4/23/11 Sat/Fri JPMorgan Settles Military Lending Case & Returns $800 Mil of Lehman Funds

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Post No. 982 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, and a fairly recent ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings.

A read of the print editions of Monday's Barron' & Monday's Investor's Business Daily, the combined Sat/Sun issue of each of Wall Street Journal & Financial Times, Friday's Wall Street Journal, Sat. & Fri. New York Times, Friday's USA Today & Sat. & Fri's Atlanta Journal Constitution yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Thursday's stock prices and related data.

Dow Jones Industrial Average: The U.S. Stock Market was Closed Friday due to Good Friday. The Dow Jones Industrial Average closed Thursday at 12,505.59 up 52.45 or 0.42% from Wednesday's close of 12,453.54. For the year the Dow is up 8.05%. Of the 30 Dow components 19 gained, Merck was unchanged and 10 declined. The biggest gainer dollar-wise and percentage-wise was Travelers TRV $61.32 +2.19 3.7% 4,884,238 NYSE. The biggest decliner dollar-wise was McDonalds MCD $76.91 -1.49 1.9% 9,362,655 NYSE and percentage-wise was Pfizer PFE $19.79 -0.60 2.94% 138,950,035 NYSE.

Fri WSJ pC5" Blue chips finish week strong with 52 point gain" by Kristina Peterson says blue chip stocks pushed to a multiyear high in a holiday shortened week as robust earnings reports overshadowed lackluster US economic data. For the week, the Dow rose 1.3% and is up 4 of the past 5 weeks. Volume was light on Thurs, only 3.7 bil shares traded on the NYSE below the average daily volume of 4.37 bil. Travelers rose $2.19 after it boosted its dividend as 1Q profit exceeded forecasts. Verizon slid 88 cents after its 1Q profit more than tripled but its average rev per use rose by less than expected. Verizon is charted under Bad News as average rev per user increased but it missed expectations.

Fri NYT pB8 "Shares rise on earnings, but some leading companies falter" by AP says strong earnings reports from big firms like Apple& UnitedHealth lifted stocks across the market on Thurs. Apple rose as it said it sold 18.65 mil iPhones in the latest quarter as Verizon Wireless started selling the phones in Feb, ending 3 and a half years of exclusivity by AT&T. Travelers rose 4% leading the Dow after reporting stronger earnings & a 14% dividend increase. It benefited from a decline in losses from catastrophe claims & an increase in corp insurance sales. McDonalds fell 2% despite beating analysts' earnings estimates after it said the cost of its ingredients will rise 5%. GE fell 2% despite beating estimates as its rev as its industrial businesses was not growing as quickly as its rivals.

Mon Inv. Bus. Daily pA1 "Stocks up in slow trade; Nasdaq clears resistance" by Paul Whitfield says stocks tacked on moderate gains Thurs in reduced volume, capping a holiday shortened week. The action was up in lower volume as the market is in a confirmed uptrend.

Fri USA Today p4B "Rising economic optimism helps stocks" by Bloomberg says stocks rallied Thurs with the S&P 50 index approaching its bull market high, as higher than estimated earnings at firms from Apple to Morgan Stanley bolstered optimism in the economy. Material stocks including Alcoa, which rose 33 cents, led gains as commodity prices increased for the 3rd day in a row.

As of the close of the market Thursday, the current divisor for the Dow Jones Industrial Average found at page B4 of Saturday's Wall St. Journal is 0.132129493. The trailing P/E is 14.70 down from Thursday's trailing P/E of 14.99 (year ago it was 17.19); the P/E estimate is 12.65 unchanged from Thursday's P/E estimate of 12.65 (year ago it was 14.00), and the dividend yield is 2.35 down from Thursday's dividend yield of 2.36 (last year it was 2.45). 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 1,652.36 up 6.88 from Wednesday's closing numerator of 1,645.48. 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 Thursday's Dow Jones Industrial Average was $55.08 up 0.23 from Wednesnday's average closing price of $54.85. The median closing price of Thursday's Dow Jones Industrial Average was $45.89 (AXP/JPM) up 0.11 from Wednesday's median closing price of $45.78. The lowest volume was 3M MMM $93.92 +0.16 0.17% 2,899,809 NYSE and the highest volume was again Bank of America BAC $12.31 +0.04 0.33% 100,144,829 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 made $688 ($165,236 - $164,548).

