Friday, May 13, 2011

5/12/11 Thurs am Cisco Profits Down but Better than Expected; Intel Boosts Dividend Again

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Post No. 1,015 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 ranking of the Dow 30 components by market capitalization as of April 24, 2011 and Dow 30 components' SEC filings as of April 24, 2011.

A read of the print editions of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today, Investor's Business Daily, 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 Wednesday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 12,630.03 down 130.33 or 1.02% from Tuesday's close of 12,760.36. For the year the Dow is up 9.09%. Of the 30 Dow components 4 gained and 26 declined. The biggest gainer dollar-wise was Johnson & Johnson JNJ $66.57 +0.81 1.23% 19,932,659 NYSE and percentage-wise was Intel INTC $23.41 +0.38 1.65% 85,327,801 NASDAQ-GS. The biggest decliner dollar-wise was Caterpillar CAT $109.98 -2.89 2.56% 9,542,140 NYSE and percentage-wise was Disney DIS $41.52 -2.39 5.44% 38,317,107 NYSE.

WSJ pC5 "Energy sector pulls blue chips into red" by Donna Yesalavich says the energy sector pulled shares lower, with the S&P postings its biggest one day drop in 2 months as oil prices dropped. Chevron lost $2.10 and Exxon lost $1.75. Disney was the Dow's worst performer with a decline of $2.39 as it reported earnings and rev that was below expectations, hurt by a shortage of box office hits and the earthquake. Intel rose 38 cents after it announced a 16% increase to its dividend, the second boost to its quarterly payout in the past 6 months.

NYT pB10 "Markets slip as oil & commodities drop" by AP says tumbling demand for commodities & a drop in the euro put fin'l markets on ege Wed, pulling the Dow down 1%.

Fin Times p24 "Disappointing results at Disney leave media sector sharply lower" by Michael Stothard says weak results from Disney weighed on the media sector, while disappointing trade data & softer commodity prices left the wider markets sharply lower. Disney's stock is charted.

Inv. Bus Daily pA1 "Stocks knocked hard as volume rises" by Paul Whitfield says stocks broke a 3 session win streak Wed as the indexes skidded in rising volume. The current outlook is the market is in a correction.

USA Today p5B "Markets fall back as commodities drop" by Bloomberg says US stocks slumped Wed,giving he S&P index its biggest decline since March.

As of the open of the market Thursday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493. The trailing P/E is 14.41 down from Wednesday's trailing P/E of 14.56 (year ago it was 16.09); the P/E estimate is 12.75 unchanged from Wednesday's P/E estimate of 12.75 (year ago it was 12.84), and the dividend yield is 2.35 up from Wednesday's dividend yield of 2.31 (last year it was 2.52). 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 1,668.80 down 17.78 from Tuesday's closing numerator of 1,686.02. 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 Wednesday's Dow Jones Industrial Average was $55.63 down 0.67 from Tuesday's average closing price of $56.20. The median closing price of Wednesday's Dow Jones Industrial Average was $47.03 (AXP/JPM) down 0.63 from Tuesday's median closing price of $47.66. The lowest volume was Travelers TRV $63.25 -0.61 0.96% 2,094,906 NYSE and the highest volume was again Bank of America BAC $12.25 -0.03 0.24% 149,611,470 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 lost $1,778 ($168,602 - $166,880).

MarketWatch Wednesday 5/11/11 4:14 pm by Laura Mandaro says US stocks closed sharply lower Wednesday, quitting three straight days of gains, tracking a a selloff in oil futures and depressed by concerns inflation would cause China to raise rates further and worries Greece would need a bigger bailout. The Dow Jones Industrial Average fell 130.33 points, or 1.02%, to 12,630.03, led by a 5.4% drop in Walt Disney Co. shares. The S&P 500 fell 15.08 points, or 1.1%, to 1,342.08, led by a 2.9% drop in energy stocks. The Nasdaq Composite lost 26.83 points, or 0.9%, to 2,845.06.

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

AT&T T $31.38 -0.31 0.98% 20,123,552 NYSE: WSJ pB1 "AT&T defends T-Mobile" by Thomas Catan, NYT pB10 "AT&T & T-Mobile chiefs field skeptical questions on Capitol Hill" by Ed Wyatt, Fin Times p16 "Company chiefs defend planned $38 bil tie up" by Matt Kennard, USAT pB1B "AT&T, T-Mobile spar on Capitol Hill, Inv Bus. Daily pA2 "AT&T, T-Mobile defend deal" say the two firms were questioned at a Senate hearing on the proposed acquisition of T-Mobile by AT&T.

