11/6/11 Sun/Sat Barron's Says Proctoer & Samble's Pringles Sale Endangered by Charges Diamond Deferred Walnut Costs

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Post No. 1,304 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 November 1, 2011.

A read of the print editions of Monday's Barron's and the combined Sat/Sun issues of each of The Wall St. Journal & Financial Times, & Saturday's issue of New York Times & 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 Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 11,983.24 down 61.23 or 0.51% from Thursday's close of 12,044.47. For the week the Dow is down 247.87 points or 2.03% from last Friday's close of 12,231.11. For the year the Dow is up 3.05%. Of the 30 Dow components 5 gained and 25 declined. The biggest gainer dollar-wise and percentage-wise was McDonald's MCD $93.81 +0.81 0.87% 5,609,485 NYSE. The biggest decliner dollar-wise was IBM $186.38 -0.92 0.49% 3,236,852 NYSE and percentage-wise was Bank of America BAC $6.49 -0.42 6.08% 264,952,030 NYSE.

WSJ pB5 "Blue chips snap winning ways" by Brendan Conway says stocks capped their 1st weekly loss since Sept with a drop in Fri as Europe's sovereign debt problems overshadowed a small gain in US employment.

Fin Times p11 "Jump in volatility takes the shine off S&P 500 recovery" by Ajay Makan says Wall St's fin'l institutions were in the cross hairs this week as broker-dealer MF Global filed for bankruptcy & Jefferies the investment bank suffered heavy selling.

Sat NYT pB5 "Anxious over jobs & Europe, Wall st falls for week" by Christine Hauser says stocks dipped on Wall St after sinking in Europe on Fri as the Group of 20 nations ended a summit meeting with seemingly little headway in resolving the debt crisis in the euro zone. The delcines pushed equities markets to cumulative losses for the week, with indexes in the US shedding about 2% or more.

As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B6 of Saturday's Wall St. Journal is 0.132129493. Saturday's trailing P/E ratio is 12.89 down from Friday's trailing P/E ratio of 12.95 (year ago it was 14.63); Saturday's P/E estimate is 12.35 down from Friday's P/E estimate of 12.59 (year ago it was 13.46), and Saturday's dividend yield is 2.59 up from yesterday's dividend yield of 2.58 (last year it was 2.47). 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.

Friday's Dow Jones Industrial Average closing numerator was 1,583.34 down 8.09 from Thursday's closing numerator of 1,591.43. 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 Friday's Dow Jones Industrial Average was $52.78 down 0.27 from Thursday's average closing price of $53.05. The median closing price of Friday's Dow Jones Industrial Average was $42.94 (DD/VZ) down 0.20 from Thursday's median closing price of 43.14. The lowest volume was Travelers TRV $58.14 -0.44 0.75% 2,991,502 NYSE and the highest volume again was Bank of America BAC $6.49 -0.42 6.08% 264,952,030 NYSE.

If Friday 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 $809 ($159,143 - $158,340).

