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Post No. 945 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 components' SEC filings as of March 21, 2011.
The Dow Jones Industrial Average closed Thursday at 12,319.73 down 30.88 points or 0.25% from Wednesday's close of 12350.61. Of the 30 Dow components 8 gained and 22 declined. The biggest gainer dollar-wise and percentage-wise was 3M MMM $93.5 +1.03 1.11% 3,190,283 NYSE. The biggest decliner dollar-wise and percentage-wise was American Express AXP $45.2 -0.71 1.55% 5,978,481 NYSE.
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 15.01 up from yesterday's trailing P/E of 14.92 (year ago it was 16.93); the P/E estimate is 12.63 unchanged from yesterday's P/E estimate of 12.63 (year ago it was 13.85), and the dividend yield is 2.37 down from yesterday's dividend yield of 2.38 (last year it was 2.51). 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 1,627.80 down 4.08 from Wednesday's closing numerator of 1,631.88. 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 7.57 change in the average.
The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was $54.26 down 0.13 cents from Wednesday's average closing price of 54.39. The median closing price of Thursday's Dow Jones Industrial Average was $45.75 (JPM/AXP) down 0.43 from Wednesday's median closing price of $46.18. The lowest volume was 3M MMM $93.5 +1.03 1.11% 3,190,283 NYSE and the highest volume was again Bank of America BAC $13.33 -0.12 0.89% 85,599,925 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 $408 ($163,188 - $162,780).
MarketWatch Thursday 3/31/11 4:31 by Carla Mosee Conway says closed on a mixed note Thursday, but each of the equity benchmarks finished the first quarter of 2011 higher, notching their third consecutive quarter of gains. The Dow Jones Industrial Average (DJIA 12,320, -30.88, -0.25%) ended the daily session down 30.88 points, or 0.2%, at 12,319.73. Its 6.4% rise in the first quarter marked its best first-quarter performance since 1999. The S&P 500 Index (SPX 1,326, -2.43, -0.18%) ended the daily session down 2.4 points, or 0.2%, at 1,325.83. It rose 5.4% for the quarter. The Nasdaq Composite (COMP 2,781, +4.28, +0.15%) rose 4.28 points, or 0.2%, to 2,781.07 on Thursday, and recorded at 4.8% rise for the first three months of the year. (A news alert linked to this market pulse should have said the Dow posted its best first quarter since 1999.)
Thursday's Closing Dow Numbers:
AT&T T $30.61 -0.10 0.33% 106,958,191 NYSE
Alcoa AA $17.66 +0.02 0.11% 16,356,310 NYSE
American Express AXP $45.2 -0.71 1.55% 5,978,481 NYSE
Bank of Am BAC $13.33 -0.12 0.89% 85,599,925 NYSE
Boeing BA $73.93 +0.13 0.18% 4,185,187 NYSE
CAT $111.35 -0.18 0.16% 5,154,890 NYSE
Chev CVX $107.49 -0.52 0.48% 8,380,143 NYSE
CSCO $17.15 -0.18 1.04% 64,773,572 NASDAQ-GS
Coke KO $66.34 +0.30 0.45% 8,811,501 NYSE
DIS $43.09 -0.26 0.6% 7,184,345 NYSE
DuPon DD $54.97 -0.40 0.72% 5,148,772 NYSE
Exxon XOM $84.13 -0.36 0.43% 15,247,753 NYSE
GE $20.05 -0.06 0.3% 40,800,161 NYSE
Hewlett-Pac HPQ $40.97 -0.33 0.8% 15,885,038 NYSE
Home Dep HD $37.06 -0.51 1.36% 8,875,318 NYSE
Intel INTC $20.18 -0.28 1.37% 87,385,070 NASDAQ-GS
IBM $163.07 -0.53 0.32% 3,806,770 NYSE
JPMorg JPM $46.1 -0.35 0.75% 23,324,049 NYSE
JNJ $59.25 -0.13 0.22% 9,641,134 NYSE
KFT $31.36 -0.12 0.38% 10,127,549 NYSE
MCD $76.09 +0.28 0.37% 4,482,551 NYSE
MRK $33.01 -0.29 0.87% 12,566,703 NYSE
MSFT $25.39 -0.22 0.86% 63,098,918 NASDAQ-GS
Pfizer PFE $20.31 -0.0275 0.14% 40,688,005 NYSE
Proc & Gam PG $61.6 -0.37 0.6% 11,440,800 NYSE
3M MMM $93.5 +1.03 1.11% 3,190,283 NYSE
TRV $59.48 +0.09 0.15% 3,529,528 NYSE
United Tec UTX $84.65 +0.42 0.5% 3,555,255 NYSE
Verizon VZ $38.54 +0.08 0.21% 14,192,815 DualListed
WMT $52.05 -0.31 0.59% 10,879,504 NYSE
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The following are excerpts from Thursday morning's Blog.
A read of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg) 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 Tuesday's stock prices and related data.
Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 12,350.61 up 71.6 points or 0.58% from Tuesday's close of 12279.01. For the year the Dow is up 6.68%. Of the 30 Dow components 26 gained and 4 declined. The biggest gainer dollar-wise was Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE and percentage-wise was AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE. The biggest decliner dollar-wise was 3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE and percentage-wise was Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS.
WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. BValeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
NYT pB8 "Shares rise on job gains, extending S&P Rally" & USA Today p5B "Economic reports keep rally going" both by Bloomberg say stocks rose Wed extending the biggest 1st qtr rally in 13 years for the S&P 50 as a report showing firms added more workers in mar bolstered optimism about the economy.
Wednesday's Dow Jones Industrial Average closing numerator was 1,631.88 up 9.46 from Tuesday's closing numerator of 1,622.42. 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 $54.39 up 0.31 cents from Tuesday's average closing price of 54.08. The median closing price of Wednesday's Dow Jones Industrial Average was $46.18 (JPM/AXP) up 0.35 from Tuesday's median closing price of $45.83. The lowest volume was United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE and the highest volume was again Bank of America BAC $13.45 +0.10 0.75% 120,294,913 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 $946 ($163,188 - $162,242).
MarketWatch Wednesday 3/31/11 4:28 by Brendan Conway says telecommunications stocks led U.S. indexes higher Wednesday, as optimism over deal activity added to confidence that jobs data would continue pointing toward a strengthening labor market. The Dow Jones Industrial Average gained 71.60 points, or 0.58%, to finish at 12350.61, its eighth gain in 10 trading days and highest close in nearly six weeks. The measure was led by AT&T, which gained 2.2% after Chief Executive Randall Stephenson said he expects some divestitures as his company pursues a $39 billion buyout of T-Mobile USA from Deutsche Telekom. The Standard & Poor's 500-stock index closed 8.82 higher, or 0.67%, at 1328.26, also posting its eighth gain in 10 days. The Nasdaq Composite gained 19.90, or 0.72%, to 2776.79. The Russell 2000 small-capitalization index finished at its highest close of the year and its highest since Oct. 12, 2007, as it gained 10.88, or 1.31%, to 840.37. "The evidence continues to mount that the economy is in recovery mode," said Jack McPherson, portfolio manager at Eagle Small Cap Core Value Fund, noting that small-cap stocks tend to outperform their larger counterparts coming out of a recession. Investors taking their money out of fixed income to wade into stocks may also be boosting small-caps, he said. Still, at a time of global fragility, it is somewhat surprising that people are willing to invest in riskier assets, he said. With their lower cash reserves and higher volatility, small-cap stocks are generally considered riskier than their larger counterparts. "Given the geopolitical backdrop, given what's going on in Europe, you'd think aversion to risk might be higher," McPherson said. In other deal news, Valeant Pharmaceuticals made a $5.7 billion bid for biopharmaceutical group Cephalon. Valeant CEO J. Michael Pearson said on a conference call that he was open to giving a "bump" to the offer if the due-diligence process reveals more value. Cephalon's stock surged 28%, and Valeant's rose 13%. Investors said the market was also looking ahead with more confidence to Friday's key government jobs report, following encouraging data Wednesday morning. Automatic Data Processing said U.S. private-sector payrolls increased by 201,000 jobs in March, just below the expected 205,000. Half the gains in the ADP report came from small businesses. The figure was "consistent with a gradual if uneven decline in the employment rate," the report said. "The market's showing its hand very clearly here: They want this number Friday to be through the roof," plus revisions to previous figures, Todd Colvin, vice president at MF Global said. "The jobs number is really what's driving the trade here." Among stocks in focus, Visa added 2.8% and Mastercard gained 0.8% as expectations grew that rules limiting debit-card swipe fees will be delayed. Federal Reserve Chairman Ben Bernanke sent a letter to Congress on Tuesday acknowledging the Fed was unlikely to meet an April 21 deadline to set final rules for the fees. Mattress maker Sealy sank 3.6% after swinging to a fiscal first-quarter loss, missing expectations. The company also reported lower sales volumes and prices on Posturepedic products ahead of the launch of a new line. Oxford Industries jumped 34% after the apparel company's fiscal fourth-quarter earnings rose sharply. The company also announced an 18% increase to its quarterly dividend. BlackRock is slated to replace Genzyme in the S&P 500 index, as the biotechnology company is set to be acquired, Standard & Poor's said Tuesday. Shares in the money manager, the world's biggest, rose 6.6%. Salesforce.com rose 7.09, or 5.6%, to 134.49, after agreeing to buy monitoring firm Radian6 for about $326 million in stock and cash in its largest deal ever. MicroStrategy Inc. added 8.7% after saying it has been selected by Groupon to analyze the company's daily deals, examining the types of goods and services purchased, discounts offered, locations and purchaser demographics. Jos. A. Bank Clothiers added 3.8% after the retailer's fiscal fourth-quarter profit climbed 15%, topping Wall Street's views, as sales and margins rose. Acxiom plunged 23% after saying its chief executive and chief financial offers are resigning. The marketing data company also announced plans to write down the value of its international business and projected disappointing current-quarter earnings below analysts' estimates. Dow Chemical added 0.1% after its chairman and chief executive, Andrew Liveris, paid back the specialty chemical company about $720,000 for personal expenses it mistakenly failed to bill him.
Wednesday's Closing Dow Numbers and Thursday's News:
AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE: WSJ pB5 "AT&T sees some trade offs" by Roger Cheng, Fin Times p18 "AT&T chief defends T-Mobile tie up" by Paul Taylor, WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway say stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Alcoa AA $17.64 +0.15 0.86% 23,274,590 NYSE: No mentions found.
Amex AXP $45.91 +0.26 0.57% 5,507,757 NYSE: No mentions found.
Bank of America BAC $13.45 +0.10 0.75% 120,294,913 NYSE: WSJ pC2 "Reynolds joins BofA" by David Benoit says Craig Reynolds is leaving Goldman Sachs to head Bof A's N. Amer. interest rate trading operation.
AJC pA18 "BofA CEO received 79% drop in pay" says Brian Moynihan received '10 comp of $1.25 mil a drop of 79% from '09.
Boeing BA $73.8 +0.18 0.24% 3,860,788 NYSE: No mentions found.
Caterpillar CAT $111.53 +0.99 0.9% 5,602,133 NYSE: No mentions found.
Chevron CVX $108.01 +0.64 0.6% 7,838,256 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS: No mentions found.
Coke KO $66.04 +0.32 0.49% 9,361,660 NYSE: No mentions found.
Disney DIS $43.35 +0.41 0.95% 6,978,417 NYSE: WSJ pC12 "High growth media search leads to Google" by Martin Peers says Google is a growth stock & should be rading at more than 15.4 times expected '11 earnings. It compares Disney trading at 16.4 expected '11 earnings & Microsoft, a big, slow moving behemoth that generates lots of cash is trading like Google.
DuPont DD $55.37 +0.78 1.43% 6,311,759 NYSE: Fin Times p17 "DuPont delays bid deadline" by Andrew Ward says DuPont has given Danisco shareholders another 4 weeks to decide on its $6 bil bid for the Danish food & enzyme maker amid dbouts over its chances of copleting the acquisition as only 6% of the Danisco shares have been tendered.
Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
GE $20.11 +0.25 1.26% 46,810,093 NYSE: Fin times p9 "Electric avenues" by Ed Crooks, Jeremy Lemer is a full page analysis of GE saying under CEO Jeff Imelt, GE has performed below par for nearly a decade & calls for a break up are on the rise but he is making a big bet on fresh growth.
Hewlett-Packard HPQ $41.3 -0.19 0.46% 17,313,816 NYSE: No mentions found.
Home Depot HD $37.57 -0.13 0.34% 7,718,615 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Intel INTC $20.46 +0.18 0.89% 54,358,709 NASDAQ-GS: No mentions found.
IBM $163.6 +0.72 0.44% 3,382,636 NYSE: Fin Times p15 "Microsoft's Allen tells of Gates' rip of plan" by Richard Waters says Paul Allen, Microsoft's co-founder has published a tell all memoir and there is a photo of him and bill Gates after signing a contract with IBM in '81.
JPMorgan JPM $46.45 +0.43 0.93% 26,725,277 NYSE: Fin Times p1 "Dimon warns of bank nail in coffin" by Tom Braithwaite says JPM CEO jamie Dimon attached fin'l regulation saying new capital rules would be the nail in our coffin for big US banks. Side Story "US groups rediscover appetitie for M&A" by Helen Thomas says JPMOrgan will be the No. 1 global M&A banker for the first time since '04.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Johnson & Johnson JNJ $59.38 +0.16 0.27% 10,689,047 NYSE: WSJ pB3 "J&J to reorganize unit after recalls" by Jon rockoff says JNJ will revamp its McNeil Consumer Healthcare unit that makes Tylenol and will give it new leadership to fix the problems that has resulted in various recalls.
KFT $31.48 +0.21 0.67% 6,525,868 NYSE: No mentions found.
McDonalds MCD $75.81 +0.44 0.58% 3,463,125 NYSE: WSJ pB3 "McDonald's boosts Japan imports" by Dana Matioli says MCD has boosted imports to Japan to counter supply chain disruptions and damage from the earthquake.
Merck MRK $33.3 +0.52 1.59% 17,212,260 NYSE: Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Microsoft MSFT $25.61 +0.12 0.47% 36,327,581 NASDAQ-GS: NYT pB1 "Antitrust cry from Microsoft" by Steve Lohr says Microsoft will file an antitrust complaint in Brussels against Google sayings its search engine unfairly promotes its own products.
WSJ pC12 "High growth media search leads to Google" by Martin Peers says Google is a growth stock & should be trading at more than 15.4 times expected '11 earnings. It compares Disney trading at 16.4 expected '11 earnings & Microsoft, a big, slow moving behemoth that generates lots of cash is trading like Google.
WSJ pA1 "Broken windows at Microsoft" byRobert A. Guth, Nick Wingfield, NYT pB1 "Residual regrets in a Microsoft partnership" by Miquel Helft, Fin Times p15 "Microsoft's Allen tells of Gates' rip of plan" by Richard Waters say Paul Allen, Microsoft's co-founder has published a tell all memoir and there is a photo of him and bill Gates after signing a contract with IBM in '81.
