Friday, November 12, 2010

11/11/10 Thurs pm Dow Closes 11,283.1 Down 73.94 or 0.65%

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Post No. 727 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.

Your Blogger is reporting from Stockholm, this is an abbreviated report due to lack of available English print media.

The Dow Jones Industrial Average closed Thursday at 11,283.1 down $73.94 or 0.65% from Wednesday's close of 11,357.04. Of the 30 Dow Jones component companies 9 gained DuPont was unchanged and 20 declined. The biggest gainer dollar-wise and percentage-wise was Chevron CVX $86.09 +0.92 1.08% 11,297,497 NYSE. The biggest decliner dollar-wise was Boeing BA $65.37 -1.70 2.53% 10,033,682 NYSE and percentage wise was Disney DIS $35.9275 -1.0625 2.87% 37,817,522 NYSE.

As of the open of the market Thurs, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal (US edition) is 0.132129493. 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.

Thursday's Dow Jones Industrial Average closing numerator was 1,490.83 down 9.77 from Wednesday's closing numerator of 1,500.60. 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 $49.69 down 0.33 from Wednesday's Dow Jones Industrial Average average closing price of $50.02. The median closing price of Thursday's Dow Jones Industrial Average was $41.56 (HPQ/JPM) down 0.83 from Tuesday's median price of $42.39. The lowest volume was United Technologies UTX $75.39 -0.76 1% 3,506,004 NYSE and the highest volume was again Bank of America BAC $12.37 -0.20 1.59% 130,701,509 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 $977 ($150,060 - $149,083.)

MarketWatch Thursday 11/12/10 4:37 pm by Kate Gibson says U.S stocks on Thursday fell for a third session this week as a disappointing forecast from Cisco Systems Inc. weighed on the technology sector and as global leaders tried to agree on a plan to keep the recovery on track. “We’re waiting for a kicker where the better economic news causes consumer and business confidence to move up,” said David Kelly, chief market strategist at J.P. Morgan Funds. After dropping more than a 100 points at the start, the Dow Jones Industrial Average (DJIA 11,283, -73.94, -0.65%) finished off 73.94 points, or 0.7%, at 11,283.10, with 20 of its 30 components in the red, including discount retailer Wal-Mart Stores Inc. (WMT 54.34, -0.17, -0.31%) , which said it would offer free shipping on almost 60,000 online products. The stock market’s decline, which has the major indexes down about 1% for the week so far, could largely be “a reaction to a few weeks of the market going up,” said Kelly of recent gains that had the Dow up four of the past five weeks, and as of last Friday up roughly 15% over the prior 52 weeks. Shares of tech giant and Dow component Cisco (CSCO 20.52, -3.97, -16.21%) tumbled more than 16%, their worst one-day performance in 16 years. Deutsche Bank CEO and Chairman Josef Ackermann says that he doesn't see efforts from country leaders to actively lower their currencies and that currency fluctuations are the side effects of national economic policies. Cisco said late Wednesday its quarterly growth would miss Wall Street’s expectations, with the outlook battering the tech sector, which has led the market’s climb since the end of August. The S&P 500 Index declined (SPX 1,214, -5.17, -0.42%) 5.17 points, or 0.4%, to 1,213.54, with technology the most battered of its 10 industry sectors and natural-resource companies and energy companies faring the best. The Nasdaq Composite Index (COMP 2,556, -23.26, -0.90%) fell 23.26 points, or 0.9%, to 2,555.52. For every stock that gained, nearly two fell on the New York Stock Exchange, where 952 million shares traded. Volume was expected to be light, given the Veterans Day holiday that has government offices as well as the bond market closed. Commodities rose, bolstered by a hike in China’s credit rating, with gold futures trading above $1,400 an ounce and crude-oil futures rising to just below $88 a barrel on the New York Mercantile Exchange. U.S. credit ratings agency Moody’s raised China’s rating just ahead of the economic summit underway in South Korea, with the Group of 20 attempting to create a strategy to back a global recovery that has sped up in countries like China as more developed countries such as the United States struggled. “Unfortunately, the reasons are exactly the opposite of those provided by the Chinese rating agency in downgrading U.S. debt two days ago,” wrote TJ Marta, chief market strategist at TJ Marta. China and other countries have spoken against the Federal Reserve’s latest bond-purchasing plan, announced last week, which effectively reduces the value of the U.S. dollar.

Thursday's Closing Dow Numbers:


AT&TT $28.83 -0.22 0.76% 21,398,575 NYSE
Alcoa AA $13.81 -0.07 0.5% 21,881,131 NYSE
Amex AXP $43.35 -0.21 0.48% 5,849,606 NYSE
Bank of Am BAC $12.37 -0.20 1.59% 130,701,509 NYSE
Boeing BA $65.37 -1.70 2.53% 10,033,682 NYSE
Caterpillar CAT $82.44 -0.02 0.02% 5,006,372 NYSE
Chevron CVX $86.09 +0.92 1.08% 11,297,497 NYSE
CSCO $20.52 -3.97 16.21% 553,078,278 NASDAQ-GS
Coke KO $62.8 +0.25 0.4% 8,126,287 NYSE
Disney DIS $35.9275 -1.0625 2.87% 37,817,522 NYSE
DuPont DD $47.19 unch unch 6,626,190 NYSE
Exxon XOM $71.83 +0.70 0.98% 23,791,115 NYSE
GE $16.35 -0.20 1.21% 46,624,537 NYSE
HP HPQ $43.1 -1.06 2.4% 24,430,616 NYSE
Home Depo HD $31.7 +0.02 0.06% 9,225,494 NYSE
INTC $21.21 +0.17 0.81% 69,682,741 NASDAQ-GS
IBM $145.43 -1.12 0.76% 4,752,261 NYSE
JPMorgan JPM $40.02 -0.60 1.48% 25,506,905 NYSE
JNJ $63.92 -0.03 0.05% 9,108,305 NYSE
KFT $30.46 -0.04 0.13% 8,091,044 NYSE
MCD $79.7 +0.20 0.25% 4,437,633 NYSE
MRK $35.21 +0.25 0.72% 14,114,968 NYSE
MSFT $26.68 -0.26 0.97% 62,071,910 NASDAQ-GS
Pfizer PFE $16.98 +0.151 0.9% 44,250,085 NYSE
Procter & Gam PG $64.36 -0.21 0.33% 7,002,181 NYSE
MMM $86.5 +0.25 0.29% 5,850,257 NYSE
TRV $56.41 -0.35 0.62% 4,581,731 NYSE
United Technologies UTX $75.39 -0.76 1% 3,506,004 NYSE
Verizon VZ $32.63 -0.22 0.67% 12,794,941 DualListed
WMT $54.34 -0.17 0.31% 12,565,714 NYSE



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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Cyhicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ 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.