Wednesday, October 26, 2011

10/26/11 Wed am IBM's New CEO; 3M Earnings Dissappoint; DuPont's Exceed Expectations

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Post No. 1,286 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 and Dow 30 components' SEC filings in each case as of September 23, 2011.

A read of the print editions of Wednesday's The Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution and 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 AverageThe Dow Jones Industrial Average closed Tuesday at 11,706.62 down 207 or 1.74% from Monday's close of 11,913.62. For the year the Dow is up 1.1%. Of the 30 Dow components only Intel gained and 29 declined. The only and therefore biggest gainer dollar-wise and percentage-wise Intel INTC $24.63 +0.04 0.16% 58,428,827 NASDAQ-GS. The biggest decliner dollar-wise and percentage-wise was 3M MMM $77.04 -5.14 6.25% 12,640,708 NYSE.

WSJ pC4 "Dow slides 207 points; crude oil cruises up" by Steve Russolillo says stocks tumbled Tues following a mixed bag of corp earnings & as hopes for a big solution to Europe's debt crisis waned. Shares of 3M led the Dow lower falling $5.14 after it reported 3Q earnings and rev that fell short of expectations & it lowered its full year outlook, noting a number of its customers reduced inventories in anticipation of slowing demand. DuPont was down $1.15 despite it reporting better than expected 3Q earnings & rev and it increased its full year ernings outlook.

Fin Times p20 "S&P 500 slides as refiners feel the weight of rising price of crude" by Ajay Makan says a sharp narrowing of the spread between West Texas Intermediate crude oil & Brent hit US refiners who have benefited from access to cheap WTI.

USA Today p4B "Lagging consumer confidence, Europe issues pull stocks down" by Bloomberg says stocks fell Tues halting a 3 day rally in the S&P after UPS slumped, economic reports missed estimates & investors awaited today's European summit.

NYT pB10 "Stocks close sharply lower on news from Europe" by Christine Hauser says stocks in the US & Europe sank Tues as the markets got another jolt from the European Union, this time the abrupt cancellation of a meeting of finance ministers taht was meant to precede a leaders' summit meeting on Wed.

As of the open of the market Wednesday, the current divisor for the Dow Jones Industrial Average found at page C5 of Wednesday's Wall St. Journal is 0.132129493. Wednesday's trailing P/E ratio is 13.01 down from Tuesday's trailing P/E ratio of 13.25 (year ago it was 14.11); Wednesday's P/E estimate is 11.75 unchanged from Tuesday's P/E estimate of 11.75 (year ago it was 13.25), and today's dividend yield is 2.65 up from Tuesday's dividend yield of 2.60 (last year it was 2.53). 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.

Tuesday's Dow Jones Industrial Average closing numerator was 1,546.78 down 27.36 from Monday's closing numerator of 1,574.14. 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 Tuesday's Dow Jones Industrial Average was $51.56 down 0.91 from Monday's average closing price of $52.47 The median closing price of Tuesday's Dow Jones Industrial Average was $40.57 (DD/VZ) down 0.84 from Monday's median closing price of 41.51. The lowest volume was United Technologies UTX $75.28 -1.37 1.79% 4,186,822 NYSE and the highest volume again was Bank of America BAC $6.46 -0.26 3.87% 200,297,098 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 lost $2,736 ($157,414 - $154,678).

