Monday, October 6, 2014

10/6/14 Mon. pm Dow Closes at 16991.91 down 17.78 or 0.10%


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

Post No. 2,874 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.

The Dow Jones Industrial Average closed  Monday at 16991.91 down 17.78 or 0.10%  from Friday's close of 17009.69. Of the Dow components  12 gained, Microsoft was unchanged  and  17 declined.  The biggest gainer   dollar-wise was  Caterpillar up 61 cents and percentage-wise was Coke up 1.4%. The biggest decliner   dollar-wise was Nike down $1.07 and percentage-wise were Nike and Cisco both down 1.19 %.

As of the open of  the market on Monday the current divisor for the Dow Jones Industrial Average found at page C6 of  Monday's Wall St. Journal is 0.15571590501117.  Monday's trailing P/E   ratio is 15.90 unchanged  from Friday's   trailing P/E ratio of 15.90  (last year it was 15.52).  Monday's P/E estimate is 14.93 down from Friday's P/E estimate of 15.06 (year ago it was 13.99) and Monday's dividend yield is 2.24 down from  Friday's dividend yield of 2.25  (last year it was 2.18). 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.

Monday's Dow Jones Industrial Average numerator is 2645.91 down 2.76 from  Friday's   numerator of 2648.68.  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 $88.20  down 9 cents from Friday's  average closing price of $88.29.  The median closing price of  Monday's Dow Jones Industrial Average was $87.80  (AXP/DIS) down 1 cent from Friday's median closing price of $87.81 (AXP/DIS). The lowest volume was  Travelers and the highest volume was Microsoft.

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 lost  $276 ($264,868 - $264,591).

10/6/14 Mon. 4:30 MarketWatch by Anora Mahmudova & Carla Mozee says the U.S. stock market ended a choppy Monday trading session lower as investors appeared to book profits after last week’s rally. Small-cap and tech stocks led trading declines.The Russell 2000 RUT, -0.91%  fell 10.10 points, or 0.9%, to 1,094.65 while the Nasdaq Composite COMP, -0.47%  lost 20.82 points, or 0.5%, to 4,454.80. The S&P 500 SPX, -0.16%  closed 3.1 points, or 0.2%, lower at 1,964.82 as the Dow Jones Industrial Average DJIA, -0.10%  fell 17.72 points, or 0.1%, to 16,991.97. In the absence of economic and corporate news, stock prices gyrated as indexes hovered near key technical levels. The S&P 500 fell below its 50-day moving average last week and has struggled to move above that threshold. Sam Stovall, equity strategist at S&P Capital IQ, attributed weakness in stock prices to cautious investing (meaning investors aren’t inclined to take strong directional bets) ahead of earnings season.Stovall added that people are saying, ‘We’re probably due for some sort of pullback,’” and chart watchers have noticed the S&P 500 has been making lower highs in the last two weeks.Stocks on the move: Hewlett-Packard HPQ, +4.74%  shares climbed 4.7% as the company said it plans to split into two, separating businesses: personal-computer and printer businesses from its corporate hardware and services operations. Medical technology company Becton, Dickinson BDX, +7.89%  has reached a deal to buy CareFusion CFN, +22.92%  for $12.2 billion in cash and stock. CareFusion shares rallied 23%. Tesla Motors TSLA, +2.12%  is set to unveil its Model 3 mass-market car and new versions of its Model S sedan at an event on Thursday, according to Global Equities Research analyst Trip Chowdhry. Tesla shares were up 2.1%. H&R Block HRB, -5.53%  shares fell 5.5% after the tax services company said regulatory approval for the sale of H&R Block Bank won’t be completed in the current year. Sunesis Pharmaceuticals SNSS, -78.01%   sank 78% after the company said a late-stage trial of a cancer treatment failed to meet its primary goals.
Other markets: The dollar DXY, -1.08%  pulled back against major rivals after Friday’s climb. Japan’s Nikkei Average NIK, +1.16% and Hong Kong’s Hang Seng Index HSI, +1.09%  each rose more than 1%, and European stocks SXXP, +0.24%  closed higher. Falling dollar propped up commodity prices. Oil futures CLX4, +0.82%  settled higher, while gold prices GCZ4, +1.23% rallied $14 an ounce, and settled above 1,200 an ounce. Gold on Friday turned negative for the year.

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 unch 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's, Investor's Business Daily,  Wall Street Journal, Financial Times, 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 Friday's  closing   stock prices and related data in alphabetical order.

The Dow Jones Industrial Average: The Dow Jones Industrial Average closed  Friday at 17009.69 up 208.64 or 1.24%  from Thursday's close of 16801.05.  For the week the Dow was down 103.46 or  0.06% from last Friday's close of 17113.15. For the year the Dow is up 2.6%. Of the Dow components  29 gained and  only Caterpillar declined.  The only and therefore the biggest gainer   dollar-wise was  and percentage-wise was Caterpillar down 2 cents or .02%. The biggest decliner   dollar-wise and percentage-wise was Goldman Sachs down $5.19 or 2.84 %.