MarketWatch Friday 11/4/11 5:08 pm by Kate Gibson says US stocks fell Friday, with the Dow Jones Industrial Average posting its first down week in six, after an unexpected drop in the U.S. jobless rate proved a mere blip on the screen for investors focused on Europe. “This week equity trading reflects that investors are extremely confused, and they deserve to be. Until we get some clarity, the market is handicapped by it,” Michael Gibbs, managing director and director of equity strategy at Morgan Keegan, said of the ongoing uncertainty over European Union efforts to get a handle on its sovereign debt. “Regardless what happens, the EU bailout terms and austerity etc. will be accepted, but the problem centers on how quickly this takes place,” said Gibbs. This week, European leaders warned they would withhold aid to Greece until the country resolves its political differences, which could involve the opposition party forcing elections, a process that could take weeks. The Labor Department on Friday reported the jobless rate unexpectedly fell in October, to a six-month low of 9% from 9.1% in September. The report had payrolls rising by 80,000 last month, a bit less than expected, but gains for August and September were revised higher. “The jobs report if you net it out was a positive report, with the previous two months revised up dramatically, but everything is insignificant and is going to take a back seat until we get some clarity” from Europe, Gibbs said. After falling as much as 194 points, the Dow Jones Industrial Average ended down 61.23 points, or 0.5%, to 11,983.24. Bank of America Corp. shares fell 6.1%, leading declines that included all but five of its 30 components. Volatility puts short sellers to testGreg Swenson, co-manager of the Grizzly Short Fund, discusses the challenges that volatile markets have presented for short-sellers lately. But his fund is sticking to its short position on the home-builder sector. For the week, the blue-chip index fell 2%, breaking a five-week string of gains. Retreating back into negative turf for 2011, the S&P 500 Index declined 7.92 points, or 0.6%, to 1,253.23, with finance companies falling the hardest among its 10 major sectors, all of which were in the red.
The S&P 500 lost 2.5% for the week, quitting four weeks of gains. It’s still up 17% from intraday lows reached Oct. 4. The Nasdaq Composite Index lost 11.82 points, or 0.4%, to 2,686.15. Bucking the broad trend, Groupon Inc. rallied 31% in the online coupon seller’s first day of trading. Shares of Starbucks Corp. gained 6.7% after the coffee seller reported quarterly results that topped estimates. For every two stocks rising, about three fell on the New York Stock Exchange, where 861 million shares traded. In Athens, Greek Prime Minister George Papandreou’s government faces a vote of confidence following his call Monday for a referendum on a bailout for Greece. The vote proposal was rescinded Thursday. “What is concerning Wall Street the most is the uncertainty that this could keep dragging on a while,” Brad Sorensen, director of market and sector analysis at the Schwab Center for Financial Research, said of the ongoing drama playing out in Europe, where the Group of 20 nations were unable to reach agreement on the role of using the International Monetary Fund. The October jobs report “tells the same story as the past couple of months, that the economy is growing, but not robustly, and consumer spending is holding up despite relatively low confidence numbers,” said Sorensen. Financial institutions’ sovereign debt exposure has added to investor unease in recent weeks. Four days after MF Global Holdings filed for bankruptcy protection stemming from losing bets on European debt, Jon Corzine stepped down Friday from his role as chief executive officer.

Friday's Closing Dow Numbers & Saturday's News:

Symbol Last Sale Change % Change Share Volume Market
AT&T T
$29.16 -0.28 0.95% 18,311,404 NYSE: WSJ pB4 "Sprint taps the bond market" by Katy Burne says Sprint Nextel will face a cash shortfall in the next 2 years as it buys millions of Apple iPhones & upgrades its network to a 4th generation standard similar to that used by rivals AT&T & Verizon.

Alcoa AA
$10.93 +0.06 0.55% 24,944,802 NYSE: Barron's p17 "Week preview" says on Wednesday Alcoa will hold a meeting with analysts.

American Express AXP
$51.18 -0.50 0.97% 5,287,782 NYSE: Barron's "last review" says MF Global Holdings filed for bankruptcy. It had $659 mil in customer accounts at JPMorgan. Bank of America called off its plan to charge $5 a month for debit-cards & also said it would issue $2.8 bil of new shares to retire preferred stock & debt.

Bank of America BAC
$6.49 -0.42 6.08% 264,952,030 NYSE: Fin Times p9 "US credit unions surge in popularity" by Shannon Bond, WSJ pB18 "Moynihan Fip-flops again, as BofA looks to raise capital" by David Reilly, Barron's "last review" say MF Global Holdings filed for bankruptcy. Its missing $659 mil in customer accounts may have been found at JPMorgan. Bank of America called off its plan to charge $5 a month for debit-cards & also said it would issue $2.8 bil of new shares to retire preferred stock & debt.

WSJ pB16 "Bucket list: G-20 panel names top global banks" by Geoffrey Smith, Sat NYT pB3 "Regulators name 29 banks critical to global stability" by Reuters say the Basel Committee of the Group of 20 published the list of large banks that have until the end of '12 to detail how their businesses should unwind if they collapse and includes Bank of America and JPMorgan.

Boeing BA
$65.8 -0.39 0.59% 3,457,605 NYSE: No mentions found.

Caterpillar CAT
$95.74 -0.26 0.27% 6,815,527 NYSE: No mentions found.

Chevron CVX
$106.43 +0.30 0.28% 8,399,204 NYSE: No mentions found.

Cisco CSCO
$18.03 -0.15 0.83% 39,784,622 NASDAQ-GS: No mentions found.

Coke KO
$67.78 -0.87 1.27% 7,577,144 NYSE: No mentions found.

Disney DIS
$34.76 -0.27 0.77% 6,427,924 NYSE: No mentions found.

DuPont DD
$48.7 -0.15 0.31% 7,042,357 NYSE: No mentions found.

Exxon XOM
$78.52 -0.34 0.43% 18,180,153 NYSE: No mentions found.

GE
$16.39 -0.28 1.68% 41,597,057 NYSE: No mentions found.

Hewlett-Packard HPQ
$26.97 +0.13 0.48% 12,628,422 NYSE: No mentions found.

Home Depot HD
$36.39 -0.06 0.16% 6,242,395 NYSE: No mentions found.

Intel INTC
$23.74 -0.46 1.9% 46,445,649 NASDAQ-GS: No mentions found.

IBM
$186.38 -0.92 0.49% 3,236,852 NYSE: Sat NYT pB1 "Top aide to a CEO: her husband" by James Stewart says Mark Rometty has been very supportive of Virginia M. Rometty, the new CEO of IBM.

Sat NYT pB14 "John R. Opel, who made IBM a colussus, dies at 86" by Andrew Pollack says John R. Opel IBM CEO from '81 to '85 died.

JPMorgan JPM
$33.97 -0.41 1.19% 30,834,376 NYSE: WSJ pB1 "Lost and Found Mayble" by Aaron Luchette, Barron's "last review" sayss MF Global Holdings filed for bankruptcy. Its missing $659 mil in customer accounts may have been found at JPMorgan. Bank of America called off its plan to charge $5 a month for debit-cards & also said it would issue $2.8 bil of new shares to retire preferred stock & debt.

WSJ pB16 "Bucket list: G-20 panel names top global banks" by Geoffrey Smith says the Basel Committee of the Group of 20 published the list of large banks that have until the end of '12 to detail how their businesses should unwind if they collapse and includes Bank of America and JPMorgan.

Johnson & Johnson JNJ
$64.12 -0.22 0.34% 9,720,960 NYSE: No mentions found.

Kraft KFT
$35.18 -0.60 1.68% 9,784,111 NYSE: No mentions found.

McDonald's MCD
$93.81 +0.81 0.87% 5,609,485 NYSE: No mentions found.

Merck MRK
$34.02 -0.51 1.48% 10,703,701 NYSE: No mentions found.

Microsoft MSFT
$26.25 -0.28 1.06% 36,531,671 NASDAQ-GS: No mentions found.

Pfizer PFE
$19.66 -0.22 1.11% 50,848,218 NYSE: No mentions found.

Procter & Gamble PG
$63.03 -0.18 0.28% 7,746,923 NYSE: Barron's p45 "Getting to the nut of the problem" by Bill Alpert suggests that Diamond Foods pushed walnut costs forward to make fiscal '11 earnings look good ahead of its acquisition, for cash or stock of Procter & Gamble's Pringles brand.

3M MMM
$79.3 -0.34 0.43% 3,770,961 NYSE: No mentions found.

Travelers TRV
$58.14 -0.44 0.75% 2,991,502 NYSE: No mentions found.

United Technologies UTX
$77.8 -0.64 0.82% 4,130,956 NYSE: No mentions found.

