1/27/11 Thurs am Boeing's Earnings Disappoint

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Post No. 847 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.

A read of the print editions of Thursday'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 Wednesday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 11,985.44 up 8.25 points or 0.07% from Tuesday's close of 11,977.19. For the year the Dow is up 3.52%. Of the 30 Dow Jones component companies 13 gained, AT+T was unchanged and 16 declined. The biggest gainer dollar-wise and percentage-wise was DuPont DD $50.32 +1.28 2.61% 9,890,032 NYSE. The biggest decliner dollar-wise and percentage-wise was Boeing BA $70.01 -2.23 3.09% 12,551,636 NYSE.

WSJ pC5 "DJIA retakes 12000, then gives it back" by Jonathan Cheng says the Dow went over 12000 for the first time in almost 3 years but closed just short of it as investors digested Pres Obama's State of the Union address and the Fed Res' unanimous decision to stay the course on supporting the economy. The Dow was restrained by disappointing earnings from Boeing. Leading on the upside was DuPont.

Fin Times p26 "House sales figures help Dow to 12,000 as equities receive a tonic" by Michael Stothard saysthe wider markets ticked up as Pres Obama called for corp tax reductions in exchange for an end to industry specific tax breaks.

NYT pB1 "Dow flirts with 12000, then fades" by Chris Hauser says the Dow rose above 12000 but then dropped back at the close.

USA Today p4B "Dow briefly climbs back above 12,000" by Bloomberg says stocks went above 12000 for the first time since June '08 after the Fed Res maintained stimulus measures & new home sales topped projections.

As of the open of the market Thursday, 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 14.90 up from Wednesday's 14.89 (year ago it was 16.56); the P/E estimate is 12.59 unchanged from Wednesday's 12.59 (year ago it was 13.30), and the dividend yield is 2.40 unchanged from Wednesday's 2.40 (last year it was 2.67). 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.

Wednesday's Dow Jones Industrial Average closing numerator was 1,583.62 up 1.08 from Tuesday's closing numerator of 1,582.54. 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 Wednesday's Dow Jones Industrial Average was $52.79 up $0.04 from Tuesday's Dow Jones Industrial Average average closing price of $52.75. The median closing price of Wednesday's Dow Jones Industrial Average was $45.95 (HPQ/JPM) down $0.02 from Tuesday's median closing price of $45.97. The lowest volume was 3M MMM $89.57 +1.07 1.21% 4,041,210 NYSE and the highest volume was again Bank of America BAC $13.565 -0.065 0.48% 138,107,900 NYSE.

If Wednesday 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 108 ($158,362 -$158,254).

MarketWatch Wednesday 1/26/11 4:11 by Laura Mandaro says US stocks closed mildly higher Wednesday, after a report of strong new-home sales offset some disappointing earnings reports from bellwethers such as Boeing Co. (BA 70.02, +0.04, +0.06%) . The Dow Jones Industrial Average (DJIA 11,986, +8.32, +0.07%) was up 8.25 points, or 0.1%, at 11,985.44 by the close of U.S. stock-market trading, after crossing the 12,000 mark earlier in the day. The S&P 500 (SPX 1,297, +5.45, +0.42%) added 5.45 points, or 0.4%, to 1,296.63. The Nasdaq Composite (COMP 2,740, +20.25, +0.75%) rose 20.25 points, or 0.7%, to 2,739.5.


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

ATT $28.76 unch unch 22,467,048 NYSE: No mentions found.

Alcoa AA $16.61 +0.37 2.28% 28,487,364 NYSE: No mentions found.

Amex AXP $44.5 -0.30 0.67% 7,572,640 NYSE: No mentions found.

BofA BAC $13.565 -0.065 0.48% 138,107,900 NYSE: No mentions found.

Boeing BA $70.01 -2.23 3.09% 12,551,636 NYSE: WSJ pB6 "Boeing is confident on deliveries" by Peter Sanders, NYT pB3 "Boeing forecasts a hit to profit, but production is expected to rise" by Chris Drew, Fin Times p18 "Boeing expects earnings to fall sharply amid delivery woes" by Hal Weitzman say Boeing said it is confident they will deliver between 25 and 40 new 787 & 747-8 aircraft this year, despite delays that have set both programs back by years. It posted a decline in 4Q profit and gave a '11 earnings est shrot of analysts' expectations. It had a profit of $1.16 bil or $1.56 a share for 4Q, compared with $1.27 bil or 1.75 a year earlier.

WSJ pC5 "DJIA retakes 12000, then gives it back" by Jonathan Cheng says the Dow went over 12000 for the first time in almost 3 years but closed just short of it as investors digested Pres Obama's State of the Union address and the Fed Res' unanimous decision to stay the course on supporting the economy. The Dow was restrained by disappointing earnings from Boeing. Leading on the upside was DuPont.

