Tuesday, August 7, 2012

8/7/12 Tues. am J&J & Pfizer's Alzheimer's Drug Fails


Post No. 1,764 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 recent Dow 30 components' SEC filings.


A read of the print editions of Tuesday's  Wall St. Journal, Financial Times, Investor's Business Daily, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by a separate table of Dow component's symbol and Monday's stock prices and related data in alphabetical order.

Dow Jones AverageThe Dow Jones Industrial Average closed Monday at 13,117.51 up 21.34 or 0.16% from Friday's close of 13,096.17. For the year the Dow is up 7.37%. Of the 30 Dow components 19 gained and   11  declined. The biggest gainer dollar-wise was   Caterpillar up $1.24 and percentage-wise was Bank of America up 3.1%. The  biggest decliner dollar-wise and percentage-wise was American Express down 49 cents or 0.85%.

WSJ pC4 "Stocks notch a gain of 21.34" by Chris Dieterich says stocks advanced to new 3 month highs as worries re: Europe's debt crisis ebbed & borrowing costs fell in Spain & Italy.

NYT pB2 "Shares rise as Turmoil takes the day off" and same article at USA Today p4B "Stocks enjoy modest gains as Europe debt worries subside" by AP says stocks edged higher Mon on a day marked by quiet following a turbulent week.  In the absence of major economic news stocks rode a railwind of optimism from the most recent US job numbers from last week and hope for more action by European atuhorities to address their debt crisis.

Fin Times p22 "Buest Buy leaps as founder offers to take it private" by Ajay Makan says the S&P climbed 0.2% testing the 1,400 level for the first time since May.  Materials which were negatively impacted by the sluggish dlobal demand moved up as DuPont gained 1.4% and Alcoa was up 1.6%.

IBD pB2 "Stocks rally to best levels since early May; trade falls" by Vincent Mao says stocks closed off their best levels of the day but still logged a 2nd straight gain Mon as stocks were up in lower   trade and the current outlook is still a confirmed uptrend.

As of the open of the market on Tuesday the current divisor for the Dow Jones Industrial Average found at page C5 of Tuesday's Wall St. Journal is 0.132129493. Tuesday's trailing P/E ratio is 14.42 up from yesterday's trailing P/E ratio of 14.28 (year ago it was 12.10); today's P/E estimate is 12.55 unchanged from Monday's P/E estimate of 12.55 (year ago it was 11.48) and today's dividend yield is 2.58 unchanged from yesterday's dividend yield of 2.58 (last year it was 2.81). 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 1,733.21 up 2.82 from Friday's closing numerator of 1,730.39. 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 increase for today by the divisor (0.132129493) you get the increase 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 $57.77 up 9 cents from Friday's average closing price of $57.68. The median closing price of Monday's Dow Jones Industrial Average was $51.07 (HD/DD) up 3 cents from Friday's median closing price of $51.04     (HD/DIS. The lowest volume was Travelers 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 made $282 ($173,321 - $173,039).

MarketWatch.com Mon. 4:12 pm by Laura Mandaro says U.S. stocksextended gains into a second session Monday but closed well off their intraday highs, as a light news flow kept many investors to the sidelines. The Dow Jones Industrial Average DJIA +0.16% ended up 21.34 points, or 0.2%, to 13,117.51, led by Bank of America Corp. BAC +2.83% and dragged by American Express Co. AXP -0.89% . At its intraday high, the Dow was up 91 points. The S&P 500 SPX +0.23% rose 3.24 points, or 0.2%, to 1,394.23. The Nasdaq Composite COMP +0.74% rose 22.01 points, or 0.7%, to 2,989.91. Just over 3 billion New York Stock Exchange-listed shares traded hands, or about 85% of the past month's average.

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

AT&T:  No mentions found.

Alcoa:  No mentions found.

American Express:  No mentions found.

Bank of America:  No mentions found.

Boeing:  Fin Times p7 "A dogfight for the duopoly" by Andrew Parker says Airbus & Boeing are building up big orders of aircraft such as the A320 & 737 to queeze rivals out of the market, but China's Comac could emerge as a genuine threat.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  No mentions found.

Coke:  No mentions found.

Disney:  WSJ pC1 "Zap! Superheroes lean on supporting cast" by Spencer Jakab says Hulk and the other Avengers movie lifted Disney to its highest value in recent history due to its $1.5 bil in ticket sales.  Disney reports its results today.

WSJ pB4 "Credits & debits" by Emily Chasan says Disney named Peter Seymour to the new position of cfo of Disney/ABC TV group.

DuPont:  No mentions found.

Exxon:  No mentions found.

GE:  No mentions found.

Hewlett-Packard:  No mentions found.

Home Depot:  No mentions found.

Intel:  No mentions found.

IBM:  No mentions found.

JPMorgan:  No mentions found.

Johnson & Johnson:  WSJ pB7 "J&J and Pfizer alzheimer's drug fails in late stage trial" by Jon Rockoff says the drug bapineuzumab failed during a 2nd povital clinical trial leading the firms to abandon late stage testing of the therapy as it failed to slow memory loss.  Plans are halted for all other phase 3 studies.

Kraft:  No mentions found.

McDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:  Fin Times p13 "Acer hits out at Microsoft as tablet proves a bitter pill for ex-PC ally" by Robert Budden & "p16 "Acer uneasy inn love-hate Microsoft relationship" by Robert Budden says Acer, the world's 4th largest computer maker has attacked Microsoft's move into tablets, highlighting the rift between the software group and its former PC maker allies.

Pfizer:   WSJ pB7 "J&J and Pfizer alzheimer's drug fails in late stage trial" by Jon Rockoff says the drug bapineuzumab failed during a 2nd povital clinical trial leading the firms to abandon late stage testing of the therapy as it failed to slow memory loss.  Plans are halted for all other phase 3 studies.

Procter & Gamble:  No mentions found.

3M:  No mentions found.

Travelers:

United Technologies:

Verizon:  No mentions found.

Walmart:   No mentions found.

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



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