "Soft earnings reports produce mixed results" by AP says stocks struggled to a mixed finish on Thurs afte weak earnings news from 3M & other firms wweighed on the market.
USA Today p4B "Markets relatively flat amid mixed news" by AP says major stock indexes closed almost where they started Thurs as investors dug through a raft of earnings reports that painted a mixed picture about the economy.
Thursday's Dow Jones Industrial Average closing numerator was 1,468.48 down 1.63 from Wednesday's closing numerator of 1,470.11. 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 for today by the divisor (0.132129493) you get the decrease in today's Dow. 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 Thursday's Dow Jones Industrial Average was $48.95 down up 0.05 from Wednesday's Dow Jones Industrial Average average closing price of $49.00. The median closing price of Thursday's Dow Jones Industrial Average was $41.94 (HPQ/AXP) up 0.40 from Wednesday's median price of $41.54. The lowest volume was United Technologies UTX $74.7 +0.24 0.32% 3,140,980 NYSE and the highest volume was again Bank of America BAC $11.53 -0.01 0.09% 178,381,491 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 $152 ($147,000 - $146,848).
MarketWatch 10/28/10 4:25 pm by Steve Russolillo says Blue-chip stocks closed slightly lower Thursday despite a large drop in weekly jobless claims as investors grew more hesitant ahead of the Federal Reserve's meeting next week. The Dow Jones Industrial Average closed down 12.33 points, or 0.11%, to 11113.95, its second straight day of declines. 3M was the blue-chip index's worst performer, sliding 5.85, or 6.5%, to 84.52 after the consumer and industrial manufacturer narrowed its 2010 profit target. Also weighing on the Dow were Caterpillar, which fell 48 cents, or 0.6%, to 77.74 and Cisco Systems, which finished down 10 cents, or 0.4%, to 23.19. Meanwhile, Exxon Mobil gained 55 cents, or 0.8%, to 66.22, after its third-quarter earnings rose a bigger-than-expected 55%. The oil giant benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural-gas producer XTO Energy. "There's an old statement that 'all great climbers must rest,'" said Todd Morgan, senior managing director at Bel Air Investment Advisors. "This market needs to digest the terrific rise it's had over the last month and a half. This is healthy. Nothing goes straight up forever." The Dow's losses followed Wednesday's 43-point drop. Stocks have surged over the last few months, but investors are starting to fret over the scope and potential for another round of quantitative easing by the Federal Reserve. The central bank is expected to announce another round of bond buying at its meeting next week. "It feels like the market's struggling to maintain its momentum," said Bruce McCain, chief investment strategist at Key Private Bank. He added investors appear to be re-evaluating the impact another round of quantitative easing, known as QE2, will have on the overall economy. "[Investors] have been inclined to look at the positive side of QE2, but with businesses unwilling to borrow and other problems in the system that have led to lower lending, the Fed may be largely pushing on a string." The Standard & Poor's 500-stock index edged up 1.29 points, or 0.11%, to 1183.74, as the health-care and consumer-discretionary sectors led the gains. The broad index has posted gains in six of the last seven sessions. The technology-oriented Nasdaq Composite gained 4.11 points, or 0.16%, to 2507.37, and has risen in 14 of the last 16 sessions. Thursday's mixed results among the benchmark indexes occurred despite a better-than-expected reading on the labor market. Initial unemployment claims declined by 21,000, to 434,000, in the week ended Saturday, the Labor Department said. That brings claims down to levels last seen since the week ended July 10. Economists surveyed by Dow Jones Newswires had expected claims would rise by 3,000. Additionally, manufacturing activity in the Federal Reserve Bank of Kansas City's district continued to expand in October but at a slower rate than in September, according to a report released by the bank Thursday. The Kansas City Fed's manufacturing-production index, in a month-over-month comparison, slowed to 10 this month from 14 in September but was up from zero in August. Readings above zero denote expansion. Among companies that reported earnings, Dow Chemical fell 35 cents, or 1.1%, to 30.86, after the chemicals company reported a 25% drop in third-quarter profit because of the impact from divestitures. Eastman Kodak's third-quarter loss narrowed on fewer charges and much higher margins. The camera maker's results topped Wall Street's expectations. Shares surged 61 cents, or 15%, to 4.58. Las Vegas Sands swung to a third-quarter profit. The company posted record revenue resulting from strong growth at its casinos in the China gambling enclave of Macau and the first full quarter of operations at its Singapore casino. Shares jumped 3.57, or 8.7%, to 44.63. Motorola's third-quarter profit soared as the speedy release of new smartphones using Google's Android software propelled the mobile-devices unit to its first operating profit in more than three years. Shares rose four cents, or 0.5%, to 8.13. In the currency markets, the dollar weakened against both the euro and the yen. The euro traded recently at $1.3927, up from $1.3768 late Wednesday in New York. The U.S. Dollar Index, which tracks the currency against a basket of six others, fell 1.1%. Demand for Treasurys rose, pushing the yield on the 10-year note down to 2.67%. Comex gold for November delivery gained 1.5% to settle at $1,342.10 per troy ounce and crude-oil prices edged up 24 cents, or 0.3%, to $82.18 a barrel.
Thursday's Dow Closing Numbers & Today's News:
AT&T T $28.5 +0.15 0.53% 21,708,552 NYSE: WSJ pC10 "Motorola's Smartphone challenge" by Rolfe Winkler says differentiating Google's Android phones against the iPHone is hard. Motorola's Droids cost Verizon about two thirds what AT&T pays for the iPhone. Verizon has been Motorola's most important partner, driving 60% of Motorola's smartphone sales last quarter.
Alcoa AA $12.65 -0.05 0.39% 16,054,386 NYSE: No mentions found.
Amex AXP $41.22 +0.54 1.33% 14,732,104 NYSE: No mentions found.
Bank of Am BAC $11.53 -0.01 0.09% 178,381,491 NYSE: No mentions found.
Boeing BA $71.27 +0.41 0.58% 4,026,024 NYSE: WSJ pB8 "Boeing's 737 gets new look" by Peer Sandes says Boeing delivered on Wed the first of ts best selling 737s outfitted with a glitzy new interior as it ponders the future of this jet. It hopes the Sky inerior which is slated to be installed on 1,200 of the ore than 2,000 737s on order, combined with a number of small design changes to improve fuel efficiency will keep the plane selling.
Caterpillar CAT $77.74 -0.48 0.61% 7,055,215 NYSE: WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
Chevron CVX $84.44 +0.13 0.15% 8,498,469 NYSE: No mentions found.
CSCO $23.19 -0.10 0.43% 33,549,805 NASDAQ-GS: WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
Coke KO $61.21 +0.02 0.03% 8,266,796 NYSE: AJC pA21 "coca-Cola bottler reports increases" by Jeremiah McWilliams says CCE had increased in 3Q sales and profits, marking a solid start to its new identiy as a Europe focused firm as rev from europe rose 4.5%. Profits were $208 mil or 61 cents & do not include N Amer. results.
Disney DIS $36.51 +0.59 1.64% 14,205,936 NYSE: No mentions found.
DuPont DD $47.03 +0.07 0.15% 6,298,872 NYSE: No mentions found.
Exxon XOM $66.22 +0.55 0.84% 20,293,653 NYSE: WSJ pB4 "Shell, Exxon dodge weak prices for gas" by Guy Chazan, Fin times p13 "Oil price rise & better margins fuel Exxon & Shell earnings" by Sylvia Pfeifer, NYT pB3 "Exxon profit soars 55% as oil prices rebound" by Cliff Krauss say Exxon and Royal Dutch Shell reported big increases in 3Q earnings benefiting from higher oil prices & shrugging of low prices for US natural gas. Exxon had profits of $7.35 bil or $1.44 a share, up from $4.73 bil or 98 cents a share a year earlier. Rev rose 16% to $95.3 bi.
WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
GE $16.08 -0.03 0.19% 44,220,563 NYSE: WSJ pB1 "India deal puts China in GE's league" by James Areddy says China signed a $10 global power equipment dealto provide power to Indian Reliance ADA Group which now has China threatening established suppliers of tech such as GE, Siemens and Alstom.
Hewlett-Packard HPQ $42.66 +0.27 0.64% 15,139,122 NYSE: No mentions found.
Home Depot HD $31.19 +0.29 0.94% 7,902,704 NYSE: No mentions found.
Intel INTC $20.47 +0.28 1.39% 71,025,600 NASDAQ-GS: No mentions found.
IBM $140.9 -0.53 0.37% 5,481,544 NYSE: WSJ pB1 "Microsoft net leaps on core products" by Nick Wingfield say Microsoft posted a 51% profit jump as its core products, Windows & Office, continued to thrive, even as big investments in new consumer products have been slow to pay off. Apple earlier this year passed Microsoft to become the most valuable tech firm, with a $280 bil market cap to MSFT's $227 bil. Rev for MSFT was $16.2 bil up 25% from a year earlier. Businesss oriented firms such as IBM have also reported strong growth.
JPMorgan JPM $37.51 -0.03 0.08% 30,526,390 NYSE: WSJ pC10 "Hedge funds are starting a long awaited merger feast" by Hester Plumridge says JPMorgan's hedge fund, Highbridge, bought part of Brazil's Gavea Inestimentos in Oct.
JNJ $63.56 -0.01 0.02% 10,109,548 NYSE: WSJ pB1 "Strides against Hepatitis C open door to blockbusters" by Jonathan Rockoff says drug makers Merck, Johnson & Johnson & Bristol-Myers have been racing to come up with new treatments for Hepatitis C. Leading the way is telaprevir from J&J partnership with Vertex Pharmaceuticals & boceprevir from Merck.
KFT $32.14 +0.14 0.44% 7,089,088 NYSE: No mentions found.
MCD $77.48 unch unch 5,332,455 NYSE: Daily Report p6 "McDonald's case can't proceed as a group suit" by Andrew M. Harris, Bloomberg says a Manhattan ed judge said that a lawsuit filed in '02 claiming Mcdonald's deceptively marketed to cause obesity cannot proceed as a class action.
MRK $36.94 +0.48 1.32% 9,834,971 NYSE: WSJ pB1 "Strides against Hepatitis C open door to blockbusters" by Jonathan Rockoff says drug makers Merck, Johnson & Johnson & Bristol-Myers have been racing to come up with new treatments for Hepatitis C. Leading the way is telaprevir from J&J partnership with Vertex Pharmaceuticals & boceprevir from Merck.
MSFT $26.28 +0.23 0.88% 78,251,439 NASDAQ-GS: WSJ pB1 "Microsoft net leaps on core products" by Nick Wingfield, NYT pB3 "Sales of video games & PC software lift Microsoft" by Steve Lohr, USA Today p1B "Microsoft's quarterly profit 52% higher than last year" by Byron Acohido say Microsoft posted a 51% profit jump as its core products, Windows & Office, continued to thrive, even as big investments in new consumer products have been slow to pay off. Apple earlier this year passed Microsoft to become the most valuable tech firm, with a $280 bil market cap to MSFT's $227 bil. Rev for MSFT was $16.2 bil up 25% from a year earlier. Income for the quarter was $.41 bil or 62 cents a share up from $3.57 bil or 40 cents a share a year earlier. Businesss oriented firms such as IBM have also reported strong growth.
Pfizer PFE $17.57 +0.29 1.68% 33,762,215 NYSE: No mentions found.
Procter & Gamble PG $63.19 +0.11 0.17% 9,192,969 NYSE: No mentions found.
3M MMM $85.07 -5.30 5.86% 16,203,456 NYSE: WSJ pB4 "Sales in emerging markets boost 3M" by James Hagerty, NYT pB6 "3M reports higher profit & sales, but lowers its forecast" by Reuters say 3M reported a 16% increase in 3Q earnings as surging sales in developing nations made up for slow growthin Europe & the US. Shares slipped as it cut its forecast of sales growth to 11% well below the 17% sales growth in the first 9 months. Earnings icnreased to $1.11 bil or $1.53 a share from $957 mil or $1.35 a share, a eyar earlier. Rev jumped 11% to $6.87 bil.
WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy. 3M is charted under Bad News.
Travelers TRV $54.74 +0.01 0.02% 3,610,280 NYSE: No mentions found.
United Technologies UTX $74.7 +0.24 0.32% 3,140,980 NYSE: No mentions found.