Caterpillar CAT $95.76 1+.37 1.45% 5,838,749 NYSE: WSJ pC1 "Caterpillar aims to put pedal to the metals" by James Hagerty says Caterpillar reports 4Q results today is in a good position to profit from rising metals prices as demand rises, so does demand for CAT's mining trucks and gear. Analysts expect earnings to triple from a year earlier to $1.27 a year. This week 3M posted disappointing profit margins due to higher input costs.

Chevron CVX $94.67 +0.59 0.63% 8,083,658 NYSE: No mentions found.

CSCO $21.42 -0.12 0.56% 64,957,897 NASDAQ-GS: No mentions found.

Coke KO $62.9946 +0.0346 0.05% 6,185,656 NYSE: No mentions found.

Disney DIS $39.48 -0.38 0.95% 8,315,673 NYSE: WSJ pA1 "Hulu reworks its script as digital change hits TV" by Sam Schechner says Hulu, owned by GE's NBC Universal, Disney and News Corp. is a pioneer of Internet TV and is a top earner of web video ad dollars since its '08 launch but will now transform itself as free Web versions of their biggest TV shows are eating into their traditional business, the owners disagree as to how much of their content should be free. Hulu will start charging.

DuPont DD $50.32 +1.28 2.61% 9,890,032 NYSE: WSJ pC5 "DJIA retakes 12000, then gives it back" by Jonathan Cheng says the Dow went over 12000 for the first time in almost 3 years but closed just short of it as investors digested Pres Obama's State of the Union address and the Fed Res' unanimous decision to stay the course on supporting the economy. The Dow was restrained by disappointing earnings from Boeing. Leading on the upside was DuPont.

Exxon XOM $79.5899 +0.9099 1.16% 23,632,384 NYSE: WSJ pB3 "Exxon predicts gas use will surpass coal's" by Angel Gonzalez says Exxon increased from 1.8% to 2% the increase fro global demand for natural gas a year through '30.

GE $19.95 -0.03 0.15% 64,140,850 NYSE: WSJ pA1 "Hulu reworks its script as digital change hits TV" by Sam Schechner says Hulu, owned by GE's NBC Universal, Disney and News Corp. is a pioneer of Internet TV and is a top earner of web video ad dollars since its '08 launch but will now transform itself as free Web versions of their biggest TV shows are eating into their traditional business, the owners disagree as to how much of their content should be free. Hulu will start charging

Hewlett-Packard HPQ $46.91 -0.17 0.36% 13,400,932 NYSE: WSJ pD1 "What's on the table for tablet computers this year" by Walt Mossberg says HP plans to unveil at 10" tablet on 2/9 based on Palm's WebOS operating system which HP now owns.

Home Dep HD $37.41 +0.25 0.67% 16,442,864 NYSE: No mentions found.

Intel INTC $21.75 +0.20 0.93% 56,772,475 NASDAQ-GS: No mentions found.

IBM $161.09 -0.35 0.22% 5,049,966 NYSE: No mentions found.

JPMorgan JPM $44.99 +0.12 0.27% 24,574,400 NYSE: No mentions found.

JNJ $60.65 -0.43 0.7% 19,288,479 NYSE: No mentions found.

KFT $31.045 -0.135 0.43% 10,459,517 NYSE: No mentions found.

MCD $75.165 -0.315 0.42% 6,294,652 NYSE: No mentions found.

MRK $33.22 -0.14 0.42% 24,459,589 NYSE: No mentions found.

MSFT $28.78 +0.33 1.16% 72,613,592 NASDAQ-GS: No mentions found.

Pfizer PFE $18.39 -0.08 0.43% 49,873,236 NYSE: No mentions found.

PG $66.11 -0.59 0.88% 9,473,442 NYSE: No mentions found.

3M MMM $89.57 +1.07 1.21% 4,041,210 NYSE: WSJ pC1 "Caterpillar aims to put pedal to the metals" by James Hagerty says Caterpillar reports 4Q results today is in a good position to profit from rising metals prices as demand rises, so does demand for CAT's mining trucks and gear. Analysts expect earnings to triple from a year earlier to $1.27 a year. This week 3M posted disappointing profit margins due to higher input costs.

TRV $56.2 -0.03 0.05% 4,404,413 NYSE: No mentions found.

united Tech UTX $81.41 +0.32 0.39% 5,155,934 NYSE: No mentions found.

Verizon VZ $36.4 +0.61 1.7% 24,334,097 DualListed: No mentions found.

Walmart WMT $57.32 +0.06 0.1% 13,093,568 NYSE: WSJ pB3 "Walmart's new hot spot: Canada" by Stuart Weinberg says Walmart will spend half a bil dollars this year to expand in Canada, the latest example of a retail rush north to take advantage of Canada's relatively robust economy and eager to spend consumers.

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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 (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