Post No. 2,431 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.
The Dow Jones Industrial Average closed Monday at 15639.12 up 23 or 0.15% from Friday's close of 15615.55. Of the Dow components 10 gained and 20 declined. The biggest gainer dollar-wise and percentage-wise was Exxon up $2.28 or 2.54% . The biggest decliner dollar-wise and percentage-wise was JPMorgan down $2.74 or 1.38%.
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 0.15571590501117. Monday's trailing P/E ratio is 17.50 up from Friday's trailing P/E of 17.42 (last year it was 14.31); Monday's P/E estimate is 14.70 up from Friday's P/E estimate of 14.65 (year ago it was 12.37) and Monday's dividend yield is 2.14 down from Friday's dividend yield of 2.14 (last year it was 2.59). The Dow's all-time high was 15,680.35 on October 29, 2013. 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 2435.26 up 3.67 from Friday's closing numerator of 2431.59. 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 change for today by the divisor (0.15571590501117) you get the change in today's Dow. A dollar increase or decrease in a Dow stock results in a $6.42 change in the Dow Index.
The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was $81.18 up 13 cents from Friday's average closing price of 81.05. The median closing price of Monday's Dow Jones Industrial Average was $77.16 (HD/WMT) up 13 cents from Friday's median closing price of $77.03 (HD/WMT). The lowest volume was Travelers and the highest volume was Cisco.
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 $367 ($243,526 -$243,159).
MarketWatch
11/4/13 Mon. 4:48 pm by William L. Watts & Victor Reklaitis says U.S. stocks settled with modest gains Monday as investors
took a cue from upbeat earnings and shook off fears the market is
overdue for a correction.The S&P 500
SPX
+0.36%
rose 6.29 points, or 0.4%, to close at 1,767.93, not far from the
all-time closing high of 1,771.95 set early last week. The Dow Jones
Industrial Average
DJIA
+0.15%
shook off earlier weakness to advance 23.57 points, or 0.2%, to
15639.12.Victor Reklaitis takes a look at which stocks investors will be
watching during market action, including Apple, Kellogg, and Berkshire
Hathaway. The Nasdaq Composite
COMP
+0.37%
gained 14.55 points, or 0.4%, to 3,936.59.A “stretched” valuation for the S&P 500 indicates further gains will
be sluggish, said analysts at futures broker R.J. O’Brien in Chicago.“We still look for a generally rising stock market into 2014, but there
is likely to be a lot of sideways action with only a modest upward bias.
The medium-term earnings outlook looks positive, but the S&P 500 is
already trading at the relatively rich level of 15.9 times forward
earnings. That is well above the five-year average of 14.0 and the
10-year average of 14.8,” they wrote in a note.“Due to stretched valuations, we believe the stock market will only be
able to climb as fast as earnings grow,” the R.J. O’Brien analysts said,
adding that the “good news” is that the market is looking for strong
earnings growth of 11.3% in 2014 after growth of only 5.8% this year.Investors are also trying to gauge when the Federal Reserve will begin to slow the pace of monetary stimulus.“The market’s Kryptonite is early taper talk at the moment, and this
first full week of November has the potential for it to be hurled at it
from all directions,” said Jim Reid, strategist at Deutsche Bank. St. Louis Federal Reserve Bank President James Bullard told CNBC that the Federal Reserve did not have to be in a “hurry”
to pare its $85 billion-a-month in bond purchases, because inflation is
low. But Bullard also made several comments that suggested a taper
could come soon.U.S. factory orders for September rose 1.7%. That met the consensus forecast from a MarketWatch poll of economists. Other surveys called for a 1.8% gain.
In other Fed news, Dallas Fed President Richard Fisher suggested in
Sydney on Monday that tapering of bond buys could come sooner than
expected, and that fiscal risks shouldn’t stop the Fed from doing what
is right for the economy. Late Monday, Boston Fed President Eric
Rosengren, a voting member of the Fed’s policy-making arm, said a delay
in the reduction of the bond-buying program from December to April would
make only a small difference to the overall size of the central bank’s balance sheet. A strong October for stocks, with the S&P 500 gaining 4.5% and
hitting record highs, has left some strategists cautious. “The outsized
gains the stock market enjoyed in October […] suggest a pause is likely
before the year-end rally continues,” said Bruce Bittles, chief
investment strategist at Robert W. Baird & Co., in a note on Monday.
Bittles and other strategists say the principal driver for stocks
continues to be Fed policy. Read more: The next pain trade involves March taper assumptions. Others note that, historically, strong year-to-date gains through October have tended to point to further gains for equities in November and December.Among blue chips, shares of Visa Inc.
V
-0.16%
, down 1.4%, and Du Pont
DD
+0.12%
, down 1.3%, were the biggest losers. DuPont had gained ground last week
after it said it would spin off its performance chemicals unit to
existing shareholders.Fellow Dow component Johnson & Johnson
JNJ
+0.05%
fell 0.4% after the company said it would pay around $2 billion
to settle a Justice Department probe into the marketing of
antipsychotic drug Riperdal. The company will plead guilty to a
misdemeanor, officials said.
Exxon Mobil Corp.
XOM
-0.08%
was the Dow’s top gainer, advancing 2.5% and tracking gains in the energy sector.Elsewhere, shares of BlackBerry Ltd.
