Thursday, September 25, 2014

9/25/14 Thurs. am Dow Index: U.S. Firms Only
by Dan Kolber

Post No. 2,845 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 a summary of recent Dow 30 components'  SEC filings as of Sept. 24, 2014.

A  read of the print editions of  Thursday's Wall Street Journal,  Financial Times, Investor's Daily Business, 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 Wednesday's  closing   stock prices and related data in alphabetical order.

The Dow Jones Industrial Average: The Dow Jones Industrial Average closed  Wednesday at 17210.06 up 154.19 or 0.90%  from Tuesday's close of 17055.87. For the year the Dow is up 3.82%. Of the Dow components 27  gained and 3 declined.  The biggest gainer   dollar-wise   was Goldman Sachs up $2.72 and percentage-wise was DuPont up 2.52%.  The biggest decliner   dollar-wise and percentage-wise was Chevron down 66 cents or 0.54%.

WSJ pC2 "Dow Index makes it official: US firms only" by Telis Demos David Carlson, director of US and Canadian equity indexes at s&P Dow Jones Indices which oversees the Dow index said their methodology language was formally revised to require member firms to be incorporated and headquartered in the US and the US must be a company's biggest revenue generating country.  For example, Pfizer has recently considered an inversion when it tried to buy UK based AstraZeneca.

WSJ pC4 "Housing helps US stocks stop skid" by Saumya Vaishampayan says US stocks rallied & the S&P and Nasdaq snapped 3 session losing streaks.  Better than expected housing data lent a positive tone but there wasn't any particular news behind the market's broader gains.

IBD pB3 "Bullishness keeps falling as Nasdaq leads rebound" by David Saito-Chung says Wednesday's action saw sharp rebound in mixed vol while the current outlook is uptrend under pressure.

NYT pB6 "Market reverses course in its best day since August" & AJC pA15 "Buyers step in after losses" by AP says US stocks rebounded wed & had their best performance in more than a month due to gains in health care & consumer staples firms.

FT p25 "Wall Street" by Eric Plattt says US equity markets climbed following better than expected new home sales data.

As of the open of  the market on Thursday the current divisor for the Dow Jones Industrial Average found at page C6 of  Thursday's Wall St. Journal is 0.15571590501117.  Thursday's trailing P/E   ratio is 16.16 down  from Wednesday's   trailing P/E ratio of 16.27  (last year it was 15.53).  Thursday's P/E estimate is 15.28 unchanged from Wednesday's P/E estimate of 15.28 (year ago it was 14.25) and Thursday's dividend yield is 2.21 up from  Wednesday's dividend yield of 2.19  (last year it was 2.14). The Dow's all-time high was 17279.74 on September 19,  2014. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Wednesday's Dow Jones Industrial Average numerator is 2679.88 up 14.01 from  Tuesday's   numerator of 2655.87.  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  Wednesday's Dow Jones Industrial Average was $89.33 up 80 cents from Tuesday's  average closing price of $88.53.  The median closing price of  Wednesday's Dow Jones Industrial Average was $88.37  (UNH/AXP) up 92  cents from Tuesday's median closing price of $87.45 (UNH/AXP). The lowest volume was  Travelers and the highest volume was GE.

If  Wednesday 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  $1,401  ($267,988 - $265,587).

