1/1/11 Sat. am Bank of America Loses Countrywide Ruling; Pfizer Loses Cancer Case

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Post No. 804 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 Dec. 7, 2010 and Dow 30 component's SEC filings as of Dec. 11, 2010.

A read of Monday's (1/3/11) Barron's and Saturday's New York Times, & Atlanta Journal Constitution 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 Jones Industrial Average: The Dow Jones Industrial Average closed Friday at 11,577.51 up 7.8 points or 0.07% from Thursday's close of 11,569.71. For 2010 the Dow was up 11.02%. Of the 30 Dow Jones component companies 20 gained, Cisco and McDonald's were unchanged and 8 declined. The biggest gainer dollar-wise was American Express AXP $42.94 +0.43 1.01% 2,932,874 NYSE and percentage-wise was Alcoa AA $15.39 +0.18 1.18% 14,285,163 NYSE. The biggest decliner dollar-wise was Chevron CVX $91.35 -0.25 0.27% 3,913,032 NYSE and percentage-wise was Hewlett-Packard HPQ $42.-1 0.16 0.38% 7,424,421 NYSE.

As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C4 of Friday's Wall St. Journal is 0.132129493. The trailing P/E is 14.75 down from Thursday's 14.77 (year ago it was 18.09); the P/E estimate is 13.54 unchanged from Thursday's 13.54 (year ago it was 16.40), and the dividend yield is 2.48 unchanged from Thursday's 2.48 (last year it was 2.64). 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 1,529.73 up 1.04 from Thursday's closing numerator of 1,528.69. 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 $50.99 up $0.03 from Thursday's Dow Jones Industrial Average average closing price of $50.96. The median closing price of Friday's Dow Jones Industrial Average was $42.47 (AXP/HPQ up $0.38 from Thursday's median closing price of $42.39. The lowest volume was 3M MMM $86.3 -0.24 0.28% 1,787,008 NYSE and the highest volume was again Bank of America BAC $13.34 +0.06 0.45% 62,264,782 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 nade $83 ($152,973 - $152,880).

MarketWatch Friday 12/31/10 4:25 by Nick Godt says U.S. stocks ended 2010 with strong gains, advancing for the second year in a row, as stimulus measures from the Federal Reserve and the government and recent signs of improvement in the economy encouraged investors' spirits. The Dow Jones Industrial Average (DJIA 11,578, +7.80, +0.07%) closed the year at 11,577.51 on Friday, up 7.8 points for the session, and less than 10 points below a two-year high it reached on Wednesday. The Dow jumped 5.2% in December and is up 11% for the year. The S&P 500 index (SPX 1,258, -0.24, -0.02%) fell 0.24 point to 1,257.64 on Friday. The broad index still jumped 6.5% for the month and is up 12.8% in 2010. The Nasdaq Composite (COMP 2,653, -10.11, -0.38%) fell 10.11 points, or 0.4%, to 2,652.87 Friday, leaving it with 6.2% advance in December and a 16.9% gain for the year.

Friday's Closing Dow Numbers and News from Barron's:

AT&T T $29.38 +0.05 0.17% 15,065,095 NYSE:

Alcoa AA $15.39 +0.18 1.18% 14,285,163 NYSE:

American Express AXP $42.94 +0.43 1.01% 2,932,874 NYSE:

Bank of America BAC $13.34 +0.06 0.45% 62,264,782 NYSE: Sat AJC pA12 "No easy break for Bankof America" by David Hilzenrath, Washington Bost says BofA and its Countrywide mortgage unit lost a major procedural ruling brought by MBIA insurance Corp. The NY State Supreme Court said that instead of spending $75 and 4 years to evaluate 368,000 disputed loan, MBIA can pursue its case on a statistical sample of 6,000 disputed loans.

Barron's p16 "Reading the 2011 tea leaves" is a multiple choice quiz with the author's answers given at the end of the article and he says that of '10 laggards that include Cisco, Bank of America an Hewlett-Packard, Western Digital does the best in '11, that Pepsi's Indra Nooyi (and not Microsoft's Ballmer, Cisco's Chambers or Bank of America's Brian Moynihan will be gone by year's end; that Bank of America will be 11's top performing Dow industrial (including dividends", and that Caterpillar will be the worst-performing stock in the Dow.