BBRY
+0.08%
fell more than 16% on news the ailing smartphone maker has abandoned a plan to sell itself.
BlackBerry said it would replace Chief Executive Thorsten Heins and
receive a $1 billion investment from institutional investors. See: BlackBerry tries to keep the lights on.Kellogg Co.
K
-0.17%
rose 0.7% after the cereal maker reported earnings and said it would cut its workforce by 7% by the end of 2017.
Twitter Inc.
TWTR
0.00%
on Monday raised the price range
for its initial public offering a few days before its trading debut.
Twitter set a range of $23 to $25 a share, versus its previous target of
$17 to $20. The move drew mixed reactions, with one skeptic warning of an “overvaluation challenge” that recalled the hype that surrounded Facebook Inc.’s
FB
-0.06%
troubled public debt last year.
Steel makers rose after analysts at Goldman Sachs upgraded their view on the sector
to neutral from cautious and upgraded the shares of individual steel
makers. Goldman lifted AK Steel Holding Corp.
AKS
-1.00%
and United States Steel Corp.
X
-0.74%
to buy from sell and raised Steel Dynamics Inc.
STLD
+0.02%
to buy from neutral. AK Steel shares rose 8.7%, while United States
Steel advanced 4.4% and Steel Dynamics gained 2.2%. Also, Goldman
downgraded Reliance Steel & Aluminum Co.
RS
-0.16%
to neutral from buy. Shares rose 0.2%.
Monday's Closing Dow Numbers:
| Symbol | Last Sale | Change | % Change | Share Volume | Market |
| T |  | NYSE | |||
| AXP |  | NYSE | |||
| BA | | NYSE | |||
| CAT | | NYSE | |||
| CVX | | NYSE | |||
| CSCO | | NASDAQ-GS | |||
| KO | | NYSE | |||
| DIS | | NYSE | |||
| DD | | NYSE | |||
| XOM | | NYSE | |||
| GE | | NYSE | |||
| GS | | NYSE | |||
| HD | | NYSE | |||
| INTC | | NASDAQ-GS | |||
| IBM | | NYSE | |||
| JPM | | NYSE | |||
| JNJ | | NYSE | |||
| MCD | | NYSE | |||
| MRK | | NYSE | |||
| MSFT | | NASDAQ-GS | |||
| NKE | | NYSE | |||
| PFE | | NYSE | |||
| PG | | NYSE | |||
| MMM | | NYSE | |||
| TRV | | NYSE |
| UTX | | NYSE | |||
| UNH | | NYSE | |||
| VZ | | DualListed | |||
| V | | NYSE | |||
| WMT | | NYSE |
The following are excerpts from Monday morning's Blog:
A read of the print editions of Monday's Barron', Investor's News Daily, Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal & amp; 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.
The Dow Jones Industrial Average:The Dow Jones Industrial Average closed Friday at 15615.55 up 69.8 or 0.45% from Thursday's close of 15545.75. For the week the Dow was up 45.27 or 0.29% from last Friday's close of 15570.28. For the year the Dow is up19.17 %. Of the Dow components 25 gained and 5 declined. The biggest gainer dollar-wise and percentage-wise was Boeing up $2.53 or 1.94% . The biggest decliner dollar-wise and percentage-wise was Chevron down $1.95 or 1.63 %.
IBD pB8 "Stocks quiet but history says an advance is liekly" by Paul Whitfield says stocks kicked off Nov wih small gains in fading volume as the current outlook is a confirmed uptrend.
Sat. WSJ pB5 "Blue Chips advance 4th week in a row" by Alexandra Scaggs says stocks gained due to a handful of better than expected reports on manufacturing activity around the globe.
Friday's Dow Jones Industrial Average closing numerator was 2431.59 up 10.87 from Thursday's closing numerator of 2420.72. 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 change for today by the divisor (0.15571590501117) you get the change in today's Dow. A dollar increase or decrease in a Dow stock results in a $6.42 change in the Dow Index.
The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $81.05 up 41 cents from Thursday's average closing price of 80.69. The median closing price of Friday's Dow Jones Industrial Average was $77.03 (HD/WMT) down 29 cents from Thursday's median closing price of $77.32 (HD/WMT). The lowest volume was Travelers and the highest volume was GE.
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 or dividends) and sold at the close you would have made $1,087 ($243,159 - $242,072).
MarketWatch 11/1/13 Fri. 4:41 pm by Victor Reklaitis says U.S. stocks gained on Friday after a solid manufacturing report, leading to a fourth straight up week for the S&P 500 and Dow industrials.
The S&P 500
SPX
+0.29%
rose 5.10 points, or 0.3%, to close at 1,761.64. Industrials and
utilities performed best among S&P 500 sectors, while energy and
materials were the laggards. The benchmark index edged up 0.1% for the
week.The Dow Jones Industrial Average
DJIA
+0.45%
climbed 69.80 points, or nearly 0.5%, to finish at 15,615.55. Chevron Corp.
CVX
-0.01%
slid 1.6% and fared worst among blue chips after its earnings report. The Dow advanced 0.3% for the week.
The Nasdaq Composite
COMP
+0.06%
tacked on 2.34 points, or less than 0.1%, to 3,922.04. The tech-heavy
index was hurt by a 0.5% drop for Apple Inc.
