Tuesday, January 27, 2015

1/27/15 Tues. am Microsoft's Profits Down: United Technologies Lowers Foecast


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

Post No. 3,021 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.

A  read of the print editions of  Tuesday's , Wall Street Journal,  Financial Times,  Investor's Business Daily, 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 Monday at 17678.70 up 6.1 or 0.03%  from Friday's close of 17672.60. For the year the Dow is down 0.8%. Of the Dow components  17  gained   and 13  declined. The biggest gainer dollar-wise was Chevron up $2.03 and percentage-wise was McDonald's up 1.24%. The biggest decliner dollar-wise   was Visa down $1.76 and percentage-wise was Intel down 1.76%.

WSJ pC1 "Markets take on a blizzard" by Corrie Driebusch, Bradley Hope, Dan Strumpf says wall street braced for a big snowstorm, the market weathered the victory of an antiausterity party in Greece's weekend election.

NYT pB5 "A sluggish morning for the market gives way to a mostly tepid day" by AP says stocks eked out tiny gains on Monday after spending much of the day drifting sideways.  Investors took in stride the lection of a Greek political party that had called for the elimination of some of that nation's rescue loans. 

IBD pB3 "Stock market rebounds from a lackluster start" by Vincent Mao says stocks overcame early weakness to finish higher Mon, adding to last week's positive action as Monday's action saw stocks reverse higher and the current outlook is confirmed uptrend.  Microsoft fell 3% after the close on mixed results.

As of the open of  the market on Tuesday the current divisor for the Dow Jones Industrial Average found at page C5 of  Tuesday's Wall St. Journal is 0.15571590501117.  Tuesday's trailing P/E   ratio is 16.66 up  from Monday's   trailing P/E ratio of 16.64 (last year it was 15.62).  Tuesday's P/E estimate is 15.58 unchanged from Monday's P/E estimate of 15.58 (year ago it was 14.75) and  Tuesday's dividend yield is 2.47 up from  Monday's dividend yield of 2.46  (last year it was 2.43). The Dow's all-time high was 18053.71 on December 26,  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 2752.85  up 0.95  from  Friday's   numerator of 2751.90.  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 $91.76  up 3 cents from Friday's  average closing price of $91.73.  The median closing price of  Monday's Dow Jones Industrial Average was $90.13  (PG/MCD).  The lowest volume was  Travelers and the highest volume was GE.

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  $95  ($275,285 - $275,190).

1/26/15 Mon. 4:15 pm MarketWatch by Anora Mahmudova  & Barbara Kollmeyer says  U.S. stocks ended Monday’s choppy trading session with small gains, as investors mostly shrugged off the Greek election results which brought the leftist Syriza party to power. The relative calm in global equity markets was attributed largely to lingering effects of the quantitative easing program announced by the European Central Bank last week, which overshadowed election results in Greece.     After switching between small gains and losses, the main indexes closed marginally higher. S&P 500 SPX, +0.26% ended 5.24 points, or 0.3%, higher at 2,057.07. The Dow Jones Industrial Average DJIA, +0.03% added 6.1 points to 17,678.70. The Nasdaq COMP, +0.29%  ended the day up 13.88 points, or 0.3%, at 4,771.76.On Sunday, the leftist Syriza party, which ran on an antiausterity platform, won elections in Greece and fears that the new government in Greece may decide to leave the eurozone sent the euro plunging against the dollar, though the single currency pared its Sunday losses by Monday morning. Traders dismissed election results as insignificant to financial markets and unlikely to destabilize the rest of European economy, while stressing that accommodative monetary policies from major central banks will continue to underpin markets.
Uri Landesman, president of Platinum Partners hedge fund, is not concerned with election results in Greece.“The Greeks chose a new extreme party and they will have to live with the consequences. Whatever they decide to do in terms of their debt, will impact them, not the rest of Europe,” Landesman said.Speaking about recent weakness in the U.S. stock market, Landesman attributed it to the end of quantitative easing and expectations of rate hikes this year.“Return to volatility may see the S&P 500 go from 1,750 to 2,350 this year. It will be great for hedge funds. In fact, we are opening a long-short fund in anticipation of greater volatility as the party [easy monetary policy] comes to an end,” he added.Bruce Bittles, chief investment strategist at RW Baird & Co., said that the reason markets have not fallen more is because there are few other options to put money in.
“Strength of the dollar and a growing economy make the U.S. markets attractive, so there is demand from foreign investors for both bonds and stocks,” Bittles said.

