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Post No. 724 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 London today.
A read of Tuesday's Nov. 9 Investor's Business Daily, Financial Times (London issue), The Daily Telegraph (UK), European Edition of Wall St. Journal, USA Today (Int'l Edition), (London) The Independent, The Guardian (UK) & The times (UK) 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 Monday's stock prices and related data.
Dow:The Dow Jones Industrial Average closed Monday at 11,406.84 down 37.24 or 0.33% from Friday's close of 11,444.08. For the year to date the Dow is up 978.79 or 9.4%. Over the past 52 weeks the Dow is up 1,179.90 or 11.5%. Of the 30 Dow Jones component companies 7 gained and 23 declined. The biggest gainer dollar-wise was Hewlett-Packard HPQ $44.25 +0.53 1.21% 15,703,833 NYSE and percentage-wise was Bank of America BAC $12.6 +0.24 1.94% 247,269,945 NYSE. The biggest decliner dollar-wise was Boeing BA $70.21 -1.06 1.49% 4,160,574 NYSE and percentage wise was Travelers TRV $56.58 -0.86 1.5% 3,218,996 NYSE.
Fin Times p36 "Upgrade bolsters Intel but S&P 500 retreats" by Hannah Kuckhler says deal speculation & an analyst upgrade for Intel helped the tech sector edge up while all other 10 main sectors of the S&P 500 fell. Analysts predicted the PC component inventory cycle had bottomed and that the threat from tablet computers was included in the sales outlook.
As of the open of the market Tuesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal (US edition) is 0.132129493, the trailing P/E ratio is 15 from Monday's 14.63. 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.
Monday's Dow Jones Industrial Average closing numerator was 1,507.18 down 4.92 from Friday's closing numerator of 1,512.10. 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 Monday's Dow Jones Industrial Average was $50.24 down 0.16 from Friday's Dow Jones Industrial Average average closing price of $50.40. The median closing price of Monday's Dow Jones Industrial Average was $42.38 (HPQ/JPM) up .005 from Friday's median price of $42.33. The lowest volume was United Technologies UTX $76.63 -0.12 0.16% 3,149,208 NYSE and the highest volume was again Bank of America BAC $12.6 +0.24 1.94% 247,269,945 NYSE.
If Monday 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 lso $492 ($151,210 - $150,718.)
MarketWatch Friday 11/8/10 5:28 pm by Kate Gibson says U.S stocks on Monday retreated from more than two-year highs as the euro softened against the dollar due to resurfacing worries about Europe’s unsettled debt issues. “Unresolved debt dynamics are resurfacing,” noted Marc Chandler, global head of currency strategy at Brown Brothers Harriman & Co., pointing to Greece and Ireland as hot spots.
After six consecutive sessions higher, the Dow Jones Industrial Average (DJIA 11,407, -37.32, -0.33%) on Monday fell 37.24 points, or 0.3%, to 11,406.84, with 22 of its 30 components on the decline. A European Union official traveled to Ireland Monday as Dublin seeks to avoid a bailout and investors sold Irish bonds.
Greece has the “worst performing bond market in the euro zone followed by Ireland, which has sufficient funds on hand to last until the middle of 2011,” Chandler said. Read more on sovereign-debt worries in Europe. QE2 worries are replaced by renewed concerns over European sovereign debt, leading U.S. stocks lower. The S&P 500 Index (SPX 1,223, -2.60, -0.21%) shed 2.60 points, or 0.2%, to 1,223.25, with financial companies down the most and energy performing the best among the index’s 10 industry groups. The Nasdaq Composite Index (COMP 2,580, +1.07, +0.04%) closed up 1.07 points to 2,580.05. For every seven stocks that rose, eight fell on the New York Stock Exchange, where 909 million shares traded. “Everybody is starting the week asking themselves, ‘what is it that is going to move the market farther?’ I think it’s very predictable that we’re going to get some profit taking, it takes courage to step in and buy the stock market when it’s up 10.5% over eight weeks,” said Hugh Johnson, chairman and chief investment officer at Hugh Johnson Advisors.
Commodities including gold and oil ended higher, propelling gold above $1,400 an ounce, with gains limited by a stronger dollar. The dollar index (DXY 77.05, +0.50, +0.66%) rose more than 0.7% to 77.05. The dollar and U.S. stocks often trade on opposite paths, with a weak dollar seen as providing investors with cheap funding to buy stocks. Plus the dollar’s drop generally helps U.S. companies’ overseas sales. Read more on the euro and dollar in Currencies. Johnson, however, dismissed reading too much into the greenback’s rise. “Again, we’re reversing some of the things that have occurred over the last eight weeks. It doesn’t mean the principle downward trend of the dollar has changed, it doesn’t mean that interest rates are about to rise. All the trends that were in place last week are still fine,” Johnson said. Among notable movers, Louisiana-Pacific Corp. (LPX 8.25, -0.56, -6.36%) shares were up 9.6% after the manufacturer of building materials reported a third-quarter loss that was less than analysts had expected. After the market closes on Wednesday, Cisco Systems Inc. (CSCO 24.42, +0.03, +0.12%) reports its fiscal first-quarter results, with the globe’s biggest maker of computer-networking equipment viewed as a bellwether for business investment.
Monday's Closing Dow Numbers and Tuesday's News:
AT&T T $29.18 -0.09 0.31% 15,182,859 NYSE: No mentions found.