MarketWatch Thursday 4/21/1 4:19 pm by Laura Mandaro says U.S. stocks rode investor enthusiasm for corporate earnings into a third straight day Thursday, lifting weekly gains for the holiday-shortened trading span to as much as 2%. The Dow Jones Industrial Average ended up 52.45 points, or 0.4%, at 12,505.99, led by a 3.7% gain in Travelers Cos. after the insurer reported a surge in profits and hiked its dividend. The S&P 500 gained 7.02 points, or 0.5%, to 1,337.38, led by chemicals companies and tech stocks. F5 Networks Inc. and JDS Uniphase Corp. gained more than 5% each. The Nasdaq Composite rose 17.65 points, or 0.6%, to 2,820.16. For the week, the Dow and S&P 500 rose 1.3% and the Nasdaq gained 2%.

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

AT&T T $30.68 +0.55 1.83% 25,237,085 NYSE: Barron's p14 "Week review" says GE reported strong 1Q results helped by a big profit increase for GE Capital. AT&T 1Q profit jumped by 39% & Verizon Comm earned a 1Q profit of 51 cents a share vs 16 cents last year.

Barron's p49 "Spring loaded to grow" is an interview by Grace L. Williams with Capital Advisors Growth Fund manager, Channing Smith who likes AT&T, GE, Johnson & Johnson, Kraft, Procter & Gamble & Walmart.

Barron's "Tech trader" p33 by Tiernan Ray talks about video conferencing systems and Polycom which competes with Cisco, says Intel had good earnings and queries why nearly 50 years after AT&T promised the picturephone people don't use videophones.

Sat Fin Times p18 "iPhoneocalypse" says Verizon added 15 times as many postpaid subscribers as AT&T, this past quarter during which AT&T lost US exclusivity for the iPhone.

Fri WSJ pC10 "IPhone's good reception" by Martin Peers and "Overhead" says Verizon Wireless' iPhone launch was good as Verizon said Thurs it activated 2.2 mil iPhones in less than 8 weeks after the launch. Combined with AT&T's 3.6 mil for the full quarter, 5.8 mil new iPHones were sold in 1Q, the highest quarterly number in the US ever. The current iPhone on Verizon won't work in many other nations unlike AT&T's version so the next version of the iPhone will be a global device.

Fri WSJ pB3 "AT&T makes deal case to FCC" by Amy Schatz says AT&T told the FCC that its $39 bil acquisition of T-Mobile USA will improve service and promote, not diminish competition in the US wireless market as it officially kicked off is campaign to win regulatory clearance.

Fri WSJ pC5" Blue chips finish week strong with 52 point gain" by Kristina Peterson says blue chip stocks pushed to a multiyear high in a holiday shortened week as robust earnings reports overshadowed lackluster US economic data. For the week, the Dow rose 1.3% and is up 4 of the past 5 weeks. Volume was light on Thurs, only 3.7 bil shares traded on the NYSE below the average daily volume of 4.37 bil. Travelers rose $2.19 after it boosted its dividend as 1Q profit exceeded forecasts. Verizon slid 88 cents after its 1Q profit more than tripled but its average rev per use rose by less than expected. Verizon is charted under Bad News as average rev per user increased but it missed expectations.

Fri NYT pB8 "Shares rise on earnings, but some leading companies falter" by AP says strong earnings reports from big firms like Apple& UnitedHealth lifted stocks across the market on Thurs. Apple rose as it said it sold 18.65 mil iPhones in the latest quarter as Verizon Wireless started selling the phones in Feb, ending 3 and a half years of exclusivity by AT&T. Travelers rose 4% leading the Dow after reporting stronger earnings & a 14% dividend increase. It benefited from a decline in losses from catastrophe claims & an increase in corp insurance sales. McDonalds fell 2% despite beating analysts' earnings estimates after it said the cost of its ingredients will rise 5%. GE fell 2% despite beating estimates as its rev as its industrial busiensses was not growing as quickly as its rivals.

Alcoa AA $16.97 +0.33 1.98% 23,716,706 NYSE: Mon Inv. Bus Daily pA3 "Conservation can pay off" by Sonja Carberry says Alcoa became a minority investorin Electronic Recyclers International.