WSJ pB5 "AT&T dials up Cisco's business tablet" by Roger Cehng says AT&T will sell Cisco's tablet computer, the Cius, the second US carrier to support the business centric device.

USA Today p4B "2 new AT&T smartphones couldn't be more different" by Ed Baig contrasts the Samsung Infuse 4G, a large touch screen with the Hewlett-Packard Veer 4G, a small 2.6display vs the Infuse's 4.5 inch.

Alcoa AA $17.05 -0.47 2.68% 26,852,530 NYSE: No mentions found.

American Express AXP $49.83 -0.34 0.68% 6,433,671 NYSE: No mentions found.

Bank of America BAC $12.25 -0.03 0.24% 149,611,470 NYSE: WSJ pC3 "BofA chief is hit over mortgages" by David Benoit says Bank of America CEO Brian Moynihan defended the bank's response to mounting mortgage problems at the annual shareholders meeting on Wed.

Daily Report p6 "Banks offer $5 bil to settle foreclosures probe" by David McLaughlin, Bloomberg says Bank of America, JPMorgan and 3 other large banks who service 59% of all US home loans propose paying $5 bil to settle the state & fed probe.

Boeing BA $79.08 -0.87 1.09% 3,839,581 NYSE: No mentions found.

Caterpillar CAT $109.98 -2.89 2.56% 9,542,140 NYSE: No mentions found.

Chevron CVX $102.26 -2.10 2.01% 10,114,983 NYSE: WSJ pC1 "Drop in gas roils all markets" by Carolyn Cui says a sudden drop in gas futures triggered a broad based selloff of commodities Wed, pulling down he stock market. Chevron and Exxon each sank by about 2%.

WSJ pC5 "Energy sector pulls blue chips into red" by Donna Yesalavich says the energy sector pulled shares lower, with the S&P postings its biggest one day drop in 2 months as oil prices dropped. Chevron lost $2.10 and Exxon lost $1.75. Disney was the Dow's worst performer with a decline of $2.39 as it reported earnings and rev that was below expectations, hurt by a shortage of box office hits and the earthquake. Intel rose 38 cents after it announced a 16% increase to its dividend, the second boost to its quarterly payout in the past 6 months.

WSJ pA3 "Oil CEOs on the hot seat" by Stephen Power says Congress may cut tax benefits for oil firms due to their banner profit year. Senate Democrats will grill CEOs of Exxon, Chevron andothers about taxes at a Finance Committee hearing today.

Cisco CSCO $17.78 -0.01 0.06% 105,095,349 NASDAQ-GS: WSJ pB1 "Cisco predicts more hardship, further cuts" by Don Clark, NYT pB3 "Cisco posts lower profit, but exceeds expectations" by Verne Kopytoff, NYT pB2 "Head of Cisco mends his ways" by Rob Cox, Inv. Bus Daily pA1 "Cisco tops, sees weaker Q4" & pA4 "Cisco Systems lowers outlook as gear leader reorganizes" by J. Bonasia say Cisco had net income in 3Q of $1.8 bil down 18% or 33 cents a sahre, from $2.2 bil or 37 cents a year ago. Rev climbed 5% to $10.9 bil from $10.4 bil. After years of frittering away Cisco's cash on acquisitions & overpaid stock buybacks, Cisco CEO John Chambers is paring back to focus on its core networking businesses and streamlining management ranks.

Coke KO $67.32 -0.02 0.03% 5,597,036 NYSE: No mentions found. No mentions found.

Disney DIS $41.52 -2.39 5.44% 38,317,107 NYSE: WSJ pC12 "Disney's games need some more animation" by Martin Peers says Disney said that the operating loss at its interactive videogames business mas more than doubled to $115 mil in 2Q. The operation has become a black hole.

WSJ pC5 "Energy sector pulls blue chips into red" by Donna Yesalavich says the energy sector pulled shares lower, with the S&P postings its biggest one day drop in 2 months as oil prices dropped. Chevron lost $2.10 and Exxon lost $1.75. Disney was the Dow's worst performer with a decline of $2.39 as it reported earnings and rev that was below expectations, hurt by a shortage of box office hits and the earthquake. Intel rose 38 cents after it announced a 16% increase to its dividend, the second boost to its quarterly payout in the past 6 months.

Fin Times p24 "Disappointing results at Disney leave media sector sharply lower" by Michael Stothard says weak results from Disney weighed on the media sector, while disappointing trade data & softer commodity prices left the wider markets sharply lower. Disney's stock is charted.

