Thursday, May 5, 2011

5/5/11 Thurs. am Intel Discloses New Chip Design for 3-D Transistor

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Post No. 1,003 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, Investor's Business Daily's, USA Today, New York Times, 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 12,723.58 down 83.93 or 0.60% from Tuesday's close of 12,807.51. Of the 30 Dow components 8 gained and 22 declined. For the year the Dow is up 9.90%. The biggest gainer dollar-wise and percentage-wise was Intel INTC $23.5 +0.4512 1.96% 137,089,424 NASDAQ-GS. The biggest decliner dollar-wise and percentage-wise was Caterpillar CAT $110.77 -2.50 2.21% 8,969,701 NYSE.

WSJ pC5 "Blue chips slip 83.93 on data, earnings" by Kristina Peterson says stocks retreated under pressure from disappointing economic data, weaker commodity earnings & lackluster earnings report.

NYT pB7 "Lacklustre earnings daunt investors" by Bloomberg says stocks fell Wed with commodity producers driving a 3rd straight loss for the S&P 500, as lower than estimated reports on service industries & job growth damped optimism in the economy. Caterpillar & GE, among firms most tied to the economy, fell at least 1.7% to lead declines in the Dow.

Inv. Bus Daily pA1 "Stocks fall, tip market to correction" by Paul Whitfield says bears tightened their grip on the market Wed as the indexes fell for a 3rd day in a row & leaders were down. Wednesday's action was down in rising volume and the current outlook is the market is in a correction.

Fin Times p26 "Energy leads further retreat amid poor figures & earnings reports" by Michael Stothard says US indices retreated further from multi-year highs achieved last week after disappointing economic data, softer commodity prices & a number of lacklustre earnings report. Exxon was down by 0.9% as oil prices fell back.

USA Today p4B "April jobs report drags stocks lower" by Matthew Craft says serious doubts about the health of the job market & the pace of the economic recovery put markets on edge Wed. Stocks fell after ADP said firms added 179,000 jobs in April, far fewer than economists had expected which raised worries about what the gov's monthly jobs report for April will show on Fri.

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 14.44 down from Wednesday's trailing P/E of 14.53 (year ago it was 16.01); the P/E estimate is 12.91 unchanged from Wednesday's P/E estimate of 12.91 (year ago it was 13.95), and the dividend yield is 2.32 up from Wednesday's dividend yield of 2.30 (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 1,681.16 down 11.09 from Tuesday's closing numerator of 1,692.25. 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 $56.04 down 0.37 from Tuesday's average closing price of $56.41. The median closing price of Wednesday's Dow Jones Industrial Average was $47.60 (AXP/JPM) down 0.31 from Tuesday's median closing price of $47.91. The lowest volume was Travelers TRV $63.54 -0.51 0.8% 3,117,106 NYSE and the highest volume was again Bank of America BAC $12.49 -0.11 0.87% 99,333,740 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 $1,109 ($169,232 - $168,116).

MarketWatch Wednesday 5/4/11 5:14 pm by ate Gibson says U.S. stocks and commodities slid sharply Wednesday as disappointing data on the services sector and jobs overshadowed enthusiasm on corporate deal-making. “I don’t think it’s the start of a bear market, but the chances of a near-term correction have risen,” said Nick Raich, director of research at Key Private Bank. “Earnings season started out very strong, only one in 10 were missing estimates, now it’s nearly one in four. In the last five days, 22% to 23% have missed, and a lot of them blame rising commodity prices,” Raich added. After a 134-point drop, the Dow Jones Industrial Average moderated its decline to end off 83.93 points, or 0.7%, at 12,723.58, with 22 of its 30 components losing ground. The Standard & Poor’s 500 Index shed 9.30 points, or 0.7%, to 1,347.32, with materials the worst-performing of its 10 industry groups. It was the third straight day of losses. Gold futures lost $25.10, or 1.6%, to end at $1,515.30 an ounce following a Wall Street Journal report that Soros Fund Management LLC has trimmed its gold and silver holdings. Silver futures tumbled $3.20, or 7.5%, to $39.39 an ounce. Read more about Soros’s holdings and read more on gold and silver futures. As gold and silver tank, assets besides commodities can hedge against inflation, according to David Goerz of HighMark Capital Management, who recommends high-quality stocks with a dividend yield, as well as small caps. Benchmark crude for June delivery declined $1.81 to end at $109.24 a barrel on the New York Mercantile Exchange. The Nasdaq Composite Index lost 13.39 points, or 0.5%, to 2,828.23. The Institute for Supply Management said its services index declined to 52.8 last month from 57.3 in March, missing analysts’ expectations. “Generally speaking, data such as this corroborate our more cautious stance entering the year and should further push to the sidelines those expecting 4% growth or more this year,” said Dan Greenhaus, chief economic strategist at Miller Tabak & Co. The ISM report was the day’s second disappointment for economic data. The first was a 179,000 increase in private-sector payrolls estimated by Automated Data Processing Inc. Economists were expecting a gain closer to 200,000. Decliners outpaced gainers more than 2 to 1 on the New York Stock Exchange, where 1.1 billion shares traded. Stocks fall sharply on ADP, ISM dataStocks fell sharply Wednesday, pressured by disappointing economic data, weaker commodity prices and a lackluster crop of earnings reports. Several individual stocks rallied on deal news. ConAgra Foods Inc. offered to buy food maker Ralcorp Holdings Inc. for about $4.9 billion, a sweetened offer Ralcorp still rejected. Ralcorp shares gained 4.9%. Applied Materials Inc. said it planned to buy Varian Semiconductor Equipment Associates Inc. for $4.9 billion. Varian shares surged 51%. Another maker of chip gear, Novellus Systems , rallied 6.5%. “The market has a couple of mergers, which would typically bode well, but today is contradictory,” said Stephen Carl, head equity trader at the Williams Group.

Wednesday's Closing Dow Numbers and Thursday's News:
Closing Price & Change & % Change Volume

AT&T T $31.79 -0.07 0.22% 26,235,396 NYSE: No mentions found.

Alcoa AA $17.47 -0.20 1.13% 52,915,247 NYSE: No mentions found.

Amex AXP $49.7 -0.20 0.4% 8,264,145 NYSE: No mentions found.

Bank of America BAC $12.49 -0.11 0.87% 99,333,740 NYSE: NYT pB2 "Bank of America to triple number of mortgage help centers" by Nelson Schwartz says BofA plans to triple the number of local centers across the US that provide assistance to mortgage customers facing foreclosure, lifting the total to 40 from 12 by summer.

Boeing BA $78.84 -0.67 0.84% 5,738,302 NYSE: No mentions found.

Caterpillar CAT $110.77 -2.50 2.21% 8,969,701 NYSE: No mentions found.

Chevron CVX $104.68 -1.49 1.4% 8,894,624 NYSE: WSJ pB10 "Chevron expands in Marcellus Shale" by Isabel Ordonez says Chevron is doubling down on a big natural gas bet by expanding its reach into a large swath of Pa by buying drilling rights for another 228,000 acres in the Marcellus Shale, a rock formation underlying several states in the NE that has become one of the most prolific sources of natural gas in the US.

CSCO $17.47 +0.06 0.34% 58,162,403 NASDAQ-GS: No mentions found.

Coke KO $67.46 -0.42 0.62% 6,774,048 NYSE: No mentions found.

DIS $42.62 -0.45 1.04% 7,484,161 NYSE: No mentions found.

DuPont DD $54.51 -0.96 1.73% 6,419,543 NYSE: No mentions found.

Exxon XOM $84.81 -0.81 0.95% 22,879,994 NYSE: Fin Times p26 "Energy leads further retreat amid poor figures & earnings reports" by Michael Stothard says US indices retreated further from multi-year highs achieved last week after disappointing economic data, softer commodity prices & a number of lacklustre earnings report. Exxon was down by 0.9% as oil prices fell back.

GE $20.27 -0.37 1.79% 57,934,625 NYSE: No mentions found.

Hewlett-Pac HPQ $40.94 +0.61 1.51% 15,381,565 NYSE: No mentions found.

Home Dep HD $37.19 -0.16 0.43% 11,324,343 NYSE: No mentions found.

Intel INTC $23.5 +0.4512 1.96% 137,089,424 NASDAQ-GS: WSJ pB1 "Intel, seeking edge on rivals, rethinks its building blocks" by Don Clark, Fin Times p1 "Intel hails revolution in 3D chip technology" by Richard Waters, NYT pB1 "To enhance chip speed, Intel enters 3rd dimention" by John Markoff, Inv. Bus. Daily pA1 & A4 "Intel unveils 3-D Transistor, AJC pA13 "Intel steps up game to elevate its chips" by Ap says Intel showed off what it called the most radical shift in semiconductor tech n more than 50 years, a design that could produce more powerful chips for gadgets without taxing their batteries. The firm plans to change a key part of each chip into a vertical fin like structure which would bring more computing power to smartphones & tablet computers as well as speed up corp data centers while reducing power consumption.

IBM $170.62 -2.25 1.3% 6,894,485 NYSE: No mentions found.

JPMorgan JPM $45.5 -0.42 0.91% 22,736,571 NYSE: WSJ pC5 "Deutsche Bank maintains top ranking in currencies" by Jessica Meade says JP Morgan moved up from 6th to 5th in the world's ranking of largest currencies dealers, JPM now has 6.43% of the market.

Johnson & Johnson JNJ $65.67 -0.59 0.89% 13,421,378 NYSE: WSJ pB4 "J&J, others to revamp pain drug" by Jonathan Rockoff says in a move to curb overdoses of pain and fever medicine acetaminophen Johnson & Johnson and other drug makers will switch to a single concentration in the otc remedies for kids.

KFT $33.85 -0.02 0.06% 9,116,544 NYSE: No mentions found.

MCD $79.07 +0.13 0.16% 5,495,887 NYSE: No mentions found.

MRK $36.56 +0.15 0.41% 17,411,683 NYSE: No mentions found.

MSFT $26.06 +0.25 0.97% 73,275,745 NASDAQ-GS: No mentions found.

Pfizer PFE $20.64 +0.20 0.98% 50,764,778 NYSE: No mentions found.

Procter & Gamble PG $66.47 +0.76 1.16% 14,254,887 NYSE: WSJ pB4 "P&G's Ed Shirley will step down in realignment" by Ellen Byron says Shirley, the vice chair of P&G's beauty and grooming unit will step down in July and be replaced by ViceChiar Dimitri Panayotopoulos.

MMM $96.2 -0.63 0.65% 3,229,952 NYSE: No mentions found.

TRV $63.54 -0.51 0.8% 3,117,106 NYSE: No mentions found.

United Tech UTX $89.38 -0.47 0.52% 4,473,004 NYSE: No mentions found.

Verizon VZ $37.67 -0.13 0.34% 11,270,687 DualListed: No mentions found.

WMT $55.37 -0.09 0.16% 8,167,854 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