Monday, July 23, 2012

7/23/12 Mon. pm Dow Closes at 12,721.46 down 101.11 or 0.79%


Post No. 1,740 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 as of July 23, 2012  and Dow 30 components' SEC filings also as of July 23, 2012.


The Dow Jones Industrial Average closed Monday at 12,721.46  down 101.11 or 0.79% from Friday's close of 12,822.57. Of the 30 Dow components 8  gained and 22    declined. The biggest gainer dollar-wise was Caterpillar up 78 cents and percentage-wise was  JPMorgan Chase up 1.65%. The biggest decliner dollar-wise was  McDonald's down $2.54 and percentage-wise was McDonald's and Microsoft both down 2.77%.


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 14.31 down from Saturday's trailing P/E ratio of 14.19 (year ago it was 14.69); Monday's P/E estimate is 12.35 up from Saturday's P/E estimate of 12.23 (year ago it was 12.60) and Monday's dividend yield is 2.65 up from Saturday's dividend yield of 2.60 (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 1,680.88 down 13.36 from Friday's closing numerator of 1,694.24. 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 $56.03 down 0.44 from Friday's average closing price of $56.47. The median closing price of Monday's Dow Jones Industrial Average was $49.94     (HD/DD) down    $0.14 from Friday's median closing price of $50.08 (HD/DD. The lowest volume was 3M and the highest volume again was Bank of America.

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 $1,336    ($169,424 - $168,088).

MarketWatch Mon. 3:46 MarketWatch.com by Wallace Wittkowski & Laura Mandaro say  US stocks
pared triple-digit losses after stumbling Monday as worries about Europe’s fiscal health flared back up, pushing U.S. Treasury yields to new lows and boosting the dollar. Falling hard on the Dow Jones Industrial Average were shares of McDonald’s Corp. MCD -2.88% and Microsoft Corp.MSFT -2.77% , as well as Kraft Foods Inc. KFT -2.39% The Iberian nation continued to cast a long shadow over financial markets amid a fresh selloff in Spanish bonds. The blue-chip indexDJIA -0.79% pared earlier losses — bouncing off an intraday low of 12,583.41 — but was still down 86 points, or 0.7%, at 12,737, extending a triple-point slide from Friday, with 24 out of 30 components trading lower. McDonald’s shares, which were down 2.6% in recent activity, faced headwinds in particular after the fast-food giant’s second-quarter earnings fell short of Wall Street estimates. The company said a stronger dollar dented margins in international markets that already are seeing slowing economic growth. But what really weighed on the broader market was the prospect that Spain, Europe’s fourth-largest economy, might require a sovereign bailout, after another region in the country said it would need financial aid. According to news outlet La OpiniĆ³n de Murcia, the Spanish region of Murcia announced it could apply for government bailout funds in September. That comes on the heels of reports on Friday that Spain’s Valencia region was seeking help. “U.S. markets are attempting to price in significant policy errors in Europe,” said Stephen Wood, chief market strategist at Russell Investments. Regional governments looking for a handout are just confirming fears that Spain’s problems are also fiscal and not confined to the banking sector, he added. U.S. markets are also contending with an earnings season where more than 40% of companies have missed Wall Street revenue estimates so far, and trying to figure out how that will play out in a decelerating economy, according to Wood. Earlier in the day, the yield on Spain’s 10-year bondES:10YR_ESP -0.0009% roared past 7.5% on Monday as government debt extended a selloff from Friday. That yield is a “canary in a coal mine” for Spain, said Mark Luschini, chief investment strategist at Janney Montgomery Scott. “They were once facing a banking problem. Now they’re facing a solvency problem. The market wasn’t prepared for that.” Also, Spanish and Italian regulators imposed a short-selling ban on Monday. The S&P 500 Index SPX -0.89% was down 10.8 points, or 0.8%, at 1,352. All 10 sectors were lower, led by a drop in materials and energy stocks. The Nasdaq Composite Index COMP -1.20% fell 30 points, or 1%, at 2,895. Decliners outnumbered advancers by about three to one on the NYSE and about seven to two on the Nasdaq. Composite volume for NYSE-listed stocks topped 3 billion shares and Nasdaq-listed shares exceeded 1.31 billion shares. But it wasn’t just Spain stirring the pot in Europe. On Sunday, a report in Germany’s Der Spiegel, citing unnamed European officials, said the International Monetary Fund is set to stop aid payments to Greece. The international groups overseeing Greece’s aid package are due to send inspectors to Athens this week to gauge the country’s progress in honoring requirements under the program.  Europe’s Stoxx 600 /XX:SXXP -2.49% fell 2.5% to close at 251.75. After piling into U.S. stocks early last week on earnings enthusiasm, investors started to sell on Friday, in part due to some disappointment over tepid revenue growth and as Spain’s fiscal situation looked tenuous. Mounting concerns over Europe sent the euro EURUSD +0.1405% to a two-year low versus the dollar. The euro recently traded at $1.2131. It also traded at a near-record low versus the yen EURJPY +0.0551% at ¥95.13. Treasurys jumped, sending yields on 10-year 10_YEAR -1.37% notes to a new record low, and were recently down 2 basis points at 1.44%. September oil futures CLU2 -3.94% lost 4% to settle at $88.14 a barrel, while gold for August delivery GCQ2 -0.40% settled down 0.3% at $1,577.40 an ounce.