WSJ pB5 "Microsoft loses exec" by Seve Jones says MSFT's head of marketing, Mich Matthews will retire, the 5th high profile exec to leave in the past 2 years.
Pfizer PFE $20.3375 +0.0425 0.21% 38,028,608 NYSE: No mentions found.
Procter & Gamble PG $61.97 +0.69 1.13% 7,554,700 NYSE: No mentions found.
3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE: No mentions found.
TRV $59.39 +0.13 0.22% 3,788,843 NYSE: No mentions found.
United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE: No mentions found.
Verizon VZ $38.46 +0.17 0.44% 25,582,545 DualListed: USA Today p4B "Verizon HTC ThunderBolt zips with wicked fast 4G speed" by Ed Baig says the $249.99 device sells with a 2 year contract and is a powerful, sturdy, fast smartphone with nice, large screen but 4G isn't ubiquitous and battery life is only fair and it is large & heavy.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Walmart WMT $52.36 +0.10 0.19% 8,564,290 NYSE: USA Today p2B "Walmart plans return to its one stop roots" by Jayne O'Donnell says WMT's US CEO Bill Simon says it needs to get back to its roots as the lowest priced one stop shop for consumers and cutting back on products was a mistake. Walmart has had 7 straight quarters of sales declines in the US.
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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. (Chicago, 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 as of 3/21/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $401 [5]
2. Procter & Gamble PG 243 [4]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 207 [2]
5. GE 204 [10.5]
6. IBM 190 [1]
7. WalMart WMT 184 [3.5]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 165 [6]
10. Pfizer PFE 161 [8]
11. Johnson & Johnson JNJ 160 [3]
12. Coke KO 144 [2.5]
13. Bank of America BAC 142 [10]
14. Intel INTC 111 [5.5]
15. Verizon VZ 101 [3]
16. Merck MRK 98 [3]
17. Cisco CSCO 95 [5.5]
18. Hewlett-Packard HPQ 89 [2]
19. Disney DIS 78 [2]
20. McDonald's MCD 76 [1]
21. United Technologies UTX 74 [1]
22. Caterpillar CAT 67 [.5]
23. 3M MMM 63 [.5]
24. Home Depot HD 59 [1.5]
25. Kraft KFT 54 [2]
26. American Express AXP 53 [1]
27. Boeing BA 51 [1]
28. DuPont DD 49 [1]
29. Travelers TRV 25 [.5]
30. Alcoa AA 17 [1]
Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 3/21/11:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 3/10/11 Proxy Statement re: Annual Meeting of Stockholders to be held on 4/29/11 in Little Rock, Ark
3/7/11 8K re; departure of Richard G. Lindner as CFO to be replaced by John T. Stephens
3/1/11 10K re: Fiscal year ended 12/31/10
Alcoa AA: 3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA
2/17/11 10K re: Fiscal year ended 12/31/10
2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan
American Express AXP: 3/18/11 8K re: Reg. FD disclosures re: its Comprehensive Capital Plan re: share repurchases & dividends
3/15/11 8K re: delinquency & write-off statistics for 3 months ended 2/28/11
3/4/11 Prelim Proxy Statement re: Shareholder Meeting to be held 5/2/11 in NYC
2/2811 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: delinquency & write0off statistics for 3 months ended 1/31/11
1/18/11 8K re: comp to CEO Chanault
Bank of Am BAC: 3/17/11 8K re: issuance of $1.5 bil of 3.625% of Senior Notes due 2016
3/16/11 8K re: election of Mukesh D. Ambani to Board of Directors & Compensation & Benefit Committee & Audit Committee
1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results
Boeing BA: 3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago
2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama
Caterpiller CAT: 3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics
2/22/11 10K re: Fiscal year ended 12/31/10
2/18/11 8K re: dealer statistics for January
Chevron CVX:
2/24/11 10K re: Fiscal year ended 12/31/10
2/1/11 8K re: compensation to officers including CEO John Watson
Cisco CSCO 3/18/11 8K re: initiation of quarterly cash dividends of 6 cents per share to be paid 4/20
3/16 & 3/15 8Ks re: issuance of debt securities
3/9/11 8K re: recasting of fin'l stmts due to combining Asia Pacific & Japan operations
2/23/11 8K re: election of Gary B. Moore as COO
2/23/11 10Q re: Quarter ended 1/29/11
Coke KO 3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta
2/28/11 10K re: Fiscal year ended 12/31/10
2/17/11 8K re: election of Evan G. Greenberg to Board of Directors & Audit Comm.
2/17/11 8K re: Amendment of Stock Option Plan
Disney DIS 3/18/11 two 8Ks re: amendment to employment Agreement of CEO Robert A. Iger & other execs.
3/2/11 Proxy Materials re: shareholder proposal re: exec compensation
2/25/11 8K re: $2.25 bil 4 year Credit Agreement
2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual shareholder meeting to be held 3/23/11 at Salt Lake City, Utah
DuPont DD: 3/18/11 Proxy re: Annual Stockholders Meeting to be held on 4/27/11 in Wilmington, DE
3/8/11 8K re: retirement of Samuel W. Bodman & John T. Dillon from Board of Directors due to reaching age 72
2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP
ExxonMobil XOM: 3/15/11 8K re: results of operations presentation at analyst meeting
2/28 10K/A & 2/25 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: FD Disclosure re: worldwide proved oil and gas reserve
GE: 3/14/11 Proxy re: Annual Shareholders Meeting on 4/27/11 in Salt Lake City, Utah
2/25/11 10K re: Fiscal year ended 12/31/10
2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal
Hewlett-Packard HPQ: 3/11/11 Proxy Materials re: opposition to ISS voting recommendations re: exec comp.
3/11/11 & *k 2/22/11 re: Quarter ended 1/31/11
2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors
Home Depot HD: 3/2/11 8K re: approval of Stock Option Plan
2/22/11 8K re: fin'l results of fiscal year & quarter ended 1/30/11
1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada
Intel INTC: 2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10
IBM: 3/18/11 8K re: settlement with SEC of bribery charges in Asia for $10 mil
3/8/11 8K re: FD disclosure re: presentation at investor briefing
3/7/11 Proxy rel Annual Stockholders Meeting on 4/26 in St. Louis, Mo.
2/22/11 10K re: Fiscal year ended 12/31/10
JPMorganChase JPM: 2/28/11 10K re: fiscal year ended 12/31/10
2/24/11 8K re: clsoing of public offering of $3 bil of 3.45% Notes due 2016
Johnson & Johnson JNJ : 3/16/11 Proxy re: Annual Shareholders Meeting on 4/28 in New Brunswick, NJ
3/10/11 8K re: Entering into a consent decree with the FDA regarding its oversight of JNJ's McNeil Unit plants in Puerto Rico and Pennslyvania
2/25/11 10 K e: fiscal year ended 1/2/11
Kraft KFT: 3/14/11 8K re: departure of CFO timothy R. McLevish to be replaced by David A. Brearton
2/28/11 10K re: Fiscal year ended 12/31/10
2/22/11 8K re: FD disclosure re: presentation at Consumer Analyst Group of NY
McDonalds MCD: 3/9/11 8K re: FD disclosure re: comparable sales rising 3.9% in Feb.
3/3/11 Proxy re: Annual Meeting of Shareholders on 5/19/11 at Oak Brook, Ill.
2/25/11 10K re: fiscal year ended 12/31/10
2/8/11 8K re: Jan 2011 global sales
Merck MRK: 2/28/11 10K re: Fiscal year ended 12/31/10
Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10
Pfizer PFE: 2/28/11 10K re: fiscal year ended 12/31/10
Procter & Gamble PG: 3/1/11 8K re: resignation of Rajat KJ. Gupta from Board of Directors
2/11/11 8K re: election of Meg Whitman to Board of Directors
3M MMM: 3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline
2/16/11 10K re: Fiscal year ended 12/31/10
2/16/11 & 2/15/11 four 8Ks re: adoption by four executives of pre-arranged trading programs
Travelers TRV: 2/17/11 10K re: Fiscal year ended 12/31/10
1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q
United Technologies UTX: 2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ
2/10/11 10K for FY 12/31/10
Verizon Communications Inc. VZ: 3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)
2/28/11 10K re: fiscal year ended 12/31/10
2/3/11 8K re: increase to stock repurchase program
WalMart WMT: 2/22/11 8K re: revising fin'l info for prior operating results
Thursday, March 31, 2011
3/31/11 Thurs. am DuPont Extends Bid Deadline for Danisco; Paul Allen's Memoirs Out
www.DowJonesMonitor.com
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Post No. 944 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 components' SEC filings as of March 21, 2011.
A read of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg) 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 Tuesday's stock prices and related data.
Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 12,350.61 up 71.6 points or 0.58% from Tuesday's close of 12279.01. For the year the Dow is up 6.68%. Of the 30 Dow components 26 gained and 4 declined. The biggest gainer dollar-wise was Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE and percentage-wise was AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE. The biggest decliner dollar-wise was 3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE and percentage-wise was Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS.
WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. BValeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
NYT pB8 "Shares rise on job gains, extending S&P Rally" & USA Today p5B "Economic reports keep rally going" both by Bloomberg say stocks rose Wed extending the biggest 1st qtr rally in 13 years for the S&P 50 as a report showing firms added more workers in mar bolstered optimism about the economy.
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 15.01 up from yesterday's trailing P/E of 14.92 (year ago it was 16.93); the P/E estimate is 12.63 unchanged from yesterday's P/E estimate of 12.63 (year ago it was 13.85), and the dividend yield is 2.37 down from yesterday's dividend yield of 2.38 (last year it was 2.51). 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 1,631.88 up 9.46 from Tuesday's closing numerator of 1,622.42. 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 $54.39 up 0.31 cents from Tuesday's average closing price of 54.08. The median closing price of Wednesday's Dow Jones Industrial Average was $46.18 (JPM/AXP) up 0.35 from Tuesday's median closing price of $45.83. The lowest volume was United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE and the highest volume was again Bank of America BAC $13.45 +0.10 0.75% 120,294,913 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 $946 ($163,188 - $162,242).
MarketWatch Wednesday 3/31/11 4:28 by Brendan Conway says telecommunications stocks led U.S. indexes higher Wednesday, as optimism over deal activity added to confidence that jobs data would continue pointing toward a strengthening labor market. The Dow Jones Industrial Average gained 71.60 points, or 0.58%, to finish at 12350.61, its eighth gain in 10 trading days and highest close in nearly six weeks. The measure was led by AT&T, which gained 2.2% after Chief Executive Randall Stephenson said he expects some divestitures as his company pursues a $39 billion buyout of T-Mobile USA from Deutsche Telekom. The Standard & Poor's 500-stock index closed 8.82 higher, or 0.67%, at 1328.26, also posting its eighth gain in 10 days. The Nasdaq Composite gained 19.90, or 0.72%, to 2776.79. The Russell 2000 small-capitalization index finished at its highest close of the year and its highest since Oct. 12, 2007, as it gained 10.88, or 1.31%, to 840.37. "The evidence continues to mount that the economy is in recovery mode," said Jack McPherson, portfolio manager at Eagle Small Cap Core Value Fund, noting that small-cap stocks tend to outperform their larger counterparts coming out of a recession. Investors taking their money out of fixed income to wade into stocks may also be boosting small-caps, he said. Still, at a time of global fragility, it is somewhat surprising that people are willing to invest in riskier assets, he said. With their lower cash reserves and higher volatility, small-cap stocks are generally considered riskier than their larger counterparts. "Given the geopolitical backdrop, given what's going on in Europe, you'd think aversion to risk might be higher," McPherson said. In other deal news, Valeant Pharmaceuticals made a $5.7 billion bid for biopharmaceutical group Cephalon. Valeant CEO J. Michael Pearson said on a conference call that he was open to giving a "bump" to the offer if the due-diligence process reveals more value. Cephalon's stock surged 28%, and Valeant's rose 13%. Investors said the market was also looking ahead with more confidence to Friday's key government jobs report, following encouraging data Wednesday morning. Automatic Data Processing said U.S. private-sector payrolls increased by 201,000 jobs in March, just below the expected 205,000. Half the gains in the ADP report came from small businesses. The figure was "consistent with a gradual if uneven decline in the employment rate," the report said. "The market's showing its hand very clearly here: They want this number Friday to be through the roof," plus revisions to previous figures, Todd Colvin, vice president at MF Global said. "The jobs number is really what's driving the trade here." Among stocks in focus, Visa added 2.8% and Mastercard gained 0.8% as expectations grew that rules limiting debit-card swipe fees will be delayed. Federal Reserve Chairman Ben Bernanke sent a letter to Congress on Tuesday acknowledging the Fed was unlikely to meet an April 21 deadline to set final rules for the fees. Mattress maker Sealy sank 3.6% after swinging to a fiscal first-quarter loss, missing expectations. The company also reported lower sales volumes and prices on Posturepedic products ahead of the launch of a new line. Oxford Industries jumped 34% after the apparel company's fiscal fourth-quarter earnings rose sharply. The company also announced an 18% increase to its quarterly dividend. BlackRock is slated to replace Genzyme in the S&P 500 index, as the biotechnology company is set to be acquired, Standard & Poor's said Tuesday. Shares in the money manager, the world's biggest, rose 6.6%. Salesforce.com rose 7.09, or 5.6%, to 134.49, after agreeing to buy monitoring firm Radian6 for about $326 million in stock and cash in its largest deal ever. MicroStrategy Inc. added 8.7% after saying it has been selected by Groupon to analyze the company's daily deals, examining the types of goods and services purchased, discounts offered, locations and purchaser demographics. Jos. A. Bank Clothiers added 3.8% after the retailer's fiscal fourth-quarter profit climbed 15%, topping Wall Street's views, as sales and margins rose. Acxiom plunged 23% after saying its chief executive and chief financial offers are resigning. The marketing data company also announced plans to write down the value of its international business and projected disappointing current-quarter earnings below analysts' estimates. Dow Chemical added 0.1% after its chairman and chief executive, Andrew Liveris, paid back the specialty chemical company about $720,000 for personal expenses it mistakenly failed to bill him.
Wednesday's Closing Dow Numbers and Thursday's News:
AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE: WSJ pB5 "AT&T sees some trade offs" by Roger Cheng, Fin Times p18 "AT&T chief defends T-Mobile tie up" by Paul Taylor, WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway say stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Alcoa AA $17.64 +0.15 0.86% 23,274,590 NYSE: No mentions found.
Amex AXP $45.91 +0.26 0.57% 5,507,757 NYSE: No mentions found.
Bank of America BAC $13.45 +0.10 0.75% 120,294,913 NYSE: WSJ pC2 "Reynolds joins BofA" by David Benoit says Craig Reynolds is leaving Goldman Sachs to head Bof A's N. Amer. interest rate trading operation.
AJC pA18 "BofA CEO received 79% drop in pay" says Brian Moynihan received '10 comp of $1.25 mil a drop of 79% from '09.
Boeing BA $73.8 +0.18 0.24% 3,860,788 NYSE: No mentions found.
Caterpillar CAT $111.53 +0.99 0.9% 5,602,133 NYSE: No mentions found.