Fri USA Today p4B "Rising economic optimism helps stocks" by Bloomberg says stocks rallied Thurs with the S&P 50 index approaching its bull market high, as higher than estimated earnings at firms from Apple to Morgan Stanley bolstered optimism in the economy. Material stocks including Alcoa, which rose 33 cents, led gains as commodity prices increased for the 3rd day in a row.

American Express AXP $47.11 +0.11 0.23% 11,802,638 NYSE:

Bank of America BAC $12.31 +0.04 0.33% 100,144,829 NYSE: Barron's Cover Story "Big Money Poll" says America's portfolio chiefs are bullish on stocks. Their picks include Cisco, Microsoft & Bank of America; their pans, Netflix. Last week upbeat earnings reports came from Intel, IBM & United Technologies.

Boeing BA $75.44 +0.37 0.49% 3,129,879 NYSE: Barron's "Week Preview" says on Tuesday 4/26 3M releases its 1Q earnings and it is expected to earn $1.44 a share compared with $1.40 a year earlier; issue will be impact of rising commodity costs. Coke on Tues releases its 1Q earnings and is expected to earn 87 cents a share vs 80 cents last year; issue would be higher aluminum costs. On Wed Boeing reports its 1Q earnings and the number of orders for the 787 due to begin service in 3Q. On Thurs 4/28 Procter & Gamble reports its 3Q earnings and is expected to earn 97 cents a share vs. 83 cents.

Sat NYT pB1 "Labor board case against Boeing points to fights to come" by Steven Greenhouse says the Nat'l Labor Relations Board filed a case vs. Boeing last week seeking to force it to move airplane production from a nonunion plant in SC to a unionized one in Washington State.

Caterpillar CAT $109.42 +1.14 1.05% 4,005,497 NYSE:

Chevron CVX $108.13 +0.32 0.3% 4,839,886 NYSE:

Cisco CSCO $16.94 +0.01 0.06% 56,711,526 NASDAQ-GS: Barron's Cover Story "Big Money Poll" says America's portfolio chiefs are bullish on stocks. Their picks include Cisco, Microsoft & Bank of America; their pans, Netflix. Last week upbeat earnings reports came from Intel, IBM & United Technologies.

Barron's p51 "Patent protection" by Thomas G. Donlan says the Supreme Court heard a case involving Microsoft last week and it revolved around the XML code. i4i is claiming Microsoft breaches its rights and is arguing the Patent Office's decision should be upheld once it issues a patent. Siding with Microsoft are Intel, Google, Cisco and Apple.

Barron's "Tech trader" by Tiernan Ray talks about video conferencing systems and Polycom which competes with Cisco, says Intel had good earnings and queries why nearly 50 years after AT&T promised the picturephone people don't use videophones.

Coke KO $67.88 +0.03 0.04% 5,378,851 NYSE: Barron's "Week Preview" says on Tuesday 4/26 3 M releases its 1Q earnings and it is expected to earn $1.44 a share compared with $1.40 a year earlier; issue will be impact of rising commodity costs. Coke on Tues releases its 1Q earnings and is expected to earn 87 cents a share vs 80 cents last year; issue would be higher aluminum costs. On Wed Boeing reports its 1Q earnings and the number of orders for the 787 due to begin service in 3Q. On Thurs 4/28 Procter & Gamble reports its 3Q earnings and is expected to ern 97 cents a share vs. 83 cents.Sat NYT pA14 "A Passover toast to a rabbi known for social activism and for kosher Coca-Cola" by Samuel G. Freedman is an interesting article about Rabbi Tuvia Geffen whose most enduring contribution to the Jewish people was kosher for Passover Coca-Cola.

Disney DIS $42.27 +0.23 0.55% 4,787,967 NYSE: Fri WSJ pB7 "Hulu blocks website from RIM's new tablet" by Nat Worden says Hulu which operates the video website owned by several major media forms, including Walt Disney has blocked access to its content on BlackBerry maker Research in Motion's new tablet devie, the PlayBook because Hulu has a straegy of denying free access to its content.