Barron's pM11 "The force is with financials" by Steven M. Sears says that the options action is bullish in out of the money calls on JPMorgan and Bank of America that assumes their dividends will mroe than double in the first quarter which will attract new buyers and cause the stocks' prices to advance.

Boeing BA $65.27 +0.26 0.4% 1,854,369 NYSE:

Caterpillar CAT $93.69 -0.18 0.19% 2,331,152 NYSE: Barron's p16 "Reading the 2011 tea leaves" is a multiple choice quiz with the author's answers given at the end of the article and he says that of '10 laggards that include Cisco, Bank of America an Hewlett-Packard, Western Digital does the best in '11, that Pepsi's Indra Nooyi (and not Microsoft's Ballmer, Cisco's Chambers or Bank of America's Brian Moynihan will be gone by year's end; that Bank of America will be 11's top performing Dow industrial (including dividends", and that Caterpillar will be the worst-performing stock in the Dow.

Chevron CVX $91.35 -0.25 0.27% 3,913,032 NYSE: Barron's p17 "Cover story ' hear, hear, Our favorites stocks for 2011" by Andrew Bary says its time to renew auld acquaintance with underpriced big caps such as ExxonMobil, Pfizer, Walmart, PepsiCo and GM. Barron's has identified 10 big caps worth buying that in addition to those mentioned also includes JPMorgan, Chevron and Cisco.

Cisco CSCO $20.23 unch unch 28,232,362 NASDAQ-GS: Barron's p16 "Reading the 2011 tea leaves" is a multiple choice quiz with the author's answers given at the end of the article and he says that of '10 laggards that include Cisco, Bank of America an Hewlett-Packard, Western Digital does the best in '11, that Pepsi's Indra Nooyi (and not Microsoft's Ballmer, Cisco's Chambers or Bank of America's Brian Moynihan will be gone by year's end; that Bank of America will be 11's top performing Dow industrial (including dividends", and that Caterpillar will be the worst-performing stock in the Dow.

Barron's p17 "Cover story ' hear, hear, Our favorites stocks for 2011" by Andrew Bary says its time to renew auld acquaintance with underpriced big caps such as ExxonMobil, Pfizer, Walmart, PepsiCo and GM. Barron's has identified 10 big caps worth buying that in addition to those mentioned also includes JPMorgan, Chevron and Cisco.

Coke KO $65.8 +0.30 0.46% 4,570,778 NYSE:

Disney DIS $37.51 +0.03 0.08% 3,620,473 NYSE:

DuPont DD $49.9 +0.21 0.42% 2,010,059 NYSE:

Exxon XOM $73.15 -0.21 0.29% 12,302,082 NYSE: Barron's p17 "Cover story ' hear, hear, Our favorites stocks for 2011" by Andrew Bary says its time to renew auld acquaintance with underpriced big caps such as ExxonMobil, Pfizer, Walmart, PepsiCo and GM. Barron's has identified 10 big caps worth buying that in addition to those mentioned also includes JPMorgan, Chevron and Cisco.

GE $18.31 +0.12 0.66% 23,575,830 NYSE:

Hewlett-Packard HPQ $42.-1 0.16 0.38% 7,424,421 NYSE: Barron's p21 "Coming to Vegas: the tablet rat pack" says at the Consumer Electronics Show next week Microsoft will give the keynote, Hewlett-Packard and Intel will show of tablets and Motorola will show off new gear for Verizon to run on Verizon's 4G wireless ervice unveiled by Verizon in Dec.

Home Depot HD $35.06 +0.20 0.57% 5,389,274 NYSE:

Intel INTC $21.03 +0.01 0.05% 15,404,826 NASDAQ-GS: Barron's p21 "Coming to Vegas: the tablet rat pack" says at the Consumer Electronics Show next week Microsoft will give the keynote, Hewlett-Packard and Intel will show of tablets and Motorola will show off new gear for Verizon to run on Verizon's 4G wireless ervice unveiled by Verizon in Dec.