Verizon VZ $32.41 -0.10 0.31% 15,361,993 Dual Listed: WSJ pB7 "Verison Wireless settles with FCC" by Shayndi Raices says Verizon settled a case with the FCC involving their charging "mystery fees" by pahying $25 mil to the US & refunding $2.8 mil.
WSJ pC10 "Motorola's Smartphone challenge" by Rolfe Winkler says differentiating Google's Android phones against the iPHone is hard. Motorola's Droids cost Verizon about two thirds what AT&T pays for the iPhone. Verizon has been Motorola's most important partner, driving 60% of Motorola's smartphone sales last quarter.
WMT $54.08 +0.21 0.39% 8,178,076 NYSE: WSJ pB3 "Walmart reassesses Massmart offer" by Robb Stewart, Fin times p15 "Walmart rethinks Africa move" by Simon Mundy say that instead of seeking a full takeover of Massmart it make only take control to preserve the S. African's Johannesburg listing.
*****************************
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 Leo Apotheker (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 10/24/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $338 [5]
2. Microsoft MSFT 219.5 [9]
3. WalMart WMT 196.5 [3.5]
4. Procter & Gamble PG 180 [3]
5. IBM 176 [1]
6. Johnson & Johnson JNJ 176 [3]
7. GE 171.5 [10.5]
8. Chevron CVX 170 [2]
9. AT&T T 167 [6]
10. JPMorgan Chase JPM 149 [4]
11. Coke KO 142 [2.5]
12. Pfizer PFE 140 [8]
13. Cisco CSCO 134 [6]
14. Bank of America BAC 115 [10]
15. Merck MRK 114 [3]
16. Intel INTC 110.5 [5.5]
17. Hewlett-Packard HPQ 97 [2.5]
18. Verizon VZ 95 [3]
19. McDonald's MCD 83.5 [1]
20. United Technologies UTX 69.5 [1]
21. Disney DIS 67 [2]
22. 3M MMM 64.5 [.5]
23. Kraft KFT 55.5 [2]
24. Home Depot 52.5 [1.5]
25. Boeing BA 52 [1]
26. Caterpillar CAT 49 [.5]
27. American Express AXP 47 [1]
28. DuPont DD 42.5 [1]
29. Travelers 26 [.5]
30. Alcoa AA 13 [1]
Here are the latest SEC filings as of 10/24/10 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: 10/21/10 & 10/10/10 2 8K's re: 3Q earnings of $2.08 per share
10/1/10 8K re: settlement with IRS to pay $300 mil re: '08 tax returns
9/3/10 8K re: increasing Board from 12 to 13 & election of Matthew K. Rose as director
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
Alcoa AA: 10/22/10 10Q for 3Q ended 9/30/10
10/12 8K re: transcript of 3Q earnings conference
10/8/10 8K re: 3Q results
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
American Express AXP: 10/21/10 8K re: 3Q results
10/15/10 8K re: delinquency & write-off statistics
10/4/10 8K re: antitrust lawsuit filed by US Dept. of Justice accusing Amex of forcing merchants not to use competitors' services
9/15/10 8K re: delinquency & write-off stats
9/15/10 8K re: changes to certain credit cards
8/16/10 2 8Ks re: delinquency and write-off statistics
Bank of Am BAC: 10/20/108K re: registration of 50,354,545 shares
10/19/10 8K re: 3Q results
10/8/10 8K re: extension of BofA's review of foreclosures in all 50 states
8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
Boeing BA: 10/10/10 10Q re: 3Q ended 9/30/10
10/10/10 8K re: 3Q results of $1.12 per share
8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
Caterpiller CAT: 10/21/10 8K re: Sept. dealer stats
10/21/10 8K re: 3Q results
9/30/10 8K re: change of prices
9/21/10 8K re: credit facility
9/17/10 8K re: dealer stats
Chevron CVX: 10/12/10 *K re: 3Q fin'l update
9/30/10 8K re: bylaws amendments
8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
Cisco CSCO 9/28/10 Def. Proxy materials
9/22/10 8K re: stock trading plans for directors
9/21/10 10K for year ended 7/31/10
9/16/10 8K re: award of employee stock options
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
Coke KO 10/19/10 8K re: 3Q fin'l results
10/5/10 8K re: completion of buyout of Coca-Cola Enterprises
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: 10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm
10/3/10 8K re: 3Q earnings'9/28/10 8K re: NBC Universal offer to sell notes in a private placement
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
Hewlett-Packard HPQ: 10/18/10 8K re: election of Leo Aptheker as Pres/CEO
9/28/10 8K re: outlook for fiscal year '11
9/20/10 8K re: resolving litigation against ex-CEO mark Hurd
9/13/10 8K re: sale of Global Notes
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
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
Intel INTC: 10/13/10 & 10/12/10 2 8Ks re: results for 3Q ended 9/25/10
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.
IBM:10/19/10 & 10/18/10 2 8Ks re: results for 3Q ended 9/30/10
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
JPMorganChase JPM: 10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results
10/13/10 8K re: 3Q results of $1.01 per share
9/15/10 8K re: presentation to a US fin'l services investor conference
8/6/10 10Q 2Q 6/30/10
Johnson & Johnson JNJ : 10/19/10 8K re: results for 3Q ended 10/3/10
10/6/10 SC TO-C re: tender offer to buy Crucell N.V.
10/1/10 8K re; completion of acquisition of Micrus Endovascular Corp.
9/16/10 re: retirement of Colleen Goggins, Worldwide Chair of Consumer Group
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: 10/6/10 & 9/20/10 2 8Ks re: buyback of 5.125% Cadbury Notes due '13
9/15/10 8K re: new global growth strategy
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: 10/21/10 8K re: 3Q earnings rise 12%
9/24/10 8K re: dividend increase of 11% to 0.61 per share
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
Merck MRK:10/14/10 8K re: status of Remicade & Simponi arbitration
9/7/10 8K re: arbitration re: Merck'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.
Microsoft MSFT: 10/22; 10/12; 10/14; 10/1 & 9/30/10 Proxy Statement materials re: Annual Shareholder Meeting to be held on 11/16/10 at 8am at Meydenbauer Center, Bellevue WA
9/27/10 8K re: sale of notes
9/13/10 8K re: resignation of Stephen Elop as Pres. of Microsoft Bus. Div. to become CEO of Nokia
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:10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's pruchase of King Pharmaceuticals, Inc.