Chevron CVX $108.01 +0.64 0.6% 7,838,256 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS: No mentions found.
Coke KO $66.04 +0.32 0.49% 9,361,660 NYSE: No mentions found.
Disney DIS $43.35 +0.41 0.95% 6,978,417 NYSE: WSJ pC12 "High growth media search leads to Google" by Martin Peers says Google is a growth stock & should be rading at more than 15.4 times expected '11 earnings. It compares Disney trading at 16.4 expected '11 earnings & Microsoft, a big, slow moving behemoth that generates lots of cash is trading like Google.
DuPont DD $55.37 +0.78 1.43% 6,311,759 NYSE: Fin Times p17 "DuPont delays bid deadline" by Andrew Ward says DuPont has given Danisco shareholders another 4 weeks to decide on its $6 bil bid for the Danish food & enzyme maker amid dbouts over its chances of copleting the acquisition as only 6% of the Danisco shares have been tendered.
Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
GE $20.11 +0.25 1.26% 46,810,093 NYSE: Fin times p9 "Electric avenues" by Ed Crooks, Jeremy Lemer is a full page analysis of GE saying under CEO Jeff Imelt, GE has performed below par for nearly a decade & calls for a break up are on the rise but he is making a big bet on fresh growth.
Hewlett-Packard HPQ $41.3 -0.19 0.46% 17,313,816 NYSE: No mentions found.
Home Depot HD $37.57 -0.13 0.34% 7,718,615 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Intel INTC $20.46 +0.18 0.89% 54,358,709 NASDAQ-GS: No mentions found.
IBM $163.6 +0.72 0.44% 3,382,636 NYSE: Fin Times p15 "Microsoft's Allen tells of Gates' rip of plan" by Richard Waters says Paul Allen, Microsoft's co-founder has published a tell all memoir and there is a photo of him and bill Gates after signing a contract with IBM in '81.
JPMorgan JPM $46.45 +0.43 0.93% 26,725,277 NYSE: Fin Times p1 "Dimon warns of bank nail in coffin" by Tom Braithwaite says JPM CEO jamie Dimon attached fin'l regulation saying new capital rules would be the nail in our coffin for big US banks. Side Story "US groups rediscover appetitie for M&A" by Helen Thomas says JPMOrgan will be the No. 1 global M&A banker for the first time since '04.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Johnson & Johnson JNJ $59.38 +0.16 0.27% 10,689,047 NYSE: WSJ pB3 "J&J to reorganize unit after recalls" by Jon rockoff says JNJ will revamp its McNeil Consumer Healthcare unit that makes Tylenol and will give it new leadership to fix the problems that has resulted in various recalls.
KFT $31.48 +0.21 0.67% 6,525,868 NYSE: No mentions found.
McDonalds MCD $75.81 +0.44 0.58% 3,463,125 NYSE: WSJ pB3 "McDonald's boosts Japan imports" by Dana Matioli says MCD has boosted imports to Japan to counter supply chain disruptions and damage from the earthquake.
Merck MRK $33.3 +0.52 1.59% 17,212,260 NYSE: Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Microsoft MSFT $25.61 +0.12 0.47% 36,327,581 NASDAQ-GS: NYT pB1 "Antitrust cry from Microsoft" by Steve Lohr says Microsoft will file an antitrust complaint in Brussels against Google sayings its search engine unfairly promotes its own products.
WSJ pC12 "High growth media search leads to Google" by Martin Peers says Google is a growth stock & should be trading at more than 15.4 times expected '11 earnings. It compares Disney trading at 16.4 expected '11 earnings & Microsoft, a big, slow moving behemoth that generates lots of cash is trading like Google.
WSJ pA1 "Broken windows at Microsoft" byRobert A. Guth, Nick Wingfield, NYT pB1 "Residual regrets in a Microsoft partnership" by Miquel Helft, Fin Times p15 "Microsoft's Allen tells of Gates' rip of plan" by Richard Waters say Paul Allen, Microsoft's co-founder has published a tell all memoir and there is a photo of him and bill Gates after signing a contract with IBM in '81.
WSJ pB5 "Microsoft loses exec" by Seve Jones says MSFT's head of marketing, Mich Matthews will retire, the 5th high profile exec to leave in the past 2 years.
Pfizer PFE $20.3375 +0.0425 0.21% 38,028,608 NYSE: No mentions found.
Procter & Gamble PG $61.97 +0.69 1.13% 7,554,700 NYSE: No mentions found.
3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE: No mentions found.
TRV $59.39 +0.13 0.22% 3,788,843 NYSE: No mentions found.
United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE: No mentions found.
Verizon VZ $38.46 +0.17 0.44% 25,582,545 DualListed: USA Today p4B "Verizon HTC ThunderBolt zips with wicked fast 4G speed" by Ed Baig says the $249.99 device sells with a 2 year contract and is a powerful, sturdy, fast smartphone with nice, large screen but 4G isn't ubiquitous and battery life is only fair and it is large & heavy.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Walmart WMT $52.36 +0.10 0.19% 8,564,290 NYSE: USA Today p2B "Walmart plans return to its one stop roots" by Jayne O'Donnell says WMT's US CEO Bill Simon says it needs to get back to its roots as the lowest priced one stop shop for consumers and cutting back on products was a mistake. Walmart has had 7 straight quarters of sales declines in the US.
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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. (Chicago, 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 as of 3/21/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $401 [5]
2. Procter & Gamble PG 243 [4]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 207 [2]
5. GE 204 [10.5]
6. IBM 190 [1]
7. WalMart WMT 184 [3.5]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 165 [6]
10. Pfizer PFE 161 [8]
11. Johnson & Johnson JNJ 160 [3]
12. Coke KO 144 [2.5]
13. Bank of America BAC 142 [10]
14. Intel INTC 111 [5.5]
15. Verizon VZ 101 [3]
16. Merck MRK 98 [3]
17. Cisco CSCO 95 [5.5]
18. Hewlett-Packard HPQ 89 [2]
19. Disney DIS 78 [2]
20. McDonald's MCD 76 [1]
21. United Technologies UTX 74 [1]
22. Caterpillar CAT 67 [.5]
23. 3M MMM 63 [.5]
24. Home Depot HD 59 [1.5]
25. Kraft KFT 54 [2]
26. American Express AXP 53 [1]
27. Boeing BA 51 [1]
28. DuPont DD 49 [1]
29. Travelers TRV 25 [.5]
30. Alcoa AA 17 [1]
Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 3/21/11:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 3/10/11 Proxy Statement re: Annual Meeting of Stockholders to be held on 4/29/11 in Little Rock, Ark
3/7/11 8K re; departure of Richard G. Lindner as CFO to be replaced by John T. Stephens
3/1/11 10K re: Fiscal year ended 12/31/10
Alcoa AA: 3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA
2/17/11 10K re: Fiscal year ended 12/31/10
2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan
American Express AXP: 3/18/11 8K re: Reg. FD disclosures re: its Comprehensive Capital Plan re: share repurchases & dividends
3/15/11 8K re: delinquency & write-off statistics for 3 months ended 2/28/11
3/4/11 Prelim Proxy Statement re: Shareholder Meeting to be held 5/2/11 in NYC
2/2811 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: delinquency & write0off statistics for 3 months ended 1/31/11
1/18/11 8K re: comp to CEO Chanault
Bank of Am BAC: 3/17/11 8K re: issuance of $1.5 bil of 3.625% of Senior Notes due 2016
3/16/11 8K re: election of Mukesh D. Ambani to Board of Directors & Compensation & Benefit Committee & Audit Committee
1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results
Boeing BA: 3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago
2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama
Caterpiller CAT: 3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics
2/22/11 10K re: Fiscal year ended 12/31/10
2/18/11 8K re: dealer statistics for January
Chevron CVX:
2/24/11 10K re: Fiscal year ended 12/31/10
2/1/11 8K re: compensation to officers including CEO John Watson
Cisco CSCO 3/18/11 8K re: initiation of quarterly cash dividends of 6 cents per share to be paid 4/20
3/16 & 3/15 8Ks re: issuance of debt securities
3/9/11 8K re: recasting of fin'l stmts due to combining Asia Pacific & Japan operations
2/23/11 8K re: election of Gary B. Moore as COO
2/23/11 10Q re: Quarter ended 1/29/11
Coke KO 3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta
2/28/11 10K re: Fiscal year ended 12/31/10
2/17/11 8K re: election of Evan G. Greenberg to Board of Directors & Audit Comm.
2/17/11 8K re: Amendment of Stock Option Plan
Disney DIS 3/18/11 two 8Ks re: amendment to employment Agreement of CEO Robert A. Iger & other execs.
3/2/11 Proxy Materials re: shareholder proposal re: exec compensation
2/25/11 8K re: $2.25 bil 4 year Credit Agreement
2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual shareholder meeting to be held 3/23/11 at Salt Lake City, Utah
DuPont DD: 3/18/11 Proxy re: Annual Stockholders Meeting to be held on 4/27/11 in Wilmington, DE
3/8/11 8K re: retirement of Samuel W. Bodman & John T. Dillon from Board of Directors due to reaching age 72
2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP
ExxonMobil XOM: 3/15/11 8K re: results of operations presentation at analyst meeting
2/28 10K/A & 2/25 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: FD Disclosure re: worldwide proved oil and gas reserve
GE: 3/14/11 Proxy re: Annual Shareholders Meeting on 4/27/11 in Salt Lake City, Utah
2/25/11 10K re: Fiscal year ended 12/31/10
2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal
Hewlett-Packard HPQ: 3/11/11 Proxy Materials re: opposition to ISS voting recommendations re: exec comp.
3/11/11 & *k 2/22/11 re: Quarter ended 1/31/11
2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors
Home Depot HD: 3/2/11 8K re: approval of Stock Option Plan
2/22/11 8K re: fin'l results of fiscal year & quarter ended 1/30/11
1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada
Intel INTC: 2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10
IBM: 3/18/11 8K re: settlement with SEC of bribery charges in Asia for $10 mil
3/8/11 8K re: FD disclosure re: presentation at investor briefing
3/7/11 Proxy rel Annual Stockholders Meeting on 4/26 in St. Louis, Mo.
2/22/11 10K re: Fiscal year ended 12/31/10
JPMorganChase JPM: 2/28/11 10K re: fiscal year ended 12/31/10
2/24/11 8K re: clsoing of public offering of $3 bil of 3.45% Notes due 2016
Johnson & Johnson JNJ : 3/16/11 Proxy re: Annual Shareholders Meeting on 4/28 in New Brunswick, NJ
3/10/11 8K re: Entering into a consent decree with the FDA regarding its oversight of JNJ's McNeil Unit plants in Puerto Rico and Pennslyvania
2/25/11 10 K e: fiscal year ended 1/2/11
Kraft KFT: 3/14/11 8K re: departure of CFO timothy R. McLevish to be replaced by David A. Brearton
2/28/11 10K re: Fiscal year ended 12/31/10
2/22/11 8K re: FD disclosure re: presentation at Consumer Analyst Group of NY
McDonalds MCD: 3/9/11 8K re: FD disclosure re: comparable sales rising 3.9% in Feb.
3/3/11 Proxy re: Annual Meeting of Shareholders on 5/19/11 at Oak Brook, Ill.
2/25/11 10K re: fiscal year ended 12/31/10
2/8/11 8K re: Jan 2011 global sales
Merck MRK: 2/28/11 10K re: Fiscal year ended 12/31/10
Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10
Pfizer PFE: 2/28/11 10K re: fiscal year ended 12/31/10
Procter & Gamble PG: 3/1/11 8K re: resignation of Rajat KJ. Gupta from Board of Directors
2/11/11 8K re: election of Meg Whitman to Board of Directors
3M MMM: 3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline
2/16/11 10K re: Fiscal year ended 12/31/10
2/16/11 & 2/15/11 four 8Ks re: adoption by four executives of pre-arranged trading programs
Travelers TRV: 2/17/11 10K re: Fiscal year ended 12/31/10
1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q
United Technologies UTX: 2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ
2/10/11 10K for FY 12/31/10
Verizon Communications Inc. VZ: 3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)
2/28/11 10K re: fiscal year ended 12/31/10
2/3/11 8K re: increase to stock repurchase program
WalMart WMT: 2/22/11 8K re: revising fin'l info for prior operating results
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 944 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 components' SEC filings as of March 21, 2011.
A read of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg) 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 Tuesday's stock prices and related data.
Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 12,350.61 up 71.6 points or 0.58% from Tuesday's close of 12279.01. For the year the Dow is up 6.68%. Of the 30 Dow components 26 gained and 4 declined. The biggest gainer dollar-wise was Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE and percentage-wise was AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE. The biggest decliner dollar-wise was 3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE and percentage-wise was Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS.
WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. BValeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
NYT pB8 "Shares rise on job gains, extending S&P Rally" & USA Today p5B "Economic reports keep rally going" both by Bloomberg say stocks rose Wed extending the biggest 1st qtr rally in 13 years for the S&P 50 as a report showing firms added more workers in mar bolstered optimism about the economy.
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 15.01 up from yesterday's trailing P/E of 14.92 (year ago it was 16.93); the P/E estimate is 12.63 unchanged from yesterday's P/E estimate of 12.63 (year ago it was 13.85), and the dividend yield is 2.37 down from yesterday's dividend yield of 2.38 (last year it was 2.51). 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 1,631.88 up 9.46 from Tuesday's closing numerator of 1,622.42. 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 $54.39 up 0.31 cents from Tuesday's average closing price of 54.08. The median closing price of Wednesday's Dow Jones Industrial Average was $46.18 (JPM/AXP) up 0.35 from Tuesday's median closing price of $45.83. The lowest volume was United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE and the highest volume was again Bank of America BAC $13.45 +0.10 0.75% 120,294,913 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 $946 ($163,188 - $162,242).