9/24/14 Wed. 4:15 MarketWatch by Carla Mozee & Victor Reklaitis says U.S. stocks rallied on Wednesday, with the S&P 500 and Dow Jones Industrial Average recording their best one-day percentage gain in more than 5 weeks. The rebound snapped a 3-day losing streak that has been blamed in part on worries about global growth and fighting in Iraq and Syria.A stronger-than-expected report on new-home sales and dovish comments from two Federal Reserve officials, may have contributed to gains. The S&P 500 SPX, +0.78%  gained 15.63 points, or 0.9%, to 1,998.38. Broad-based gains were led by health care and consumer staples sectors. The Dow Jones Industrial Average DJIA, +0.90%  gained 155.02 points, or 0.9%, to 17,210.89, recovering some of the steep losses from the previous two sessions. Meanwhile, the tech-heavy Nasdaq Composite COMP, +1.03%  added 46.53 points, or 1.03%, to 4,555.22, while the small-cap Russell 2000 RUT, +0.86%   — which has lagged behind the other indexes this month and this year — gained 8.9 points, or 0.8%, to 1,127.60.Trading rebound: Wednesday’s early advance may have been more of a trading rebound than anything else, said Colin Cieszynski, chief market strategist at CMC Markets.
“Economic news flow has been light,” he said in a note, adding that “monetary policy direction (more dovish in Europe, more hawkish in the US) hasn’t really changed.”Today’s key economic news: The Commerce Department said sales of new single-family homes surged 18% in August to a seasonally adjusted annual rate of 504,000, the fastest pace in more than six years. Economists polled by MarketWatch had expected a sales rate of 426,000.Investors welcomed dovish remarks from two Fed officials. The Federal Reserve should be “exceptionally patient” before hiking short-term interest rates - even to the point of allowing a modest overshoot of its inflation target, said Charles Evans, the president of the Chicago Fed. The economy is returning to more normal territory and the Fed is prudently planning for the exit from its zero-rate policy stance, said Loretta Mester, the president of the Cleveland Fed. Movers and shakers: Bed Bath & Beyond BBBY, +7.40%  shares climbed more than 7.4% to lead the S&P 500 after the home-furnishings retailer late Tuesday posted better-than-expected quarterly earnings.KB Home KBH, -5.30%  fell 5.30%, after the home builder reported fiscal third-quarter profit and sales that fell well short of expectations.Other markets: Japan’s Nikkei Average NIK, -0.24% shed 0.2%. Meanwhile, the dollar fell against the yen USDJPY, -0.01%  after Japan’s prime minister said he’s cautious about the yen’s recent weakness. European stocks SXXP, +0.72%   mostly gained after initially wavering following a sluggish reading on German business confidence. Gold futures GCZ4, -0.39%   dipped, and oil futures CLX4, +1.45%  were slightly higher.

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

AT&T:  WSJ pB1 "Comcast blasts critics of merger plan" by Gautham Nagesh, Shalini Ramachandran says a combined Comcast & Time Warner Cable would have 35% of US market share vs AT&T 18% & Verizon 10%.

American Express:  No mentions found.

Boeing:  WSJ pB6 "Airlines seek bigger single aisle jets" by Robert Wall says airlines are urging Boeing & Airbus to consider developing new and larger single aisle jets even after they decided to forgo such projects in favor of upgrades to their existing models.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  No mentions found.

Coke:  No mentions found.

Disney:  WSJ pB8 "Starz is looking for a buyer" by Joe Flint< Keach Hagey says Starz is losing access to theatrical movies from Disney starting with '16 releases.

DuPont:  No mentions found.

Exxon:  No mentions found.

GE:  IBD pB9 "General Electric transforms self" by Ken Hoover says GE is transofmring itself from a largely fin'l firm into an ind'l manufacturer as it spun off its credit card biz under the name Synchrony Financil.

Goldman Sachs:  No mentions found.

Home Depot:  AJC pA13 "Some fraud activity linked to Home Depot breach< WSJ says" by Chris Strohm, Michael Riley, Bloomberg says Home Depots breach of 56 mil cards has had some fraudulent transactions where customers have had all their money drained from bank account.

Intel:NYT pB3 "Silicon Valley's ties to Washington growting, stealthily" by Derek Willis, Claire Cain Miller says Microsoft, Qualcomm and Intel are ranked as the most transparent tech firms by Center for responsive Politics.

IBM:  No mentions found.

JPMorgan:  No mentions found.

Johnson & Johnson:  No mentions found.

McDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:  WSJ pB2 "Bandwidth prices steadier" by Drew Fitzgerald says Google and Microsoft have invested in private lines that bypass public Internet.

NYT pB3 "Silicon Valley's ties to Washington growting, stealthily" by Derek Willis, Claire Cain Miller says Microsoft, Qualcomm and Intel are ranked as the most transparent tech firms by Center for responsive Politics.

Nike:  WSJ pC1 "Nike's all-star roster is costly" by Spencer Jakab says Nike stopped deals with Adrian Peterson, Ray Rice and Oscar Pistorius and will unveil today its 1Q results.

Pfizer: WSJ pC2 "Dow Index makes it official: US firms only" by Telis Demos David Carlson, director of US and Canadian equity indexes at s&P Dow Jones Indices which oversees the Dow index said their methodology language was formally revised to require member firms to be incorporated and headquartered in the US and the US must be a company's biggest revenue generating country.  For example, Pfizer has recently considered an inversion when it tried to buy UK based AstraZeneca.

Procter & Gamble:  IBD pA2 "William Prcoter's candle lit the fuse for P&G" by Claire Mencke profiles William Procter and how he teamed up with James Gamble to produce soap which became Tide.

3M:  No mentions found.

Travelers:  No mentions found.

United Technologies:  No mentions found.

UnitedHealth:  No mentions found.

Verizon:   WSJ pB1 "Comcast blasts critics of merger plan" by Gautham Nagesh, Shalini Ramachandran says a combined Comcast & Time Warner Cable would have 35% of US market share vs AT&T 18% & Verizon 10%.

Visa:  No mentions found.

Walmart:  IBD pA1 "Walmart banks on checking", USAT p1B "Welcome to the bank of Wallmart" by Roger Yu, AJC pA13 "Walmart  begins mobile checking" by AP say Walmart is the latest firm to get rid of fees that banks charge customers who don't have money in their accounts to cover purchases.  Walmart teamed up with Green Dot Corp. to bring mobile checking accounts to its shoppers & won't charge overdraft & bounced check fees.

WSJ pA5 "Ohio plice won't be charged in Walmart shooting" by AP says cops were ok in shooting a man with an air rifle inside a Walmart.

Wednesday's Closing Dow Numbers:

SymbolLast SaleChange% ChangeShare VolumeMarket
VZ▲ DualListed

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) (Craig Menear Takes Over as CEO on 11/1)

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 Satya Nadella (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 Doug McMillon (Bentonville, ARK)
Here are the Dow Jones Industrial Average 30 as of close of business 9/24/14 ranked in order of market capitalization in billions:

1. Exxon Mobil XOM $408.64
2. Microsoft MSFT 387.93
3. Johnson & Johnson JNJ 306.4
4. GE 260.18
5. Wal-Mart WMT 248.39
6.Chevron CVX 232.43
7.  JPMorgan Chase JPM 231.78
8. Procter & Gamble PG 230.8
9.  Verizon VZ 207.55
10.  Pfizer PFE 192.19 
11. Coke KO 185.39
12.  IBM 191.85 58
13. AT&T T 183.
14. Merck MRK 174.12
15.  Intel INTC 172.05
16. Disney DIS 153.54
17. Visa V 134.71
18. Cisco CSCO 127.38
19. Home Depot HD 125.2
20. United Technologies UTX 97.05
21. McDonald's MCD 93.28 
22. 3M MMM 93.88
23. American Express AXP 93.12
24. Boeing BA 92.66 
25. Goldman Sachs GS 85.98
26. UnitedHealth UNH 85.71
27. Nike NKE 70.19
28. DuPont DD 66.66
29. Caterpillar CAT 63.55
30. Travelers TRV 32.14
Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of close of business 9/24/14:
Symbol & Co. Name/Date of Filing/Form Filed/ Comments