AAPL
-0.01%
, which began selling its new iPad Air in its retail stores on Friday.For the week, the Nasdaq lost 0.5%, snapping a two-week
After a worrying slowdown in the first half of the year, China's
manufacturing Purchasing Managers Index rose to 51.4 in October from
51.1 in September. Shuang Ding of Citibank tells the WSJ's Aaron Back
why the government's 7.5% growth target should be within reach this
year.The Institute for Supply Management said U.S. manufacturing remained strong in October.
The ISM index climbed to 56.4% — the highest level since April 2011 —
from 56.2% in September. Economists polled by MarketWatch expected a 55%
reading.“The report confounds expectations of a decline on account of the
government shutdown, corroborates the earlier Chicago reading and
justifies the [Federal Reserve’s] recent failure to signal deepening
fears surrounding fiscal woes,” said Andrew Wilkinson, chief economic
strategist at Miller Tabak, in emailed comments.Stocks had climbed to session highs after the ISM report, with the Dow
up more than 100 points, then pared much of those gains. But stocks
recovered and closed not far off session highs.“The market is correcting a little bit, but it’s correcting on an
intraday basis,” said Peter Cardillo, chief market economist at Rockwell
Global Capital. He said it could be a good sign for the rest of
November that stocks rallied into the close, noting the market might
have some bumpy days but continue its bull run.The main indexes closed out October with sizable gains, such as a 4.5% monthly advance for the S&P 500. The benchmark index is up 23.5% in 2013 to date.With the S&P 500 and Dow not far off from their record closes on Tuesday,
some market strategists have expressed wariness. Uri Landesman,
president of the $1.25 billion hedge fund Platinum Partners, said stock
prices don’t account for a number of risks, including the potential for
weaker earnings reports, softer economic data, more Washington drama and
geopolitical risks.“The market’s kind of ignoring all of those things,”
he said in an interview on Friday.Landesman said he saw some strength
in Friday’s manufacturing report,
but he’s worried about parts of the U.S. economy that aren’t
participating in the recovery. The Fed has kept stimulus measures and
that isn’t ultimately a positive factor, he added. “The market’s
eventually going to understand that the fact that the Fed is still here
is a bad thing, not a good thing,” he told MarketWatch.On Thursday, a report on Chicago-area business conditions beat expectations. In another manufacturing report Friday, Markit’s “final” manufacturing purchasing managers’ index for October increased to 51.8 from an initial “flash” reading of 51.1.In other financial markets, European stock indexes closed mostly lower, while Asian stocks ended mixed, after an official gauge of Chinese factory activity last month showed signs of weakness for smaller manufacturers. That gauge and a competing indicator both showed expansion, but some analysts weren’t optimistic about the details.Oil prices dropped and gold lost ground.The dollar
DXY
+0.58%
rallied against other major currencies, especially the euro.
Monday's Dow News followed by Friday's Closing Dow Numbers:
AT&T: WSJ pC6 "NSA cloud could give AT&T cover" by Miriam Gottfried says increased scrutiny of any AT&T deal may chill its efforts to bid for the remaining piece of Vodafone.
IBD pA5 "Sprint set to pick p the pace in 4G wireless race" by Reinhardt Krause, Barron's p31 "A star is born: T-Mobile takes the stage" by Tiernan Ray say Spring is trying to overtake AT&T and Verizon.
Barron's p41 "CEO spotlight Lowell McAdam, Verizon Communications" by Dyan machan says AT&T is about a year, and Sprint and T-Mobile US, two years behind Verizon's 4th generation LTE or Long Term Evolution network.
American Express: No mentions found.
Boeing: WSJ pA1 "Pentagon toils to build a bomber on a budget" by Julian E. Barnes says last month Boeing and Lockheed announced a joint bid for a new bomber competing vs. Northrop Grumman amker of the B-2.
Caterpillar: WSJ pB5 "Caterpillar US prosecutors probe rail services unit" says Cal. Fed prosecutors are investigating whether Caterpillar violated invironmental laws re: repairs of railroad cars and disposal of parts.
Chevron: WSJ pB4 "Chevron spending jumps" by Dan Gilbert, IBD pA2 "Refining slump hurts Chevron" says 3Q EPS was $2.57 matching year ago but missing analyst estimates of $2.71 as wear refining results & higher operating costs offset higher oil and gas production and prices. Rev dipped slightly to $58.5 bil from $58.04 a year ago.
IBD pA12 "Chevron vindicated in Ecuador" says Chevron was the victim of a corrupt Third World gov.
Cisco: No mentions found.
Coke: Barron's p39 "Why three big stocks look like bargains" by Lawrence C. Strauss, says Donald A. Yacktman, Pres. of his asset management firm likes Procter & Gamble and Coke because risk wise they are like undervalued AAA bonds, profitable, with slow unit growth and a nice dividend.
Disney: WSJ pB2 "Happening this week" says Disney reports results on Thurs.
NYT pB3 "Disney and Dish wrangle not over broadcast fees, but the future of TV" by Brian Stelter says Dish may distribute Disney properties like ESPN to subscribers not only through satellite dishes but also in channel bundles streamed over the Internet.
DuPont: No mentions found.
Exxon:WSJ pC6 "Big oil's tricky mix of shale, scale" by Liam Denning says Exxon left XTO, its shale gas firm it bought in '10 as a stand alone division due to the diffficulty of putting shale drilling operations in a big centralized organization.
GE: No mentions found.
Goldman Sachs: FT p20 "Goldman kicks off social investing fund" by Tom Braithwaite says Goldman Sachs is launching a $250 mil social impact fund to invest in affordable housing, pre-school ed, etc.
Home Depot: No mentions found.
Intel: No mentions found.
IBM: Barron's p44 "Speaking of dividends" by Shirley A. Lazo says IBM on Tues added another $15 bil to its stock buyback program. It has paid consecutive quarterly cash dividends since 1916.
Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
JPMorgan: IBD pA2 "JPMorgan: Gov't probe widens" says the Dept. fo Justice and others are investigating JPMorgan's hiring practices in Hong Kong.
IBD pA1 "Citi, JPMorgan under scrutiny" says banks, including JPMorgan' are in a grrowing global inquiry re: manipulation of the global currencies market.
Barron's p23 "Discover the company behidn the card" by Jack Hough says Discover was formed in '85 by Sears and grew by offering lower fees than Visa and Mastercard to merchants. Last year credit card balances grew slowly at American Express and shrank at JPMorgan, Bank of America & Citigroup.
Johnson & Johnson: Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
McDonald's: Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Merck: WSJ pB3 "Merck says clinical trials indicate promise for experimental HPV vaccine" by Peter Loftus says a vaccine named V503 got good results and could lead to market launch next year.
Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Microsoft: WSJ pB5 "Tech wars erupt again" by Ashby Jones says a jv owned by Apple, Microsoft, BlackBerry, Ericcsson & Sony sued a group including Google, Samsung, LG, HTC & Huawei re: patent infringements re: smartphone designs & features.
Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Nike: Barron's pM13 "Research Reports" edited by Paul Farrell says a report by Morgan Stanley on Nike was issued on 10/29 with an "overweight" while it was trading at $75.91 & gives it an $85 price target.
Pfizer: No mentions found.
Procter & Gamble: NYT pB6 "Brands align with a mustachioed month" by Andrew Adam Newman says November targets men's health issues to raise money so Procter & Gamble's Gillette is promoting growing mustaches.
Barron's p39 "Why three big stocks look like bargains" by Lawrence C. Strauss, says Donald A. Yackman, Pres. of his asset management firm likes Procter & Gamble and Coke because risk wise they are like undervalued AAA bonds, profitable, with slow unit growth and a nice dividend
3M: No mentions found.
Travelers: No mentions found.
United Technologies: No mentions found.
UnitedHealth: No mentions found.
Verizon: Barron's p41 "CEO spotlight Lowell McAdam, Verizon Communications" by Dyan Machan, Barron's p31 "A star is born: T-Mobile takes the stage" by Tiernan Ray say AT&T is about a year, and Sprint and T-Mobile US, two years behind Verizon's 4th generation LTE or Long Term Evolution network.
Walmart: Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Monday's Dow News followed by Friday's Closing Dow Numbers:
AT&T: WSJ pC6 "NSA cloud could give AT&T cover" by Miriam Gottfried says increased scrutiny of any AT&T deal may chill its efforts to bid for the remaining piece of Vodafone.
IBD pA5 "Sprint set to pick p the pace in 4G wireless race" by Reinhardt Krause, Barron's p31 "A star is born: T-Mobile takes the stage" by Tiernan Ray say Spring is trying to overtake AT&T and Verizon.
Barron's p41 "CEO spotlight Lowell McAdam, Verizon Communications" by Dyan machan says AT&T is about a year, and Sprint and T-Mobile US, two years behind Verizon's 4th generation LTE or Long Term Evolution network.
American Express: No mentions found.
Boeing: WSJ pA1 "Pentagon toils to build a bomber on a budget" by Julian E. Barnes says last month Boeing and Lockheed announced a joint bid for a new bomber competing vs. Northrop Grumman amker of the B-2.
Caterpillar: WSJ pB5 "Caterpillar US prosecutors probe rail services unit" says Cal. Fed prosecutors are investigating whether Caterpillar violated invironmental laws re: repairs of railroad cars and disposal of parts.
Chevron: WSJ pB4 "Chevron spending jumps" by Dan Gilbert, IBD pA2 "Refining slump hurts Chevron" says 3Q EPS was $2.57 matching year ago but missing analyst estimates of $2.71 as wear refining results & higher operating costs offset higher oil and gas production and prices. Rev dipped slightly to $58.5 bil from $58.04 a year ago.
IBD pA12 "Chevron vindicated in Ecuador" says Chevron was the victim of a corrupt Third World gov.
Cisco: No mentions found.
Coke: Barron's p39 "Why three big stocks look like bargains" by Lawrence C. Strauss, says Donald A. Yacktman, Pres. of his asset management firm likes Procter & Gamble and Coke because risk wise they are like undervalued AAA bonds, profitable, with slow unit growth and a nice dividend.
Disney: WSJ pB2 "Happening this week" says Disney reports results on Thurs.
NYT pB3 "Disney and Dish wrangle not over broadcast fees, but the future of TV" by Brian Stelter says Dish may distribute Disney properties like ESPN to subscribers not only through satellite dishes but also in channel bundles streamed over the Internet.
DuPont: No mentions found.
Exxon:WSJ pC6 "Big oil's tricky mix of shale, scale" by Liam Denning says Exxon left XTO, its shale gas firm it bought in '10 as a stand alone division due to the diffficulty of putting shale drilling operations in a big centralized organization.
GE: No mentions found.
Goldman Sachs: FT p20 "Goldman kicks off social investing fund" by Tom Braithwaite says Goldman Sachs is launching a $250 mil social impact fund to invest in affordable housing, pre-school ed, etc.
Home Depot: No mentions found.
Intel: No mentions found.
IBM: Barron's p44 "Speaking of dividends" by Shirley A. Lazo says IBM on Tues added another $15 bil to its stock buyback program. It has paid consecutive quarterly cash dividends since 1916.
Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
JPMorgan: IBD pA2 "JPMorgan: Gov't probe widens" says the Dept. fo Justice and others are investigating JPMorgan's hiring practices in Hong Kong.
IBD pA1 "Citi, JPMorgan under scrutiny" says banks, including JPMorgan' are in a grrowing global inquiry re: manipulation of the global currencies market.
Barron's p23 "Discover the company behidn the card" by Jack Hough says Discover was formed in '85 by Sears and grew by offering lower fees than Visa and Mastercard to merchants. Last year credit card balances grew slowly at American Express and shrank at JPMorgan, Bank of America & Citigroup.
Johnson & Johnson: Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
McDonald's: Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Merck: WSJ pB3 "Merck says clinical trials indicate promise for experimental HPV vaccine" by Peter Loftus says a vaccine named V503 got good results and could lead to market launch next year.
Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Microsoft: WSJ pB5 "Tech wars erupt again" by Ashby Jones says a jv owned by Apple, Microsoft, BlackBerry, Ericcsson & Sony sued a group including Google, Samsung, LG, HTC & Huawei re: patent infringements re: smartphone designs & features.
Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Nike: Barron's pM13 "Research Reports" edited by Paul Farrell says a report by Morgan Stanley on Nike was issued on 10/29 with an "overweight" while it was trading at $75.91 & gives it an $85 price target.
Pfizer: No mentions found.
Procter & Gamble: NYT pB6 "Brands align with a mustachioed month" by Andrew Adam Newman says November targets men's health issues to raise money so Procter & Gamble's Gillette is promoting growing mustaches.
Barron's p39 "Why three big stocks look like bargains" by Lawrence C. Strauss, says Donald A. Yackman, Pres. of his asset management firm likes Procter & Gamble and Coke because risk wise they are like undervalued AAA bonds, profitable, with slow unit growth and a nice dividend
3M: No mentions found.
Travelers: No mentions found.
United Technologies: No mentions found.
UnitedHealth: No mentions found.
Verizon: Barron's p41 "CEO spotlight Lowell McAdam, Verizon Communications" by Dyan Machan, Barron's p31 "A star is born: T-Mobile takes the stage" by Tiernan Ray say AT&T is about a year, and Sprint and T-Mobile US, two years behind Verizon's 4th generation LTE or Long Term Evolution network.
Walmart: Barron's p34" Good things come to . . ." by Reshma Kapadia is an interview with Don Kilbride, Portfolio Mgr with Vanguard Dividend Growth Fund whose top ten holdings include the following 6 Dow firms in order of size of portfolio: McDonald's (3%), Microsoft, Walmart, IBM, Merck, and Johnson & Johnson at 2.4%.
Friday's Closing Dow Numbers:
| Symbol | Last Sale | Change | % Change | Share Volume | Market |
| T | | NYSE | |||
| AXP | | NYSE | |||
| BA | | NYSE | |||
| CAT | | NYSE | |||
| CVX | | NYSE | |||
| CSCO | | NASDAQ-GS | |||
| KO | | NYSE | |||
| DIS | | NYSE | |||
| DD | | NYSE | |||
| XOM | | NYSE | |||
| GE | | NYSE | |||
| GS | | NYSE | |||
| HD | | NYSE | |||
| INTC | | NASDAQ-GS | |||
| IBM | | NYSE | |||
| JPM | | NYSE | |||
| JNJ | | NYSE | |||
| MCD | | NYSE | |||
| MRK | | NYSE | |||
| MSFT | | NASDAQ-GS | |||
| NKE | | NYSE | |||
| PFE | | NYSE | |||
| PG | | NYSE | |||
| MMM | | NYSE | |||
| TRV | | NYSE |
| UTX | | NYSE | |||
| UNH | | NYSE | |||
| VZ | | DualListed | |||
| V | | NYSE | |||
| WMT | | NYSE |
Here are the current CEOs of the Dow 30 Companies:
AT&T T Randall L. Stephenson (Dallas, TX)
American Express AXP Kenneth I. Chenault (NY, NY)
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)
Goldman Sachs GS Lloyd Blankfein (NY, NY)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Brian Krzanich (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 Frazier (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Nike NK Mark Parker (Beaverton, OR)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG A. G. Lafley (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)
Visa V Charles W. Scharf (Foster City, CA)
Wal-Mart WMT Mike Duke (Bentonville, ARK)
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Here are the Dow Jones Industrial Average 30 as of 10/22/13 ranked in order of market capitalization in billions:
1. Exxon Mobil XOM $385.89
2. Microsoft MSFT 288.72
3. GE 263.93
4. Johnson & Johnson JNJ 260.16
5. WalMart WMT 248.42
6. Chevron CVX 232.13
7. Procter & Gamble PG 220.14
8 .JPMorgan Chase JPM 203.50
9. Pfizer PFE 202.80
10. IBM 190.30
11. AT&T T 187.24
12. Coke KO 172.91
13. Verizon VZ 146.65
14. Merck MRK 136.30
15. Visa V 129.10
16. Disney DIS 123.19
17. Cisco CSCO 121.12
18. Intel INTC 119.97
19. Home Depot HD 107.05
20.United Technologies UTX 97.12
21. McDonald's MCD 95.28
22. Boeing BA 92.12
23. American Express AXP 86.85
24. 3M MMM 84.69
25. Goldman Sachs GS 72.91
26. UnitedHealth UNH 70.50
27.Nike NKE 67.43
28.Caterpillar CAT 57.45
29. DuPont DD 55.40
30. Travelers TRV 32.27
****************************************
Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 10/22/13:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments
AT&T T: 10/21/13 8K re: contract to sell/lease 9,700 towers to Crown Castle Int'l for $4.85 bil
9/27/13 8K re: increase of # of directors from 13 to 14 & election of Beth E. Mooney to Board
9/10/13 8K re: purchase of spectrum from Verizon
8/28/13 8K re: redemption of 6.62% debentures due 10/15/34
8/2/13 10Q & 7/24/13 8K & 7/23/13 8K re: results for quarter ended 6/30/13
7/25/13 8K re: retirement from Board of Dr. Gilbert F. Amelia
7/12/13 8K re: AT&T agreeing to buy Leap Wireless
American Express AXP: 10/16/13 8K re: 3Q results
10/15/13 8K re: delinq. & write-off stats for qtr ended 9/30/13
9/25/13 8K re: creation of a jv with Certares for business travel unit
9/16/13 8K re: delinq. & write off stats for 3 months ended 8/31/13
8/15/13 8K re: delinq. & write-off stats for 3 mos. ended 7/31/13
7/29/13 10Q & 7/17/13 8K re: 2Q results ended 6/30/13
7/25/13 8K re: amdmt to sr. Exec. Severance Plan
7/15/13 8K re: delinq. & write-off statgs for 3 mos. ended 6/30/13
Boeing BA: 7/24/13 10Q & 8K re: results for qtr. ended 6/30/13
5/3/13 8K re: issuance of floating rate senior notes due '14
4/30/13 8K re: voting results of 4/29 shareholders meeting held 4/29
4/24/13 10Q & 4/24/13 8K re: 1 Qtr. ended 3/31 results
4/22/13, 4/16 & 3/15/13 Proxy materials re: 4/29/13 annual mtg of shareholders at Field Museum, Chicago
Caterpillar CAT: 10/22/13 8K re: retail sales of machinery
10/9/13 8K re: amendment to bylaws re: majority voting for uncontested election of directors
9/30/13 8K re: price increases
9/20/13 8K re: 3 month dealer stats for period ended 8/13
9/17/13 8K re: credit agrmt up to $3 bil led by Citibank
8/20/13 8K re: dealer stats for July '13
8/2/13 10Q & 7/24/13 8K re: 2Q ended 6/30/13 results
7/23/13 8K re: June '13 dealer stats
Chevron CVX: 10/9/13 8K re: interim update for 3Q
8/7/13 10Q & 8/2/13 8K re: 2Q ended 6/30/13 results
7/10/13 8K re: 2Q interim update
6/24/13 8K re: issuance of notes
6/4/13 8K re: approval by stockholders of Long Term Incentive Plan
Cisco CSCO: 9/30/13 Proxy Materials re: annual shareholder meeting 11/19 at Cisco in San Jose, CA
9/10/13 10K for fiscal year ended 7/27/13
8/15/13 8K re: firing of 4,000 employees
8/14/13 8K re: FY '13 & 4Q results
Coke KO: 10/15/13 8K re: 3Q results
7/25/13 10Q & 7/16/13 8K 2Q ended 6/28/13 results
7/19/13 8K re: election of Ana Botin to Board
Disney DIS: 10/8/13 8K re: amendment to bylaws to eliminate paper share certificates
10/2/13 8K re: new employment contract for Alan N. Braverman EVP, GC & Sec'y for annual salary of $1.4 mil
8/6/13 10Q & 8/6/13 8K re: 3Q ended 6/29/13 results
7/1/13 8K re: extension of CEO Robert A. Iger's employment contract to 6/30/16
DuPont DD: 10/22/13 & 8K re: results for qtr ended 9/30/13
9/3/13 8K re: election of Patrick J. Ward to Board of Dires.
8/13/13 8K re: adoption of Sr. Exec. Severance Plan
7/23/13 10Q & 8K re: 2Q ended 6/31/13 results
ExxonMobil XOM: 8/6/13 10Q & 8/1/13 8K re: 2Q ended 6/30/13 results
6/3/13 8K re: voting results of 5/29/13 Annual Meeting of Shareholders
5/13/13; 5/10; 4/12 Proxy materials
5/2/13 10Q & 4/25/13 8K re: 1 Qtr. ended 3/31 results
GE: 10/18/13 8K re: 3Q results
10/16/13 8K re: exercise by Berkshire Hathaway of warrants for 10.7 mil shares
9/13/13 8K re: election of James E. Rohr to Board of Dires.
7/26/13 10Q & 7/19/13 8K re: 2Q ended 6/30/13 results
6/14/13 8K re: election of Keith S. Sherlin, CEO GE Capital
Goldman Sachs GS: 10/21/13 8K re: retirement of J. Michael Evans as Vice Chair/Head of Growth Markets
10/17/13 8K re: 3Q results
10/1/13 8K re: exercise by Berkshire Hathaway of warrants for 13,062,594 shares
8/8/13 10Q & 7/16 8K re: qr. ended 6/30/13
7/19/13 8K re: opinion of counsel re: $2.5 bil Notes due '18
Home Depot HD: 9/20/13 8K re: election of Helena B. Boulkes to Board of Dirs.
9/10/13 8K re: closing of sale of $3.25 bil notes
8/28/13 10Q re: qtr. ended8/4/13
8/20/13 8K re: 2Q results
Intel INTC: 10/15/13 2 8Ks re: results for qtr ended 9/28/13
7/29/13 & 7/18/13 & 7/17/13 8K re: results for qtr ended 6/29/13
5/21/13 8K re: Brian M. Krzanich became CEO on 5/16
5/8/13 Proxy materials
5/2/13 8K re: election of Brian M. Krzanich as CEO Z& Renee J. James as pres. effective 5/16
IBM: 10/17/13 8K & 10/16/13 8K re: results for 3Q ended 9/30/13
9/10/13 8K re: sale of outsourcing services business to SYNNEX
7/31/13 8K re: underwriting contracts for notes5/6/13 8K re: issuance of notes
7/31/13 10Q & 7/18/13 8K & 7/17/13 8K re: 2Q ended 6/30/13 results
JPMorganChase JPM: 10/16/13 8K re: settlement w/CFTC by payment of $100 mil fine
10/11/13 8K re: sale of Sr. Medium Term Notes of an indeterminate amount
10/14/13 & 10/11/13 8Ks re: 3Q results
9/20/13 8K re: election of Linda B. Bammann to Board of Dirs. & amdmt to bylaws
9/19/13 8K re: consent decrees with Comptroller of Currency and Consuemr Fin'l Protection Bd. re:
credit card allegations
9/19/13 8K re: consent decrees with SEC & UK FCA & payment of $920 mil re: London Whale loss
9/10/13 8K re: fin'l services investor conf.presentation
8/21/13 8K re: closing of sale of $750 mil of 5.62% sub. notes due '43
8/21/13 8K re: sale of subordinated Notes
8/7/13 10Q re: 6/30/13 results
8/1/13 8K re: redemption of Non0cumulative Pref. Stock, Series J
Johnson & Johnson JNJ: 10/15/13 8K re: election of ex0FDA Commissioner Mark B. McClellan as director
10/15/13 8K re: 3Q results ended 9/29/13
8/20/13 8K re: closing of purchase of Aragon Pharmaceuticals, Inc.
8/1/13 10Q & 7/16/13 8K re: 2Q ended 6/30/13 results
6/20/13 8K re: agreement to buy Aragon Pharmaceuticals, Inc. for its late state prostate drugs
McDonald's MCD: 10/21/13 8K re: 3Q results
9/18/13 8K re: declaration of quarterly dividend
9/10/13 8K re: Aug. '13 sales
7/31/13 10Q & 7/22/13 8K re: 2Q ended 6/30/13 results
7/19/13 8K re: dividend of 77 cents pe share payable 9/17/13 to record holders on 9/3/13
6/10/13 8K re: Reg. FD disclosure re: Investor Release
Merck MRK: 10/1/13 8K re: global restructuring program and lay-offs of 8,500 employees
8/7/13 10Q & 7/30/13 8K re: results as of 6/30/13
5/30/13 8K re: voting results of 5/28/13 Annual Meeting of Shareholders
5/22/13 8K re: accelerated stock repurchase agreement with Goldman Sachs
5/20/13 8K re: issuance of $6 bil of notes
Microsoft MSFT: 10/8/13; 10/7/13 & 10/3/13 Proxy Materials re: annual shareholders meeting on 11/19 in Bellevue, Washington
9/26/13 8K re: adoption of Senior Exec. Severance Benefit Plan
9/26/13 8K re: realignment to become a devices & services company
9/23/13 8K re: amendment of exec comp. plans
9/20/13 8K re: realignment of structure to become a devices & service company
9/3/13 8K re: purchase of Nokia handset business
8/30/13 8K re: election of G. Mason Morfit to Board of Dires.
8/23/13 8K re: retirement of CEO Steven A.Ballmer within 12 months
7/30/13 10K & 7/18/13 8K re: results for year ended 6/30/13
7/11/13 8K re: resignation of Pres. of Office Div. Kurt DelBene
7/3/13 8K re: retirement of Steve Sinofsky from Windows Div.
Nike NKE: 10/7/13 10Q, 9/30/13 8K & 9/26/13 8K re: results for qtr ended 8/31/13
9/24/13 8K re: voting results of annual meeting of shareholders on 9/19/13
7/30/13 Proxy for 9/19/13 AnnualMeeting of Shareholders
7/23/13 10K for year ended 5/31/13
Pfizer PFE: 9/30/13 8K re: election of Shantanu Narayen, Pres. & CEO of Adobe Systems to Board of Directors
8/9/13 10Q & 7/30/13 8K re; 2Q ended 6/30/13 results
6/3/13 8K re: issuance of $4 bil of notes
Procter & Gamble PG: 10/11/13 8K re: voting results of annual shareholders meeting 10/8/13
10/8/13 8K re: declaration of quarterly dividends
9/16/13 8K re: changes to global Business Unit Structure & Segment earnings
9/4/13 8K re: presentation at Barclays Back to School Conference
8/23/13 8K re: Proxy for Annual Meeting of Shareholders on 10/8/13 in Cincinnati
8/15/13 8K re: sale of Floating Rate Notes due '63
Pre-14A Proxy re: Annual Meeting of Shareholders on 10/8/13 at Aronoff Center in Cincinnati
7/9/13 8K re: declaration of dividend of $0.6015 on Common & Conv. Call A Pref. payable 8/15 to 7/19 record holders
3M MMM: 8/27/13 8K re: $150 mil credit agreement with HSBC Bank
8/13/13 8K re: election to Board of Thomas K. Brown increase from 11 to 12
8/1/13 10Q & 7/25/13 8K re: 2Q ended 6/30/13 results
5/16/13 8K re: amendment to Annual Report re: realignment of business groups and certain accounting revisions
5/15/13 8K re: voting results of 5/14 stockholders meeting
5/7/13 Proxy materials
5/2/13 10Q & 4/25/13 8K re: 1 Qtr ended 3/31 results
Travelers TRV: 10/22/13 10Q & 10/22/13 8K re: results for qtr ended 9/30/13
8/1/13 8K re: underwriting contracts re: issuance of 4.6% Sr. Notes due '43
7/23/13 10Q & 8K re: 2Q ended 6/30/13 results
6/12/13 8K re: $1 bil revolving bank credit agreement
6/10/13 8K re: purchase of Dominion of Canada General Insurance for $1.1 bil
5/24/13 8K re: voting results of 5/22/13 Annual shareholders meeting
United Technologies UTX: 10/22/13 8K re: 3Q results
9/26/13 8K re: formation of UTC Building & Industrial Services by combining Otis Elevator & UTC Climate, Controls & Security to be headed by Geraud Darnis as Pres/CEO
9/6/13 8K re: new Pres. at Pratt & Whitney: Paul Adams succeeds David Hess
8/28/13 8K re: redemption of Goodrich 3.6% notes due '21
7/26/13 10Q & 7/23/13 8K re: 2Q ended 6/30/13 results
6/18/13 8K re: Ohio Fed. Ct. awarding $473 mil to U.S. re: False Claims Act re: overcharging by Pratt & Whitney on F100's
5/24/13 8K re: redemption of $1 bil 1.2% notes due 6/1/13
UnitedHealth Group UNH: 10/17/13 8K re: 3Q results
9/9/13 8K re: investor presentation at Morgan Stanley Global Health Care conf.
8/5/13 10Q & 7/18/13 8K re: 2Q ended 6/30/13 results
6/6/13 8K re: Voting results of 6/3/13 Annual Shareholders Mtg
5/29/13 8K re: Reg FD disclosure re: Bernstein 29th Annual Strategic Decisions Conference
5/6/13 10Q & 4/18/13 8K re: 1 Qtr ended 3/31 results
Verizon Communications Inc. VZ: 10/17/13 8K re: 3Q results
10/8/13 Proxy; 10/8/13 S-8 & 10/3/13 8K re: approval by shareholders to buy Vodafone's 45% interest in Verizon Wireless, registration of shares to be issued to Vodafone, & $12 bil credit facility to fund the purchase
9/16/13 8K re: saleof $49 bil of notes
9/5/13 8K re: election of Gregory D. Wasson to Board of Dires.
9/5/13 8K re: election of Kathyrn A. Tesija to Board of Dirs.
9/3/13 8K re: purchase of Vodafone's indirect 45% interest in Verizon Wirelss
7/25/13 10Q & 7/18/13 8K re: results for qtr ended 6/30/13
6/10/13 8K re: election of Anthony T. Skiadas, 44, Sr. VP & Controller
5/13/13 8K re: distribution of $7 bil to Wireless Comm and Vodafone by Verizon Wireless
5/7/13 8K re: voting results of 5/2 annual mtg of shareholders
Visa V: 9/17/13 8K & 9/12/13 8K & 7/26/13 8K re: adoption of exec pre-arranged trading plans for execs: William Sheedy, Byron H.Pollitt, Jr. & Elizabeth Buse
7/24/13 10Q for quarter ended6/30/13
WalMart WMT: 10/21/13 10Q for quarter ended 7/31/13
10/1/13 8K re: issuance of 1.95% Notes due 2018
8/15/13 9/5/13 10Q for qtr. ended 7/31/13
8K re: 2Q ended 7/31/13 results
6/7/13 10Q & 5/16/13 8K re: Qtr. ended 4/30
6/2/13 8K re: Voting results of 6/7 Annual shareholder meeting
THIS IS THE END END END
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