Wednesday, May 16, 2012

5/16/12 Wed pm Dow Closes at 12,598.55 down 33.45 or 0.26%


The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.

Post No. 1,628 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 as of May 16 and recent Dow 30 components' SEC filings as of May 16.

The Dow Jones Industrial Average closed Wednesday at 12,598.55 down 33.45 or 0.26% from Tuesday's close of 12,632.  Of the 30 Dow components 10 gained and 20 declined. The biggest gainer dollar-wise was IBM and percentage-wise was GE. The biggest decliner dollar-wise was United Technologies  and percentage-wise was Bank of America.

As of the open of the market on Wednesday the current divisor for the Dow Jones Industrial Average found at page C5 of  Wednesday's Wall St. Journal is 0.132129493. Wednesday's trailing P/E ratio is 13.90 down from   yesterday's trailing P/E ratio of 13.99 (year ago it was 14.32); today's P/E estimate is 12.11 unchanged from Tuesday's P/E estimate of 12.11 (year ago it was 12.74) and today's dividend yield is 2.62 up from yesterday's dividend yield of 2.60 (last year it was 2.35). 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 1,664.64 down 4.42 from Tuesday's closing numerator of 1,669.06. 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 $55.49 down $0.15 from Tuesday's average closing price of $55.64. The median closing price of Wednesday's Dow Jones Industrial Average was $49.31 (DD/HD) down $0.10 from Tuesday's median closing price of $49.41. The lowest volume was Travelers  and the highest volume again was Bank of America.

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 $442 ($166,906 -  $166,464).

MarketWatch Wednesday 4:16 by Kate Gibson says U.S. stocksretreated Wednesday as anxiety over Greece's troubles derailed enthusiasm that came with upbeat economic reports on U.S. industrial output and housing. Down for a 10th out of the last 11 sessions, the Dow industrials fell 33.45 points, or 0.3%, to 12,598.55, its lowest close since January. The S&P 500 Index  SPX -0.44% declined 5.86 points, or 0.4%, to 1,324.80. The Nasdaq Composite  COMP -0.68% shed 19.72 points, or 0.7%, to 2,874.04.
Wednesday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market
TNYSE
AANYSE
AXPNYSE
BACNYSE
BANYSE
CATNYSE
CVXNYSE
CSCONASDAQ-GS
KONYSE
DISNYSE
DDNYSE
XOMNYSE
GENYSE
HPQNYSE
HDNYSE
INTCNASDAQ-GS
IBMNYSE
JPMNYSE
JNJNYSE
KFTNYSE
MCDNYSE
MRKNYSE
MSFTNASDAQ-GS
PFENYSE

******************
The following are excerpts from Wed. morning's Blog.

A read of the print editions of Wednesday's Wall St. Journal, Financial Times, New York Times, USA Today  & 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 a separate table of Dow component's symbol and Tuesday's stock prices and related data in alphabetical order.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Tuesday at 12,632 down 63.35 or 0.5% from Monday's close of 12,695.35.  Of the 30 Dow components 6 gained and 24 declined. The biggest gainer dollar-wise and percentage-wise was JPMorgan. The biggest decliner dollar-wise was Home Depot and percentage-wise was Hewlett-Packard.

WSJ pC4 "Blue chips slide to 4 month low" by Matt Jarzemsky says the Dow fell for the 9th session in 10 as comments from Greek leaders accelerated concerns about the nation's possible exit from the  euro zone & the health of its banks.  Home Depot led clines falling $1.21 after it reported 1Q earnings that topped analyst estimates but missed rev forecasts.

Fin Times p22 "Groupon receies a boost with its first profit as a public company" by Arash Massoudi says the market fell due to news that Greek officials would need to hold fresh elections.

NYT pB11 "Markets slump as Greece falters anew" by Reuters says stocks fell fro the 8th day out of 10 as uncertainty steming from the political stalemate in Greece gave investors anothe reason to be cautious and sellers came out late in the day.

USA Today p4B "Stocks slide on uncertainty as Greece faces new election" by AP says Europe's latest political impasse cast a gloom over fin'l markets Tues casuing the euro to plunge & extending the slide of the Dow to a near 5% loss in 2 weeks.

Tuesday's Dow Jones Industrial Average closing numerator was 1,669.06 down 18.37 from Monday's closing numerator of 1,677.43. 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 Tuesday's Dow Jones Industrial Average was $55.64 down $0.27 from Monday's average closing price of $55.91. The median closing price of Tuesday's Dow Jones Industrial Average was $49.41 (DD/HD) down $1.03 from Monday's median closing price of $50.44. The lowest volume was 3M  and the highest volume again was Bank of America.

If Tuesday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $837 ($167,743 - $166,906).

MarketWatch Tuesday 4:25 by Kate Gibson says U.S. stocks declined Tuesday, with the Dow industrials ending near a four-month low, as economic reports failed to deflect the latest breakdown in Greece’s attempts to form a coalition.“Today we had some good economic numbers, but worries over in euro land” hit the single currency, said Peter Cardillo, chief economist at Rockwell Gobal Capital. The euro’s fall helped propel the dollar to a four-month high as investors sought the perceived safety of the American currency over riskier assets, including equities and commodities.Finishing lower for a ninth out of the last 10 sessions, the Dow Jones Industrial Average  DJIA -0.50%  shed 63.35 points, or 0.5%, to 12,632.J.P. Morgan Chase & Co. / JPM +1.26%  rose 1.3% after Chief Executive Jamie Dimon said he did not envision the bank’s $2 billion trading loss impacting the bank’s dividend. Home Depot Inc.HD -2.43%  fell 2.4% after the home-improvement retailer’s revenue outlook missed estimates.Lisa Lindsley of AFSCME details the union's proposal at J.P. Morgan Chase's annual meeting, calling on the bank to adopt an independent board chairman who will provide improved oversight and risk management. The S&P 500 Index  SPX -0.57%  fell 7.69 points, or 0.6%, to 1,330.66, ending below a key technical support, Cardillo said.“If we close below 1,335 on the S&P, we could be headed for a more serious pullback than previously thought,” he said.TJX Cos. TJX +6.93%  rallied 6.9% after the off-price retailer reported increased quarterly profit that beat Wall Street’s estimates and hiked its 2012 outlook.The Nasdaq Composite Index COMP -0.30%  declined 8.82 points, or 0.3%, to 2,893.76.Decliners outpaced advancers nearly 2-to-1 on the New York Stock Exchange, where 869 million shares traded. Composite volume neared 4.1 billion.Wall Street is in the process of “wringing out the excess of overoptimism. Once we’ve done that, we can get back to looking at fundamentals with more realistic eyes, and there are some bright spots: the United States is holding up reasonably well,” said Bruce McCain, chief investment strategist at Key Private Bank.“People are reconciled to the fact that Greece is headed for some sort of cliff, but most feel it’s far enough out in the future that it’s an overhang,” he added.Greece’s president said the country would hold new elections as party leaders failed to reach agreement, with the upcoming balloting seen as a referendum on whether to remain in the euro.U.S. economic reports had retail sales up 0.1% in April, while consumer prices held flat. The Federal Reserve Bank of New York’s gauge of manufacturing activity in the region rebounded in May, while an index of home-builder sentiment rose to a post-recession high. Also, the Commerce Department reported business inventories rose 0.3% in March.

Wednesday's Dow News followed by Tuesday's Dow Closing Numbers:

AT&T:    WSJ pB4 "sprint defends iPhone deal o shareholders" by Greg Bensinge says Sprint activated 3.3 mil  ihones the  past 2 quarters vs 11.9 mil at AT&T & 7.5 mil at Verizon Wireless.
Alcoa:

American Express:  No mentions found.

Bank of America: 
No mentions found.

Boeing:
No mentions found.

Caterpillar:
No mentions found.

Chevron:
No mentions found.

Cisco:
No mentions found.

Coke:  NYT pB1 Sippling less sugar" by Stephanie Strom says Coke and Pepsi says carbonaed soft drinks will grow but not as fast as in the past.  They have spent the last 20 years decreasing their reliance on carbonated soft drinks.

WSJ pB1 "Activit moves into PepsiCo" by Gina Chon says Relational Investors is targeting Pepsi CEO Nooyi in another challenge following her loss of market share to Coke.

Disney:  WSJ pA17, NY Section Arts "Fighting to rescue the lost Avenger" by Bruce Bennett tells the history of some of Disney's characters.

WSJ pB10 "In ABC lineup, drama buildgs" by John Jannarone says ABC unveiled a drama heavy crop of 10 new shows.

DuPont:
No mentions found.

Exxon:
No mentions found.

GE:
No mentions found.

Hewlett-Packard:
No mentions found.

Home Depot:  WSJ pB10 "Home Depot gets a weather boost" by John Kell says Home Depot raised is fiscal year argets of $2.90 a share from Feb's view of $2.79.  For the qtr ended 4/29 Home Depot had profit of $1.04 bil or 68 cents a share up from a year ago of $812 mil or 30 cents a share.  Slaes increased 5.9% to $17.81 bil.
WSJ pC4 "Blue chips slide to 4 month low" by Matt Jarzemsky says the Dow fell for the 9th session in 10 as comments from Greek leaders accelerated concerns about the nation's possible exit from the  euro zone & the health of its banks.  Home Depot led clines falling $1.21 after it reported 1Q earnings that topped analyst estimates but missed rev forecasts.
Intel:
No mentions found.

JPMorgan:  Again, the $2 bil trading loss continues to dominate the headlines withWSJ pC1 "hedge or bet? parsing a trade by Katy Burne,NYT pB1 "FBI inquiry adds to JPMorgan's woes" by Jessica Silver-Greenberg, Fin times p1 "DoJ probes JPMOrgan's $2 bn loss" by Tom Braithwaite, USA Todayp1B "JPMorgan CEO tries to put $2B loss in the past" by Matt Krantz among other features, editorials and cartoons, so that I will not list them all as this is the most frenetic media frenzy I've seen since this Blog started, surpassing the coverage of Kraft's bid for Cadbury.

Johnson &  Johnson:
No mentions found.

Kraft:
No mentions found.

McDonald's:
No mentions found.

Merck:
No mentions found.

Microsoft:  WSJ pD1 "Microsoft gives Windows a clean sweep" by Walter Mossberg says MMicrosoft is selling a new PC model that performs better and is called "Signature." 

Pfizer:
No mentions found.

Procter & Gamble:
No mentions found.

3M:
No mentions found.

Travelers:
No mentions found.

United Technologies:
No mentions found.

Verizon:  WSJ pB4 "sprint defends iPhone deal o shareholders" by Greg Bensinge says Sprint activated 3.3 mil  ihones the  past 2 quarters vs 11.9 mil at AT&T & 7.5 mil at Verizon Wireless.

Walmart:
No mentions found.

Tuesday's Dow Closing Numbers:
Symbol Last Sale Change % Change Share Volume Market
TNYSE
AANYSE
AXPNYSE
BACNYSE
BANYSE
CATNYSE
CVXNYSE
CSCONASDAQ-GS
KONYSE
DISNYSE
DDNYSE
XOMNYSE
GENYSE
HPQNYSE
HDNYSE
INTCNASDAQ-GS
IBMNYSE
JPMNYSE
JNJNYSE
KFTNYSE
MCDNYSE
MRKNYSE
MSFTNASDAQ-GS
PFENYSE
PGNYSE
MMMNYSE
TRVNYSE
UTXNYSE
VZDualListed
WMTNYSE
********************************

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 Alex Gorsky (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)

***************************

Here are the Dow Jones Industrial Average 30 as of 5/16/12 ranked in order of market capitalization rounded to the nearest 1/2 billion followed by number of shares outstanding rounded to the nearest 1/2 billion:


1. Exxon Mobil XOM $382.5 [4.5]

2. Microsoft MSFT 253.5 [8.5]

3. IBM 229.5 [1]

4. WalMart WMT 202 [3.5]

5. Chevron CVX 200 [2]

6. AT&T T 195.5 [6]
7. GE 195 [10.5] 

8.Procter & Gamble PG 174.5 [3]
9. Johnson & Johnson JNJ 174.5 [3]

10. Coke KO 173 [2] 

11. Pfizer PFE 167 [7.5]

12.  JPMorgan Chase JPM 138 [4]

13. Intel INTC 134 [5]

14. Verizon VZ 116.5 [3] 

15. Merck MRK 115 [3] 

16. McDonald's MCD 92.5 [1]
17. Cisco CSCO 89 [5.5]
18. Disney DIS 80.5 [2] 

19. Bank of America BAC 78.5 [10.5]
20. Home Depot HD 74 [1.5]
21. United Technologies UTX 69.5 [1]

22. Kraft KFT 69 [2] 

23. American Express AXP 67 [1]

24. Caterpillar CAT 60.5 [.5]

25. 3M MMM 59.5 [.5]