8/1/14 10Q & 7/24/14 8K & 7/23/14 8K  re: qtr ended 6/30
7/1/14 S-4 re: purchase of DirecTV

American Express AXP:
9/15/14 8K re: delinq. & write-off stats for 3 months end 8/31/14
8/15/14 8K re: delinq. & write-off stats for 3 months end 7/31/14
7/30/14 10Q & 7/29/14 8K re: qtr. ended 6/30/14
7/15/14 8K re: delinq. & write-off stats for 3 months ended 6/30/14

Boeing BA:
7/23/14 10Q & 7/23/14 8K re: 2Qtr ended 6/30/14

Caterpillar CAT:
9/19/14 8K re: info re: retail sales of OEMs
9/16/14 8K re: credit agreement with Citibank up to $3.15 bil
8/20/14 8K re: rolling 3 month retail sales stats
8/1/14 10Q & 7/24/14 8K re: 2Q ended 6/30/14
7/23/14 8K re: rolling 3 mos. retail sales stats.

Chevron CVX:
8/14/14 8K re: voluntary dismissal of shareholder derivative lawsuit
8/6/14 10Q & 8/1/14 8K & 7/10/14 8K re: 2Q ended 6/30/14

Cisco CSCO:
9/12/14 8K re: departure of director Marc Benioff & reduction of board to 10
9/9/14 10K & 8/13/14 8K re: results for year ended 7/26/14
8/14/14 8K re: restructuring plan & lay-offs of 6,000 or 8% of global workforce
7/31/14 8K re: resignation from BoD of Gregory Q. Brown

Coke KO:
9/22/14 & 9/19/14 8Ks re: close of public offering of long term notes
8/20/14 8K re: purchase of 16.7% state in Monster
7/30/14 10Q & 7/22/14 8K re: qtr ended 6/27/14

Disney DIS:
8/5/14 10Q for quarter ended 6/28/14
8/5/14 & 8/5 8K re: 10Q for 3Qtr ended 6/28/14 

DuPont DD:
8/5/14 8K re: election of Ulf M.  Mark Scheider
7/22/14 10Q & 7/22/14 8K re: qtr ended 6/30/14

ExxonMobil XOM:
8/6/14 10Q & 7/31/14 8K re: 2Qtr ended 6/30/14
8/6/14 8K re: retirement of P.T. Mulva as VP/controller to be replaced by D.S. Rosenthal

7/31/14 10Q & 7/18/14 8K re: qtr ended 6/30/14

Goldman Sachs GS:
8/25/14 8K re: settlement with FHFA re: sale of residential mortgage backed securities to Fannie Mae & Freddie Mac
8/7/14 10Q & 7/15/14 8K re: 2Qtr ended 6/30/14

Home Depot HD:
9/18/14 8K re: update on guidance due to data breach
9/8/14 8K re: breach od payment data systems
8/27/14 10Q & 8/19/14 8K results for quarter ended 8//14
8/21/14 8K re: election of Craig A. Menear as CEO &Pes. and Frank Blake taking on as chairman eff. 11/1/14 & amendment of by-laws to split CEO & Chairman positions

Intel INTC:
7/25/14 10Q & 7/15/14 8K re: qtr. ended 6/28/14

7/29/14 10Q & 7/18/14 8K & 7/17/14 8K re: qtr. ended 6/30/14
7/29/14 8K re: election of CEO of JNJ Alex Gorsky & Peter R. Voser to BoD

JPMorganChase JPM:
9/19/14 8K re: redemption of subord. notes
9/12/14 8K re: cyberattack vs. JPM
9/10/14 8K re: closing of public offering of $3 bil sub. notes due'24
8/4/14 10Q & 7/15/14 8K & 7/15/14 8K re: qtr. ended 6/30/14
7/2/14 8K re: CEO Jamie Dimon having throat cancer
7/1/14 8K re: reduction of warrant exercise price