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: 10/14/10 8K re: voting results from 10/12/10 Annual Shareholders Meeting
10/12/10 8K re: dividend of 0.4818 cents per share
10/12/10 8K re: CEO's address at Annual Shareholders Meeting
8/27/10 Proxy Stmt re: Annual Shareholder 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.
3M MMM:10/8/10 SC TO-T/A re: tender offer statement re: Cogent offer
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:10/21/10 8K & 10Q re: 3Q ended 9/30/10
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
United Technologies UTX:10/20/10 8K re: 3Q results
9/24/10 8K re: departure of certain officers
8/31/10 8K re: redemption of 6.35% Notes due '11
8/19/10 8K re: departure 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: 10/22/10 8K re: 3Q results
10/18/10 8K re: in'l info re: divestitures relating to 1/09 acquisition of Alltel Corp.
9/20/10 8K re: appointment of Verizon Wireless Pres/CEO Lowell C. McAdams as Pres/COO of Verizon Communications effective 10/1/10
9/13/10 8K re: retirement of John F. Killian as CFO
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:10/22/10 8K re: issuance of Notes due 2013
9/29/10 8K re: election of Charles Holley as CFO
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.
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. 707 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 10/24/10 and an update of the Dow 30 component's SEC filings as of 10/24/10.
The Dow Jones Industrial Average closed Friday at 11,118 up 4.54 or 0.04% from Thursday's close of 11,113.95. For the week the Dow was down 14.56 or 0.013% from last Friday's close of 11,132.56. For the month the Dow was down 3.06%. Of the 30 Dow Jones component companies 18 gained and 12 declined. The biggest gainer dollar-wise was IBM $143.6 +2.70 1.92% 8,444,096 and percentage-wise was Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE. The biggest decliner dollar-wise and percentage wise was Chevron CVX $82.6 -1.84 2.18% 12,462,965 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 13.97 down from Thursday's 14.07 (year ago it was 16.75) the P/E estimate is 13.25 unchanged from Thursday's P/E estimate of 13.25 (year ago it was 16.03) and the current dividend yield is 2.54 unchanged from yesterday's yield of 2.54 (it was 2.83 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 1,469.01 up 0.53 from Thursday's closing numerator of 1,468.48. 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 for today by the divisor (0.132129493) you get the increase in today's Dow. 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 $48.97 up 0.02 from Thursday's Dow Jones Industrial Average average closing price of $48.95. The median closing price of Thursday's Dow Jones Industrial Average was $41.75 (HPQ/AXP) downp 0.19 from Thursday's median price of $41.94. The lowest volume was United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE and the highest volume was again Bank of America BAC $11.449 -0.081 0.7% 126,825,092 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 $53 ($146,901 - $146,848).
MarketWatch Friday 10/29/10 4:58 pm by Donna Yesalavich says U.S. blue chip stocks edged up Friday while the Standard & Poor’s 500 index fell slightly in a quiet end to a strong October as investors bided their time before next week’s Federal Reserve meeting and midterm elections. The Dow Jones (DJIA 11,118, +4.54, +0.04%) closed up 4.54 points, or 0.04%, to 11118.49. Microsoft (MSFT 26.59, -0.08, -0.28%) was among the Dow’s best performers with a 1.5% rise. The software giant’s fiscal first-quarter profit climbed 51%, benefiting from a continued strong response to the Windows 7 operating system and Office 2010. Microsoft is also the Dow’s best performer this month, up 9.1% over the period.Read about Microsoft’s results. Chevron and Merck helped limit the Dow’s gain. Chevron (CVX 82.61, +0.01, +0.01%) fell 2.2% after the oil major’s third-quarter earnings and revenue missed analysts’ expectations. Merck (MRK 36.25, -0.06, -0.17%) dropped 1.7% as the company’s earnings excluding items topped Wall Street estimates, but revenue fell short of forecasts. Read more on Chevron. The technology-heavy Nasdaq Composite (COMP 2,507, +0.04, +0.00%) rose 0.04% to 2507.41. The Standard & Poor’s 500-stock index (SPX 1,183, -0.52, -0.04%) was nearly unchanged at 1,183.26. The health-care sector slumped as Merck weighed.Friday, which marks the 81st anniversary of the Crash of 1929 known as “Black Tuesday,” was the final trading day of what has been a strong October for stocks. The Dow climbed 3.06% during the month and the S&P 500 rose 3.69% for October, the Dow’s best October since 2006 and the S&P 500’s best October since 2003. Even without the glamour of an iPad or another novel technology hit among consumers in its product lineup. This month’s climb has come on growing expectations that next week the Federal Reserve will announce more stimulus and midterm elections will lead to a Republican takeover of the House. “We’ve got a huge week next week,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “Today’s market may just be the perfect reflection of that quandary -- how big a position do you want to take leading into that?” Data released Friday showed the economy expanded in the third quarter at a slightly faster pace compared to the previous quarter, but growth remains too weak to cut unemployment any time soon. Gross domestic product, the value of all goods and services produced, rose at an annual rate of 2.0% after climbing 1.7% in the second quarter. Economists had expected 2.1% growth. The data showed inflation remains very soft. The Fed’s preferred gauge, the price index for personal consumption expenditures excluding volatile food and energy items, rose an annualized 0.8% in the third quarter, below the second quarter’s 1% increase.