DuPont DD $55.91 +0.54 0.98% 5,923,320 NYSE: Fri NYT pB5 "DuPont tops forecasts; profit up 27%" by Bloomberg, Mon Inv. Bus. Daily pA1 "DuPont tops on agriculture" say DuPont posted a 1Q profit that beat estimates as sales of titanium diozide pigment & genetically modified seeds gained. Net income climbed 27% to $1.43 bil or $1.52 a share, vs $1.13 bil or $1.24 a share a year earlier.

Exxon XOM $86.36 +0.71 0.83% 12,564,264 NYSE: Barron's pm8 "Debt downgrade likelier than not" by Tom Sullivan says 6 states now have better credit profiles than the US and 4 US triple A rated nonfin'l corps also have a better outlook: ADP, Exxon, Johnson & Johnson & Microsoft.

GE $19.95 -0.45 2.21% 121,117,588 NYSE: Barron's p14 "Week review" says GE reported strong 1Q results helped by a big profit increase for GE Capital. AT&T 1Q profit jumped by 39% & Verizon Comm earned a 1Q profit of 51 cents a share vs 16 cents last year.

Barron's pM3 "The trader" by Kopin Tan says GE and Intel are reporting surging profits and United Technologies told investors to expect even bette ernings this year.

Barron's p49 "Spring loaded to grow" is an interview by Grace L. Williams with Capital Advisors Growth Fund manager, Channing Smith who likes AT&T, GE, Johnson & Johnson, Kraft, Procter & Gamble & Walmart.

Fri WSJ pB3 "GE earnings soar on lending arm" by Bob Sechler, Fri NYT pB3 "GE posts earnngs that exceed forecasts & raises dividend" by Christine Hauser say GE reported a 77% increase in 1Q profit, leaning heavily on its large lending biz even as its core industrial operations picked up. GE Capital's profit tripled to $1.8 bil as a rev rose 3% due to decrease in bad loan reserves. GE had a profit of $3.43 bil or 31 cents a share for the quarter up from $1.95 bil or 17 cents a year earlier. Rev rose 6.2% to $38.45 bil.

Fri NYT pB8 "Shares rise on earnings, but some leading companies falter" by AP says strong earnings reports from big firms like Apple& UnitedHealth lifted stocks across the market on Thurs. Apple rose as it said it sold 18.65 mil iPhones in the latest quarter as Verizon Wireless started selling the phones in Feb, ending 3 and a half years of exclusivity by AT&T. Travelers rose 4% leading the Dow after reporting stronger earnings & a 14% dividend increase. It benefited from a decline in losses from catastrophe claims & an increase in corp insurance sales. McDonalds fell 2% despite beating analysts' earnings estimates after it said the cost of its ingredients will rise 5%. GE fell 2% despite beating estimates as its rev as its industrial busiensses was not growing as quickly as its rivals.

Hewlett-Packard HPQ $40.99 +0.10 0.24% 9,428,496 NYSE:

Home Depot HD $37.8 -0.14 0.37% 8,342,257 NYSE: Sat AJC "In Canda, Home Depot bans dogs from stores" by Arielle Kass says this happened after an associate was bitten on the job. Also, the associate was bitten on the nose.

Intel INTC $21.46 +0.05 0.23% 77,351,706 NASDAQ-GS: Barron's p51 "Patent protection" by Thomas G. Donlan says the Supreme Court heard a case involving Microsoft last week and it revolved around the XML code. i4i is claiming Microsoft breaches its rights and is arguing the Patent Office's decision should be upheld once it issues a patent. Siding with Microsoft are Intel, Google, Cisco and Apple.

Barron's pM3 "The trader" by Kopin Tan says GE and Intel are reporting surging profits and United Technologies told investors to expect even bette ernings this year.

Barron's Cover Story "Big Money Poll" says America's portfolio chiefs are bullish on stocks. Their picks include Cisco, Microsoft & Bank of America; their pans, Netflix. Last week upbeat earnings reports came from Intel, IBM & United Technologies.

Barron's "Tech trader" by Tiernan Ray talks about video conferencing systems and Polycom which competes with Cisco, says Intel had good earnings and queries why nearly 50 years after AT&T promised the picturephone people don't use videophones.

IBM $168.28 +3.53 2.14% 6,108,000 NYSE: Sat. WSJ pB16 "Overheard" says Microsoft may be passed by IBM in terms of market cap. Microsoft's market value is $214.4 bil, $9.2 bil ahead of IBM's $205.2 bil and the last time they were this close was late '96.