MarketWatch Wednesday 3/31/11 4:28 by Brendan Conway says telecommunications stocks led U.S. indexes higher Wednesday, as optimism over deal activity added to confidence that jobs data would continue pointing toward a strengthening labor market. The Dow Jones Industrial Average gained 71.60 points, or 0.58%, to finish at 12350.61, its eighth gain in 10 trading days and highest close in nearly six weeks. The measure was led by AT&T, which gained 2.2% after Chief Executive Randall Stephenson said he expects some divestitures as his company pursues a $39 billion buyout of T-Mobile USA from Deutsche Telekom. The Standard & Poor's 500-stock index closed 8.82 higher, or 0.67%, at 1328.26, also posting its eighth gain in 10 days. The Nasdaq Composite gained 19.90, or 0.72%, to 2776.79. The Russell 2000 small-capitalization index finished at its highest close of the year and its highest since Oct. 12, 2007, as it gained 10.88, or 1.31%, to 840.37. "The evidence continues to mount that the economy is in recovery mode," said Jack McPherson, portfolio manager at Eagle Small Cap Core Value Fund, noting that small-cap stocks tend to outperform their larger counterparts coming out of a recession. Investors taking their money out of fixed income to wade into stocks may also be boosting small-caps, he said. Still, at a time of global fragility, it is somewhat surprising that people are willing to invest in riskier assets, he said. With their lower cash reserves and higher volatility, small-cap stocks are generally considered riskier than their larger counterparts. "Given the geopolitical backdrop, given what's going on in Europe, you'd think aversion to risk might be higher," McPherson said. In other deal news, Valeant Pharmaceuticals made a $5.7 billion bid for biopharmaceutical group Cephalon. Valeant CEO J. Michael Pearson said on a conference call that he was open to giving a "bump" to the offer if the due-diligence process reveals more value. Cephalon's stock surged 28%, and Valeant's rose 13%. Investors said the market was also looking ahead with more confidence to Friday's key government jobs report, following encouraging data Wednesday morning. Automatic Data Processing said U.S. private-sector payrolls increased by 201,000 jobs in March, just below the expected 205,000. Half the gains in the ADP report came from small businesses. The figure was "consistent with a gradual if uneven decline in the employment rate," the report said. "The market's showing its hand very clearly here: They want this number Friday to be through the roof," plus revisions to previous figures, Todd Colvin, vice president at MF Global said. "The jobs number is really what's driving the trade here." Among stocks in focus, Visa added 2.8% and Mastercard gained 0.8% as expectations grew that rules limiting debit-card swipe fees will be delayed. Federal Reserve Chairman Ben Bernanke sent a letter to Congress on Tuesday acknowledging the Fed was unlikely to meet an April 21 deadline to set final rules for the fees. Mattress maker Sealy sank 3.6% after swinging to a fiscal first-quarter loss, missing expectations. The company also reported lower sales volumes and prices on Posturepedic products ahead of the launch of a new line. Oxford Industries jumped 34% after the apparel company's fiscal fourth-quarter earnings rose sharply. The company also announced an 18% increase to its quarterly dividend. BlackRock is slated to replace Genzyme in the S&P 500 index, as the biotechnology company is set to be acquired, Standard & Poor's said Tuesday. Shares in the money manager, the world's biggest, rose 6.6%. Salesforce.com rose 7.09, or 5.6%, to 134.49, after agreeing to buy monitoring firm Radian6 for about $326 million in stock and cash in its largest deal ever. MicroStrategy Inc. added 8.7% after saying it has been selected by Groupon to analyze the company's daily deals, examining the types of goods and services purchased, discounts offered, locations and purchaser demographics. Jos. A. Bank Clothiers added 3.8% after the retailer's fiscal fourth-quarter profit climbed 15%, topping Wall Street's views, as sales and margins rose. Acxiom plunged 23% after saying its chief executive and chief financial offers are resigning. The marketing data company also announced plans to write down the value of its international business and projected disappointing current-quarter earnings below analysts' estimates. Dow Chemical added 0.1% after its chairman and chief executive, Andrew Liveris, paid back the specialty chemical company about $720,000 for personal expenses it mistakenly failed to bill him.
Wednesday's Closing Dow Numbers and Thursday's News:
AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE: WSJ pB5 "AT&T sees some trade offs" by Roger Cheng, Fin Times p18 "AT&T chief defends T-Mobile tie up" by Paul Taylor, WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway say stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Alcoa AA $17.64 +0.15 0.86% 23,274,590 NYSE: No mentions found.
Amex AXP $45.91 +0.26 0.57% 5,507,757 NYSE: No mentions found.
Bank of America BAC $13.45 +0.10 0.75% 120,294,913 NYSE: WSJ pC2 "Reynolds joins BofA" by David Benoit says Craig Reynolds is leaving Goldman Sachs to head Bof A's N. Amer. interest rate trading operation.
AJC pA18 "BofA CEO received 79% drop in pay" says Brian Moynihan received '10 comp of $1.25 mil a drop of 79% from '09.
Boeing BA $73.8 +0.18 0.24% 3,860,788 NYSE: No mentions found.
Caterpillar CAT $111.53 +0.99 0.9% 5,602,133 NYSE: No mentions found.
Chevron CVX $108.01 +0.64 0.6% 7,838,256 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS: No mentions found.
Coke KO $66.04 +0.32 0.49% 9,361,660 NYSE: No mentions found.
Disney DIS $43.35 +0.41 0.95% 6,978,417 NYSE: WSJ pC12 "High growth media search leads to Google" by Martin Peers says Google is a growth stock & should be rading at more than 15.4 times expected '11 earnings. It compares Disney trading at 16.4 expected '11 earnings & Microsoft, a big, slow moving behemoth that generates lots of cash is trading like Google.
DuPont DD $55.37 +0.78 1.43% 6,311,759 NYSE: Fin Times p17 "DuPont delays bid deadline" by Andrew Ward says DuPont has given Danisco shareholders another 4 weeks to decide on its $6 bil bid for the Danish food & enzyme maker amid dbouts over its chances of copleting the acquisition as only 6% of the Danisco shares have been tendered.
Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
GE $20.11 +0.25 1.26% 46,810,093 NYSE: Fin times p9 "Electric avenues" by Ed Crooks, Jeremy Lemer is a full page analysis of GE saying under CEO Jeff Imelt, GE has performed below par for nearly a decade & calls for a break up are on the rise but he is making a big bet on fresh growth.
Hewlett-Packard HPQ $41.3 -0.19 0.46% 17,313,816 NYSE: No mentions found.
Home Depot HD $37.57 -0.13 0.34% 7,718,615 NYSE: WSJ pC1 "Dow aims to notch quarterly win again" by Matt Phillips, Brendan Conway says stocks jumped, pulling he Dow within reach of its '11 high on track for its best first quarter since '98. TheDow rose 71.60 points just shy of its '11 closing high of 1391.25 reached 2/18. It is up 6.7% for the quarter, belying some drastic moves in March amid unrest in the Mid East, the nuclear crisis in Japan and debt woes in Europe. Behemoths such as Chevron & Exxon rose 18% & 16% respectively. AT&T captured investors' attention with its $39 bil buyout of T-Mobile and its stock is up 4.5% for the year and Wed it was the best performer in the Dow up 2.2%. Home Dept is charted under Bad News saying it was down Wed.
Intel INTC $20.46 +0.18 0.89% 54,358,709 NASDAQ-GS: No mentions found.
IBM $163.6 +0.72 0.44% 3,382,636 NYSE: Fin Times p15 "Microsoft's Allen tells of Gates' rip of plan" by Richard Waters says Paul Allen, Microsoft's co-founder has published a tell all memoir and there is a photo of him and bill Gates after signing a contract with IBM in '81.
JPMorgan JPM $46.45 +0.43 0.93% 26,725,277 NYSE: Fin Times p1 "Dimon warns of bank nail in coffin" by Tom Braithwaite says JPM CEO jamie Dimon attached fin'l regulation saying new capital rules would be the nail in our coffin for big US banks. Side Story "US groups rediscover appetitie for M&A" by Helen Thomas says JPMOrgan will be the No. 1 global M&A banker for the first time since '04.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Johnson & Johnson JNJ $59.38 +0.16 0.27% 10,689,047 NYSE: WSJ pB3 "J&J to reorganize unit after recalls" by Jon rockoff says JNJ will revamp its McNeil Consumer Healthcare unit that makes Tylenol and will give it new leadership to fix the problems that has resulted in various recalls.
KFT $31.48 +0.21 0.67% 6,525,868 NYSE: No mentions found.
McDonalds MCD $75.81 +0.44 0.58% 3,463,125 NYSE: WSJ pB3 "McDonald's boosts Japan imports" by Dana Matioli says MCD has boosted imports to Japan to counter supply chain disruptions and damage from the earthquake.
Merck MRK $33.3 +0.52 1.59% 17,212,260 NYSE: Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Microsoft MSFT $25.61 +0.12 0.47% 36,327,581 NASDAQ-GS: NYT pB1 "Antitrust cry from Microsoft" by Steve Lohr says Microsoft will file an antitrust complaint in Brussels against Google sayings its search engine unfairly promotes its own products.
WSJ pC12 "High growth media search leads to Google" by Martin Peers says Google is a growth stock & should be trading at more than 15.4 times expected '11 earnings. It compares Disney trading at 16.4 expected '11 earnings & Microsoft, a big, slow moving behemoth that generates lots of cash is trading like Google.
WSJ pA1 "Broken windows at Microsoft" byRobert A. Guth, Nick Wingfield, NYT pB1 "Residual regrets in a Microsoft partnership" by Miquel Helft, Fin Times p15 "Microsoft's Allen tells of Gates' rip of plan" by Richard Waters say Paul Allen, Microsoft's co-founder has published a tell all memoir and there is a photo of him and bill Gates after signing a contract with IBM in '81.
WSJ pB5 "Microsoft loses exec" by Seve Jones says MSFT's head of marketing, Mich Matthews will retire, the 5th high profile exec to leave in the past 2 years.
Pfizer PFE $20.3375 +0.0425 0.21% 38,028,608 NYSE: No mentions found.
Procter & Gamble PG $61.97 +0.69 1.13% 7,554,700 NYSE: No mentions found.
3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE: No mentions found.
TRV $59.39 +0.13 0.22% 3,788,843 NYSE: No mentions found.
United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE: No mentions found.
Verizon VZ $38.46 +0.17 0.44% 25,582,545 DualListed: USA Today p4B "Verizon HTC ThunderBolt zips with wicked fast 4G speed" by Ed Baig says the $249.99 device sells with a 2 year contract and is a powerful, sturdy, fast smartphone with nice, large screen but 4G isn't ubiquitous and battery life is only fair and it is large & heavy.
Fin Times p24 "Hostile bid for Cephalon adds spark to pharma sector" by Michael Stothard says deal news helped to lift the pharma sector while the wider markets were buoyed by promising employment data shead of the big monthly payroll report on Fri. Valeant said it would make a $5.7 bil hostile offer for Cephalon. Merck was up 1.6%. JPMorgan was up 0.9% and AT&T rose 2.2% after CEO Stephenson struck an upbeat note saying its takeover of T-Mobile USA would boost network capacity & improve service for devices such as the iPhone. Verizon Comm also gained ground up 0.4%.
Walmart WMT $52.36 +0.10 0.19% 8,564,290 NYSE: USA Today p2B "Walmart plans return to its one stop roots" by Jayne O'Donnell says WMT's US CEO Bill Simon says it needs to get back to its roots as the lowest priced one stop shop for consumers and cutting back on products was a mistake. Walmart has had 7 straight quarters of sales declines in the US.
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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. (Chicago, 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 as of 3/21/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $401 [5]
2. Procter & Gamble PG 243 [4]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 207 [2]
5. GE 204 [10.5]
6. IBM 190 [1]
7. WalMart WMT 184 [3.5]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 165 [6]
10. Pfizer PFE 161 [8]
11. Johnson & Johnson JNJ 160 [3]
12. Coke KO 144 [2.5]
13. Bank of America BAC 142 [10]
14. Intel INTC 111 [5.5]
15. Verizon VZ 101 [3]
16. Merck MRK 98 [3]
17. Cisco CSCO 95 [5.5]
18. Hewlett-Packard HPQ 89 [2]
19. Disney DIS 78 [2]
20. McDonald's MCD 76 [1]
21. United Technologies UTX 74 [1]
22. Caterpillar CAT 67 [.5]
23. 3M MMM 63 [.5]
24. Home Depot HD 59 [1.5]
25. Kraft KFT 54 [2]
26. American Express AXP 53 [1]
27. Boeing BA 51 [1]
28. DuPont DD 49 [1]
29. Travelers TRV 25 [.5]
30. Alcoa AA 17 [1]
Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 3/21/11:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 3/10/11 Proxy Statement re: Annual Meeting of Stockholders to be held on 4/29/11 in Little Rock, Ark
3/7/11 8K re; departure of Richard G. Lindner as CFO to be replaced by John T. Stephens
3/1/11 10K re: Fiscal year ended 12/31/10
Alcoa AA: 3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA
2/17/11 10K re: Fiscal year ended 12/31/10
2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan
American Express AXP: 3/18/11 8K re: Reg. FD disclosures re: its Comprehensive Capital Plan re: share repurchases & dividends
3/15/11 8K re: delinquency & write-off statistics for 3 months ended 2/28/11
3/4/11 Prelim Proxy Statement re: Shareholder Meeting to be held 5/2/11 in NYC
2/2811 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: delinquency & write0off statistics for 3 months ended 1/31/11
1/18/11 8K re: comp to CEO Chanault
Bank of Am BAC: 3/17/11 8K re: issuance of $1.5 bil of 3.625% of Senior Notes due 2016
3/16/11 8K re: election of Mukesh D. Ambani to Board of Directors & Compensation & Benefit Committee & Audit Committee
1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results
Boeing BA: 3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago
2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama
Caterpiller CAT: 3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics
2/22/11 10K re: Fiscal year ended 12/31/10
2/18/11 8K re: dealer statistics for January
Chevron CVX:
2/24/11 10K re: Fiscal year ended 12/31/10
2/1/11 8K re: compensation to officers including CEO John Watson
Cisco CSCO 3/18/11 8K re: initiation of quarterly cash dividends of 6 cents per share to be paid 4/20
3/16 & 3/15 8Ks re: issuance of debt securities
3/9/11 8K re: recasting of fin'l stmts due to combining Asia Pacific & Japan operations
2/23/11 8K re: election of Gary B. Moore as COO
2/23/11 10Q re: Quarter ended 1/29/11
Coke KO 3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta
2/28/11 10K re: Fiscal year ended 12/31/10
2/17/11 8K re: election of Evan G. Greenberg to Board of Directors & Audit Comm.
2/17/11 8K re: Amendment of Stock Option Plan
Disney DIS 3/18/11 two 8Ks re: amendment to employment Agreement of CEO Robert A. Iger & other execs.
3/2/11 Proxy Materials re: shareholder proposal re: exec compensation
2/25/11 8K re: $2.25 bil 4 year Credit Agreement
2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual shareholder meeting to be held 3/23/11 at Salt Lake City, Utah
DuPont DD: 3/18/11 Proxy re: Annual Stockholders Meeting to be held on 4/27/11 in Wilmington, DE
3/8/11 8K re: retirement of Samuel W. Bodman & John T. Dillon from Board of Directors due to reaching age 72
2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP
ExxonMobil XOM: 3/15/11 8K re: results of operations presentation at analyst meeting
2/28 10K/A & 2/25 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: FD Disclosure re: worldwide proved oil and gas reserve
GE: 3/14/11 Proxy re: Annual Shareholders Meeting on 4/27/11 in Salt Lake City, Utah
2/25/11 10K re: Fiscal year ended 12/31/10
2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal
Hewlett-Packard HPQ: 3/11/11 Proxy Materials re: opposition to ISS voting recommendations re: exec comp.
3/11/11 & *k 2/22/11 re: Quarter ended 1/31/11
2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors
Home Depot HD: 3/2/11 8K re: approval of Stock Option Plan
2/22/11 8K re: fin'l results of fiscal year & quarter ended 1/30/11
1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada
Intel INTC: 2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10
IBM: 3/18/11 8K re: settlement with SEC of bribery charges in Asia for $10 mil
3/8/11 8K re: FD disclosure re: presentation at investor briefing
3/7/11 Proxy rel Annual Stockholders Meeting on 4/26 in St. Louis, Mo.