IBM $146.76 +0.09 0.06% 2,948,306 NYSE:

JPMorgan JPM $42.45 +0.22 0.52% 10,558,510 NYSE: Barron's pM11 "The force is with financials" by Steven M. Sears says that the options action is bullish in out of the money calls on JPMorgan and Bank of America that assumes their dividends will mroe than double in the first quarter which will attract new buyers and cause the stocks' prices to advance.

Barron's p17 "Cover story ' hear, hear, Our favorites stocks for 2011" by Andrew Bary says its time to renew auld acquaintance with underpriced big caps such as ExxonMobil, Pfizer, Walmart, PepsiCo and GM. Barron's has identified 10 big caps worth buying that in addition to those mentioned also includes JPMorgan, Chevron and Cisco.

Johnson & Johnson JNJ $61.87 -0.07 0.11% 4,005,691 NYSE:

Kraft KFT $31.53 +0.02 0.06% 2,704,459 NYSE:

McDonald's MCD $76.76 unch unch 2,473,730 NYSE:

Merck MRK $36.04 +0.03 0.08% 5,423,740 NYSE:

Microsoft MSFT $27.91 +0.06 0.22% 24,168,036 NASDAQ-GS: Barron's p16 "Reading the 2011 tea leaves" is a multiple choice quiz with the author's answers given at the end of the article and he says that of '10 laggards that include Cisco, Bank of America an Hewlett-Packard, Western Digital does the best in '11, that Pepsi's Indra Nooyi (and not Microsoft's Ballmer, Cisco's Chambers or Bank of America's Brian Moynihan will be gone by year's end; that Bank of America will be 11's top performing Dow industrial (including dividends", and that Caterpillar will be the worst-performing stock in the Dow.

Barron's p21 "Coming to Vegas: the tablet rat pack" says at the Consumer Electronics Show next week Microsoft will give the keynote, Hewlett-Packard and Intel will show of tablets and Motorola will show off new gear for Verizon to run on Verizon's 4G wireless ervice unveiled by Verizon in Dec.

Pfizer PFE $17.51 +0.02 0.11% 23,675,316 NYSE: AJC pA11 "Pfizer owes $1.5 mil afte woman gets cancer" says Pfizer must pay $1.5 mil in damages to a pharmacist whod eveloped breat cancer after taking a menopause drug, a jury in Purerto Rico ruled.

Barron's p17 "Cover story ' hear, hear, Our favorites stocks for 2011" by Andrew Bary says its time to renew auld acquaintance with underpriced big caps such as ExxonMobil, Pfizer, Walmart, PepsiCo and GM. Barron's has identified 10 big caps worth buying that in addition to those mentioned also includes JPMorgan, Chevron and Cisco.

Procter & Gamble PG $64.33 +0.05 0.08% 5,220,565 NYSE:

3M MMM $86.3 -0.24 0.28% 1,787,008 NYSE:

Travelers TRV $55.71 +0.17 0.31% 1,898,175 NYSE:

United Technologies UTX $78.72 -0.13 0.16% 1,780,207 NYSE:

Verizon VZ $35.78 +0.22 0.62% 12,046,196 DualListed: Barron's p21 "Coming to Vegas: the tablet rat pack" says at the Consumer Electronics Show next week Microsoft will give the keynote, Hewlett-Packard and Intel will show of tablets and Motorola will show off new gear for Verizon to run on Verizon's 4G wireless ervice unveiled by Verizon in Dec.

Walmart WMT $53.93 -0.14 0.26% 7,068,759 NYSE: Barron's p17 "Cover story ' hear, hear, Our favorites stocks for 2011" by Andrew Bary says its time to renew auld acquaintance with underpriced big caps such as ExxonMobil, Pfizer, Walmart, PepsiCo and GM. Barron's has identified 10 big caps worth buying that in addition to those mentioned also includes JPMorgan, Chevron and Cisco.

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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 Kenneth Frazer 1/1/11 replaces Richard Clark (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (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 12/7/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $361 [5]
2. Microsoft MSFT 233 [9]
3. WalMart WMT 200 [3.5]
4. GE 182.5 [10.5]
5. IBM 179 [1]
6. Procter & Gamble PG 176 [3]
7. Chevron CVX 174 [2]
8. Johnson & Johnson JNJ 171 [3]
9. AT&T T 169 [6]
10. JPMorgan Chase JPM 154 [4]
11. Coke KO 149 [2.5]
12. Pfizer PFE 134.5 [8]
13. Intel INTC 120.5 [5.5]
14. Bank of America BAC 117 [10]
15. Cisco CSCO 111 [6]
16. Merck MRK 109 [3]
17. Verizon VZ 98 [3]
18. Hewlett-Packard HPQ 96 [2.5]
19. McDonald's MCD 85 [1]
20. United Technologies UTX 72.5 [1]
21. Disney DIS 71 [2]
22. 3M MMM 60.5 [.5]
23. Caterpillar CAT 57.5 [.5]
24. Home Depot 55 [1.5]
25. American Express AXP 54 [1]
26. Kraft KFT 53.5 [2]
27. Boeing BA 48.5 [1]
28. DuPont DD 45 [1]
29. Travelers 25.5 [.5]
30. Alcoa AA 14.5 [1]

Here are the latest 8K, 10Q & 10K SEC filings as of 12/11/10:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

AT&T T: 12/7/10 8K re: replacement of existing 5 year $9.4 bil revolving credit facility
12/1/10 8K re: redemption of all 7.8% notes due 3/1/11
11/5 10Q for quarter ending 9/30/10

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

American Express AXP: 11/15/10 8K re: delinquency & write-off statistics for period ending 10/31/10
11/3/10 10Q for quarter ending 9/30/10
11/2/10 8K re: changes to retirement plan for officers

Bank of Am BAC: 11/5/10 10Q for quarter ending 9/30/10
11/5/10 8K re: status of Countrywide litigation
10/20/108K re: registration of 50,354,545 shares

Boeing BA: 12/3/10 8K re: election o Ronald A. Williams to Board of Directors and the Audit & Finance Committees
11/16/10 8K re: $2.3 bil 364 day revolving credit agreement

Caterpiller CAT: 12/10/10 8K re: election of Jesse J. Greene, Jr. & Miles D. White to Board of Directors and Greene to the Audit Committee & White to Governance Committee
12/7/10 8K re: entering into bridge loan of up to $8.6 bil
11/18/10 8K re: status of acquisition of Bucyrus
11/18/10 8K 3 month dealer statistics
11/15/10 8K re: acquisition of Bucyrus for $8.6 bil to close mid '11
11/12/10 8K/A resignation of Gail D. Foster from Board of Directors
11/4/10 10Q for quarter ending 9/30/10

Chevron CVX:11/5/10 10Q for quarter ending 9/30/10
10/29 8K re 3Q net income of $3.77 bil down from $3.83 bil for 3Q '09

Cisco CSCO 11/23/10 10Q for quarter ending 10/30/10

Coke KO 12/9/10 8K re: election of Howard G. Buffett to Board of Directors & Public Issue & Diversity Relations Committees
12/1/10 8K/A re: technical amendment of prior 8K
11/23/10 8K re: result of cash tender offer for debt
11/18/10 8K re: completion of note offering
11/16/10 8K re: resignation of Cathleen p. Black from Board to become Chancellor of NYC Schools
11/8/10 8K re: underwriting agreement for issuance of notes
11/4/10 8K re tender offer for CCE debt
10/29/10 10Q for quarter ending 10/1/10

Disney DIS 11/24/10 10K for year ending 10/2/10
11/12/10 8K re: results of 4Qtr earnings

DuPont DD: 12/10 8K re: retirement of Jeffrey L, Keefer as EVP
10/21/10 10Q for 3rd quarter ending 9/30/10
10/26/10 8K re 3Q results

ExxonMobil XOM: 11/30/10 8K re: revisions to officers' compensation plan
11/16/10 10Q re 3Q results ending 9/30/10
10/28/10 8K re: 3Q results
10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm

GE: 11/3/10 10Q re 9/30/10 results

Hewlett-Packard HPQ: 12/2/10 8K re: underwriting agreement for issuance of notes
11/22/10 8K re: 4Q results
10/18/10 8K re: election of Leo Aptheker as Pres/CEO

Home Depot HD: 12/2/10 10Q re: results for period ending 10/31/10
11/16/10 8K re: update of fiscal year '10 guidance

Intel INTC: 11/12/10 8K re: 15% increase of quarterly cash dividend
11/2/10 10Q for quarter ending 9/25/10

IBM: 12/8/10 8K re: underwriting agreement re: debt
12/6/10 8K re: resignatin of Cathleen Black from Board of Directors
10/26/10 10Q for period ending 9/30/10

JPMorganChase JPM: 10/28/10 8K/A re: amendment to replace capital covenants re: debt
10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results

Johnson & Johnson JNJ : 11/10/10 10Q for quarter ending 10/3/10

Kraft KFT:12/6/10 8K re: seeking preliminary injunction vs. Starbucks
11/30/10 8K re: arbitration with Starbucks'11/29/10 8K re: cash debt tender offer to holders of $1 bil of notes
11/8/10 8K re: status of agreement with Starbucks'
11/5/10 10Q for quarter ending 9/30/10
11/4/10 8K re: 3Q results

McDonalds MCD: 12/10 8K re: amendment of Cert. of Incorp re: designations of rights of preferred stock
12/9/10 8K re: global sales results
11/9/10 8K re: results of global sales results
11/5/10 8K re: resignation of Denis Hennequin as President of McDonald's Europe to be replaced by Steve Easterbook
11/5/10 10Q for period ending 9/30/10

Merck MRK: 12/10/10 8K re: sale of 2.2% notesw due '16
11/30/10 8K re: election of Kenneth C. Frazier a CEO with Richard T. Clark staing as Chair
11/8/10 10Q for period ending 9/30/10

Microsoft MSFT: 11/19/10 8K re: results of 11/16/10 Annual Meeting of Shareholders

Pfizer PFE: 12/9/10 8K re: resignation of Jeffrey B. Kindler as CEO & election of Ian C. Read as Pres/CEO
11/12/10 10Q for quarter ending 10/3/10
11/2/10 8K re: 3Q results
10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's purchase of King Pharmaceuticals, Inc.

Procter & Gamble PG: 11/18/10 8K re: close of sale of $1 bil of 1.8% notes due '15
10/28/10 10Q for period ending 9/30/10
10/27/10 8K re: results for quarter ending 9/30/10

3M MMM: 12/7/10 8K re: re: financial outlook for '11
11/5/10 10Q re: quarter ending 9/30/10'
10/28/10 8K re: 3Q results of $6.9 bil sales

Travelers TRV: 11/10/10 8K re: completion of tender offer for 6.25% debentures due '67
11/9/10 8K re: modification of rights of holders of 6.75% notes due '36
11/8/10 re: purchase of 43% of a Brazilian surety
11/8/10 8K & 11/5/10 8K re: amendment of consent solicitation of 6.75% notes
11/1/10 8K re: underwriting agreement for sale of notes
10/27/10 8K re: tender offer to holders of 6.25% due '67

United Technologies UTX: 12/10/10 8K re: election of Ellen Kullman, DuPont CEO to Board of Directors
12/10/10 8K re: resignation of Carlos M. Gutierrez from Board
10/25/10 10Q for period ending 9/30/10

Verizon Communications Inc. VZ: 12/8/10 8K/A re: Board committee assignments of Rodney E. Slater
11/10/10 8K/A re: election of Lowell C. McAdam as Pres/COO & Francis J. Shammo EVP & CFO
10/28/10 10Q for period ending 9/30/10

WalMart WMT: 12/6/10 10Q for period ending 10/31/10
11/16/10 8K re: 3 Qtr EPS 0.95 cents and raising full year EPS guidance from $3.95 to $4.05