MarketWatch Tuesday 10/25/11 3:43 pm by Kate Gibson says US stocks declined Tuesday, arresting a three-day rise for the S&P 500 Index, with investors wary before the euro-area summit and as earnings and outlooks from a few bellwethers weighed.“There’s always a concern about what is going to happen with Europe and how they are going to put together a deal that satisfies everyone. The bottom line is, investors in Greek paper shouldn’t be thinking about a haircut; they should be worried about getting scalped,” said Robert Pavlik, chief market strategist at Banyan Partners.“While earnings have been good, two big names came out with misses — 3M and Cummins. Put that on top of the collapse of Netflix, and people are taking profits,” he added.After falling as much as 175 points, the Dow Jones Industrial Average DJIA -1.74% was lately down 144.77 points at 11,768.87, with 26 of its 30 components lower. Shares of 3M Co. MMM were the largest weight, off 5.8% after the industrial conglomerate said earnings fell 2% in the third quarter and cut its 2011 profit forecast.Off the Dow, Cummins Inc. CMI +0.17% reported third-quarter results that beat Wall Street’s estimates, but the engine maker’s shares shed 4.8% after it cut its full-year revenue estimate.United Parcel Service Inc. UPS +0.27% shares also fell, retreating nearly 5% after the package-delivery service reported earnings a bit above estimates and revenue in line with forecasts. Also, Netflix Inc. NFLX -0.07% shares fell nearly 35% after the video-rental firm said it lost 800,000 subscribers in the third quarter, more than anticipated. Read more on Netflix. The S&P 500 SPX -2.00% dropped 18.89 points at 1,235.27, with financial companies declining the most among its 10 industry groups.“Given the run the market has had in the last three weeks, it should be no surprise that this morning’s hit erased yesterday’s gains in about 30 minutes,” remarked Elliot Spar, a market strategist at Stifel Nicolaus.“The market’s resiliency will be tested tomorrow [Wednesday] as it deals with the outcome of the European summit statement. If the bulls are going to maintain control, the S&P 500 has to close today [Tuesday] closer to 1,250 than 1,230,” he said.After a two-day rise, the Nasdaq Composite Index COMP -2.26% skidded 49.12 points at 2,650.32.For every stock gaining, four fell on the New York Stock Exchange, where 661 million shares traded as of 3:25 p.m. Eastern. Composite volume neared 3.4 billion.Oil futures rose to a 12-week high on expectations that demand will rise on falling U.S. supplies, as well as on improved sentiment for growth in Asia and other emerging markets.Crude for December delivery gained as much as $3.38 to $94.65 a barrel, and finished up $1.90 at $93.17 a barrel. Read more about on oil in Futures Movers.Gold futures closed at $1,700.40 an ounce, up $48.10, or 2.9%.Overseas, German Chancellor Angela Merkel voiced opposition to a portion in the draft European Union summit that called for backing the ongoing use of nonstandard measures, or the buying of bonds in the secondary market, by the European Central Bank.In the United States, Texas Gov. Rick Perry on Tuesday attempted to revive his flagging campaign for the Republican presidential nomination, proposing an optional flat income tax of 20%. Yet the plan was met with some criticism: Perry’s proposal “will not jump-start the economy and is fiscally irresponsible,” wrote Peter Morici, a professor at the University of Maryland’s Smith School of Business, in emailed commentary.
Since the 42% of Americans who currently pay no income taxes at all are unlikely to opt for Perry’s 20% plan, and those who do will only pick it if they can pay less, the Perry plan would raise less than the present system, according to Morici, former chief economist at the U.S. International Trade Commission.Home prices in 20 U.S. cities fell more than expected in August, illustrating one of the barriers curbing the economic recovery. The S&P/Case-Shiller index of property values declined 3.8% from the year-ago period. Separately, the Conference Board said its gauge of consumer sentiment fell to 39.8 in October from a revised 46.4 level the month before. See story on consumer confidence.Banyan’s Pavlik down played the significance of either economic report, and said there is little correlation between consumer confidence and spending.

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

AT&T T $28.41 -0.47 1.63% 33,167,637 NYSE: NYT pB2 "Sprint's hand in antitrust suit" by Reynolds Holding says Sprint's separate lawsuit against AT&T's $39 bil takeover of T-Mobile USA shows its lack of confidence in the Justice Dept's ability to stop the takeover.

Alcoa AA $10.14 -0.44 4.16% 31,608,907 NYSE: No mentions found.

American Express AXP $49.42 -0.50 1% 12,431,180 NYSE: No mentions found.

Bank of America BAC $6.46 -0.26 3.87% 200,297,098 NYSE: Daily Report p6 "Bank of America remains too big to fail" by Simon Johnson says the Dodd-Frank law does not shield taxpayers from BofA's investments & losses and may need to be bailed out.

Boeing BA $63.72 -1.03 1.59% 6,501,998 NYSE: No mentions found.

Caterpillar CAT $89.89 -1.88 2.05% 10,673,243 NYSE:

Chevron CVX $104.5 -1.77 1.67% 8,434,881 NYSE: No mentions found.

Cisco CSCO $17.62 -0.08 0.46% 43,520,808 NASDAQ-GS: No mentions found.

Coke KO $66.95 -0.92 1.36% 7,036,525 NYSE: No mentions found.