Verizon VZ
$37.17 -0.28 0.75% 8,989,055 DualListed: No mentions found.

Walmart WMT
$57.5 +0.08 0.14% 7,004,076 NYSE: No mentions found.

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Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 11/1/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $379.5 [5]
2. Microsoft MSFT 223 [8.5]
3. IBM 217.5 [1]
4. Chevron CVX 210.5 [2]
5. WalMart WMT 195.5 [3.5]
6. GE 177 [10.5]
7. Johnson & Johnson JNJ 176.5 [3]
8. Procter & Gamble PG 176 [3]
9. AT&T T 173.5 [6]
10. Coke KO 155 [2.5]
11. Pfizer PFE 150.5 [8]
12. JPMorgan Chase JPM 135.5 [4]
13. Intel INTC 129 [5]
14. Merck MRK 106 [3]
15. Verizon VZ 104.5 [3]
16. Cisco CSCO 102 [5.5]
17. McDonald's MCD 96 [1]
18. United Technologies UTX 70.5 [1]
19. Bank of America BAC 69 [10]
20. Disney DIS 65 [2]
21. Kraft KFT 62 [2]
22. Caterpillar CAT 61 [.5]
23. American Express AXP 60.5 [1]
24. Home Depot HD 56 [1.5]
25. 3M MMM 56 [.5]
26. Hewlett-Packard HPQ 53 [2]
27. Boeing BA 49 [1]
28. DuPont DD 44.5 [1]
29. Travelers TRV 24 [.5]
30. Alcoa AA 11.5 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 11/1/11:

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

AT&T T: 10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results
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

Alcoa AA: 10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11
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

Bank of Am BAC: 10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price
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.

Boeing BA: 10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director
9/30/11 8K & 8KA re: frequency of shareholder advisory votes

Caterpiller CAT: 10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11
9/30/11 8K re: price increases
9/29/11 8K re: 3 month dealer stats
9/20/11 8KA 3 Mos dealer stats thru Aug
9/16/11 re: credit agreement
8/18/11 8K re: 3 mos. dealer stats
8/12/11 8K re: clarification of order backlog
8/4/11 10Q for quarter ended 6/30/11

Chevron CVX: 10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results
9/7/11 8K/A re: frequency of shareholder advisory votes
8/4/11 10Q for quarter ended 6/30/11

Cisco CSCO 10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA
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

Coke KO 10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
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

Disney DIS 10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract
8/19/11 8K re: sale of $750 mil of Global Notes
8/19 10Q & 8/9 8K re: results of quarter ended 7/2/11

DuPont DD: 10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11
8/8/11 10Q for quarter ended 6/30/11

ExxonMobil XOM: 10/27/11 8K re: 3Qtr results
8/4/11 10Q for quarter ended 6/30/11

GE: 10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement 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: purchase 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

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

Intel INTC: 10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes
8/8/11 10Q for quarter ended 7/2/11

IBM: 10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results
9/30/11 8K re: reorganiz. of Retail Fin'l Services & Card Business segments
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

Johnson & Johnson JNJ : 10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11
8/9/11 10Q for quarter ended 7/3/11

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

McDonald's MCD: 10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend
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

Merck MRK: 10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp
8/8/11 10Q for quarter ended 6/30/11

Microsoft MSFT: 10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 8/11 10Q for quarter ended 7/3/11
8/2/11 8K re: 2Q results

Procter & Gamble PG: 10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy
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

3M MMM: 10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes
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: adoption of executive pre-arranged stock trading plans
8/2/11 8K re: results of 2nd quarter

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
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

United Technologies UTX: 10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft
9/29/11 8K re: exec personnel changes
9/23/11 8K & Def. 14A Proxy Material re: acquisition of Goodrich

Verizon Communications Inc. VZ: 10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 9/29/11 8K re: adoption of Deferred Com Plan
9/27/11 8K re: retirement of Vice-Chair Eduardo Castro-Wright
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