DuPont DD $54.12 -1.77 3.17% 6,180,487 NYSE: WSJ pB3 "DuPont to grow pigment output" says DuPont will start a new titanium dioxide plant in '15 as a global shortage of the pigment pushes up the prices. The pigment is used for paint, paper and plastic.

Exxon XOM $81.12 -2.22 2.66% 24,049,569 NYSE: WSJ pC1 "Drop in gas roils all markets" by Carolyn Cui says a sudden drop in gas futures triggered a broad based selloff of commodities Wed, pulling down he stock market. Chevron and Exxon each sank by about 2%.

WSJ pC5 "Energy sector pulls blue chips into red" by Donna Yesalavich says the energy sector pulled shares lower, with the S&P postings its biggest one day drop in 2 months as oil prices dropped. Chevron lost $2.10 and Exxon lost $1.75. Disney was the Dow's worst performer with a decline of $2.39 as it reported earnings and rev that was below expectations, hurt by a shortage of box office hits and the earthquake. Intel rose 38 cents after it announced a 16% increase to its dividend, the second boost to its quarterly payout in the past 6 months.

WSJ pA3 "Oil CEOs on the hot seat" by Stephen Power says Congress may cut tax benefits for oil firms due to their banner profit year. Senate Democrats will grill CEOs of Exxon, Chevron andothers about taxes at a Finance Committee hearing today.

GE $20.09 -0.21 1.03% 38,189,128 NYSE: WSJ pB11 "Medtronic picks GE exec" by Jon Kam says GE's health care exec Omar Ishrak will be Medtronics new CEO.

Hewlett-Packard HPQ $41.06 -0.51 1.23% 16,807,831 NYSE: USA Today p4B "2 new AT&T smartphones couldn't be more different" by Ed Baig contrasts the Samsung Infuse 4G, a large touch screen with the Hewlett-Packard Veer 4G, a small 2.6display vs the Infuse's 4.5 inch.

Home Depot HD $37.23 -0.04 0.11% 9,555,849 NYSE: No mentions found.

Intel INTC $23.41 +0.38 1.65% 85,327,801 NASDAQ-GS: WSJ pC5 "Energy sector pulls blue chips into red" by Donna Yesalavich says the energy sector pulled shares lower, with the S&P postings its biggest one day drop in 2 months as oil prices dropped. Chevron lost $2.10 and Exxon lost $1.75. Disney was the Dow's worst performer with a decline of $2.39 as it reported earnings and rev that was below expectations, hurt by a shortage of box office hits and the earthquake. Intel rose 38 cents after it announced a 16% increase to its dividend, the second boost to its quarterly payout in the past 6 months.

IBM $169.5 -0.88 0.52% 4,636,674 NYSE: No mentions found.

JPMorgan JPM $44.22 -0.94 2.08% 30,182,690 NYSE: Daily Report p6 "Banks offer $5 bil to settle foreclosures probe" by David McLaughlin, Bloomberg says Bank of America, JPMorgan and 3 other large banks who service 59% of all US home loans propose paying $5 bil to settle the state & fed probe.

Johnson & Johnson JNJ $66.57 +0.81 1.23% 19,932,659 NYSE: WSJ pB2 "J&J issues recall for HIV drug" by Peter LOftus says Johnson & Johnson had another recall as over 11,700 bottles of the HIV/Aids drug Prezista in several nations were pulled due to trace amounts of a chemical emitting offensive odors.

KFT $34.27 +0.05 0.15% 8,101,488 NYSE: No mentions found.

MCD $79.51 -0.20 0.25% 4,297,652 NYSE: No mentions found.

MRK $36.63 -0.14 0.38% 11,817,250 NYSE: No mentions found.

Microsoft MSFT $25.36 -0.31 1.21% 78,156,896 NASDAQ-GS: Fin Times p16 "Skype high price for Microsoft's communication strategy" by Richard Waters & Skype users expect more ads under Microsoft" by Tim Bradshaw & p12 "Microsoft" & p9 "Microsoft must narrow its outlook" by John Gapper say Microsoft is buying Skype for too much at $8.5 bil

Pfizer PFE $20.61 -0.25 1.2% 42,745,284 NYSE: Fin Times p10 "The case study" Paddy Miller shows how outsourcing grunt work can be smart by focusing on how Pfizer did just that.

Procter & Gamble PG $65.92 +0.19 0.29% 9,164,120 NYSE: No mentions found.

MMM $95.52 -0.19 0.2% 3,426,457 NYSE: No mentions found.