Johnson & Johnson JNJ:
8/1/14 10Q & 7/15/14 8K re: Qtr ended 6/29/14
7/21/14 8K re: $5 bil share repurchase program

McDonald's MCD:
9/22/14 8K re: raising quarterly div. by 5% to 85 cents payable 12/15 to record holders 12/1
9/9/14 8K re: global sales decreased 3.7% in Aug.
8/27/14 8K re: salary increase of Pres. of Asia, Mid E. & Africa
8/22/14 8K re: election of Make Andres as Pres. - USA replacing Jeff Stratton eff. 10/15
8/11/14 8K re: global sales decreased 2.5% in July
8/4/14 & 7/22/14 & 7/18/14 8K re: qtr. ended 6/30/14

Merck MRK:
9/29/14 8K re: 2Q results

Microsoft MSFT:
9/17/14 8K election of Teri List-Stoll & Charles W. Scharf  (CEO of Visa) to Board eff 10/1 & increase of Board to 12 & retirement from Board of Dave Marquadt & Dina Dublon
8/19/14 8K re: dividend increase to 31 cents up 11% payable 12/111 to holders on 11/20
7/31/14 10K for year ended 6/30/14
7/31/14 8K re: increased BoD to 11 & election of John W. Stanton
7/22/14 8K re: 4Q results
7/17/14 8K re: restruction & related charges

Nike NKE:
9/23/14 8K re: results of annual shareholders meeting
Sec. 14A Proxy re: Annual Meeting of Shareholders to be held 9/18/14 at Tiger Woods Conf. center, Beaverton, Or.
7/25/14 10K for year ended 5/31/14

Pfizer PFE:
8/7/14 10Q for qtr ended 6/29/14
7/29/14 8K re: 2Q results

Procter & Gamble PG:
8/29/14 Proxy re: 10/14/14 Annual Meeting of Shareholders at 9 a.m. at Duke Energy Convention Ctr. Cincinnati,Oh
8/8/14 10K for yr. ended 6/30/14
8/1/14  2 8Ks re: 4Q results
7/8/14 8K re: quarterly div. of 64 cents per share payable 8/15 to record holders of 7/18

8/12/14 8K re: election of Sandra Barbour to Board
8/8/14 8K re: $2.25 bil 5 yr. revolving credit agreement with JPMorgan
7/31/14 10Q & 7/24/14 re: qtr. ended 6/30/14

Travelers TRV:
9/10/14 2 8Ks re: realignment of 2 of 3 business segments
8/11/14 8K re: amendment to bylaws re: timing of shareholder proposals
7/22/14 10Q & 8K re: qtr ended 6/30/14

United Technologies UTX:
7/25/14 10Q & 7/22/14 8K for qtr. ended 6/30/14

UnitedHealth Group UNH:
9/12/14 8K re: FD disclosures re: presentation at Merrill Global Healthcare Conf. London 9/17
9/5/14 8K re: FD disclosure re: presentation at Morgan Stanley Healthcare Conf. NYC 9/9
8/4/14 & 8/1/14 8K & 7/17 8K re: qtr. ended 6/30/14

Verizon Communications Inc. VZ:
9/11/14 8K re: strong customer  growth
9/4/14 8K/A committee Board assignments for Dir. Shellye L. Archambeau
8/20/14 8K re: results of exchange offer of Verizon/Alltel securities
8/6/14 2 8Ks re: terms of exchange offer re: Alltel

Visa V:
9/11/14 8K re: deposit of $450 mil in litigation escrow account
7/24/14 10Q & 7/24/14 8K re: qtr ended 6/30/14
7/23/14 8K re: quarterly div. of 40 cents payable 9/3 to record holders as of 8/15.

WalMart WMT:
9/5/14 10Q & 8/14/14 8K re: results for qtr ended 7/31/14
7/24/14 8K re: election of Greg Foran as Pres/CEO of Walmart USA  to replace Bill Simon


No comments: