Monday, April 9, 2012

4/9/12 Mon am Alcoa Reports Earnings Tuesday

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Post No. 1,563 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 recent ranking of the Dow 30 components by market capitalization and Dow 30 components' recent SEC filings.

A read of the print editions of Monday's Barron's, Investor's Business Daily, Wall St. Journal, Financial Times, 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 Thursday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Thursday at 13,060.14 down 14.61 or 0.11% from Wednesday's close of 13,074.75. For the week the Dow was down 151.90 or 1.1% from last Friday's close of 13,212.04 (the Dow was closed Friday for Good Friday). For the year the Dow is up 6.90%. Of the 30 Dow components 11 gained and 19 declined. The biggest gainer dollar-wise was McDonald's and percentage-wise was Home Depot. The biggest decliner dollar-wise was Chevron and percentage-wise was AT&T.

Fri. WSJ pC4 "Dow loses luster, falls 1.1% on week" by Matt Jarzemsky says stocks mostly edged lower, capping the biggest weekly drop of the year as investors weighed steady domestic labor data vs. concerns about Europe's economy.

As of the open of the market on Monday the current divisor for the Dow Jones Industrial Average found at page C4 of Monday's Wall St. Journal is 0.132129493. Monday's trailing P/E ratio is 14.62 down from Thursday's trailing P/E ratio of 14.63 (year ago it was 15.10); Monday's P/E estimate is 12.63 unchanged from Thursday's P/E estimate of 12.63 (year ago it was 12.75) and Monday's dividend yield is 2.51 up from Thursday's dividend yield of 2.50 (last year it was 2.37). 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.

Thursday's Dow Jones Industrial Average closing numerator was 1,725.62 down 1.94 from Tuesday's closing numerator of 1,727.56. 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 Thursday's Dow Jones Industrial Average was $57.52 down $0.07 from Tuesday's average closing price of $57.59. The median closing price of Thursday's Dow Jones Industrial Average was $51.66 (DD/HD) up $0.42 from Wednesday's median closing price of $51.24. The lowest volume was 3M and the highest volume again was Bank of America.

If Thursday 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 $194 ($172,756 - $172,562).

MarketWatch Thursday 4/5/12 4:43 pm by Kate Gibson says U.S. stocks on Thursday closed with weekly losses as investors weighed Europe’s return to the headlines against positive weekly claims data ahead of Friday’s nonfarm payrolls report for March. “Every indication is tomorrow’s job report is going to be strong, and consumer spending has been strong,” said Adrian Day, president of Adrian Day Asset Management in Annapolis, Md. Yet, “in Europe, we’ve got a lot more turmoil coming,” Day added of the case for some trepidation, illustrated by a decline in Spanish bond prices, raising the nation’s borrowing costs. Off 1.2% from last Friday’s close, the Dow Jones Industrial Average DJIA -0.11% on Thursday declined 14.61 points, or 0.1%, at 13,060.1. The S&P 500 Index SPX -0.06% fell nearly 1 point to 1,398.08, or less than 0.1%, with the consumer-discretionary sector faring best and defensive sectors doing the worst among its major industry groups. The S&P 500 posted a weekly drop of 0.7%. The Nasdaq Composite Index COMP +0.40% added 12.41, or 0.4%, points to 3,080.50, leaving it down 0.4% for the week. For every two shares advancing, almost four fell on the New York Stock Exchange, where more than 719 million shares traded. Composite volume neared 3.3 billion. The U.S. stock market is closed on Friday. In economic news, the Labor Department reported claims for unemployment benefits dropped by 6,000 to 357,000 last week. The more stable four-week average declined to 361,750 from 366,000. Read story on jobless claims. “Since last August or September, we’ve had the best six-month stretch we’ve seen in the job market in about six years,” said Phil Orlando, chief equity-market strategist at Federated Investors. Friday’s nonfarm payrolls report from the Labor Department is projected to show an increase of 210,000, according to economists polled by MarketWatch. Read more about expectations for the jobs report. “We think the number is going to be fine,” said Orlando at Federated, which is forecasting a rise of 225,000 in Friday’s report. Target Corp. TGT -0.17% and department-store operator Macy’s Inc. M -0.09% were among those reporting better-than-expected monthly results. “We think the jobs market continues to strengthen; you’re getting sales data from individual stores today, and it looks like companies are blowing out March, on top of a much-stronger-than-expected February, so the consumer appears to be in pretty good shape,” said Orlando. Bed Bath & Beyond Inc. BBBY +8.49% rose 8.5% a day after the retailer reported a more profitable fourth quarter than Wall Street had anticipated. Constellation Brands Inc. STZ -12.47% fell 12% after the wine maker projected earnings for its current fiscal year below analysts’ estimates. Given the S&P 500’s 12% advance in the first quarter, the market was “absolutely” in need of a pause, and concerns about Europe, and in particular Spain’s escalated borrowing costs, provided a minor catalyst, according to Orlando. “There are lots of good reasons that we had a rally in the first quarter. Europe got off the front pages, the U.S. economy is moving along, and the Fed is going to be easing forever, and the market got a little bit complacent,” said Day of Adrian Day Asset Management. “Suddenly, [Federal Reserve Chairman Ben] Bernanke said no QE3 [third round of quantitative easing] coming, and Spain is back on the front pages, and now everyone is saying everything is not going as well as we thought, let’s just take what we’ve got while we’ve got it,” said Day of events in recent days, which had the major indexes down for the first week of the second quarter. But any pullback is more likely to be in the 3% to 5% range, in Orlando’s view. “I don’t think it’ll be a 20% to 30% correction. We’re up almost 33% from the October bottom, and much of that rally was achieved without the participation of hedge funds and retail investors.” “Retail investors are scared to death 2008 is around the corner and they’d lose everything,” Orlando said. “Hedge funds are out of the market because they think the world is coming to an end. The hedges are now realizing they missed out on one of the greatest rallies, so any minor pullback has been met with hedge-fund buying.” Retail investors remain sidelined, but would like to begin returning to equities later in the year, the strategist believes.