Disney DIS $34.51 -0.86 2.43% 7,801,829 NYSE: No mentions found.

DuPont DD $44.94 -1.15 2.5% 11,272,101 NYSE: NYT pB10 "DuPont earnings continue to surpass analysts' expectations" by Bloomberg, WSJ pC4 "Dow slides 207 points; crude oil cruises up" by Steve Russolillo say stocks tumbled Tues following a mixed bag of corp earnings & as hopes for a big solution to Europe's debt crisis waned. Shares of 3M led the Dow lower falling $5.14 after it reported 3Q earnings and rev that fell short of expectations & it lowered its full year outlook, noting a number of its customers reduced inventories in anticipation of slowing demand. DuPont was down $1.15 despite it reporting better than expected 3Q earnings & rev and it increased its full year earnings outlook. Net income for DuPont climbed 23% to $452 mil or 48 cents a share, from $367 mil or 40 cents a year earlier. Sales rose 32% to $9.24 bil.

WSJ pB2 "Wary firms are destocking" by James Hagery says 3M & DuPont are among firms that take it on the chin in the early stages of an economic downturn and they say they are starting to feel pain as their customers, other manufacturers, are destocking or cutting their inventories of raw materials, in the face of increased caution about the year ahead.

Exxon XOM $79.44 -0.73 0.91% 23,322,247 NYSE: WSJ pB10 "Exxon makes find off Vietnam Coast" by Isabel Ordonez says Exxon found oil & gas off Vietnam's central coast.

GE $16.22 -0.23 1.4% 82,069,335 NYSE: No mentions found.

Hewlett-Packard HPQ $25.05 -0.97 3.73% 15,071,833 NYSE: No mentions found.

Home Depot HD $36.04 -0.66 1.8% 10,873,993 NYSE: No mentions found.

Intel INTC $24.63 +0.04 0.16% 58,428,827 NASDAQ-GS: No mentions found.

IBM $180.36 -1.89 1.04% 5,314,531 NYSE: WSJ pB1 "Rometty replacing IBM's Palmisano" by Spencer Ante, USA Today p3B "30 year IBM vet named as new CEO" by Scott Martin, NYT pB1 "IBM names a new chief" by Steve Lohr say IBM named Virginia M. Rometty as its next CEO to replace Samuel J. Palmisano, age 60, who will remain chairman. She will be Pres & CEO.

JPMorgan JPM $33.49 -1.08 3.12% 37,557,349 NYSE: No mentions found.

Johnson & Johnson JNJ $63.69 -1.04 1.61% 10,288,455 NYSE: No mentions found.

Kraft KFT $34.93 -0.35 0.99% 9,239,140 NYSE: No mentions found.

McDonald's MCD $91.77 -0.24 0.26% 6,461,674 NYSE: No mentions found.

Merck MRK $32.91 -0.62 1.85% 15,592,485 NYSE: No mentions found.

Microsoft MSFT $26.81 -0.38 1.4% 53,430,991 NASDAQ-GS: No mentions found.

Pfizer PFE $18.87 -0.49 2.53% 43,435,168 NYSE: No mentions found.

Procter & Gamble PG $64.51 -0.86 1.32% 8,404,718 NYSE: No mentions found.

3M MMM $77.04 -5.14 6.25% 12,640,708 NYSE: NYT pB9 "3M misses earnings outlook, and forecasts lower demand" by Reuters, WSJ pC4 "Dow slides 207 points; crude oil cruises up" by Steve Russolillo, Fin Times p10 "3M" & p15 "Cummings & 3M reduce forecasts" by Hal Weitzman say stocks tumbled Tues following a mixed bag of corp earnings & as hopes for a big solution to Europe's debt crisis waned. Shares of 3M led the Dow lower falling $5.14 after it reported 3Q earnings and rev that fell short of expectations & it lowered its full year outlook, noting a number of its customers reduced inventories in anticipation of slowing demand. DuPont was down $1.15 despite it reporting better than expected 3Q earnings & rev and it increased its full year earnings outlook. #M's net income was $1.09 bil or $1.52 a share, compared with $1.1 bil or $1.53 a share a year earlier. Quarterly sales were up 10% to $7.5 bil, vs expectations of $7.8 bil.