The GDP report “means we’re not growing fast enough to make a dent in the unemployment rate,” said Jeff Applegate, chief investment officer at Morgan Stanley Smith Barney. He said that only adds to the case for the Fed to unveil a quantitative easing program next week. Other economic figures released Friday were mixed. Consumer-sentiment data from Reuters/University of Michigan showed the consumer mood darkened at the end of October, while the Chicago Business Barometer, formerly known as Chicago PMI, edged up from September and topped expectations. Read more on consumer sentiment. The dollar weakened slightly, with the U.S. Dollar Index (DXY 77.04, -0.27, -0.35%) , which tracks the U.S. currency against a basket of six others, off 0.2%. Meanwhile, Treasurys edged higher, pushing the yield on the 10-year note (UST10Y 2.60, -0.06, -2.40%) down to 2.62%. Crude-oil futures fell while gold futures were flat. Among stocks in focus, Genworth Financial (GNW 11.37, +0.04, +0.35%) tumbled 9.9%. The life insurer’s operating earnings unexpectedly dropped as stronger international operations couldn’t offset weakness in life and mortgage insurance. S&P Equity Research cut its target price on Genworth’s shares following the report. Adding to the downward pressure on the insurer’s shares, hedge-fund manager Steve Eisman said on Genworth’s third-quarter conference call that the company isn’t meeting its cost of capital in any of its businesses. He suggested Genworth consider shutting down some businesses and use the money saved to buy back shares. Monster Worldwide (MWW 17.98, -0.08, -0.44%) shares soared 26%. The employment website operator struck an optimistic tone as it reported stronger-than-forecast bookings in its third quarter, leading the company to narrow its loss projection for the year. The third quarter was the first since early 2008 that Monster has seen revenue, bookings and deferred revenue all grow year-over-year.
Friday's Dow Closing Numbers:
AT&T T $28.52 +0.02 0.07% 21,182,642 NYSE
Alcoa AA $13.14 +0.49 3.87% 39,265,086 NYSE
Amex AXP $41.46+ 0.24 0.58% 9,598,191 NYSE
Bank of Am BAC $11.449 -0.081 0.7% 126,825,092 NYSE
Boeing BA $70.64 -0.63 0.88% 3,202,225 NYSE
Caterpillar CAT $78.6 +0.86 1.11% 4,563,895 NYSE
Chevron CVX $82.6 -1.84 2.18% 12,462,965 NYSE
CSCO $22.86 -0.33 1.42% 44,587,820 NASDAQ-GS
Coke KO $61.32 +0.11 0.18% 7,120,138 NYSE
Disney DIS $36.125 -0.385 1.05% 12,931,174 NYSE
DuPont DD $47.28 +0.25 0.53% 5,428,358 NYSE
Exxon XOM $66.49 +0.27 0.41% 19,270,797 NYSE
GE $16.02 -0.06 0.37% 38,174,397 NYSE
Hewlett-Packard HPQ $42.04 -0.62 1.45% 18,187,411 NYSE
Home Depot HD $30.9 -0.29 0.93% 9,505,251 NYSE
Intel INTC $20.05 -0.42 2.05% 60,774,304 NASDAQ-GS
IBM $143.6 +2.70 1.92% 8,444,096 NYSE
JPMorgan JPM $37.63 +0.12 0.32% 19,803,213 NYSE
JNJ $63.74 +0.18 0.28% 9,309,827 NYSE
KFT $32.27 +0.13 0.4% 6,614,660 NYSE
MCD $77.77 +0.29 0.37% 4,338,964 NYSE
MRK $36.31 -0.63 1.71% 15,230,540 NYSE
MSFT $26.665 +0.385 1.46% 114,193,191 NASDAQ-GS
Pfizer PFE $17.415 -0.155 0.88% 40,226,507 NYSE
Procter & GamblePG $63.57 +0.38 0.6% 11,372,240 NYSE
MMM $84.22 -0.85 1% 6,085,807 NYSE
Travelers TRV $55.2 +0.46 0.84% 3,680,633 NYSE
United Technologies UTX $74.77 +0.07 0.09% 2,650,141 NYSE
Verizon VZ $32.48 +0.07 0.22% 12,076,517 Dual Listed
WalMart WMT $54.17 +0.09 0.17% 8,033,129 NYSE
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The following are excerpts from Friday 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 11,113.95 down 12.33 or 0.11% from Wednesday's close of 11,126.28. For the year the Dow is up 6.58%. Of the 30 Dow Jones component companies 19 gained, McDonald's was unchanged and 10 declined. The biggest gainer dollar-wise and percentage-wise was Disney DIS $36.51 +0.59 1.64% 14,205,936 NYSE. The biggest decliner dollar-wise and percentage wise was 3M MMM $85.07 -5.30 5.86% 16,203,456 NYSE.
WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
Fin Times p22 "Industrial stocks lead the fallers as 3M shaves forecast" by Hannah Kuchler says the industrial sector retreated after 3M said its recent acquisition spree would reduce earnings this year, in an otherwise choppy trading day.
NYT pB9 "Soft earnings reports produce mixed results" by AP says stocks struggled to a mixed finish on Thurs afte weak earnings news from 3M & other firms wweighed on the market.
USA Today p4B "Markets relatively flat amid mixed news" by AP says major stock indexes closed almost where they started Thurs as investors dug through a raft of earnings reports that painted a mixed picture about the economy.
Thursday's Dow Jones Industrial Average closing numerator was 1,468.48 down 1.63 from Wednesday's closing numerator of 1,470.11. 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 for today by the divisor (0.132129493) you get the decrease in today's Dow. 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 Thursday's Dow Jones Industrial Average was $48.95 down up 0.05 from Wednesday's Dow Jones Industrial Average average closing price of $49.00. The median closing price of Thursday's Dow Jones Industrial Average was $41.94 (HPQ/AXP) up 0.40 from Wednesday's median price of $41.54. The lowest volume was United Technologies UTX $74.7 +0.24 0.32% 3,140,980 NYSE and the highest volume was again Bank of America BAC $11.53 -0.01 0.09% 178,381,491 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 $152 ($147,000 - $146,848).