2/22/11 10K re: Fiscal year ended 12/31/10
JPMorganChase JPM: 2/28/11 10K re: fiscal year ended 12/31/10
2/24/11 8K re: clsoing of public offering of $3 bil of 3.45% Notes due 2016
Johnson & Johnson JNJ : 3/16/11 Proxy re: Annual Shareholders Meeting on 4/28 in New Brunswick, NJ
3/10/11 8K re: Entering into a consent decree with the FDA regarding its oversight of JNJ's McNeil Unit plants in Puerto Rico and Pennslyvania
2/25/11 10 K e: fiscal year ended 1/2/11
Kraft KFT: 3/14/11 8K re: departure of CFO timothy R. McLevish to be replaced by David A. Brearton
2/28/11 10K re: Fiscal year ended 12/31/10
2/22/11 8K re: FD disclosure re: presentation at Consumer Analyst Group of NY
McDonalds MCD: 3/9/11 8K re: FD disclosure re: comparable sales rising 3.9% in Feb.
3/3/11 Proxy re: Annual Meeting of Shareholders on 5/19/11 at Oak Brook, Ill.
2/25/11 10K re: fiscal year ended 12/31/10
2/8/11 8K re: Jan 2011 global sales
Merck MRK: 2/28/11 10K re: Fiscal year ended 12/31/10
Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10
Pfizer PFE: 2/28/11 10K re: fiscal year ended 12/31/10
Procter & Gamble PG: 3/1/11 8K re: resignation of Rajat KJ. Gupta from Board of Directors
2/11/11 8K re: election of Meg Whitman to Board of Directors
3M MMM: 3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline
2/16/11 10K re: Fiscal year ended 12/31/10
2/16/11 & 2/15/11 four 8Ks re: adoption by four executives of pre-arranged trading programs
Travelers TRV: 2/17/11 10K re: Fiscal year ended 12/31/10
1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q
United Technologies UTX: 2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ
2/10/11 10K for FY 12/31/10
Verizon Communications Inc. VZ: 3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)
2/28/11 10K re: fiscal year ended 12/31/10
2/3/11 8K re: increase to stock repurchase program
WalMart WMT: 2/22/11 8K re: revising fin'l info for prior operating results
Wednesday, March 30, 2011
3/30/11 Wed pm Dow Closes at 12,350.61 up 71.6 or 0.58%
www.DowJonesMonitor.com
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 943 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 components' SEC filings as of March 21, 2011.
The Dow Jones Industrial Average closed Wednesday at 12,350.61 up 71.6 points or 0.58% from Tuesday's close of 12279.01. Of the 30 Dow components 26 gained and 4 declined. The biggest gainer dollar-wise was Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE and percentage-wise was AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE. The biggest decliner dollar-wise was 3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE and percentage-wise was Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS.
As of the open of the market Wednesday, 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 14.92 up from yesterday's trailing P/E of 14.82 (year ago it was 17.01); the P/E estimate is 12.63 unchanged from yesterday's P/E estimate of 12.63 (year ago it was 13.85), and the dividend yield is 2.38 down from yesterday's dividend yield of 2.39 (last year it was 2.50). 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 1,631.88 up 9.46 from Tuesday's closing numerator of 1,622.42. 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 $54.39 up 0.31 cents from Tuesday's average closing price of 54.08. The median closing price of Wednesday's Dow Jones Industrial Average was $46.18 (JPM/AXP) up 0.35 from Tuesday's median closing price of $45.83. The lowest volume was United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE and the highest volume was again Bank of America BAC $13.45 +0.10 0.75% 120,294,913 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 $946 ($163,188 - $162,242).
MarketWatch Wednesday 3/31/11 4:28 by Brendan Conway says telecommunications stocks led U.S. indexes higher Wednesday, as optimism over deal activity added to confidence that jobs data would continue pointing toward a strengthening labor market. The Dow Jones Industrial Average gained 71.60 points, or 0.58%, to finish at 12350.61, its eighth gain in 10 trading days and highest close in nearly six weeks. The measure was led by AT&T, which gained 2.2% after Chief Executive Randall Stephenson said he expects some divestitures as his company pursues a $39 billion buyout of T-Mobile USA from Deutsche Telekom. The Standard & Poor's 500-stock index closed 8.82 higher, or 0.67%, at 1328.26, also posting its eighth gain in 10 days. The Nasdaq Composite gained 19.90, or 0.72%, to 2776.79. The Russell 2000 small-capitalization index finished at its highest close of the year and its highest since Oct. 12, 2007, as it gained 10.88, or 1.31%, to 840.37. "The evidence continues to mount that the economy is in recovery mode," said Jack McPherson, portfolio manager at Eagle Small Cap Core Value Fund, noting that small-cap stocks tend to outperform their larger counterparts coming out of a recession.
Investors taking their money out of fixed income to wade into stocks may also be boosting small-caps, he said. Still, at a time of global fragility, it is somewhat surprising that people are willing to invest in riskier assets, he said. With their lower cash reserves and higher volatility, small-cap stocks are generally considered riskier than their larger counterparts. "Given the geopolitical backdrop, given what's going on in Europe, you'd think aversion to risk might be higher," McPherson said. In other deal news, Valeant Pharmaceuticals made a $5.7 billion bid for biopharmaceutical group Cephalon. Valeant CEO J. Michael Pearson said on a conference call that he was open to giving a "bump" to the offer if the due-diligence process reveals more value. Cephalon's stock surged 28%, and Valeant's rose 13%. Investors said the market was also looking ahead with more confidence to Friday's key government jobs report, following encouraging data Wednesday morning. Automatic Data Processing said U.S. private-sector payrolls increased by 201,000 jobs in March, just below the expected 205,000. Half the gains in the ADP report came from small businesses. The figure was "consistent with a gradual if uneven decline in the employment rate," the report said. "The market's showing its hand very clearly here: They want this number Friday to be through the roof," plus revisions to previous figures, Todd Colvin, vice president at MF Global said. "The jobs number is really what's driving the trade here." Among stocks in focus, Visa added 2.8% and Mastercard gained 0.8% as expectations grew that rules limiting debit-card swipe fees will be delayed. Federal Reserve Chairman Ben Bernanke sent a letter to Congress on Tuesday acknowledging the Fed was unlikely to meet an April 21 deadline to set final rules for the fees. Mattress maker Sealy sank 3.6% after swinging to a fiscal first-quarter loss, missing expectations. The company also reported lower sales volumes and prices on Posturepedic products ahead of the launch of a new line. Oxford Industries jumped 34% after the apparel company's fiscal fourth-quarter earnings rose sharply. The company also announced an 18% increase to its quarterly dividend. BlackRock is slated to replace Genzyme in the S&P 500 index, as the biotechnology company is set to be acquired, Standard & Poor's said Tuesday. Shares in the money manager, the world's biggest, rose 6.6%. Salesforce.com rose 7.09, or 5.6%, to 134.49, after agreeing to buy monitoring firm Radian6 for about $326 million in stock and cash in its largest deal ever. MicroStrategy Inc. added 8.7% after saying it has been selected by Groupon to analyze the company's daily deals, examining the types of goods and services purchased, discounts offered, locations and purchaser demographics. Jos. A. Bank Clothiers added 3.8% after the retailer's fiscal fourth-quarter profit climbed 15%, topping Wall Street's views, as sales and margins rose. Acxiom plunged 23% after saying its chief executive and chief financial offers are resigning. The marketing data company also announced plans to write down the value of its international business and projected disappointing current-quarter earnings below analysts' estimates. Dow Chemical added 0.1% after its chairman and chief executive, Andrew Liveris, paid back the specialty chemical company about $720,000 for personal expenses it mistakenly failed to bill him.
Wednesday's Closing Dow Numbers:
AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE
Alcoa AA $17.64 +0.15 0.86% 23,274,590 NYSE
Amex AXP $45.91 +0.26 0.57% 5,507,757 NYSE
Bank of America BAC $13.45 +0.10 0.75% 120,294,913 NYSE
Boeing BA $73.8 +0.18 0.24% 3,860,788 NYSE
Caterpillar CAT $111.53 +0.99 0.9% 5,602,133 NYSE
Chevron CVX $108.01 +0.64 0.6% 7,838,256 NYSE
Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS
Coke KO $66.04 +0.32 0.49% 9,361,660 NYSE
DIS $43.35 +0.41 0.95% 6,978,417 NYSE
DuPont DD $55.37 +0.78 1.43% 6,311,759 NYSE
Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE
GE $20.11 +0.25 1.26% 46,810,093 NYSE
Hewlett-Packard HPQ $41.3 -0.19 0.46% 17,313,816 NYSE
Home Depot HD $37.57 +0.13 0.34% 7,718,615 NYSE
Intel INTC $20.46 +0.18 0.89% 54,358,709 NASDAQ-GS
IBM $163.6 +0.72 0.44% 3,382,636 NYSE
JPMorgan JPM $46.45 +0.43 0.93% 26,725,277 NYSE
JNJ $59.38 +0.16 0.27% 10,689,047 NYSE
KFT $31.48 +0.21 0.67% 6,525,868 NYSE
MCD $75.81 +0.44 0.58% 3,463,125 NYSE
MRK $33.3 +0.52 1.59% 17,212,260 NYSE
MSFT $25.61 +0.12 0.47% 36,327,581 NASDAQ-GS
Pfizer PFE $20.3375 +0.0425 0.21% 38,028,608 NYSE
Procter & Gamble PG $61.97 +0.69 1.13% 7,554,700 NYSE
3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE
TRV $59.39 +0.13 0.22% 3,788,843 NYSE
United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE
Verizon VZ $38.46 +0.17 0.44% 25,582,545 DualListed
WMT $52.36 +0.10 0.19% 8,564,290 NYSE
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The following are excerpts from Wed. morning's Blog:
A read of Wednesday's Wall Street Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg) 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 Tuesday's stock prices and related data.
Dow Jones Industrial Average: The Dow Jones Industrial Average closed Tuesday at 12,279.01 up 81.13 points or 0.67% from Monday's close of 12197.88. Of the 30 Dow components 23 gained and 7 declined. For the year the Dow is up 6.06%. The biggest gainer dollar-wise was IBM $162.88 +1.51 0.94% 3,454,930 NYSE and percentage-wise was Home Depot HD $37.7 +1.05 2.86% 16,462,958 NYSE. The biggest decliner dollar-wise and percentage-wise was Hewlett-Packard HPQ $41.11 -1.03 2.44% 26,036,119 NYSE.
WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
Fin Times p22 "Weakness for housebuilders fails to take the shine off wider gains" by Michael Stothard says homebuilders lost ground following weak US housing data but the wider markets were resilient as traders were reluctant to take money off the table ahead of nonfarm payroll numbers on Fri. GE agreed to buy Converteam, a maker of electrification equipment, and shares in GE were up 0.6%.
NYT pB10 "Confidence daa buoys investors" by AP says stocks finished broadly higher after consumer confidence fell less than some analysts had feared.
USA Today p4B "Stocks rise on economic momentum" by Bloomberg says the stock market advanced as Home Depot due to its buyback announcement drove consumer firms higher, and energy shares rose amid speculation that production will increase in the Mid East.
Tuesday's Dow Jones Industrial Average closing numerator was 1,622.42 up 10.72 from Monday's closing numerator of 1,611.70. 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 Tuesday's Dow Jones Industrial Average was $54.08 up 0.36 cents from Monday's average closing price of 53.72. The median closing price of Tuesday's Dow Jones Industrial Average was $45.83 (JPM/AXP) down 0.01 from Monday's median closing price of $45.84. The lowest volume was 3M MMM $92.84 +0.72 0.78% 2,212,134 NYSE and the highest volume was again Bank of America BAC $13.35 -0.02 0.15% 116,891,108 NYSE.
If Tuesday 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 $1,072 ($162,242 - $161,170).
MarketWatch Tuesday 3/29/11 4:27 by Jonathan Cheng says U.S. stocks surged to its seventh advance in nine sessions, reclaiming nearly six weeks of losses to close at their highest level since the outbreak of violence in Libya on Feb. 18. The stock gains, which were fueled by telecommunications and energy companies, came as investors geared up for a slew of critical data points later this week on unemployment and manufacturing that investors hope will show further signs of a strengthening economy. The Dow Jones Industrial Average finished with a gain of 81.13 points, or 0.67%, to 12279.01, while the Standard & Poor's 500-stock index gained 9.25 points, or 0.71%, to finish at 1319.44. The Nasdaq Composite gained 26.21 points, or 0.96%, to 2756.89. The gains were largely powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's (T 30.07, +0.02, +0.07%) bid for Deutsche Telekom's (DTEGY 15.15, +0.13, +0.87%) T-Mobile USA earlier in the month. AT&T, which would become the country's largest phone carrier, gained 69 cents, or 2.4%, to $30.05 while Verizon Communications (VZ 38.25, -0.04, -0.10%) added 54 cents, or 1.4%, to 38.29. Sprint Nextel (S 4.61, -0.01, -0.22%) , the purported loser in an AT&T merger with T-Mobile, slid 16 cents, or 3.4%, to 4.62. "There are only a dozen companies in telecoms, and it looks like AT&T would be the monster," said Scott Armiger, vice president and portfolio manager at Christiana Trust. "With all the swings up and down we've seen in March, some of the telecom advance could also be defensiveness--it's a good place to hide." Armiger pointed to high dividend yields that are attractive to investors looking to switch out of their bond positions. "It's the late money moving out of bonds--the run in corporate credits is over, and it's time to short Treasurys. ... People are just exiting bonds, looking at money-market rates and realizing they have no alternatives, so they go into stocks." Also strong on Tuesday was Home Depot (HD 37.70, +1.05, +2.86%) , which surged 1.05, or 2.9%, to 37.70 to lead the Dow components after the home-improvement retailer said it planned to repurchase $1 billion worth of its shares through an accelerated share-buyback program, using proceeds from issuing $2 billion worth of notes. The stock had fallen 2.1% on Monday after the company announced that debt offering. All of the S&P 500's 10 sectors ended in positive territory, with energy stocks strong as oil pushed back up toward $105 a barrel. Chevron (CVX 107.00, -0.37, -0.35%) gained 1.33, or 1.3%, to 107.37 while Halliburton (HAL 48.95, -0.05, -0.10%) added 1.10, or 2.3%, to 49.00 after saying it expects to step up its activity in Saudi Arabia's Manifa project following talks with the operator. Halliburton also said geopolitical turmoil would knock three or four cents a share off its first-quarter earnings. However, trading volumes were weak for a second straight day, with just 3.6 billion shares changing hands in New York Stock Exchange composite trading with about half an hour of trading left in the session--far below the average daily volume of 4.5 billion shares. Monday, which saw just 3.3 billion shares change hands, was the slowest day of the year. The stock gains came ahead of a three-day run that will feature private-sector payrolls on Wednesday, initial jobless claims on Thursday and the all-important monthly nonfarm payrolls figure on Friday, as well as monthly manufacturing data. "As an investor, given what the reports have been like in unemployment claims, manufacturing and so on, do you want to be short the market going into this 'payroll Friday'? I don't think you do," said James Paulsen, chief investment strategist at Wells Capital Management, pointing to several consecutive months of solid, though unspectacular, jobs numbers. "I'm not saying we get a blowout number this month, but there are enough reports around that suggest we're notching up new jobs, and that's a much bigger event than the Middle East crisis or the European sovereign-debt crisis," he said. "Getting job growth up from 100,000 new jobs to 200,000 means a radically different environment for business." The economic data of the day was mixed, with the latest reading of the Conference Board's consumer-confidence index showing a sharp drop of 8.6 points to 63.4 in March from the previous month, though that decline was smaller than expected. Consumer-discretionary stocks rallied on the news. U.S. home prices also continued their downward trend in January, falling 3.1% to about the same level as in the summer of 2003. Even so, the decline on the S&P/Case-Shiller 20-city index came at a slower pace than feared. General Electric (GE 19.86, +0.11, +0.56%) gained 11 cents, or 0.6%, to 19.86 after the conglomerate said its energy unit is paying $3.2 billion in cash for a 90% stake in French power-conversion company Converteam, a deal that beefs up GE's technology offerings in the oil-and-gas and renewable-energy sectors.Phillips-Van Heusen (PVH) rose 5.03, or 8.4%, to 65.20 after its fourth-quarter profit nearly doubled to $52.2 million from $27 million. Adjusted earnings for the quarter beat market expectations. Home builders were lower after the housing data. Lennar (LEN 19.09, +0.02, +0.10%) dropped 68 cents, or 3.4%, to 19.07 even after swinging to a fiscal first-quarter profit that exceeded market expectations. KB Home (KBH 12.94, -0.25, -1.90%) lost 25 cents, or 1.9%, to 12.94 while D.R. Horton (DHI 11.95, -.00, -0.04%) fell 20 cents, or 1.7%, to 11.95. The dollar rose against the yen to Y82.47 from Y81.72 late Monday, while the euro gained to $1.4105 from $1.4093. Gold finished slightly lower, while crude oil settled higher at $104.79 a barrel. Treasurys fell again, with the yield on the benchmark 10-year note rising to 3.489% for its ninth straight session of rising yields, the longest such streak since April 1990.
Tuesday's Closing Dow Numbers and Wednesday's News:
AT&T T $30.05 +0.69 2.35% 41,525,011 NYSE: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
WSJ pB2 "AT&T deal troubles sates" by Roger Cheng, Fin Times p15 "NY state attorney to review AT&T deal" by Paul Taylor, NYT pB1 "As regulators weigh AT&T bid, a look at wireless markets abroad" by Jena Wortham say several state attorneys general raised concerns about AT&T's bid for T-Mobile as NY Atty Gen vows review.
Alcoa AA $17.49 +0.25 1.45% 18,972,575 NYSE: No mentions found.
Amex AXP $45.65 -0.07 0.15% 4,999,302 NYSE: No mentions found.
Bank of Am BAC $13.35 -0.02 0.15% 116,891,108 NYSE: No mentions found.
Boeing BA $73.62 +0.32 0.44% 4,780,679 NYSE: No mentions found.
CAT $110.54 +1.14 1.04% 5,765,746 NYSE: No mentions found.
Chevron CVX $107.37 +1.33 1.25% 6,939,865 NYSE: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
CSCO $17.44 +0.31 1.81% 57,074,418 NASDAQ-GS: No mentions found.
Coke KO $65.72 +0.69 1.06% 5,749,577 NYSE: WSJ pB4 "Coke get serious about Global Fanta" by Paul Ziobro says Coke is giving Fanta, its 2nd largest int'l brand, a unified global marketing push, a treatment it has given only to Cole and to Sprite.
DIS $42.94 +0.42 0.99% 5,454,221 NYSE: No mentions found.
DuPont DD $54.59 +0.66 1.22% 3,650,708 NYSE: No mentions found.
Exxon XOM $83.25 -0.22 0.26% 16,247,199 NYSE: No mentions found.
GE $19.86 +0.11 0.56% 35,963,556 NYSE: WSJ pB1 "GE takes new leap in energy business" by Bob Sechler, Fin Times p13 "GE agree3s $3.2 bn energy deal" by Jeremy Lemer, NYT pB7 "GE to buy tech firm for $3.2 bil" by Tom Zeller, USA Today p1B "E to acquire Converteam", AJC pA14 say GE's energy unit agreed to pay $3.2 bil in cash for a controlling stake in French power conversion firm Converteam, a deal that beefs up GE's tech offerings int he oil & gas and renewable energy sectors & marks GE's latest in a string of deals totaling $11 bil over the last 6 monts to expand its energy business.
Fin Times p22 "Weakness for housebuilders fails to take the shine off wider gains" by Michael Stothard says homebuilders lost ground following weak US housing data but the wider markets were resilient as traders were reluctant to take money off the table ahead of nonfarm payroll numbers on Fri. GE agreed to buy Converteam, a maker of electrification equipment, and shares in GE were up 0.6%.
Hewlett-Packard HPQ $41.11 -1.03 2.44% 26,036,119 NYSE: WSJ pB2 "Apple, Microsoft vie to parse words" by Ian Sherr says Microsoft & Apple have hired linquists to be experts in their battle over whether the gov can grant a trademark for the term 'app store." Google, Hewlett-Packard and RIM have set up digital shops.
Home Depot HD $37.7 +1.05 2.86% 16,462,958 NYSE: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng, AJC pA14 say stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
NYT pB2 "A bad record on buybacks" says American firms have a bad track record of buying their own shares high and selling them low. Home Depot's $1 bil program adds to the $136 bil of buybacks announced this year.
USA Today p4B "Stocks rise on economic momentum" by Bloomberg says the stock market advanced as Home Depot due to its buyback announcement drove consumer firms higher, and energy shares rose amid speculation that production will increase in the Mid East.
Intel INTC $20.28 -0.06 0.29% 59,409,476 NASDAQ-GS: No mentions found.
IBM $162.88 +1.51 0.94% 3,454,930 NYSE: No mentions found.
JPMorgan JPM $46.02 +0.06 0.13% 17,817,886 NYSE: No mentions found.
Johnson & Johnson JNJ $59.22 -0.02 0.03% 9,281,707 NYSE: WSJ pB2 "J&J issues more drug recalls" by Peter Loftus says J&J issued another round of recalls of otc medicines citing quality lapses similar to those in a series of recalls since '09. It recalled 34,000 bottles of Tylenol 8 hour extended release caplets after a complaint of a musty or moldy odor which they believe was caused by trace amount of a chemical called TBA.
KFT $31.27 -0.20 0.64% 8,734,750 NYSE: No mentions found.
MCD $75.37 +0.37 0.49% 3,007,721 NYSE: No mentions found.
MRK $32.78 +0.33 1.02% 9,902,299 NYSE: No mentions found.
Microsoft MSFT $25.49 +0.08 0.31% 40,726,260 NASDAQ-GS: WSJ pB2 "Apple, Microsoft vie to parse words" by Ian Sherr says Microsoft & Apple have hired linquists to be experts in their battle over whether the gov can grant a trademark for the term 'app store." Google, Hewlett-Packard and RIM have set up digital shops.
Pfizer PFE $20.38 +0.11 0.54% 33,632,015 NYSE: No mentions found.
Procter & Gamble PG $61.28 +0.62 1.02% 7,673,086 NYSE: WSJ pB4 "Unilever takes on the ugly underarm" by Ellen Byron says P&G introduced a new line called Secret Natural Mineral which uses calcium carbonate to curb odor.
3M MMM $92.84 +0.72 0.78% 2,212,134 NYSE: No mentions found.
TRV $59.26 +0.35 0.59% 2,864,953 NYSE: No mentions found.
United Tech UTX $84.12 +0.65 0.78% 3,351,869 NYSE: No mentions found.
Verizon VZ $38.29 +0.54 1.43% 22,991,380 DualListed: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
Walmart WMT $52.26 +0.07 0.13% 8,705,407 NYSE: WSJ pA3 "Court weights bias claim" by Jess Bravin, Daily Report p1 "Walmart class action runs into stiff resistance" by Tony Mauro, Fin Times p6 "Walmart hits back at women's claim" by Barney Jopson, NYT pB1 "Class action at Wamart has justices in conflict' by Adam Liptak, USA Today p1B "Is Walmart lawsuit too big" by Joan Biskupic say the massive class action against Walmart ran into stiff resistance at the US Supreme Court on Tues when a Justice wanted to know what was the unlawful policy that Walmart adopted? Also WSJ editorial at pA18 "The Walmart Wateshed."
NYT pB1 "Walmart no, Aldi yes?" by Stephanie Clifford says that while Walmart plans to get into NYC, the giant retailer Aldi has slipped in unnoticed in Queens.
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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. (Chicago, 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 as of 3/21/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $401 [5]
2. Procter & Gamble PG 243 [4]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 207 [2]
5. GE 204 [10.5]
6. IBM 190 [1]
7. WalMart WMT 184 [3.5]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 165 [6]
10. Pfizer PFE 161 [8]
11. Johnson & Johnson JNJ 160 [3]
12. Coke KO 144 [2.5]
13. Bank of America BAC 142 [10]
14. Intel INTC 111 [5.5]
15. Verizon VZ 101 [3]
16. Merck MRK 98 [3]
17. Cisco CSCO 95 [5.5]
18. Hewlett-Packard HPQ 89 [2]
19. Disney DIS 78 [2]
20. McDonald's MCD 76 [1]
21. United Technologies UTX 74 [1]
22. Caterpillar CAT 67 [.5]
23. 3M MMM 63 [.5]
24. Home Depot HD 59 [1.5]
25. Kraft KFT 54 [2]
26. American Express AXP 53 [1]
27. Boeing BA 51 [1]
28. DuPont DD 49 [1]
29. Travelers TRV 25 [.5]
30. Alcoa AA 17 [1]
Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 3/21/11:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 3/10/11 Proxy Statement re: Annual Meeting of Stockholders to be held on 4/29/11 in Little Rock, Ark
3/7/11 8K re; departure of Richard G. Lindner as CFO to be replaced by John T. Stephens
3/1/11 10K re: Fiscal year ended 12/31/10
Alcoa AA: 3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA
2/17/11 10K re: Fiscal year ended 12/31/10
2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan
American Express AXP: 3/18/11 8K re: Reg. FD disclosures re: its Comprehensive Capital Plan re: share repurchases & dividends
3/15/11 8K re: delinquency & write-off statistics for 3 months ended 2/28/11
3/4/11 Prelim Proxy Statement re: Shareholder Meeting to be held 5/2/11 in NYC
2/2811 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: delinquency & write0off statistics for 3 months ended 1/31/11
1/18/11 8K re: comp to CEO Chanault
Bank of Am BAC: 3/17/11 8K re: issuance of $1.5 bil of 3.625% of Senior Notes due 2016
3/16/11 8K re: election of Mukesh D. Ambani to Board of Directors & Compensation & Benefit Committee & Audit Committee
1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results
Boeing BA: 3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago
2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama
Caterpiller CAT: 3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics
2/22/11 10K re: Fiscal year ended 12/31/10
2/18/11 8K re: dealer statistics for January
Chevron CVX:
2/24/11 10K re: Fiscal year ended 12/31/10
2/1/11 8K re: compensation to officers including CEO John Watson
Cisco CSCO 3/18/11 8K re: initiation of quarterly cash dividends of 6 cents per share to be paid 4/20
3/16 & 3/15 8Ks re: issuance of debt securities
3/9/11 8K re: recasting of fin'l stmts due to combining Asia Pacific & Japan operations
2/23/11 8K re: election of Gary B. Moore as COO
2/23/11 10Q re: Quarter ended 1/29/11
Coke KO 3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta
2/28/11 10K re: Fiscal year ended 12/31/10
2/17/11 8K re: election of Evan G. Greenberg to Board of Directors & Audit Comm.
2/17/11 8K re: Amendment of Stock Option Plan
Disney DIS 3/18/11 two 8Ks re: amendment to employment Agreement of CEO Robert A. Iger & other execs.
3/2/11 Proxy Materials re: shareholder proposal re: exec compensation
2/25/11 8K re: $2.25 bil 4 year Credit Agreement
2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual shareholder meeting to be held 3/23/11 at Salt Lake City, Utah
DuPont DD: 3/18/11 Proxy re: Annual Stockholders Meeting to be held on 4/27/11 in Wilmington, DE
3/8/11 8K re: retirement of Samuel W. Bodman & John T. Dillon from Board of Directors due to reaching age 72
2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP
ExxonMobil XOM: 3/15/11 8K re: results of operations presentation at analyst meeting
2/28 10K/A & 2/25 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: FD Disclosure re: worldwide proved oil and gas reserve
GE: 3/14/11 Proxy re: Annual Shareholders Meeting on 4/27/11 in Salt Lake City, Utah
2/25/11 10K re: Fiscal year ended 12/31/10
2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal
Hewlett-Packard HPQ: 3/11/11 Proxy Materials re: opposition to ISS voting recommendations re: exec comp.
3/11/11 & *k 2/22/11 re: Quarter ended 1/31/11
2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors
Home Depot HD: 3/2/11 8K re: approval of Stock Option Plan
2/22/11 8K re: fin'l results of fiscal year & quarter ended 1/30/11
1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada
Intel INTC: 2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10
IBM: 3/18/11 8K re: settlement with SEC of bribery charges in Asia for $10 mil
3/8/11 8K re: FD disclosure re: presentation at investor briefing
3/7/11 Proxy rel Annual Stockholders Meeting on 4/26 in St. Louis, Mo.
2/22/11 10K re: Fiscal year ended 12/31/10
JPMorganChase JPM: 2/28/11 10K re: fiscal year ended 12/31/10
2/24/11 8K re: clsoing of public offering of $3 bil of 3.45% Notes due 2016
Johnson & Johnson JNJ : 3/16/11 Proxy re: Annual Shareholders Meeting on 4/28 in New Brunswick, NJ
3/10/11 8K re: Entering into a consent decree with the FDA regarding its oversight of JNJ's McNeil Unit plants in Puerto Rico and Pennslyvania
2/25/11 10 K e: fiscal year ended 1/2/11
Kraft KFT: 3/14/11 8K re: departure of CFO timothy R. McLevish to be replaced by David A. Brearton
2/28/11 10K re: Fiscal year ended 12/31/10
2/22/11 8K re: FD disclosure re: presentation at Consumer Analyst Group of NY
McDonalds MCD: 3/9/11 8K re: FD disclosure re: comparable sales rising 3.9% in Feb.
3/3/11 Proxy re: Annual Meeting of Shareholders on 5/19/11 at Oak Brook, Ill.