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

AT&T:   AJC pA7 "AT&T buying Nextel Mexico" by Bloomberg says AT&T will buy NII Holdings Inc's Mexican wireless assets for $1.875 bil.

WSJ pC8 "Verizon's double-edged growth" by Miriam Gottfired says Verizon's results fell short of analyst expectations last week due to aggressive pricing from T-Mobile while has forced AT&T and Verizon to discount.

American Express:  No mentions found.

Boeing:  No mentions found.

Caterpillar:  No mentions found.

Chevron:  No mentions found.

Cisco:  No mentions found.

Coke:  AJC pA8 "Coke airs some info about Super Bowl ad" by Leon Stafford says  coke will issue the hashtag #MakeIt Happy and a commercial during the Super Bowl.

Disney:  No mentions found.

DuPont:  WSJ pB3 "Proxy battle puts focus on DuPont earnings outlook" by Jacob Bunge says DuPont will detail 4Q estimates as it is embroiled in a battle with activist investors Tiran Fund which has blasted DuPont's ability to forecast its own performance.

Exxon:  No mentions found.

GE:  No mentions found.

Goldman Sachs:  No mentions found.

Home Depot:  USAT p3B "Home Depot " is charted saying it is a beneficiary of the snowstorm in the NE.

Intel:  No mentions found.

IBM:  WSJ pB4 "The man behind IBM's cloud based campaign" by Don Clark says Robert LeBlanc a 33 year IBM vet was named the leader of a new dedicated cloud unit.

AJC pA8 "IBM refutes Forbes report of mass layoffs" says Forbes' report that IBM will lay off 100,000 people is baseless.

JPMorgan:  Daily Report p1 "Whistleblowers fined $1.6M for talking to reports while case was sealed" by R. Robin McDonald says JPMorgan and other banks paid $168 mil to settle a case accusing 6 banks of defrauding military vets & the gov.

Johnson & Johnson:  No mentions found.

McDonald's:  WSJ pB2 "The business side of animal rights" by Jacob Bunge, Kelsey Gee says McDonald's is among the firms that will buy food from vendors who don't mistreat animals.

Merck:  No mentions found.

Microsoft:  IBD pA4 "Microsoft Q2 beats; Office, windows soft" by Patrick Seitz NYT pB3 "Price cuts for crucial Microsoft products eroded holiday-season profit" by Nick Wingfield,  USAT p1B "Windows, Nokia ding Microsoft profits" by Jon Swaretz WSJ pB1 "Microsoft's Windows shows its age" by Shira Ovide say Microsoft had net income for the most recent quarter of $5.86 bil or 71 cents a share vs. net income of $6.56 bil or 78 cents a share.  Rev rose 8% to $26.47 bil above estimates of $26.3 bil.

IBD pB3 "Stock market rebounds from a lackluster start" by Vincent Mao says stocks overcame early weakness to finish higher Mon, adding to last week's positive action as Monday's action saw stocks reverse higher and the current outlook is confirmed uptrend.  Microsoft fell 3% after the close on mixed results.

Nike:  No mentions found.

Pfizer:  No mentions found.

Procter & Gamble:  WSJ pC1 "P&G does some housecleaning" by Spencer Jakab says P&G 2Q results will be announced today and analysts expect eps of 1.13 down from 1.21 a year ago.

3M:  No mentions found.

Travelers:  No mentions found.

United Technologies:  WSJ pB5 "UTX lowers foecasts, cites currency" by Ted Mann, Angela Chen, IBD pA2 "United technologies sales miss"  say United technologies lowered its '15 sales andprofit forecasts as the stronger dollar takes a bite out of overseas sales of jet engines, elevators and other equitmpent.  It reduced its '15 sales estimates by $1.5 bil to a range of $65 bil to $66 bil.

