Tuesday, November 20, 2012

11/20/12 Tues. am Intel CEO Will Retire Early

http://www.dowjonesmonitor.com/

Post No. 1,912 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 11/2/12 and recent Dow 30 components' SEC filings as of 11/2/12.

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 Average:  The Dow Jones Industrial Average closed Monday at 12,795.96 up 207.65 or 1.65% from Friday's close of 12,588.31. For the year the Dow is up 4.73%. Of the Dow components all 30 gained. The biggest gainer dollar-wise was IBM up $3.41 and percentage-wise was 4.06%.

WSJ pC4 "Blue Chips set the table and feast" by Chris Dieterich says the Dow had its best day in more than 2 months as all 30 coponents advanced behind Bank of America and Hewlett-Packard.

NYT pB7 "Strong reports lift Wall St to a 2nd straight rally" by Reuters says stocks rose for a 2nd straight session Mon as investors were encouraged by the early atmosphere surrounding talks toa ddress the nation's fiscal problems.

IBD pB2 "Stocks start short week with big gains; trade falls" by Vincengt Mao says stocks were up sharply Mon in lower trade as the market is still in a correction.


As of the open of the market on Tuesday the current divisor for the Dow Jones Industrial Average found at page C6 of   Tuesday's Wall St. Journal is 0.130216081. Tuesday's trailing P/E ratio is 13.78 up from Monday's trailing P/E ratio of 13.75 (year ago it was 12.40); today's P/E estimate is 11.99 unchanged from Monday's P/E estimate of 11.99   (year ago it was 12.10) and Tuesday's dividend yield is 2.68 down from yesterday's dividend yield of 2.81  (last year it was 2.71). 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 1,666.24 up 27.04 from Friday's closing numerator of 1,639.20. 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 increase for today by the divisor (0.130216081) you get the increase in today's Dow. A dollar increase or decrease in a Dow stock results in a $7.68 change in the Dow Index.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was $55.54 up 90 cents from Friday's average of $54.64. The median closing price of Monday's Dow Jones Industrial Average was $50.41 (DIS/UNH) up 75 cents from Friday's median closing price of $49.66. 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 or dividends) and sold at the close you would have made $2,700 ($166,620 -$163,920).

11/19/12 Fri. 4:46 MarketWatch by Kate Gibson says U.S. stocks rallied Monday, notching their best session in more than two months, on upbeat housing data and increasing confidence that a U.S. budget deal would be reached. “It is quite clear both sides want to come to a compromise and that a reasonable compromise is available,” said David Kelly, chief global strategist at J.P. Morgan Funds, about efforts to avoid automatic tax increases and spending cuts scheduled to begin in January.

The Dow Jones Industrial Average DJIA+1.65% added 207.65 points, or 1.7%, to 12,795.96, with all of its 30 components rising. Cisco Systems Inc.CSCO+1.73% rose 1.7% after it said Sunday that it would acquire Meraki Inc. for $1.2 billion. Intel Corp. INTC+0.30% shares climbed 0.3% after the semiconductor manufacturer and Dow component said Chief Executive Paul Otellini would retire in May after nearly 40 years with the company. The S&P 500 Index S +1.28% climbed 27.01 points, or 2%, to 1,386.89, with its consumer sectors the best performing among its 10 industry groups. The Nasdaq Composite Index COMP+2.21% gained 62.94 points, or 2.2%, to 2,916.07. The session had all three indexes gaining the most since Sept. 6, when the market rallied on European Central Bank President Mario Draghi’s plan to rescue the euro. For every stock that fell more than seven gained on the New York Stock Exchange, where nearly 711 million shares traded. Composite volume topped 3.3 billion. The U.S. dollar DXY-0.44% fell against other global currencies as commodities rallied. Gold futures for December delivery GCZ2+1.00% rose $19.70, or 1.2%, to $1,734.40 an ounce and crude oil for January delivery CLF3+2.59% climbed $2.36, or 2.7%, to $89.28 a barrel. Stock indexes continued to rally after the National Association of Home Builders/Wells Fargo index of builder confidence climbed to 46 in November from 41 the previous month. Separately, the National Association of Realtors reported sales of previously owned homes increased 2.1% to 4.79 million in October. Stocks on Friday finished with daily gains and weekly losses, with the market getting a lift late in the week on optimism that the White House and Congress would reach a budget agreement. “I think the surprise is going to be a more cooperative environment from our leaders going forward. Maybe that is what the stock market sniffed out last Friday with its intraday upside reversal on heavy volume,” wrote Jeffrey Saut, chief investment strategist at Raymond James & Associates, in an email. As merchants approach the holidays, some are seeing worrisome signs that Americans are tightening their purse strings. On Sunday, President Barack Obama expressed confidence that the United States would “get our fiscal situation dealt with.” The president spoke at a news conference in Bangkok, Thailand, the start of a three-nation Asian trip. Hope that a truce could keep the Israeli army from invading the Gaza Strip for the first time in nearly four years also bolstered investor sentiment. “News reports coming out of Europe overnight suggest that Egypt has stepped in to mediate a settlement of the escalating military conflict between Israel and Hamas in Gaza,” said Fred Dickson, chief investment strategist at Davidson Cos., in a research note.

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

AT&T:  WSJ pC10 "Dish risks return to low orbit" by Miriam Gottfired says Dish hopes to use spectrum it owns in a groud based wireless netowrok to compete against AT&T and Verizon.

Alcoa:  No mentions found.

American Express:  No mentions found.

Bank of America:  WSJ pC2 "Banks in foreclosure pact write down loan values" by Nick Timiraos says Bank of America acconted for the majority of principla wirtedowns among 5 US banks  with about $3.7 bil in homeowner debts written off.

WSJ pC4 "Blue Chips set the table and feast" by Chris Dieterich says the Dow had its best day in more than 2 months as all 30 coponents advanced behind Bank of America and Hewlett-Packard.

IBD pA2 "Bofa set to outperform rivals" says Stifel Nicolaus upgraded Bofa to a buy and riased its price target to 11.

Boeing:  No mentions found.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  IBD pA2 "Cisco rises on Meraki deal", AJC pA10 "Cisco buys tech firm Meraki for $1.2 bil" say Meraki makes technology that helps manage WiFi networks remotely.

Coke:  No mentions found.

Disney:  AJC pA10 "Disney to shut down online movie service" says Disney Movies Online wasn't keeping up with user demands.

DuPont:  No mentions found.

Exxon:  No mentions found.

GE:  No mentions found.

Hewlett-Packard: WSJ pC4 "Blue Chips set the table and feast" by Chris Dieterich says the Dow had its best day in more than 2 months as all 30 coponents advanced behind Bank of America and Hewlett-Packard.

Home Depot:  WSJ pB8 "Lowe's storess how improvement" by Joan Solsman says Lowe's has been reshaping its operations to better compete with Home Depot which has beaten Lowe's same store sales performance for years.

Intel:  WSJ pA1 "Intel CEO will retirre early" by Don Clark, WSJ pC10 "Intel says goodbye to Mr. Chips" by Rolfe Winkler, USA Today p2B "Intel CEO to retire in May" by Scott Martin, NYT pB1 "In surprise, Intel chief will retire" by Quentin Hardy, IBD pA1 "Intel CEO's exit a surprise", AJC pA10 "Intel CEO plans 2013 retirement" says Intel CEO Paul Otellini is retiring in May.  Otellini is 62.

IBM:  WSJ pB1 "Lucrative consulting fees reach bigger set" by Joann Lublin says IBM's outgoing CEO Samuel Palmisano will earn $20,000 for any day  he spends 4 hours advising IBM.

JPMorgan:  NYT pB3 "Finance chief in reshuffling at JPMorgan" by Jessica Silver-Greenberg, AJC pA10 "JPMorgan names new CFO; stock rises" WSJ pC1 "Female inroad on Wall St" by Dan Fitzpatrick et al sayMarianne Lake is the new chief fin'l officer of JPMorgan Chase

Johnson & Johnson:  No mentions found.

McDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:  No mentions found.

Pfizer:  No mentions found.

Procter & Gamble:  USA Today p4B "Procter & Gamble: 175 years" by Lisa Bernard-Kuhn profiles Procter & Gamble's 175 years.

3M:  No mentions found.

Travelers:  No mentions found.

UnitedHealthcare:  No mentions found.

United Technologies:  No mentions found.

Verizon:  WSJ pC10 "Dish risks return to low orbit" by Miriam Gottfired says Dish hopes to use spectrum it owns in a groud based wireless netowrok to compete against AT&T and Verizon.

Walmart:  IBD pA1 "Walmart moves up dividend", NYT pA1  "Walmart decides on an early dividend"  by Nathaniel Popper sayWalamrt moved up its quarterly payout to Dec 27 from Jan 2 due to dividend tax rates that will triple if the fiscal cliff isn't averted.

WSJ pB2 "Walmart acts to stop protest" by Melanie Trottman et al, NYT pB7 "Labor Board to act swiftly on Walmart's complaint" by Steve Greenhouse say instead of weeks or months the NLRB will decide within days Walmart's complaint seeking injunctions of protests at stores.



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
MCDNYSE
MRKNYSE
MSFTNASDAQ-GS
PFENYSE
PGNYSE
MMMNYSE
TRVNYSE
UNHNYSE
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)

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)

UnitedHealthUNC Stephen Hemsley (Minnetonka, MN)

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 11/2/ ranked in order of market capitalization rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $416.5
2. Microsoft MSFT 248
3.WalMart WMT 244.6
4. GE 225
5. IBM 218.5
6. Chevron CVX 212.5
7. AT&T T 201.5
8. Johnson & Johnson JNJ 195.5
9. Procter & Gamble PG 189
10. Pfizer PFE 183.5
11. Coke KO 166.5
12. JPMorgan Chase JPM 161
13. Merck MRK 140
14. Verizon VZ 127
15. Intel INTC 110.5
16. Bank of America BAC 106
17. Home Depot HD 93.5
18. Cisco CSCO 92
19. Disney DIS 89.5
20. McDonald's MCD 87.5
21. United Technologies UTX 71.5
22. American Express AXP 64
23. 3M MMM 61.5
24. UnitedHealth UNH 57
25. Caterpillar CAT 56
26. Boeing BA 53
27. DuPont DD 41
28. Hewlett-Packard HPQ 27
29. Travelers TRV 26.5
30. Alcoa AA 9.5

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

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 10/4/12:

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

AT&T T: 11/2/12 10Q for 3Q ended 9/30/12
10/24/12 2 8Ks (10/24) re: 3Q results
10/19/12 8K re: in-kind contrib. to pension plans

Alcoa AA: 10/25/12 re: 3Q ended 9/30/12
10/15/12 8K re: transcript of 3Q earnings call
10/10/12 8K re: 3Q results
10/3/12 8K re: EPA remedial plan for Grasse River


American Express AXP: 10/31/12 10Q re: 3Q ended 9/30
10/17/12 8K re: 3Q results
10/15/12 8K re: delinq. & write-off stats for 3 mos. ended 9/30
10/1/12 8K re: settlement re: U.S. card practices with regulators
9/17/12 8K re: delinq & write-off stats for June, July & Aug
8/15/12 8K re: dlinq. & write0off stats for months of May, June, and July
8/8/12 8K re: presentation from semi-annual Fin'l Community Meeting
8/2/12 10Q for quarter ended 6/30/12


Bank of Am BAC: 11/2/12 10Q 3Q ended 9/30
10/17/12 8K re: 3Q results
9/28/12 8K re: settlement re: $1.6 bil regarding Merrill Lynch purchase
8/23/12 8K re: 4 new directors: Sharon Allen, Jack Bovender, Linda Hudson & David Yost
8/10/12 8K re: retirement of Vice Chiar Charles H. Noski as of 9/1
8/2/12 10Q for quarter ended 6/30/12


Boeing BA: 10/24/12 10Q re: 3Q ended 9/30
10/24/12 8K re: 3Q rsults
10/17/12 8K re: two $2.3 bil credit agreements
8/29/12 8K re: bylaw amendments


Caterpillar CAT: 11/2/12 10Q 3Q eneded 9/30
10/22/12 8K re: 3Q results
10/19/12 8K re: Sept. dealer stats
10/12/12 8K re: officer changes
9/28/12 8K re: price increases
9/21/12 8K re: Aug. dealer stats
9/17/12 8K re: credit agreement for $100 mil
9/7/12 S-4; 8/28/12 8K & 8/20/12 8K all re: exchange offer for debentures


Chevron CVX: 11/2/12 8K re; 3Q results
10/9/12 8K re: 3Q interim results
10/3/12 8K re: election of Dr. Alice P. Gast to Board
8/2/12 10Q & 7/27/12 8K re: 2 Qtr. results ended 6/30/12


Cisco CSCO : 10/4/12 8K re: appointment of Gary B. Moore as Pres & other exec appointments
9/26/12 14A Proxy re: Annual Shareholders Meeting on 11/15/12 at Santa Clara,CA
9/19/12 8K re: departure of Jerry Yang from Board
9/12/12 10K for year ended July 28 '12
8/15/12 8K re: 4Q and FY '12 earnings
8/2/12 8K re: appointment to Bd. of CEO of salesforce.com Marc Benioff and Kristina M. Johnson, CEO of enduring Hydro, LLC


Coke KO: 10/25/12 10Q re: 3Q ended 9/28
10/16/12 8K re: 3Q results
9/14/12 8K re: exec changes
8/23/12 8K re: shareholder approval of stock split

Disney DIS: 10/30/12 8K re: Disney to acquire Lucasfilm
8/7/12 10Q & 8/7/12 8K results for 3rd quarter ended 6/30/12


DuPont DD: 10/23/12 10Q & 8K & 10/9 8K all re: 9/30 Q results
9/4/12 8K re: sale of Performance Coatings Div to Carlyle Group for $4.9 bil


ExxonMobil XOM: 11/2/12 8K re: elecgtion of CEO of Xerox, Ursula M. Burns to Bd
11/1/12 8K re: 3Q results
8/2/12 10Q & 7/26/12 8K re: 2Q results ended 6/30/12


GE: 10/19/12 8K re: 3Q results
10/9/12 8K re: Offering of $7 bil of notes (closing)


Hewlett-Packard HPQ: 10/3/12 8K e: earnings outlook for '13 fiscal year
9/10/12 10Q & 8/22/12 8K re: quarter ended 7/31/12
8/8/12 8K re: write-down due to impairment of goodwill


Home Depot HD: 9/21/12 8K re: election of mark Vadon to Board
8/22/12 10Q for qtr ended 7/29/12
8/14/12 8K re: quarter ended 7/29
8/7/12 8K re: purchase of U.S. Home systems and related Proxy statement


Intel INTC: 10/31/12 10Q & 10/17 8K & 10/16 8K all re: 9/29 Q results
9/12/12 8K re: closed pruchase of ASWML Holding for $3.1 bil
9/7/12 8K re: lowering 3Q rev outlook
8/1/12 10Q for quarter ended 6/30/12


IBM: 10/30/12 & 10/17 8K & 10/16 8K all re: 3Q results ended 9/30
10/12/12 8K reL election of Virginia M. Rometty to Chrmn of Bd.
9/25/12 8K re: election of Virginia M. Rometty as Chair of Board
8/1/12 8K re: closing of sale of IBM's Retail Store Solutions biz to Toshiba Tec



JPMorganChase JPM: 9/24/12 8K re: offering of $3 bil of 3.25% Note due '22
9/19/12 8K re: clsoing of 2.9% Notes due '17
8/27/12 8K re: isswuance of 5.5% non-cumulative Pref shares, Series O
8/20/12 8K re: closing of $2.5 bil 2% Notes due '17
8/9/12 10Q for period ended 6/30/12



Johnson & Johnson JNJ : 10/16/12 8K re: 3Q ended 9/30
8/16/12 8K re: discontinuance of bapineuzumbab trials
8/2/12 10Q for quarter ended 7/1/12


McDonald's MCD: 11/1/12 10Q & 10/19 8K re: 3Q ended 9/30
9/28/12 8K re: adoption of accoutning standard
9/24/12 8K re: quarterly cash div
9/12/12 8K re: sales increase of 3.7% in Aug.
8/9/12 8K re: July '12 sales
8/6/12 10Q for quarter ended 6/30/12



Merck MRK: 10/26/12 8K re: 3Q results
9/13/12 8K re: closing of sale of notes
8/7/12 10Q & 7/27/12 8K re: results of second quarter ended 6/30/12



Microsoft MSFT: 11/2/12 8K & 10/18 10Q & 10/18 8K re: 1Q results
10/17 & 10/10 & 10/9 Proxy materials re: 11/28 Annual Meeting of Shareholders at Bellevue, Wash
10/9/12 8K re: retirement of Reed Hastings from Bd & other Bd. changes
9/18/12 8K re: increase in quarterly div & retirement of Raymond Gilmartin from Board


Pfizer PFE: 11/1/12 8K re: 3Q results
8/14/12 8K re: purchase of marketing rights to OTC Nexium from AstraZeneca
8/9/12 10Q & 7/31/12 8K re: results of 2 Qtr ended 7/1/12



Procter & Gamble PG: 10/25/12 10Q & two 8Ks 10/25 re 1Q results ended 9/30
10/12/12 re: '12 Annual Shareholder Mtg results
10/9/12 8K re: dividend of 0.562 cents per share payable on 11/15 to 10/19 record holders
10/9/12 re: CEO's speech at Shareholder Mtg
9/21/12 14A proxy re: candidate for Board
9/6/12 8K re: FD disclosure re: Barcaly's Back to School consumer conf.
8/24/12 14A Proxy re: Annual Meeting of Shareholders on 10/9/12 in Cincinnati
8/16/12 Form 8-A & 8/16 & 8/14/12 8Ks re sales of notes
8/8/12 10K and 8/3/12 2 8Ks all re: fourth quarter results for year ended 6/30/12



3M MMM: 11/1/12 10Q & 10/23 8K re: 3Q ended 9/30
10/3/12 8K re: $1.5 bil revolving credit agreement
10/1/12 8K re: contract to purchase Ceradyne Inc. for $35 per share
8/29/12 K re: $150 mil credit agreement
8/2/12 & 7/26/12 8K re: 2nd quarter results for quarter ended 6/30/12



Travelers TRV: 10/18/12 10Q & 10/18 8K re: 3Q ended 9/30/12
7/19/12 10Q & 7/19/12 8K re: results of quarter ender 6/30/12


UnitedHealth Group UNH: 11/2/112 Bd. & officer changes
10/30/12 10Q for quarter ended 9/30
10/2212 8K re: underwriting agreement to sell over $3.4 bil of notes
10/16/12 8K re: 3Q results
10/9/12 8K re: purchase of 90% of Brazil firm Amil Participacoas for $4.9 bil in cash
9/10/12 re: FD disclosure re: Morgan Stanley Healthcare Conference
8/7/12 10Q re: quarter ended 6/30/12


United Technologies UTX: 10/26/12 & 10/23/12 8K re: 3Q ended 9/30
10/11 8K/A re: Goodrich purchase
9/12/12 8K re: election of Marshall Larsen to Board


Verizon Communications Inc. VZ: 11/2/12 8K re: tenderoffer for $1.25 bil of its notes
11/2/12 8K re: Agreements ith CWA & IBEW for new 3 year congtracts covering 43,000 workers
10/25 10Q & 10/18 8K & 10/5/ 8K re: 3Q ended 9/30
10/17 8K re: transfer $7.5 bil of pension plan obligations to Prudential


WalMart WMT: 9/6/12 10Q for quarter ended 7/31/12
8/16/12 8K re: 2 Qtr results
END

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