12/23/09 Wed am Boeing Buys Another 787 Vendor- Alenia

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Post #276 The following is brought to you by Intellivest Securities Research, Inc. Towards the end of this Blog is a list of the Dow 30 CEO's, a ranking of the Dow 30 by market capitalization as of close of 12/20/09 and an update of the Dow 30's most recent SEC filings as of 12/18/09.

A read of Wednesday's 12/23/09 print editions of: The Wall Street Journal, Financial Times, The New York Times, Investors Business Daily, USA Today, Atlanta Journal Constitution, & Daily Report (Ga) 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 closing price and related data:

Dow: t The Dow Jones Industrial Average closed Tuesday at 10,464.93 up 50.79 or 0.49% from Monday's close of 10,414.14. Of the 30 Dow Companies: 22 gained, Pfizer and Procter & Gamble were unchanged and 6 declined. Year to date the Dow Jones Industrial Average is up 19.24%. The biggest gainer dollar-wise was IBM $129.93 +1.28 0.99% 5,502,925 NYSE and percentage-wise was DuPont DD $32.7 +0.55 1.71% 4,649,682 NYSE. The biggest decliners dollar-wise were DIS $32.31 -0.09 0.28% 9,020,602 NYSE and GE $15.48 -0.09 0.58% 47,889,548 and percentage-wise was GE $15.48 -0.09 0.58% 47,889,548.

WSJ pC1 "Fear Index In Retreat, Dow Rises 1" by Peter A. McKay says stocks advanced on Tues as surprisingly strong home sale data helped buttress optimism that the US economy is picking up steam. The Dow Jones Industrial Average rose 0.5%. The dollar edges higher against major rivals amid speculation that an improved economy will lead to rising interest rates. The euro sank to the lowest level against the greenback in more than 3 months.

WSJ pC5 "Pulte, Home Depot and IBM Lead Rally" by Donna Kardos Yesalavich says stocks closed higher Tues as a bigger than expected rise in existing home sales for Nov lifted Pulte Homes, Home Depot and a host of other firms connected to the housing market, while IBM led strong gains in the tech sector. Boeing was one of the best performers up 1.5% after it acquired Alenia North America's 50% stake in Global Aeronautica LLC, Boeing's latest move in its effort to get more control over the sprawling global supply chain that led to delays of its 787 Dreamliner. Other big gainers on the Dow included Home Depot which rose 1.1%

Fin Times 20 "AIG leads wider rally after halting Chartis sell off" by Courtney Weaver says AIG led US shares close to 14 month highs Tues after it halted plans to sell its property casualty unit.

NYT pB1 "Tax Credit Gives a Lift To Housing" by Javier C. Hernandez says data released on Tues indicaed that the economic recovery, while still uneven, has carriedinto the end ofthe yer, and analysts expect it to gain strength.

As of the open of the market Wednesday, the current divisor for the Dow found at page C4 of today's Wall St. Jrnl is .132319125 unchanged, the trailing P/E ratio is 18.16 up from Tues's 18.07 (year ago it was 17.58) the P/E estimate is 16.00 unchanged from Tuesday's 16.00 (year ago it was 10.45) and the current dividend yield is 2.65 down from Tues' 2.66 (it was 3.73 a year ago).

Tuesday's Dow Jones Industrial Average closing numerator was 1384.71 up 6.72 from Monday's closing Dow numerator of 1377.99. 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 of 6.72 for Tuesday by the divisor you get the increase in Tuesday's Dow close of 50.79.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 46.16 up 0.23 from Monday's Dow Jones Industrial Average closing price of $45.93. The median closing price of Tuesday's Dow Jones Industrial Average was 41.68 up 0.22 from Monday's $41.46. The lowest volume Tuesday was 3M MMM $81.96 +0.53 0.65% 1,822,516 NYSE and the highest volume again was Bank of Am BAC $15.33 +0.05 0.33% 102,733,565 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 made $672 ($138,471- $137,799).

AT&T T $27.9 +0.36 1.31% 23,474,130 NYSE: No mentions found.

