11/2/10 Wed. am Pfizer's Rev Up 39% but Profits down 70% due to Wyeth Purchase

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Post No. 714 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 Wednesday's Wall St. Journal, Financial Times, New York Times, Investors' Business Daily, 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 Tuesday's stock prices and related data.

Dow:The Dow Jones Industrial Average closed Tuesday at 11,188.72 up 64.1 or 0.58% from Monday's close of 11,124.62. For the year the Dow is up 7.29%. Of the 30 Dow Jones component companies 23 gained 7 and declined. The biggest gainer dollar-wise was Exxon XOM $67.84 +0.89 1.33% 26,023,811 NYSE and percentage-wise was Home Depot HD $31.51 +0.80 2.61% 15,037,186 NYSE. The biggest decliner dollar-wise was Boeing BA $69.78 -0.70 0.99% 6,304,481 NYSE and percentage wise was JPMorgan JPM $36.96 -0.46 1.23% 39,724,954 NYSE.

WSJ pC5 "Vote cast for stocks: Dow up 64.10" by Donna Yesalavich says stocks climbed broadly on Tues as investors awaited ther esults of US midterm elections seen ushering in more Republicans & a 2 day Fed Res meeting expected to yield more economic stimulus. All but a handful of the Dow's 30 components were positive led by a rise of 80 cents in Home Depot. Among the Dow's other gainers, American Express rose 83 cents while Verizon was up 40 cents.

NYT pB8 "markets end higher on ve of Fed decision" by Christine Hauser says stocks ended higher Teus as voters went to the polls for midterm elections & policy makers from the Fed Res met to decide whether they would start a new round of purchases of Treasury securities to help stimulate the economy.

Inv. Bus. Daily pA1 "Stocks rally ahead of election results, fed decision" by Vincent Mao says a lower dollar helped drive stocks higher Tues, breaking a streak of uninspiring closes. Stocks also perked up ahead of election results and the Fed Res' next policy statement. Current outlook is the market is in a confirmed uptrend.

Fin Times p26 "MasterCrd profits & tech merges inspire solid gains" by Hannah Kuchler says MasterCard earnings & tech deals helped buoy US equities as investors awaied ther esults of the midterm elections & the Fed Res meeting

USA Today p4B "Stocks climb on Fed, election forecasts" by Bloomberg says stocks rallied Tues as investors awaited the Fed Res' plans to bolster the recovery & an election outcome that may hand Democrats their biggest defeat in 7 decades.

As of the open of the market Wednesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493, the trailing P/E ratio is 14.25 up from Tuesday's 14.16 (year ago it was 16.84) the P/E estimate is 13.15 unchanged from Tuesday's P/E estimate of 13.15 (year ago it was 15.68) and the current dividend yield is 2.53 down from Tuesday's yield of 2.54 (it was 2.86 a year ago). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Tuesday's Dow Jones Industrial Average closing numerator was 1,478.36 up 8.47 from Monday's closing numerator of 1,469.89. 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 Tuesday's Dow Jones Industrial Average was $49.28 up 0.28 from Monday's Dow Jones Industrial Average average closing price of $49.00. The median closing price of Tuesday's Dow Jones Industrial Average was $42.65 (HPQ/AXP) up 0.70 from Monday's median price of $41.95. The lowest volume was United Technologies UTX $75.25 +0.61 0.82% 2,776,360 NYSE and the highest volume was again Bank of America BAC $11.4 -0.10 0.87% 175,421,287 NYSE.

If Tuesday 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 $847 ($147,836 - $146,989 - $).