Travelers TRV $63.25 -0.61 0.96% 2,094,906 NYSE: No mentions found.

United Technologies UTX $89.52 -0.29 0.32% 4,100,036 NYSE: No mentions found.

Verizon VZ $37.26 -0.31 0.83% 11,383,280 DualListed: No mentions found.

Walmart WMT $55.17 -0.36 0.65% 9,389,054 NYSE: No mentions found.

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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 & certain other SEC filings as of 4/24/11:

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

AT&T T: 4/20/11 2 8Ks re: first quarter results
4/13/11 Prospectus & 4/1/aa S-4 re: offer to exchange $3.5 bil of 5.35% Global Notes due '40
3/31/11 & 3/21/11 2 8Ks re: purchase of T-Mobile USA, Inc. from Deutsche Telekom for $20 bil
3/29/11 8KA re: replacement of Richard Lindner as CFO with John J. Stephens
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: 4/21/11 10Q & 4/12/11 8K re: first quarter results ending 3/31/11
4/14/11 8K transcript re: 1Q earnings conference call
4/13/11 8K & Prospectus re: issuance of $1.2 bil of 5.4% Notes due '21 & tnender offer for 5.3% Notes due '13
3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA

American Express AXP: 4/20/11 8K re: 1Q results ending 3/31/11
4/18/11 8K re: delinquency & write-off statistics for 1Q ended 3/31/11
3/28/11 8K re new digital payments platform "Serve"
3/24/11 & 3/23 & 3/22 Proxy materials re: 2011 Annual Meeting of Shareholders at 5/2/11 at AXP Headquarters in NYC
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

Bank of Am BAC: 4/15/11 8K re: shuffling of execs, C. Noski, E. O'Keefe & B. Thompson
4/15/11 re results of 1Q ending 3/31/11
3/3011 Proxy re: Annual Meeting of Stockholders on 5/11/11 at BAC Headquarters in Charlotte, N.C.
3/23/11 8K re: submission to Fed Res. Baord of comprehensive capital plan
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

Boeing BA: 3/21/11 Annual Report to Sahreholders
3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago

Caterpiller CAT: 4/15/11 Proxy re: Annual Meeting of Stockholders on 6/8/11 at Little Rock, Ark.
3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics

Chevron CVX: 4/14/11 4 Proxy filings re: Annual Meeting of Stockholders on 5/25/11at Chevron headquarters in San Ramon, CA.
4/11/11 8K re: first quarter interim update
4/4/11 8K re: increase of exec comp.

Cisco CSCO 3/28/11 8K re: pre-arranged stock trading plan for certain execs
3/22/11 8K-A re: election of Gary B. Moore as COO
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

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 3/25/11 8K re: adoption of exec stock option plan
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

DuPont DD: 4/21/11 8K re results for quarter ended 3/31/11
4/13/11 Proxy re annual meeting of stockholders on 4/27/11in Wilmington, DE
3/31/11 S-3 shelf registration for debt securities and common stock
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

ExxonMobil XOM: 4/14/11 Annual Report to Shareholders
4/13/11 2 Proxy filings re: annual meeting of shareholders on 5/25/11 in Dallas, TX
3/31/11 8K re: result of operations for 2010
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

GE: 4/21/11 8K re: first quarter results
4/18/11 proxy re: answers to shareholder's question re: CEO's stock options
4/15/11 Annual Report to Shareholders
4/711 & 3/30/11 Proxy materials re: proposal on exec comp proposal at annual meeting of shareholders on 4/27/11
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

Hewlett-Packard HPQ: 3/28/11 8K re amendment of by-laws to decrease number of directors from 17 to 13
3/22/11 8K re: info re: status of Hewlett-Packard employees as a result of Japanese earthquake
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

Home Depot HD: 4/18/11 Annual Report to Shareholders
4/15/11 proxy re: annual meeting of shareholders on 6/2/11 in Atlanta
3/31/11 8K re: underwriting agreement re: $3 bil of Senior Notes due 2021 & 2041
3/2/11 8K re: approval of Stock Option Plan

Intel INTC: 4/20/11 & 4/19/11 8Ks re: financial info & CFO commentary re: results for quarter ended 4/2/11
4/13/11 8K re: fin'l info re: recently closed acquisition of Infineon Wireless & McAfee
4/7/11, 4/5/11 & 4/4/11 Proxy materials re: annual meeting of shareholders on 5/19/11 at Intel's headquarters in Santa Clara, CA
3/21/11 8K re: fin'l info re: its McAfeesubsidiary
2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10

IBM: 4/20/11 & 4/19/11 8Ks re: CFO comments re: 1Qtr fin'l results ended 3/31/11
3/25/11 Proxy re: voting at annual meeting of stockholders on 4/26
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.

