Saturday, August 1, 2015

8/1/15 Sat. Chevron and Exxon's Profits Dissappoint

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

Post No. 3,271 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 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  17690.46 down 55.52 or 0.31% from Thursday's close of 17745.98.  For the week the Dow was up 121.93 or  0.69% from last Friday's close of 17568.53. For the year the Dow is down 0.75%. Of the 30   Dow components  15   gained  and  15  declined.  The  biggest gainer dollar-wise was Boeing up $1.16 and percentage-wise was Coke up 1.28%.  The  biggest decliner dollar-wise  and percentage-wise was Chevron down $4.55 or 4.89%.

IBD pB8 "Stocks indexes end flat to down, but small caps, IBD 50 climb" by Paul Whitfield says Friday's action saw small losses in mixed vol while the current outlook is uptrend under pressure.

FT p12 "Wall street" by Mamta Badkar says Exxon shares fell 4% and Chevron shares after both reported drop in 2Q profits.

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 0.14967727343149.  Monday's trailing P/E   ratio is 16.86 up from Friday's   trailing P/E ratio of  16.67 (last year it was 15.72).  Monday's P/E estimate is 15.96 up from Friday's P/E estimate of 15.91 (year ago it was 14.62) and  Monday's dividend yield is  2.38 down from Friday's dividend yield of  2.39 (last year it was 2.22). The Dow's all-time high was 18312.39 on May 19,  2015. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Friday's closing Dow Jones Industrial Average numerator is 2647.86 down 8.31 from Thursday's closing average numerator of 2656.17.   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 (0.14967727343149) you get the change in today's Dow. A dollar increase or decrease in a Dow stock results in a $5.08  change in the Dow Index.

The average closing price (the closing numerator divided by 30) of  Friday's Dow Jones Industrial Average was $88.26 down 28 cents  from Thursday's closing average of $88.54.  The median closing price of  Friday's Dow Jones Industrial Average was $78.92 (CAT/XOM) down $1.76  from  Thursday's median closing price of $80.68 (CAT/XOM).  The lowest volume was Travelers and the highest volume was Apple.

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 lost  $831  ($265,536 - $264,786).

7/31/15 Fri. 4:06 pm MarketWatch by  Anora Mahmudova says U.S. stocks ended lower Friday, as weakness in the energy sector outweighed modest gains elsewhere. Earlier, a closely watched measure of employment costs decelerated in the second quarter, sparking hopes that the Federal Reserve may delay rate hikes this year. Analysts pointed out that weak wage growth is a symptom of slowing growth, which does not bode well for corporate earnings. The main indexes recorded modest weekly and monthly gains. The S&P 500 SPX, -0.23% closed 4.71 points, or 0.2%, lower at 2,103.90. The index ended July roughly at the same level it finished in May, erasing all of the previous month's losses. The weekly gain for the benchmark stood at 1.2%, while it booked a 2% gain over the month. The Dow Jones Industrial Average DJIA, -0.32% slipped 55.32 points, or 0.3%, to 17,690.66, but ended the week with a gains of 0.7% and booked a 0.4% gain over the month. The Nasdaq Composite COMP, -0.01% ended the session less than a point lower at 5,218.28. The tech-heavy index rose 0.8% over the week and 2.9% over the month.

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

American Express:  NYT pB1 "Guesswork in cashing in Delta's miles" by Ron Lieber says Delta's program is a rip off and American Express knows it but won't do anything about it.

Apple:  IBD pA5 "Apple analyst: new iPhone 6S looks strong" by Patrick Seitz says Nomura analyst says sales of iPhone 6S will be better than most expect.

FT p15 "Week preview" says on Friday 8/7 says Apple watch goes on sale at Best Buy.

Boeing:  WSJ pB3 "Marines say costly F-35 ready to fight" by Doug Cameron says the Lockheed 14 years ago beat out Boeing for the F-35 military contract which has become the world's priciest military contract.

Caterpillar:  No mentions found.

Chevron: IBD pB18 "Crude suffers its worst month since Oct. 2008" by Bloomberg, FT p1 "US oil majors suffer heavy falls" by Christopher Adams, David Sheppard, Robert Wright,  FT p12 "Wall street" by Mamta Badkar says Exxon shares fell 4% and Chevron shares after both reported drop in 2Q profits.

Barron's p35 "Invest big and agitate for change" by Robert Milburn says activists are pressuring Exxon and Chevron to transition to cleaner energy.

Cisco:  No mentions found.

Coke:  Barron's pM2 "Charting the Market", IBD pA2 "Coke bottler in merger talks" says CCE may buy some European bottlers.

IBD pA8 "A red bull, rockstar, monster future" by Vance Cariaga says Coke and other beverage firms are seeing weaker soda sales in the US as health conscious consumers avoid sugary beverages.

Disney:  No mentions found.

DuPont:  No mentions found.

Exxon:  FT p9 "Majors announce more cuts as crude keeps on sliding, WSJ pB2 "Exxon has M&A edge amid low oil prices" by Liam Denning, FT p1 "US oil majors suffer heavy falls" by Christopher Adams, David Sheppard, Robert Wright, Barron's pM2", FT p12 "Wall street" by Mamta Badkar say Exxon shares fell 4% and Chevron shares after both reported drop in 2Q profits. Barron's charts Exxon.

Barron's p35 "Invest big and agitate for change" by Robert Milburn says activists are pressuring Exxon and Chevron to transition to cleaner energy.

GE:  No mentions found.

Goldman Sachs:  NYT pA15 "Clintons report earnings of $139 million in seven years" by Maggie Haberman, Steve Eder says Goldman Sachs has paid the Clintons hundreds of thousands of dollars for speeches.

Home Depot:  No mentions found.

Intel:  No mentions found.

IBM:  No mentions found.

JPMorgan:  No mentions found.

Johnson & Johnson:  No mentions found.

McDonald's:  No mentions found.

Merck:  No mentions found.

Microsoft:  FT p9 "Windows 10's digital helper looks to let in some fresh air" by Stephen Foley, Richard Waters with free upgrades to Windows 10, it is expected that it will be installed more than the prior version, Windows 8, which was installed on only 16% of PCs.

WSJ pA1 "Uber's value surges past $50 bil" by Douglas MacMillan, Telis Demos says Microsoft invested in Uber.

Nike:  No mentions found.

Pfizer:  IBD pB13 "Pfizer resilient amid challenges" by Scott Stoddard says Pfizer got a boost from a better than expected quarterly earnings report.

Procter & Gamble:  FT p9 "Taylor chosen to continue tidying up P&G's performance",Barron's p14 "Procter & Gamble tapped David Taylor to succeed CEO A.G. Lafley

3M:  No mentions found.

Travelers:  No mentions found.

United Technologies:  No mentions found.

UnitedHealth:  Barron's p26 "Healthy profits" by Reshma Kapadia says Jean Hynes, Portfolio Manager, vanguard Health Care  says UnitedHealth Group is at the forefront of much of the industry's change.

Verizon:  No mentions found.

Visa:  No mentions found.

Walmart:  No mentions found.

Friday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market
AXP▼ NYSE
AAPL▼ NASDAQ-GS
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:

Apple: Tim Cook (Cupertino, CA)

American Express AXP Kenneth I. Chenault (NY, NY)

Boeing BA W. James McNerney, Jr. (Chicago, Ill) (to be replaced 7/1/15 by Dennis A. Muilenburg)

Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)

Chevron CVX John Watson (San Ramon, CA)

Cisco CSCO John Chambers (San Jose, CA) to be replaced 7/26 by Chuck Robbins

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 Steve Easterbrook (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) (//David S. Taylor replaces 11/1)

3M MMM Inge Thulin (St. Paul, MN)

Travelers TRV Jay S. Fishman (NY, NY)

UnitedHealth UNC Stephen Hemsley (Minnetonka, MN)

United Technologies UTX Greg Hayes (Hartford, CT)

Verizon VZ Lowell McAdam (NY, NY)

Visa V Charles W. Scharf (San Francisco, CA)

Wal-Mart WMT Doug McMillon (Bentonville, ARK)
***************************
Here are the Dow Jones Industrial Average 30 as of 6/9/15  ranked in order of market capitalization in billions:

1. Apple AAPL $734.07
2. Microsoft MSFT 370.36
3. Exxon Mobil XOM 353.64
4. GE 275.37
5. Johnson & Johnson JNJ 272.34
6. JPMorgan Chase JPM 249.28
7. Wal-Mart WMT 233.75
8. Procter & Gamble PG 214.06   
9. Pfizer PFE 209.42
10.  Verizon VZ 193.08
11.  Chevron CVX 188.84
12. Disney 184.13
13. Coke KO 175.22
14. Visa V 166.27
15. Merck MRK 166.24
16. IBM 163.15
17.  Intel INTC 148.25
18. Cisco CSCO 143.63
19. Home Depot HD 142.28 
20. UnitedHealth UNH 111.36
21.  United Technologies UTX 103.53
22. 3M MMM 99.58 
23. Boeing BA 96.88 
24.  Goldman Sachs GS 94.25
25. McDonald' s MCD 90.8   
26. Nike NKE 87.14
27. American Express AXP 80.42
28. DuPont DD 62.65
29. Caterpillar CAT 52.35
30. Travelers TRV 31.17
****************************************
Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 6/9/15  for the prior 90 day period:

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

American Express AXP:
5/29/15 8K re: death of Pres. Edward P. Gilligan
5/15/15 8K re: delinq. & write-off stats for 3 mos. thru 4/30/15
5/11/15 8K re: Voting results of annual mtg of shareholders
4/29/15 10Q & 4/16/15 8K re: 1Q results
4/15/15 8K re: delinq. & write-off states for 3 months thru 3/31/15
3/30/15 14A Proxy material

Apple AAPL:
5/13/15 8K re: issuance of notes
4/28/15 10Q & 4/27/15 8K re: 2Q ended 3/28/15
4/27/15 8K re: share buyback & div. of 52 cents per share payable 5/14 to record shareholders on 5/11
3/13/15 8K re: amdmt. to employee stock purchase plan

Boeing BA:
4/29/15 8K re: amendment of bylaws to decrease Board from 11 to 10 & voting results of 4/27 Annual Shareholders Meeting
4/22/15 10Q & 4/2215 8K re: 1Q results ended 3/31/15
3/13/15 14A Def. Proxy re: Annual Shareholders Mtg on 4/27/15 at 9 am at Field Museum, Chicago

Caterpillar CAT:
6/1/15; 5/28/15; & 5/22/15 Proxy material
5/20/15 8K re: April retail stats
5/1/15 10Q & 4/23/15 8K re: 1Q ended 3/31/15
4/22//15 8K re: March retail stats
3/19/15 8K re: sales thru 2/15

Chevron CVX:
6/2/15 8K re: voting results of annual stockholder meeting on 5/27
5/11/15 & 4/9/15 Proxy material
5/7/15 10Q & 5/1/15 8K re: 1Q results ended 3/31/15
3/31/15 8K re: retirement of Vice-Chair & EVP George Kirkland

Cisco CSCO:
6/1/15 8K re: termination of execs Robert w. Lloyd, Pres. Dev. & sales & Gary B. Moore, Pres/COO
5/20/15 10Q & 5/13/15 8K re: 3Q results ended 4/25/15
5/4/15 8K re: election of Charles H. Robbins CEO eff 7/26/15
3/24/15 8K re: pre-arranged stock trading plan for GC
3/19/15 8K re: exec pre-arranged stock trading plan

Coke KO:
4/30/15 10Q & 4/22/15 8K re: !Q ended 4/3/15
4/29/15 8K re: voting results of 4/29/15 Meeting of Shareholders

Disney DIS:
6/2/15 8K re: resignation of CFO James A. Rasulo
5/15/15 10Q & 5/5/15 8K re: 2Q results ended 3/28/15
3/13/15 8K re: voting results of 3/12 Annual Shareholders Mtg

DuPont DD:
6/9/15 8K/A & 6/2/15 8K/A re: voting results of 5/13/15 Annual Meeting of Stockholders
6/1/15 8K re: change of reg. agent in Delaware
5/19/15 8K & 5/13/15 8K & 5/12/15 8K & 4/23/15 8K re: sale of notes by subsidiary, Chemours & spin-off of Chemours to shareholders.
April & March, 2015 numerous Proxy materials re: Trian's proposal to add Directors
4/21/15 10Q & 4/21/15 8K re: 1Q results ended 3/31/15 & dividend of 49 cents payable 6/12 to record holders of 5/15

ExxonMobil XOM:
6/1/15 8K re: results of voting of 5/27/15 Annual Shareholders Meeting
5/14/15; 4/21/15; & 4/14/15 Proxy materials
5/6/15 10Q & 4/30/15 8K re: 1Q results ended 3/31/15
3/23/15 8K re: fin'l & operation reviews
3/10/15 8K re: 3/4/15 analyst meeting

GE:
5/28/15 8K & 5/27/15 8K re: issuance of notes
5/15/15 10Q & 4/17/15 8K re: 1Q ended 3/31/15
4/27/15 8K re: results of voting of 4/22/15 Annual Mtg of Shareholders
4/10/15 8K re: sale of GECC over 24 months to end status of being a SIFI or systemically important fin'l institution

Goldman Sachs GS:
5/22/15 8K re: issuance of notes
5/22/15 8K re: amendmt to stock incentive plan
5/12/15 re: issuance of notes
5/5/15 10Q & 4/16/15 8K re: 1Q ended 3/31/15
4/24/15 & 4/23/15 8K's re: issuance of notes
4/10/15 Proxy
3/31/15 & 3/30/15 8Ks re: issuance of notes
3/11/15 8K re: revised '15 Capital Plan
3/9/15 8K re: retirement from Board of Claes Dahlback

Home Depot HD:
6/2/15 8K re: issuance of notes
5/27/15 10Q & 5/19/15 8K re: 1Q ended 5/3/15
5/26/15 8K re: voting results from 5/21 Shareholders Mtg
4/16/15 Proxy
3/26/15 10K FY ended 2/1/15

Intel INTC:
6/5/15 & 4/6/15 8Ks re: change of organizational structure & change of reporting fin'l info
6/1/15 8K re: purchase of Altera Corp
5/27/15 8K re: voting results of 5/21 Stockholder Mtg
5/14/15 8K re: FD disclosures re: Annual Mtg
4/2/15 Proxy
3/12/15 8K re: 1Qtr guidance

IBM:
5/1/15 8K re: voting results of 4/28 Stockholder Mtg
4/28/15 10Q & 4/21/15 & 4/20/15 8Ks re: 1Q ended 3/31/15
4/3/15 Proxy
3/31/15 8K re: integration of Global Process Services
3/19/15 Def. Proxy  14A Stockholders Annual Mtg at 10 am 4/.28/15 at Statehouse Conv. Ctr., Little Rock, Ark & nomination of Alex Gorsky, CEO, Johnson & Johnson & Peter R. Voser to Board

JPMorgan Chase JPM:
6/4/15 8K re: issuance of preferred stock
5/22/15 8K re: results of voting of 5/19 shareholder mtg
5/20/15 & 5/14/15 8Ks re: settlement with U.S. Dept of Justice  & Fed. Res. re: foreign exchange charges and guilty plea to violation of fed antitrust law & payment of $550 mil fine
5/6/15 & 4/3/15 8Ks re: redemption of Bear Stearns notes
5/5/15 10Q & 4/14/15 8Ks re: 1Q ended 3/31
4/28/15 & 4/28 Proxy
4/1/15 8K re: reduction of warrant exercise price for common stock
3/24/15 8K re: issuance of notes
3/20/15 8K & 3/6/15 8K re: redemption of Bear Stearn Notes

Johnson & Johnson JNJ:
6/9/15 8K re: election of Dr. Mary Beckerle, CEO of Hunstsman Cancer Inst. to Board
5/21/15 8K re: retirement of Controller Stephen J. Cosgrove and replaced by Ronald a. Kapusta
5/1/15 10Q & 4/14/15 8K re: 1Q ended 3/29/15
4/24/15 8K re: increase of dividend to 75 cents payable 6/9 to 5/26 record holders
4/8/15 Proxy
4/3/15 8K re: divestiture by subsidiary Janssen of tapentadol to Depomed for $1.05 bil
3/11/15 Def. 14A Proxy for Annual shareholder Mtg a 10:30 am on 4/23/15 at State Theatre, New Brunswick, NJ

McDonald's MCD:
6/8/15 8K re: May sales
5/27/15 8K re: voting results from 5/21/15 Shareholder meeting
5/26/15 8K re: issuance of notes
5/11/15 8K re: April sales
5/11/15 Proxy
5/7/15 10Q & 4/22/15 8K re: 1Q ended 3/31/15
5/4/15 8K re: restructuring and turn around plans
4/10/15 Proxy 3/27/15 8KA re: election of Stephen Easterbrook as Chair of Exec Com & CEO
3/20/15 8K re: stock award to execs
3/9/15 8K re: Feb. global sales

Merck MRK:
5/28/15 & 5/26/15 8Ks re: voting results of 5/26/15 shareholder mtg
5/7/15 10Q & 4/28/15 8K re: 1Q ended 3/31/15
4/13/15 Proxy

Microsoft MSFT:
4/23/15 8K & 10Q re: 3Q ended 3/31/15

Nike NKE:
4/7/15 10Q & 3/24/15 8K re: 3Q ended 2/28/15
3/19/15 8K for Qtr ended 2/28/15

Pfizer PFE:
5/14/15 8K re: resignation of director Marc Tessier-Lavigne
5/7/15 10Q & 4/28/15 8K re: 1Q ended 3/29
4/28/15 8K re: resulting of voting from 4/23 shareholders meeting
4/8/15 Proxy
3/12/15 Def. 14A Proxy re: 4/23/15 Annual Shareholder Mtg at Short Hills, NJ

Procter & Gamble PG:
5/7/15 8K re: issuance of notes
4/23/15 10Q & 4/23/15 8Ks re: 3Q ended 3/31/15
4/17/15 8K re: declaration of dividend on common & pref. shares

3M MMM:
5/18/15 8K re: issuance of notes
5/13/15 8K re: results of voting from 5/12 stockholder meeting
4/30/15 10Q & 4/23/15 8K re: 1Q ended 3/31
3/27/15 & 3/25/15 Proxy
3/23/15 8K re: purchase of Polypore's separations media business for $1 bil

Travelers TRV:
5/22/15 8K re: voting results of 5/20/15 shareholders meeting
4/21/15 10Q && 4/21/15 8K re: 1Q results ended 3/31/15
4/3/15 Proxy

United Technologies UTX:
5/22/15 8K re: issuance of notes
5/4/15 8K re: remarketing of notes
4/27/15 8K re: voting results of 4/27 shareholder meeting
4/2/15 10Q & 3/31, 4/24 & 4/21 8Ks re: 1Q ended 3/31/15
4/14/15 8K re: issuance of equity unites
4/8/15 8K re: US dept. of Justice charges that Pratt & Whitney overcharged US air Force between '85 & '90 & status of $64 mil judgment
4/2/15 8K re: election of Robert Leduc, Pres. of Sikorsky succeeding Mick Maurer
3/13/15 Def. 14A Proxy re: Annual Mtg of Shareholders on 3/2/15 2pm at PGA Nat'l Resort, Palm Beach Gardens, FL

UnitedHealth Group UNH:
6/5/15 8K re: amendment to stock incentive plan
5/26/15 FD disclosure re: NYC 5/28 Bernstein's Conference
5/6/15 10Q & 4/16/15 8K re: 1Q ended 3/31/15
3/30/15; 4/6/15 & 4/22/15 Proxy material
3/30/15 8K re: purchase of Yukon Territory Catamaran Corp.

Verizon Communications Inc. VZ:
6/8/15 8K re: amendment of bylaws re: annual mtg of stockholders
5/13/15 8K re: retirement of Randal s. Milch, VP
5/12/15 8K re: Verizon to buy AOL for $4.4 bil
4/28/15 10Q  & 4/21/15 8K re: 1Q ended 3/31/15
4/24/15 & 3/23/15 Proxy
3/12/15 8K & 2/26/15 8K & 2/25/15 8K 2/12/15 8K re: results of exchange offer

Visa V:
4/30/15 10Q & 4/30/15 8K re: 2Q ended 3/31
4/23/15 8K re: 12 cents a share dividend payable 6/2 to record holders of 5/15
4/14/15 8K re: resignation of Antonio Lucio, EVP and Chief Brand Officer

WalMart WMT:
6/8/15 8K re: voting results of 6/5 shareholder meeting
6/5/15 10Q & 5/19 8K re: 1Q ended 4/30/15
4/22/15 Proxy
4/1/15 10K for FY ended 1/31/15

The End

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