Alcoa AA $15.79 +0.06 0.38% 31,558,658 NYSE: No mentions found.

American Express AXP $41.42 +0.40 0.98% 6,558,405 NYSE: No mentions found.

Bank of America BAC $15.33 +0.05 0.33% 102,733,565 NYSE: No mentions found.

Boeing BA $55.1 +0.80 1.47% 3,645,209 NYSE: Fin Times p15 "Boeing tightens control of 787" by Hal Weitzman, WSJ pB2 "Boeing Takes Control of Plant" by Peter Sanders & NYT pB8 say in another move to gain control of the sprawling supply chain for its 787 Dreamliner, and offer relief to a struggling contractor, Boeing acquired the half of a S. Carolina fuselage subassembly plant that it didn't already own. Boeing for 2 years has struggled with supply chain and manufacturing issues on the cutting edge jet. With its test flight program finally under way, BA now needs to ramp up production on an aircraft that is years behind schedule. Boeing has spent more than $1 bil in S. Carolina alone to buy out struggling suppliers. It bought half of Global Aeronautica in March '08 from Voight Aircraft and this summer bought another Voight factory in SC that makes the rear fuselage sections for the Dreamliner.

WSJ pC5 "Pulte, Home Depot and IBM Lead Rally" by Donna Kardos Yesalavich says stocks closed higher Tues as a bigger than expected rise in existing home sales for Nov lifted Pulte Homes, Home Depot and a host of other firms connected to the housing market, while IBM led strong gains in the tech sector. Boeing was one of the best performers up 1.5% after it acquired Alenia North America's 50% stake in Global Aeronautica LLC, Boeing's latest move in its effort to get more control over the sprawling global supply chain that led to delays of its 787 Dreamliner. Other big gainers on the Dow included Home Depot which rose 1.1%

Caterpillar CAT $57.89 +0.29 0.5% 4,253,706 NYSE: No mentions found.

Chevron CVX $77.49 -0.01 0.01% 6,656,766 NYSE: No mentions found.

Cisco CSCO $23.75 +0.11 0.47% 26,817,256 NASDAQ-GS: No mentions found.

Coca-Cola KO $57.27 +0.09 0.16% 6,017,189 NYSE: No mentions found.

Disney DIS $32.31 -0.09 0.28% 9,020,602 NYSE: AJC pA18 says Disney's ability to meet its debt payments was affirmed on Tues by S&P who said it will keep Disney's long erm corporate redit rating at A and its short term rating at A-1. But Disney's outlook is negative due to the continuing drag on business from a sluggish economy. S&P said the A rating reflects Disney's marquee name assets, extensive media reach, good cash flow and others.

DuPont DD $32.7 +0.55 1.71% 4,649,682 NYSE: No mentions found.

ExxonMobil XOM $68.57 +0.06 0.09% 27,794,702 NYSE: NYT pB2 "Triple A Debt harder to Find" by Reuters says investors who seek triple A debt are running out of options. Soon there will be little AAA debt outside gov and quasi gov debt. S&P now gives its top rating to just 4 American industrial firms: Automatic Data Processing, Exxon Mobil, Johnson & Johnson & Microsoft. In the last 5 years, they have sold less than $10 bil of debt combined.

GE $15.48 -0.09 0.58% 47,889,548 NYSE: No mentions found.

Hewlett-Packard HPQ $52.46 +0.47 0.9% 12,146,476 NYSE: No mentions found.

Home Depot HD $29.29 +0.33 1.14% 11,758,252 NYSE: WSJ pC5 "Pulte, Home Depot and IBM Lead Rally" by Donna Kardos Yesalavich says stocks closed higher Tues as a bigger than expected rise in existing home sales for Nov lifted Pulte Homes, Home Depot and a host of other firms connected to the housing market, while IBM led strong gains in the tech sector. Boeing was one of the best performers up 1.5% after it acquired Alenia North America's 50% stake in Global Aeronautica LLC, Boeing's latest move in its effort to get more control over the sprawling global supply chain that led to delays of its 787 Dreamliner. Other big gainers on the Dow included Home Depot which rose 1.1%

Intel INTC $20.04 +0.05 0.25% 35,607,557 NASDAQ-GS: No mentions found.