Barron's Cover Story "Big Money Poll" says America's portfolio chiefs are bullish on stocks. Their picks include Cisco, Microsoft & Bank of America; their pans, Netflix. Last week upbeat earnings reports came from Intel, IBM & United Technologies.

JPMorgan JPM $44.68 +0.12 0.27% 24,192,999 NYSE: Sat WSJ pB2 "JPMorgan settles military lending case" says JPM agreed to a $27 mil settlement to resolve a class action lawsuit that said it overcharged thousands of active duty military members and wrongfully foreclosed on the homes of a handful of members.

Sat Fin Times p10 "JPMorgan returns Lehman funds" by Telis Demos says JPM will return $800 mil to the trustee overseeing the collection of money owed to customers of Ham Brothers brokder-dealer bis.

Johnson & Johnson JNJ $64.07 -0.32 0.5% 11,573,694 NYSE: Barron's p16 "Deal could cure some J&J ills" by Lawrence Strauss says shares of JNJ are down 0.4% since Barron's wrote favorably about it last May 3, while S&P has risen 13% as it has been embarrassed by costly recalls for Tylenol and Motrin. The stock trades at a reasonable 13 times this year's estimated $4.84 a share and a dividend yield around 3.4%.

Barron's p49 "Spring loaded to grow" is an interview by Grace L. Williams with Capital Advisors Growth Fund manager, Channing Smith who likes AT&T, GE, Johnson & Johnson, Kraft, Procter & Gamble & Walmart.

Barron's pm8 "Debt downgrade likelier than not" by Tom Sullivan says 6 states now have better credit profiles than the US and 4 US triple A rated nonfin'l corps also have a better outlook: ADP, Exxon, Johnson & Johnson & Microsoft.

Kraft KFT $33.38 -0.18 0.54% 6,997,414 NYSE: Barron's p49 "Spring loaded to grow" is an interview by Grace L. Williams with Capital Advisors Growth Fund manager, Channing Smith who likes AT&T, GE, Johnson & Johnson, Kraft, Procter & Gamble & Walmart.

McDonalds MCD $76.91 -1.49 1.9% 9,362,655 NYSE: Fri pB4 "McDonald's Profit is up; so are costs" by AP, Mon Inv Bus Daily pA1 "Foodcosts bite McDonald's" say McDonalds said it expected more price increases for beef and other ingredients, sending its shares down even as it reported iproved earnings for 1Q. Net income rose 11% to $1.2 bil or $1.15 a share vs $1.1 bil or $1 a share. Rev increased 9% to $6.1 bil.

Fri NYT pB8 "Shares rise on earnings, but some leading companies falter" by AP says strong earnings reports from big firms like Apple& UnitedHealth lifted stocks across the market on Thurs. Apple rose as it said it sold 18.65 mil iPhones in the latest quarter as Verizon Wireless started selling the phones in Feb, ending 3 and a half years of exclusivity by AT&T. Travelers rose 4% leading the Dow after reporting stronger earnings & a 14% dividend increase. It benefited from a decline in losses from catastrophe claims & an increase in corp insurance sales. McDonalds fell 2% despite beating analysts' earnings estimates after it said the cost of its ingredients will rise 5%. GE fell 2% despite beating estimates as its rev as its industrial busiensses was not growing as quickly as its rivals.

MRK $34.04 unch unch 15,699,301 NYSE:

Microsoft MSFT $25.52 -0.24 0.93% 46,862,251 NASDAQ-GS: Barron's p51 "Patent protection" by Thomas G. Donlan says the Supreme Court heard a case involving Microsoft last week and it revolved around the XML code. i4i is claiming Microsoft breaches its rights and is arguing the Patent Office's decision should be upheld once it issues a patent. Siding with Microsoft are Intel, Google, Cisco and Apple.

Barron's pm8 "Debt downgrade likelier than not" by Tom Sullivan says 6 states now have better credit profiles than the US and 4 US triple A rated nonfin'l corps also have a better outlook: ADP, Exxon, Johnson & Johnson & Microsoft.

Barron's Cover Story "Big Money Poll" says America's portfolio chiefs are bullish on stocks. Their picks include Cisco, Microsoft & Bank of America; their pans, Netflix. Last week upbeat earnings reports came from Intel, IBM & United Technologies.