2/25/11 10K re: fiscal year ended 12/31/10
2/8/11 8K re: Jan 2011 global sales
Merck MRK: 2/28/11 10K re: Fiscal year ended 12/31/10
Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10
Pfizer PFE: 2/28/11 10K re: fiscal year ended 12/31/10
Procter & Gamble PG: 3/1/11 8K re: resignation of Rajat KJ. Gupta from Board of Directors
2/11/11 8K re: election of Meg Whitman to Board of Directors
3M MMM: 3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline
2/16/11 10K re: Fiscal year ended 12/31/10
2/16/11 & 2/15/11 four 8Ks re: adoption by four executives of pre-arranged trading programs
Travelers TRV: 2/17/11 10K re: Fiscal year ended 12/31/10
1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q
United Technologies UTX: 2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ
2/10/11 10K for FY 12/31/10
Verizon Communications Inc. VZ: 3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)
2/28/11 10K re: fiscal year ended 12/31/10
2/3/11 8K re: increase to stock repurchase program
WalMart WMT: 2/22/11 8K re: revising fin'l info for prior operating results
The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.
Post No. 943 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 components' SEC filings as of March 21, 2011.
The Dow Jones Industrial Average closed Wednesday at 12,350.61 up 71.6 points or 0.58% from Tuesday's close of 12279.01. Of the 30 Dow components 26 gained and 4 declined. The biggest gainer dollar-wise was Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE and percentage-wise was AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE. The biggest decliner dollar-wise was 3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE and percentage-wise was Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS.
As of the open of the market Wednesday, 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 14.92 up from yesterday's trailing P/E of 14.82 (year ago it was 17.01); the P/E estimate is 12.63 unchanged from yesterday's P/E estimate of 12.63 (year ago it was 13.85), and the dividend yield is 2.38 down from yesterday's dividend yield of 2.39 (last year it was 2.50). 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 1,631.88 up 9.46 from Tuesday's closing numerator of 1,622.42. 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 $54.39 up 0.31 cents from Tuesday's average closing price of 54.08. The median closing price of Wednesday's Dow Jones Industrial Average was $46.18 (JPM/AXP) up 0.35 from Tuesday's median closing price of $45.83. The lowest volume was United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE and the highest volume was again Bank of America BAC $13.45 +0.10 0.75% 120,294,913 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 $946 ($163,188 - $162,242).
MarketWatch Wednesday 3/31/11 4:28 by Brendan Conway says telecommunications stocks led U.S. indexes higher Wednesday, as optimism over deal activity added to confidence that jobs data would continue pointing toward a strengthening labor market. The Dow Jones Industrial Average gained 71.60 points, or 0.58%, to finish at 12350.61, its eighth gain in 10 trading days and highest close in nearly six weeks. The measure was led by AT&T, which gained 2.2% after Chief Executive Randall Stephenson said he expects some divestitures as his company pursues a $39 billion buyout of T-Mobile USA from Deutsche Telekom. The Standard & Poor's 500-stock index closed 8.82 higher, or 0.67%, at 1328.26, also posting its eighth gain in 10 days. The Nasdaq Composite gained 19.90, or 0.72%, to 2776.79. The Russell 2000 small-capitalization index finished at its highest close of the year and its highest since Oct. 12, 2007, as it gained 10.88, or 1.31%, to 840.37. "The evidence continues to mount that the economy is in recovery mode," said Jack McPherson, portfolio manager at Eagle Small Cap Core Value Fund, noting that small-cap stocks tend to outperform their larger counterparts coming out of a recession.
Investors taking their money out of fixed income to wade into stocks may also be boosting small-caps, he said. Still, at a time of global fragility, it is somewhat surprising that people are willing to invest in riskier assets, he said. With their lower cash reserves and higher volatility, small-cap stocks are generally considered riskier than their larger counterparts. "Given the geopolitical backdrop, given what's going on in Europe, you'd think aversion to risk might be higher," McPherson said. In other deal news, Valeant Pharmaceuticals made a $5.7 billion bid for biopharmaceutical group Cephalon. Valeant CEO J. Michael Pearson said on a conference call that he was open to giving a "bump" to the offer if the due-diligence process reveals more value. Cephalon's stock surged 28%, and Valeant's rose 13%. Investors said the market was also looking ahead with more confidence to Friday's key government jobs report, following encouraging data Wednesday morning. Automatic Data Processing said U.S. private-sector payrolls increased by 201,000 jobs in March, just below the expected 205,000. Half the gains in the ADP report came from small businesses. The figure was "consistent with a gradual if uneven decline in the employment rate," the report said. "The market's showing its hand very clearly here: They want this number Friday to be through the roof," plus revisions to previous figures, Todd Colvin, vice president at MF Global said. "The jobs number is really what's driving the trade here." Among stocks in focus, Visa added 2.8% and Mastercard gained 0.8% as expectations grew that rules limiting debit-card swipe fees will be delayed. Federal Reserve Chairman Ben Bernanke sent a letter to Congress on Tuesday acknowledging the Fed was unlikely to meet an April 21 deadline to set final rules for the fees. Mattress maker Sealy sank 3.6% after swinging to a fiscal first-quarter loss, missing expectations. The company also reported lower sales volumes and prices on Posturepedic products ahead of the launch of a new line. Oxford Industries jumped 34% after the apparel company's fiscal fourth-quarter earnings rose sharply. The company also announced an 18% increase to its quarterly dividend. BlackRock is slated to replace Genzyme in the S&P 500 index, as the biotechnology company is set to be acquired, Standard & Poor's said Tuesday. Shares in the money manager, the world's biggest, rose 6.6%. Salesforce.com rose 7.09, or 5.6%, to 134.49, after agreeing to buy monitoring firm Radian6 for about $326 million in stock and cash in its largest deal ever. MicroStrategy Inc. added 8.7% after saying it has been selected by Groupon to analyze the company's daily deals, examining the types of goods and services purchased, discounts offered, locations and purchaser demographics. Jos. A. Bank Clothiers added 3.8% after the retailer's fiscal fourth-quarter profit climbed 15%, topping Wall Street's views, as sales and margins rose. Acxiom plunged 23% after saying its chief executive and chief financial offers are resigning. The marketing data company also announced plans to write down the value of its international business and projected disappointing current-quarter earnings below analysts' estimates. Dow Chemical added 0.1% after its chairman and chief executive, Andrew Liveris, paid back the specialty chemical company about $720,000 for personal expenses it mistakenly failed to bill him.
Wednesday's Closing Dow Numbers:
AT&T T $30.71 +0.66 2.2% 52,486,556 NYSE
Alcoa AA $17.64 +0.15 0.86% 23,274,590 NYSE
Amex AXP $45.91 +0.26 0.57% 5,507,757 NYSE
Bank of America BAC $13.45 +0.10 0.75% 120,294,913 NYSE
Boeing BA $73.8 +0.18 0.24% 3,860,788 NYSE
Caterpillar CAT $111.53 +0.99 0.9% 5,602,133 NYSE
Chevron CVX $108.01 +0.64 0.6% 7,838,256 NYSE
Cisco CSCO $17.33 -0.11 0.63% 60,096,854 NASDAQ-GS
Coke KO $66.04 +0.32 0.49% 9,361,660 NYSE
DIS $43.35 +0.41 0.95% 6,978,417 NYSE
DuPont DD $55.37 +0.78 1.43% 6,311,759 NYSE
Exxon XOM $84.49 +1.24 1.49% 15,644,296 NYSE
GE $20.11 +0.25 1.26% 46,810,093 NYSE
Hewlett-Packard HPQ $41.3 -0.19 0.46% 17,313,816 NYSE
Home Depot HD $37.57 +0.13 0.34% 7,718,615 NYSE
Intel INTC $20.46 +0.18 0.89% 54,358,709 NASDAQ-GS
IBM $163.6 +0.72 0.44% 3,382,636 NYSE
JPMorgan JPM $46.45 +0.43 0.93% 26,725,277 NYSE
JNJ $59.38 +0.16 0.27% 10,689,047 NYSE
KFT $31.48 +0.21 0.67% 6,525,868 NYSE
MCD $75.81 +0.44 0.58% 3,463,125 NYSE
MRK $33.3 +0.52 1.59% 17,212,260 NYSE
MSFT $25.61 +0.12 0.47% 36,327,581 NASDAQ-GS
Pfizer PFE $20.3375 +0.0425 0.21% 38,028,608 NYSE
Procter & Gamble PG $61.97 +0.69 1.13% 7,554,700 NYSE
3M MMM $92.47 -0.37 0.4% 3,567,170 NYSE
TRV $59.39 +0.13 0.22% 3,788,843 NYSE
United Technologies UTX $84.23 +0.11 0.13% 2,433,403 NYSE
Verizon VZ $38.46 +0.17 0.44% 25,582,545 DualListed
WMT $52.36 +0.10 0.19% 8,564,290 NYSE
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The following are excerpts from Wed. morning's Blog:
A read of Wednesday's Wall Street Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg) 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 Tuesday's stock prices and related data.
Dow Jones Industrial Average: The Dow Jones Industrial Average closed Tuesday at 12,279.01 up 81.13 points or 0.67% from Monday's close of 12197.88. Of the 30 Dow components 23 gained and 7 declined. For the year the Dow is up 6.06%. The biggest gainer dollar-wise was IBM $162.88 +1.51 0.94% 3,454,930 NYSE and percentage-wise was Home Depot HD $37.7 +1.05 2.86% 16,462,958 NYSE. The biggest decliner dollar-wise and percentage-wise was Hewlett-Packard HPQ $41.11 -1.03 2.44% 26,036,119 NYSE.
WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
Fin Times p22 "Weakness for housebuilders fails to take the shine off wider gains" by Michael Stothard says homebuilders lost ground following weak US housing data but the wider markets were resilient as traders were reluctant to take money off the table ahead of nonfarm payroll numbers on Fri. GE agreed to buy Converteam, a maker of electrification equipment, and shares in GE were up 0.6%.
NYT pB10 "Confidence daa buoys investors" by AP says stocks finished broadly higher after consumer confidence fell less than some analysts had feared.
USA Today p4B "Stocks rise on economic momentum" by Bloomberg says the stock market advanced as Home Depot due to its buyback announcement drove consumer firms higher, and energy shares rose amid speculation that production will increase in the Mid East.
Tuesday's Dow Jones Industrial Average closing numerator was 1,622.42 up 10.72 from Monday's closing numerator of 1,611.70. 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 Tuesday's Dow Jones Industrial Average was $54.08 up 0.36 cents from Monday's average closing price of 53.72. The median closing price of Tuesday's Dow Jones Industrial Average was $45.83 (JPM/AXP) down 0.01 from Monday's median closing price of $45.84. The lowest volume was 3M MMM $92.84 +0.72 0.78% 2,212,134 NYSE and the highest volume was again Bank of America BAC $13.35 -0.02 0.15% 116,891,108 NYSE.
If Tuesday 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 $1,072 ($162,242 - $161,170).
MarketWatch Tuesday 3/29/11 4:27 by Jonathan Cheng says U.S. stocks surged to its seventh advance in nine sessions, reclaiming nearly six weeks of losses to close at their highest level since the outbreak of violence in Libya on Feb. 18. The stock gains, which were fueled by telecommunications and energy companies, came as investors geared up for a slew of critical data points later this week on unemployment and manufacturing that investors hope will show further signs of a strengthening economy. The Dow Jones Industrial Average finished with a gain of 81.13 points, or 0.67%, to 12279.01, while the Standard & Poor's 500-stock index gained 9.25 points, or 0.71%, to finish at 1319.44. The Nasdaq Composite gained 26.21 points, or 0.96%, to 2756.89. The gains were largely powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's (T 30.07, +0.02, +0.07%) bid for Deutsche Telekom's (DTEGY 15.15, +0.13, +0.87%) T-Mobile USA earlier in the month. AT&T, which would become the country's largest phone carrier, gained 69 cents, or 2.4%, to $30.05 while Verizon Communications (VZ 38.25, -0.04, -0.10%) added 54 cents, or 1.4%, to 38.29. Sprint Nextel (S 4.61, -0.01, -0.22%) , the purported loser in an AT&T merger with T-Mobile, slid 16 cents, or 3.4%, to 4.62. "There are only a dozen companies in telecoms, and it looks like AT&T would be the monster," said Scott Armiger, vice president and portfolio manager at Christiana Trust. "With all the swings up and down we've seen in March, some of the telecom advance could also be defensiveness--it's a good place to hide." Armiger pointed to high dividend yields that are attractive to investors looking to switch out of their bond positions. "It's the late money moving out of bonds--the run in corporate credits is over, and it's time to short Treasurys. ... People are just exiting bonds, looking at money-market rates and realizing they have no alternatives, so they go into stocks." Also strong on Tuesday was Home Depot (HD 37.70, +1.05, +2.86%) , which surged 1.05, or 2.9%, to 37.70 to lead the Dow components after the home-improvement retailer said it planned to repurchase $1 billion worth of its shares through an accelerated share-buyback program, using proceeds from issuing $2 billion worth of notes. The stock had fallen 2.1% on Monday after the company announced that debt offering. All of the S&P 500's 10 sectors ended in positive territory, with energy stocks strong as oil pushed back up toward $105 a barrel. Chevron (CVX 107.00, -0.37, -0.35%) gained 1.33, or 1.3%, to 107.37 while Halliburton (HAL 48.95, -0.05, -0.10%) added 1.10, or 2.3%, to 49.00 after saying it expects to step up its activity in Saudi Arabia's Manifa project following talks with the operator. Halliburton also said geopolitical turmoil would knock three or four cents a share off its first-quarter earnings. However, trading volumes were weak for a second straight day, with just 3.6 billion shares changing hands in New York Stock Exchange composite trading with about half an hour of trading left in the session--far below the average daily volume of 4.5 billion shares. Monday, which saw just 3.3 billion shares change hands, was the slowest day of the year. The stock gains came ahead of a three-day run that will feature private-sector payrolls on Wednesday, initial jobless claims on Thursday and the all-important monthly nonfarm payrolls figure on Friday, as well as monthly manufacturing data. "As an investor, given what the reports have been like in unemployment claims, manufacturing and so on, do you want to be short the market going into this 'payroll Friday'? I don't think you do," said James Paulsen, chief investment strategist at Wells Capital Management, pointing to several consecutive months of solid, though unspectacular, jobs numbers. "I'm not saying we get a blowout number this month, but there are enough reports around that suggest we're notching up new jobs, and that's a much bigger event than the Middle East crisis or the European sovereign-debt crisis," he said. "Getting job growth up from 100,000 new jobs to 200,000 means a radically different environment for business." The economic data of the day was mixed, with the latest reading of the Conference Board's consumer-confidence index showing a sharp drop of 8.6 points to 63.4 in March from the previous month, though that decline was smaller than expected. Consumer-discretionary stocks rallied on the news. U.S. home prices also continued their downward trend in January, falling 3.1% to about the same level as in the summer of 2003. Even so, the decline on the S&P/Case-Shiller 20-city index came at a slower pace than feared. General Electric (GE 19.86, +0.11, +0.56%) gained 11 cents, or 0.6%, to 19.86 after the conglomerate said its energy unit is paying $3.2 billion in cash for a 90% stake in French power-conversion company Converteam, a deal that beefs up GE's technology offerings in the oil-and-gas and renewable-energy sectors.Phillips-Van Heusen (PVH) rose 5.03, or 8.4%, to 65.20 after its fourth-quarter profit nearly doubled to $52.2 million from $27 million. Adjusted earnings for the quarter beat market expectations. Home builders were lower after the housing data. Lennar (LEN 19.09, +0.02, +0.10%) dropped 68 cents, or 3.4%, to 19.07 even after swinging to a fiscal first-quarter profit that exceeded market expectations. KB Home (KBH 12.94, -0.25, -1.90%) lost 25 cents, or 1.9%, to 12.94 while D.R. Horton (DHI 11.95, -.00, -0.04%) fell 20 cents, or 1.7%, to 11.95. The dollar rose against the yen to Y82.47 from Y81.72 late Monday, while the euro gained to $1.4105 from $1.4093. Gold finished slightly lower, while crude oil settled higher at $104.79 a barrel. Treasurys fell again, with the yield on the benchmark 10-year note rising to 3.489% for its ninth straight session of rising yields, the longest such streak since April 1990.