UnitedHealthcare:  No mentions found.

Verizon:  WSJ pC8 "Verizon's double-edged growth" by Miriam Gottfired says Verizon's results fell short of analyst expectations last week due to aggressive pricing from T-Mobile while has forced AT&T and Verizon to discount.

Visa:  No mentions found.

Walmart:  No mentions found.

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


******************
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 Craig Menear (Atlanta, GA)

Intel INTC Brian M. 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 NKE 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 Greg Hayes (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 12/20/14 ranked in order of market capitalization in billions:

1. Exxon Mobil XOM $396.52
2. Microsoft MSFT 392.85
3. Johnson & Johnson JNJ 295.45
4. Wal-Mart WMT 274.49
5. GE 257.28
6. Procter & Gamble PG 248.73   
7.  JPMorgan Chase JPM 231.48
8. Chevron CVX 213.49
9.  Pfizer PFE 201.24
10. Verizon VZ 195.12
11. Coke KO 183.75
12.  Intel INTC 175.85  
13.AT&T T 173.97
14. Merck MRK 169.86
15. Visa V 164.40
16. Disney DIS 157.51
17. IBM 156.87
18. Cisco CSCO 142
19. Home Depot HD 134.33 
20. 3M MMM 106.04 
21.  United Technologies UTX 105.38  
22. UnitedHealth UNH 98.37
23. American Express AXP 96.71
24. McDonald's MCD 90.72   
25. Boeing BA 89.99 
26. Goldman Sachs GS 87.52
27. Nike NKE 81.71
28. DuPont DD 66.40
29. Caterpillar CAT 55.52
30. Travelers TRV 35.05
****************************************
Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 12/20/14:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

AT&T T:
12/19/14 8K re: amendment to Supplemental Employee Retirement Plan
12/2/14 8K re: closing of sale of Global Notes
11/10/14 2 10/A's & 10Q re: qtr. ended 9/10/14
11/10/14 8K re: closing of sale of Global Notes
11/7/14 8K re: increased of Board to 15 & election of William E. Kennardd & agrmt to buy Mexican wireless firm GSF telecom
10/24/14 8K re: completion of sale of Ct. wireline operations to Frontier Comm
3 8Ks (10/22; 10/22 & 9/30/14) re: 3Qtr result

American Express AXP:
12/15/14 8K re: Delinq. & write-off stats for 3 mos. ended 11/30
12/5/14 8K re: issuance of Sub. Notes
12/4/14 8K re: retirement of Director Richard A. McGinn
11/17/14 8K re: delinq. & write off stats for 3 mos. ended 10/31
11/12/14 8K re: issuance of Series B Preferred Shares
10/28/14 10Q  & 10/15/14 8K re: 3Qtr results ended 9/30/14
10/15/14 8K re: delinq. & write-off stats for 3 months ended 9/30/14

Boeing BA:
12/19/14 8K re: retirement of Shephard W. Hill, Pres. of Boeing Int'l & Sr. VP, Bus. Dev/Strategy
12/15/14 8K re: increase of quarterly div & authorization of $12 bil share buyback
10/31/14 8K re: issuance of senior notes
10/22/14 10Q & 10/22/14 8K re: 3Qtr results ended 9/30/14
10/16/14 8K re: credit agreements

Caterpillar CAT:
12/18/14 8K re: retirement of Group VPs Stuart L. Levenick & Steven H. Wunning
12/18/14 8K & 11/20/14 8K re: FD disclosures re: retail sales of machines & power systems
12/11/14 8K re: retirement of director Peter A. Magowan
10/31/14 10Q & 10/23/14 8K re: 3Qtr results ended 9/30/14
10/22/14 8K re: sales to retail and OEM
10/14/14 8K re: retirement of Group Presidents Stuart Levenick & Steven Wunning

Chevron CVX:
12/12/14 8K re: election of Alexander B. Cummings Jr. to Board
11/18/14 8K re: issuance of Floating Rate Notes
11/7/14 10Q for Qtr ended 9/30/14
10/31/14 8K re: 3Qtr results

Cisco CSCO:
12/19/14 & 12/18/14 8Ks re: Pre-arranged stock trading plan for execs
11/24/14 8K re: amendment to employee stock purchase plan
11/12/14 8K; 11/14/14 8K & 11/20/14 10Q re: results of 1 Qtr. ended 10/25/14

Coke KO:
12/11/14 8K re: increase Board to 17 & election of Marc Balland & David B. Weinberg
10/29/14 10Q & 10/21/14 8K re: 3Qtr ended 9/26/14
10/1/14 8K re: Guidelines for '14 Equity Plan

Disney DIS:
11/19/14 10K & 11/6/14 8K re: results of fiscal year ended 9/27/14
11/6/14 8K re: 4Qtr & FY ended 9/27/14
10/3/14 8K re: CEO Robert Iger's amended employment contract

DuPont DD:
12/18/14 8K re: FD disclosures re: presentation re: Performance Chemicals segment
12/18/14 8-K/A re: pre-tax charges re: restructuring plan
10/28/14 CEO letter to shareholders
10/28/14 & 10/28/14 8K re: 3Qtr ended 9/30/14

ExxonMobil XOM:
11/24/14 8K re: retirement of VP S.D. Pryor
11/5/14 10Q & 10/31/14 8K re: 3Qtr ended 9/30/14

GE:
11/10/1 8K re: incentive grant to CEO Jeffrey R. Immelt
11/4/14 10Q & 10/17/14 8K re: 3Qtr ended 9/30/14

Goldman Sachs GS:
12/19/14 8K re: election to Board of Mark A. Flaherty & Mark D. winkelman
12/17/14 & 12/16/14 8Ks re: issuance of notes
11/5/14 10Q & 10/16/14 8K re: 3Qtr ended 9/30/14
10/23/14 8K re: legal opinion re: debt issuance

Home Depot HD:
11/25/14 10Q & 11/18/14 8K re: Qtr. ended 11/2/14
11/6/14 8K re: breach of payment data system
10/20/14 8-K/A re: promotion of Craig A. Menear to CEO
10/14/14 8K re: resignation of Marvin R. Ellison, EVP

Intel INTC:
12/16/14 8K re: trigger of  interest change on debentures
11/21/14 28Ks & 11/18/14 8K re: FD Disclosure re: Annual investor meeting
11/20/14 8K re: increase of quarterly div. & '15 Business Outlook
10/29/14 10Q & 10/14/14 8K re: 3rd Qtr ended 9/27/14

IBM:
12/8/14 8K re: retirement of Robert C. Weber sVP, Legal
11/25/14 8K re: issuance of debt securities
11/12/14 8K re: investors conference
11/5/14 8K re: underwriting contract with JPMorgan
10/28/14 10Q & 2 8Ks (10/20) re: 3Qtr ended 9/30/14
10/20/14 8K re: closing of Lenovo's purchase of IBM's x86 server business
10/20/14 8K re: sale of IBM's global comm'l semiconductor tech business to Globalfoundries

JPMorgan Chase JPM:
12/9/14 8K re: close of public offering of Sub. Notes
11/12/14 8K re: payment of $1.01d bil to settle foreign exchange trading allegations
11/3/14 &  2 8Ks (10/14) re: 3Qtr ended 9/30/14
10/22/14 8K re: sale of 2.2% notes due '19
10/2/14 8K re: cyberattack
10/2/14 8K re: adjustment of warrant price

Johnson & Johnson JNJ:
11/21/14 8K re: issuance of notes
11/10/14 8K re: closing of purchase of Alios BioPharma, Inc. for $1.75 bil
10/30/14 10Q & 10/14/14 8K re: 3Qtr ended 9/28/14
10/2/14 8K re: agreement to purchase Alios Biopharma

McDonald's MCD:
12/8/14 8K re: Nov. '12 sales
11/12/14 8K re: Oct. '12 sales
11/3/14 10Q & 10/21/14 8K re: 3Qtr ended 9/30/14
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.

