Tuesday, January 24, 2012

1/24/12 Tues am BofA, JPMorgan agree to $25 Bil Housing Pact


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Post No. 1,437 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 January 1, 2012.

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

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Monday at 12,708.82 down 11.66 or 0.09% from Friday's close of 12,720.48. For the year the Dow is up 4.02%. Of the 30 Dow components 12 gained and 18 declined. The biggest gainer dollar-wise was IBM $189.98 +1.46 0.77% 5,690,319 NYSE and percentage-wise was Bank of America BAC $7.25 +0.18 2.55% 336,781,552 NYSE. The biggest decliner dollar-wise and percentage-wise was Travelers TRV $60.29 -1.30 2.11% 3,472,460 NYSE.

WSJ pC1 "Quiet on the Dow. Too Quiet?" by Jon Cheng says after last year's swings, US stocks have been tranquil in '12 as the Dow has moved less than 100 points on all but one day this year.

Fin Times p24 "Chesapeake leads strong advance of exploration & production sectors" by Ajay Makan says the price of natural gas rebounded from its lowest levels in a decade, helping exploration & production firms record strong gains as Chesapeake Energy said it would reduce gas production due to low prices.

NYT pB9 "Flat finish as investors await Greek debt deal" by AP says markets ended flat on Mon as few developments affected stocks except investor hopes that Greece would eventually reach a deal with private creditors on lowering its debt.

Inv. Bus. Daily pA1 "Stocks quiet after market's 3 week rise" by Vincent Mao says stocks wavered & finished narrowly mixed in lower, quiet trading Monday. It was subdued but basically normal action after the market's 3 week advance. The current outlook is the market is in a confirmed uptrend.

USA Today p4B "S&P 500 manages slight gain despite Nasdaq, Dow losses" by Bloomberg says the S&P eked out a tiny gain Mon while traders kept an eye on talks in Europe to cut Greece's crushing debt load & prevent a global fin'l crisis.

As of the open of the market Tuesday, the current divisor for the Dow Jones Industrial Average found at page C5 of Tuesday's Wall St. Journal is 0.132129493. Tuesday's trailing P/E ratio is 13.72 up from Monday's trailing P/E ratio of 13.7 (year ago it was 14.95); Tuesday's P/E estimate is 12.05 unchanged from Monday's P/E estimate of 12.05 (year ago it was 12.59), and Tuesday's dividend yield is 2.52 unchanged from Monday's dividend yield of 2.52 (last year it was 2.40). 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.

Monday's Dow Jones Industrial Average closing numerator was 1,679.21 down 1.54 from Friday's closing numerator of 1,680.75. 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 Monday's Dow Jones Industrial Average was $55.97 down $0.05 from Friday's average closing price of $56.02. The median closing price of Monday's Dow Jones Industrial Average was $47.12 (DD/HD) down $0.15 from Friday's median closing price of $46.97. The lowest volume was 3M MMM $85.61 -0.04 0.05% 3,454,968 NYSE and the highest volume again was Bank of America BAC $7.25 +0.18 2.55% 336,781,552 NYSE.

If Monday 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 $154 ($168,075 - $167,921).

MarketWatch Monday 1/23/12 4:10 pm by Laura Mandaro says U.S. stocks closed slightly lower Monday, though the S&P 500 eked out a gain in the final hour of trading, as investors took some cash out of a market that's gained about 20% since early October. "Our concern here is that we've had a lot of good news over the last few months. Now we've seen significant market improvements both here and globally -- this cycle of good news might be coming to an end," said Ken Tower, senior analyst at Quantitative Analysis Service. The Dow Jones Industrial Average DJIA -0.09% lost 11.66 points, or 0.1%, to 12,708.82. The S&P 500 SPX +0.05% added 0.6 point, or 0.1%, to 1,316, its fifth day of gains, and at a nearly six-month high. The Nasdaq Composite COMP -0.09% fell 2.5 points, or 0.1%, to 2,784.17.

Monday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market

$30.4 +0.11 0.36% 18,571,999 NYSE: WSJ pB8 "T-Mobile, AT&T ask for airwave transfer" by Greg Bensinger says T-Mobile USA and AT&T filed a request with the US FCC to approve the transfer of $1 bil in wireless airwaves AT&T promised as a result of the failure of its $39 bil bid to take over T-Mobile.

Alcoa AA
$10.25 -.08 0.79% 28,201,447 NYSE: No mentions found.

American Express AXP
$49.44 -0.60 1.2% 7,125,151 NYSE: No mentions found.