Tuesday's Closing Dow Numbers and Wednesday's News:
AT&T T $30.05 +0.69 2.35% 41,525,011 NYSE: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
WSJ pB2 "AT&T deal troubles sates" by Roger Cheng, Fin Times p15 "NY state attorney to review AT&T deal" by Paul Taylor, NYT pB1 "As regulators weigh AT&T bid, a look at wireless markets abroad" by Jena Wortham say several state attorneys general raised concerns about AT&T's bid for T-Mobile as NY Atty Gen vows review.
Alcoa AA $17.49 +0.25 1.45% 18,972,575 NYSE: No mentions found.
Amex AXP $45.65 -0.07 0.15% 4,999,302 NYSE: No mentions found.
Bank of Am BAC $13.35 -0.02 0.15% 116,891,108 NYSE: No mentions found.
Boeing BA $73.62 +0.32 0.44% 4,780,679 NYSE: No mentions found.
CAT $110.54 +1.14 1.04% 5,765,746 NYSE: No mentions found.
Chevron CVX $107.37 +1.33 1.25% 6,939,865 NYSE: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
CSCO $17.44 +0.31 1.81% 57,074,418 NASDAQ-GS: No mentions found.
Coke KO $65.72 +0.69 1.06% 5,749,577 NYSE: WSJ pB4 "Coke get serious about Global Fanta" by Paul Ziobro says Coke is giving Fanta, its 2nd largest int'l brand, a unified global marketing push, a treatment it has given only to Cole and to Sprite.
DIS $42.94 +0.42 0.99% 5,454,221 NYSE: No mentions found.
DuPont DD $54.59 +0.66 1.22% 3,650,708 NYSE: No mentions found.
Exxon XOM $83.25 -0.22 0.26% 16,247,199 NYSE: No mentions found.
GE $19.86 +0.11 0.56% 35,963,556 NYSE: WSJ pB1 "GE takes new leap in energy business" by Bob Sechler, Fin Times p13 "GE agree3s $3.2 bn energy deal" by Jeremy Lemer, NYT pB7 "GE to buy tech firm for $3.2 bil" by Tom Zeller, USA Today p1B "E to acquire Converteam", AJC pA14 say GE's energy unit agreed to pay $3.2 bil in cash for a controlling stake in French power conversion firm Converteam, a deal that beefs up GE's tech offerings int he oil & gas and renewable energy sectors & marks GE's latest in a string of deals totaling $11 bil over the last 6 monts to expand its energy business.
Fin Times p22 "Weakness for housebuilders fails to take the shine off wider gains" by Michael Stothard says homebuilders lost ground following weak US housing data but the wider markets were resilient as traders were reluctant to take money off the table ahead of nonfarm payroll numbers on Fri. GE agreed to buy Converteam, a maker of electrification equipment, and shares in GE were up 0.6%.
Hewlett-Packard HPQ $41.11 -1.03 2.44% 26,036,119 NYSE: WSJ pB2 "Apple, Microsoft vie to parse words" by Ian Sherr says Microsoft & Apple have hired linquists to be experts in their battle over whether the gov can grant a trademark for the term 'app store." Google, Hewlett-Packard and RIM have set up digital shops.
Home Depot HD $37.7 +1.05 2.86% 16,462,958 NYSE: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng, AJC pA14 say stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
NYT pB2 "A bad record on buybacks" says American firms have a bad track record of buying their own shares high and selling them low. Home Depot's $1 bil program adds to the $136 bil of buybacks announced this year.
USA Today p4B "Stocks rise on economic momentum" by Bloomberg says the stock market advanced as Home Depot due to its buyback announcement drove consumer firms higher, and energy shares rose amid speculation that production will increase in the Mid East.
Intel INTC $20.28 -0.06 0.29% 59,409,476 NASDAQ-GS: No mentions found.
IBM $162.88 +1.51 0.94% 3,454,930 NYSE: No mentions found.
JPMorgan JPM $46.02 +0.06 0.13% 17,817,886 NYSE: No mentions found.
Johnson & Johnson JNJ $59.22 -0.02 0.03% 9,281,707 NYSE: WSJ pB2 "J&J issues more drug recalls" by Peter Loftus says J&J issued another round of recalls of otc medicines citing quality lapses similar to those in a series of recalls since '09. It recalled 34,000 bottles of Tylenol 8 hour extended release caplets after a complaint of a musty or moldy odor which they believe was caused by trace amount of a chemical called TBA.
KFT $31.27 -0.20 0.64% 8,734,750 NYSE: No mentions found.
MCD $75.37 +0.37 0.49% 3,007,721 NYSE: No mentions found.
MRK $32.78 +0.33 1.02% 9,902,299 NYSE: No mentions found.
Microsoft MSFT $25.49 +0.08 0.31% 40,726,260 NASDAQ-GS: WSJ pB2 "Apple, Microsoft vie to parse words" by Ian Sherr says Microsoft & Apple have hired linquists to be experts in their battle over whether the gov can grant a trademark for the term 'app store." Google, Hewlett-Packard and RIM have set up digital shops.
Pfizer PFE $20.38 +0.11 0.54% 33,632,015 NYSE: No mentions found.
Procter & Gamble PG $61.28 +0.62 1.02% 7,673,086 NYSE: WSJ pB4 "Unilever takes on the ugly underarm" by Ellen Byron says P&G introduced a new line called Secret Natural Mineral which uses calcium carbonate to curb odor.
3M MMM $92.84 +0.72 0.78% 2,212,134 NYSE: No mentions found.
TRV $59.26 +0.35 0.59% 2,864,953 NYSE: No mentions found.
United Tech UTX $84.12 +0.65 0.78% 3,351,869 NYSE: No mentions found.
Verizon VZ $38.29 +0.54 1.43% 22,991,380 DualListed: WSJ pC7 "Telecoms fuel rise by Dow" by Jonathan Cheng says stocks rose for the 7th time in 9 sessions, reclaiming nearly 6 weeks for losses to close at their highest level since the Libyan violence broke out on 2/18. The gains were powered by telecom stocks, which surged on continued optimism about consolidation in the industry after AT&T's bid for T-Mobile which would make AT&T the largest pone carrier, it gained 69 cents while Verizon added 54 cents. sprint Nextel, the loser in the AT&T merger, slid 16 cents. Home Depot, charted under Good News, led the Dow one day after it led the decliners as it said it would repurchase $1 bil of its shares using proceeds from issuing $2 bil of notes. Chevron gained $1.33.
Walmart WMT $52.26 +0.07 0.13% 8,705,407 NYSE: WSJ pA3 "Court weights bias claim" by Jess Bravin, Daily Report p1 "Walmart class action runs into stiff resistance" by Tony Mauro, Fin Times p6 "Walmart hits back at women's claim" by Barney Jopson, NYT pB1 "Class action at Wamart has justices in conflict' by Adam Liptak, USA Today p1B "Is Walmart lawsuit too big" by Joan Biskupic say the massive class action against Walmart ran into stiff resistance at the US Supreme Court on Tues when a Justice wanted to know what was the unlawful policy that Walmart adopted? Also WSJ editorial at pA18 "The Walmart Wateshed."
NYT pB1 "Walmart no, Aldi yes?" by Stephanie Clifford says that while Walmart plans to get into NYC, the giant retailer Aldi has slipped in unnoticed in Queens.
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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. (Chicago, 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 as of 3/21/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:
1. Exxon Mobil XOM $401 [5]
2. Procter & Gamble PG 243 [4]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 207 [2]
5. GE 204 [10.5]
6. IBM 190 [1]
7. WalMart WMT 184 [3.5]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 165 [6]
10. Pfizer PFE 161 [8]
11. Johnson & Johnson JNJ 160 [3]
12. Coke KO 144 [2.5]
13. Bank of America BAC 142 [10]
14. Intel INTC 111 [5.5]
15. Verizon VZ 101 [3]
16. Merck MRK 98 [3]
17. Cisco CSCO 95 [5.5]
18. Hewlett-Packard HPQ 89 [2]
19. Disney DIS 78 [2]
20. McDonald's MCD 76 [1]
21. United Technologies UTX 74 [1]
22. Caterpillar CAT 67 [.5]
23. 3M MMM 63 [.5]
24. Home Depot HD 59 [1.5]
25. Kraft KFT 54 [2]
26. American Express AXP 53 [1]
27. Boeing BA 51 [1]
28. DuPont DD 49 [1]
29. Travelers TRV 25 [.5]
30. Alcoa AA 17 [1]
Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 3/21/11:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 3/10/11 Proxy Statement re: Annual Meeting of Stockholders to be held on 4/29/11 in Little Rock, Ark
3/7/11 8K re; departure of Richard G. Lindner as CFO to be replaced by John T. Stephens
3/1/11 10K re: Fiscal year ended 12/31/10
Alcoa AA: 3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA
2/17/11 10K re: Fiscal year ended 12/31/10
2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan
American Express AXP: 3/18/11 8K re: Reg. FD disclosures re: its Comprehensive Capital Plan re: share repurchases & dividends
3/15/11 8K re: delinquency & write-off statistics for 3 months ended 2/28/11
3/4/11 Prelim Proxy Statement re: Shareholder Meeting to be held 5/2/11 in NYC
2/2811 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: delinquency & write0off statistics for 3 months ended 1/31/11
1/18/11 8K re: comp to CEO Chanault
Bank of Am BAC: 3/17/11 8K re: issuance of $1.5 bil of 3.625% of Senior Notes due 2016
3/16/11 8K re: election of Mukesh D. Ambani to Board of Directors & Compensation & Benefit Committee & Audit Committee
1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results
Boeing BA: 3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago
2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama
Caterpiller CAT: 3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics
2/22/11 10K re: Fiscal year ended 12/31/10
2/18/11 8K re: dealer statistics for January
Chevron CVX:
2/24/11 10K re: Fiscal year ended 12/31/10
2/1/11 8K re: compensation to officers including CEO John Watson
Cisco CSCO 3/18/11 8K re: initiation of quarterly cash dividends of 6 cents per share to be paid 4/20
3/16 & 3/15 8Ks re: issuance of debt securities
3/9/11 8K re: recasting of fin'l stmts due to combining Asia Pacific & Japan operations
2/23/11 8K re: election of Gary B. Moore as COO
2/23/11 10Q re: Quarter ended 1/29/11
Coke KO 3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta
2/28/11 10K re: Fiscal year ended 12/31/10
2/17/11 8K re: election of Evan G. Greenberg to Board of Directors & Audit Comm.
2/17/11 8K re: Amendment of Stock Option Plan
Disney DIS 3/18/11 two 8Ks re: amendment to employment Agreement of CEO Robert A. Iger & other execs.
3/2/11 Proxy Materials re: shareholder proposal re: exec compensation
2/25/11 8K re: $2.25 bil 4 year Credit Agreement
2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual shareholder meeting to be held 3/23/11 at Salt Lake City, Utah
DuPont DD: 3/18/11 Proxy re: Annual Stockholders Meeting to be held on 4/27/11 in Wilmington, DE
3/8/11 8K re: retirement of Samuel W. Bodman & John T. Dillon from Board of Directors due to reaching age 72
2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP
ExxonMobil XOM: 3/15/11 8K re: results of operations presentation at analyst meeting
2/28 10K/A & 2/25 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: FD Disclosure re: worldwide proved oil and gas reserve
GE: 3/14/11 Proxy re: Annual Shareholders Meeting on 4/27/11 in Salt Lake City, Utah
2/25/11 10K re: Fiscal year ended 12/31/10
2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal
Hewlett-Packard HPQ: 3/11/11 Proxy Materials re: opposition to ISS voting recommendations re: exec comp.
3/11/11 & *k 2/22/11 re: Quarter ended 1/31/11
2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors
Home Depot HD: 3/2/11 8K re: approval of Stock Option Plan
2/22/11 8K re: fin'l results of fiscal year & quarter ended 1/30/11
1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada
Intel INTC: 2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10
IBM: 3/18/11 8K re: settlement with SEC of bribery charges in Asia for $10 mil
3/8/11 8K re: FD disclosure re: presentation at investor briefing
3/7/11 Proxy rel Annual Stockholders Meeting on 4/26 in St. Louis, Mo.
2/22/11 10K re: Fiscal year ended 12/31/10
JPMorganChase JPM: 2/28/11 10K re: fiscal year ended 12/31/10
2/24/11 8K re: clsoing of public offering of $3 bil of 3.45% Notes due 2016
Johnson & Johnson JNJ : 3/16/11 Proxy re: Annual Shareholders Meeting on 4/28 in New Brunswick, NJ
3/10/11 8K re: Entering into a consent decree with the FDA regarding its oversight of JNJ's McNeil Unit plants in Puerto Rico and Pennslyvania
2/25/11 10 K e: fiscal year ended 1/2/11
Kraft KFT: 3/14/11 8K re: departure of CFO timothy R. McLevish to be replaced by David A. Brearton
2/28/11 10K re: Fiscal year ended 12/31/10
2/22/11 8K re: FD disclosure re: presentation at Consumer Analyst Group of NY
McDonalds MCD: 3/9/11 8K re: FD disclosure re: comparable sales rising 3.9% in Feb.
3/3/11 Proxy re: Annual Meeting of Shareholders on 5/19/11 at Oak Brook, Ill.
2/25/11 10K re: fiscal year ended 12/31/10
2/8/11 8K re: Jan 2011 global sales
Merck MRK: 2/28/11 10K re: Fiscal year ended 12/31/10
Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10
Pfizer PFE: 2/28/11 10K re: fiscal year ended 12/31/10
Procter & Gamble PG: 3/1/11 8K re: resignation of Rajat KJ. Gupta from Board of Directors
2/11/11 8K re: election of Meg Whitman to Board of Directors
3M MMM: 3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline
2/16/11 10K re: Fiscal year ended 12/31/10
2/16/11 & 2/15/11 four 8Ks re: adoption by four executives of pre-arranged trading programs
Travelers TRV: 2/17/11 10K re: Fiscal year ended 12/31/10
1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q
United Technologies UTX: 2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ
2/10/11 10K for FY 12/31/10
Verizon Communications Inc. VZ: 3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)
2/28/11 10K re: fiscal year ended 12/31/10
2/3/11 8K re: increase to stock repurchase program
WalMart WMT: 2/22/11 8K re: revising fin'l info for prior operating results
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