IBM $129.93 +1.28 0.99% 5,502,925 NYSE: WSJ pC5 "Pulte, Home Depot and IBM Lead Rally" by Donna Kardos Yesalavich says stocks closed higher Tues as a bigger than expected rise in existing home sales for Nov lifted Pulte Homes, Home Depot and a host of other firms connected to the housing market, while IBM led strong gains in the tech sector. Boeing was one of the best performers up 1.5% after it acquired Alenia North America's 50% stake in Global Aeronautica LLC, Boeing's latest move in its effort to get more control over the sprawling global supply chain that led to delays of its 787 Dreamliner. Other big gainers on the Dow included Home Depot which rose 1.1%

J.P.Morgan Chase JPM $41.94 +0.04 0.1% 22,555,189 NYSE: No mentions found.

Johnson & Johnson JNJ $64.53 +0.20 0.31% 6,981,818 NYSE: NYT pB2 "Triple A Debt harder to Find" by Reuters says investors who seek triple A debt are running out of options. Soon there will be little AAA debt outside gov and quasi gov debt. S&P now gives its top rating to just 4 American industrial firms: Automatic Data Processing, Exxon Mobil, Johnson & Johnson & Microsoft. In the last 5 years, they have sold less than $10 bil of debt combined.

Kraft KFT $27.29 +0.30 1.11% 6,223,583 NYSE: No mentions found.

McDonald's MCD $62.97 +0.31 0.49% 3,393,330 NYSE: No mentions found.

Merck MRK $37.75 +0.06 0.16% 13,010,369 NYSE: AJC pA18 says there is no evidence Merck's blockbuster cholesterol drug Vytorin causes cancer, fed regulators said Tues afer reviewing reams of data after a patient study last yer raised suspicions of a link. Vytorin, a top moneymaker for Merck, combines 2 types of brand name cholesterol pills, Zetia and Zocor, which is available as an inexpensive generic drug. At their peak, Vytorin and Zetia generated ore than $5 bil in combined sales.

Microsoft MSFT $30.82 +0.30 0.98% 35,660,618 NASDAQ-GS: WSJ pB2 "Microsoft Loses Appeal In Software Patent Suit" by Brent Kendall, Don Clark & NYT pB3, AJC pA17 by Jessica Mintz of AP say a fed appeals court on Tues affirmed a $290 mil patent infringement judgment that will bar Microsoft from selling current versions of its flagship Word software. MSFT plans to sell modified versions of the affected programs on Jan 11 when the injunction goes into effect. The US Ct. of Appeals for the Fed. Circuit on Tues affirmed a ruling in a case brought by i4i Inc., a Toronto tech firm that convinced a Texas jury last May that recent versions of Microsoft Word infringed a software patents that deals with manipulating the architecture of a document. This resulted in an injuction that barred MSFT from selling Word '03 and '07 versions that use a technology called Custom XML that is used to classify docs for retrieval by computers.

NYT pB2 "Triple A Debt harder to Find" by Reuters says investors who seek triple A debt are running out of options. Soon there will be little AAA debt outside gov and quasi gov debt. S&P now gives its top rating to just 4 American industrial firms: Automatic Data Processing, Exxon Mobil, Johnson & Johnson & Microsoft. In the last 5 years, they have sold less than $10 bil of debt combined.

Pfizer PFE $18.61 unch unch 35,502,356 NYSE: WSJ pB2 "AstraZeneca Sharpens Focus on Ethics" by Jeanne Whalen says US gov fines have made big pharma firms more sensitive about preventing illegal promotion of their drugs he CEO of AstraZeneca said, David Brennan. A number of drug firms, including Pfizer and Eli Lilly have reached large settlemnts in recent months with US investigators over marketing practices.

Procter & Gamble PG $61.3 unch unch 7,126,385 NYSE: No mentions found.

3M MMM $81.96 +0.53 0.65% 1,822,516 NYSE: No mentions found.

Travelers TRV $48.94 +0.27 0.55% 2,834,237 NYSE: No mentions found.

