Dan Kolber: Stock Market News & Commentary

1/31/12 Tues am Friday is Deadline for BofA, JPMorgan State Mortgage Settlement

2012-01-31T07:51:00.011-05:00

1/30/12 Mon pm Dow Closes at 12,653.72 down 6.74 or 0.05%

2012-01-30T16:25:00.002-05:00

www.DowJonesMonitor.com

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Post No. 1,448 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

The Dow Jones Industrial Average closed Monday at 12,665.72 down 6.74 or 0.05% from Friday's close of 12,660.46. Of the 30 Dow components 14 gained, Cisco was unchanged and 15 declined. The biggest gainer dollar-wise was IBM $192.47 +2.01 1.06% 4,151,841 NYSE and percentage-wise was Microsoft MSFT $29.61 +0.38 1.3% 50,517,654 NASDAQ-GS. The biggest decliner dollar-wise was Procter & Gamble PG $63.21 -1.09 1.7% 12,407,487 NYSE and percentage-wise was Bank of America BAC $7.06 -0.23 3.16%217,784,072 NYSE.

As of the open of the market Monday, the current divisor for the Dow Jones Industrial Average found at page C4 of Monday's Wall St. Journal is 0.132129493. Monday's trailing P/E ratio is 13.98 up from Friday's trailing P/E ratio of 14.02 (year ago it was 14.49); Monday's P/E estimate is 12.15 up from yesterday's P/E estimate of 12.05 (year ago it was 12.63), and today's dividend yield is 2.53 up from yesterday's dividend yield of 2.51 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. 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 closing numerator was 1,671.93 down 0.89 from Friday's closing numerator of 1,672.82. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was $55.73 down $0.03 from Friday's average closing price of $55.76. The median closing price of Monday's Dow Jones Industrial Average was $46.95 (AXP/HD) down $0.41 from Friday's median closing price of $47.36. The lowest volume was Travelers TRV $58.11 +0.06 0.1% 2,332,214 NYSE and the highest volume again was Bank of America BAC $7.06 -0.23 3.16% 217,784,072 NYSE.

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) and sold at the close you would have lost $89 ($167,282 - $167,193).

MarketWatch Monday 1/30/12 3:26 pm by Kate Gibson says U.S. stocks moderated their losses Monday as telecommunications and technology companies advanced, offsetting concern that came with Portugal’s soaring borrowing costs. “Investors had started putting Europe on the back burner, but now we have a meeting today over there and sovereign bond yields rose overnight in Europe, so the market is paying a lot of attention to Europe today, but is taking it pretty well,” said Stuart Freeman, chief equity strategist at Wells Fargo Advisors. After a 131-point drop, the Dow Jones Industrial AverageDJIA -0.05% was lately down 9.69 points, or nearly 0.1%, to 12,650.77, with 16 of its 30 components losing ground, led by Bank of America Corp. BAC -3.02% . The S&P 500 Index SPX -0.25% declined 3.70 points, or 0.3%, to 1,312.63 with the financial sector hit the hardest after a report that Germany wanted Greece to relinquish control of its budget process in exchange for another rescue package. “The failing of Greek debt restructuring talks at this late hour would be a disappointment,” said Bill Stone, chief investment strategist at PNC Asset Management Group. The discord came as European Union leaders met Monday in Brussels for their first summit of the year to finalize a deficit-reduction agreement and support the setting up of a rescue fund. “Portugal bond yields continue to spike. The 2-year yield today is up by 360 basis points to 20.78% and the 10-year is higher by 190 basis points to 17.14%,” Peter Boockvar, equity strategist at Miller Tabak wrote in a morning commentary. Read more on Portugal bonds. “At this rate, Portugal is going to move from the back to front burner in very, very short order,” offered Dan Greenhaus, chief global strategist at BTIG LLC.As a sector, technology shares advanced, boosted in part by Apple Inc. AAPL +0.03% , up 1.4%. After falling 34 points, the Nasdaq Composite COMP -0.16% was down 4.10 points, or 0.2%, at 2,812.46. “The buy the dip crowd is alive and well but today they focused on the Nasdaq,” said Elliot Spar, a strategist at Stifel Nicolaus. For every two shares gaining three fell on the New York Stock Exchange, where 491 million shares traded as of 3:15 p.m. Eastern. Crude-oil futures for March delivery CL2H -0.59% lost 78 cents to end at $98.78 a barrel. April gold futures GC2J -0.17% declined $1 to close at $1,734.40 an ounce. The Commerce Department reported U.S. consumer spending came to a virtual standstill in December after climbing 0.1% the month before. Read more on spending, incomes and the U.S. savings rate. Shares of Pep Boys — Manny, Moe and Jack PBY -0.43% leapt after the automotive services and retail chain agreed to be acquired by Gores Group for $791 million. Thomas & Betts Corp. TNB +23.05% surged as Swiss engineering conglomerate ABB Ltd. ABB -3.30% CH:ABBN -2.01% said it would buy the electrical-components maker for $3.9 billion.

Monday's Closing Dow Numbers are:

Symbol Last Sale Change % Change Share Volume Market

AT&T T
$29.34 +0.18 0.62% 28,024,125 NYSE

Alcoa AA
$10.31 -0.12 1.15% 18,962,139 NYSE

American Express AXP
$49.14 -0.71 1.42% 5,211,574 NYSE

Bank of America BAC
$7.06 -0.23 3.16% 217,784,072 NYSE

Boeing BA
$74.17 -0.38 0.51% 4,208,841 NYSE

Caterpillar CAT
$110.41 -0.87 0.78% 5,923,241 NYSE

Chevron CVX
$103.4 -0.56 0.54% 6,927,455 NYSE

Cisco CSCO
$19.56 unch unch 31,021,902 NASDAQ-GS

Coke KO
$67.45 +0.01 0.01% 4,946,244 NYSE

Disney DIS
$39 -0.25 0.64% 8,126,951 NYSE

DuPont DD
$50.96 +0.24 0.47% 4,818,131 NYSE

Exxon XOM
$85.49 -0.34 0.4% 16,638,952 NYSE

GE
$18.89 -0.14 0.74% 35,918,323 NYSE

Hewlett-Packard HPQ
$27.89 +0.01 0.04% 11,543,159 NYSE

Home Depot HD
$44.76 -0.11 0.25% 6,440,549 NYSE

Intel INTC
$26.74 +0.01 0.04% 50,968,694 NASDAQ-GS

IBM
$192.47 +2.01 1.06% 4,151,841 NYSE

JPMorgan JPM
$37.02 -0.19 0.51% 23,277,937 NYSE

Johnson & Johnson JNJ
$65.7 +0.14 0.21% 6,958,321 NYSE

Kraft KFT
$38.18 -0.29 0.75% 5,592,804 NYSE

McDonald's MCD
$98.7 +0.01 0.01% 5,866,463 NYSE

Merck MRK
$38.89 +0.37 0.96% 12,642,779 NYSE

Microsoft MSFT
$29.61 +0.38 1.3% 50,517,654 NASDAQ-GS

Pfizer PFE
$21.58 +0.10 0.47% 35,664,608 NYSE

Procter & Gamble PG
$63.21 -1.09 1.7% 12,407,487 NYSE

3M MMM
$87.34 -0.12 0.14% 3,122,507 NYSE

Travelers TRV
$58.11 +0.06 0.1% 2,332,214 NYSE

United Technologies UTX
$77.61 -0.01 0.01% 4,750,649 NYSE

Verizon VZ
$37.61 +0.40 1.07% 15,614,233 DualListed

Walmart WMT
$61.3 +0.59 0.97% 7,568,767 NYSE

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The following are excerpts from Monday morning's Blog.

A read of the print editions of Monday's Barron's, Wall St. Journal, Financial Times, Investor's Business Daily, New York Times, USA Today, Atlanta Journal Constitution and 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 symbol and Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 12,660.46 down 74.14 or 0.58% from Thursday's close of 12,734.63. For the week the Dow is down 60.02 or 0.47% from last Friday's close of 12,720.48. For the year the Dow is up 3.63%. Of the 30 Dow components 2 gained and 28 declined. The biggest gainer dollar-wise was United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE and percentage-wise was Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE. The biggest decliner dollar-wise and percentage-wise was Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE.

Inv. Bus. Daily pA1 "Internet stocks perk up on mixed day for indexes" by Paul Whitfield says stocks waged a quiet battle for small stakes Fri as the indexes finished mixed in declining volume. The current market outlook is a confirmed uptrend.

Friday's Dow Jones Industrial Average closing numerator was 1,672.82 down 9.80 from Thursday's closing numerator of 1,682.62. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $55.76 down $0.33 from Thursday's average closing price of $56.09. The median closing price of Friday's Dow Jones Industrial Average was $47.36 (AXP/HD) down $0.11 from Thursday's median closing price of $47.47. The lowest volume was Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE and the highest volume again was Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE.

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) and sold at the close you would have lost $98 ($168,270 - $167,282).

MarketWatch Friday 1/27/12 4:54 pm by Kate Gibson says U.S. stocks on Friday finished mostly lower, but a late surge in financial shares helped the S&P 500 preserve a fourth week of gains after the White House said it would expand a foreclosure-prevention program and hope grew for a Greek debt-deal. “The big news the last couple of weeks is the program they launched over in Europe, the lending facility to the banking system, seems to be working,” said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank. For much of the session, the financial sector reversed course in the final hour of trade as the White House said it would loosen rules on a loan-modification program. The sector also drew a late lift from reports that Facebook plans a much-anticipated Initial public offering next week, with the Wall Street Journal reporting investment banks Morgan Stanley MS +0.32% and Goldman Sachs GS -0.93% would participate. Both stocks closed near their highs of the session. Currencies are a major factor for the Asia-Pacific economies, and forex moves may determine whether the region remains the world's growth engine. Check out these briefings on four key Asian currencies and where they may be headed. India's currency suffered a heavy drop late last year, and some believe the culprit may be gold. Up 3.6% for the month to date, the Dow Jones Industrial Average DJIA -0.58% lost 74.17 points, or 0.6%, to end at 12,660.46, down 0.5% for its first weekly loss in four. Chevron Corp. CVX +0.18% shares were among those weighing on the blue-chip index, down 2.5%, after the oil major reported a drop in profit that also fell short of estimates. Up 4.7% for the year so far, the S&P 500 Index /SPX -0.16% shifted briefly higher and ended the day down 2.1 points, or 0.2%, at 1,316.33, up 0.1% from the week-ago close. Component Ford Motor Co. F -0.08% reported its 11th straight profitable quarter, but the auto maker’s results came in below predictions, and its shares were down 4.2%. “This earnings season hasn’t been nearly as robust as the last couple; there’s a bias toward companies beating versus missing, which is reflecting a slow-growing economy,” according to Fitzpatrick. Up 1.1% for the week, the Nasdaq Composite Index /quotes/zigman/123127 COMP +0.40% added 11.27 points, or 0.4%, at 2,816.55, with the index up 8.1% for the month and year so far. For every stock on the decline nearly two gained on the New York Stock Exchange, where nearly 851 million shares traded. “We’ve had such a good run, one of the strongest we’ve had in a long time from the start of the year, so we’re overdue,” said Fitzpatrick of the late-week decline in equities. Facebook could file IPO paperwork as early as Wednesday of next week, and Morgan Stanley is close to winning the "lead left" position in the IPO. Facebook has been valued between $75 and $100 Billion dollars. “There are a lot of bullish surveys, which is usually a clear sign that things are going to correct,” he added. U.S. stocks had started mostly lower after the U.S. government said the economy grew 2.8% in 2011’s final quarter, less than the 3% predicted by analysts surveyed by MarketWatch. A rise in consumer confidence had equities only briefly trimming their decline. The Thomson Reuters/University of Michigan final index of consumer sentiment for January climbed to 75 from 69.9 at the end of December. Fitch Ratings on Friday afternoon cut the credit ratings of Spain, Italy, Belgium, Cyprus and Slovenia, saying the five nations do not hold enough financial leverage amid the regional debt crisis. The downgrades, which Fitch warned of in December, came as negotiators for private creditors headed back to Athens for talks on a debt swap to reduce Greece’s borrowings and avoid a possible default. “We all know it’s just a matter of getting everyone lined up in terms of getting private investors to take a haircut, and here domestically, things have been headed in the right direction,” said Fitzpatrick at Deutsche Bank. “The program they launched over in Europe, the lending facility to the banking system, seems to be working, with yields on Spain and Italy’s sovereign debt making substantial moves in the right direction.” “The one exception is Portugal, which seems to be headed in the wrong direction and is up another 38 basis points today,” he added.

Friday's Closing Dow Numbers and Monday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $29.16 -0.29 0.98% 36,357,419 NYSE: NYT pB8 "AT&T says it badly needs mroe spectrum" by Brian Chen says smartphones & tablets are squeeezing data networks and AT&T says the gov is keeping telecoms from expanding the data networks' capacity.

Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE: Barron's pM10 "A triumph of strategy over hope" by Steven Sears says a good strategy might be to sell Feb calls that are 10% out of the money on Alcoa.

American Express AXP $49.85 -0.13 0.26% 5,376,097 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE: WSJ pC1 "Banks seek a direction" by Jon Cheng says Bank of America the worst performing member of the Dow last year is up 31% and JUPMorgan is up 12%.

NYT pB1 "US banks tally exposure to Europe's maelstrom" by Pete Eavis says five large US banks including JPMorgan and Bank of America have more than $80 bill of exposure to Italy, Spain, Portugal, Ireland and Greece, the most stressed nations in the Euro zone.

WSJ pC3 "BofA plans a reshuffle" by Dan Fitzpatrick says Tom Montage the co-coo will name Christain Meissner to be the sole head of its investment banking operation. He has no ties to the charlotte based bank or the old Merrill Lynch.

Boeing BA $74.55 -0.76 1.01% 4,745,440 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Inv. Bus. Daily pA6 "Airlines discovering leasing planes is cheaper than buying "by Vance Cariaga says Air Lease in Dec closed a $1.2 bil order with Boeing to buy 8 more planes, it already has 79 aircraft which it leases to 49 airlines in 30 countries.

Caterpillar CAT $111.28 -0.03 0.03% 7,826,752 NYSE: WSJ pB1 "Lockout tests union's clout" by James Hagerty says Caterpillar has locked out 450 workers at a locomotive factory in London, Ontario.

Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE: Daily Report p9 "2nd Circ faults US dist judge's attempt to block $17 bil judgment vs Chevron" by Mark Hamblett discusses the appellate court's ruling dismissing the declaratory judgment for Chevron involving environmental claims in Ecuador.

Cisco CSCO $19.56 -0.27 1.36% 43,538,596 NASDAQ-GS: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Coke KO $67.44 -0.57 0.84% 8,387,548 NYSE: No mentions found.