MarketWatch Tuesday 11/2/10 5:09 pm by Kate Gibson says U.S stocks rose on Tuesday, as investors waited for results of midterm elections expected to yield Republican gains in Congress and for the Federal Reserve to deliver more easing measures at the end of its two-day meeting. “We should have a clearer picture tomorrow morning of the political leadership of the House and the Senate, thus allowing those bodies to consider tax reform and a couple of other important issues during its lame- duck session and ahead of year-end,” wrote Fred Dickson, chief investment strategist at Davidson Cos. The Dow Jones Industrial Average (DJIA 11,189, +64.10, +0.58%) rose 64.10 points, or 0.6%, to end at 11,188.72. Twenty-three of the Dow’s 30 components pulled higher, with the gains led by home-improvement retailer Home Depot Inc. (HD 31.51, +0.80, +2.61%), shares of which were up 2.6%. The S&P 500 Index (SPX 1,194, +9.19, +0.78%) gained 9.19 points, or 0.8%, to end at 1,193.57, with utilities and energy the best performers among its 10 industry groups. On the New York Mercantile Exchange, crude futures gained $1.15 to end at $83.90 barrel, the highest settlement in nearly six months, with the dollar-denominated commodity rising as the greenback weakened. The dollar index (DXY 76.68, -0.62, -0.80%) tumbled about 0.7% to 76.723. The Nasdaq Composite Index (COMP 2,534, +28.68, +1.15%) rose 28.68 points, or 1.1%, to end at 2,533.52. How the Fed Could Disappoint MarketsA quantitative-easing program that's too small, say under $300 billion, or not open-ended is unlikely to inspire investors, according to Pimco's Tony Crescenzi, who says the Fed also has to avoid stoking inflation expectations. Stocks largely have tread water in recent days amid uncertainty over the outcome of midterm elections, and over the scope of a second round of quantitative easing expected to be announced Wednesday by the Fed. Most analysts expect the GOP to take control of the U.S. House of Representatives and Democrats to retain control of the Senate, although without the supermajority needed to bypass filibusters. The Fed on Wednesday is expected to announce another round of large-scale bond purchases to push down interest rates and spur borrowing and spending. The idea of higher inflation down the road has been a weight on the dollar for multiple months. Wall Street is looking for a program of roughly $100 billion in monthly purchases to be conducted over the course of at least six months. “It’s hard to know what could upset the apple cart this week — the Senate being close is one thing and the other is the magnitude of quantitative easing,” said Art Hogan, chief market strategist at Jefferies & Co. Tuesday also brought revived M&A activity in technology, with Oracle Corp. (ORCL 29.57, +0.04, +0.13%) saying it would pay $1 billion to acquire Art Technology Group Inc. (ARTG 5.96, +0.01, +0.17%) , which makes software used in online transactions. The ongoing M&A trend among tech companies makes sense, given “as a sector, tech has more cash on the balance sheet than any other,” added Hogan.
In a similar vein, Dell Inc. (DELL 14.37, +0.01, +0.04%) said it would acquire cloud-computing services company Boomi, although the personal-computer maker did not disclose terms of the deal. For every stock falling, nearly three gained on the New York Stock Exchange, where 914 million shares traded.

Tuesday's Dow Closing Numbers & Wed's News:

AT&T T $28.94 +0.22 0.77% 18,507,115 NYSE: WSJ pB3 "Oracle hits SAP as softwre trial opens" by Jeanette Borzo says Oracle's lawyers painted SAP as a scheming rival that took Oracle's IP as a copyright infringement trial started on Tues. Separately, Oracle said it will buy software firm Art Technology Group for $1 bil to expand into online and mobile e-commerce, ramping up competition with SAP & IBM. Art Tech helps firms sell products online and has AT&T an Best Buy as customers. Oracle has said it will call Leo Apetheker, former SAP exec & now Hewlett-Packard's CEO to testify. Apotheker succeeeded Mark Hurd at HP who was then hired by Oracle.

Alcoa AA $13.24 +0.19 1.46% 17,617,301 NYSE: No mentions found.

Amex AXP $42.39 +0.83 2% 9,124,519 NYSE: WSJ pC5 "Vote cast for stocks: Dow up 64.10" by Donna Yesalavich says stocks climbed broadly on Tues as investors awaited ther esults of US midterm elections seen ushering in more Republicans & a 2 day Fed Res meeting expected to yield more economic stimulus. All but a handful of the Dow's 30 components were positive led by a rise of 80 cents in Home Depot. Among the Dow's other gainers, American Express rose 83 cents while Verizon was up 40 cents.

Bank of Am BAC $11.4 -0.10 0.87% 175,421,287 NYSE: No mentions found.

Boeing BA $69.78 -0.70 0.99% 6,304,481 NYSE: WSJ pB3 "Boeing sees China becoming world's No. 2 jet market" by Norihiko Shirouzu says China will require 4,330 new comm'l planes worth $480 bil over the next 20 years per Boeing's projections.

Caterpillar CAT $79.75 +0.48 0.61% 4,910,444 NYSE: No mentions found.

Chevron CVX $82.15 +0.70 0.86% 9,471,284 NYSE: No mentions found.

CSCO $23.17 +0.25 1.09% 37,237,360 NASDAQ-GS: No mentions found.

Coke KO $61.86 +0.15 0.24% 6,538,639 NYSE: No mentions found.

DIS $36.11 +0.08 0.22% 16,301,258 NYSE: No mentions found.

DuPont DD $47.42 +0.52 1.11% 5,823,004 NYSE: No mentions found.

Exxon XOM $67.84 +0.89 1.33% 26,023,811 NYSE: No mentions found.

GE $15.94 -0.01 0.06% 50,218,878 NYSE: No mentions found.

Hewlett-Pac HPQ $42.91 +0.42 0.99% 11,486,547 NYSE: WSJ pB3 "Oracle hits SAP as softwre trial opens" by Jeanette Borzo says Oracle's lawyers painted SAP as a scheming rival that took Oracle's IP as a copyright infringement trial started on Tues. Separately, Oracle said it will buy software firm Art Technology Group for $1 bil to expand into online and mobile e-commerce, ramping up competition with SAP & IBM. Art Tech helps firms sell products online and has AT&T an Best Buy as customers. Oracle has said it will call Leo Apetheker, former SAP exec & now Hewlett-Packard's CEO to testify. Apotheker succeeded Mark Hurd at HP who was then hired by Oracle.