Monday's Closing Dow Numbers:

SymbolLast SaleChange% ChangeShare VolumeMarket
TNYSE
AANYSE
AXPNYSE
BACNYSE
BANYSE
CATNYSE
CVXNYSE
CSCONASDAQ-GS
KONYSE
DISNYSE
DDNYSE
XOMNYSE
GENYSE
HPQNYSE
HDNYSE
INTCNASDAQ-GS
IBMNYSE
JPMNYSE
JNJNYSE
KFTNASDAQ-GS
MCDNYSE
MRKNYSE
MSFTNASDAQ-GS
PFENYSE
PGNYSE
MMMNYSE
TRVNYSE
UTXNYSE
VZDualListed
WMTNYSE


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

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 a separate table of Dow component's symbol and Friday's stock prices and related data in alphabetical order.

Dow Jones Average:  The Dow Jones Industrial Average closed Friday at 12,822.57 down 120.79 or 0.93% from Thursday's close of 12,943.36. For the week the Dow is up 45.48 or 0.36% from last Friday's close of 12,777.09. For the year the Dow is up 4.95%. Of the 30 Dow components 3 gained and 27 declined. The biggest gainer dollar-wise and percentage-wise was Walmart up 78 cents or 1.09 %. The biggest decliner dollar-wise was IBM down $2.99 and percentage-wise was Bank of America down 2.48%.

Inv. Bus. Daily pB6 "Stocks stumble, bringing pressur back on uptrend" by Paul Whitfield says stocks stumbled out of the gate Fri & never mounted a voncincing reboud attempt.  

Sat. WSJ pB4 "For Dow, 4 out of 5 isn't bad" by Chris Dieterich says Spain's debt worries shook markets & tripped stocks for the 1st time in 4 sessions, as the fin'l sector helped drive the Dow's first triple digit decline in 2 weeks.  Bank of america fell 19 cents and was the biggest decliner in the Dow.  Corp earnings propelled a few blue chips higher.  GE was up 7 cents after the bellwether conglomerate's earnings came in slightly better than estimates, though rev missed.  Microsoft fell 55 cents after posting its first quarterly loss in decades.  Intel was up 1.1% as its 2Q profits beat estimates.  IBM gains alone added 48.74 points to the Dow.

Sat NYT pB6  Bailout worries in Spain push markets lower" by Reuters says stocks fell on Fri as Europe's debt crisis flared up again on fears that Spain may eventually need a bailout, prompting traders to cash in 3 days of gain.