Disney DIS $39.25 -0.10 0.25% 9,573,480 NYSE: No mentions found.

DuPont DD $50.72 -0.22 0.43% 6,744,091 NYSE: No mentions found.

Exxon XOM $85.83 -0.94 1.08% 15,976,476 NYSE: WSJ pB3 "Exxon Mobil to unload its subsidiary in Japan" by Paul Baylis, NYT pB7 "Exxon Mobil agrees to sell unit in Japan" by Michael J. de la Merced", USA Today p1B "Exxon to sell Japanese unit in $3.9 bil deal" say XOm will sell its refining & marketing business to partner TonenGeneral Sekiyu and Exxon's stake in TonenGeneral will fall to 22% from 50%.

WSJ pB2 "Happening this week", NYT pB2 "Corporate Earnings" says on Tues Exxon and Pfizer report and on Thurs Merck reports.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walmart, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

GE $19.03 -0.04 0.21% 32,513,821 NYSE: USA Today p2B "How does GE's int'l strategy help in USA" by Kathy Chu is an interview with GE's vice chair and heald of global opeations John Rice who says GE's int'l strategy benefits its US operations.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Hewlett-Packard HPQ $27.88 -0.11 0.39% 11,894,256 NYSE: No mentions found.

Home Depot HD $44.87 -0.08 0.18% 7,886,300 NYSE: No mentions found.

Intel INTC $26.73 -0.02 0.07% 50,580,837 NASDAQ-GS: Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

IBM $190.46 -0.52 0.27% 3,357,357 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

JPMorgan JPM $37.21 -0.28 0.75% 27,498,266 NYSE: WSJ pC1 "Banks seek a direction" by Jon Cheng says Bank of America the worst performing member of the Dow last year is up 31% and JUPMorgan is up 12%.

NYT pB1 "US banks tally exposure to Europe's maelstrom" by Pete Eavis says five large US banks including JPMorgan and Bank of America have more than $80 bill of exposure to Italy, Spain, Portugal, Ireland and Greece, the most stressed nations in the Euro zone.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Johnson & Johnson JNJ $65.56 -0.14 0.21% 10,417,203 NYSE: No mentions found.

Kraft KFT $38.47 -0.13 0.34% 6,794,493 NYSE: No mentions found.

McDonald's MCD $98.69 -0.49 0.49% 5,124,355 NYSE: Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

Barron's p16 "CEO Spotlight David Novak" by Lawrence Strauss interviews the CEO of Yum! Brands who says that in 1989 McDonald's made a foray into pizza.

Merck MRK $38.52 -0.26 0.67% 12,119,824 NYSE: NYT pB2 "Corporate Earnings" says on Tues Exxon and Pfizer report and on Thurs Merck reports.

Barron's p15 "Week preview" says on Thursday Merck reports earnings.

Inv. Bus. Daily pA9 "Biomeds reach for critical mass" by Marilyn Alva says last year 2 new hepatitis C drugs from Vertex and Merck spurred excitement in the market.

Microsoft MSFT $29.23 -0.27 0.92% 44,184,878 NASDAQ-GS: Barron's p9 "Just too much money" by Michael Santoli says Microsoft initiated a dividend in early '03 but its stock has done little since then.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Pfizer PFE $21.48 -0.15 0.69% 132,871,584 NYSE: Fin times p20 "Pfizer", NYT pB2 "Corporate Earnings" say on Tues Exxon and Pfizer report and on Thurs Merck reports. FT says analysts wonder if Pfizer will continue its run of strong profit and rev growth in spite of the patent expiration of Lipitor.

Procter & Gamble PG $64.3 -0.50 0.77% 10,979,911 NYSE:

3M MMM $87.46 -0.12 0.14% 3,747,183 NYSE:

Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE: No mentions found.

United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE: No mentions found.

Verizon VZ $37.21 -0.13 0.35% 17,108,888 DualListed:

Walmart WMT $60.71 -0.26 0.43% 6,286,485 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

***************************
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

1/30/12 Mon am Exxon & Pfizer Report Tus; Merck on Thurs: Exxon Sells Japan Unit for $3.9 Bil

2012-01-30T07:35:00.003-05:00

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Post No. 1,447 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

A read of the print editions of Monday's Barron's, Wall St. Journal, Financial Times, Investor's Business Daily, New York Times, USA Today, Atlanta Journal Constitution and 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 symbol and Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 12,660.46 down 74.14 or 0.58% from Thursday's close of 12,734.63. For the week the Dow is down 60.02 or 0.47% from last Friday's close of 12,720.48. For the year the Dow is up 3.63%. Of the 30 Dow components 2 gained and 28 declined. The biggest gainer dollar-wise was United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE and percentage-wise was Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE. The biggest decliner dollar-wise and percentage-wise was Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE.

Inv. Bus. Daily pA1 "Internet stocks perk up on mixed day for indexes" by Paul Whitfield says stocks waged a quiet battle for small stakes Fri as the indexes finished mixed in declining volume. The current market outlook is a confirmed uptrend.

As of the open of the market Monday, the current divisor for the Dow Jones Industrial Average found at page C4 of Monday's Wall St. Journal is 0.132129493. Monday's trailing P/E ratio is 13.98 up from Friday's trailing P/E ratio of 14.02 (year ago it was 14.49); Monday's P/E estimate is 12.15 up from yesterday's P/E estimate of 12.05 (year ago it was 12.63), and today's dividend yield is 2.53 up from yesterday's dividend yield of 2.51 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. 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 closing numerator was 1,672.82 down 9.80 from Thursday's closing numerator of 1,682.62. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $55.76 down $0.33 from Thursday's average closing price of $56.09. The median closing price of Friday's Dow Jones Industrial Average was $47.36 (AXP/HD) down $0.11 from Thursday's median closing price of $47.47. The lowest volume was Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE and the highest volume again was Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE.

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) and sold at the close you would have lost $98 ($168,270 - $167,282).

MarketWatch Friday 1/27/12 4:54 pm by Kate Gibson says U.S. stocks on Friday finished mostly lower, but a late surge in financial shares helped the S&P 500 preserve a fourth week of gains after the White House said it would expand a foreclosure-prevention program and hope grew for a Greek debt-deal. “The big news the last couple of weeks is the program they launched over in Europe, the lending facility to the banking system, seems to be working,” said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank. For much of the session, the financial sector reversed course in the final hour of trade as the White House said it would loosen rules on a loan-modification program. The sector also drew a late lift from reports that Facebook plans a much-anticipated Initial public offering next week, with the Wall Street Journal reporting investment banks Morgan Stanley MS +0.32% and Goldman Sachs GS -0.93% would participate. Both stocks closed near their highs of the session. Currencies are a major factor for the Asia-Pacific economies, and forex moves may determine whether the region remains the world's growth engine. Check out these briefings on four key Asian currencies and where they may be headed. India's currency suffered a heavy drop late last year, and some believe the culprit may be gold. Up 3.6% for the month to date, the Dow Jones Industrial Average DJIA -0.58% lost 74.17 points, or 0.6%, to end at 12,660.46, down 0.5% for its first weekly loss in four. Chevron Corp. CVX +0.18% shares were among those weighing on the blue-chip index, down 2.5%, after the oil major reported a drop in profit that also fell short of estimates. Up 4.7% for the year so far, the S&P 500 Index /SPX -0.16% shifted briefly higher and ended the day down 2.1 points, or 0.2%, at 1,316.33, up 0.1% from the week-ago close. Component Ford Motor Co. F -0.08% reported its 11th straight profitable quarter, but the auto maker’s results came in below predictions, and its shares were down 4.2%. “This earnings season hasn’t been nearly as robust as the last couple; there’s a bias toward companies beating versus missing, which is reflecting a slow-growing economy,” according to Fitzpatrick. Up 1.1% for the week, the Nasdaq Composite Index /quotes/zigman/123127 COMP +0.40% added 11.27 points, or 0.4%, at 2,816.55, with the index up 8.1% for the month and year so far. For every stock on the decline nearly two gained on the New York Stock Exchange, where nearly 851 million shares traded. “We’ve had such a good run, one of the strongest we’ve had in a long time from the start of the year, so we’re overdue,” said Fitzpatrick of the late-week decline in equities. Facebook could file IPO paperwork as early as Wednesday of next week, and Morgan Stanley is close to winning the "lead left" position in the IPO. Facebook has been valued between $75 and $100 Billion dollars. “There are a lot of bullish surveys, which is usually a clear sign that things are going to correct,” he added. U.S. stocks had started mostly lower after the U.S. government said the economy grew 2.8% in 2011’s final quarter, less than the 3% predicted by analysts surveyed by MarketWatch. A rise in consumer confidence had equities only briefly trimming their decline. The Thomson Reuters/University of Michigan final index of consumer sentiment for January climbed to 75 from 69.9 at the end of December. Fitch Ratings on Friday afternoon cut the credit ratings of Spain, Italy, Belgium, Cyprus and Slovenia, saying the five nations do not hold enough financial leverage amid the regional debt crisis. The downgrades, which Fitch warned of in December, came as negotiators for private creditors headed back to Athens for talks on a debt swap to reduce Greece’s borrowings and avoid a possible default. “We all know it’s just a matter of getting everyone lined up in terms of getting private investors to take a haircut, and here domestically, things have been headed in the right direction,” said Fitzpatrick at Deutsche Bank. “The program they launched over in Europe, the lending facility to the banking system, seems to be working, with yields on Spain and Italy’s sovereign debt making substantial moves in the right direction.” “The one exception is Portugal, which seems to be headed in the wrong direction and is up another 38 basis points today,” he added.

Friday's Closing Dow Numbers and Monday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $29.16 -0.29 0.98% 36,357,419 NYSE: NYT pB8 "AT&T says it badly needs mroe spectrum" by Brian Chen says smartphones & tablets are squeeezing data networks and AT&T says the gov is keeping telecoms from expanding the data networks' capacity.

Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE: Barron's pM10 "A triumph of strategy over hope" by Steven Sears says a good strategy might be to sell Feb calls that are 10% out of the money on Alcoa.

American Express AXP $49.85 -0.13 0.26% 5,376,097 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE: WSJ pC1 "Banks seek a direction" by Jon Cheng says Bank of America the worst performing member of the Dow last year is up 31% and JUPMorgan is up 12%.

NYT pB1 "US banks tally exposure to Europe's maelstrom" by Pete Eavis says five large US banks including JPMorgan and Bank of America have more than $80 bill of exposure to Italy, Spain, Portugal, Ireland and Greece, the most stressed nations in the Euro zone.

WSJ pC3 "BofA plans a reshuffle" by Dan Fitzpatrick says Tom Montage the co-coo will name Christain Meissner to be the sole head of its investment banking operation. He has no ties to the charlotte based bank or the old Merrill Lynch.

Boeing BA $74.55 -0.76 1.01% 4,745,440 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Inv. Bus. Daily pA6 "Airlines discovering leasing planes is cheaper than buying "by Vance Cariaga says Air Lease in Dec closed a $1.2 bil order with Boeing to buy 8 more planes, it already has 79 aircraft which it leases to 49 airlines in 30 countries.

Caterpillar CAT $111.28 -0.03 0.03% 7,826,752 NYSE: WSJ pB1 "Lockout tests union's clout" by James Hagerty says Caterpillar has locked out 450 workers at a locomotive factory in London, Ontario.

Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE: Daily Report p9 "2nd Circ faults US dist judge's attempt to block $17 bil judgment vs Chevron" by Mark Hamblett discusses the appellate court's ruling dismissing the declaratory judgment for Chevron involving environmental claims in Ecuador.

Cisco CSCO $19.56 -0.27 1.36% 43,538,596 NASDAQ-GS: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Coke KO $67.44 -0.57 0.84% 8,387,548 NYSE: No mentions found.

Disney DIS $39.25 -0.10 0.25% 9,573,480 NYSE: No mentions found.

DuPont DD $50.72 -0.22 0.43% 6,744,091 NYSE: No mentions found.

Exxon XOM $85.83 -0.94 1.08% 15,976,476 NYSE: WSJ pB3 "Exxon Mobil to unload its subsidiary in Japan" by Paul Baylis, NYT pB7 "Exxon Mobil agrees to sell unit in Japan" by Michael J. de la Merced", USA Today p1B "Exxon to sell Japanese unit in $3.9 bil deal" say XOm will sell its refining & marketing business to partner TonenGeneral Sekiyu and Exxon's stake in TonenGeneral will fall to 22% from 50%.

WSJ pB2 "Happening this week", NYT pB2 "Corporate Earnings" says on Tues Exxon and Pfizer report and on Thurs Merck reports.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walmart, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

GE $19.03 -0.04 0.21% 32,513,821 NYSE: USA Today p2B "How does GE's int'l strategy help in USA" by Kathy Chu is an interview with GE's vice chair and heald of global opeations John Rice who says GE's int'l strategy benefits its US operations.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Hewlett-Packard HPQ $27.88 -0.11 0.39% 11,894,256 NYSE: No mentions found.

Home Depot HD $44.87 -0.08 0.18% 7,886,300 NYSE: No mentions found.

Intel INTC $26.73 -0.02 0.07% 50,580,837 NASDAQ-GS: Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

IBM $190.46 -0.52 0.27% 3,357,357 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

JPMorgan JPM $37.21 -0.28 0.75% 27,498,266 NYSE: WSJ pC1 "Banks seek a direction" by Jon Cheng says Bank of America the worst performing member of the Dow last year is up 31% and JUPMorgan is up 12%.

NYT pB1 "US banks tally exposure to Europe's maelstrom" by Pete Eavis says five large US banks including JPMorgan and Bank of America have more than $80 bill of exposure to Italy, Spain, Portugal, Ireland and Greece, the most stressed nations in the Euro zone.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Johnson & Johnson JNJ $65.56 -0.14 0.21% 10,417,203 NYSE: No mentions found.

Kraft KFT $38.47 -0.13 0.34% 6,794,493 NYSE: No mentions found.

McDonald's MCD $98.69 -0.49 0.49% 5,124,355 NYSE: Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

Barron's p16 "CEO Spotlight David Novak" by Lawrence Strauss interviews the CEO of Yum! Brands who says that in 1989 McDonald's made a foray into pizza.

Merck MRK $38.52 -0.26 0.67% 12,119,824 NYSE: NYT pB2 "Corporate Earnings" says on Tues Exxon and Pfizer report and on Thurs Merck reports.

Barron's p15 "Week preview" says on Thursday Merck reports earnings.

Inv. Bus. Daily pA9 "Biomeds reach for critical mass" by Marilyn Alva says last year 2 new hepatitis C drugs from Vertex and Merck spurred excitement in the market.