JPMorganChase JPM: 4/20/11 Proxy brochure entitled "Overview"
4/14/11 8K re: entering into consent orders with Fed. Reserve re: residential mortgage servicing activities
4/13/11 2 8Ks re: first quarter results
4/7/11 3 proxy filings re: annual meeting of shareholders on 5/17/11 in Columbus, Ohio
3/24/11 8K re: offering of $500 mil Floating Rate Notes due 2016
3/24/11 & 3/23/11 8Ks re: offering of Global Medium Term Notes

Johnson & Johnson JNJ : 4/19/11 Proxy re: annual meeting of shareholders on 4/28 in New Brunswick, NJ
4/19/11 8K re: first quarter results
4/15/11 8K re: settlement between Merck & JNJ re: dispute re: distribution of Remicade & Simponi
4/8/11 8K re: payment of $70,0006,316 fine for violating Foreign Corrupt Practices Act
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 Pennsylvania

Kraft KFT: 4/8/11 8K & 3/14/11 8K re: departure of CFO Timothy R. McLevish to be replaced by David A. Brearton
4/5/11 8K re: entering into revolving credit agreement for $4.5 bil
3/31/11 8K & Proxy re: nomination of Dr. Peter Henry for Board of Dir at 5/24/11 annual meeting of shareholders in Skokie, Ill

McDonald's MCD: 4/21/11 8K re: first quarter results
4/15/11 Proxy re: taking points
4/13/11 Annual Report to Shareholders
4/18/11 3 Proxy filings re: annual meeting of shareholders on 5/19/11 at McDonald's Headquarters in Oak Brook, Ill & proposal to amend cert. of incorp.
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.

Merck MRK: 4/15/11 8K re: settlement between Merck & JNJ re: dispute re: distribution of Remicade & Simponi
4/14/11 Annual Report to Shareholders
4/13/11 2 Proxy filings re: annual meeting of shareholders on 5/24/11 at North Branch, NJ
4/5/11 Schedule to tender offer to shareholders of Inspire Pharmaceuticals
3/24/11 8K re: termination of agreement between Merck & Sanofi-Aventis re: Sanofi's right to buy Merck's Merial animal health subsidiary

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: 4/14/11 & 4/11/11 Proxy & 3/22/11 2 Proxy filings re: 4/28/11 annual meeting of shareholders in Dallas, TX
4/4/11 8K re: selling Capsugel subsidiary to KKR
3/24/11 Annual report to shareholders
2/28/11 10K re: fiscal year ended 12/31/10

Procter & Gamble PG: 4/11/11 8K re: declaration of 9% quarterly dividend increase
4/5/11 8K re: sale of Pringles to Diamond
3/24/11 8K re: P&G & Teva Pharmaceutical Industries partnership for OTC medicines
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: 4/7/11 8K re: results of first quarter 2011
4/6/11 8K re: executive changes re: chief accounting officer
3/29/11 Proxy material to correct errors re: prior filing re: stock ownership of directors & officers
3/24/11 annual report to shareholders
3/23/11 2 proxy filings re: 5/10/11 annual meeting of stockholders in St. Paul, Minnesota
3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline

Travelers TRV:4/21/11 10Q & 8K for quarter ended 3/31/11
4/12/11 anual report to shareholders
4/12/11 2 proxy filings re: annual meeting of shareholders on 5/26/11 at Hartford, CT

United Technologies UTX: 4/20/11 8K re: first quarter results
4/19/11 8K re proposal to amend long term incentive plan
2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ

Verizon Communications Inc. VZ: 4/21/11 8K re: first quarter results
4/11/11 8K re: Verizon completion of Terremark acquisition
4/8/11 Schedule to tender offer re: Terremark acquisition
4/4/11 Proxy re; compensation proposal
3/25/11 Prospectus re: $6.25 bil notes
3/21/11 Proxy re: 5/5/11 annual meeting of shareholders in Indianapolis, Indiana
3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)

WalMart WMT: 4/19/11 annual report to shareholders
4/18/11 2 Proxy filings re: annual meeting o shareholders on 6/3/11 at U. of Ark in Fayetteville, Ark.
4/15/11 8K & 4/13/11 Prospectus re: issuance of $5 bil of notes
3/30/11 10K for fiscal year ended 1/31/11