1/18/11 Tues am Boeing Starts 787 Testing Again, Loses Order to Airbus; GE in Chna JV

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Post No. 831 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 and Dow 30 component's SEC filings as of January 10, 2011.

The stock market was closed Monday due to MLK Day.

A read of the print editions of Tuesday's Barron's, & Saturday/Sunday's combined issues of each of 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 Friday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Friday at 11,787.38 up 55.48 points or 0.47% from Thursday's close of 11,731.9. For the year the Dow is up 1.81%. For the week the Dow is up 112.62 or 0.96% from last Friday's close of 11,674.76. Of the 30 Dow Jones component companies 21 gained and 9 declined. The biggest gainer dollar-wise was McDonald's MCD $74.06 +1.39 1.91% 10,558,576 NYSE and percentage-wise was American Express AXP $46.25 +1.19 2.64% 10,490,736 NYSE. The biggest decliner dollar-wise and percentage-wise was Merck MRK $34.23- 0.46 1.33% 41,594,243 NYSE.

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 is 0.132129493. The trailing P/E is 14.87 down from Friday's 14.88 (year ago it was 17.79); the P/E estimate is 12.75 down from Friday's 13.55 (year ago it was 13.65), and the dividend yield is 2.44 down from yesterday's 2.45 (last year it was 2.58). 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 1,557.45 up 7.32 from Thursday's closing numerator of 1,550.13. 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 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $51.92 up $0.25 from Thursday's Dow Jones Industrial Average average closing price of $51.67. The median closing price of Friday's Dow Jones Industrial Average was $46.25 (HPQ/AXP) down $0.09 from Thursday's median closing price of $45.36. The lowest volume was 3M MMM $88.1 +0.06 0.07% 2,089,290 NYSE and the highest volume was again Bank of America BAC $15.25 +0.48 3.25% 281,237,861 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 made $733 ($155,746 - $155,013).

MarketWatch Friday 1/14/11 4:17 by Nick Godt says U.S. stocks rose on Friday, and posted strong gains for the week, as easing concerns about European sovereign debt and upbeat earnings, including from JP Morgan Chase, fueled investor optimism. The Dow Jones Industrial Average (DJIA 11,787, +55.40, +0.47%) rose 55.48 points, or 0.5%, to end at 11,787.38 on Friday. Blue-chip gains were led by a 3.3% gain in shares of Bank of America (BAC 15.25, +0.48, +3.25%) and a 2.6% advance in American Express (AXP 46.27, +0.02, +0.03%) . JP Morgan Chase (JPM 44.94, +0.03, +0.07%) rose 1% after its quarterly results topped expectations. For the week, the Dow industrials gained 1%. The S&P 500 index (SPX 1,293, +9.48, +0.74%) rose 9.48 points, or 0.7%, to 1,293.24 on Friday, led by a 1.7% gain in the financial sector. For the week, the broad index rose 1.7%. The Nasdaq Composite (COMP 2,755, +20.01, +0.73%) gained 20 points, or 0.7%, to 2,755.30 on Friday. For the week, it gained 1.9%.


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

AT&T T $28.43 +0.35 1.25% 34,092,183 NYSE: No mentions found.

Alcoa AA $15.97 +0.22 1.4% 40,952,955 NYSE: WSJ pB4 "US firms see costs rise, hopes for sales to match" by John Shipman says Alcoa and others are forced to keep an acute focus on expenses as sales are down.

American Express AXP $46.25 +1.19 2.64% 10,490,736 NYSE: No mentions found.

Bank of America BAC $15.25 +0.48 3.25% 281,237,861 NYSE: No mentions found.

Boeing BA $70.07 +0.24 0.34% 4,529,879 NYSE: NYT pB3 "A big order lifts Airbus: by Jad Mouawad, WSJ pB1 "Airbus lands late deals to move ahead of Boeing" by Daniel Michaels say Airbus landed the first contract for an updated version of its A320 from Virgin America, helping push its '10 orders ahead of Boeing so Airbus now has 644 orders for $85 bil compared with Boeing's 625 aircraft orders worth $70 bil.

USA Today p1B "Boeing starts testing 787 again" says after test flights had been halted last fall an an inflight electrical fire forced an emergency landing Nov. 9.

Caterpillar CAT $94.01 -0.13 0.14% 4,567,382 NYSE: No mentions found.

Chevron CVX $92.83 +0.65 0.71% 5,517,614 NYSE: No mentions found.

Cisco CSCO $21.21 +0.13 0.62% 34,989,039 NASDAQ-GS: No mentions found.

Coke KO $63.13 -0.27 0.43% 6,280,596 NYSE: No mentions found.

Disney DIS $39.29 +0.03 0.08% 5,197,705 NYSE: No mentions found.

DuPont DD $49.8 +0.41 0.83% 4,453,102 NYSE: No mentions found.

Exxon XOM $77.84 +1.13 1.47% 23,173,386 NYSE: No mentions found.

GE $18.8175 +0.2175 1.17% 42,008,836 NYSE: NYT pB1 "Trading tech for sale sin China" by David Barboza,WSJ pA13 "Aviation, energy deals are expected this week" by Bob Davis say GE is wrapping up a joint venture with a Chinese firm in he civilian avionics business.

WSJ pB1 "US near approving Comcast's NBC deal" by Amy Schatz says Fed regulators are about to approve Comcast's deal to acquire control of NBC Universal from GE.

WSJ pB2 Happening this week' says on Tues IBM reports earnings and GE on Fri.

Hewlett-Packard HPQ $46.25 +0.60 1.31% 15,235,111 NYSE: No mentions found.

Home Depot HD $35.89 +0.62 1.76% 13,769,401 NYSE: No mentions found.

Intel INTC $21.08 -0.21 0.99% 154,336,530 NASDAQ-GS: No mentions found.

IBM $150 1.18 +0.79% 4,519,262 NYSE: WSJ pB4 "IBM ready for close up" by Spence Ante says IBM's CEO Sam Palmisano is making a big bet on a field called business analytics, which uses software to mine volumes of data to help make decisions.

WSJ pB2 Happening this week' says on Tues IBM reports earnings and GE on Fri.

JPMorgan JPM $44.91 +0.46 1.03% 86,737,279 NYSE: No mentions found.

Johnson & Johnson JNJ $62.55 -0.36 0.57% 11,219,273 NYSE: No mentions found.

Kraft KFT $31.34 -0.10 0.32% 5,989,866 NYSE: No mentions found.

McDonald's MCD $74.06 +1.39 1.91% 10,558,576 NYSE: No mentions found.

Merck MRK $34.23- 0.46 1.33% 41,594,243 NYSE: No mentions found.

Microsoft MSFT $28.3 +0.11 0.39% 61,785,095 NASDAQ-GS: Daily Rpt p6 "Google, Microsoft take bigger share of US search engine" by Bloomberg says Microsoft's share rose to 12% from 11.8 while Google's rose to 66.65.

Pfizer PFE $18.34 +0.12 0.66% 29,813,860 NYSE: No mentions found.

Procter & Gamble PG $65.53 +0.05 0.08% 10,922,975 NYSE: No mentions found.

3M MMM $88.1 +0.06 0.07% 2,089,290 NYSE: No mentions found.

Travelers TRV $54.63 -0.04 0.07% 3,786,471 NYSE: No mentions found.

United Technologies UTX $79.08 -0.42 0.53% 4,616,811 NYSE: No mentions found.

Verizon VZ $35.46 -0.34 0.95% 22,110,609 Dual Listed: No mentions found.

Walmart WMT $54.81 +0.02 0.04% 9,250,528 NYSE: Fin times p18 "Massmart shareholders approve Walmart offer" by Andrew England says Massmart, the S. African retailer, will sell a majority stake for $2.4 bil to Walmart as 97% of Massmart's shareholders approved it.
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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 1/10/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $378.5 [5]
2. Microsoft MSFT 241 [8.5]
3. GE 198 [10.5]
4. WalMart WMT 191.5 [3.5]
5. IBM 183.5 [1]
6. Procter & Gamble PG 182.5 [3]
7. Chevron CVX 182 [2]
8. Johnson & Johnson JNJ 171 [3]
9. JPMorgan Chase JPM 169.5 [4]
10. AT&T T 167.5 [6]
11. Coke KO 146 [2.5]
12. Pfizer PFE 146 [8]
13. Bank of America BAC 145 [10]
14. Intel INTC 115.5 [5.5]
15. Cisco CSCO 115.5 [5.5]
16. Merck MRK 115 [3]
17. Verizon VZ 107 [3]
18. Hewlett-Packard HPQ 98 [2]
19. McDonald's MCD 78 [1]
20. Disney DIS 74.5 [2]
21. United Technologies UTX 72.5 [1]
22. 3M MMM 62 [.5]
23. Caterpillar CAT 59.5 [.5]
24. Home Depot 56.5 [1.5]
25. Kraft KFT 54.5 [2]
26. American Express AXP 53.5 [1]
27. Boeing BA 51 [1]
28. DuPont DD 44.5 [1]
29. Travelers 24.5 [.5]
30. Alcoa AA 17 [1]

Here are the latest 8K, 10Q & 10K SEC filings as of 1/10/11:

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

AT&T T: 12/21/11 8K re: borrowing up to $8 bil
12/20/11 8K re: purchase of spectrum licenses from Walcomm
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: 12/16/11 8K re acquisition of Loyalty Partner, a marketing firm active in Germany, Poland & India
12/15/11 8K re; delinquency & write-off statistics through 10/31/10
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: 1/3/11 8K re: Agreement with Freddie Mac & Fannie Mae to repurchase $3 bil of loan to settle Countrywide dispute
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: 12/16/10 8K re: Nov. dealer statistics
12/14/10 8K re: changes to By-laws re: holding of Board meetings
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 12/17/10 8K re: pre-arranged exec stock trading plan
11/23/10 10Q for quarter ending 10/30/10

Coke KO 12/15/10 8K re: expiration of tender offer for notes
12/15 & 12/9/10 8Ks re: election of Howard G. Buffett to Board of Directors & Public Issue & Diversity Relations Committees
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 12/14/10 8K re: issuance of $5 bil of Noes
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: 12/16/10 8K re: departure of Director Sir William M. Castell
11/3/10 10Q re 9/30/10 results

Hewlett-Packard HPQ: 12/15/10 10K
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 Apotheker 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: 1/4/11 8K re: amendment of By-laws to decrease directors to 12
12/8/10 8K re: underwriting agreement re: debt
12/6/10 8K re: resignation of Cathleen Black from Board of Directors
10/26/10 10Q for period ending 9/30/10

JPMorganChase JPM: 12/13/10 8K re: termination of Replacement capital Covenants
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: 12/28/10 8K re: expiration & results of tender offer for notes
12/22/10 8K re: adoption of long term exec comp. program
212/13/10 28Ks re: status of tender offerfor notes
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: 12/20/10 8K re: departure and settlement re: Denis Hennequin as Pres. of MCD Europe
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% notes due '16
11/30/10 8K re: election of Kenneth C. Frazier a CEO with Richard T. Clark staying 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: 12/17/10 8K re: proposed settlement of shareholder derivative lawsuit in US Dist. Ct. SDNY
12/16/10 8K re: election of George A. Lorch as non-Exec Chair
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: 12/14/10 8K re: election of Susan Desmond-Hellmann, 53, Chancellor of U of Cal. SF to Board
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: 12/29/10 8K re: updated fin'l info re: divestiture of properties as a result of acquisition of Alltel Corp. in Jan '09
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