26. Boeing BA 54.5 [1]

27. DuPont DD 47 [1]
28. Hewlett-Packard HPQ 44 [2]

29. Travelers TRV 25 [.5]

30. Alcoa AA 9 [1]


Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 5/16/12:



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



AT&T T: 5/4/12 10Q for Qtr ended 3/31

5/2/12 8K re: Results of Annual Stockholders Meeting

4/24/12 2 8Ks re: 1 Qtr results

3/12/12 Proxy Materials re: Annual Meeting of Stockholders to be held on 4/27/12 at 9 a.m. at Grand American Hotel, Salt lake City, Utah

Alcoa AA:  5/10/12 8K re: Results of Annual Shareholders Meeting

5/8/12 8K re: Sustainability Highlights Report

4/16/12 8K re: 1Q Earnings call transcript

4/11/12 8K re: 1Q results

3/12/12 & 3/1/12 Proxy re: Annual Meeting of Shareholders 5/4/12 9:30 am, Fairmont Hotel, Pittsburgh, PA


American Express AXP:  5/15/12 8K re: delinquency & write-off stats thru 4/30

5/3/12 8K re: Annual Meeting of Shareholders results

5/1/12 10Q for Qtr ended 3/31

4/18/12 8K re: 1 Qtr results

4/16/12 8K re: delinq. & write-off stats thru 3/31

3/26/12 8K re: dividend of 20 cents a share payable 5/10 to holders at 4/5 & stock buyback plan of up to 150 mil shares

3/20 & 3/2/12 Proxy re: Annual Meeting of Shareholders 4/30/12 9 am American Express HQ, NYC

3/15/12 8K re: delinq. & write-off stats thru 2/29

3/13/12 8K re: Comprehensive Capital Plan




Bank of Am BAC:  5/9/12 8K re:  results of Annual Shareholders meeting

5/4/12 8K re: change of presentation of fin'l info

5/3/12 10Q for Qtr ended 3/31

4/23/12 Proxy material for 5/9 Annual Meeting

4/19/12 8K 1Q results

4/11/12 8K re: reclassification of business segments

3/16/12 8K re: sale of preferred stock




Boeing BA:  5/3/12 8K re: amendment to bylaws reducing number of directors from 12 to 11

4/25/12 10Q for quarter ended 3/31

4/25/12 8K re: 1 Qtr results

3/16/12 Proxy materials re: Annual Meeting of Shareholders 4/30/12 10 am Field Museum, Chicago




Caterpillar CAT:  5/7/12 10Q for 1 Qtr ended 3/31

4/25 8K re: 3/12 dealer stats

4/25/12 8K re: 1 Qtr results

4/23/12 Proxy re: 6/13/12 Annual Stockholders Meeting at San Antonio, Tx

4/12/12 8K re: election of fromer Utah Gov. and Ambassador Jon Huntsman to Board of Dirs.

4/11/12 Proxy materials re: Annual Meeting of Stockholders on 6/13/12 at 8 am, Marriott Riverwalk, San Antonio, Texas

3/20/12 8K re: dealer stats thru 2/12




Chevron CVX:  5/3/12 10Q for quarter ended 3/31

5/3/12 Proxy material re: voting recommendations

4/27/12 8K re: 1 Qtr results

4/12/12 & 3/29/12 Proxy material re: Annual Meeting og stockholders on 4/4/12 9:30 am HQ, San Ramon, CA

4/10/12 8K re: 1Q update

3/29/12 8K & Proxy materials re: amendment of bylaws re: litigation in Delaware courts, raise of CEO and other execs' salaries and election of Charles "Wick" Moorman to Board of Dirs.



Cisco CSCO :  5/9/12 8K re: 3 Qtr results

3/27/12 8K re: execs' pre-arranged stock trading plans

3/15/12 8K re: acquisition of NDS Group Ltd, a provider of video software for $5 bil




Coke KO:  5/15/12 Proxy re: special meeting of stockholders to approve stock split to be held at Atlanta on 7/10/12 to get invited email: shareownerservices@na.ko.com by 5/21

3/14/12 8K re: closing of sale of over $1 bil of notes

3/8/12 Proxy materials re Annual meeting of shareowners 4/15/12 9:30 am Cobb Galeria, Atlanta



Disney DIS:  5/8/12 10Q for quarter ended 3/31

5/8/12 8K re: 1 Qtr results

3/16/12 8K re: amendment to 2011 Stock Incentive Plan




DuPont DD: 5/1/12 8K re: Annual meeting of stockholders results

4/24/12 10Q re: quarter ended 3/31

4/19/12 8K re: 1 Qtr results

4/17/12 Proxy re: voting recommendations

4/3/12 & 3/16/12 Proxy material re: Annual meeting of stockholders 4/25/12 10:30 am HQ Wilmington, Del

3/15/12 8K re: retirement of William K. Reilly from Board of Dirs.




ExxonMobil XOM: 5/11/12 proxy re: voting recommendations

5/3/12 10Q ended 3/31

4/26/12 8K re: 1 Qtr results

4/12/12 Proxy materials re: Annual meeting of shareholders 5/30/12 9 am Meyerson Center, Dallas

3/28/12 8K re: Fin'l Operations review info on website

3/14/12 8K re: transcript of 3/8 analysts meeting




GE: 5/16/12 8K re: dividend of $475 mil & increase of stock buyback program

5/9/12 10Q/A & 5/4/12 10Q for Qtr ended 3/31

4/30/12 8K amending emmployee incentive plan

4/20/12 8K re: 1 Qtr results


4/9/12 & 3/9/12 Proxy material re: Annual meeting of shareholders on 4/25/12 10 am Detroit Marriott

4/6/12 8K re: downgrade of GE senior unsecured debt rating by Moodys from Aa2 to aa3 and other downgrade

3/16/12 8K re: GE Capital segment fin'l info as of 12/31/11




Hewlett-Packard HPQ: 3/23/12 8K re: exec changes and amendment to bylaws decreasing Board of Dirs from 14 to 11

3/12/12 10Q for Qtr ended 1/31/12

3/12/12 8K re: underwriting of $2 bil of Global Notes




Home Depot HD: 5/15/12 8K re: 1 Qtr results

4/2/12 Proxy material and 10K for year ended 1/29/12 and material re: Annual meeting of shareholders on 5/17 at 9 am at Cobb Galeria, Atlanta



Intel INTC:  5/11/12 8K re: Reg FD disclosure of webcast

5/7/12 8K re: 90 cents a share dividend

5/4/12 10Q for quarter ended 3/31

4/18/12 & 4/17/12 8Ks re: 1 Qtr results

4/4/12 Proxy material re: annual stockhodles meeting 5/17/12 8:30 am HQ, Santa Clara, CA

2/28/12 8K re: expansion of JV with Micron Tech for flash memory




IBM:  5/10/12 8K re: underwriting of notes

5/9/12 8K re: investor briefing materials

4/26/12 8K re: Annual stockholders meeting results

4/24/12 10Q re: Qtr ended 3/31

4/18/12 8K re: sale of IBM's Retail Store Solutions Business to Toshiba TEC

4/18/12 & 4/17/12 8Ks re: 1 Qtr results

3/22/12 & 3/12/12 Proxy material re: Annual meeting of stockholders on 4/24/12 10 am Charleston Convention Center, S.C.





JPMorganChase JPM:  5/15/12 8K re: retirement of Chief Inv. Office Ina Drew succeeded by Matthew E. Zames

5/10/12 10Q re: qtr ende 3/31

4/13/12 2 8Ks re: fin'l info on website & 1Q results

4/4/12 Proxy material re: annual meeting of shareholders 5/15/12 at JPM campus in Tampa, Fl

4/4/12 8K re: annual report on website

3/29/12 8K re: Reg. statement re: Global Med. Term Notes'

3/27/12 8K re: changes to Board of Dirs: election of Tim Flynn and retirement of William Gray & David Novak

3/14/12 8K re: dividend of 30 cents payable 4/30 to record holders as of 4/5 and $15 bil share buyback program

3/1/12 8K re: 2/28/12 Investor Day Presentation




Johnson & Johnson JNJ :  5/8/12 8K re: sale of DePuy Orthopaedics to Biomet

5/7/12 10Q re: qtr ended 4/1

4/27/12 8K re: results of annual  meeting of stockholders

4/20/12 add'l proxy material
4/19/12 8K re: amendment to bylaws splitting the offices of Chairman & CEO

4/17/12 8K re: 1 Qtr results

4/9/12 8K re: resignation of Vice Chair of Board, Sheri S. McCoy to join Avon as CEO

4/3/12 & 3/14/12 Proxy material re: Annual meeting of Shareholders on 4/26/12 10 am Grand Hyatt New Brunswick, NJ

3/28/12 8K re: new format for sales results





Kraft KFT:  5/14/12 proxy material re Annual meeting

5/4/12 10Q for qtr ended 3/31

5/3/12 8K re: 1 Qtr results

4/2/12 & 3/23/12 Proxy material re: Annual meeting of shareholders on 5/23/12 at North Shore Performing Arts Center in Skokie, Ill.

3/20/12 8K re: $2.1 bil of costs and expenses re: spin-off of N. Amer. grocery business

3/15/12 8K re: nominations of Terry Lundgren & Jorge Mesquita to Board of Dirs.

3/14/12 8K re: revolving credit agreement




McDonald's MCD:  5/8/12 8K re: April  sales

5/8/12 10Q for quarter ended 3/31

4/20/12 8K re: 1 Qtr results

4/16/12 8K re: election of Tim Fenton as COO

4/13/12 & 3/7/12 Proxy materials re: annual meeting of shareholders on 5/24/12 at HQ at Oak Brook, Ill.

3/26/12 8K re: retirement of James Skinner as CEO effective 6/30/12 and his replacement as CEO of Donald Thompson

3/8/12 8K re: Feb. '12 sales results

3/7/12 Prelim Proxy re: Annual Meeting of Shareholders 5/24/12 at McDonald's HQ Oak Brook, Ill.




Merck MRK:  4/27/12 10Q re Qr ended 3/31

4/27/12 8K re: 1 Qtr results

4/12/12 Proxy materials re: annual meeting of Shareholders on 5/22/12 8:30 am at Bridgewater Marriott in NJ

3/30/12 8K re: Retirement from Board of Dirs of Steven Goldstone & Harry Jacobson




Microsoft MSFT:  5/3/12 8K re: election of Steve Luczo to Board, he is CEO of Seagate Tech

4/19/12 10Q for  qtr ended 3/31

4/19/12 8K re 1 Qtr results



Pfizer PFE:  5/10/12 10Q for quarter ended 4/1

5/1/12 8K re: 1 qtr results

4/27/12 8K re: results of annual meeting of shareholders

4/23/12 8K re: ale of Nutrition business to Nestle for $11.85 bil

44/16/12 add't'l proxy material

3/15/12 Proxy materials re: Annual meeting of shareholders 4/26/12 8:30 am Westin Governor Morris, Morristown, NJ




Procter & Gamble PG:  5/4/12 8K e: resentation of info re: Snack Business as a discontinued operation

4/27/12 10Q for qtr ended 3/31

4/27/12 2 8Ks re: 3 qtr results

4/13/12 8K re: dividend of 0.562 cents payable 5/15/12 to record holders at 4/27




3M MMM:  5/10/12 & 5/412 8Ks re: adoption of exec pre-arranged stock trading plans

5/9/12 2 8Ks re: approval of amendments to employee stock purchase plan

5/3/12 10Q for quarter ended 3/31

4/24/12 8K re: 1 qtr results

4/17/12 8K re: duties of Lead Inependent Director


3/21/12 Proxy materials re: annual meeting of stockhodlers 5/8/12 10 am River Centre, St. Paul, Minn




Travelers TRV:  4/19/12 10Q for quarter ended 3/31

4/19/12 8K re: results of quarter ended 3/31

4/10/12 Proxy materials re: Annual meeting of shareholders on 5/23/12 11 am Hartford, Marriott


United Technologies UTX:  4/30/12 10Q for quarter ended 3/31

4/24/12 8K re: 1 qtr results

4/13/12 8K re: retriement of charles Lee from Board of Dirs.

3/22/12 & 2/24/12 Proxy materials re: 4/11/12 Annual Meeting of Shareholders Riviera Theatre Charleston, SC

3/15/12 8K re: structure for proposed Goodrich acquisition




Verizon Communications Inc. VZ:  5/9/12 8K re: results of annual shareholders meeting

4/26/12 10Q for quarter ended 3/31

4/19/12 8K re: 1 qtr results

4/2/12 & 3/19/12 Proxy material re: Annual meeting of shareholders on 5/3/12 at 10:30 at Von Braun Center, Huntsville, Al.




WalMart WMT:  4/16/12 proxy material re: Annual Meeting of Shareholders to be held 6/1 at 7 am at U. of Arkansas in Fayetteville, Ark.

3/27/12 10K for year ended 1/31/12  END

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