Saturday, January 3, 2015

1/3/15 Sat. Intel Top Dow; IBM is Worst Dow Component for 2 Straight Years


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

Post No. 2,988 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  Monday's  Barron's & Investor's Business Daily; the combined Sat/Sun issues of each of the Wall Street Journal & Financial Times; & Saturday's issues of  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 17832.99 up 9.92 or 0.06%  from Wednesday's close of 179823.07.   For the week the Dow was down 220.72 or 1.22% from last Friday's close of 18053.71. For the year the Dow is up 0.1%. Of the Dow components 14  gained  and 16   declined. The biggest gainer dollar-wise and percentage-wise was Visa up $2.82 or 1.08%. The biggest decliner dollar-wise  was and percentage-wise was Home Depot down $1.54 or 1.47%.

IBD pB9 "Year starts with stumble: stocks erase early gains" by Paul Whitfield says stocks began the new year with a negative reversal as the market uptrend continued to struggle as Friday's action was down in mixed vol while the current outlook is uptrend under pressure.

WSJ pB5 "Stocks take a holiday with weekly decline" by Saumya Vaishampayan says US stocks ended mixed Fri. with the Dow eking out a gain on the first trading day of '15.

FT p12 "Wall street" by Mamta Badkar says after posting its 3rd straight year of double digit gains in '14, with 53 new closing highs,   the S&P 500 slipped amid low trading vol in the shortened working week. 

Sat. NYT pB2 "Market mixed as investors assess outlook for 2015" by AP says stocks got off to a sluggish start on the first day of trading in '15.  The market climbed to record levels at the end of '14 and investors may now be reassessing the outlook for stocks.  While prospects for economic growth in the US look decent, in Europe and Asia they are less encouraging.

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 16.74 down  from Friday's   trailing P/E ratio of 16.88  (last year it was 16.96).  Monday's P/E estimate is 15.61 down from Friday's P/E estimate of 15.93 (year ago it was 14.75) and Monday's dividend yield is 2.43 down from  Friday's dividend yield of 2.41  (last year it was 2.07). 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.

Friday's Dow Jones Industrial Average numerator is 2776.88 up 1.54  from  Wednesday's   numerator of 2775.34.  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 $92.56 up 5 cents from Wednesday's  average closing price of $92.51.  The median closing price of  Friday's Dow Jones Industrial Average was $92.93  (XOM/AXP) up 18 cents from Wednesday's median closing price of $92.75 (XOM/AXP). The lowest volume was   Travelers and the highest volume was GE.

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  $154  ($277,688 - $277,534).

1/2/15 Fri. 4:08 pm MarketWatch by Victor Reklaitis says U.S. stocks on Friday closed roughly where they started the session, with the S&P 500 SPX, -0.03% inching lower by 0.73 point to 2,058.17, according to early FactSet data. The benchmark index rose as much as 0.7% out of the gate, as 2015's first day of trading started on an upbeat note. But then stocks gave up their early-morning gains following weaker-than-expected readings for construction spending and the Institute for Supply Management's manufacturing index, before recovering to finish essentially flat. The Dow Jones Industrial Average DJIA, +0.06% edged up by 9.92 points, or less than 0.1%, to close Friday at 17,832.99, halting a three-day losing streak. For the week, the S&P 500 lost 1.5%, and it's on a three-day losing streak. The Dow dropped 1.2% for the week.

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

AT&T:

American Express:  Barron's p11 "Analyzing reward cards" by Emily Bary says based on annual fees, sign up bonuses, pints, etc. JPMorgan Chase's Sapphire Preferred card and Starwood Preferred Guest, which is co-branded with AmEx as the best cards.

Boeing:

Caterpillar:

Chevron:

Cisco:

Coke:

Disney:

DuPont:

Exxon:

GE:

Goldman Sachs:

Home Depot:

Intel:  WSJ pB14 "Investors shouldn't cash in chips" by Dan Gallaghe says Intel and Samsung continue to build up new manufacturing processes that drive demand for tools from companies like Applied Materials and KLA-Tencor.

 Barron's pM3 "The trader" by Vito J. Racanelli says the Dow rose 7.5% in '14 with a total return of 10%.  Intel topped the list up almost 40%.  IBM was the worst Dow component for 2 straight years, the first time that's happened since Bethlehem Steel in '95 - '96.

IBM:  Barron's pM3 "The trader" by Vito J. Racanelli says the Dow rose 7.5% in '14 with a total return of 10%.  Intel topped the list up almost 40%.  IBM was the worst Dow component for 2 straight years, the first time that's happened since Bethlehem Steel in '95 - '96.

JPMorgan:   Barron's p11 "Analyzing reward cards" by Emily Bary says based on annual fees, sign up bonuses, pints, etc. JPMorgan Chase's Sapphire Preferred card and Starwood Preferred Guest, which is co-branded with AmEx as the best cards.

Johnson & Johnson:

McDonald's:

Merck:

Microsoft:

Nike:

Pfizer:

Procter & Gamble:

3M:

Travelers:

United Technologies:

UnitedHealth:

Verizon:

Visa:

Walmart:

Friday'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 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 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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