Wednesday, November 7, 2012

11/7/12 Wed am Pfizer's Arthritis Drug OK'd by FDA

Post No. 1,890 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  Wednesday's Wall St. Journal, Financial Times, Investor's Business Daily, New York Times, USA Today, Atlanta Journal Constitution &amp 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 Tuesday's stock prices and related data in alphabetical order.

Dow Jones Average:  The Dow Jones Industrial Average closed Tuesday at 13,245.68 up 133.24 or 1.02% from Monday's close of 13,112.44. For the year the Dow is up8.42 %.  Of the Dow components 28 gained and 2 declined. The biggest gainer dollar-wise was Boeing up $1.62 and percentage-wise was Hewlett-Packard up 2.82%. The biggest decliner dollar-wise and percentage-wise was Intel down 10 cents or 0.5%.

WSJ pC4 "Blue chips rock the vote again" by Chris Dieterich says investors pulled the buy lever headed into the election  Hewlett-Packard let the Dow adding 39 cents.  United Technologies gained $2.07 and Boeing gained $1.61.

NYT pB7 "market climbs as campaign nears its end" by Reuters says the stock market climbed on Tues as investors looked forward to a resolution to the election.

IBD pB6 "Stocks advance modestly as voters head to polls" by Victor Reklaitis says stocks scored moderated Election Day gains Tues earning a 2 day winning streak as Tuesday's action saw decent gains in higher trade and the current outlook is still the market is in a correction.

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 0.130216081. Wednesday's trailing P/E ratio is 14.47 up from Tuesday's trailing P/E ratio of 14.35 (year ago it was 13.09); today's P/E estimate is 12.37 unchanged from Tuesday's P/E estimate of 12.37   (year ago it was 12.35) and Wednesday's dividend yield is 2.56 down from yesterday's dividend yield of 2.59 (last year it was 2.56). 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.

Tuesday's Dow Jones Industrial Average closing numerator was 1,724.80 up 16.05 from Monday's closing numerator of 1,708.75. 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 Tuesday's Dow Jones Industrial Average was $57.49 up 53 cents from Monday's average of $56.96. The median closing price of Tuesday's Dow Jones Industrial Average was $53.40 (DIS/UNH) up 57 cents from Monday's median closing price of 52.83. 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 or dividends) and sold at the close you would have made $1,605 $172,480 -($170,875).

11/6/12 Tues. 3:40 MarketWatch by Kate Gibson says U.S. stocks rallied on Tuesday, extending gains into a second day, as Wall Street embraced the notion that soon the uncertainty that came with the presidential campaign would be over. As Americans cast ballots that should determine whether President Barack Obama remains in office for another term or Mitt Romney replaces him, equities surged in another low-volume trading session. “It’s having a decision that is important. We do not want a repeat of 2000,” said Art Hogan, market strategist at Lazard Capital Markets, referring to the election where Al Gore won the popular vote but lost the electoral college, when the Supreme Court voted 5-4 to stop a recount in Florida. After climbing 178 points, the Dow Jones Industrial Average DJIA+1.02% rose 126.47 points, or 1%, to 13,238.91 in late-afternoon trade, with Hewlett-Packard Co.HPQ+2.78% leading gains that included all but two of its 30 components. “Hope springs eternal on Wall Street that we won’t fall apart. There is enough of a belief that the economy is going to expand, maybe not strongly, but still expand, in 2013,” said Hugh Johnson, chairman of Hugh Johnson Advisors in Albany, N.Y. “For the past few months we’ve been saying that the market would rally in November and December, regardless of who wins. It looks like the economy is improving and the Federal Reserve is still pumping money into the system,” said Bruce Bittles, chief investment strategist at RW Baird & Co. The S&P 500 index SPX+0.79% climbed 10.43 points, or 0.7%, to 1,427.69, with energy and industrials the best performing and telecommunications the sole laggard of its 10 major industry groups. The Nasdaq Composite COMP+0.41% added 9.84 points, or 0.3%, to 3,009.50. For every stock falling nearly three gained on the New York Stock Exchange, where 461 million shares traded by 3:30 p.m. Eastern. Composite volume topped 2.6 billion. Bittles said the market’s rise “looks bullish for Romney,” given the perception the Republican would be friendlier to corporate America. Hogan, however, dismissed the notion: “You could make the same statement in the other direction, that the market is rallying on an Obama win.” “I don’t think the market is telling us anything about the election right now,” said Hogan, who chalked up the advance as largely due to a couple of better earnings reports, including CVS Caremark Corp. CVS+0.54% , light volume and that “we’re down 4% since September.” Regardless of the outcome, Tuesday’s election is unlikely to resolve Wall Street’s concern over the so-called fiscal cliff — more than $600 billion in tax hikes and spending cuts due to take effect next year should Congress fail to reach agreement. “Wall Street has concluded that no matter who wins we’ve got some very significant problems ahead,” said Johnson. Investors’ concerns over the fiscal cliff have kept stocks in a holding pattern since mid-September. “Wall Street used to think it’s better to have a divided government, because very little gets done, and that’s good news for Wall Street. Now if nothing gets done, it could have serious economic consequences,” Johnson said. The U.S. dollar DXY-0.12% fell against other currencies, including the euro EURUSD +0.1457% , while dollar-denominated commodities gained, with crude-oil futures CLZ2+3.21% rising $3.06 to settle at $88.71 a barrel on the New York Mercantile Exchange. Treasury prices slipped, with the yield on the benchmark 10-year note10_YEAR +3.54% at 1.748%.

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

AT&T: WSJ pC16 "Nokia's closing window" by Rolfe Winkler says Nokia's flagship phone the Lumia 920 will cost $99 AT&T said on Tues.  AT&T is the only US wireless carrying it.  Nokia is pushing a new mobile operating system that has tiny market share:  Microsoft's Windows phone.

Alcoa:  No mentions found.

American Express:  No mentions found.

Bank of America:  No mentions found.

Boeing: WSJ pC4 "Blue chips rock the vote again" by Chris Dieterich says investors pulled the buy lever headed into the election  Hewlett-Packard let the Dow adding 39 cents.  United Technologies gained $2.07 and Boeing gained $1.61.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  No mentions found.

Coke:  No mentions found.

Disney:  No mentions found.

DuPont:  No mentions found.

Exxon:  WSJ pC1 "The new haven for investors" by Patrick McGee et al says bonds of ExxonMobil and Johnson & Johnson are trading with yields below those of comparable Treasurys, a sign that investors perceive them as a safer bet.

GE:  No mentions found.

Hewlett-Packard:  WSJ pC4 "Blue chips rock the vote again" by Chris Dieterich says investors pulled the buy lever headed into the election  Hewlett-Packard let the Dow adding 39 cents.  United Technologies gained $2.07 and Boeing gained $1.61.

WSJ pB1 "What's gone wrong with HP?" by Ben Worthen says 2 years and 2 CEOs later after ceo Mark Hurd said Hewlett-packard was still not to its full potential Hewlett-Packard is still stumbling as its market cap has falled to less than $30 bil from more than $100 bil and on Friday its shares hit a new 10 year low.

Home Depot:  No mentions found.

Intel:  No mentions found.

IBM:  No mentions found.

JPMorgan:  WSJ pC3 "JPMorgan nears SEC settlement" by Dan Fitzpatrick says JPM is close to settling with the SEC re: how its Bear Stearns unit packaged and sold home loans.

Johnson & Johnson:   WSJ pC1 "The new haven for investors" by Patrick McGee et al says bonds of ExxonMobil and Johnson & Johnson are trading with yields below those of comparable Treasurys, a sign that investors perceive them as a safer bet.

McDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:  IBD pA2 "Microsoft rollling out Halo 4" says MSFT hopes the latest installment in Xbox blockbuster franchise will reignite itnerest in the series.  Halo 4 is the first new version of Halo in 5 years.

WSJ pC16 "Nokia's closing window" by Rolfe Winkler says Nokia's flagship phone the Lumia 920 will cost $99 AT&T said on Tues.  AT&T is the only US wireless carrying it.  Nokia is pushing a new mobile operating system that has tiny market share:  Microsoft's Windows phone.

Pfizer:  NYT pB7 "FDA cleara s Pfizer treatment for rheumatoid arhtritis" by Reuters, AJC pA20 "Pfizer says FDA approves arthritis drug" say the FDA approved Pfier's rheumatoid arthritis pill Xeljanz seen as a potential big seller for patients who can't take methetrexate.

Procter & Gamble:  No mentions found.

3M:  No mentions found.

Travelers:  No mentions found.

UnitedHealth:  No mentions found.

United Technologies: WSJ pC4 "Blue chips rock the vote again" by Chris Dieterich says investors pulled the buy lever headed into the election  Hewlett-Packard let the Dow adding 39 cents.  United Technologies gained $2.07 and Boeing gained $1.61.

Verizon:  No mentions found.

Walmart:  WSJ pB6 "Retail's new pace in China" by Kathy Chu et al says the slowdown of the Chinese economy is making Walmart and otehrs rething expansion plans there.  Walmart is opening only half the square footage originally planned in China this year.

Tuesday's Closing Dow Numbers:

SymbolLast SaleChange% ChangeShare VolumeMarket

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 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

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