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Post No. 1,338 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 Friday's Wall St. Journal, New York Times & Miami Herald 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. The stock market in the US was closed Thursday for Thanksgiving.
Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Wednesday at 11,257.55 down 236.17 or 2.05% from Tuesday's close of 11,493.72. For the year the Dow is down %2.8. Of the 30 Dow components all 30 declined. The biggest decliner dollar-wise was Chevron CVX $93.75 -2.67 2.77% 11,652,859 NYSE and percentage-wise was Bank of America BAC $5.14 -0.23 4.28% 264,475,593 NYSE.
NYT pB4 "Portugal downgrade hurts stocks in Europe" by David Jolly says european stocks and the euro fell Thurs after a credit agency cut Portugal's sovereign debt to junk or below investment grade.
As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C6 of Friday's Wall St. Journal is 0.132129493. Friday's trailing P/E ratio is 12.18 down from Thursday's trailing P/E ratio of 12.43 (year ago it was 14.26); Friday's P/E estimate is 12.10 unchanged from yesterday's P/E estimate of 12.10 (year ago it was 13.17), and today's dividend yield is 2.78 up from Thursday's dividend yield of 2.72 (last year it was 2.58). 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 1,487.45 down 31.2 from Tuesday's closing numerator of 1,518.65. 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 $49.58 down $1.04 from Tuesday's average closing price of $50.62. The median closing price of Wednesday's Dow Jones Industrial Average was $39.72 (DD/VZ) up 0.02 from Tuesday's median closing price of 1.09. The lowest volume was 3M MMM $75.54 -2.29 2.94% 4,107,488 NYSE and the highest volume again was Bank of America BAC $5.14 -0.23 4.28% 264,475,593 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 $3,120 ($151,865.37 $148,745).
MarketWatch Wednesday 11/23/11 4:28 pm by Kate Gibson says US stocks indexes lost more than 2% of their value Wednesday, and the S&P 500 Index slid for a sixth day, after a poorly received German debt sale again pushed up European bond yields.
The European debt crisis appeared to escalate after a failed German government-bond auction. Have investors gone on strike and decided that bunds are no longer a safe-haven? “It’s Europe in a nutshell, the German auction didn’t go well, and credit spreads generally widened,” said Phil Orlando, chief equity strategist at Federated Investors. “There’s a general lack of confidence that Europe is going to get this done, in terms of sovereign-debt problems, and that’s spilling over from across the pond and driving U.S. stocks even lower, despite the fact from our perspective it looks pretty oversold here,” Orlando added.The Dow Jones Industrial Average fell 236.17 points, or 2.1%, to 11,257.55, with Bank of America Corp. leading a decline that included all 30 of the benchmark’s components.
In its longest losing streak since a seven-session drought that ended Aug. 2, the S&P 500 Index lost 26.25 points, or 2.2%, to 1,161.79, with energy hardest hit among its 10 industry groups.“We are in the mode where everyone just wants out at any price and they sell what they can. Support levels become less meaningful under this condition. However, if support on the S&P at 1,150 means anything, then you should consider nibbling on the long side near 1,160. If we get a clear break of 1,150, exit the trade,” Elliot Spar wrote in afternoon emailed commentary.
The Nasdaq Composite declined 61.20 points, or 2.4%, to 2,460.08.For every stock that rose more than seven fell on the New York Stock Exchange, where trading volume was especially anemic ahead of the Thanksgiving holiday on Thursday, when the U.S. market will be closed.Nearly 876 million shares traded on the NYSE. Composite volume neared 3.8 billion.“When we’re in a light-volume type of environment, they’ll be a disproportional swing in the market, we’re seeing that now,” said Orlando.In addition to Europe’s troubles, soft economic data out of China weighed on investor sentiment. A report had manufacturing in China narrowing the most in 32 months in November.“The silver lining in China’s low PMI is low inflation,” said Art Hogan, market strategist at Lazard Capital Markets.Germany’s debt agency had to keep nearly half of a sale of 6 billion euros as a result of too few bidders, with the poor results pushing up the borrowing cost over 10 years for Europe’s powerhouse economy.Conversely, the United States sold $29 billion in seven-year notes at a record low auction yield on Wednesday, with the sale following a record-low-auction yield at Tuesday’s five-year note sale.“The U.S. is the best house in a bad neighborhood,” said Mark Coffelt, portfolio manager of the Empiric Core Equity Fund.Wall Street offered little reaction to domestic data, which showed consumer spending rising less than projected as well as orders for durable goods falling in October.Other reports had more first-time applicants than estimated filing for jobless benefits last week, although the overall count remained under 400,000 for a third week, while U.S. consumer confidence for November ticked up to its highest level since June, albeit at a relatively low level.“The domestic economic news this morning wasn’t bad. On balance, there was nothing in the data that was ugly or really horrible, but Europe got the ball rolling downhill, and there was nothing in the reports that was able to stem the tide,” said Orlando.
Wednesday's Closing Dow Numbers and Friday's News:
Symbol Last Sale Change % Change Share Volume Market
AT&T T $27.55 -0.53 1.89% 30,166,430 NYSE: WSJ pA1 AT&T's T-Mobile deal teeters" by Anton Toianovski, USA Today p1B "AT&T takes $4B charge to reflect takeover uncertainty" by Bloomberg say AT&T signaled for the first time that its planned $39 bil acquisition of T-Mobile is more likely to fail than to succeed saying it would set aside $4 bil in this year's final quarter to cover the cost of the deal falling apart.
Alcoa AA $8.88 -0.38 4.1% 35,967,855 NYSE: No mentions found.
American Express AXP $45.1 -0.90 1.96% 7,214,166 NYSE: No mentions found.
Bank of America BAC $5.14 -0.23 4.28% 264,475,593 NYSE: No mentions found.
Boeing BA $62.36 -1.99 3.09% 4,270,077 NYSE: No mentions found.
Caterpillar CAT $87.76 -2.23 2.48% 7,636,639 NYSE: No mentions found.
Chevron CVX $93.75 -2.67 2.77% 11,652,859 NYSE: No mentions found.
CSCO $17.405 -0.515 2.87% 47,612,432 NASDAQ-GS: No mentions found.
Coke KO $64.87 -1.10 1.67% 7,039,437 NYSE: No mentions found.
Disney DIS $33.4 -0.62 1.82% 10,761,362 NYSE: WSJ pD4 "Disney's Broadway Nanny with legs" by Ellen Camerman says since it opened in '06 Mary Poppins co-produced by Disney and British impressario Cameron Mackintosh has grossed more than $230 mil on Broadway, only 5 shows grossed more in their first 5 years.
WSJ pB5 "Steve Job's 7.7% stake in Disney transferred to trust" by Erica Orden says his shares have been transferred to a trust run by his widow. Jobs was Disney's largest shareholder, having acquired 138 mil shares when he sold Pixar to Disney in '06 for $7.4 bil
DuPont DD $44.08 -1.32 2.91% 6,440,281 NYSE: No mentions found.
Exxon XOM $74.58 -1.45 1.91% 23,314,157 NYSE: No mentions found.
GE $14.73 -0.26 1.73% 66,853,917 NYSE: No mentions found.
Hewlett-Packard HPQ $25.78 -0.87 3.26% 24,481,695 NYSE: No mentions found.
Home Depot HD $36.52 -0.58 1.56% 6,704,387 NYSE: No mentions found.
Intel INTC $22.7 -0.54 2.32% 52,676,177 NASDAQ-GS: No mentions found.
IBM $177.95 -3.36 1.85% 4,797,236 NYSE: No mentions found.
JPMorgan JPM $28.38 -1.03 3.5% 44,440,409 NYSE: No mentions found.
Johnson & Johnson JNJ $61.99 -0.91 1.45% 10,352,360 NYSE: No mentions found.
Kraft KFT $34.23 --0.32 0.93% 7,265,413 NYSE: No mentions found.
McDonald's MCD $91.87 -0.78 0.84% 4,555,428 NYSE: No mentions found.
Merck MRK $33.19 -0.62 1.83% 13,708,800 NYSE: WSJ pB1 "German Merck o US Merck: get out of my Facebook" by Neetha Mahadevan says German Merck KGaa has asked to New York City court to force Facebook to explain how it lost its page on Facebook to US based rival Merck & Co. The 2 Mercks became separate under the Treaty of Versailles, each owning rights to the Merck trademark in different geographic areas as part of German's reparations after WWI.
Microsoft MSFT $24.47 -0.32 1.29% 49,089,017 NASDAQ-GS: No mentions found.
Pfizer PFE $18.45 -0.45 2.38% 36,986,460 NYSE: No mentions found.
Procter & Gamble PG $61.06 -0.63 1.02% 7,473,661 NYSE: WSJ pB8 "The chips in Diamond deal for Pringles" by John Jannarone says the latest blow to Diamond Foods' deal with Procter & Gamble amy be what finally splits it open. Shares of Diamond, which wants to buy Pringles snack biz from P&G fell to $27.80 down from over $90 a week ego due the claims that Diamond made a payment to walnut growers that may have been related to an earlier reporting period. Now an audit committee member who had rescused himself from the Diamond probe died possibly from suicide.
3M MMM $75.54 -2.29 2.94% 4,107,488 NYSE: No mentions found.
Travelers TRV $52.76 -1.18 2.19% 5,179,398 NYSE: No mentions found.
United Technologies UTX $70.97 -2.08 2.85% 4,711,368 NYSE: No mentions found.
Verizon VZ $35.35 -0.84 2.32% 12,881,283 DualListed: No mentions found.
Walmart WMT $56.64 -0.21 0.37% 8,257,306 NYSE: WSJ pB2 "Occupy aims at Holiday shopping" by Ann Zimmeman says Occupy Wall Street potesters across the US are planning a host of actions during the Black Friday shopping weekend including marching on Walmart supecenters.
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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)
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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