Sat. WSJ pB16 "Overheard" says Microsoft may be passed by IBM in terms of market cap. Microsoft's market value is $214.4 bil, $9.2 bil ahead of IBM's $205.2 bil and the last time they were this close was late '96.

Fri WSJ pB5 "Microsoft to boost cash pay for employees" by Nick Wingfield says Mcirosoft will sweeten pay to stop people leaving fro Google and Facebook and other firms.

Fri WSJ pC1 "Investors searching for Baidu's next chapter" by Tom Orlik says Baidu's new online video platform has generated traffic but no profit. Baidu is testing a web browser that will compete with Microsoft & Google.

Fri NYT pB6 "Despite Microsoft partnership, Nokia continues to fade in race with rivals' by Kevin J. O'Brien says Nokia is still the struggling market leader in mobile phones and will cut costs by 20% over the next 3 years.Nokia confirmed that it had signed its contact with Microsoft to get Windows operating system for Nokia's smartphones that was announced on 2/11. Since then, Nokia's stock price has fallen by a third.

Pfizer PFE $19.79 -0.60 2.94% 138,950,035 NYSE: Fri WSJ pC3 "Pfizer says treatment's study had one drug related death" by Peter Loftus says Pfizer had 4 patients die in a clinical trial of an experimental treatment for rheumatoid arthritis. The drug, tofacitinib is an oral pil that cold be an alternative to injectible & infused drugs including Abbott Labs' Humira.

Procter & Gamble PG $63.27 -0.45 0.71% 10,474,881 NYSE: Barron's "Week Preview" says on Tuesday 4/26 3 M releases its 1Q earnings and it is expected to earn $1.44 a share compared with $1.40 a year earlier; issue will be impact of rising commodity costs. Coke on Tues releases its 1Q earnings and is expected to earn 87 cents a share vs 80 cents last year; issue would be higher aluminum costs. On Wed Boeing reports its 1Q earnings and the number of orders for the 787 due to begin service in 3Q. On Thurs 4/28 Procter & Gamble reports its 3Q earnings and is expected to ern 97 cents a share vs. 83 cents.

Barron's p49 "Spring loaded to grow" is an interview by Grace L. Williams with Capital Advisors Growth Fund manager, Channing Smith who likes AT&T, GE, Johnson & Johnson, Kraft, Procter & Gamble & Walmart.

3M MMM $93.92 +0.16 0.17% 2,899,809 NYSE: Barron's "Week Preview" says on Tuesday 4/26 3 M releases its 1Q earnings and it is expected to earn $1.44 a share compared with $1.40 a year earlier; issue will be impact of rising commodity costs. Coke on Tues releases its 1Q earnings and is expected to earn 87 cents a share vs 80 cents last year; issue would be higher aluminum costs. On Wed Boeing reports its 1Q earnings and the number of orders for the 787 due to begin service in 3Q. On Thurs 4/28 Procter & Gamble reports its 3Q earnings and is expected to ern 97 cents a share vs. 83 cents.

Travelers TRV $61.32 +2.19 3.7% 4,884,238 NYSE: Fri WSJ "Travelers boosts its dividend" by Erik Holm says Travelers boosted its dividend Thurs as 1Q profit exceeded analyst expectations & it sounded an optimistic note about customers buying more coverage. Net income rose 30% to $839 mil or $1.92 a share, helped in part by a decline in claims tied to natural catastrophes. Operating results of $1.89 a share beat the consensus of 38 cents.

Fri NYT pB8 "Shares rise on earnings, but some leading companies falter" by AP says strong earnings reports from big firms like Apple& UnitedHealth lifted stocks across the market on Thurs. Apple rose as it said it sold 18.65 mil iPhones in the latest quarter as Verizon Wireless started selling the phones in Feb, ending 3 and a half years of exclusivity by AT&T. Travelers rose 4% leading the Dow after reporting stronger earnings & a 14% dividend increase. It benefited from a decline in losses from catastrophe claims & an increase in corp insurance sales. McDonalds fell 2% despite beating analysts' earnings estimates after it said the cost of its ingredients will rise 5%. GE fell 2% despite beating estimates as its rev as its industrial busiensses was not growing as quickly as its rivals.