Microsoft MSFT $29.23 -0.27 0.92% 44,184,878 NASDAQ-GS: Barron's p9 "Just too much money" by Michael Santoli says Microsoft initiated a dividend in early '03 but its stock has done little since then.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Pfizer PFE $21.48 -0.15 0.69% 132,871,584 NYSE: Fin times p20 "Pfizer", NYT pB2 "Corporate Earnings" say on Tues Exxon and Pfizer report and on Thurs Merck reports. FT says analysts wonder if Pfizer will continue its run of strong profit and rev growth in spite of the patent expiration of Lipitor.

Procter & Gamble PG $64.3 -0.50 0.77% 10,979,911 NYSE:

3M MMM $87.46 -0.12 0.14% 3,747,183 NYSE:

Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE: No mentions found.

United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE: No mentions found.

Verizon VZ $37.21 -0.13 0.35% 17,108,888 DualListed:

Walmart WMT $60.71 -0.26 0.43% 6,286,485 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

******************************
Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

***************************
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

1/29/12 Sun/Sat Barron's Positive on Amex, Boeing, Exxon, MSFT, JPM

2012-01-29T08:21:00.001-05:00

www.DowJonesMonitor.com

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Post No. 1,446 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

A read of the print editions of Monday's Barron's and Investor's Business Daily, the combined Sat/Sun issues of Wall St. Journal & Financial Times, and Sunday's and Saturday's New York Times and 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 symbol and Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 12,660.46 down 74.14 or 0.58% from Thursday's close of 12,734.63. For the week the Dow is down 60.02 or 0.47% from last Friday's close of 12,720.48. For the year the Dow is up 3.63%. Of the 30 Dow components 2 gained and 28 declined. The biggest gainer dollar-wise was United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE and percentage-wise was Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE. The biggest decliner dollar-wise and percentage-wise was Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE.

Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Sat NYT pB7 "Dow posts first losing week of '12, but is still up for year" by AP says the stock market closed mixed Fri after the gov reported that economic growth was slower at the end of last year thane economists expected. Chevron fell 2.47% the most of the Dow after its quarterly profit and rev came in well below analysts expectations as oil & natural gas production declined. Procter & Gamble fell 0.77% after cutting its earnings outlook.

Inv. Bus. Daily pA1 "Internet stocks perk up on mixed day for indexes" by Paul Whitfield says stocks waged a quiet battle for small stakes Fri as the indexes finished mixed in declining volume. The current market outlook is a confirmed uptrend.

As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B6 of Saturday's Wall St. Journal is 0.132129493. Saturday's trailing P/E ratio is 13.98 up from Friday's trailing P/E ratio of 14.02 (year ago it was 14.49); Saturday's P/E estimate is 12.15 up from yesterday's P/E estimate of 12.05 (year ago it was 12.63), and today's dividend yield is 2.53 up from yesterday's dividend yield of 2.51 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. 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 closing numerator was 1,672.82 down 9.80 from Thursday's closing numerator of 1,682.62. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $55.76 down $0.33 from Thursday's average closing price of $56.09. The median closing price of Friday's Dow Jones Industrial Average was $47.36 (AXP/HD) down $0.11 from Thursday's median closing price of $47.47. The lowest volume was Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE and the highest volume again was Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE.

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) and sold at the close you would have lost $98 ($168,270 - $167,282).

MarketWatch Friday 1/27/12 4:54 pm by Kate Gibson says U.S. stocks on Friday finished mostly lower, but a late surge in financial shares helped the S&P 500 preserve a fourth week of gains after the White House said it would expand a foreclosure-prevention program and hope grew for a Greek debt-deal. “The big news the last couple of weeks is the program they launched over in Europe, the lending facility to the banking system, seems to be working,” said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank. For much of the session, the financial sector reversed course in the final hour of trade as the White House said it would loosen rules on a loan-modification program. The sector also drew a late lift from reports that Facebook plans a much-anticipated Initial public offering next week, with the Wall Street Journal reporting investment banks Morgan Stanley MS +0.32% and Goldman Sachs GS -0.93% would participate. Both stocks closed near their highs of the session. Currencies are a major factor for the Asia-Pacific economies, and forex moves may determine whether the region remains the world's growth engine. Check out these briefings on four key Asian currencies and where they may be headed. India's currency suffered a heavy drop late last year, and some believe the culprit may be gold. Up 3.6% for the month to date, the Dow Jones Industrial Average DJIA -0.58% lost 74.17 points, or 0.6%, to end at 12,660.46, down 0.5% for its first weekly loss in four. Chevron Corp. CVX +0.18% shares were among those weighing on the blue-chip index, down 2.5%, after the oil major reported a drop in profit that also fell short of estimates. Up 4.7% for the year so far, the S&P 500 Index /SPX -0.16% shifted briefly higher and ended the day down 2.1 points, or 0.2%, at 1,316.33, up 0.1% from the week-ago close. Component Ford Motor Co. F -0.08% reported its 11th straight profitable quarter, but the auto maker’s results came in below predictions, and its shares were down 4.2%. “This earnings season hasn’t been nearly as robust as the last couple; there’s a bias toward companies beating versus missing, which is reflecting a slow-growing economy,” according to Fitzpatrick. Up 1.1% for the week, the Nasdaq Composite Index /quotes/zigman/123127 COMP +0.40% added 11.27 points, or 0.4%, at 2,816.55, with the index up 8.1% for the month and year so far. For every stock on the decline nearly two gained on the New York Stock Exchange, where nearly 851 million shares traded. “We’ve had such a good run, one of the strongest we’ve had in a long time from the start of the year, so we’re overdue,” said Fitzpatrick of the late-week decline in equities. Facebook could file IPO paperwork as early as Wednesday of next week, and Morgan Stanley is close to winning the "lead left" position in the IPO. Facebook has been valued between $75 and $100 Billion dollars. “There are a lot of bullish surveys, which is usually a clear sign that things are going to correct,” he added. U.S. stocks had started mostly lower after the U.S. government said the economy grew 2.8% in 2011’s final quarter, less than the 3% predicted by analysts surveyed by MarketWatch. A rise in consumer confidence had equities only briefly trimming their decline. The Thomson Reuters/University of Michigan final index of consumer sentiment for January climbed to 75 from 69.9 at the end of December. Fitch Ratings on Friday afternoon cut the credit ratings of Spain, Italy, Belgium, Cyprus and Slovenia, saying the five nations do not hold enough financial leverage amid the regional debt crisis. The downgrades, which Fitch warned of in December, came as negotiators for private creditors headed back to Athens for talks on a debt swap to reduce Greece’s borrowings and avoid a possible default. “We all know it’s just a matter of getting everyone lined up in terms of getting private investors to take a haircut, and here domestically, things have been headed in the right direction,” said Fitzpatrick at Deutsche Bank. “The program they launched over in Europe, the lending facility to the banking system, seems to be working, with yields on Spain and Italy’s sovereign debt making substantial moves in the right direction.” “The one exception is Portugal, which seems to be headed in the wrong direction and is up another 38 basis points today,” he added.

Friday's Closing Dow Numbers and Sunday's/Saturday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $29.16 -0.29 0.98% 36,357,419 NYSE: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE: Barron's pM10 "A triumph of strategy over hope" by Steven Sears says a good strategy might be to sell Feb calls that are 10% out of the money on Alcoa.

American Express AXP $49.85 -0.13 0.26% 5,376,097 NYSE:Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE: WSJ pB2 "Hope is rising for mortgage accord" by Alan Zibel says JPMorgan, Bank of America and other large mortgage servicers may still settle with the states' attorneys general over mortgage practices.

Boeing BA $74.55 -0.76 1.01% 4,745,440 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Inv. Bus. Daily pA6 "Airlines discovering leasing planes is cheaper than buying "by Vance Cariaga says Air Lease in Dec closed a $1.2 bil order with Boeing to buy 8 more planes, it already has 79 aircraft which it leases to 49 airlines in 30 countries.

Caterpillar CAT $111.28 -0.03 0.03% 7,826,752 NYSE: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE: Sat NYT pB7 "Dow posts first losing week of '12, but is still up for year" by AP, Sat NYT pB2 "Profit slips for Chevron, disappointing analysts" say the stock market closed mixed Fri after the gov reported that economic growth was slower at the end of last year thane economists expected. Chevron fell 2.47% the most of the Dow after its quarterly profit and rev came in well below analysts expectations as oil & natural gas production declined. Procter & Gamble fell 0.77% after cutting its earnings outlook.

Cisco CSCO $19.56 -0.27 1.36% 43,538,596 NASDAQ-GS: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Coke KO $67.44 -0.57 0.84% 8,387,548 NYSE: No mentions found.

Disney DIS $39.25 -0.10 0.25% 9,573,480 NYSE: No mentions found.

DuPont DD $50.72 -0.22 0.43% 6,744,091 NYSE: No mentions found.

Exxon XOM $85.83 -0.94 1.08% 15,976,476 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walmart, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

GE $19.03 -0.04 0.21% 32,513,821 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Hewlett-Packard HPQ $27.88 -0.11 0.39% 11,894,256 NYSE: No mentions found.

Home Depot HD $44.87 -0.08 0.18% 7,886,300 NYSE: No mentions found.

Intel INTC $26.73 -0.02 0.07% 50,580,837 NASDAQ-GS: Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

IBM $190.46 -0.52 0.27% 3,357,357 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

JPMorgan JPM $37.21 -0.28 0.75% 27,498,266 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

WSJ pB2 "Hope is rising for mortgage accord" by Alan Zibel says JPMorgan, Bank of America and other large mortgage servicers may still settle with the states' attorneys general over mortgage practices.

Johnson & Johnson JNJ $65.56 -0.14 0.21% 10,417,203 NYSE: No mentions found.

Kraft KFT $38.47 -0.13 0.34% 6,794,493 NYSE: No mentions found.

McDonald's MCD $98.69 -0.49 0.49% 5,124,355 NYSE: WSJ pA13 "What Pepsi can learn from McDonald's" by Holman Jenkins says McDonald's has done a turn around by responding to critics who say its food is unhealthy.

Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

Barron's p16 "CEO Spotlight David Novak" by Lawrence Strauss interviews the CEO of Yum! Brands who says that in 1989 McDonald's made a foray into pizza.

Merck MRK $38.52 -0.26 0.67% 12,119,824 NYSE: Barron's p15 "Week preview" says on Thursday Merck reports earnings.

Inv. Bus. Daily pA9 "Biomeds reach for critical mass" by Marilyn Alva says last year 2 new hepatitis C drugs from Vertex and Merck spurred excitement in the market.

Microsoft MSFT $29.23 -0.27 0.92% 44,184,878 NASDAQ-GS: Barron's p9 "Just too much money" by Michael Santoli says Microsoft initiated a dividend in early '03 but its stock has done little since then.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Pfizer PFE $21.48 -0.15 0.69% 132,871,584 NYSE: No mentions found.

Procter & Gamble PG $64.3 -0.50 0.77% 10,979,911 NYSE: Fin Times p8 "P&g plans 1,600 job cuts after earnings blow" by Barney Jopson, WSJ pB3 "P&G profit slumps 49%" by Paul Ziobro say P&G's net earnings fell 49% from year ago to $1.69 bil or 57 cents per share. Sales grew 4% to $22.1 bil in the quarter. Core earnings per share excluding a writedown were $1.10 per share below Wall St. expectations of $1.08 but it cut its earnings forecast for the current fin'l year due to the strong dollar.

Sat NYT pB7 "Dow posts first losing week of '12, but is still up for year" by AP says the stock market closed mixed Fri after the gov reported that economic growth was slower at the end of last year thane economists expected. Chevron fell 2.47% the most of the Dow after its quarterly profit and rev came in well below analysts expectations as oil & natural gas production declined. Procter & Gamble fell 0.77% after cutting its earnings outlook.

3M MMM $87.46 -0.12 0.14% 3,747,183 NYSE: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE: No mentions found.

United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE: No mentions found.

Verizon VZ $37.21 -0.13 0.35% 17,108,888 DualListed: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Walmart WMT $60.71 -0.26 0.43% 6,286,485 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

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Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

1/28/12 Sat Procter & Gamble's Income Fell 49%

2012-01-28T09:15:00.007-05:00

www.DowJonesMonitor.com

The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.

Post No. 1,445 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

A read of the print editions of Mondday's Barron's and Investor's Business Daily, the combined Sat/Sun issues of Wall St. Journal & Financial Times, and Saturday's New York Times and 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 symbol and Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 12,660.46 down 74.14 or 0.58% from Thursday's close of 12,734.63. For the week the Dow is down 60.02 or 0.47% from last Friday's close of 12,720.48. For the year the Dow is up 3.63%. Of the 30 Dow components 2 gained and 28 declined. The biggest gainer dollar-wise was United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE and percentage-wise was Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE. The biggest decliner dollar-wise and percentage-wise was Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE.

Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Sat NYT pB7 "Dow posts first losing week of '12, but is still up for year" by AP says the stock market closed mixed Fri after the gov reported that economic growth was slower at the end of last year thane economists expected. Chevron fell 2.47% the most of the Dow after its quarterly profit and rev came in well below analysts expectations as oil & natural gas production declined. Procter & Gamble fell 0.77% after cutting its earnings outlook.

Inv. Bus. Daily pA1 "Internet stocks perk up on mixed day for indexes" by Paul Whitfield says stocks waged a quiet battle for small stakes Fri as the indexes finished mixed in declining volume. The current market outlook is a confirmed uptrend.

As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B6 of Saturday's Wall St. Journal is 0.132129493. Saturday's trailing P/E ratio is 13.98 up from Friday's trailing P/E ratio of 14.02 (year ago it was 14.49); Saturday's P/E estimate is 12.15 up from yesterday's P/E estimate of 12.05 (year ago it was 12.63), and today's dividend yield is 2.53 up from yesterday's dividend yield of 2.51 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05. AT&T is charted under Bad news as a charge for the failed takeover of T-Mobile contributed to a quarterly loss.

Friday's Dow Jones Industrial Average closing numerator was 1,672.82 down 9.80 from Thursday's closing numerator of 1,682.62. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $55.76 down $0.33 from Thursday's average closing price of $56.09. The median closing price of Friday's Dow Jones Industrial Average was $47.36 (AXP/HD) down $0.11 from Thursday's median closing price of $47.47. The lowest volume was Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE and the highest volume again was Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE.

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) and sold at the close you would have lost $98 ($168,270 - $167,282).

MarketWatch Friday 1/27/12 4:54 pm by Kate Gibson says U.S. stocks on Friday finished mostly lower, but a late surge in financial shares helped the S&P 500 preserve a fourth week of gains after the White House said it would expand a foreclosure-prevention program and hope grew for a Greek debt-deal. “The big news the last couple of weeks is the program they launched over in Europe, the lending facility to the banking system, seems to be working,” said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank. For much of the session, the financial sector reversed course in the final hour of trade as the White House said it would loosen rules on a loan-modification program. The sector also drew a late lift from reports that Facebook plans a much-anticipated Initial public offering next week, with the Wall Street Journal reporting investment banks Morgan Stanley MS +0.32% and Goldman Sachs GS -0.93% would participate. Both stocks closed near their highs of the session. Currencies are a major factor for the Asia-Pacific economies, and forex moves may determine whether the region remains the world's growth engine. Check out these briefings on four key Asian currencies and where they may be headed. India's currency suffered a heavy drop late last year, and some believe the culprit may be gold. Up 3.6% for the month to date, the Dow Jones Industrial Average DJIA -0.58% lost 74.17 points, or 0.6%, to end at 12,660.46, down 0.5% for its first weekly loss in four. Chevron Corp. CVX +0.18% shares were among those weighing on the blue-chip index, down 2.5%, after the oil major reported a drop in profit that also fell short of estimates. Up 4.7% for the year so far, the S&P 500 Index /SPX -0.16% shifted briefly higher and ended the day down 2.1 points, or 0.2%, at 1,316.33, up 0.1% from the week-ago close. Component Ford Motor Co. F -0.08% reported its 11th straight profitable quarter, but the auto maker’s results came in below predictions, and its shares were down 4.2%. “This earnings season hasn’t been nearly as robust as the last couple; there’s a bias toward companies beating versus missing, which is reflecting a slow-growing economy,” according to Fitzpatrick. Up 1.1% for the week, the Nasdaq Composite Index /quotes/zigman/123127 COMP +0.40% added 11.27 points, or 0.4%, at 2,816.55, with the index up 8.1% for the month and year so far. For every stock on the decline nearly two gained on the New York Stock Exchange, where nearly 851 million shares traded. “We’ve had such a good run, one of the strongest we’ve had in a long time from the start of the year, so we’re overdue,” said Fitzpatrick of the late-week decline in equities. Facebook could file IPO paperwork as early as Wednesday of next week, and Morgan Stanley is close to winning the "lead left" position in the IPO. Facebook has been valued between $75 and $100 Billion dollars. “There are a lot of bullish surveys, which is usually a clear sign that things are going to correct,” he added. U.S. stocks had started mostly lower after the U.S. government said the economy grew 2.8% in 2011’s final quarter, less than the 3% predicted by analysts surveyed by MarketWatch. A rise in consumer confidence had equities only briefly trimming their decline. The Thomson Reuters/University of Michigan final index of consumer sentiment for January climbed to 75 from 69.9 at the end of December. Fitch Ratings on Friday afternoon cut the credit ratings of Spain, Italy, Belgium, Cyprus and Slovenia, saying the five nations do not hold enough financial leverage amid the regional debt crisis. The downgrades, which Fitch warned of in December, came as negotiators for private creditors headed back to Athens for talks on a debt swap to reduce Greece’s borrowings and avoid a possible default. “We all know it’s just a matter of getting everyone lined up in terms of getting private investors to take a haircut, and here domestically, things have been headed in the right direction,” said Fitzpatrick at Deutsche Bank. “The program they launched over in Europe, the lending facility to the banking system, seems to be working, with yields on Spain and Italy’s sovereign debt making substantial moves in the right direction.” “The one exception is Portugal, which seems to be headed in the wrong direction and is up another 38 basis points today,” he added.

Friday's Closing Dow Numbers and Saturday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $29.16 -0.29 0.98% 36,357,419 NYSE: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE: Barron's pM10 "A triumph of strategy over hope" by Steven Sears says a good strategy might be to sell Feb calls that are 10% out of the money on Alcoa.

American Express AXP $49.85 -0.13 0.26% 5,376,097 NYSE:Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE: WSJ pB2 "Hope is rising for mortgage accord" by Alan Zibel says JPMorgan, Bank of America and other large mortgage servicers may still settle with the states' attorneys general over mortgage practices.

Boeing BA $74.55 -0.76 1.01% 4,745,440 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Inv. Bus. Daily pA6 "Airlines discovering leasing planes is cheaper than buying "by Vance Cariaga says Air Lease in Dec closed a $1.2 bil order with Boeing to buy 8 more planes, it already has 79 aircraft which it leases to 49 airlines in 30 countries.

Caterpillar CAT $111.28 -0.03 0.03% 7,826,752 NYSE: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE: Sat NYT pB7 "Dow posts first losing week of '12, but is still up for year" by AP, Sat NYT pB2 "Profit slips for Chevron, disappointing analysts" say the stock market closed mixed Fri after the gov reported that economic growth was slower at the end of last year thane economists expected. Chevron fell 2.47% the most of the Dow after its quarterly profit and rev came in well below analysts expectations as oil & natural gas production declined. Procter & Gamble fell 0.77% after cutting its earnings outlook.

Cisco CSCO $19.56 -0.27 1.36% 43,538,596 NASDAQ-GS: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Coke KO $67.44 -0.57 0.84% 8,387,548 NYSE:

Disney DIS $39.25 -0.10 0.25% 9,573,480 NYSE:

DuPont DD $50.72 -0.22 0.43% 6,744,091 NYSE:

Exxon XOM $85.83 -0.94 1.08% 15,976,476 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walmart, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

GE $19.03 -0.04 0.21% 32,513,821 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Hewlett-Packard HPQ $27.88 -0.11 0.39% 11,894,256 NYSE:

Home Depot HD $44.87 -0.08 0.18% 7,886,300 NYSE:

Intel INTC $26.73 -0.02 0.07% 50,580,837 NASDAQ-GS: Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

IBM $190.46 -0.52 0.27% 3,357,357 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

JPMorgan JPM $37.21 -0.28 0.75% 27,498,266 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

WSJ pB2 "Hope is rising for mortgage accord" by Alan Zibel says JPMorgan, Bank of America and other large mortgage servicers may still settle with the states' attorneys general over mortgage practices.

Johnson & Johnson JNJ $65.56 -0.14 0.21% 10,417,203 NYSE:

Kraft KFT $38.47 -0.13 0.34% 6,794,493 NYSE:

McDonald's MCD $98.69 -0.49 0.49% 5,124,355 NYSE: WSJ pA13 "What Pepsi can learn from McDonald's" by Holman Jenkins says McDonald's has done a turn around by responding to critics who say its food is unhealthy.

Barron's p20 "Just don't lose it" by Kopin Tan says Bahl & Gaynor screens for firms that pay a yield of at least 2% and have raised dividends in at least 2 of the past 5 years and among them are McDonald's and Intel.

Barron's p16 "CEO Spotlight David Novak" by Lawrence Strauss interviews the CEO of Yum! Brands who says that in 1989 McDonald's made a foray into pizza.

Merck MRK $38.52 -0.26 0.67% 12,119,824 NYSE: Barron's p15 "Week preview" says on Thursday Merck reports earnings.

Inv. Bus. Daily pA9 "Biomeds reach for critical mass" by Marilyn Alva says last year 2 new hepatitis C drugs from Vertex and Merck spurred excitement in the market.

Microsoft MSFT $29.23 -0.27 0.92% 44,184,878 NASDAQ-GS: Barron's p9 "Just too much money" by Michael Santoli says Microsoft initiated a dividend in early '03 but its stock has done little since then.

Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

Pfizer PFE $21.48 -0.15 0.69% 132,871,584 NYSE:

Procter & Gamble PG $64.3 -0.50 0.77% 10,979,911 NYSE: Fin Times p8 "P&g plans 1,600 job cuts after earnings blow" by Barney Jopson, WSJ pB3 "P&G profit slumps 49%" by Paul Ziobro say P&G's net earnings fell 49% from year ago to $1.69 bil or 57 cents per share. Sales grew 4% to $22.1 bil in the quarter. Core earnings per share excluding a writedown were $1.10 per share below Wall St. expectations of $1.08 but it cut its earnings forecast for the current fin'l year due to the strong dollar.

Sat NYT pB7 "Dow posts first losing week of '12, but is still up for year" by AP says the stock market closed mixed Fri after the gov reported that economic growth was slower at the end of last year thane economists expected. Chevron fell 2.47% the most of the Dow after its quarterly profit and rev came in well below analysts expectations as oil & natural gas production declined. Procter & Gamble fell 0.77% after cutting its earnings outlook.

3M MMM $87.46 -0.12 0.14% 3,747,183 NYSE: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE:

United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE:

Verizon VZ $37.21 -0.13 0.35% 17,108,888 DualListed: Fin Times p11 "S&P 500 retreats after foray into bull territory" by Ajay Makan says 4Q earnings season gathered momentum this week but macroeconomic news moved the market; the S&P 500 closed in bull market territory on Wed as the Fed Res forecast prolonged low interest rates, but the index retreated on Fri as US growth figures came in in beneath expectations. Verizon fell 4.5% and AT&T was off 4.4% as both reported unexpectedly large payments to their pension funds. Pension contributions also sapped margins at 3M although shares in 3M climbed 2.1% on strong earnings. Caterpillar was up 5.3% as it gave a bullish forecast for spending on US construction.

Walmart WMT $60.71 -0.26 0.43% 6,286,485 NYSE: Barron's p27 "Yielding to realty" by Lauren R. Rublin is a round table and says Brian Rogers likes firms whose success has gone unnoticed by the market such as JPMorgan. Abby Joseph Cohen likes ExxonMobil due to its dividends and stock buybacks which can deliver a 7% yield. Fred Hickey predicts that Microsoft will get the respect it deserves. Abby Joseph Cohen likes Boeing, ExxonMobil, JPMorgan and American Express. Brian Rogers of T Rowe Price says Microsoft used to sell for 40 times earnings ten years ago and now is 9 times earnings. It was one of those companies like Intel, Walamrt, and GE that sold for 35 to 45 times earnings in '00. Juniper Networks is a little Cisco in the type of networking equipment it provides and is an important company to IBM. Cohen likes Boeing which trades for 14 times '12 earnings estimates and yields 2.3%.

******************************
Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

***************************
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

12/27/12 Fri. pm Dow Closes at 12,660.46 down 74.17 down 0.58%

2012-01-27T17:51:00.002-05:00

www.DowJonesMonitor.com

The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.

Post No. 1,444 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

The Dow Jones Industrial Average closed Friday at 12,660.46 down 74.14 or 0.58% from Thursday's close of 12,734.63. For the week the Dow is down 60.02 or 0.47% from last Friday's close of 12,720.48. Of the 30 Dow components 2 gained and 28 declined. The biggest gainer dollar-wise was United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE and percentage-wise was Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE. The biggest decliner dollar-wise and percentage-wise was Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE.

As of the open of the market Friday, the current divisor for the Dow Jones Industrial Average found at page C5 of Friday's Wall St. Journal is 0.132129493. Friday's trailing P/E ratio is 13.98 up from Thursday's trailing P/E ratio of 13.77 (year ago it was 14.80); Friday's P/E estimate is 12.05 unchanged from yesterday's P/E estimate of 12.05 (year ago it was 12.59), and today's dividend yield is 2.52 up from yesterday's dividend yield of 2.51 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05. AT&T is charted under Bad news as a charge for the failed takeover of T-Mobile contributed to a quarterly loss.

Friday's Dow Jones Industrial Average closing numerator was 1,672.82 down 9.80 from Thursday's closing numerator of 1,682.62. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was $55.76 down $0.33 from Thursday's average closing price of $56.09. The median closing price of Friday's Dow Jones Industrial Average was $47.36 (AXP/HD) down $0.11 from Thursday's median closing price of $47.47. The lowest volume was Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE and the highest volume again was Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE.

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) and sold at the close you would have lost $98 ($168,270 - $167,282).

MarketWatch Friday 1/27/12 4:54 pm by Kate Gibson says U.S. stocks on Friday finished mostly lower, but a late surge in financial shares helped the S&P 500 preserve a fourth week of gains after the White House said it would expand a foreclosure-prevention program and hope grew for a Greek debt-deal. “The big news the last couple of weeks is the program they launched over in Europe, the lending facility to the banking system, seems to be working,” said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank. For much of the session, the financial sector reversed course in the final hour of trade as the White House said it would loosen rules on a loan-modification program. The sector also drew a late lift from reports that Facebook plans a much-anticipated Initial public offering next week, with the Wall Street Journal reporting investment banks Morgan Stanley MS +0.32% and Goldman Sachs GS -0.93% would participate. Both stocks closed near their highs of the session. Currencies are a major factor for the Asia-Pacific economies, and forex moves may determine whether the region remains the world's growth engine. Check out these briefings on four key Asian currencies and where they may be headed. India's currency suffered a heavy drop late last year, and some believe the culprit may be gold. Up 3.6% for the month to date, the Dow Jones Industrial Average DJIA -0.58% lost 74.17 points, or 0.6%, to end at 12,660.46, down 0.5% for its first weekly loss in four. Chevron Corp. CVX +0.18% shares were among those weighing on the blue-chip index, down 2.5%, after the oil major reported a drop in profit that also fell short of estimates. Up 4.7% for the year so far, the S&P 500 Index /SPX -0.16% shifted briefly higher and ended the day down 2.1 points, or 0.2%, at 1,316.33, up 0.1% from the week-ago close. Component Ford Motor Co. F -0.08% reported its 11th straight profitable quarter, but the auto maker’s results came in below predictions, and its shares were down 4.2%. “This earnings season hasn’t been nearly as robust as the last couple; there’s a bias toward companies beating versus missing, which is reflecting a slow-growing economy,” according to Fitzpatrick. Up 1.1% for the week, the Nasdaq Composite Index /quotes/zigman/123127 COMP +0.40% added 11.27 points, or 0.4%, at 2,816.55, with the index up 8.1% for the month and year so far. For every stock on the decline nearly two gained on the New York Stock Exchange, where nearly 851 million shares traded. “We’ve had such a good run, one of the strongest we’ve had in a long time from the start of the year, so we’re overdue,” said Fitzpatrick of the late-week decline in equities. Facebook could file IPO paperwork as early as Wednesday of next week, and Morgan Stanley is close to winning the "lead left" position in the IPO. Facebook has been valued between $75 and $100 Billion dollars. “There are a lot of bullish surveys, which is usually a clear sign that things are going to correct,” he added. U.S. stocks had started mostly lower after the U.S. government said the economy grew 2.8% in 2011’s final quarter, less than the 3% predicted by analysts surveyed by MarketWatch. A rise in consumer confidence had equities only briefly trimming their decline. The Thomson Reuters/University of Michigan final index of consumer sentiment for January climbed to 75 from 69.9 at the end of December. Fitch Ratings on Friday afternoon cut the credit ratings of Spain, Italy, Belgium, Cyprus and Slovenia, saying the five nations do not hold enough financial leverage amid the regional debt crisis. The downgrades, which Fitch warned of in December, came as negotiators for private creditors headed back to Athens for talks on a debt swap to reduce Greece’s borrowings and avoid a possible default. “We all know it’s just a matter of getting everyone lined up in terms of getting private investors to take a haircut, and here domestically, things have been headed in the right direction,” said Fitzpatrick at Deutsche Bank. “The program they launched over in Europe, the lending facility to the banking system, seems to be working, with yields on Spain and Italy’s sovereign debt making substantial moves in the right direction.” “The one exception is Portugal, which seems to be headed in the wrong direction and is up another 38 basis points today,” he added.

Friday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market
AT&T T $29.16 -0.29 0.98% 36,357,419 NYSE
Alcoa AA $10.43 +0.07 0.68% 21,708,619 NYSE
American Express AXP $49.85 -0.13 0.26% 5,376,097 NYSE
Bank of America BAC $7.29 -0.01 0.14% 230,645,771 NYSE
Boeing BA $74.55 -0.76 1.01% 4,745,440 NYSE
Caterpillar CAT $111.28 -0.03 0.03% 7,826,752 NYSE
Chevron CVX $103.96 -2.63 2.47% 10,578,800 NYSE
Cisco CSCO $19.56 -0.27 1.36% 43,538,596 NASDAQ-GS
Coke KO $67.44 -0.57 0.84% 8,387,548 NYSE
Disney DIS $39.25 -0.10 0.25% 9,573,480 NYSE
DuPont DD $50.72 -0.22 0.43% 6,744,091 NYSE
Exxon XOM $85.83 -0.94 1.08% 15,976,476 NYSE
GE $19.03 -0.04 0.21% 32,513,821 NYSE
Hewlett-Packard HPQ $27.88 -0.11 0.39% 11,894,256 NYSE
Home Depot HD $44.87 -0.08 0.18% 7,886,300 NYSE
Intel INTC $26.73 -0.02 0.07% 50,580,837 NASDAQ-GS
IBM $190.46 -0.52 0.27% 3,357,357 NYSE
JPMorgan JPM $37.21 -0.28 0.75% 27,498,266 NYSE
Johnson & Johnson JNJ $65.56 -0.14 0.21% 10,417,203 NYSE
Kraft KFT $38.47 -0.13 0.34% 6,794,493 NYSE
McDonald's MCD $98.69 -0.49 0.49% 5,124,355 NYSE
Merck MRK $38.52 -0.26 0.67% 12,119,824 NYSE
Microsoft MSFT $29.23 -0.27 0.92% 44,184,878 NASDAQ-GS
Pfizer PFE $21.48 -0.15 0.69% 132,871,584 NYSE
Procter & Gamble PG $64.3 -0.50 0.77% 10,979,911 NYSE
3M MMM $87.46 -0.12 0.14% 3,747,183 NYSE
Travelers TRV $58.05 -0.65 1.11% 3,558,497 NYSE
United Technologies UTX $77.62 +0.21 0.27% 4,073,520 NYSE
Verizon VZ $37.21 -0.13 0.35% 17,108,888 DualListed
Walmart WMT $60.71 -0.26 0.43% 6,286,485 NYSE

************************
The following are excerpts from Friday morning's Blog.

A read of the print editions of Friday's Wall St. 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 symbol and Thursday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Thursday at 12,734.63 down 22.33 or 0.18% from Wednesday's close of 12,758.85. For the year the Dow is up 4.23%. Of the 30 Dow components 24 gained and 6 declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $111.31 +2.26 2.07% 18,517,144 NYSE. The biggest decliner dollar-wise was AT&T T $29.45 -0.76 2.52% 55,980,811 and percentage-wise was Chevron CVX $106.59 -1.14 1.06% 6,991,718 NYSE.

WSJ pC4 "Stocks enthusiasm wanes" by Christian Berthelsen says stocks slid in a late day selloff after a round of disappointing economic data overshadowed strong earnings from blue chips & the Fed Res' pledge to hold interest rates. All 3 measures started higher due to strong earnigns report from Caterpillar and 3M as well as early economic releases that were bullish for markets. WSJ pC12 "Banks' zero tolerance is tested by the Fed" by David Reilly says the Fed has had a zero interest rate policy since Dec '08 and this has pressured banks' profits. JPMorgan says that a 1% rise in interest rates would boost pretax earnings over 12 months by $2.5 bil. Bank of America says their interest income would rise by $1.4 bil.

Inv. Bus. Daily pA1 "leaders roughed up as stocks reverse" by Paul Whitfield says the market hammered many leading stocks Thurs as indexes erased early gains and closed lower. Thursday's action was "reverses lower, volume up" as the current outlook is the market is in a confirmed uptrend.

NYT pB7 "markets fall as bank shares and home sales decline" by Bloomberg says stocks fell reversing a rally that sent the Dow toward its highest level since '08 after bank shares tumbled & a report showed that sales of new homes declined unexpectedly.

Fin Times p22 "Netflix stages dramatic recovery after surge in subscriber numbers" by Ajay Makan says Netflix surged as its delivery business added 600,000 subscribers in 4Q. AT&T fell 2.5 as it posted a 4Q loss despite surging smartphone sales.

USA Today p4B "Markets fall back as banks falter, home sales slump" by Bloomberg says stocks fell Thurs reversing an earlier rally that sent the Dow toward its highest level since '08 as banks tumbled & a report showed that sales of new homes unexpectedly slumped.

Thursday's Dow Jones Industrial Average closing numerator was 1,682.62 down 3.2 from Wednesday's closing numerator of 1,685.82. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was $56.09 down $0.10 from Wednesday's average closing price of $56.19. The median closing price of Thursday's Dow Jones Industrial Average was $47.47 (AXP/HD) down $0.26 from Wedneday's median closing price of $47.73. The lowest volume was Travelers TRV $58.7 -0.45 0.76% 4,047,937 NYSE and the highest volume again was Bank of America BAC $7.3 -0.05 0.68% 264,255,811 NYSE.

If Thursday 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) and sold at the close you would have lost $320 ($168,582 - 168,270).

MarketWatch Thursday 1/26/12 4:19 pm by Kate Gibson says U.S. stocks lost Thursday’s gains after new-home sales unexpectedly declined last month, marking the slowest year for builders since the government began tracking the data. The market’s disappointment in the Commerce Department data showed the “enthusiasm we’re seeing is not complete insanity yet,” said Bruce McCain, chief investment strategist at Key Private Bank. “Investor enthusiasm and optimism seems to be as high as [they’ve] been for years, and it just doesn’t seem to be justified in terms of the economic and fundamental realities,” McCain said. AT&T posted a nearly $6.7 billion loss as it booked several large charges, but telecommunications giant's revenue rose 3.6% on continued subscriber growth, Anton Troianovski reports on Markets Hub. After rising more than 84 points, the Dow Jones Industrial Average DJIA -0.18% ended off 22.33 points, or 0.2%, at 12,734.63. Caterpillar Inc. CAT -.00% led blue-chip gains that included just six of its 30 components. The heavy-equipment maker gained 2.1% after topping analysts’ estimates last quarter. AT&T Inc. T -2.52% fell 2.5%, the most among the Dow-30, with the telecom reporting a $6.7 billion quarterly loss related to its failed merger with T-Mobile USA. The S&P 500 SPX -0.58% fell 7.63 points, or 0.6%, to 1,318.43, with telecommunications services the greatest laggard and natural-resource companies the only advancing sector among its 10 industry groups. The Nasdaq Composite COMP -0.46% lost 13.03 points, or 0.5%, to close at 2,805.28. Decliners edged just past advancers on the New York Stock Exchange, where 866.5 million shares traded hands. The Commerce Department said U.S. sales of new homes fell 2.2% in December to a seasonally adjusted annual rate of 307,000. For all of 2011, sales of new homes fell 6.2% to 302,000 -- the worst on record. Ahead of the home-sales report, investors had warmly greeted a round of better-than-expected earnings from companies including Caterpillar and economic reports that had jobless claims remaining under 400,000. Netflix soars on earnings newsThe latest markets and money news from Ann Cates, including a rally in recently downtrodden Netflix and a jump in demand for big-ticket items. “Jobless claims are basically on track with what we’ve seen, it’s a good number, but not outstanding,” said McCain at Key Private Bank. Also bolstering sentiment, data from the Commerce Department had orders for U.S. durable goods rising 3% in December. While “encouraging,” it remains to be seen how much a tax-break that expired at the end of the year had to do with corporate purchases of long-lasting goods, McCain said. Wall Street’s higher close on Wednesday had the Dow industrials hitting its highest close since May 10, while the S&P 500 advanced for its 13th session so far this year, with the broad-market gauge so far losing ground on only three trading days for 2012.

Thursday's Closing Dow Numbers and Friday's News:

Symbol Last Sale Change % Change Share Volume Market
AT&T T
$29.45 -0.76 2.52% 55,980,811 NYSE: NYT pB2 "AT&T in $6.7 bil loss on failure of T-Mobile deal" by Jenna Wortham, Fin times p14 "AT&T renews attack on watchdogs for blocked bid" by Andrew Edgecliffe-Johnson, USA Today p1B "AT&T", AJC pA15 "AT&T: increase wireless capacity" by Kristi Swartz say AT&T had its first quarterly loss in 3 years due to T-Mobile deal. It had a $6.68 bil 4Q loss vs $1.09 bil profit last year. AT&T's '11 net income was $3.9 bil or 66 cents a share vs $19.9 bil or $3.35 for '10. Rev for '11 rose 2% to $126.7 bil.

WSJ pB1 "Confessions of an iPhone data hog" by Walla Plank says AT&T sent out an email to the top 5% of the heaviest data users warning about using some much data.

Inv. Bus. Daily pA4 "Wireless tower firms heightened by trends" by Reinhardt Krause looks at the shares of cellphone tower operators who serve the telecom carriers such as AT&T, Verizon and Sprint.

Fin Times p22 "Netflix stages dramatic recovery after surge in subscriber numbers" by Ajay Makan says Netflix surged as its delivery business added 600,000 subscribers in 4Q. AT&T fell 2.5 as it posted a 4Q loss despite surging smartphone sales.

Alcoa AA
$10.36 -0.12 1.15% 27,146,913 NYSE: No mentions found.

American Express AXP
$49.98 -0.19 0.38% 6,217,191 NYSE: No mentions found.

Bank of America BAC
$7.3 -0.05 0.68% 264,255,811 NYSE: WSJ pC12 "Banks' zero tolerance is tested by the Fed" by David Reilly says the Fed has had a zero interest rate policy since Dec '08 and this has pressured banks' profits. JPMorgan says that a 1% rise in interest rates would boost pretax earnings over 12 months by $2.5 bil. Bank of America says their interest income would rise by $1.4 bil.

Inv. Bus. Dialy pA10 States stall on foreclosure settlement" by AP says Cal is holding up a settlement among state Attorneys General with banks including BofA and JPMorgan over their foreclosure practices.

Boeing BA
$75.31 -0.51 0.67% 4,185,109 NYSE: Inv. Bus. Daily pA9 Acquisitions help aircraft parts maker's profits take off" by Marie Beerens says as Boeing and Airbus address the largest backlog in history, production rates in the comm'l equipment manufacturing sector are expected to go up 40% over the next few years.

Fin times p16 "Boeing gains altitude after record orders" by hal Weitzman says Boeing struck a deal this week with Norwegian Air Shuttle to buy 122 737 aircraft worth $11.4 bil.

Caterpillar CAT
$111.31 +2.26 2.07% 18,517,144 NYSE: WSJ pB3 "Caterpillar builds optimism" by James Hagerty, WSJ pA3 "Businesses ramp up spending on goods" by Josh Mitchell, Inv. Bus. Daily pA1 "Cat guides higher; 3M beats", NYT pB4 "Gaining 60%, Caterpillar is upbeat" by AP, Fin times p11 "Top N. Ameri industrial groups forecast strong US growth" by hal Weitzman, USA Today p1B "Caterpillar", AJC pA16 "Caterpillar anticipates continued growth" say Caterpillar's 4Q profit jumped 60% boosted by demand for replacement equipment and good growth in developing nations. Caterpillar's overall 4Q profit was $1.55 bil or $2.32 a share vs $968 mil or $1.47 a year earlier. Sales & rev, including finance business, increased 34% to $17.24 bil.

Chevron CVX
$106.59 -1.14 1.06% 6,991,718 NYSE: WSJ pB5 "Oil giant dealt setback in Ecudador judgment" by Chad Bray, USA Today p1B "Appeals court ruling disappoints Chevron, AJC pA16 "Court: ban on Chevron judgment out of line" say a fed appeals court says a NY judge wasn't allowed to ban enforcement of an $18 bil judgment against Chevron for environmental damage in Ecuador.

CSCO
$19.83 unch unch 36,714,751 NASDAQ-GS: No mentions found.

Coke KO
$68.01 -0.42 0.61% 7,321,407 NYSE: AJC pA16 "Coke's polar bears star in Super Bowl ads" says what the headline says which was reported yesterday.

Disney DIS
$39.35 -0.21 0.53% 7,151,976 NYSE: Fin Times p10 "When sweet Disney dreams became a nihilistic nightmare" by Matthew Garrahan says Disney is selling a Joy Division themed Mickey Mouse T shirt. It has been pulled. Disney is now allowing employees to wear beards at its parks.

DuPont DD
$50.94 +0.35 0.69% 7,299,315 NYSE: No mentions found.

Exxon XOM
$86.77 -0.45 0.52% 15,654,596 NYSE: No mentions found.

GE
$19.07 -0.06 0.31% 42,370,681 NYSE: WSJ pB3 "Caterpillar builds optimism" by James Hagerty says GE last week promised double digit earnings growth in '12 despite Europe's debt woes & slower growth in China.

Hewlett-Packard HPQ
$27.99 -0.33 1.17% 11,396,034 NYSE: No mentions found.

Home Depot HD
$44.95 -0.31 0.68% 11,149,782 NYSE: WSJ pC12 "Renvation work: building a case for Home Depot and Lowe's" by Justin Lahart says the uptick in new home construction and the improvement in home builders' moods suggests better sales of building materials could be near. Home Depot shares are up 58% from its low in Aug and trade at 19 times past year's earnings.

Intel INTC
$26.75 -0.15 0.56% 53,909,304 NASDAQ-GS: No mentions found.

IBM
$190.98 -0.77 0.4% 3,997,747 NYSE: No mentions found.

JPMorgan JPM
$37.49 -0.11 0.29% 33,151,392 NYSE: WSJ pC12 "Banks' zero tolerance is tested by the Fed" by David Reilly says the Fed has had a zero interest rate policy since Dec '08 and this has pressured banks' profits. JPMorgan says that a 1% rise in interest rates would boost pretax earnings over 12 months by $2.5 bil. Bank of America says their interest income would rise by $1.4 bil.

Fin Times p2 "Bank looked at eurozone exit, says Dimon" by Patrick Jenkins says JPMorgan considered pulling out of the eurozone due to a $15 bil exposure there.

Inv. Bus. Dialy pA10 States stall on foreclosure settlement" by AP says Cal is holding up a settlement among state Attorneys General with banks including BofA and JPMorgan over their foreclosure practices.

Johnson & Johnson JNJ
$65.7 +0.49 0.75% 12,518,653 NYSE: No mentions found.

Kraft KFT
$38.6 +0.23 0.6% 6,493,425 NYSE: No mentions found.

McDonald's MCD
$99.18 -0.05 0.05% 4,574,746 NYSE: Inv. Bus. Daily pB3 "Eateries show strong charts, fundamentals" by Alan Elliott says McDonald's has some of the strongest fundamentals in the market.

Merck MRK
$38.78 +0.10 0.26% 12,353,019 NYSE: No mentions found.

Microsoft MSFT
$29.5 -0.06 0.2% 49,087,614 NASDAQ-GS: Fin times p14 "Windows platform fails to curb slide at Nokia" by Daniel Thomas says Nokia's smartphone sales fell by a third in 4Q.

Pfizer PFE
$21.63 -0.09 0.41% 129,888,381 NYSE: No mentions found.

Procter & Gamble PG
$64.8 -0.18 0.28% 11,926,991 NYSE: WSJ pC1 "Storm clouds loom on P&G's horizon" by Justin Lahart says P&G reports 2Q results today and analysts expect eps of $1.07. US markets are looking better but the rest of the world isn't.

3M MMM
$87.58 +1.10 1.27% 4,892,396 NYSE: WSJ pB1 "#M board gets stuck over CEO's contract" by Joann Lublin, Inv. Bus. Daily pA1 "Cat guides higher; 3M beats", NYT pB7 "3M's profit beats analysts' estimates" by Bloomberg, AJC pA16 "Growth in home, office product sales boost 3M" say 3M's profit inched 3% higher in 4Q as it earned $954 mil or $1.35 per share vs $928 mil or $1.28 year ago. Sales increased 5.7% to $7.09 bil.WSJ says there is no succession plan even though CEO George Buckley is due to expire next month when he turns 65.

Travelers TRV
$58.7 -0.45 0.76% 4,047,937 NYSE: No mentions found.

United Technologies UTX
$77.41 -0.24 0.31% 4,917,942 NYSE: No mentions found.

Verizon VZ
$37.34 -0.35 0.93% 16,689,981 DualListed: Inv. Bus. Daily pA4 "Wireless tower firms heightened by trends" by Reinhardt Krause looks at the shares of cellphone tower operators who serve the telecom carriers such as AT&T, Verizon and Sprint.

Walmart WMT
$60.97 +0.50 0.81% 7,358,677 NYSE: No mentions found.
******************************
Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

***************************
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

12/27/12 Fri. am Caterpillar & 3M Profits Up: AT&T Has Loss

2012-01-27T06:42:00.006-05:00

1/26/12 Thurs. pm Dow Closes at 12,734.63 down 22.33 or 0.18%

2012-01-26T17:03:00.002-05:00

www.DowJonesMonitor.com

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Post No. 1,442 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

The Dow Jones Industrial Average closed Thursday at 12,734.63 down 22.33 or 0.18% from Wednesday's close of 12,758.85. Of the 30 Dow components 24 gained and 6 declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $111.31 +2.26 2.07% 18,517,144 NYSE. The biggest decliner dollar-wise was AT&T T $29.45 -0.76 2.52% 55,980,811 and percentage-wise was Chevron CVX $106.59 -1.14 1.06% 6,991,718 NYSE.

As of the open of the market Thursday, the current divisor for the Dow Jones Industrial Average found at page C5 of Thursday's Wall St. Journal is 0.132129493. Thursday's trailing P/E ratio is 13.77 up from Wednesday's trailing P/E ratio of 13.68 (year ago it was 14.90); Thursday's P/E estimate is 12.05 unchanged from yesterday's P/E estimate of 12.05 (year ago it was 12.59), and today's dividend yield is 2.51 down from yesterday's dividend yield of 2.53 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Thursday's Dow Jones Industrial Average closing numerator was 1,682.62 down 3.2 from Wednesday's closing numerator of 1,685.82. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was $56.09 down $0.10 from Wednesday's average closing price of $56.19. The median closing price of Thursday's Dow Jones Industrial Average was $47.47 (AXP/HD) down $0.26 from Wedneday's median closing price of $47.73. The lowest volume was Travelers TRV $58.7 -0.45 0.76% 4,047,937 NYSE and the highest volume again was Bank of America BAC $7.3 -0.05 0.68% 264,255,811 NYSE.

If Thursday 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) and sold at the close you would have lost $320 ($168,582 - 168,270).

MarketWatch Thursday 1/26/12 4:19 pm by Kate Gibson says U.S. stocks lost Thursday’s gains after new-home sales unexpectedly declined last month, marking the slowest year for builders since the government began tracking the data. The market’s disappointment in the Commerce Department data showed the “enthusiasm we’re seeing is not complete insanity yet,” said Bruce McCain, chief investment strategist at Key Private Bank. “Investor enthusiasm and optimism seems to be as high as [they’ve] been for years, and it just doesn’t seem to be justified in terms of the economic and fundamental realities,” McCain said. AT&T posted a nearly $6.7 billion loss as it booked several large charges, but telecommunications giant's revenue rose 3.6% on continued subscriber growth, Anton Troianovski reports on Markets Hub. After rising more than 84 points, the Dow Jones Industrial Average DJIA -0.18% ended off 22.33 points, or 0.2%, at 12,734.63. Caterpillar Inc. CAT -.00% led blue-chip gains that included just six of its 30 components. The heavy-equipment maker gained 2.1% after topping analysts’ estimates last quarter. AT&T Inc. T -2.52% fell 2.5%, the most among the Dow-30, with the telecom reporting a $6.7 billion quarterly loss related to its failed merger with T-Mobile USA. The S&P 500 SPX -0.58% fell 7.63 points, or 0.6%, to 1,318.43, with telecommunications services the greatest laggard and natural-resource companies the only advancing sector among its 10 industry groups. The Nasdaq Composite COMP -0.46% lost 13.03 points, or 0.5%, to close at 2,805.28. Decliners edged just past advancers on the New York Stock Exchange, where 866.5 million shares traded hands. The Commerce Department said U.S. sales of new homes fell 2.2% in December to a seasonally adjusted annual rate of 307,000. For all of 2011, sales of new homes fell 6.2% to 302,000 -- the worst on record. Ahead of the home-sales report, investors had warmly greeted a round of better-than-expected earnings from companies including Caterpillar and economic reports that had jobless claims remaining under 400,000. Netflix soars on earnings newsThe latest markets and money news from Ann Cates, including a rally in recently downtrodden Netflix and a jump in demand for big-ticket items.
“Jobless claims are basically on track with what we’ve seen, it’s a good number, but not outstanding,” said McCain at Key Private Bank. Also bolstering sentiment, data from the Commerce Department had orders for U.S. durable goods rising 3% in December. While “encouraging,” it remains to be seen how much a tax-break that expired at the end of the year had to do with corporate purchases of long-lasting goods, McCain said. Wall Street’s higher close on Wednesday had the Dow industrials hitting its highest close since May 10, while the S&P 500 advanced for its 13th session so far this year, with the broad-market gauge so far losing ground on only three trading days for 2012.

Thursday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market
AT&T T
$29.45 -0.76 2.52% 55,980,811 NYSE

Alcoa AA
$10.36 -0.12 1.15% 27,146,913 NYSE

American Express AXP
$49.98 -0.19 0.38% 6,217,191 NYSE

Bank of America BAC
$7.3 -0.05 0.68% 264,255,811 NYSE

Boeing BA
$75.31 -0.51 0.67% 4,185,109 NYSE

Caterpillar CAT
$111.31 +2.26 2.07% 18,517,144 NYSE

Chevron CVX
$106.59 -1.14 1.06% 6,991,718 NYSE

CSCO
$19.83 unch unch 36,714,751 NASDAQ-GS

Coke KO
$68.01 -0.42 0.61% 7,321,407 NYSE

Disney DIS
$39.35 -0.21 0.53% 7,151,976 NYSE

DuPont DD
$50.94 +0.35 0.69% 7,299,315 NYSE

Exxon XOM
$86.77 -0.45 0.52% 15,654,596 NYSE

GE
$19.07 -0.06 0.31% 42,370,681 NYSE

Hewlett-Packard HPQ
$27.99 -0.33 1.17% 11,396,034 NYSE

Home Depot HD
$44.95 -0.31 0.68% 11,149,782 NYSE

Intel INTC
$26.75 -0.15 0.56% 53,909,304 NASDAQ-GS

IBM
$190.98 -0.77 0.4% 3,997,747 NYSE

JPMorgan JPM
$37.49 -0.11 0.29% 33,151,392 NYSE

Johnson & Johnson JNJ
$65.7 +0.49 0.75% 12,518,653 NYSE

Kraft KFT
$38.6 +0.23 0.6% 6,493,425 NYSE

McDonald's MCD
$99.18 -0.05 0.05% 4,574,746 NYSE

Merck MRK
$38.78 +0.10 0.26% 12,353,019 NYSE

Microsoft MSFT
$29.5 -0.06 0.2% 49,087,614 NASDAQ-GS

Pfizer PFE
$21.63 -0.09 0.41% 129,888,381 NYSE

Procter & Gamble PG
$64.8 -0.18 0.28% 11,926,991 NYSE

MMM
$87.58 +1.10 1.27% 4,892,396 NYSE

Travelers TRV
$58.7 -0.45 0.76% 4,047,937 NYSE

United Technologies UTX
$77.41 -0.24 0.31% 4,917,942 NYSE

Verizon VZ
$37.34 -0.35 0.93% 16,689,981 DualListed

Walmart WMT
$60.97 +0.50 0.81% 7,358,677 NYSE

******************
The following are excerpts from Thursday morning's Blog.

A read of the print editions of Thursday's Wall St. 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 symbol and Wednesday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Wednesday at 12,758.85 up 83.1 or 0.66% from Tuesday's close of 12,675.75. For the year the Dow is up 4.41%. Of the 30 Dow components 24 gained and 6 declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $108.97 +2.68 2.52% 10,241,753 NYSE. The biggest decliner dollar-wise and percentage-wise was Hewlett-Packard HPQ $28.32 -0.20 0.7% 12,572,535 NYSE.

WSJ pC1 "Fed lifts markets on rate outlook" by Matt Phillips says stocks, bonds & commodities soared while the US dollar dropped afgter Ben Bernanke and the Fed Res signaled it would keep interest rates low through '14.

Fin Times p24 "Apple's surge to top spot triggers wider stock rally for parts suppliers" by Ajay Makan says the S&P closed in bull market territory after climbing 0.9% to 1,326.07. Boeing opened sharply lower after disappointing analysts with its '12 forecast but the stock closed up 0.6%.

Inv. Bus. Daily pA1 "Stocks finish strong again, volume rises" by David Saito-Chung says the helicopter motioned that it's releasing more cash, and investors backed up the truck as stocks rallied broadly and extended their Jan advance Wed spurred by a surprise decision by the Fed Res to keep money ultracheap until at least late '14. Wednesday's action saw solid gains in higher trade asa the current outlook is the market is in a confirmed uptrend.

NYT pB12 "Apple's surge and the Fed's advisory on interest rates enliven markets" by Reuters says profits from Apple and a promise from the Fed Res to maintain rock bottom rates for at least 2 more years pushed stock market indexes higher on Wed.

USA Today p4B "Prospects of low rates, easy money into '14 boost stocks" by Bloomberg says stocks rose Wed sending the Dow to the highest level since May, as the Fed Res signaled low rates through '14 and didn't rule out bond purchases to bolster the economy.

Wednesday's Dow Jones Industrial Average closing numerator was 1,685.82 up 10.98 from Tuesday's closing numerator of 1,674.84. 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 increase for today by the divisor (0.132129493) you get the increase in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was $56.19 up $0.36 from Tuesday's average closing price of $55.83. The median closing price of Wednesday's Dow Jones Industrial Average was $47.73 (AXP/HD) up $0.56 from Tuesday's median closing price of $47.17. The lowest volume was 3M MMM $85.48 +0.55 0.64% 4,358,652 NYSE and the highest volume again was Bank of America BAC $7.35 +0.06 0.82% 246,349,769 NYSE.

If Wednesday 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) and sold at the close you would have made $1,098 ($1668,582 - $167,484).

MarketWatch Wednesday 1/25/12 4:12 pm by Laura Mandaro says U.S. stocks closed sharply higher Wednesday, reversing after the Federal Reserve surprised many with a pledge to keep interest rates near zero percent until at least late 2014. Also, surging earnings from Apple Inc. AAPL +0.02%, the largest market-cap stock in the world, drove the Nasdaq Composite higher. The Dow Jones Industrial Average DJIA +0.66% rose 83.10 points, or 0.7%, to 12,758.85. The S&P 500 SPX +0.87% gained 11.41 points, or 0.9%, to 1,326.06; out of 16 trading sessions this year, it's risen for 13. The Nasdaq Composite COMP +1.14% jumped 31.67 points, or 1.1%, to 2,818.31.

Wednesday's Closing Dow Numbers and Thursday's News:

Symbol Last Sale Change % Change Share Volume Market
AT&T T
$30.2 +0.11 0.37% 26,573,805 NYSE: WSJ pC10 "Old iPhones may ring bells at carries" by Rolfe Winkler says AT&T & Verizon don';t have to pay Apple a $400 subsidy with used iPhones. AT&T benefits ore since there are more older models around on their network than Verizon's.

WSJ pB5 "Small IT market attracts big companies" by Sarah Needleman says Apple and Best Buy are the big firms looking to get into the small business IT amrket which is not dominated by anyone even though IBM, Staples and AT&T have been in the space longer than Apple and Best Boy. There are 300,000 independent IT consultants plus 114,000 small IT companies.

Alcoa AA
$10.479 +0.209 2.04% 29,479,841 NYSE: No mentions found.

American Express AXP
$50.19 +0.96 1.95% 6,084,989 NYSE: No mentions found.

Bank of America BAC
$7.35 +0.06 0.82% 246,349,769 NYSE: WSJ pC3 "BofA's new twist on banker's cash bonus" by Dan Fitzpatrick says Bank of America plans to give investment bankers more of their year end bonuses in stock.

WSJ pC3 "Fine is levied over arbitration" by Nathalie Tadena says BofA was fined $1 mil for failing to arbitrate disputes with employees as it is required to do. Instead it tried to take the employees to court.

WSJ pC1 "Adding weapons for ATM defenses" by Suzanne Kpaner says Bank of Amemrica, JPMorgan and other banks are working with Diebold on new ATMs that use cloud computing to store information to reduce the risk of data breaches. The first ATM was introduced in '71. 55,000 of the 400,000 in the US are operated by JPM, BofA, Citi and Wells.

Boeing BA
$75.8 +0.44 0.58% 13,774,276 NYSE: WSJ pB3 "Boeing, UTC detail challenges" by David Kesmodel, Fin times p16 "Pension woes dent Boeing's progress" by Hal Weitzman, Inv. Bus. Daily pA1 "Boeing's Q4 Profit rose 18%", NYT pB3 "Boeing posts 20% profit gain but cuts forecast for '12 as jet completions slow" by Chris Drew, AJC pA12 "comnm'l sales bump Boeing's profits up" say Boeing had a 20% jump in 4Q profits with net income of $1.39 bil or $1.84 per share. Boeing delivered 128 comm'l planes during the quarter up from 116 year ago. Rev rose 31%. United Technologies had 4Q profit of $1.33 bil or $1.47 a share up from $1.2 bil or $1.31 a year earlier, beating expectations. United Tech's profit forecast for '12 is $5.80.

Fin Times p15 "Norwegian carrier in $21 bn Boeing and Airbus jet deals" by Andrew Parker says Norwegian Air Shuttle will buy 222 new aircraft worth $21.1 bil from Boeing and Airbus. Boeing will start supplying its 737 Max jets in '17.

Fin Times p24 "Apple's surge to top spot triggers wider stock rally for parts suppliers" by Ajay Makan says the S&P closed in bull market territory after climbing 0.9% to 1,326.07. Boeing opened sharply lower after disappointing analysts with its '12 forecast but the stock closed up 0.6%.

Caterpillar CAT
$108.97 +2.68 2.52% 10,241,753 NYSE: WSJ pC1 "Investors get global gauge in Caterpillar" by Kelly Evans says Caterpillar reports results today and it should be encouraging as analysts expect a 25% year on year jump in rev to $16 bil and an 18% rise in per share profit to $1.73.

Chevron CVX
$107.73 +1.01 0.95% 7,430,365 NYSE: WSJ pB2 "Textron's Bell to build new helicpoter at Texas plant" by Doug Cameron says Textron will build a new helicopter that will target demand from the offshore oil industry like Chevron and will compete with the Sikorsky unit of United Technologies.

CSCO
$19.83 +0.015 0.08% 36,729,410 NASDAQ-GS: No mentions found.

Coke KO
$68.3901 +0.4901 0.72% 5,949,770 NYSE: USA Today p1B "Coke bears return to Super Bowl ads" by Laura Petrecca says [the headline says it all].

Disney DIS
$39.54 +0.29 0.74% 9,469,836 NYSE: No mentions found.

DuPont DD
$50.58 +1.17 2.37% 7,678,747 NYSE: No mentions found.

Exxon XOM
$87.22 +0.04 0.05% 17,890,242 NYSE: WSJ pB3 "The Big Apple" says Apple's armekt cap of $416 bil is as big as Exxon's and twice the size of Walmart's.

GE
$19.13 +0.29 1.54% 50,426,601 NYSE: No mentions found.

Hewlett-Packard HPQ
$28.32 -0.20 0.7% 12,572,535 NYSE: No mentions found.

Home Depot HD
$45.26 +0.30 0.67% 9,678,085 NYSE: No mentions found.

Intel INTC
$26.9 +0.005 0.02% 54,344,023 NASDAQ-GS: No mentions found.

IBM
$191.75 -0.18 0.09% 3,905,786 NYSE: WSJ pB5 "Small IT market attracts big companies" by Sarah Needleman says Apple and Best Buy are the big firms looking to get into the small business IT amrket which is not dominated by anyone even though IBM, Staples and AT&T have been in the space longer than Apple and Best Boy. There are 300,000 independent IT consultants plus 114,000 small IT companies.

JPMorgan JPM
$37.59 -0.07 0.19% 28,408,899 NYSE: WSJ pC1 "Adding weapons for ATM defenses" by Suzanne Kpaner says Bank of Amemrica, JPMorgan and other banks are working with Diebold on new ATMs that use cloud computing to store information to reduce the risk of data breaches. The first ATM was introduced in '71. 55,000 of the 400,000 in the US are operated by JPM, BofA, Citi and Wells.

Johnson & Johnson JNJ
$65.21 +0.21 0.32% 9,808,305 NYSE: No mentions found.

Kraft KFT
$38.36 +0.06 0.16% 9,824,438 NYSE: No mentions found.

McDonald's MCD
$99.23 +0.48 0.49% 7,430,257 NYSE: No mentions found.

Merck MRK
$38.68 -0.10 0.26% 14,314,154 NYSE: No mentions found.

Microsoft MSFT
$29.56 +0.22 0.75% 58,541,320 NASDAQ-GS: WSJ pD1 "Real bonding with family around the TV via Skype" by Walter Mossberg has a good review of Skype which is now owned by Microsoft.

Pfizer PFE
$21.72 +0.06 0.28% 34,367,034 NYSE: No mentions found.

Procter & Gamble PG
$64.98 +0.48 0.74% 10,532,445 NYSE: No mentions found.

MMM
$86.48 +0.55 0.64% 4,358,652 NYSE: No mentions found.

Travelers TRV
$59.15 +1.15 1.98% 5,963,895 NYSE: No mentions found.

United Technologies UTX
$77.65 -0.13 0.17% 7,121,476 NYSE: WSJ pB3 "Boeing, UTC detail challenges" by David Kesmodel, AJC pA12 "comnm'l sales bump Boeing's profits up" say Boeing had a 20% jump in 4Q profits with net income of $1.39 bil or $1.84 per share. Boeing delivered 128 comm'l planes during the quarter up from 116 year ago. Rev rose 31%.
United Technologies had 4Q profit of $1.33 bil or $1.47 a share up from $1.2 bil or $1.31 a year earlier, beating expectations. United Tech's profit forecast for '12 is $5.80.

WSJ pB2 "Textron's Bell to build new helicpoter at Texas plant" by Doug Cameron says Textron will build a new helicopter that will target demand from the offshore oil industry like Chevron and will compete with the Sikorsky unit of United Technologies.

Verizon VZ
$37.69 -0.10 0.26% 18,667,038 DualListed: No mentions found.

Walmart WMT
$61.47 +0.08 0.13% 5,785,453 NYSE: USA Today p3B "Walmart says goodbye to night-shift greeters" by David Welch, AJC pA13 "Walmart cuts greeter staff" by David Welch, Boomberg says greeters are being removed from the overnight shift at its 3,000 US supercenters.

WSJ pB3 "The Big Apple" says Apple's armekt cap of $416 bil is as big as Exxon's and twice the size of Walmart's.

******************************
Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

***************************
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

1/26/12 Thurs am Boeing's & United Tech's Profits Up

2012-01-25T16:45:00.014-05:00

1/25/12 Wed pm Dow Closes at 12,758.85 up 83.1 or 0.66%

2012-01-25T16:27:00.003-05:00

www.DowJonesMonitor.com

The following is not intended as advertising by a broker-dealer and is not a research report. Any comments by third-parties do not reflect the views of Intellivest Securities Research, Inc. and have not been reviewed by us for completeness or accuracy.

Post No. 1,440 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 ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of January 1, 2012.

The Dow Jones Industrial Average closed Wednesday at 12,758.85 up 83.1 or 0.66% from Tuesday's close of 12,675.75. Of the 30 Dow components 24 gained and 6 declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $108.97 +2.68 2.52% 10,241,753 NYSE. The biggest decliner dollar-wise and percentage-wise was Hewlett-Packard HPQ $28.32 -0.20 0.7% 12,572,535 NYSE.

As of the open of the market Wednesday, the current divisor for the Dow Jones Industrial Average found at page C5 of Wednesday's Wall St. Journal is 0.132129493. Wednesday's trailing P/E ratio is 13.68 down from Tuesday's trailing P/E ratio of 13.72 (year ago it was 14.89); Wednesday's P/E estimate is 12.05 unchanged from yesterday's P/E estimate of 12.05 (year ago it was 12.59), and today's dividend yield is 2.53 up from yesterday's dividend yield of 2.52 (last year it was 2.40). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Wednesday's Dow Jones Industrial Average closing numerator was 1,685.82 up 10.98 from Tuesday's closing numerator of 1,674.84. 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 increase for today by the divisor (0.132129493) you get the increase in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was $56.19 up $0.36 from Tuesday's average closing price of $55.83. The median closing price of Wednesday's Dow Jones Industrial Average was $47.73 (AXP/HD) up $0.56 from Monday's median closing price of $47.17. The lowest volume was 3M MMM $85.48 +0.55 0.64% 4,358,652 NYSE and the highest volume again was Bank of America BAC $7. NYSE.

If Wednesday 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) and sold at the close you would have made $1,098 ($1668,582 - $167,484).

MarketWatch Wednesday 1/25/12 4:12 pm by Laura Mandaro says U.S. stocks closed sharply higher Wednesday, reversing after the Federal Reserve surprised many with a pledge to keep interest rates near zero percent until at least late 2014. Also, surging earnings from Apple Inc. AAPL +0.02%, the largest market-cap stock in the world, drove the Nasdaq Composite higher. The Dow Jones Industrial Average DJIA +0.66% rose 83.10 points, or 0.7%, to 12,758.85. The S&P 500 SPX +0.87% gained 11.41 points, or 0.9%, to 1,326.06; out of 16 trading sessions this year, it's risen for 13. The Nasdaq Composite COMP +1.14% jumped 31.67 points, or 1.1%, to 2,818.31.

Wednesday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market
AT&T T
$30.2 +0.11 0.37% 26,573,805 NYSE

Alcoa AA
$10.479 +0.209 2.04% 29,479,841 NYSE

American Express AXP
$50.19 +0.96 1.95% 6,084,989 NYSE

Bank of America BAC
$7.35 +0.06 0.82% 246,349,769 NYSE

Boeing BA
$75.8 +0.44 0.58% 13,774,276 NYSE

Caterpillar CAT
$108.97 +2.68 2.52% 10,241,753 NYSE

Chevron CVX
$107.73 +1.01 0.95% 7,430,365 NYSE

CSCO
$19.83 +0.015 0.08% 36,729,410 NASDAQ-GS

Coke KO
$68.3901 +0.4901 0.72% 5,949,770 NYSE

Disney DIS
$39.54 +0.29 0.74% 9,469,836 NYSE

DuPont DD
$50.58 +1.17 2.37% 7,678,747 NYSE

Exxon XOM
$87.22 +0.04 0.05% 17,890,242 NYSE

GE
$19.13 +0.29 1.54% 50,426,601 NYSE

Hewlett-Packard HPQ
$28.32 -0.20 0.7% 12,572,535 NYSE

Home Depot HD
$45.26 +0.30 0.67% 9,678,085 NYSE

Intel INTC
$26.9 +0.005 0.02% 54,344,023 NASDAQ-GS

IBM
$191.75 -0.18 0.09% 3,905,786 NYSE

JPMorgan JPM
$37.59 -0.07 0.19% 28,408,899 NYSE

Johnson & Johnson JNJ
$65.21 +0.21 0.32% 9,808,305 NYSE

Kraft KFT
$38.36 +0.06 0.16% 9,824,438 NYSE

McDonald's MCD
$99.23 +0.48 0.49% 7,430,257 NYSE

Merck MRK
$38.68 -0.10 0.26% 14,314,154 NYSE

Microsoft MSFT
$29.56 +0.22 0.75% 58,541,320 NASDAQ-GS

Pfizer PFE
$21.72 +0.06 0.28% 34,367,034 NYSE

Procter & Gamble PG
$64.98 +0.48 0.74% 10,532,445 NYSE

MMM
$86.48 +0.55 0.64% 4,358,652 NYSE

Travelers TRV
$59.15 +1.15 1.98% 5,963,895 NYSE

United Technologies UTX
$77.65 -0.13 0.17% 7,121,476 NYSE

Verizon VZ
$37.69 -0.10 0.26% 18,667,038 DualListed

Walmart WMT
$61.47 +0.08 0.13% 5,785,453 NYSE

**************
The following are excerpts from Wed. morning's Blog.

A read of the print editions of Wednesday's Wall St. 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 symbol and Tuesday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Tuesday at 12,675.75 down 33.07 or 0.26% from Monday's close of 12,708.82. For the year the Dow is up 3.75%. Of the 30 Dow components 11 gained, 2 (Disney and Johnson & Johnson) were unchanged and 17 declined. The biggest gainer dollar-wise was IBM $191.91 +1.93 1.02% 4,833,312 NYSE and percentage-wise was United Technologies UTX $77.78 +0.92 1.2% 5,592,539 NYSE. The biggest decliner dollar-wise and percentage-wise was Travelers TRV $58 -2.29 3.8% 6,635,918 NYSE.

WSJ pC4 "Greek standoff sinks DJIA" by Chris Dieterich says the S&P closed in the red for the first time in 6 sessions as Greece's debt reduction talks edged toward a standoff and a raft of blue chips delivered mixed results. McDonald's earnings rose 11% as it beat expectations with new product offerings driving same store sales. Travelers lost $2.29 after it reported 4Q earnings that missed forecasts although rev was above expectations. Verizon lost 61 cents after its 4Q earnings came up shy of estimates. Johnson & Johnson rose 0.1% after it reported 4Q earnings & rev that exceeded expectations but provided a '12 earnings outlook below current estimates.

Inv. Bus. Daily pA1 Stocks end little changed, lifting off session's lows" by Vic Reklaitis says stocks closed narrowly mixed for a 2nd straight session Tues. Tuesday's action was narrowly mixed in mixed volume as the current outlook is the market is in a confirmed uptrend.

NYT pB7 "Impasse over Greece sends S&P down" and shorter version at USA Today p4B "European worries creep back, sending markets down again" by Bloomberg says stocks retreated Tues ending a 5 day advance in the S&P & a stalemate between European finance ministers and Greek bondholders on how to resolve the nation's debt crisis. McDonald's declined $2.20 as it said profit may be trimmed as the Europe and debt crisis sinks the region's currency. Mcdonald's gets 60% of its rev outside the US.

Fin Times p24 "Zions Bancorp suffers sharp slide as CDO exposure underlines risks" by Ajay Makan says an earnngs miss by Zions Bancorporation highlighted the risk to US banks from souring loan securities. McDonald's reported strong 4Q earnings with net income rising 11% from a year ago, but the shares sold off 2.2%. Verizon Comm fell 1.6% after reporting a net loss of $2.02 bil, hampered by pension costs & lower margins on smartphone sales.

Tuesday's Dow Jones Industrial Average closing numerator was 1,674.84 down 4.37 from Monday's closing numerator of 1,679.21. 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 decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was $55.83 down $0.14 from Monday's average closing price of $55.97. The median closing price of Tuesday's Dow Jones Industrial Average was $47.17 (DD/HD) up $0.05 from Monday's median closing price of $47.127. The lowest volume was 3M MMM $85.3 +0.32 0.37% 3,883,183 NYSE and the highest volume again was Bank of America BAC $7.29 +0.04 0.55% 222,608,194 NYSE.

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) and sold at the close you would have lost $437 ($167,921 - $167,484).

MarketWatch Tuesday 1/24/12 4:10 pm by Laura Mandaro says U.S. stocks closed with losses for two of three benchmark indexes Tuesday, deflated by the situation in Europe, where euro-zone policymakers and Greek bondholders appeared at an impasse over the country's debt restructuring. The Nasdaq Composite, however, gained ahead of three big tech company reports, including Apple Inc. APPL +19.38% after the close. The Dow Jones Industrial Average DJIA -0.26% lost 33.07 points, or 0.3%, to 12,675.75. The S&P 500 SPX -0.10% fell 1.4 points, or 0.1%, to 1,314.65. The Nasdaq Composite COMP +0.09% added 2.47 points, or 0.1%, to 2,786.64.

Tuesday's Closing Dow Numbers and Wednesday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $30.09 +0.31 1.02% 24,295,228 NYSE: No mentions found.

Alcoa AA $10.265 -0.015 0.15% 20,037,814 NYSE: No mentions found.

American Express AXP $49.23 -0.21 0.42% 5,426,447 NYSE: No mentions found.

Bank of America BAC $7.29 +0.04 0.55% 222,608,194 NYSE: WSJ pC6 "More Merrill at Blackstone" says Blackstone Group is closing a deal with Bofa to pay it $700 mil for properties around the globe. The assets were held by Merrill until BofA bought it in '08.

Boeing BA $75.405 -0.105 0.14% 4,597,569 NYSE: No mentions found.

Caterpillar CAT $106.29 -0.08 0.08% 5,536,734 NYSE: No mentions found.

Chevron CVX $106.72 -0.29 0.27% 4,897,954 NYSE: No mentions found.

CSCO $19.815 -0.015 0.08% 30,610,612 NASDAQ-GS: No mentions found.

Coke KO $67.9 -0.63 0.92% 7,288,476 NYSE: No mentions found.

Disney DIS $39.25 unch unch 9,378,689 NYSE: No mentions found.

DuPont DD $49.395 +0.045 0.09% 4,921,569 NYSE: WSJ pB6 "DuPont's profit declines slightly" by Doug Cameron, Fin times p17 "DuPont suffers slump in Asia" by Hal Weitzman, Inv. Bus. Daily pA1 "DuPont profit up orders lag" says DuPont's Q4 EPS fell 30% to 35 cents, beating forecasts by 2 cents. Sales climbed 14% to $8.43 bil. There was a pullback in orders for consumer electronics and construction.

Exxon XOM $87.15 -0.32 0.37% 11,116,995 NYSE: No mentions found.

GE $18.84 -0.10 0.53% 39,341,652 NYSE: No mentions found.

Hewlett-Packard HPQ $28.52 -0.16 0.56% 14,740,012 NYSE: No mentions found.

Home Depot HD $44.955 +0.075 0.17% 10,506,035 NYSE: No mentions found.

Intel INTC $26.895 +0.185 0.69% 55,872,389 NASDAQ-GS: No mentions found.

IBM $191.91 +1.93 1.02% 4,833,312 NYSE: Inv. Bus. Daily pA6 "JPMorgan Fund bets big on tech" by Paul Katzeff profiles JPMorgan Large Cap Growth Fund and says it is targeting the tech sector with IBM, Google, and Apple making up the fund's largest positions.

JPMorgan JPM $37.665 +0.005 0.01% 24,139,264 NYSE: Inv. Bus. Daily pA6 "JPMorgan Fund bets big on tech" by Paul Katzeff profiles JPMorgan Large Cap Growth Fund and says it is targeting the tech sector with IBM, Google, and Apple making up the fund's largest positions.

Johnson & Johnson JNJ $65 unch unch 11,668,110 NYSE: WSJ pB6 "J&J net slumps on charges" by Peter Loftus, WSJ pC4 "Greek standoff sinks DJIA" by Chris Dieterich, Fin times p16 "Product recall fees dent J&J earnngs" by Alan Rappeport, Inv. Bus. Daily pA1 "J&J tops, guides down for year", NYT pB9 "Johnson takes $3 bil hit on hip recall" by Reuters say the S&P closed in the red for the first time in 6 sessions as Greece's debt reduction talks edged toward a standoff and a raft of blue chips delivered mixed results. McDonald's earnings rose 11% as it beat expectations with new product offerings driving same store sales. Travelers lost $2.29 after it reported 4Q earnings that missed forecasts although rev was above expectations. Verizon lost 61 cents after its 4Q earnings came up shy of estimates. Johnson & Johnson rose 0.1% after it reported 4Q earnings & rev that exceeded expectations but provided a '12 earnings outlook below current estimates.

Kraft KFT $38.3 -0.17 0.44% 7,288,030 NYSE: No mentions found.

McDonald's MCD $98.75 -2.20 2.18% 11,606,314 NYSE: WSJ pB1 "late night sales on a roll for US fast food outlets" by Julie Jargon, AJC pA14 "McDonald's: low prices help boost net income", Fin times p17 "McDonald's sales beefed up by breakfasts" by Alan Rappeport, Inv. Bus. Daily pA1 "Dollar fears hut McDonald's", NYT pB10 "McDonald's profit rises 11%, but investors fret over '12" say McDonald's net income rose 11% in 4Q due to more budget-conscious customers. Net income was $1.38 bil or $1.33 per share better than the $1.29 expected. Rev was up 10% to $6.82 bil.

Fin Times p1 "McDonald's Twitter ad campaign backfires as customers vent anger" by Tim Bradshaw says critics of MCD turned its campaign on Twitter against it, unleashing a torrent of abusive tweets so it pulled the program within hours.

WSJ pC4 "Greek standoff sinks DJIA" by Chris Dieterich says the S&P closed in the red for the first time in 6 sessions as Greece's debt reduction talks edged toward a standoff and a raft of blue chips delivered mixed results. McDonald's earnings rose 11% as it beat expectations with new product offerings driving same store sales. Travelers lost $2.29 after it reported 4Q earnings that missed forecasts although rev was above expectations. Verizon lost 61 cents after its 4Q earnings came up shy of estimates. Johnson & Johnson rose 0.1% after it reported 4Q earnings & rev that exceeded expectations but provided a '12 earnings outlook below current estimates.

USA Today p4B "European worries creep back, sending markets down again" by Bloomberg says stocks retreated Tues ending a 5 day advance in the S&P & a stalemate between European finance ministers and Greek bondholders on how to resolve the nation's debt crisis. McDonald's declined $2.20 as it said profit may be trimmed as the Europe and debt crisis sinks the region's currency. Mcdonald's gets 60% of its rev outside the US.

Fin Times p24 "Zions Bancorp suffers sharp slide as CDO exposure underlines risks" by Ajay Makan says an earnngs miss by Zions Bancorporation highlighted the risk to US banks from souring loan securities. McDonald's reported strong 4Q earnings with net income rising 11% from a year ago, but the shares sold off 2.2%. Verizon Comm fell 1.6% after reporting a net loss of $2.02 bil, hampered by pension costs & lower margins on smartphone sales.

Merck MRK $38.78 +0.01 0.03% 12,964,717 NYSE: No mentions found.

MSFT $29.34 -0.39 1.31% 51,206,156 NASDAQ-GS: No mentions found.

Pfizer PFE $21.66 -0.05 0.23% 25,224,039 NYSE: No mentions found.

Procter & Gamble PG $64.5 -0.50 0.77% 9,615,947 NYSE: No mentions found.

3M MMM $85.93 +0.32 0.37% 3,883,183 NYSE: No mentions found.

Travelers TRV $58 -2.29 3.8% 6,635,918 NYSE: WSJ pC3 "Travelers touts improving profits" by Erik Holm says Travelers 4Q results fell short of expectations. It was among the first to say it was boosting the price of insurance a year ago. Travelers' business insurance unit earned 2.1 cents for every dollar it collected in premiums in '11, down from 4.4 cents in '10 and 6.2 cents in '09. Net income declined 31% to $618 mil wile operating income of $1.48 a share missed by 5 cents the average estimate of analysts. Net investment income fell 16% to $541 mil.

WSJ pC4 "Greek standoff sinks DJIA" by Chris Dieterich says the S&P closed in the red for the first time in 6 sessions as Greece's debt reduction talks edged toward a standoff and a raft of blue chips delivered mixed results. McDonald's earnings rose 11% as it beat expectations with new product offerings driving same store sales. Travelers lost $2.29 after it reported 4Q earnings that missed forecasts although rev was above expectations. Verizon lost 61 cents after its 4Q earnings came up shy of estimates. Johnson & Johnson rose 0.1% after it reported 4Q earnings & rev that exceeded expectations but provided a '12 earnings outlook below current estimates.

United Technologies UTX $77.78 +0.92 1.2% 5,592,539 NYSE: No mentions found.

Verizon VZ $37.79 -0.61 1.59% 29,415,463 DualListed: WSJ pB4 "IPhone powers and pinches Verizon" by Greg Bensinger, NYT pB2 "smartphone sales are strong, but Verizon has a loss" by Brian X. Chen, AJC pA13 "Pension charge hits Verizon profit" byBrian Chen, NYTimes, Inv. Bus. Daily pA1 "Verizon misses Q4 profit call" say Verizon Communications had a net loss of $2 bil in 4Q '11 despite rising iPhone sales and rev growth in its wireless business, compared with net income of $2.64 bil in same quarter year ago. Loss was due to noncash pension charges. Rev climbed 7.7% to $28.4 bil from $26.4 bil same quarter year ago.

WSJ pC4 "Greek standoff sinks DJIA" by Chris Dieterich says the S&P closed in the red for the first time in 6 sessions as Greece's debt reduction talks edged toward a standoff and a raft of blue chips delivered mixed results. McDonald's earnings rose 11% as it beat expectations with new product offerings driving same store sales. Travelers lost $2.29 after it reported 4Q earnings that missed forecasts although rev was above expectations. Verizon lost 61 cents after its 4Q earnings came up shy of estimates. Johnson & Johnson rose 0.1% after it reported 4Q earnings & rev that exceeded expectations but provided a '12 earnings outlook below current estimates.

Fin Times p24 "Zions Bancorp suffers sharp slide as CDO exposure underlines risks" by Ajay Makan says an earnngs miss by Zions Bancorporation highlighted the risk to US banks from souring loan securities. McDonald's reported strong 4Q earnings with net income rising 11% from a year ago, but the shares sold off 2.2%. Verizon Comm fell 1.6% after reporting a net loss of $2.02 bil, hampered by pension costs & lower margins on smartphone sales.

Walmart WMT $61.39 +0.48 0.79% 7,278,224 NYSE: USA Today p2B "Puppy boots hope to stroll onto shelves in Walmart product contest" by Sarah Meehan says Walmart has a contest "Get on the Shelf" which is a competition for small businesses. This article looks at some of the products competing.

******************************
Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
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)
Hewlett-Packard HPQ Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

***************************
Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 1/1/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $406 [5]
2. Microsoft MSFT 218 [8.5]
3. IBM 216 [1]
4. Chevron CVX 212 [2]
5. WalMart WMT 204.5 [3.5]
6. GE 189 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. Johnson & Johnson JNJ 179 [3]
9. AT&T T 179 [6]
10. Pfizer PFE 166.5 [7.5]
11. Coke KO 159 [2.5]
12. JPMorgan Chase JPM 126.5 [4]
13. Intel INTC 123.5 [5]
14. Merck MRK 115 [3]
15. Verizon VZ 113.5 [3]
16. McDonald's MCD 102.5 [1]
17. Cisco CSCO 97 [5.5]
18. Disney DIS 67.5 [2]
19. United Technologies UTX 66 [1]
20. Kraft KFT 66 [2]
21. Home Depot HD 65 [1.5]
22. Caterpillar CAT 58.5 [.5]
23. 3M MMM 57 [.5]
24. Bank of America BAC 56.5 [10]
25. American Express AXP 54.5 [1]
26. Boeing BA 54.5 [1]
27. Hewlett-Packard HPQ 51 [2]
28. DuPont DD 42 [1]
29. Travelers TRV 24.5 [.5]
30. Alcoa AA 9 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 1/1/12:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results

Alcoa AA: 11/16/11 8K re: exec changes
10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 12/15/11 8K re: delinq. & write-off stats for prior 3 months
11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11

Bank of Am BAC: 12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price

Boeing BA: 12/15/11 8-K/A election of Gregory D. Smith as CFO
11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director

Caterpiller CAT: 12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan
11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11

Chevron CVX: 12/12/11 8K re grant of exec stock options
11/3/11 10Q for Qtr ended 9/30/11
10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results

Cisco CSCO 12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan
11/22/11 10Q & 8K for Qtr ended 10/29
10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA

Coke KO 12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.
11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes

Disney DIS 12/1/11 8K re sale of $1.6 bil of Global Notes
11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will
11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes
11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of floating global notes
9/13/11 8K re: purchase of Autonomy Corp.

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation
11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results

Johnson & Johnson JNJ : 12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!
11/30/11 8K re: purchase of Synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company
11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 12/2/11 8K re Nov sales rose 7.4%
11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend

Merck MRK: 12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 12/22/11 8K/A re frequency of advisory votes on exec pay
11/17/11 8K re: voting results from Annual Shareholder Meeting
10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 12/13/11 8K re election of 3 new members to Board
11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy

3M MMM: 12/6/11 8K re eps guidance
11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft

Verizon Communications Inc. VZ: 12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil
10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11
11/15/11 8K re: results for 3 & 9 months ended 10/31/11
9/29/11 8K re: adoption of Deferred Com Plan

1/25/12 Wed am Verizon's & JNJ's Profits Down, DuPonts & McDonald's Up, Travelers' Dissappoint

2012-01-25T08:11:00.009-05:00

1/24/12 Tues. pm Dow Closes at 12,675.75 down 33.07 or 0.26%

2012-01-24T16:24:00.003-05:00

1/24/12 Tues am BofA, JPMorgan agree to $25 Bil Housing Pact

2012-01-24T07:36:00.004-05:00