Wednesday, October 1, 2014

10/1/14 Wed. am Johnson & Johnson to Buy Alios for $1.75 Bil


http://www.dowjonesmonitor.com/
by Dan Kolber

Post No. 2,855 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  Wednesday's Wall Street Journal, Financial Times, Investor's Business Daily, York Times, USA Today, Atlanta Journal & Constitution & Daily Report (Ga. - carries Bloomberg)  yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by a separate table of Dow component's symbol and Monday's  closing   stock prices and related data in alphabetical order.

The Dow Jones Industrial Average: The Dow Jones Industrial Average closed  Tuesday at 17042.90 down 28.32 or 0.17%  from Monday's close of 17071.22. For the year the Dow is up 2.81%. Of the Dow components  13 gained and 17  declined.  The biggest gainer   dollar-wise was  and percentage-wise was Visa up $2.44 or 1.16%. The biggest decliner   dollar-wise and percentage-wise was McDonald's down $1.41 or 1.47%.

WSJ pC4 "Stocks end 3rd quarter by falling" by Saumya Vaishampayan says declines were more pronounced in smaller firm stocks.

NYT pB10 "Market ends the month with a whimper"  & AJC pA13 "Stormy month has quiet end" by AP says a stormy month on Wall Street came to a quiet end Tues.

IBD pB5 "Stocks, indexes fall mildly" by Juan Carlos Arancibia says Tuesday's action saw indexes fall modestly in higher vol as the curren t outlook is uptrend under pressure.

FT p21 "Wall street" by Mamta Badkar says the Dow was down 2%.

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 0.15571590501117.  Wednesday's trailing P/E   ratio is 16.15  up  from yesterday's   trailing P/E ratio of 16.1  (last year it was 15.64).  Today's P/E estimate is 15.06 unchanged from Tuesday's P/E estimate of 15.06 (year ago it was 14.39) and today's dividend yield is 2.21 up from  yesterday's dividend yield of 2.20  (last year it was 2.15). 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.

Tuesday's Dow Jones Industrial Average numerator is 2653.85 down 4.41 from  Monday's   numerator of 2658.26.  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  Tuesday's Dow Jones Industrial Average was $88.46 down 15 cents from Monday's  average closing price of $88.61.  The median closing price of  Tuesday's Dow Jones Industrial Average was $86.90  (UNH/AXP) down 33  cents from Monday's median closing price of $87.23 (UNH/AXP). The lowest volume was  Travelers  and the highest volume was GE.

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 lost  $441  ($265,826 - $265,385).

9/30/14 Tues. 4:25 MarketWatch by Anora Mahmudova & Carla Mozee says U.S. stocks finished Tuesday’s choppy trading session lower as investors found little solace in mixed bag of economic reports on housing, manufacturing and consumer confidence. Tuesday marked the end of the month and the third quarter, and investors struggled to find their footing as a mix of economic data during the trading day appeared to offer no clear direction for stocks. The S&P 500 dropped of 1.6% in September, while eking out a gain of 0.6% for the quarter, the seventh consecutive quarterly gain. In Tuesday action, the S&P 500 SPX, -0.28%  closed down 5.5 points, or 0.3%, at 1,972.29. The Dow Jones Industrial Average DJIA, -0.17%  dropped 28.23 points, or 0.2%, to 17,042.90. The Nasdaq Composite COMP, -0.28%  lost 12.46 points, or 0.3%, to 4,493.39.Karyn Cavanaugh, senior market strategist at Voya Investment Management, pointed out that while headline numbers on Tuesday’s economic reports were weaker than expected, the data still revealed a healthy economy. Economic data: Annual home price growth slowed in July to the slowest pace since late 2012, according to the S&P/Case-Shiller home-price index. The Chicago PMI slowed to a still-strong reading in September, with inventories rising at the highest pace in 41 years. The consumer confidence index, meanwhile, fell sharply in September for its first decline in five months.
Investors also are looking across the Atlantic, where eurozone inflation hit a five-year low in September, and German jobless data disappointed, both which arguably could add pressure to the European Central Bank to launch full-scale quantitative easing soon. The ECB meets on Thursday, but economists widely expect the bank to hold back on more aggressive policy measures for now and instead provide details on its program for purchasing asset-backed securities, which was announced at the September meeting. The Thursday ECB meeting will be one of the week’s more closely watched events. The other is Friday’s monthly jobs report, where economists want to see strong, but not overly strong, jobs growth.Stocks to watch: Move MOVE, +37.08%  leapt 37% after News Corp. NWSA, -2.68% NWS, -2.24%  said it would buy the online real-estate business in an all-cash deal for $21 a share. News Corp. owns MarketWatch, the publisher of this report.EBay EBAY, +7.54%   shares jumped 7.5% after the firm announced plans to spin off its payments arm PayPal in a transaction expected to be completed in the second half of 2015.Ford F, -2.12%  shares were under pressure, falling 2.1% after cutting its full-year earnings outlook on expectations it will lose $1.2 billion in Europe this year. Supervalu SVU, -2.08%  shares fell 2.1% after it found more data-capturing malware at stores on Monday.Catalyst Pharmaceutical Partners CPRX, +11.04%  rose 11% after the biotech said late Monday a late-stage study showed its Firdapse treatment benefited sufferers of an autoimmune disorder that causes muscle weakness. Read more about the day’s notable stocks in Movers & Shakers.Other markets: Hong Kong’s Hang Seng Index HSI, -1.28%  fell 1.3% as pro-democracy protests continued, though many worried about a possible crackdown. Europe stocks SXXP, +0.61% finished higher on the heels of downbeat data. The euro EURUSD, -0.45%  pushed lower against the dollar after eurozone inflation data.