Bank of America BAC
$7.25 +0.18 2.55% 336,781,552 NYSE: WSJ pC3 "Deal gets closer on foreclosures" by Ruth Simon, NYT pB1 "Political push moves a deal on mortgages inches closer" by Nelson D. Schwartz, AJC pA1 "Pact struck in housing mess" by J. Scott Trubey say Bank of America, JPMorgan Chase, Wells, Citi and Ally Fin'l agreed with state attorneys general to pay $25 bil to settle claims re: foreclosure practices.

WSJ pC1 "Moynihan can't shake BofA's past" by Dan Fitzpatrick says BofA's CEO will be deposed in the next months in several civil lawsuits over how the bank took over Merrill Lynch.

WSJ pC2 "Arbitration panel rules against BofA brokerage" by Caitlin Nish says ex-Red Sox catcher Douglas Mirabelli won a $1.2 mil arbitration against Merrill Lynch for giving inappropriate investment advice.

Boeing BA
$75.51 -0.01 0.01% 4,067,048 NYSE: No mentions found.

Caterpillar CAT
$106.37 +0.73 0.69% 6,841,652 NYSE: No mentions found.

Chevron CVX
$107.01 +0.12 0.11% 6,346,557 NYSE: No mentions found.

Cisco CSCO
$19.83 -0.09 0.45% 49,761,878 NASDAQ-GS: No mentions found.

Coke KO
$68.53 +0.44 0.65% 6,789,975 NYSE: No mentions found.

Disney DIS
$39.25 -0.06 0.15% 7,050,689 NYSE: No mentions found.

DuPont DD
$49.35 -0.07 0.14% 5,526,690 NYSE: No mentions found.

ExxonMobil XOM
$87.47 -0.02 0.02% 14,795,157 NYSE: WSJ pC1 "Apple looks to put shine back on results" by Kelly Evans says when Apple reports results on Tues it could put it back above Exxon as the nation's most valuable company.

$18.94 -0.21 1.1% 49,203,304 NYSE: No mentions found.

Hewlett-Packard HPQ
$28.68 +0.55 1.96% 22,095,210 NYSE: No mentions found.

Home Depot HD
$44.88 +0.37 0.83% 13,625,412 NYSE: No mentions found.

Intel INTC
$26.71 +0.33 1.25% 68,508,207 NASDAQ-GS: No mentions found.

$189.98 +1.46 0.77% 5,690,319 NYSE: No mentions found.

JPMorgan JPM
$37.66 +0.30 0.8% 27,088,588 NYSE: WSJ pC3 "Deal gets closer on foreclosures" by Ruth Simon, NYT pB1 "Political push moves a deal on mortgages inches closer" by Nelson D. Schwartz, AJC pA1 "Pact struck in housing mess" by J. Scott Trubey say Bank of America, JPMorgan Chase, Wells, Citi and Ally Fin'l agreed with state attorneys general to pay $25 bil to settle claims re: foreclosure practices.

Johnson & Johnson JNJ
$65 -0.27 0.41% 9,854,805 NYSE: No mentions found.

Kraft KFT
$38.47 -0.20 0.52% 8,691,913 NYSE: No mentions found.

McDonald's MCD
$100.95 -0.79 0.78% 6,005,108 NYSE: No mentions found.

Merck MRK
$38.77 -0.43 1.1% 13,306,462 NYSE: No mentions found.

Microsoft MSFT
$29.73 +0.02 0.07% 75,256,709 NASDAQ-GS: No mentions found.

Pfizer PFE
$21.71 -0.19 0.87% 32,525,190 NYSE: Inv. Bus. Daily pA "Pfizer says Pfizer is selling Oxecta in tablet form, a key milestone for Acura Pharma which receives royalties on the painkiller.

Procter & Gamble PG
$65 -1.23 1.86% 14,763,356 NYSE: No mentions found.

$85.61 -0.04 0.05% 3,454,968 NYSE: No mentions found.

Travelers TRV
$60.29 -1.30 2.11% 3,472,460 NYSE: No mentions found.

United Technologies UTX
$76.86 +0.17 0.22% 4,305,466 NYSE: No mentions found.

Verizon VZ
$38.4 -0.57 1.46% 18,922,089 DualListed: No mentions found.

Walmart WMT
$60.91 -0.10 0.16% 6,942,894 NYSE: No mentions found.

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)
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 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
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: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
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

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
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

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
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

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
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: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
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 floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
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

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
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: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
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

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
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: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
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

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

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

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
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

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
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: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan