1/31/11 Mon pm Dow Closes at 11,891.93 up 68.23 or 0.58%

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Post No. 850 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 Dow Jones Industrial Average closed Monday at 11,891.93 up 68.23 points or 0.58% from Friday's close of 11,823.70. Of the 30 Dow Jones component companies 22 gained, Intel was unchanged and 7 declined. The biggest gainer dollar-wise was IBM $162 +2.79 1.75% 7,192,098 NYSE and percentage-wise was Exxon XOM $80.68 +1.69 2.14% 34,487,061 NYSE. The biggest decliner dollar-wise and percentage-wise was Procter & Gamble PG $63.13 -1.07 1.67% 12,559,077 NYSE.

As of the open of the market Monday, 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 14.49 (year ago it was 16.30); the P/E estimate is 12.63 (year ago it was 12.99), and the dividend yield is 2.43 (last year it was 2.72). 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 1,571.27 up 9.01 from Friday's closing numerator of 1,562.26. 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 Monday's Dow Jones Industrial Average was $52.38 up $0.30 from Friday's Dow Jones Industrial Average average closing price of $52.08. The median closing price of Monday's Dow Jones Industrial Average was $45.32 (HPQ/JPM). The lowest volume was 3M MMM $87.92 +0.48 0.55% 4,114,276 NYSE and the highest volume was again Bank of America BAC $13.73 +0.13 0.96% 117,476,263 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 made $900 ($157,140 -$156,240).

MarketWatch Monday 1/31/11 4:59 by Kate Gibson says US stocks rose Monday, helping lift the Dow to its best January in 14 years, as investors took upheaval in Egypt in stride and Exxon Mobil Corp.’s results blew past expectations. “Overall, given what is going on in Egypt, it’s rather encouraging the market is holding up as well as it is,” said David Kelly, chief market strategist at J.P. Morgan Funds.
However, “we shouldn’t always assume the market reacts in a logical way to the daily news flow,” said Kelly. Recent data showed mutual-fund investors continuing to pull money out of bond funds and into equities in January, he noted. The Dow Jones Industrial Average (DJIA 11,892, +68.23, +0.58%) closed up 68.23 points, or 0.6%, to 11,891.93, led by more than 2% gains in Alcoa Inc. (AA 16.57, +0.44, +2.73%) and Exxon Mobil Corp. (XOM 80.68, +1.69, +2.14%) shares. On Friday, worries that increasingly violent protests in Egypt would spread to some of the region’s big oil-producing nations rattled investors. The Dow average made its biggest one-day drop since mid-November. For the month, the blue-chip average rose 2.7%, its first January gain in four years and its best January performance since 1997. “We can only hope that the January effect, in which the first month’s performance dictates the trend for the year, is in place for 2011,” noted Andrew Fitzpatrick, director of investments at Hinsdale Associates. Shares of Intel Corp. (INTC 21.46, 0.00, 0.00%) closed flat, shedding earlier losses, after the company said it would discontinue production of a computer chip found to have a design flaw, but raised its overall revenue forecast. The S&P 500 Index (SPX 1,286, +9.78, +0.77%) ended up 9.78 points, or 0.8%, at 1,286.12, with energy companies faring the best and consumer staples performing the worst. It rose 2.3% in January.
Shares of Exxon Mobil (XOM 80.68, +1.69, +2.14%) rose after the oil giant reported net income surged 53% to top $9 billion, and earnings per share of $1.85. Analysts expected EPS of $1.62. Massey Energy Co. (MEE 62.37, -0.49, -0.78%) fronted energy-sector gains on the S&P 500, its shares up 9.8% on a $7.1 billion buyout proposal by rival Alpha Natural Resources Inc. (ANR 53.71, -0.02, -0.04%).
The Nasdaq Composite Index (COMP 2,700, +13.19, +0.49%) added 13.19 points, or 0.5%, to 2,700.08. It rose 1.8% in January. For every stock falling Friday, more than two gained on the New York Stock Exchange, where 1.2 billion shares traded.
The major stock indexes had pared gains after Intel shares were halted pending a news release. The technology heavyweight revealed a chip-design flaw that will cost the company about $300 million in lost revenue. Stocks, however, were bolstered by economic data. An index of manufacturing in the Midwest rose more than expected and U.S. consumer spending climbed in December. Supporting energy stocks, crude-oil futures finished at more than two-year highs above $92 a barrel. “The market appears to be doing fine relative to all the political upheaval that we’ve seen over the last week or two. Usually if people are scared out of their minds, there would be a flight to quality in U.S. government bonds,” said Fred Fraenkel, vice chairman of Beacon Trust Co.Read emerging-markets report on Egypt. “We’re in a watch-and-wait period to see how all these things work out in the near term. But long term, the aspect of countries in the Middle East wanting to be less autocratic and more democratic is good,” he added.

Monday's Closing Dow Numbers:

AT&T T $27.52 +0.03 0.11% 29,236,626 NYSE
Alcoa AA $16.57 +0.44 2.73% 28,761,926 NYSE
Amex AXP $43.38 -0.48 1.09% 9,906,795 NYSE
Bank of America BAC $13.73 +0.13 0.96% 117,476,263 NYSE
Boeing BA $69.48 +0.25 0.36% 4,555,645 NYSE
Caterpillar CAT $97.01 +1.33 1.39% 6,005,884 NYSE
Chevron CVX $94.93 +1.56 1.67% 11,142,594 NYSE
CSCO $21.15 +0.22 1.05% 40,346,660 NASDAQ-GS
Coke KO $62.85 +0.64 1.03% 7,830,785 NYSE
DIS $38.87 +0.02 0.05% 8,198,346 NYSE
DuPont DD $50.68 +0.39 0.78% 7,820,652 NYSE
Exxon XOM $80.68 +1.69 2.14% 34,487,061 NYSE
GE $20.14 +0.06 0.3% 51,460,247 NYSE
Hewlett-Packard HPQ $45.69 +0.18 0.4% 21,376,338 NYSE
Home Depot HD $36.77 +0.07 0.19% 11,165,911 NYSE
Intel INTC $21.46 unch unch 90,753,004 NASDAQ-GS
IBM $162 +2.79 1.75% 7,192,098 NYSE
JPMorgan JPM $44.94 +0.40 0.9% 23,493,828 NYSE
JNJ $59.77 -0.24 0.4% 19,032,536 NYSE
KFT $30.57 +0.04 0.13% 10,797,521 NYSE
MCD $73.67 +0.39 0.53% 6,367,758 NYSE
MRK $33.17 +0.10 0.3% 14,144,114 NYSE
MSFT $27.725 -0.026 0.09% 64,997,109 NASDAQ-GS
Pfizer PFE $18.22 +0.07 0.39% 41,855,044 NYSE
Procter & Gamble PG $63.13 -1.07 1.67% 12,559,077 NYSE
3M MMM $87.92 +0.48 0.55% 4,114,276 NYSE
Travelers TRV $56.26 +0.45 0.81% 6,748,223 NYSE
United Tech UTX $81.3 -0.13 0.16% 4,275,479 NYSE
Verizon VZ $35.62 -0.01 0.03% 14,478,904 DualListed
WMT $56.07 -0.63 1.11% 15,674,940 NYSE


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The following are excerpts from Monday morning's Blog.

There was no Blog this morning as a result of your Blogger running the Miami Marathon.
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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