MarketWatch 10/28/10 4:25 pm by Steve Russolillo says Blue-chip stocks closed slightly lower Thursday despite a large drop in weekly jobless claims as investors grew more hesitant ahead of the Federal Reserve's meeting next week. The Dow Jones Industrial Average closed down 12.33 points, or 0.11%, to 11113.95, its second straight day of declines. 3M was the blue-chip index's worst performer, sliding 5.85, or 6.5%, to 84.52 after the consumer and industrial manufacturer narrowed its 2010 profit target. Also weighing on the Dow were Caterpillar, which fell 48 cents, or 0.6%, to 77.74 and Cisco Systems, which finished down 10 cents, or 0.4%, to 23.19. Meanwhile, Exxon Mobil gained 55 cents, or 0.8%, to 66.22, after its third-quarter earnings rose a bigger-than-expected 55%. The oil giant benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural-gas producer XTO Energy. "There's an old statement that 'all great climbers must rest,'" said Todd Morgan, senior managing director at Bel Air Investment Advisors. "This market needs to digest the terrific rise it's had over the last month and a half. This is healthy. Nothing goes straight up forever." The Dow's losses followed Wednesday's 43-point drop. Stocks have surged over the last few months, but investors are starting to fret over the scope and potential for another round of quantitative easing by the Federal Reserve. The central bank is expected to announce another round of bond buying at its meeting next week. "It feels like the market's struggling to maintain its momentum," said Bruce McCain, chief investment strategist at Key Private Bank. He added investors appear to be re-evaluating the impact another round of quantitative easing, known as QE2, will have on the overall economy. "[Investors] have been inclined to look at the positive side of QE2, but with businesses unwilling to borrow and other problems in the system that have led to lower lending, the Fed may be largely pushing on a string." The Standard & Poor's 500-stock index edged up 1.29 points, or 0.11%, to 1183.74, as the health-care and consumer-discretionary sectors led the gains. The broad index has posted gains in six of the last seven sessions. The technology-oriented Nasdaq Composite gained 4.11 points, or 0.16%, to 2507.37, and has risen in 14 of the last 16 sessions. Thursday's mixed results among the benchmark indexes occurred despite a better-than-expected reading on the labor market. Initial unemployment claims declined by 21,000, to 434,000, in the week ended Saturday, the Labor Department said. That brings claims down to levels last seen since the week ended July 10. Economists surveyed by Dow Jones Newswires had expected claims would rise by 3,000. Additionally, manufacturing activity in the Federal Reserve Bank of Kansas City's district continued to expand in October but at a slower rate than in September, according to a report released by the bank Thursday. The Kansas City Fed's manufacturing-production index, in a month-over-month comparison, slowed to 10 this month from 14 in September but was up from zero in August. Readings above zero denote expansion. Among companies that reported earnings, Dow Chemical fell 35 cents, or 1.1%, to 30.86, after the chemicals company reported a 25% drop in third-quarter profit because of the impact from divestitures. Eastman Kodak's third-quarter loss narrowed on fewer charges and much higher margins. The camera maker's results topped Wall Street's expectations. Shares surged 61 cents, or 15%, to 4.58. Las Vegas Sands swung to a third-quarter profit. The company posted record revenue resulting from strong growth at its casinos in the China gambling enclave of Macau and the first full quarter of operations at its Singapore casino. Shares jumped 3.57, or 8.7%, to 44.63. Motorola's third-quarter profit soared as the speedy release of new smartphones using Google's Android software propelled the mobile-devices unit to its first operating profit in more than three years. Shares rose four cents, or 0.5%, to 8.13. In the currency markets, the dollar weakened against both the euro and the yen. The euro traded recently at $1.3927, up from $1.3768 late Wednesday in New York. The U.S. Dollar Index, which tracks the currency against a basket of six others, fell 1.1%. Demand for Treasurys rose, pushing the yield on the 10-year note down to 2.67%. Comex gold for November delivery gained 1.5% to settle at $1,342.10 per troy ounce and crude-oil prices edged up 24 cents, or 0.3%, to $82.18 a barrel.
Thursday's Dow Closing Numbers & Today's News:
AT&T T $28.5 +0.15 0.53% 21,708,552 NYSE: WSJ pC10 "Motorola's Smartphone challenge" by Rolfe Winkler says differentiating Google's Android phones against the iPHone is hard. Motorola's Droids cost Verizon about two thirds what AT&T pays for the iPhone. Verizon has been Motorola's most important partner, driving 60% of Motorola's smartphone sales last quarter.
Alcoa AA $12.65 -0.05 0.39% 16,054,386 NYSE: No mentions found.
Amex AXP $41.22 +0.54 1.33% 14,732,104 NYSE: No mentions found.
Bank of Am BAC $11.53 -0.01 0.09% 178,381,491 NYSE: No mentions found.
Boeing BA $71.27 +0.41 0.58% 4,026,024 NYSE: WSJ pB8 "Boeing's 737 gets new look" by Peer Sandes says Boeing delivered on Wed the first of ts best selling 737s outfitted with a glitzy new interior as it ponders the future of this jet. It hopes the Sky inerior which is slated to be installed on 1,200 of the ore than 2,000 737s on order, combined with a number of small design changes to improve fuel efficiency will keep the plane selling.
Caterpillar CAT $77.74 -0.48 0.61% 7,055,215 NYSE: WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
Chevron CVX $84.44 +0.13 0.15% 8,498,469 NYSE: No mentions found.
CSCO $23.19 -0.10 0.43% 33,549,805 NASDAQ-GS: WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
Coke KO $61.21 +0.02 0.03% 8,266,796 NYSE: AJC pA21 "coca-Cola bottler reports increases" by Jeremiah McWilliams says CCE had increased in 3Q sales and profits, marking a solid start to its new identiy as a Europe focused firm as rev from europe rose 4.5%. Profits were $208 mil or 61 cents & do not include N Amer. results.
Disney DIS $36.51 +0.59 1.64% 14,205,936 NYSE: No mentions found.
DuPont DD $47.03 +0.07 0.15% 6,298,872 NYSE: No mentions found.
Exxon XOM $66.22 +0.55 0.84% 20,293,653 NYSE: WSJ pB4 "Shell, Exxon dodge weak prices for gas" by Guy Chazan, Fin times p13 "Oil price rise & better margins fuel Exxon & Shell earnings" by Sylvia Pfeifer, NYT pB3 "Exxon profit soars 55% as oil prices rebound" by Cliff Krauss say Exxon and Royal Dutch Shell reported big increases in 3Q earnings benefiting from higher oil prices & shrugging of low prices for US natural gas. Exxon had profits of $7.35 bil or $1.44 a share, up from $4.73 bil or 98 cents a share a year earlier. Rev rose 16% to $95.3 bi.
WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy.
GE $16.08 -0.03 0.19% 44,220,563 NYSE: WSJ pB1 "India deal puts China in GE's league" by James Areddy says China signed a $10 global power equipment dealto provide power to Indian Reliance ADA Group which now has China threatening established suppliers of tech such as GE, Siemens and Alstom.
Hewlett-Packard HPQ $42.66 +0.27 0.64% 15,139,122 NYSE: No mentions found.
Home Depot HD $31.19 +0.29 0.94% 7,902,704 NYSE: No mentions found.