WSJ pB2 "Wary firms are destocking" by James Hagery says 3M & DuPont are among firms that take it on the chin in the early stages of an economic downturn and they say they are starting to feel pain as their customers, other manufacturers, are destocking or cutting their inventories of raw materials, in the face of increased caution about the year ahead.

Travelers TRV $56.34 -1.28 2.22% 5,335,330 NYSE: No mentions found.

United Technologies UTX $75.28 -1.37 1.79% 4,186,822 NYSE: No mentions found.

Verizon VZ $36.19 -0.74 2% 19,693,955 DualListed: No mentions found.

Walmart WMT $56.71 -0.07 0.12% 10,093,189 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 Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty ( replaces Samuel J. Palmisano 1/1/12) (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 Lowell McAdam (NY, NY) Lowell C. McAdam
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 9/23/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $337 [5]
2. Microsoft MSFT 210 [8.5]
3. IBM 202 [1]
4. Chevron CVX 180 [2]
5. WalMart WMT 175 [3.5]
6. Johnson & Johnson JNJ 169 [3]
7. Procter & Gamble PG 168.5 [3]
8. AT&T T 165 [6]
9. GE 161 [10.5]
10. Coke KO 155 [2.5]
11. Pfizer PFE 136 [8]
12. Intel INTC 116.5 [5]
13. JPMorgan Chase JPM 115.5 [4]
14. Verizon VZ 106.5 [3]
15. Merck MRK 95.5 [3]
16. McDonald's MCD 90 [1]
17. Cisco CSCO 86 [5.5]
18. Bank of America BAC 64 [10]
19. United Technologies UTX 62.5 [1]
20. Kraft KFT 59.5 [2]
21. American Express AXP 55.5 [1]
22. Disney DIS 55 [2]
23. Home Depot HD 53 [1.5]
24. 3M MMM 52.5 [.5]
25. Caterpillar CAT 48 [.5]
26. Hewlett-Packard HPQ 44.5 [2]
27. Boeing BA 44 [1]
28. DuPont DD 38 [1]
29. Travelers TRV 20 [.5]
30. Alcoa AA 11 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 9/23/11:

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

AT&T T: 9/8/11 8K re: redemption of certain notes
9/1/11 8K re: Dept. of Justice lawsuit to block AT&T acquisition of T-Mobile saying it will lessen competition & raise prices
8/5/11 10Q for quarter ended 6/30/11
8/2/11 8K re: sale of global notes
8/1/11 8K re: tendering of all its shares of Telefonos de Mexcio
7/21/11 8K re: 2Q results
6/27/11 8K re: minor amendments to Bylaws
5/6/11 10Q for quarter ended 3/31/11
5/5/11 8K re: voting results of 4/29 Annual Meeting of Stockholders
4/29/11 8K re: sale of $3 bil of Global Notes due '16 & '21
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

Alcoa AA: 7/28/11 8K re: 5 year revolving crdit agreement with Citibank
7/21/11 10Q for Qtr ended 6/30/11
7/14/11 8K re: 2Q earnings call transcript
7/12/11 8K re: 2Q results
6/2/11 8K re: Regulation FD disclosure re: Internal Relations Presentation of "Nomura Aluminum Seminar"
5/31/11 8K re: redemption of notes due '13
5/18/11 8K re: Chris Ayers elected Pres. of AA Blobal Primary Products
5/11/11 8K re: retirement of Joe Gorman from Bd. of Dires
5/6/11 8K re: Issuance of Sustainability Highlights Report
4/29/11 8K re: tender offer for 6% '13 Notes
4/29/11 8K re: grants under Stock Incentive Plan
4/27/11 Proxy materials re: exec comp
4/21/11 10Q & 4/21/11 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

American Express AXP: 9/15/11 & 9/14/11 8Ks re: delinquency & write-off stats for 3 months ended 8/3/1/11
8/15/11 8K re: delinq. & write-off stats for months of May, June, and July 2011
8/3/11 10Q for quarter ended 6/30/11
7/20/11 8K re: 2Q results
7/15/11 8K re: delinq. & write-off stats qtr. ended 6/30/11
6/15/11 8K re: U.S. Card Services delinquency & write-off statistics for 3 months ended 5/31/11
5/16/11 re: delinquency & write-off stats for period ended 4/30/11
5/5/11 8KA & 8K re: appointment & compensation of David Cornish as Acting Comptroller
5/4/11 10Q quarter ended 3/31/11
4/26/11 8K re: departure of Comptroller & also Deputy Comptroller
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

Bank of Am BAC: 9/7/11 8K re: exec changes including departure of Sallie Krawcheck
9/1/11 8K re: Amend Cert of Inc to designate Pref. Shares sold to Berkshire Hathaway for $5 bil
8/29/11 8K re: selling of 13.1 bil shares of China Construct Bank
8/25/11 8K re: sale of securities to Berkshire Hathaway, Inc.
7/19/11 8K re: 2Q results
7/6/11 8KA re: settlement of Countrywide mortgage claims
6/29 8K re: election of Bruce R. Thompson as CFO
5/11/11 8K re: Voting results of Stockholders Annual Meeting held 5/16
5/5 10Q for quarter ended 3/31/11
5/2/11 8K re: update of legal opinion re: Medium-Term Notes
4/28/11 Proxy re: voting at 5/11 Stockholder Meeting and info re: independence of nominee for Board
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

Boeing BA: 9/30/11 8K & 8KA re: frequency of shareholder advisory votes
7/27/11 10Q for Qtr ended 6/30/11
7/27/11 8K re: 2Q results
6/14/11 8K re: resignation of John E. Bryson from Baord of Directors to be Pres. Obama's US Sec'y of Commerce & amendment of By-Laws to decrease number of directors from 12 to 11
5/3/11 8K re: amending bylaws decreasing Board from 13 to 12
4/27 10Q & 4/27/11 8K re: quarter ended 3/31/11
3/21/11 Annual Report to Shareholders
3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago

Caterpiller CAT: 9/20/11 8KA 3 Mos dealer stats thru Aug
9/16/11 re: credit agreemet
8/18/11 8K re: 3 mos. dealer stats
8/12/11 8K re: clairifcation of order backlog
8/4/11 10Q for quarter ended 6/30/11
7/22/11 8K re: 3 mos. dealer stats
7/22/11 8K re: 2Q results ended 6/30/11
7/12/11 8K re: segment operating results 3/31/11
7/8/11 8K re: closing of Bucyrus acquisition
6/20/11 8K re: 3 months dealer statistics ended 5/31/11
6/9/11 8K re: voting results of 6/8 Annual Stockholders Meeting
6/8/11 two 8Ks re: press release and declaration of 0.46 cents per share dividend payable 8/20 for record holders on 7/20
5/26/11 8K re: underwriting agreement re: floating rate senior notes due '12 through '17
5/26/11 Porxy Material re Letter to institutional stockholders re: voting recommendations at upcoming annual meeting of stockholders
5/23/11 Proxy re: voting reminder re: 6/8 Meeting of Stockholders
5/23/11 8K re: revisions to 10K fin'l statements
5/19/11 8K re: dealer stats
5/9/11 10Q for quarter ended 3/31/11
4/29/11 8K re: info re: sales to dealers
4/29/11 8K re fin'l results quarter ended 3/31/11
4/15/11 Proxy re: Annual Meeting of Stockholders on 6/8/11 at Little Rock, Ark.

Chevron CVX: 9/7/11 8K/A re: frequency of shareholder advisory votes
8/4/11 10Q for quarter ended 6/30/11
7/29/11 8K re: 2Q results
7/11/11 8K re: 2Q interim update
6/1/11 8K re: results of votes at 5/25 Annual Stockholder Meeting
5/31/11 8K re: receipt of imminent danger order under Fed. Mine Safety Act re: Kemmerer Mine, Lincoln, WY and the vacating of the order on 5/26
5/5/11 10Q & 4/29/11 8K re quarter ended 3/31/11
4/14/11 4 Proxy filings re: Annual Meeting of Stockholders on 5/25/11 at Chevron headquarters in San Ramon, CA.

Cisco CSCO 9/20/11 8K re: contract with Exec VP Wim Elfrink
9/14/11 10K for year ended 7/30/11
8/24/11 8K re: pre-arranged stock trading plan for CEO John Chambers
8/10/11 8K re: 4Qtr results
7/18/11 8K re: cutting of 6,500 jobs
6/22/11 8K re: executives' pre-arranged stock trading plans
5/25/11 10Q re: Qtr ended 4/30/11
5/11/11 8K re: results of quarter ended 4/30/11
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

Coke KO 9/1/11 8K re: issuance of senior notes
8/24 & 8/8 8Ks re: issuance of securities as an off-alance sheet arrangement re: Coca-Cola Refreshments USA, Inc.
8/1/11 10Q 2 results ended 7/1/11
7/19/11 8K re: 2Q results
5/2/11 10Q & 4/26/11 8K for quarter ended 4/1/11
4/29/11 8K re: voting results of Annual Meeting of Shareholders held on 4/27
3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta

Disney DIS 8/19/11 8K re: sale of $750 mil of Global Notes
8/19 10Q & 8/9 8K re: esults of quarter ended 7/2/11
5/20/11 8K re: sales of $500 mil 3.75% Global Notes Due '21
5/10 8K & 5/10/11 10Q re: quarter ended 4/2/11

DuPont DD: 8/8/11 10Q for quarter ended 6/30/11
7/28/11 8K re: 2Q results
5/24/11 8K re: completion of acquisition of 92.2% of shares of Danisco SA
5/5/11 8K re: tender offer for Danisco
5/3/11 8K re: voting results of 4/27 Annual Meeting of Stockholders
4/26/11 10Q for quarter ended 3/31/11
4/21/11 8K re results for quarter ended 3/31/11
4/13/11 Proxy re annual meeting of stockholders on 4/27/11 in Wilmington, DE

ExxonMobil XOM: 8/4/11 10Q for quarter ended 6/30/11
7/28/11 8K re: 2Q results
5/31/11 8K re: results of voting of 5/25 Annual Shareholders Meeting
5/6/11 Proxy re: add'l material re: advisory vote on exec comp
5/5/11 10Q & 4/28/11 for quarter ended 3/31/11
4/29/11 8K re: amendment of bylaws making Treasurer also CFO
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

GE: 9/13/11 8K re: redemption of shares held by Berkshire hathaway for $3.3 bil
7/29/11 10Q 2Q results ended 6/30/11
7/29/11 13F-HR Inst't'l holdings
7/22/11 8K re: 2Q results
5/6/11 10Q for quarter ended 3/31/11
5/2/11 8K re: voting results of 4/27 Annual Meeting of Shareholders
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

Hewlett-Packard HPQ: 9/22/11 8K re: replaceemnt of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of flotaing global notes
9/13/11 8K re: purchse of Autonomy Corp.
9/9/11 10Q for quarter ended 7/31/11
8/19/11 8K re: offer to purchase Autonomy Corp plc
8/18/11 8K re: 3rd Quarter results ended 7/31/11
7/22/11 8KA re: frequency of advisory votes on exec comp.
7/21/11 8K re: plan to repurchase $10 bil of its shares
6/16/11 8K re: election of Ann Livermore to Board of Directors, her resignation as Exec. VP & amendment to By-Laws to increase number of directors from 13 to 14
6/8/11 10Q re: Quarter ended 4/30/11
6/1/11 8K re: underwriting agreement re: Floating Rate Global Notes due '14 through '21
5/7/11 8K re: fin'l results for quarter ended 4/30/11

Home Depot HD: 9/1/11 10Q for quarter ended 7/31/11
8/16/11 8K re: results of quarter ended 7/31/11
6/7/11 8K re: amending by-laws re voting by consent for shareholders
6/8/11 10Q re: Quarter ended 4/30/11
5/17/11 8K re: fin'l results for quarter ended 5/1/11
4/18/11 Annual Report to Shareholders
4/15/11 proxy re: annual meeting of shareholders on 6/2/11 in Atlanta

Intel INTC: 9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes
8/8/11 10Q for quarter ended 7/2/11
7/27/11 8K re: election of Andy D. Bryant to Board of Dirs.
7/21 & 7/20/11 8Ks re: 3Q results ended 7/2/11
5/24/11 8K re: Voting results of 5/19/11 Annual Meeting of Stockhodlers
5/17/11 8K re: FD disclosures re: investor Meeting
5/11/11 8K re: increase in 3rd Quarter dividend
5/9/11 8K & 5/9/11 10Q for quarter ended 4/2/11
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

IBM: 7/26/11 10Q & 7/19/11 & 7/18/11 8Ks re: results for quarter ended 6/30/11
7/21/11 8K re: underwriting agreement re: issuance of $2 bil of debt
5/11/11 8K re: issuance of $1 bil of debt
4/28/11 8K re: voting results of 4/26/11 Meeting of Stockholders
4/26/11 10Q for quarter ended 3/31/11
4/20/11 & 4/19/11 8Ks re: CFO comments re: 1Qtr fin'l results ended 3/31/11

JPMorganChase JPM: 9/13/11 8K re: FD Disclosure re: guidance given at investor conference
8/24/11 8K re: Master Agency Agreement re: Notes offering from time to time
8/10/11 8K re: closing of sale of $1.25 bil of 4.35% notes due 2021
8/5/11 8K re: 10Q for quarter ended 6/30/11
8/5/11 8K re: closing of sale of notes due 2016
7/27/11 & 7/21/11 8Ks re: legal opinions re: debt issues
7/14/11 8K re: investor presentation re: 2Q results
7/14/11 8K re: 2Q results
6/29/11 8K re: closing of $2.5 bil issue of 3.15% Notes due 2016
6/21/11 8K re: closing of $400 mil flotating rate senior med-term notes dues '14
5/24/11 8K re: legal opinion re: $500 mil Floating Senior Medium Term Notes due '16
5/23/11 8K Voting results of Shareholder Meeting held 5/17/11
5/10/11 8K re: legal opinion re: $2 bil of 4.6% Notes due '21
5/6/11 10Q for quarter ended 3/31/11
4/29/11 8K re: legal opinion for $2 bil Floating Senior Medium Term Notes
4/29/11 8K re: registering Global Notes
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

Johnson & Johnson JNJ : 8/9/11 10Q for equarter ended 7/3/11
7/19/11 8K re: selling of Ortho Dermatologics Div.
7/19/11 8K re: 2Q results 7/3/11
5/20/11 8K re: sale of over $4 bil of Notes due '13 - '41
5/2/11 8K re: merger agreement with Synthes
4/29/11 8K re: voting results of 4/28 Meeting of Shareholders
4/27/11 8K re: offer to buy Synthes for $21.3 bil
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

Kraft KFT: 9/7/11 8K re: FD Disclosure re: presentation at investor conference
8/5/11 10Q for quarter ended 6/30/11
8/14/11 8K re: amendment of severance agreement with ex-CFO Tim McLevish
8/4/11 8K re: Board of Dirs. intent to spin off global snack business & a N. Amer. grocery business
8/4/11 8K re: 2nd quarter results for quarter ended 6/30/11
7/14/11 8K re: change of exec vp.
7/1/11 8K re: departure of CFO timothy R. McLevish (change to termination agreement)
5/31/11 8K re: results of 5/24 Annual Shareholder Meeting
5/6/11 10Q & 5/5/11 8K for quarter ended 3/31/11
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

McDonald's MCD: 9/12/11 8K re: August sales
8/19/11 8Ka re: plans to hold annual advisory vote on exec compensation
8/8/11 8K re: investors release
8/5/11 10Q for quarter ended 6/30/11
7/26/11 8K re: amendment to Bylaws
7/22/11 8K re: 2Q results ended 6/30/11
7/1/11 Prospectus re: issuance of 3,430,000 shares of commons stock in Direct Stock Purchase Plan
6/10/11 8K re: press release re: global sales rising 3.1% in May
5/23/11 8K re: voting results of 5/19 Shareholder Meeting
5/20/11 8K re: issuance of $400 mil Medium-Term Notes
5/16/11 proxy material re: stock options
5/9/11 8K re: Investor Release re: April sales
5/6/11 10Q for quarter ended 3/31/11
5/3/11 proxy materials re: reminder how to vote
4/21/11 8K re: first quarter results
4/15/11 Proxy re: talking 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.

Merck MRK: 8/8/11 10Q for quarter ended 6/30/11
7/29/11 8K re: 2Q results
5/27/11 8K re: Voting results of 5/24 Annual Meeting of Shareholders
5/9/11 10Q & 4/29/11 8K re: quarter ended 3/31/11
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

Microsoft MSFT: 7/28/11 10K year ended 6/20/11
7/21/11 8K re: 4Q & year end results
5/10/11 8K re: purchase of Skype for $8.5 bil in cash
4/28/11 10Q & 4/28/11 8K for quarter ended 3/31/11

Pfizer PFE: 8/11 10Q for quarter ended 7/3/11
8/2/11 8K re: 2Q results
5/12/11 10Q & 5/3/11 8K for quarter ended 4/3/11
5/3/11 8K re: voting results of shareholder Meeting held on 4/28
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

Procter & Gamble PG: 9/7/11 Def. 14A Proxy Material re: voting recommendations for directors
8/26/11 Def. 14A Proxy Statement for Notice of Annual Meeting of Shareholder on 10/11/11
8/15/11 8K re: closing of public offering of $1 bil 1.4% Notes due '16
8/10/11 10K for year ended 6/30/11
8/5/11 8K re: results for quarter ended 6/30/11
7/12/11 8K re: quarterly dividend of 0.525 cents payable 8/15 to recorder holders on 7/22
7/1/11 Prelim Proxy re: Annual Shareholder Meeting 10/11/11 in Cincinnati
5/12/11 8KA re: election of Margaret Whitman to Board
5/4/11 8K re: retirement of Ed Shirley as Vice Chair, Beauty & Grooming
4/29/11 10Q & 4/28/11 8K for quarter ended 3/31/11
4/11/11 8K re: declaration of 9% quarterly dividend increase
4/5/11 8K re: sale of Pringles to Diamond

3M MMM: 9/8/11 8K re: Distribution Agrmt with Goldman Sachs re: $3 bil of notes
8/30/11 8K re: $200 mil credit agreement with HSBC Bank
8/10/11 8K re: $1.5 bil 5 year revolving credit agreement with J.P.Morgan Chase
8/4/11 10Q for quarter ended 6/30/11
8/2/11 2 8Ks re: adopotion of executive pre-arranged stock trading plans
8/2/11 8K re: results of 2nd quarter
7/26/11 8K re: 2Q results
5/26/11 8K re: restatement of Form 10K re: produ8ct moves between busienss segments
5/18/11 2 8Ks re: pre-arranged stock trading plans for General Counsel & CEO respectively
5/16/11 8K re: election of Inge Thulin as EVP & COO
5/11/11 8K re: voting results from 5/10/11 Annual Meeting of Stockholders
5/5/11 10Q & 4/26/11 for quarter ended 3/31/11
4/26/11 Proxy material re: how to vote at 5/10 Annual Meeting of Stockholders
4/7/11 8K re: results of first quarter 2011
4/6/11 8K re: executive changes re: chief accounting officer

Travelers TRV: 9/20/11 8K/A re: frequency of non-binding advisory shareholder votes
8/8/11 8K re: restatement of articles of incorporation to cancel Series B Conv. Pref. Stock
7/21/11 & 7/21/11 8K re: Qtr. ended 6/30/11
6/10/11 8K re: fin'l info re: annual investor conference
6/1/11 re: Voting results of 5/26 annual shareholders meeting
4/21/11 10Q & 8K for quarter ended 3/31/11
4/12/11 annual report to shareholders
4/12/11 2 proxy filings re: annual meeting of shareholders on 5/26/11 at Hartford, CT

United Technologies UTX: 9/23/11 8K & Def. 14A Proxy Material re: acqusition of Goodrich
7/25/11 10Q & 7/2011 8K re quarter ended 6/30/11
6/9/11 8K/A re: amendment of 4/13 8K re: frequency of intent to take shareholder advisory votes
4/25/11 10Q for quarter ended 3/31/11
4/20/11 8K re: first quarter results
4/19/11 8K re proposal to amend long term incentive plan

Verizon Communications Inc. VZ: 9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.
7/28/11 10Q & 7/25/11 8K re: quarter ended 6/30/11
7/22/11 8K re: replacement of Ivan Seidenberg as CEO with Lowell C. McAdam effective 8/1/11
6/24/11 8K re: Guarantee of debentures of 10 domestic telephone subsidiaries
5/10/11 8K re: voting results from 5/5/11 Annual Meeting of Shareholders
4/28/11 10Q for quarter ended 3/31/11
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

WalMart WMT: 9/1/11 10Q for quarter ended 7/31/11
8/16/11 8K re: results for 3 and 6 months ended 7/31/11
6/9/11 8K re: voting results of 6/3 annual shareholders meeting
6/3/11 10Q re: quarter ended 4/30/11
5/17/11 8K re: fin'l results for quarter ended 4/30/11
4/19/11 annual report to shareholders
4/18/11 2 Proxy filings re: annual meeting of 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