Merck MRK:
11/10/14 10Q re: Qtr. ended 9/30/14
10/27/14 8K re: 3Qtr results
10/15/14 8K re: issuance of notes
10/2/14 8K re: completion of sale of Consumer Care Business to Bayer for 414.2 bil

Microsoft MSFT:
12/4/14 8K re: results of votes at 12/3 Annual Shareholders Meeting
11/14/14 Proxy Letter from Bd Chair John W. Thompson re: Annual Mtg
10/23/14 10Q & 10/23/14 8K re: 1Qtr ended 9/30/14
10/21/14 & 10/20/14 & 10/20/14 Proxy re: Annual Shareholder Mtg at 12/3/14 at 8 am at Meydenbauer ctr., Bellevue, WA

Nike NKE:
12/18/14 8K & 10/7/14 10Q re: results of Qtr. ended 11/30/14
10/7/14 10Q & 9/30/14 8K & 9/25/14 8K re: 1Qtr ended 8/31/14
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.

Pfizer PFE:
11/6/14 10Q for quarter ended 9/28/14
11/6/14 10Q & 10/28/14 8K re: 3Qtr ended 9/28/14

Procter & Gamble PG:
11/21/14 8K re: pre-arranged stock trading plan of CEO A.G. Lafley
11/13/14 8K re: '14 Analysts Mtg & sale of Duracell to Berkshire Hathaway
11/4/14 8K re: closing of sale of floating rate notes due '64
11/3/14 8K re: sale of notes
11/3/14 re: Argentina regulatory problems re: taxes
10/24/14 10Q & 2 8Ks (10/24) 1Qtr ended 9/30/14
10/20/14 8K re: voting results of 10/14 Annual Mtg of Shareholders
10/14/14 8K re: dividend of 64 cents payable 11/17 to record holders on 10/24/14

3M MMM:
12/16/14 8K re: dividend for 1Q '15 & '15 outlook
11/10/14 8K re: sale of Floating rate Notes
10/30/14 10Q & 10/23/14 8K re: 3Qtr ended 9/30/14

Travelers TRV:
10/21/14 10Q & 10/21/14 8K re: 3Qtr ended 9/30/14
9/10/14 2 8Ks re: realignment of 2 of 3 business segments

United Technologies UTX:
12/19/14 8K re: rejection of mini tender offer by TRC Capital
12/10/14 8K re: appointment of Akhil Johri, Sr. VP & CFO
11/24/14 Retirement of Louis Chenevert replaced by Gregory J. Hayes & election of Dir. Edward A. Kangas as Chairman of Bd. & appointment of Peter F. Longo as Acting CFO
10/24/14 10Q & 10/21/14 8K re: 3Qtr ended 9/30/14

UnitedHealth Group UNH:
12/8/14 8K re: sale of notes
12/1/14 8K re: annual investor conference
11/12/14 8K re: appointment of David S. Wichmann Pres/CFO & Larry Renfro as Vice-Chair
11/10/14 10Q for Qtr. ended 9/30/14
10/16/14 8K re: 3Qtr results

Verizon Communications Inc. VZ:
12/8/14 28Ks re: change of duties for Randal S. Milch EVP & GC
12/1/14 8K re: 4Q results
11/26/14 8K re: trading of shares in UK
10/28/14 10Q & 10/21/14 8K re: 3Qtr ended 9/30/14

Visa V:
12/19/14 8K re: exec's pre-arranged stock trading plans
12/12/14 & 11/21/14 Proxies re: Annual Stockholders Meeting 1/28/15 8:30 am Crowne Plaza, Foster City, CA
11/21/14 10K for fiscal year ended 9/30/14
10/29/14 8K re: 4Qtr & full year ended 9/30/14 results
10/22/14 8K re: 1/28/15 Annual Stockholders Mtg & dividend of 48 cents payable 12/2 to record holders on 11/14/14

WalMart WMT:
12/16/14 8K re: latest ruling re: class action lawsuit in Phil for underpaying employees - Braun/Hummel v. Walmart
12/1/14 10Q & 11/13/14 8K re: quarter ended 10/31/14
11/24/14 8K re: election of Thomas W. Horton to Board
10/30/14 8K re: Closing of Walmart Seiyu stores in Japan
10/17/14 8K re: issuance of notes

THE END FOR NOW


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