Thursday's Closing Dow Numbers and Monday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $30.94 +0.63 2% 21,473,570 NYSE: WSJ pB3 "AT&T Inc. staves off a walkout; talks go on" by Greg Bensinger, NYT pB7 "AT&T workers to stay on job without deal" by AP, USA Today p1B "AT&T, union still working, talking" say AT&T will extend talks with union officials representing 40,000 workers of the Comm. Workers of Amer. Verizon is also trying to negotiate a new contract for its 45,000 workers who belong to the CWA.

NYT pB4 "As technology evolves AT&T adjusts a theme" by Stuart Elliott says AT&T is refreshing its 2 year old advertising slogan "Rethink possible."

Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on bluechip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

Mon. Inv. Bus. Daily pA5 "Mobile data network demands boost Allot, Procera" by Reinhardt Krause says Verizon Wireless had adopted video optimization policies that take into account the type of data plan and smartphones customers use. AT&T has curtailed its all yo can eat unlimited data plans.

Barron's p31 "Our gadget of the week" Microsoft strikes back" by Tiernan Ray says the Nokia Lumia 900 gets 3 of 5 stars. It is $99 with a 2 year AT&T contract and features Windows Phone 7.

Alcoa AA $9.63 -0.18 1.83% 24,537,368 NYSE: WSJ pC2"The ticker" says on Tues. Alcoa will report earnings with expectations of a loss of 3 cents a share vs. 28 cents a year ago, JPMorgan reports on Friday with an expected result of $1.14 per share vs. $1.28 a year ago.

Inv. Bus. Daily pA2 "Aloca", Fri WSJ pB2 "Alcoa curbs alumina production" by Matt Day say Aloca said it will cut refining by 4% in the Atlantic region. The increased supply has lowered aluminum prices to $300 per ton.

American Express AXP $58.1 +0.73 1.27% 4,409,702 NYSE: No mentions fund.

Bank of America BAC $9.23 +0.03 0.33% 180,481,814 NYSE: WSJ pC1 "Banks look to prime S&P's growth engine" by Spencer Jakab says as ernings season kicks off this week, JPMorgan and Bank of America will show earnings growth while most other companies' earnings are declining.

NYT pB1 "Evaluating 2 big banks, side by side" by Nelson Schwartz says until last month it seemed that Citigroup was recovering from the fin'l crisis of '08 than Bank of America but now they have reversed roles.

Inv. Bus. Daily pA6 "bigger is better as banks rebound" by Alan Elliott says Bank of America is up 71% year to date and has 3 quarters of impressive earnings acceleration but analysts see EPS down 29% in Q1.

Boeing BA $73.59 -0.08 0.11% 2,638,496 NYSE: No mentions found.

Caterpilar CAT $105.87 -0.39 0.37% 4,577,408 NYSE: No mentions found.

Chevron CVX $104.75 -0.85 0.8% 5,978,058 NYSE: No mentions found.

Cisco CSCO $20.22 -0.14 0.69% 29,135,226 NASDAQ-GS: Barron's pL14 "Tech: The apple of Investors' eyes" by Mike Hogan says tech stocks have merged as one of the big hunting grounds for both price gains and yield. This isn't the same sector that crushed babyboomer portfolios at the turn of the millenium. After Apple, the top 10 holdings for the 4 big ETFs include Microsoft, Intel, IBM, Oracle and Cisco ETF holdings have also turned into undervalued, low volatility giants which, except for Apple, get no respect.

KO Coke: No mentions found.

Disney DIS $43.08 +0.15 0.35% 6,339,622 NYSE: No mentions found.

DuPont DD $52.7 +0.07 0.13% 4,734,017 NYSE: No mentions found.

Exxon XOM $84.82 -0.16 0.19% 11,953,808 NYSE: Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on bluechip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

GE $19.49 -0.25 1.27% 39,946,735 NYSE: No mentions found.

Hewlett-Packard HPQ $23.11 -0.16 0.69% 14,731,079 NYSE: No mentions found.

Home Depot HD $50.62 +0.77 1.54% 9,550,651 NYSE: No mentions found.

Intel INTC $28.06 +0.13 0.47% 20,918,413 NASDAQ-GS: Barron's pL14 "Tech: The apple of Investors' eyes" by Mike Hogan says tech stocks have merged as one of the big hunting grounds for both price gains and yield. This isn't the same sector that crushed babyboomer portfolios at the turn of the millenium. After Apple, the top 10 holdings for the 4 big ETFs include Microsoft, Intel, IBM, Oracle and Cisco ETF holdings have also turned into undervalued, low volatility giants which, except for Apple, get no respect.

IBM $205.47 -0.58 0.28% 3,799,897 NYSE: WSJ pB1 "With Rometty as Masters, a gender debate simmers" by Spencer E. Ante and Jason Gay says the controversy over whether Augusta National will invite IBM CEO Virginia Rometty is still unsettled. IBM along with Exxon and AT&T are the Masters 3 biggest sponosrs. It didn't admit its first Black member until '90.

Barron's pL14 "Tech: The apple of Investors' eyes" by Mike Hogan says tech stocks have merged as one of the big hunting grounds for both price gains and yield. This isn't the same sector that crushed babyboomer portfolios at the turn of the millenium. After Apple, the top 10 holdings for the 4 big ETFs include Microsoft, Intel, IBM, Oracle and Cisco ETF holdings have also turned into undervalued, low volatility giants which, except for Apple, get no respect.

JPMorgan JPM $44.34 -0.07 0.16% 28,818,743 NYSE: WSJ pC2"The ticker" says on Tues. Alcoa will report earnings with expectations of a loss of 3 cents a share vs. 28 cents a year ago, JPMorgan reports on Friday with an expected result of $1.14 per share vs. $1.28 a year ago.

Fin Times p1 "Banks test CDOs for trade finance" by Patrick Jenkins says JPMorgan is among several banks that have been testing invetor appetitie for the trade finance equivalent of collateralized debt obligations in an attempt to boost lending capacity.

WSJ pC1 "Banks look to prime S&P's growth engine" by Spencer Jakab says as earnings season kicks off this week, JPMorgan and Bank of America will show earnings growth while most other companies' earnings are declining.

Barron's p15 "Week preview" says on April 13 JPMorgan and Wells Fargo lead off big banks' quarterly reports.

Johnson & Johnson JNJ $65.34 -0.05 0.08% 7,901,231 NYSE: Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on bluechip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

Kraft KFT $38.04 -0.18 0.47% 7,627,477 NYSE: No mentions found.

McDonald's MCD $98.62 1+.14 1.17% 5,469,430 NYSE: Mon. Inv. Bus. Dialy pA2, Fri. USA Today p1B "McDonald's Happy Meal case dismissed" say a San Fran judge dismissed a proposed class action lawsuit that tried to stop McDonald's from using toys to market its meals to children in Cal.

Merck MRK $38.88 -0.025 0.06% 13,880,879 NYSE: Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on bluechip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

Microsoft MSFT $31.52 +0.31 0.99% 50,340,569 NASDAQ-GS: Barron's pL14 "Tech: The apple of Investors' eyes" by Mike Hogan says tech stocks have merged as one of the big hunting grounds for both price gains and yield. This isn't the same sector that crushed babyboomer portfolios at the turn of the millenium. After Apple, the top 10 holdings for the 4 big ETFs include Microsoft, Intel, IBM, Oracle and Cisco ETF holdings have also turned into undervalued, low volatility giants which, except for Apple, get no respect.

Barron's p31 "Our gadget of the week" Microsoft strikes back" by Tiernan Ray says the Nokia Lumia 900 gets 3 of 5 stars. It is $99 with a 2 year AT&T contract and features Windows Phone 7.

Pfizer PFE $22.34 -0.045 0.2% 22,046,412 NYSE: Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on bluechip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

Procter & Gamble PG $67.31 +0.05 0.07% 7,695,873 NYSE: Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on bluechip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

MMM $87.27 -0.57 0.65% 2,046,467 NYSE: No mentions found.

Travelers TRV $58.88 -0.34 0.57% 2,930,858 NYSE: No mentions found.

United Technologies UTX $81.6 -0.32 0.39% 2,482,211 NYSE: No mentions found.

Verizon VZ $37.66 -0.73 1.9% 11,666,182 Dual Listed: WSJ pB3 "AT&T Inc. staves off a walkout; talks go on" by Greg Bensinger says AT&T will extend talks with union officials representing 40,000 workers of the Comm. Workers of Amer. Verizon is also trying to negotiate a new contract for its 45,000 workers who belong to the CWA.

Barron's pM9 "Aiming at a continuing recover" by Steven Sears says you could make money by selling puts on blue chip stocks that pay reliable dividends. There is dignity in letting the options market pay you simply for agreeing to buy good stocks, including Procter & Gamble, Exxon Mobil, Pfizer, Merck, Johnson & Johnson, Verizon Comm and AT&T. Selling puts that are 5 or 10% below the stock price and that expire in 3 to 6 months never hurts.

Mon. Inv. Bus. Daily pA5 "Mobile data network demands boost Allot, Procera" by Reinhardt Krause says Verizon Wireless had adopted video optimization policies that take into account the type of data plan and smartphones customers use. AT&T has curtailed its all yo can eat unlimited data plans.

Walmart WMT $60.67 +0.41 0.68% 6,526,809 NYSE: Barron's pM8 "Grocery shopping in China" by Kopin Tan says as the recession threat eases, US food retailers' stocks have eked out small gains, while shares of so called hypermarket operators, the heavyweight class that includes Walmart and costco have jumped 17% over the past year while their Chinese counterparts have slipped weighed down by soaring rents and cautious consumers.

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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 (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon to be replaced by Alex Gorsky 4/24/12 (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner to be replaced July 1 by Don Thompson (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 Inge Thulin (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)

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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 3/7/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $404.5 [5]
2. IBM 229 [1]
3. Microsoft MSFT 268 [8.5]
4. Chevron CVX 216.5 [2]
5. WalMart WMT 205 [3.5]
6. GE 198.5 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. AT&T T 183 [6]
9. Johnson & Johnson JNJ 176.5 [3]
10. Pfizer PFE 161 [7.5]
11. Coke KO 155.5 [2.5]
12. JPMorgan Chase JPM 152.5 [4]
13. Intel INTC 137 [5]
14. Merck MRK 113.5 [3]
15. Verizon VZ 110 [3]
16. Cisco CSCO 104.5 [5.5]
17. McDonald's MCD 102 [1]
18. Bank of America BAC 86 [10.5]
19. United Technologies UTX 75 [1]
20. Disney DIS 75 [2]
21. Home Depot HD 73 [1.5]
22. Caterpillar CAT 70 [.5]
23. Kraft KFT 67 [2]
24. American Express AXP 61 [1]
25. 3M MMM 59.5 [.5]
26. Boeing BA 55 [1]
27. Hewlett-Packard HPQ 48 [2]
28. DuPont DD 47 [1]
29. Travelers TRV 22.5 [.5]
30. Alcoa AA 10 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 3/7/12:

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

AT&T T: 2/29/12 8K re: redemption of 5.87% Notes due 5/15/12
2/24/12 10K for FY ended 12/31/11
2/21/12 Prelim Proxy re: Annual Meeting of Stockholders on 4/27/12 Grand America Hotel, Salt Lake City, Utah
2/13 8K re: sale of $3 bil Global Notes
1/26/12 two 8Ks re redemption of 6.3% Sr. notes & reduction of Citibank lending commitment to $3 bil
1/13/12 two 8Ks re: 4Q results and stock buybacks

Alcoa AA: 2/26/12 8K re: amendment to bylaws re: notice to shareholders
3/1/12 Prelim Proxy re: Annual Meeting of Shareholders 5/4/12 Fairmont Hotel, Pittsburgh, PA
2/28/12 10K/A & 2/16/12 10K for FY ended 12/31/11
1/19/12 8K re: Sir Martin Sorrell's appointment to Board of Dirs
1/12/12 8K e: transcript of 4Q earnings call
1/10 8K re: 4Q results
1/6/12 8K re: closing of smelter plant in Alcoa, Tn & 2 plants in Tx

American Express AXP: 3/2/12 Prelim Proxy re: Annual Meeting of Shareholders 4/30/12 American Express HQ, NYC
2/29/12 & 2/24/12 10K/A & 10K for FY ended 12/31/11
2/15/12 8K re: Deling & write-off stats for 3 months ended 1/31/12
2/13/12 8K re: retirement of Director Dan Akerson
2/9/12 8K re: Investor presentation
1/27/12 8K re: amendment to '07 Incentive Comp Plan
1/19 8K re: 4Q & FY '11 results
1/17/12 8K re: delinq. & write-off stats thru 12/31/11
12/15/11 8K re: delinq. & write-off stats for prior 3 months

Bank of Am BAC: 2/23/12 10K for FY ended 12/31/11
2/10/12 8K re: settlement of mortgage abuse case with state & fed regulators
1/19/12 4Q & FY '11 results
1/13/12 8K re: restated indenture
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

Boeing BA: 2/29/12 8K re: grant of stock options to exec
2/9/12 10K for year ended 12/31/11
1/25/12 8K re: 4Q results
12/15/11 8-K/A election of Gregory D. Smith as CFO

Caterpillar CAT: 2/21/12 10K for FY ended 12/31/11
2/21/12 8K re: Jan '12 dealer stats
1/26/12 two 8Ks re: 4Q & full year '11 results & dealer stats.
12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan

Chevron CVX: 2/23/12 10K for FY ended 12/31/11
1/27/12 two 8Ks re: 4Q results & grant of exec stock options
1/11/12 8K re: forecast for 4Q
12/12/11 8K re grant of exec stock options

Cisco CSCO : 2/21/12 10Q for Qtr ended 1/28/12
2/17/12 8K re: $3 bil credit agreement with Bank of America
2/8/12 8K re: 2Q results
12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan

Coke KO 2/23/12 10K for FY ended 12/31/11
2/21/12 8K re: election of Robert A. Kotick as Dir.
2/15/12 8K re: adoption of restricted stock plan
2/7/12 8K re: 4Q & full year '11 results
12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.

Disney DIS 2/13/12 8K re: sale of $1 bil of 1.125% Global Notes due '17
2/7/12 10Q for 12/31/11
2/7/12 8K re: 1Q results
1/20/12 Proxy re: annual mtg of shareholders on 3/13/12 at 10 am at Westin, Kansas City
12/1/11 8K re sale of $1.6 bil of Global Notes

DuPont DD: 2/9/12 10K re: FY ended 12/31/11
1/25/12 8K re: comp to CEO Ellen Kullman
1/24/12 8K re: Qtr ended 12/31/11 results

ExxonMobil XOM: 2/29/12 8K re: election of Henrietta H. Fore as Dir.
2/24/12 10K for FY ended 12/31/11
2/23/12 8K re: worldwide proved oil & gas reserves
1/31/12 8K re: 4Q results
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

GE: 1/20/12 8K re: 2/24/12 10K re: FY ended 12/31/11

Hewlett-Packard HPQ: 2/22/12 8K re: 1Q results ended 1/31/12
2/3/12 Proxy re: 3/21/12 annual meeting of shareholders at Santa Clara, CA Convention Ctr.
1/30/12 8K re: Lawrence Babbio retiring from Board of Dirs.
1/20/12 8K re: Sari Baldauf retiring from Board of Dirs.
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

Home Depot HD: 2/21/12 8K re: FY '11 results & FY '12 guidance
1/6/12 S-3 Shelf Registration for direct purchase of shares

Intel INTC: 2/28/12 8K re: expansion of JV with Micron Tech for flash memory
2/23/12 10K for FY ended 12/31/11
2/9/12 8K re: settlement of antitrust case beought by NY Atty Gen'l
1/20/12 8K re: appointment of Brian M. Krzanich as COO
1/20/12 8K & 1/19/12 8K re: Qtr & FY 12/31/11 results

IBM: 2/28/12 10K for FY ended 12/31/11
2/9/12 8K re: underwriting agreement for 2.2% Notes due '17
2/3/12 8K re: underwriting agreement for notes due '15 - '17
2/3/12 8K re: exec salaries for top 5 execs
1/3/12 8K re: election of CEO Virginia Rometty & also David Farr to Board of Dirs
1/20/12 8K, 1/19/12 8K, & 1/3/12 8K re: results for FY 12/31/11

JPMorganChase JPM: 3/1/12 8K re: 2/28/12 Investor Day Presentation
2/29/12 10K for FY ended 12/31/11
2/9/12 8K re: global settlement of mortgage foreclosure suits brought by state & fed regulators
1/23/12 8K re: issuance of $3.25 bil notes
1/13/12 two 8Ks re: 4Q results
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

Johnson & Johnson JNJ : 2/23/12 10K for FY ended 12/31/11
2/21/12 8K re: election of Alex Gorsky as CEO & Dir as of 4/26/12
1/24/12 8K re: 4Q & FY 12/31/12 results
1/13/12 8K re: stock option form certificates
12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-1.

Kraft KFT: 2/27/12 10K for FY ended 12/31/11
2/21/12 2 8Ks re: '11 operating results & 4Q results
1/17/12 8K re: forecast of '11 results
1/10/12 8K re: issuance of $800 mil floating rate notes
1/9/12 8K re: execs named for spin-off of N. Amer. grocery business
12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company

McDonald's MCD: 3/7/12 Prelim Proxy re: Annual Meeting of Shareholders 5/24/12 at McDonald's HQ Oak Brook, Ill.
2/24/11 10K for FY ended 12/31/11
2/10/12 8K re: grant of exec stock options
2/8/12 8K re: Jan '12 sales
2/7/12 8K re: issuance of $750 mil med term notes
1/31/12 8K re: exec comp awards to 5 top execs
1/24/12 8K re: 4Q & FY 12/31/11 results
12/2/11 8K re Nov sales rose 7.4%

Merck MRK: 2/28/12 10K for FY ended 12/31/11
2/9/12 8K re: Dr. Thomas Shenk retiring from Board of Dirs.
2/2/12 8K re: full year & 4Q results 12/31/11
1/13/12 8K re: settlement of shareholder derivative suit in US Dist Ct. New Jersey
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

Microsoft MSFT: 2/27/12 8K re: election of John W. Thompson as Dir.
1/27/12 10Q/A & 1/19/12 10Q for year ended 12/31/11
1/19/12 8K re: 2Q 12/31/11 results
12/22/11 8K/A re frequency of advisory votes on exec pay

Pfizer PFE: 2/28/12 10K for FY ended 12/31/12
1/31/12 8K re: 4Q & full year 12/31/11 results
12/13/11 8K re election of 3 new members to Board

Procter & Gamble PG:2/23/12 8K re: Consumer Analyst Conference slides 2/23/12
2/15/12 8K re: sale of Pringles to Kellogg for $2.7 bil in cash
2/10/12 8K re: restructuring of Beauty & Grooming Global Business Unit
2/6/12 8K re: issuance of $2 bil 2.3% & floating rate notes
1/27/12 10Q & two 8Ks re: 12/31/11 results
1/17/12 8K re: change to segment reporting structure
1/10/12 8K re: declaration of quarterly dividend of 52 & half cents per share

3M MMM:2 8ks 2/21/12 & 2 8ks 2/16/12 re: exec pre-arranged stock trading plans
2/16/12 10K FY 12/31/11
2/8/12 8K re: Inge G. Thulin replacing George W. Buckley as CEO on 2/24/12
1/26/12 8K re: 4Q & full FY 12/31/11 results
12/6/11 8K re eps guidance

Travelers TRV: 2/16/12 10K FY 12/31/11
1/24/12 8K re: quarter results ending 12/31/11

United Technologies UTX: 2/24/12 Def. Proxy re: 4/11/12 Annual Meeting of Shareholders Riviera Theatre Charleston, SC
2/17/12 8K re: election of Pedro Baranda as Pres. of Otis Elevator
2/9/12 10K for year ended 12/31/11
1/25/12 8K re: 4Q & full '11 year results

Verizon Communications Inc. VZ: 2/24/12 10K FY 12/31/11
1/24/12 8K re: 4Q results & '12 outlook
1/6/12 8K re: investor presentation
12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil

WalMart WMT: 2/21/12 8K re: 4Q results
1/25/12 8K re: election of Rosalind Brewer as CEO of Sam's Club
12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11

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