12/31/10 Fri am JPMorgan Sued Over Ponzi; 3M Sued by Minn AG for Pollution

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Post No. 802 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 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 Jones Industrial Average: The Dow Jones Industrial Average closed Thursday at 11,569.71 down points or 0.14% from Wednesday's close of 11,585.38. For the year the Dow is up 10.95%. Of the 30 Dow Jones component companies 7 gained and 23 declined. The biggest gainer dollar-wise was Chevron CVX $91.6 +0.23 0.25% 4,111,829 NYSE and percentage-wise was Intel INTC $21.02 +0.08 0.38% 18,684,393 NASDAQ-GS . The biggest decliner dollar-wise and percentage-wise was American Express AXP $42.51 -0.35 0.82% 4,295,968 NYSE.

Fin Times p18 "Anadarko shale gas prospects attract bid speculation" by Telis Demos says US energy shares saw a slight lift after BHP Billiton was said to be considering a $90 a sahre bid for Anadarko Petroleum, the US based oil and gas explorer.

NYT pB5 "Shares slip back from 2 year highs" by Bloomberg says stocks declined on Thurs despite reports showing a drop in jobless claims, the fastest business expansion in 2 decades and a gain in pending home sales. American Express, DuPont and Pfizer had the biggest declines in the Dow, as it slipped from 2 year highs. Amex fell 0.8%, DuPont fell 0.7% and Pfizer, the world's biggest drug maker, declined 0.6%.

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 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.

Thursday's Dow Jones Industrial Average closing numerator was 1,528.69 down 2.08 from Wednesday's closing numerator of 1,530.77. 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 $50.96 down $0.07 from Wednesday's Dow Jones Industrial Average average closing price of $51.03. The median closing price of Thursday's Dow Jones Industrial Average was $42.39 (AXP/HPQ down $0.20 from Wednesday's median closing price of $42.59. The lowest volume was Travelers TRV $55. NYSE and the highest volume was again Bank of America BAC $13.28 -0.03 0.23% 87,166,259 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 $197 ($153,077 - $152,880).

MarketWatch Thursday 12/30/10 4:09 by Nick Godt says U.S. stocks fell slightly on Thursday, as low trading volumes and bearish Chinese manufacturing data offset upbeat U.S. economic reports. The Dow Jones Industrial Average (DJIA 11,570, -15.67, -0.14%) finished down 15.67 points, or 0.1%, at 11,569.71, with 23 of its 30 components ending lower. The S&P 500 index (SPX 1,258, -1.90, -0.15%) fell 0.2% to 1,257.88, weighed down by its financials and healthcare sectors. The Nasdaq Composite (COMP 2,663, -3.95, -0.15%) lost 0.2% to 2,662.98.

Thursday's Closing Dow Numbers and Friday's News:


AT&T T $29.33 +0.02 0.07% 12,658,335 NYSE: No mentions found.

Alcoa AA $15.21 +0.08 0.53% 14,168,289 NYSE: No mentions found.

American Express AXP $42.51 -0.35 0.82% 4,295,968 NYSE: NYT pB5 "Shares slip back from 2 year highs" by Bloomberg says stocks declined on Thurs despite reports showing a drop in jobless claims, the fastest business expansion in 2 decades and a gain in pending home sales. American Express, DuPont and Pfizer had the biggest declines in the Dow, as it slipped from 2 year highs. Amex fell 0.8%, DuPont fell 0.7% and Pfizer, the world's biggest drug maker, declined 0.6%.

Bank of America BAC $13.28 -0.03 0.23% 87,166,259 NYSE: WSJ pC3 "BofA's last picture show" by Shira Ovide says Bank of America is closing a Chicago area branch that housed a movie cinema that every Saturday night for the past 38 years would show a film for people who knew about it even though were was no marquee and advertising.

Boeing BA $65.01 -0.04 0.06% 2,339,683 NYSE:

Caterpillar CAT $93.87 +$29.33 0.02 0.07% 12,658,335 NYSE:WSJ pB6 "A 2010 Quiz" by Bart Ziegler tests your knowledge that Caterpillar bought Bucyrus for $7.6 bil which is a fellow heavy equipment maker, that Microsoft canceled the introduction of a cellphone less than 2 months after its high profile launch, that McDonald's introduced oatmeal, fruit smoothies, caramel mocha drinks, garden wraps but not Eggs McBenedict and that Walmart plans to enter Africa.

Chevron CVX $91.6 +0.23 0.25% 4,111,829 NYSE: No mentions found.

CSCO $20.23 -0.02 0.1% 25,386,576 NASDAQ-GS: No mentions found.

Coke KO $65.5 +0.05 0.08% 4,624,852 NYSE: No mentions found.

DIS $37.48 -0.12 0.32% 3,378,819 NYSE: No mentions found.

DuPont DD $49.69 -0.33 0.66% 2,236,160 NYSE: NYT pB5 "Shares slip back from 2 year highs" by Bloomberg says stocks declined on Thurs despite reports showing a drop in jobless claims, the fastest business expansion in 2 decades and a gain in pending home sales. American Express, DuPont and Pfizer had the biggest declines in the Dow, as it slipped from 2 year highs. Amex fell 0.8%, DuPont fell 0.7% and Pfizer, the world's biggest drug maker, declined 0.6%.

Exxon XOM $73.36 -0.01 0.01% 10,696,934 NYSE: No mentions found.

GE $18.19 -0.08 0.44% 28,776,540 NYSE: No mentions found.

Hewlett-Packard HPQ $42.26 -0.06 0.14% 6,729,912 NYSE: No mentions found.

Home Depot HD $34.86 -0.03 0.09% 6,456,678 NYSE: WSJ pC1 "Retailers swipe at credit card plan" by Robin Sidel says Home Depot and others are urging the Fed Res to drop a proposed rule in the Credit Card Act that would require credit card issuers to consider only a borrower's independent income rather than household income.

Intel INTC $21.02 +0.08 0.38% 18,684,393 NASDAQ-GS: No mentions found.

IBM $146.67 +0.15 0.1% 3,012,779 NYSE: No mentions found.

JPMorgan JPM $42.23 -0.13 0.31% 12,690,554 NYSE: WSJ pC3 "J.P. Morgan sued over Petters Ponzi" says the trustee trying to recoup money for the firms of convicted Ponzi scheme figure Tom Petters has sued J.P. Morgan Chase seeking $300 mil saying it knew or should have known that funds Petters used to buy Polaroid were from his Ponzi scheme.

JNJ $61.94 -0.19 0.31% 5,723,496 NYSE: No mentions found.

KFT $31.51 -0.05 0.16% 3,990,181 NYSE: No mentions found.

MCD $76.76 -0.23 0.3% 2,557,722 NYSE: No mentions found.

MRK $36.01 -0.20 0.55% 5,070,191 NYSE: No mentions found.

Microsoft MSFT $27.85 -0.12 0.43% 20,470,066 NASDAQ-GS: WSJ pB6 "A 2010 Quiz" by Bart Ziegler tests your knowledge that Caterpillar bought Bucyrus for $7.6 bil which is a fellow heavy equipment maker, that Microsoft canceled the introduction of a cellphone less than 2 months after its high profile launch, that McDonald's introduced oatmeal, fruit smoothies, caramel mocha drinks, garden wraps but not Eggs McBenedict and that Walmart plans to enter Africa.

Pfizer PFE $17.49 -0.11 0.63% 29,430,544 NYSE: WSJ pB6 "A 2010 Quiz" by Bart Ziegler tests your knowledge that Caterpillar bought Bucyrus for $7.6 bil which is a fellow heavy equipment maker, that Microsoft canceled the introduction of a cellphone less than 2 months after its high profile launch, that McDonald's introduced oatmeal, fruit smoothies, caramel mocha drinks, garden wraps but not Eggs McBenedict and that Walmart plans to enter Africa.

NYT pB5 "Shares slip back from 2 year highs" by Bloomberg says stocks declined on Thurs despite reports showing a drop in jobless claims, the fastest business expansion in 2 decades and a gain in pending home sales. American Express, DuPont and Pfizer had the biggest declines in the Dow, as it slipped from 2 year highs. Amex fell 0.8%, DuPont fell 0.7% and Pfizer, the world's biggest drug maker, declined 0.6%.

Procter & Gamble PG $64.28 -0.12 0.19% 3,788,125 NYSE: No mentions found.

3M MMM $86.54 -0.22 0.25% 1,498,170 NYSE: WSJ pB2 "3M sued over pollution claim" says Minnesota Atty Gen'l Lori Swanson sued 3M claiming a chemical it used to make various products caused damage to ground and surface water.

Travelers TRV $55.54 -0.05 0.09% 1,294,686 NYSE: No mentions found.

United Tech UTX $78.85 -0.25 0.32% 1,499,855 NYSE: No mentions found.

Verizon VZ $35.56 -0.02 0.06% 9,222,329 DualListed: No mentions found.

Walmart WMT $54.07 -0.01 0.02% 6,285,516 NYSE: Fin Times p12 "Walmart's Asian growth sets trend for global empire" by Jonathan Birchall says in 2 years Walmart has grown more abroad than in the US. Int'l businesses, such as Selyu in Japan, account for over a quarter of Walmart's annual revenues, but are less profitable than the US parent.

WSJ pB6 "A 2010 Quiz" by Bart Ziegler tests your knowledge that Caterpillar bought Bucyrus for $7.6 bil which is a fellow heavy equipment maker, that Microsoft canceled the introduction of a cellphone less than 2 months after its high profile launch, that McDonald's introduced oatmeal, fruit smoothies, caramel mocha drinks, garden wraps but not Eggs McBenedict and that Walmart plans to enter Africa.
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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