Sunday, September 28, 2014

9/28/14 Sun ExxonMobil Strikes Oil in Russian Arctic
by Dan Kolber

Post No. 2,850 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  Monday's Barron's & Investor's Daily Business; the combined Sat/Sun issues of each of the Wall Street Journal & Financial Times; Sunday's & Saturday's New York Times & Atlanta Journal & Constitution  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  closing   stock prices and related data in alphabetical order.

The Dow Jones Industrial Average: The Dow Jones Industrial Average closed  Friday at 1711.15 up 167.35 or 0.99%  from Thursday's close of 16965.80. For the week the Dow is down 166.59 or 0.96% from last Friday's close of 17,279.74. For the year the Dow is up 3.2%. Of the Dow components  26 gained, Johnson & Johnson was unchanged, and 3  declined.  The biggest gainer   dollar-wise and percentage-wise was Nike up $9.75 or 12.23%. The biggest decliner   dollar-wise and percentage-wise was Pfizer down 26 cents or 0.87%.

WSJ pB5 "Stocks end down week on upswing" by Dan Strumpf says stocks rose sharply capping a turbulent week for fin'l markets in which investors grappled with global growth & troubles overseas.

Sat. NYT pB7 "News of Nike's profit lifts the Dow" & Sat. AJC pA10 "Stocks end week with surge" by AP says good economic & corp news boosted the market to a rebound at the end of a turbulent week of trading.

IBD pB8 "Nasdaq, S&P 500 retake 50 day moving averages" by Paul Whitfield says Friday's action was up in lower vol & the current outlook is uptrend under pressure.

As of the open of  the market on Monday the current divisor for the Dow Jones Industrial Average found at page B6 of  Saturday's Wall St. Journal is 0.15571590501117.  Monday's trailing P/E   ratio is 16.03 down  from Friday's   trailing P/E ratio of 16.31  (last year it was 15.51).  Monday's P/E estimate is 15.06 down from Friday's P/E estimate of 15.28 (year ago it was 14.39) and Monday's dividend yield is 2.22 up from  Friday'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.

Friday's Dow Jones Industrial Average numerator is 2664.79 up 22.95 from  Thursday's   numerator of 2641.84.  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 $88.83 up 77 cents from Thursday's  average closing price of $88.06.  The median closing price of  Friday's Dow Jones Industrial Average was $87.34  (UNH/AXP) up 87  cents from Thursday's median closing price of $86.47 (UNH/AXP). The lowest volume was  Visa and the highest volume was Cisco.

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  $2,295  ($264,184 - $266,479).

9/26/14 Fri. 4:43 MarketWatch by Anora Mahmudova & Carla Mozee says
U.S. stocks rebounded on Friday, recovering most of the previous session’s steep losses as Thursday’s rout inspired bargain hunters, with most of Friday’s broad-based gains led by energy and technology names. But notwithstanding Friday’s solid gains, major indexes weren’t able to erase what has otherwise been a tough week for stocks. Most benchmarks finished the week with losses.
The S&P 500 SPX, +0.86%  closed 16.86 points, or 0.9%, higher at 1,982.854, ending the week 1.4% lower. The Dow Jones Industrial Average DJIA, +0.99%  jumped 167.35 points, or 1%, to 17,113.19, but rang up a weekly loss of 1%. The blue-chip index moved more than 100 points in each of the five sessions this week. Nike’s 12% jump on better-than-expected results added 61 points to the Dow industrials.The Nasdaq Composite COMP, +1.02%  gained 45.45 points, or 1%, to 4,512.19 but was 1.5% lower over the week.“September is a difficult month and short-term volatility is normal,” said Kenny Polcari, director of NYSE Floor Operations on behalf of O’Neil Securities, Inc. “We’ve had lots of reason to be nervous this week and as soon as some of the technical support levels were hit we saw [automated algorithms] kick in. Market will now test those resistant levels,” Polcari added.Markets also weighed stunning news that Bill Gross, founder is leaving the firm he founded, to join Janus Capital. The news sent 10-Year Treasury yields higher. Data: Helping to hearten markets was news that the U.S. economy in the second quarter matched its best performance since the recession. But whether an accelerated pace of growth in the year ahead can be sustained is still unclear. The U.S. economy grew at a 4.6% annual pace in the second quarter. The increase in real gross domestic product was revised up from 4.2%, mainly because of higher exports and business investment, the Commerce Department said Friday. The biggest gains came in business investment, a good sign for the economy in the months ahead. Separately, the final September reading on the University of Michigan/Thomson Reuters consumer sentiment index remained steady at the highest level since July 2013 and well above a final August level of 82.5.Stocks to watch: Apple Inc. shares AAPL, +2.94%  rallied 2.9% on Thursday after a nearly 4% drop during the previous session, as the company tried to calm concerns about its new iPhone 6 Plus bending claims. One analysts reiterated his ‘buy’ rating and in a note to clients told investors to ignore the ‘media blitz’. Another tech name, chip maker Micron MU, +6.72%  gained 6.7% after fourth-quarter results topped Wall Street’s estimates late Thursday. Meanwhile, Nike NKE, -0.56% shares jumped 12% after the athletic apparel and gear maker late Thursday posted better-than-expected earnings. Other markets: Overnight, Australia’s S&P/ASX 200 XJO, -1.28%  erased its gains for the year, taking cues from Wall Street’s selloff and a slump in iron-ore prices. European stocks SXXP, +0.25% were higher, but major benchmarks recorded weekly losses. Gold futures GCZ4, -0.20% turned down nearly $3 an ounce while oil futures CLX4, +0.90%  headed slightly higher.

Sunday's & Saturday's Dow News followed by Friday's Closing Dow Numbers:

AT&T: No mentions found.

American Express:No mentions found.

Boeing:  IbD pA2 "Boeing loses nearly $5 bil order" says Germany's Air Berlin in fin'l trouble killed this order for 787 Dreamliner.

IBD pA2 "Boeing" says a 787 from Chiago to Warsaw made an emergency landing in Glagow due to a fire alert but there was no fire.

Caterpillar: No mentions found.

Chevron: IBD pA19 "The stunning tomfoolery of the Rockefeller heirs" by Stephen Moore, Kathleen Hartnett-White says Standard Oil founded by John D. Rockefeller spawned Exxon, Chevron and Mobil.

Cisco: No mentions found.

Coke:No mentions found.

Disney:  IBD pB15 "Hasbro climbs on Disney deal" by Ken Hoover says Hasbro will partner with Disney Consuemr Products to make dollas based on frozen & other Disney Princess stories.

DuPont:No mentions found.

Exxon: IBD pA2 "Exxon said to have struck oil" says exxon & Rosneft struck oil in the Russian Arctic just a week afer it said it would reduce activity there due to sanctions.

GE:No mentions found.

Home Depot: WSJ pB8 "Home Depot customers; protect your accounts" by Robin Sidel is more about the data breach.

Intel:  IBD pA1 "Intel invests in Chinese firm, Sat. AJC pA9 "Intel to invest $1.5 bil in Chinese company" say Intel will invest in Tsinghua Unigroup of China to jointly make chips for mobile devices and will get a 20% stake.

IBM: No mentions found.

JPMorgan: No mentions found.

Johnson & Johnson: No mentions found.

McDonald's:  Sat. AJC pA8 "Fast food slump" by Jessica Wohl, Chicago tribunesays McDonald's has had 3 consecutive months of declines in global sales.

Merck: No mentions found.

Microsoft: No mentions found.

Nike:  Brn's pM2 "Charts Nike", IBD pA2 "Nike slam dunks in new year" says Nike had a 26.7% EPS rise to $1.09 in 1Q and 14.5% rev jump to $7.98 bil topping estimates.

Sat. NYT pB7 "News of Nike's profit lifts the Dow" & Sat. AJC pA10 "Stocks end week with surge" by AP says good economic & corp news boosted the market to a rebound at the end of a turbulent week of trading.

Pfizer: No mentions found.

Procter & Gamble: No mentions found.

3M: No mentions found.

Travelers: No mentions found.

United Technologies: No mentions found.

UnitedHealth: No mentions found.

Verizon: No mentions found.

Visa: No mentions found.

Walmart: No mentions found.

Friday'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


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