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

AT&T:  IbD pA2 "AT&T sees car service growth" says AT&T will provide wireless data service to 10 mil vehicles by '17 up from 2 mil now.

American Express:  No mentions found.

Boeing:  No mentions found.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  No mentions found.

Coke:  No mentions found.

Disney:  WSJ pB1 "Curse lifts as Maleficent makes return to Amazon" by Ben fritz, Greg Bensinger says Disney and Amazon.com are making up as Amazon is offering Disney films.

DuPont:  No mentions found.

Exxon:  FT p16 "Russia curbs put exxn's Arctic goals on ice" by Ed Crooks, Jack Farchy says Exxon may not have to invest more in the US oil and gas boom.

FT p12 "Exxon: Rockefeller's rule" says Exxon is spending on expansion.

GE:  IBD pA2 "GE" says GE will provide gas engines to Sky Global Partners' new plant in Tex.

Goldman Sachs:  USAT p1B "Goldman Sachs tapes expose FEed weakness" by Darrell Delamaide says NY Fed Res taped sessions show bank examiners are not too hard on the banks they regulate.

Home Depot:  No mentions found.

Intel:  No mentions found.

IBM:  No mentions found.

JPMorgan:  No mentions found.

Johnson & Johnson:  IBD pA1 "Johnson & Johnson bets $1.75 Billion on Alios buy" by Amy Reeves, WSJ pB5 "Drug firm Alios Biopharma bought for $1.75 mil" by Joseph Walker,  say JNJ is challenging Gilead in the viral disease field by buying Alios BioPharma for cash for its drug candidate for respiratory syncytial virus drug, AL-8176.

  IBD pB12 "Google, Microsoft lead Ireland's expat exporters" by Alan R. Elliott  says Microsoft, Johnson & Johnson & Dell are among Ireland's top exporters.

WSJ pB1 "Doctors net billions from drug firms"  by Peter Loftus says Johnson & Johnson and Pfizer are named as among those firms engaged in paying doctors.

McDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:  IBD pB12 "Google, Microsoft lead Ireland's expat exporters" by Alan R. Elliott  says Microsoft, Johnson & Johnson & Dell are among Ireland's top exporters.

IBD pA2 "Microsoft plans to skip OS 9", WSJ pB2 "Microsoft seeks Windows feedback" by Shira Ovide, USAT p1B "Microsoft opens up a Windows surprise" by Nancy Blair say Microsoft will name its next Windows operating system 10, skipping 9.

Nike:  No mentions found.

Pfizer:  No mentions found.

Procter & Gamble:  No mentions found.

3M:  No mentions found.

Travelers:  No mentions found.

United Technologies:  No mentions found.

UnitedHealth:  IBD pA2 "UnitedHealth", WSJ pB5 "UnitedHealth insurer expands into integrated health care" by Anna Wilde Mathews say UnitedHealth will buy MedSynergies, a Tex firm that provides doctor practice mgmt.

Verizon:  No mentions found.

Visa:  No mentions found.

Walmart:  No mentions found.

Tuesday's Closing Dow Numbers:

SymbolLast SaleChange% ChangeShare VolumeMarket
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) (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

AT&T T:
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

GE:
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

IBM:
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

3M MMM:
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 MAS AMIGOS


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