United Technologies UTX $87.1 +1.20 1.4% 5,710,426 NYSE: Barron's pM3 "The trader" by Kopin Tan says GE and Intel are reporting surging profits and United Technologies told investors to expect even better earnings this year.

Barron's Cover Story "Big Money Poll" says America's portfolio chiefs are bullish on stocks. Their picks include Cisco, Microsoft & Bank of America; their pans, Netflix. Last week upbeat earnings reports came from Intel, IBM & United Technologies.

Verizon VZ $36.91 -0.88 2.33% 29,858,795 Dual Listed: Barron's p14 "Weed review" says GE reported strong 1Q results helped by a big profit increase for GE Capita. AT&T 1Q profit jumped by 39% & Verizon Comm earned a 1Q profit of 51 cents a share vs 16 cents last year.

Sat Fin Times p18 "iPhoneocalypse" says Verizon added 15 times as many postpaid subscribers as AT&T, this past quarter during which AT&T lost US exclusivity for the iPhone.

Fri WSJ pB4 "Verizon outpaces AT&T in wireless" by Roger Cheng, Fri WSJ pC10 "IPhone's good reception" by Martin Peers and "Overhead", Fri NYT pB6 "IPhone sales help profit & rev at Verizon" by Reuters, Mon Inv. Bus. Daily pA1 & pA4 "Verizon falls on weak profit" say Verizon Wireless' iPhone launch was good as Verizon said Thurs it activated 2.2 mil iPhones in less than 8 weeks after the launch. Combined with AT&T's 3.6 mil for the full quarter, 5.8 mil new iPHones were sold in 1Q, the highest quarterly number in the US ever. The current iPhone on Verizon won't work in many other nations unlike AT&T's version so the next version of the iPhone will be a global device. Verizon had income of $1.44 bil or 1 cents a share, vs a profit of $443 mil or 16 cents a sahre a year earlier. Verizon backed its fullyear forecast for rev growth of 4% to 8% and 8% earnings growth.

Fri WSJ pC5" Blue chips finish week strong with 52 point gain" by Kristina Peterson says blue chip stocks pushed to a multiyear high in a holiday shortened week as robust earnings reports overshadowed lackluster US economic data. For the week, the Dow rose 1.3% and is up 4 of the past 5 weeks. Volume was light on Thurs, only 3.7 bil shares traded on the NYSE below the average daily volume of 4.37 bil. Travelers rose $2.19 after it boosted its dividend as 1Q profit exceeded forecasts. Verizon slid 88 cents after its 1Q profit more than tripled but its average rev per use rose by less than expected. Verizon is charted under Bad News as average rev per user increased but it missed expectations.

Walmart WMT $53.58 -0.11 0.2% 5,778,992 NYSE: Barron's p49 "Spring loaded to grow" is an interview by Grace L. Williams with Capital Advisors Growth Fund manager, Channing Smith who likes AT&T, GE, Johnson & Johnson, Kraft, Procter & Gamble & Walmart.

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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 4/24/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $428 [5]
2. Procter & Gamble PG 253.5 [4]
3. Chevron CVX 217.5 [2]
4. Microsoft MSFT 214.5 [8.5]
5. GE 212 [10.5]
6. IBM 205 [1]
7. WalMart WMT 187 [3.5]
8. AT&T T 181.5 [6]
9. JPMorgan Chase JPM 178 [4]
10. Johnson & Johnson JNJ 175.5 [3]
11. Pfizer PFE 158 [8]
12. Coke KO 156 [2.5]
13. Bank of America BAC 125 [10]
14. Intel INTC 118 [5.5]
15. Merck MRK 105 [3]
16. Verizon VZ 104 [3]
17. Cisco CSCO 93.5 [5.5]
18. Hewlett-Packard HPQ 88.5 [2]
19. Disney DIS 80 [2]
20. McDonald's MCD 80 [1]
21. United Technologies UTX 80 [1]
22. Caterpillar CAT 70 [.5]
23. 3M MMM 67 [.5]
24. Home Depot HD 61.5 [1.5]
25. Kraft KFT 58.5 [2]
26. American Express AXP 56.5 [1]
27. Boeing BA 55.5 [1]
28. DuPont DD 52 [1]
29. Travelers TRV 26 [.5]
30. Alcoa AA 18 [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