IBD pB8 "Stock indexes post nice gains, but 50 day lines may pose test" by Paul Witfield says stocks popped higher fri as the major indexes built a small cushion above their recent low as Friday's action was up in lower vol & the current outlook is market in correction.


Friday's Dow Jones Industrial Average numerator is 2648.68  up 32.49 from  Thursday's   numerator of 2616.19.  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 $88.29  down $108 from Thursday's  average closing price of $87.21.  The median closing price of  Friday's Dow Jones Industrial Average was $87.81  (AXP/DIS) up $1.58 from Thursday's median closing price of $86.23 (AXP/DIS). The lowest volume was  United Technologies  and the highest volume was Microsoft.

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  $3,249 ($261,619 - $264,868).

10/3/14 Fri. 4:32 MarketWatch by Anora Mahmudova & Sara Sjolin says the S&P 500 enjoyed its biggest one-day gain in nearly two months, while the Dow Jones Industrial Average tallied its biggest gain in seven months, thanks in large part to a stronger-than-expected jobs report that delivered a dose of confidence to investors. The jobs report was not only robust, it was also the sort of Goldilocks data message the markets craved—strong headline numbers along with a dose of wage-growth stagnation. The jobs report offered markets the view that U.S. economic growth will continue but no so vigorously as to raise the inflation antenna of Federal Reserve, forcing them to raise rates abruptly. Friday’s also helped put a dent in weekly losses, but the main benchmarks still finished the week modestly lower. Marking the second weekly decline in a row for major indexes.On Friday. the S&P 500 SPX, +1.12% rose 21.73 points, or 1.1%, to 1,967.90, with health care and financials stocks leading the broad-based gains. The Dow Jones Industrial Average DJIA, +1.24%  gained 220 points, or 1.2%, to 17,009.69. The Nasdaq Composite COMP, +1.03%  added 45.43points, or 1%, to 4,4755.62.Mike Arone, chief investment strategist at State Street Global Advisors’ U.S. Intermediary Business, stressed that not only the headline number of the jobs report was good, but underlying components showed strength, referring to substantial upward revisions for July and August.“The fact that the wage growth remains tame and inflation below target, bodes well for the markets as the Fed won't be pressured to raise rates sooner. It appears that markets are finally in a cycle where good news is good news,” Arone said.Data: The U.S. economy added 248,000 jobs in September and hiring in August turned out to be a lot stronger than forecasts, showing the U.S. economy entered the fall with rising momentum. The unemployment rate fell to 5.9%, falling below 6% mark for the first time since 2008. The U.S. trade deficit fell 0.5% to $40.1 billion in August, representing the lowest level since January as the nation exported a record amount of petroleum and imported less. U.S. services and other non-manufacturing companies reported slower growth for September, after hitting its highest level since 2008 in August, according to a survey of senior executives released Friday. Movers: Mylan Inc. MYL, +8.02%  shares rallied 8% after the pharmaceutical company raised its third-quarter and full-year earnings guidance. Tekmira Pharmaceuticals Corp. TKMR, -0.44%  shares jumped 16%, as the widening breadth of Ebola cases in the U.S. brightened the company’s outlook. Tekmira is one of a handful of biotech companies working on treatments for the Ebola virus. In commodities-related shares, plunging gold prices put pressure on miners, while energy groups suffered from falling oil prices. Oil and mining stocks were among the worst performers on the S&P 500 on Friday. Diamond Offshore Drilling DO, -5.25% fell 5.3%, Newmont Mining Corporation NEM, -2.49% was down 2.5%. Other markets: Asian markets closed mostly in positive territory, and European markets rebounded after a sharp selloff on Thursday. The dollar rose against rivals after the jobs report, recovering after a sharp slide over the past two sessions. Oil futures fell, while gold prices GCZ4, -1.95%  slumped Friday in the wake of an upbeat jobs report, turning negative for the year and briefly trading below $1,200 an ounce.

Monday's Dow News followed by Friday's Closing Dow Numbers:

AT&T: 

American Express:  No mentions found.

Boeing:  No mentions found.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  No mentions found.

Coke:  IBD pB11 "Monster gets newly energized" by Matthew Galgani says Coke will pay Monster $2.15 bil for a 17% stake.

Disney:  No mentions found.

DuPont:  No mentions found.

Exxon:  No mentions found.

GE:  No mentions found.

Goldman Sachs:  No mentions found.

Home Depot:  No mentions found.

Intel:  No mentions found.

IBM:  No mentions found.

JPMorgan: 

Johnson & Johnson:  No mentions found.

MacDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:

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:  No mentions found.

Verizon:  

Visa:  No mentions found.

Walmart:  No mentions found.

Friday'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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