Friday's Dow Jones Industrial Average closing numerator was 1,694.24 down 15.96 from Thursday's closing numerator of 1,710.20. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $56.47 down 0.54 from Thursday's average closing price of $57.01. The median closing price of Friday's Dow Jones Industrial Average was $49.79 (HD/DD) down $0.29 from Thursday's median closing price of $50.08 (HD/DD. The lowest volume was Travelers and the highest volume again was Bank of America.

If Friday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,596 ($171,020 - $169,424).

MarketWatch Fri. 4:16 MarketWatch.com by Wallace Wittkowski: US stocks fell Friday for the first down day in four, erasing July gains for both the Dow Jones Industrial Average DJIA-0.93% and the Nasdaq Composite Index COMP-1.37% as earnings reports and Europe concerns triggered a selloff. The Dow fell 120.79 points, or 0.9%, to close at 12,822.57, putting the index down nearly 0.5% for July. The Nasdaq dropped 40.60 points, or 1.4%, and closed at its intraday low of 2,925.30, for a 0.3% loss for the month of July. The S&P 500 Index SPX-1.01% closed down 13.85 points, or 1%, at 1,362.66, and barely hung onto a gain of less than 0.1% for the month of July. For the week, the Dow closed up 0.4%, the S&P 500 rose 0.4%, and the Nasdaq advanced 0.6%.

Monday's Dow News followed by Friday's Closing Dow numbers:

AT&T:  Mon. NYT pB3 "Two units of AT&T reach pacts with union" by Steven Greenhouse says AT&T reached tentative 3 year contracts with a union representing more than 13,000 workers in its Midwest div & an add'l 5,700 workers at a unit specializing in major corporate accounts.  The union is the Comm. Workers of America.

WSJ pC8 "Sprint struggling to keep up the pace in spectrum marathon" by Miriam Gottfried says as Verizon & AT&T race to build the next generation networks before the expected launch of a 4G LTE iPhone 5 this fall,  number three carrier Sprint looks short of enough unused spectrum for a high quality network.

Barron's p13  "Preview"  says on Monday McDonald's posts quarterly results with analysts' expectations of earnings to be up 2% to $1.38 a share.  On Tues AT&T reports results, on Wednesday Boeing reports results, on Thursday ExxonMobil reports earnings, and on Friday Chevron and Merck report results.

Barron's p18 "AT&t: a better bet than Verizon" by Teresa Rivas say AT&T not only has  a big dividend but should see earnings grow and would be a good defensive dividend play.  AT&T has a higher yield of 5% and a comparable long term earnings growth rate as compared to Verizon communications but is cheaper on a pe basis.

Alcoa:  No mentions found.

American Express:  No mentions found.

Bank of America:   Barron's p12 "Week review" says JPMorgan's CEO Jamie Dimon bought $17.1 mil of JPM stock to boost investor confidence.  Bank of America, and 4 other large banks announced plans to cut add'l workers to cut costs.

WSJ pB4 "For Dow, 4 out of 5 isn't bad" by Chris Dieterich says Spains' debt worries shook markets & tripped stocks for the 1st time in 4 sessions, as the fin'l sector helped drive the Dow's first triple digit decline in 2 weeks.  Bank of america fell 19 cents and was the biggest decliner in the Dow.  Corp earnings propelled a few blue chips higher.  GE was up 7 cents after the bellwether conglomerate's earnings came in slightly better than estimates, though rev missed.  Microsoft fell 55 cents after posting its first quarterly loss in decades.  Intel was up 1.1% as its 2Q profits beat estimates.  IBM gains alone added 48.74 points to the Dow.

Boeing:   WSJ pC2 "The Ticker", WSJ pC1 "McDonald's still appears to be golden" by Spencer Jakab say McDonald's reports 2Q results today & analysts expect only a modest rise in eps to $1.37 from $1.35 a year ago.  Tues:  AT&T .63/.60; Wed: Boeing $1.12/$1.25 & Catepillar 2.28/1.72 on Thurs Exxon 1.97/2.18 & 3M 1.65/1.60 & on Friday Chevron 3.20/3.85 & Merck expected $1.01 vs. a year ago .95 cents.

Barron's p13  "Preview"  says on Monday McDonald's posts quarterly results with analysts' expectations of earnings to be up 2% to $1.38 a share.  On Tues AT&T reports results, on Wednesday Boeing reports results, on Thursday ExxonMobil reports earnings, and on Friday Chevron and Merck report results.

Caterpillar:   WSJ pC2 "The Ticker", WSJ pC1 "McDonald's still appears to be golden" by Spencer Jakab say McDonald's reports 2Q results today & analysts expect only a modest rise in eps to $1.37 from $1.35 a year ago.  Tues:  AT&T .63/.60; Wed: Boeing $1.12/$1.25 & Catepillar 2.28/1.72 on Thurs Exxon 1.97/2.18 & 3M 1.65/1.60 & on Friday Chevron 3.20/3.85 & Merck expected $1.01 vs. a year ago .95 cents.

Chevron:   WSJ pC2 "The Ticker", WSJ pC1 "McDonald's still appears to be golden" by Spencer Jakab say McDonald's reports 2Q results today & analysts expect only a modest rise in eps to $1.37 from $1.35 a year ago.  Tues:  AT&T .63/.60; Wed: Boeing $1.12/$1.25 & Catepillar 2.28/1.72 on Thurs Exxon 1.97/2.18 & 3M 1.65/1.60 & on Friday Chevron 3.20/3.85 & Merck expected $1.01 vs. a year ago .95 cents.

Barron's p13  "Preview"  says on Monday McDonald's posts quarterly results with analysts' expectations of earnings to be up 2% to $1.38 a share.  On Tues AT&T reports results, on Wednesday Boeing reports results, on Thursday ExxonMobil reports earnings, and on Friday Chevron and Merck report results.

Cisco:  No mentions found.

Coke:  Barron's p19 "Drink up" by Robin Goldwyn Blumental says fresh juice is becoming big business. Coke has Odwlla brand of super premium juices and Pepsi has Naked juices.

Barron's p13 "the skinny on sponsors" says the pres. of the Int'l Olympics Committee suggested that Coke and McDonald's may be inappropriate sponsors.

Disney:  No mentions found.

DuPont:  No mentions found.

Exxon:   USA Today p4B "A compelling look deep into Exxon's world" by Steve Weinberg says Steve Coll has written ane xcellent 700 page book about Exxon, "Private Empire ExxonMobil and American Power."

WSJ pC2 "The Ticker", WSJ pC1 "McDonald's still appears to be golden" by Spencer Jakab say McDonald's reports 2Q results today & analysts expect only a modest rise in eps to $1.37 from $1.35 a year ago.  Tues:  AT&T .63/.60; Wed: Boeing $1.12/$1.25 & Catepillar 2.28/1.72 on Thurs Exxon 1.97/2.18 & 3M 1.65/1.60 & on Friday Chevron 3.20/3.85 & Merck expected $1.01 vs. a year ago .95 cents.

 Barron's p13  "Preview"  says on Monday McDonald's posts quarterly results with analysts' expectations of earnings to be up 2% to $1.38 a share.  On Tues AT&T reports results, on Wednesday Boeing reports results, on Thursday ExxonMobil reports earnings, and on Friday Chevron and Merck report results.

GE: WSJ pB3 "GE shaek up will audition leaders" by Kate Linebaugh, NYT pB6 "GE profit surpasses expectations" by Reuters, Inv. Bus. Daily pA1 "GE's profit best in 4 quarters"  say GE will break its giant energy biz into 3 units creating new proving grounds for a generation of execs who could succeed CEO Jeff Immelt.    GE reported 2Q profit slipped 18% to $3.11 bil, compared with a year earlier profit of $3.76 bil.  Rev climbed to $36.5 bil. 

WSJ pB4 "For Dow, 4 out of 5 isn't bad" by Chris Dieterich says Spains' debt worries shook markets & tripped stocks for the 1st time in 4 sessions, as the fin'l sector helped drive the Dow's first triple digit decline in 2 weeks.  Bank of america fell 19 cents and was the biggest decliner in the Dow.  Corp earnings propelled a few blue chips higher.  GE was up 7 cents after the bellwether conglomerate's earnings came in slightly better than estimates, though rev missed.  Microsoft fell 55 cents after posting its first quarterly loss in decades.  Intel was up 1.1% as its 2Q profits beat estimates.  IBM gains alone added 48.74 points to the Dow.

Barron's pM2 GE is charted saying despite a 17% quarterly profit drop GE kept to its '12 outlook for double digit earnings growth.

Barron's pM3 "Stocks gaing round despite Fri's rout" by Vito Racanelli says the release of good earnigns reports from IBM, GE, and Google helped put a healthy bid on stocks through the middle of the week and big stocks outperformed small caps.

Hewlett-Packard:  No mentions found.

Home Depot:  No mentions found.

Intel:   Barron's p22 "As Windows 8 looms, bech investors hold their breath" by Tiernana Ray Microsfot and Intel both reported humdrum quarterly earnings.  Both Intel and Micrsofot look to Windows 8 for the respective fortunes.  Microsoft is a value at $30 trading at 10 times next year's proejcted eps.  Yet the outlook for PC sales and for Windows is clouded by the advance of smartphones and tablets.

WSJ pB4 "For Dow, 4 out of 5 isn't bad" by Chris Dieterich says Spains' debt worries shook markets & tripped stocks for the 1st time in 4 sessions, as the fin'l sector helped drive the Dow's first triple digit decline in 2 weeks.  Bank of america fell 19 cents and was the biggest decliner in the Dow.  Corp earnings propelled a few blue chips higher.  GE was up 7 cents after the bellwether conglomerate's earnings came in slightly better than estimates, though rev missed.  Microsoft fell 55 cents after posting its first quarterly loss in decades.  Intel was up 1.1% as its 2Q profits beat estimates.  IBM gains alone added 48.74 points to the Dow.

IBM: WSJ pB4 "For Dow, 4 out of 5 isn't bad" by Chris Dieterich says Spains' debt worries shook markets & tripped stocks for the 1st time in 4 sessions, as the fin'l sector helped drive the Dow's first triple digit decline in 2 weeks.  Bank of america fell 19 cents and was the biggest decliner in the Dow.  Corp earnings propelled a few blue chips higher.  GE was up 7 cents after the bellwether conglomerate's earnings came in slightly better than estimates, though rev missed.  Microsoft fell 55 cents after posting its first quarterly loss in decades.  Intel was up 1.1% as its 2Q profits beat estimates.  IBM gains alone added 48.74 points to the Dow.

 Barron's pM3 "Stocks gaing round despite Fri's rout" by Vito Racanelli says the release of good earnigns reports from IBM, GE, and Google helped put a healthy bid on stocks through the middle of the week and big stocks outperformed small caps.

JPMorgan:  Barron's p12 "Week review" says JPMorgan's CEO Jamie Dimon bought $17.1 mil of JPM stock to boost investor confidence.  Bank of America, and 4 other large banks announced plans to cut add'l workers to cut costs.

Johnson & Johnson:  No mentions found.

Kraft:  No mentions found.

McDonald's:  WSJ pC2 "The Ticker", WSJ pC1 "McDonald's still appears to be golden" by Spencer Jakab say McDonald's reports 2Q results today & analysts expect only a modest rise in eps to $1.37 from $1.35 a year ago.  Tues:  AT&T .63/.60; Wed: Boeing $1.12/$1.25 & Catepillar 2.28/1.72 on Thurs Exxon 1.97/2.18 & 3M 1.65/1.60 & on Friday Chevron 3.20/3.85 & Merck expected $1.01 vs. a year ago .95 cents.

Barron's p13  "Preview"  says on Monday McDonald's posts quarterly results with analysts' expectations of earnings to be up 2% to $1.38 a share.  On Tues AT&T reports results, on Wednesday Boeing reports results, on Thursday ExxonMobil reports earnings, and on Friday Chevron and Merck report results.

  Barron's p13 "the skinny on sponsors" says the pres. of the Int'l Olympics Committee suggested that Coke and McDonald's may be inappropriate sponsors.

Merck: Barron's p13  "Preview"  says on Monday McDonald's posts quarterly results with analysts' expectations of earnings to be up 2% to $1.38 a share.  On Tues AT&T reports results, on Wednesday Boeing reports results, on Thursday ExxonMobil reports earnings, and on Friday Chevron and Merck report results.

   WSJ pC2 "The Ticker", WSJ pC1 "McDonald's still appears to be golden" by Spencer Jakab say McDonald's reports 2Q results today & analysts expect only a modest rise in eps to $1.37 from $1.35 a year ago.  Tues:  AT&T .63/.60; Wed: Boeing $1.12/$1.25 & Catepillar 2.28/1.72 on Thurs Exxon 1.97/2.18 & 3M 1.65/1.60 & on Friday Chevron 3.20/3.85 & Merck expected $1.01 vs. a year ago .95 cents.

Microsoft:  Fin Times p13 "Nokia seeks partners to generate buzz around Windows 8 phone" by Daniel thomas says Nokia is trying to recreate the excitement arond Apple's launch of the iPhone in '07 when Nokia unveils its Windows 8 smartphone in the autumn.

Daily Report p5 "Microsoft Office 2013 boosts e-discovery" by Evan Koblenz says the newest version of the office suit, now available in a public beta test, lets administrators put mailboxes into a legal hold status.

Barron's p22 "As Windows 8 looms, bech investors hold their breath" by Tiernana Ray Microsfot and Intel both reported humdrum quarterly earnings.  Both Intel and Micrsofot look to Windows 8 for the respective fortunes.  Microsoft is a value at $30 trading at 10 times next year's proejcted eps.  Yet the outlook for PC sales and for Windows is clouded by the advance of smartphones and tablets.

Pfizer:  No mentions found.

Procter & Gamble:  No mentions found.

3M:  No mentions found.

Travelers:  No mentions found.

United Technologies:  No mentions found.

Verizon:  WSJ pC8 "Sprint struggling to keep up the pace in spectrum marathon" by Miriam Gottfried says as Verizon & AT&T race to build the next generation networks before the expected launch of a 4G LTE iPhone 5 this fall,  number three carrier Sprint looks short of enough unused spectrum for a high quality network.

Barron's p18 "AT&t: a better bet than Verizon" by Teresa Rivas say AT&T not only has  a big dividend but should see earnings grow and would be a good defensive dividend play.  AT&T has a higher yield of 5% and a comparable long term earnings growth rate as compared to Verizon communications but is cheaper on a pe basis.

Walmart:  No mentions found.

Friday's Closing Dow numbers:


SymbolLast SaleChange% ChangeShare VolumeMarket
TNYSE
AANYSE
AXPNYSE
BACNYSE
BANYSE
CATNYSE
CVXNYSE
CSCONASDAQ-GS
KONYSE
DISNYSE
DDNYSE
XOMNYSE
GENYSE
HPQNYSE
HDNYSE
INTCNASDAQ-GS
IBMNYSE
JPMNYSE
JNJNYSE
KFTNASDAQ-GS
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 Donald 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 7/23/12 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 $397.5 [4.5]
2. Microsoft MSFT 245.5 [8.5]
3.WalMart WMT 244 [3.5]
4.  IBM 220 [1]
5. Chevron CVX 212.5 [2]
6. GE 212 [10.5]
7. AT&T T 206.5 [6]
8. Johnson & Johnson JNJ 186.5 [3]
9. Pfizer PFE 176.5 [7.5]
10.  Procter & Gamble PG 176 [3]
11.  Coke KO 173 [2.5]
12. Merck MRK 131.5 [3]
13. JPMorgan Chase JPM 130.5 [4]
14. Intel INTC 126.5 [5]
15. Verizon VZ 126 [3]
16. McDonald's MCD 91 [1]
17. Cisco CSCO 86 [5.5]
18. Disney DIS 85.5 [2]
19. Home Depot HD 78 [1.5]
20. Bank of America BAC 76 [10.5]
21. Kraft KFT 69.5 [2]
22. United Technologies UTX 67 [1]
23. American Express AXP 64 [1]
24. 3M MMM 62 [.5]
25. Boeing BA 54.5 [1]
26. Caterpillar CAT 53 [.5]
27. DuPont DD 45.5 [1]
28. Hewlett-Packard HPQ 36 [2]
29. Travelers TRV 24 [.5]
30. Alcoa AA 8.5 [1]

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

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 7/23/12:

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

AT&T T: 6/29/12 8K re: election of Scott F. Ford as Director
6/14/12 8K re: sale of approx. $2 bil of notes
6/7/12 8K re completion of sale of AT&T Advertising Solutions to Cerebrus
5/4/12 10Q for Qtr ended 3/31
5/2/12 8K re: Results of Annual Stockholders Meeting

Alcoa AA: 7/13/12 8K re: Transcript of 2Q earnings call
7/10/12 8K re: 2Q results
5/10/12 8K re: Results of Annual Shareholders Meeting
5/8/12 8K re: Sustainability Highlights Report


American Express AXP: 7/20/12 8K re: election of David L. Vasella (Chairman of Bd. of Novartis) as Director
7/18/12 8K re: 2Q results
7/16/12 8K re: cedt stats through 6/30/12
6/15/12 8K re: delinq. & write-off stats 3/31, 4/30 & 5/31/12
6/13/12 8K re: fin'l presentation of Vice-Chair Edward Gilligan
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


Bank of Am BAC: 7/18/12 8K re: 2Q results
5/25/12 8K re: repurchase of notes
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



Boeing BA: 6/26/12 8K re: selection of Raymond L. Conner to replace Jim Albaugh as Pres/CEO of Boeing Comm'l Airplanes
5/3/12 8K re: amendment to bylaws reducing number of directors from 12 to 114/25/12 10Q for quarter ended 3/31
4/25/12 8K re: 1 Qtr results


Caterpillar CAT: 6/26/12 8K re: safety problems at Wyoming mine
6/25/12 8K re: underwriting agreement re: issuance of $1.5 bil of debt
6/20/12 8K re: 3 month dealer stats thru 5/12
6/18/12 8K re: amended by-laws re: date of annual stockholders meeting
6/14/12 8K re: election of Jon M. Huntsman, Jr. to Bd. of Dirs.
6/13/12 8K re: increase of quarterly div to 52 cents payable 8/20 to 7/20 record holders
5/17/12 8K re: 3 month dealer stats thru 4/12
5/7/12 10Q for 1 Qtr ended 3/31


Chevron CVX: 7/11/12 8K re: guidance for 2Q
6/4/12 8K re: voting results from annual stockholders meeting
5/27/12 proxy re: recommendation to vote against all stockholder proposals
5/3/12 10Q for quarter ended 3/31
5/3/12 Proxy material re: voting recommendations


Cisco CSCO : 6/27/12 8K re; execs' pre-arranged stock trading plan
6/13/12 8K re: director's pre-arranged stock trading plan
5/23/12 10Q for quarter ended 4/28/12
5/9/12 8K re: 3 Qtr results


Coke KO:  7/17/12 8K re; 2Q results
7/10/12 8K re: approval of shareholders for stock split
5/25/12 Proxy material re: 7/10 Special stockholders meeting
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


Disney DIS:6/11/12 8K re: $2.25 bil 5 year credit agreement
5/8/12 10Q for quarter ended 3/31
5/8/12 8K re: 1 Qtr results


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

ExxonMobil XOM: 6/1/12 8K re: voting results from annual shareholders meeting
5/16/12 proxy re: exec compensation
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


GE: 7/20/12 8K re: 2Q results
6/12/12 8K re: election of Manjin Dekkers to Board of Dirs.
5/23/12 10Q/A amend 10Q for quarter ended 3/31/12
5/16/12 8K re: dividend of $475 mil from GECC to GE & increase of stock buyback program
5/9/12 10Q/A & 5/4/12 10Q for Qtr ended 3/31
4/30/12 8K amending employee 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