Home Depot HD $31.51 +0.80 2.61% 15,037,186 NYSE: WSJ pC5 "Vote cast for stocks: Dow up 64.10" by Donna Yesalavich says stocks climbed broadly on Tues as investors awaited ther esults of US midterm elections seen ushering in more Republicans & a 2 day Fed Res meeting expected to yield more economic stimulus. All but a handful of the Dow's 30 components were positive led by a rise of 80 cents in Home Depot. Among the Dow's other gainers, American Express rose 83 cents while Verizon was up 40 cents.

Intel INTC $20.34 -0.23 1.12% 60,726,345 NASDAQ-GS: No mentions found.

IBM $143.84 +0.52 0.36% 4,581,532 NYSE: WSJ pB3 "Oracle hits SAP as softwre trial opens" by Jeanette Borzo says Oracle's lawyers painted SAP as a scheming rival that took Oracle's IP as a copyright infringement trial started on Tues. Separately, Oracle said it will buy software firm Art Technology Group for $1 bil to expand into online and mobile e-commerce, ramping up competition with SAP & IBM. Art Tech helps firms sell products online and has AT&T an Best Buy as customers. Oracle has said it will call Leo Apetheker, former SAP exec & now Hewlett-Packard's CEO to testify. Apotheker succeeded Mark Hurd at HP who was then hired by Oracle.

JPMorgan JPM $36.96 -0.46 1.23% 39,724,954 NYSE: No mentions found.

JNJ $63.88 +0.19 0.3% 8,540,903 NYSE: No mentions found.

KFT $31.84 +0.06 0.19% 9,421,068 NYSE: No mentions found.

McDonald's MCD $78.4 +0.52 0.67% 3,660,073 NYSE: Inv. Bus. Daily pB3 "Commodities affect prices at McDonald's" by Patrick Cain says commodity prices are key for McDonald's although one analyst says it has that factor unde control. For every 1% rise in food prices globally, Mcdonald's only needs to increase menu prices by 0.25% per Deutsche Bank analyst Jason West.

MRK $36.61 +0.36 0.99% 9,885,108 NYSE: No mentions found.

MSFT $27.39 +0.44 1.63% 54,218,408 NASDAQ-GS: USA Today p1B "Technology Every Wed" by Ed Baig, Fin Times p19 "Microsoft takes a tech leap with Kinect" by Richard Waters say the first Windows Phone 7 handsets go on sale in the US on Mon and says it has a new intuitive screen but is missing some features like copy an paste, visual voice mail, video chat and has relatively few apps but can fire up camera app even from locked screen.

WSJ pB4 "R&D spending drops at major firms" by James Hagerty says research & development spending declined last yer at major firms for the first time in a decade. Roche holding had the biggest spending total last year at $9.12 bil followed by Microsoft at $9.01 bil and Nokia at $8.24 bil. Pfizer spent $7.74 bil after Toyota.

WSJ pB6 "Microsoft's Kinect is under pressure to connect" by Nick Wingfield says Microsoft is betting its new Kinect will deliver a bigger audience for its Xbox 360 videogame console when it goes on sale Thurs as it lets people play games without a traditional controller.

Pfizer PFE $17.45 -0.17 0.96% 69,700,102 NYSE: WSJ pB5 "Pfier profit declines 70% on merger, litigation costs" by Thomas Gryta, Fin times p20 "Wyeth weights on Pfizer figurres" by Jeremy Lemer AJC pA22 "Purchase of Wyeth drags down Pfizer's profit" say Pfizer's rev was up 39% but charges related to its $68 bil takeover of Wyeth dragged down profits down 70%. Net income was $866 mil or 11 cents a share down from $2.88 bil or 43 cents per share a year earlier. Rev rose 39% to $16.17 bil, missing analyst estimates of $16.68 bil. PE raised its '10 earnings forecast to $2.17 to $2.22 from 2.10 to 2.20 a share.

WSJ pB4 "R&D spending drops at major firms" by James Hagerty says research & development spending declined last yer at major firms for the first time in a decade. Roche holding had the biggest spending total last year at $9.12 bil followed by Microsoft at $9.01 bil and Nokia at $8.24 bil. Pfizer spent $7.74 bil after Toyota.

Procter & Gam PG $64.02 +0.40 0.63% 8,049,963 NYSE: No mentions found.

MMM $84.8 +0.82 0.98% 3,793,461 NYSE: No mentions found.

Travelers TRV $55.52 -0.25 0.45% 3,566,579 NYSE: No mentions found.

United Tech UTX $75.25 +0.61 0.82% 2,776,360 NYSE: No mentions found.

Verizon VZ $32.8 +0.40 1.23% 12,909,505 Dual Listed: WSJ pC5 "Vote cast for stocks: Dow up 64.10" by Donna Yesalavich says stocks climbed broadly on Tues as investors awaited ther esults of US midterm elections seen ushering in more Republicans & a 2 day Fed Res meeting expected to yield more economic stimulus. All but a handful of the Dow's 30 components were positive led by a rise of 80 cents in Home Depot. Among the Dow's other gainers, American Express rose 83 cents while Verizon was up 40 cents.

WMT $54.79 +0.48 0.88% 8,806,238 NYSE: USA T p1B "Walmart to cut TV prices for 2 days" says Walmart may be strting a TV price was by cutting TV prices starting Sat for 2 days.

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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.