Intel INTC $20.47 +0.28 1.39% 71,025,600 NASDAQ-GS: No mentions found.
IBM $140.9 -0.53 0.37% 5,481,544 NYSE: WSJ pB1 "Microsoft net leaps on core products" by Nick Wingfield say Microsoft posted a 51% profit jump as its core products, Windows & Office, continued to thrive, even as big investments in new consumer products have been slow to pay off. Apple earlier this year passed Microsoft to become the most valuable tech firm, with a $280 bil market cap to MSFT's $227 bil. Rev for MSFT was $16.2 bil up 25% from a year earlier. Businesss oriented firms such as IBM have also reported strong growth.
JPMorgan JPM $37.51 -0.03 0.08% 30,526,390 NYSE: WSJ pC10 "Hedge funds are starting a long awaited merger feast" by Hester Plumridge says JPMorgan's hedge fund, Highbridge, bought part of Brazil's Gavea Inestimentos in Oct.
JNJ $63.56 -0.01 0.02% 10,109,548 NYSE: WSJ pB1 "Strides against Hepatitis C open door to blockbusters" by Jonathan Rockoff says drug makers Merck, Johnson & Johnson & Bristol-Myers have been racing to come up with new treatments for Hepatitis C. Leading the way is telaprevir from J&J partnership with Vertex Pharmaceuticals & boceprevir from Merck.
KFT $32.14 +0.14 0.44% 7,089,088 NYSE: No mentions found.
MCD $77.48 unch unch 5,332,455 NYSE: Daily Report p6 "McDonald's case can't proceed as a group suit" by Andrew M. Harris, Bloomberg says a Manhattan ed judge said that a lawsuit filed in '02 claiming Mcdonald's deceptively marketed to cause obesity cannot proceed as a class action.
MRK $36.94 +0.48 1.32% 9,834,971 NYSE: WSJ pB1 "Strides against Hepatitis C open door to blockbusters" by Jonathan Rockoff says drug makers Merck, Johnson & Johnson & Bristol-Myers have been racing to come up with new treatments for Hepatitis C. Leading the way is telaprevir from J&J partnership with Vertex Pharmaceuticals & boceprevir from Merck.
MSFT $26.28 +0.23 0.88% 78,251,439 NASDAQ-GS: WSJ pB1 "Microsoft net leaps on core products" by Nick Wingfield, NYT pB3 "Sales of video games & PC software lift Microsoft" by Steve Lohr, USA Today p1B "Microsoft's quarterly profit 52% higher than last year" by Byron Acohido say Microsoft posted a 51% profit jump as its core products, Windows & Office, continued to thrive, even as big investments in new consumer products have been slow to pay off. Apple earlier this year passed Microsoft to become the most valuable tech firm, with a $280 bil market cap to MSFT's $227 bil. Rev for MSFT was $16.2 bil up 25% from a year earlier. Income for the quarter was $.41 bil or 62 cents a share up from $3.57 bil or 40 cents a share a year earlier. Businesss oriented firms such as IBM have also reported strong growth.
Pfizer PFE $17.57 +0.29 1.68% 33,762,215 NYSE: No mentions found.
Procter & Gamble PG $63.19 +0.11 0.17% 9,192,969 NYSE: No mentions found.
3M MMM $85.07 -5.30 5.86% 16,203,456 NYSE: WSJ pB4 "Sales in emerging markets boost 3M" by James Hagerty, NYT pB6 "3M reports higher profit & sales, but lowers its forecast" by Reuters say 3M reported a 16% increase in 3Q earnings as surging sales in developing nations made up for slow growthin Europe & the US. Shares slipped as it cut its forecast of sales growth to 11% well below the 17% sales growth in the first 9 months. Earnings icnreased to $1.11 bil or $1.53 a share from $957 mil or $1.35 a share, a eyar earlier. Rev jumped 11% to $6.87 bil.
WSJ pC5 "Dow feels 3M pressure" by Steve Russolillo says blue chip stocks closed slightly lower despite a drop in weekly jobless claims as investors awaited the Fed Res' meeting next week. 3M was the Dow's worst performer sliding 6.5% after it narrowed its '10 profit target. Also weighing on the Dow were Caterpillar which fell 48 cents and Cisco down 10 cents. Exxon gained 55 cents after its 3Q earnings rose a bigger than expected 55%. It benefited from stronger commodities prices and refining margins in the first full quarter that included its June acquisition of natural gas producer XTO Energy. 3M is charted under Bad News.
Travelers TRV $54.74 +0.01 0.02% 3,610,280 NYSE: No mentions found.
United Technologies UTX $74.7 +0.24 0.32% 3,140,980 NYSE: No mentions found.
Verizon VZ $32.41 -0.10 0.31% 15,361,993 Dual Listed: WSJ pB7 "Verison Wireless settles with FCC" by Shayndi Raices says Verizon settled a case with the FCC involving their charging "mystery fees" by pahying $25 mil to the US & refunding $2.8 mil.
WSJ pC10 "Motorola's Smartphone challenge" by Rolfe Winkler says differentiating Google's Android phones against the iPHone is hard. Motorola's Droids cost Verizon about two thirds what AT&T pays for the iPhone. Verizon has been Motorola's most important partner, driving 60% of Motorola's smartphone sales last quarter.
WMT $54.08 +0.21 0.39% 8,178,076 NYSE: WSJ pB3 "Walmart reassesses Massmart offer" by Robb Stewart, Fin times p15 "Walmart rethinks Africa move" by Simon Mundy say that instead of seeking a full takeover of Massmart it make only take control to preserve the S. African's Johannesburg listing.
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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 Leo Apotheker (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 10/24/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $338 [5]
2. Microsoft MSFT 219.5 [9]
3. WalMart WMT 196.5 [3.5]
4. Procter & Gamble PG 180 [3]
5. IBM 176 [1]
6. Johnson & Johnson JNJ 176 [3]
7. GE 171.5 [10.5]
8. Chevron CVX 170 [2]
9. AT&T T 167 [6]
10. JPMorgan Chase JPM 149 [4]
11. Coke KO 142 [2.5]
12. Pfizer PFE 140 [8]
13. Cisco CSCO 134 [6]
14. Bank of America BAC 115 [10]
15. Merck MRK 114 [3]
16. Intel INTC 110.5 [5.5]
17. Hewlett-Packard HPQ 97 [2.5]
18. Verizon VZ 95 [3]
19. McDonald's MCD 83.5 [1]
20. United Technologies UTX 69.5 [1]
21. Disney DIS 67 [2]
22. 3M MMM 64.5 [.5]
23. Kraft KFT 55.5 [2]
24. Home Depot 52.5 [1.5]
25. Boeing BA 52 [1]
26. Caterpillar CAT 49 [.5]
27. American Express AXP 47 [1]
28. DuPont DD 42.5 [1]
29. Travelers 26 [.5]
30. Alcoa AA 13 [1]
Here are the latest SEC filings as of 10/24/10 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: 10/21/10 & 10/10/10 2 8K's re: 3Q earnings of $2.08 per share
10/1/10 8K re: settlement with IRS to pay $300 mil re: '08 tax returns
9/3/10 8K re: increasing Board from 12 to 13 & election of Matthew K. Rose as director
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
Alcoa AA: 10/22/10 10Q for 3Q ended 9/30/10
10/12 8K re: transcript of 3Q earnings conference
10/8/10 8K re: 3Q results
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
American Express AXP: 10/21/10 8K re: 3Q results
10/15/10 8K re: delinquency & write-off statistics
10/4/10 8K re: antitrust lawsuit filed by US Dept. of Justice accusing Amex of forcing merchants not to use competitors' services
9/15/10 8K re: delinquency & write-off stats
9/15/10 8K re: changes to certain credit cards
8/16/10 2 8Ks re: delinquency and write-off statistics
Bank of Am BAC: 10/20/108K re: registration of 50,354,545 shares
10/19/10 8K re: 3Q results
10/8/10 8K re: extension of BofA's review of foreclosures in all 50 states
8/6/10 10Q 2Q 6/30/10
8/3/10 8K re: by-law amendments
Boeing BA: 10/10/10 10Q re: 3Q ended 9/30/10
10/10/10 8K re: 3Q results of $1.12 per share
8/27/10 8K re: delay of delivery of first 787 to mid 1Q '11 due to Rolls Royce Engine supply problems
Caterpiller CAT: 10/21/10 8K re: Sept. dealer stats
10/21/10 8K re: 3Q results
9/30/10 8K re: change of prices
9/21/10 8K re: credit facility
9/17/10 8K re: dealer stats
Chevron CVX: 10/12/10 *K re: 3Q fin'l update
9/30/10 8K re: bylaws amendments
8/5/10 10Q 2Q 6/30/10
7/30/10 8K re: 2Q results
Cisco CSCO 9/28/10 Def. Proxy materials
9/22/10 8K re: stock trading plans for directors
9/21/10 10K for year ended 7/31/10
9/16/10 8K re: award of employee stock options
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
Coke KO 10/19/10 8K re: 3Q fin'l results
10/5/10 8K re: completion of buyout of Coca-Cola Enterprises
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: 10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm
10/3/10 8K re: 3Q earnings'9/28/10 8K re: NBC Universal offer to sell notes in a private placement
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
Hewlett-Packard HPQ: 10/18/10 8K re: election of Leo Aptheker as Pres/CEO
9/28/10 8K re: outlook for fiscal year '11
9/20/10 8K re: resolving litigation against ex-CEO mark Hurd
9/13/10 8K re: sale of Global Notes
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
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
Intel INTC: 10/13/10 & 10/12/10 2 8Ks re: results for 3Q ended 9/25/10
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.
IBM:10/19/10 & 10/18/10 2 8Ks re: results for 3Q ended 9/30/10
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
JPMorganChase JPM: 10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results
10/13/10 8K re: 3Q results of $1.01 per share
9/15/10 8K re: presentation to a US fin'l services investor conference
8/6/10 10Q 2Q 6/30/10
Johnson & Johnson JNJ : 10/19/10 8K re: results for 3Q ended 10/3/10
10/6/10 SC TO-C re: tender offer to buy Crucell N.V.
10/1/10 8K re; completion of acquisition of Micrus Endovascular Corp.
9/16/10 re: retirement of Colleen Goggins, Worldwide Chair of Consumer Group
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: 10/6/10 & 9/20/10 2 8Ks re: buyback of 5.125% Cadbury Notes due '13
9/15/10 8K re: new global growth strategy
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: 10/21/10 8K re: 3Q earnings rise 12%
9/24/10 8K re: dividend increase of 11% to 0.61 per share
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
Merck MRK:10/14/10 8K re: status of Remicade & Simponi arbitration
9/7/10 8K re: arbitration re: Merck'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.
Microsoft MSFT: 10/22; 10/12; 10/14; 10/1 & 9/30/10 Proxy Statement materials re: Annual Shareholder Meeting to be held on 11/16/10 at 8am at Meydenbauer Center, Bellevue WA
9/27/10 8K re: sale of notes
9/13/10 8K re: resignation of Stephen Elop as Pres. of Microsoft Bus. Div. to become CEO of Nokia
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:10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's pruchase of King Pharmaceuticals, Inc.
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: 10/14/10 8K re: voting results from 10/12/10 Annual Shareholders Meeting
10/12/10 8K re: dividend of 0.4818 cents per share
10/12/10 8K re: CEO's address at Annual Shareholders Meeting
8/27/10 Proxy Stmt re: Annual Shareholder 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.
3M MMM:10/8/10 SC TO-T/A re: tender offer statement re: Cogent offer
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:10/21/10 8K & 10Q re: 3Q ended 9/30/10
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
United Technologies UTX:10/20/10 8K re: 3Q results
9/24/10 8K re: departure of certain officers
8/31/10 8K re: redemption of 6.35% Notes due '11
8/19/10 8K re: departure 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: 10/22/10 8K re: 3Q results
10/18/10 8K re: in'l info re: divestitures relating to 1/09 acquisition of Alltel Corp.
9/20/10 8K re: appointment of Verizon Wireless Pres/CEO Lowell C. McAdams as Pres/COO of Verizon Communications effective 10/1/10
9/13/10 8K re: retirement of John F. Killian as CFO
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:10/22/10 8K re: issuance of Notes due 2013
9/29/10 8K re: election of Charles Holley as CFO
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.
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