Hewlett-Packard HPQ: 6/8/12 10Q re: quarter ended 4/30/12
5/23/12 8K re: 2nd Qtr results


Home Depot HD: 5/24/12 10Q for quarter ended 4/29/12
5/22/12 8K re: voting results of 5/17 annual shareholders meeting
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:  7/18/12 2 8Ks re: 2Q results
7/9/12 8K re; purchase of 10% of ASML for $2.1 bil
5/22/12 8K re: voting results of annual stockholders meeting
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



IBM: 7/19/12 & 7/18/12 8Ks re: 2Q results
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



JPMorganChase JPM: 7/13/12 8K re: 2Q results
7/13/12 8K re: restatement of 1Q results
6/13/12 8K re: CEO Jamie Dimon's testimony before US Senate Comm on Banking
6/12/12 8K re: redemption of $9 bil in Trust Preferred Capital Securities
5/18/12 8K re: Annual Meeting of Shareholders' results
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



Johnson & Johnson JNJ : 7/20/12 8K re: settlement of shareholder deriv case in US Dist CT NJ
7/17/12 8K re: 2Q results
6/14/12 8K re: completion of Synthes purchase for $19.7 cash/stock
6/12/12 8K re: repurchase of shares from Goldman Sachs & JPMorgan
6/8/12 8K re: special charge of $600 mil related to legal charges related to Risperdal, Invega & Naterecor
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



Kraft KFT: 7/18/12 & 7/17/12 & 7/2/12 8Ks re: successful exchange of notes
6/18/12 8K re: Exchange Offer
6/8/12 8K re: on 6/26 KFT to trade on NASDAQ not NYSE
5/31/12 8K re: issuance of $6 bil of notes
5/24/12 8K re: amendment of bylaws to do away with share certificates as of 6/15
5/22/12 8K re: 5 year revolving credit contract
5/18/12 8K re: favorable IRS ruling on tax-free nature of spin-off
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.


McDonald's MCD: 7/23/12 8K re; 2Q results
7/20/12 8K re: various amendments to By-laws
6/18/12 8K re: stocks options to Donald Thompson CEO as of 7/1
6/11/12 8K re: May '12 sales
5/29/12 8K re: issuance of approx. $1 bil of notes
5/29/12 8K re: approval of officers' stock plan
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.



Merck MRK: 5/25/12 8K re: voting results of 5/22 Annual meeting of shareholders
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


Microsoft MSFT: 7/19/12 8K re: 4Q & full year results
7/2/12 8K re: write-down to Online Services Div
 6/18/12 8K re: Amendment to By-laws re: timing of Annual Meeting of Shareholders
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: 5/23/12 8K re: exec promotions
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: sale of Nutrition business to Nestle for $11.85 bil



Procter & Gamble PG:  7/18/12 8K re: Board proclaims support for CEO Bob McDonald
7/10/12 8K re: quarterly dividend of 0.562 cents per share
6/20/12 8K re: Deutsche Bank Conference Reg. FD disclosures
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


3M MMM:  6/26/12 8K re: issuance of $1.25 bil of notes
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 Independent Director


Travelers TRV: 7/19/12 10Q & 7/19/12 8K re: results of quarter ender 6/30/12
5/25/12 8K re: voting results of 5/23 Annual Meeting of Shareholders


United Technologies UTX: 6/18/12 8K re: issuance of equity unites
6/1/12 8K re: issuance of $9.8 bil of notes
4/30/12 10Q for quarter ended 3/31
4/24/12 8K re: 1 qtr results
4/13/12 8K re: retirement 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: 7/19/12 Form S-3 re: registration of 29,750,000 shares
7/19/12 & 7/18/12 8Ks re: 2Q results
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: 6/4/12 8K re: voting results of Annual Meeting of Shareholders
6/1/12 10Q for quarter ended 4/30/12
5/17/12 8K re: operating results & guidance
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.  END

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