Alcoa AA $13.961 -0.039 0.28% 22,646,198 NYSE: No mentions found.
Amex AXP $43.9 -0.17 0.39% 7,644,985 NYSE: No mentions found.
Bank of Am BAC $12.6 +0.24 1.94% 247,269,945 NYSE: No mentions found.
Boeing BA $70.21 -1.06 1.49% 4,160,574 NYSE: WSJ p1 "Rolls narrows its probe of Qantas engine failure" by Daniel Michaels, Enda Curran, Fin Times "Rolls says jet engine failures not related" by Peer Marsh, Pilita Clark, The Guardian (UK) p29 "Rools-Royce plays down Airbus fears wile Qantas keeps fleet grounded" byTim Webb, Dan Milmo say Rolls-Royce said that the explosion of one of its engines on a Qantas A380 jet last week was unrelated to an apparently similar accident in Aug. with a test engine for the 787 Dreamliner made by Boeing. Rolls-Royce is the second largest civil aerospace engine manufacturer in the world, behind GE which could benefit from the A380 problems.
CAT $83.12 -0.42 0.5% 4,278,458 NYSE: No mentions found.
Chevron CVX $84.8 -0.18 0.21% 11,793,954 NYSE: Daily Telegraph pB10 "Shell sell-off sparks Woodside speculation" by Roland Gribben says Shell has put Woodside Petroleum back in the bid frame with the sale of a third of its holding in Australia's biggest independent oil & gas business. Shell is in partnership with Chevron as well as Woodside and ExxonMobil in various liquid gas ventures and could increase capacity in Australia alone from a current level of 2.7 mil tonnnes a year to 16 m over the next 6 ears.
CSCO $24.39 +0.13 0.54% 40,332,838 NASDAQ-GS: No mentions found.
Coke KO $62.46 -0.12 0.19% 5,562,865 NYSE: No mentions found.
DIS $37.06 -0.14 0.38% 6,784,542 NYSE: No mentions found.
DuPOnt DD $48.37 +0.19 0.39% 4,235,949 NYSE: No mentions found.
Exxon XOM $70.32 -0.32 0.46% 23,598,962 NYSE: Daily Telegraph pB10 "Shell sell-off sparks Woodside speculation" by Roland Gribben says Shell has put Woodside Petroleum back in the bid frame with the sale of a third of its holding in Australia's biggest independent oil & gas business. Shell is in partnership with Chevron as well as Woodside and ExxonMobil in various liquid gas ventures and could increase capacity in Australia alone from a current level of 2.7 mil tonnnes a year to 16 m over the next 6 ears.
GE $16.71 +0.02 0.12% 47,719,536 NYSE: WSJ p21 "GE names veteran to global job" by Paul Glader says GE is reassigning Vice Chair John G. Rice to a new job aimed at spurring overseas sales, which GE is counting on heavily gto drive its growth. Rice will be responsible for all non-US markets, with emphasis on high growth areas such as China,India, Mid East and Brazil.
Hewlett-Packard HPQ $44.25 +0.53 1.21% 15,703,833 NYSE: Fin Times "Special Report Connected Business" p1 "A trip with a tablet can be like travelling with a donkey" by Alan Cane says the iPad will face competition from over a dozen tablets including a machine from Hewlett-Packard based on technology from Palm which HP bought this year for $1 bil and may be the most significant participant in the bus market.
Home Depo HD $31.49 -0.43 1.35% 9,690,221 NYSE: No mentions found.
Intel INTC $21.23 -0.01 0.05% 52,903,716 NASDAQ-GS: Fin Times p36 "Upgrade bolsters Intel but S&P 500 retreats" by Hannah Kuckhler says deal speculation & an analyst upgrade for Intel helped the tech sector edge up while all other 10 main sectors of the S&P 500 fell. Analysts predicted the PC component inventory cycle had bottomed and that the threat from tablet computers was included in the sales outlook.
IBM $146.46 -0.46 0.31% 4,458,250 NYSE: No mentions found.
JPMorgan JPM $40.51 -0.43 1.05% 32,909,567 NYSE: No mentions found.
JNJ $64.33 -0.32 0.49% 8,444,979 NYSE: No mentions found.
KFT $31.12 +0.04 0.13% 9,705,265 NYSE: No mentions found.
MCD $79.31 +0.01 0.01% 4,860,934 NYSE: No mentions found.
MRK $35.62 -0.08 0.22% 13,683,199 NYSE: No mentions found.
Microsoft MSFT $26.81 -0.04 0.15% 71,636,868 NASDAQ-GS: USA Today p6A "Ballmer sells some Microsoft stock" says Microsoft's CEO Steve ballmet sold $1.3 bil of his sotck recently He still has 350 mil shares.
Pfizer PFE $17.051 -0.129 0.75% 37,684,320 NYSE: No mentions found.
Proctor & Gam PG $64.75 -0.25 0.38% 7,200,898 NYSE: No mentions found.
MMM $85.86 -0.48 0.56% 5,514,614 NYSE: No mentions found.
Travelers TRV $56.58 -0.86 1.5% 3,218,996 NYSE: No mentions found.
United Technologies UTX $76.63 -0.12 0.16% 3,149,208 NYSE: No mentions found.
Verizon VZ $33.17 -0.26 0.78% 10,960,856 Dual Listed: No mentions found.
WMT $54.91 -0.29 0.53% 9,939,300 NYSE: No mentions found.
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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