United Technologies UTX $69.35 -0.01 0.01% 3,980,737 NYSE: No mentions found.

Verizon VZ $33.2 +0.18 0.55% 10,066,412 NYSE: No mentions found.

WalMart WMT $53.34 -0.06 0.11% 11,897,456 NYSE: NYT pB3 "Winter Storms Interrupted, but Didn't Dissaude, Late Shoppers by Stephanie Rosnebloom doesn't mention WalMart but it has a picture of a WalMart store in a storm with "WalMart" appearing as large as a headline.
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Here are the CEOs of the Dow 30 Companies:

T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis who will be replaced on 1/1 by Brian T. Moynihan.
BA W. James McNerney, Jr.
CAT James W. Owens who will be replaced by Douglas Oberhelman in 2010.
CVX David O'Reilly who will be replaced by John Watson at year end.
CSCO John Chambers
KO Muhtar Kent
DIS Robert Iger
DD Ellen Kullman
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of 12/20/09 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $328 [5]
2. Microsoft MSFT 271 [9]
3. WalMart WMT 201 [4]
4. Chevron CVX 188 [2.5]
5. Procter & Gamble PG 180 [3]
6. Johnson & Johnson JNJ 178 [3]
7. IBM 168 [1.5]
8. GE 166 [10.5]
9. JPMorgan Chase 161 [4]
10. AT&T 161 [6]
11. Pfizer PFE 148 [8]
12. Cisco CSCO 135 [6]
13. BAC 130 [8.6]
14. Coke KO 132 [2]
15. Hewlett-Packard HPQ 122 [2]
16. Intel INTC 110 [5.5]
17. McDonald's MCD 103 [1.5]
18. Verizon VZ 93 [3]
19. Merck MRK 79 [2]
20. United Technologies UTX 65 [1]
21. Disney DIS 60 [2]
22. 3M MMM 57 [.5]
23. Home Depot 49 [2]
24. American Express AXP 48 [1]
25. Kraft KFT 40 [1.5]
26. Boeing BA 39 [1]
27. Caterpillar CAT 36 [.5]
28. DuPont DD 29 [1]
29. Travelers 26 [.5]
30. Alcoa AA 14 [1]

Here are the latest SEC filings as of 12/18/09 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses and, except for certain cases, I do not include third party shareholder proposals:

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

T AT&T: 12/18/09 8K re: amendment Bylaws to provide that the Chairman of the Board shall call a special meeting of the stockholders whenever requested in writing to do so by stockholders representing 15% (rather than 25%) of the outstanding shares of AT&T.

12/14/09 8K re: agreement with the Communications Workers of America on new, three-year contracts covering approximately 30,000 employees in CWA District 3 (AT&T's Southeast region).

Alcoa AA: 11/20/09 8K re: the temporarily idling of production at its two aluminum smelters in Fusina and Portovesme, Italy while appealing a European Commission decision that Italy’s extension of the existing electricity tariff after 2005 did not comply with European Union state aid rules and that a portion of the benefit received by Alcoa must be refunded. The curtailments in Italy will bring Alcoa’s total global smelting system curtailments to approximately 24 percent. Alcoa expects to take a 4Q '09 charge of between $300 million and $500 million, pre-tax, including the temporary curtailment and recovery actions.

American Express AXP: 12/15/09 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended September 30, October 31 and November 30, 2009.

Bank of Am BAC: 12/17/09 re: election of Brian T. Moynihan to succeed Kenneth D. Lewis as the new President and Chief Executive Officer effective January 1, 2010 and his appointment to the Board and Executive Committee of the Board. Moynihan, 50, joined FleetBoston Financial Corporation in April 1993. He was promoted to lead Corporate Strategy and Development and then went on to lead Global Wealth and Investment Management at FleetBoston. Following the Corporation’s 2004 merger with FleetBoston, he served as president of Global Wealth and Investment Management from April 2004 to October 2007. From October 2007 to December 2008, Mr. Moynihan served as president of Global Corporate and Investment Banking. From December 2008 to January 2009, Mr. Moynihan served as the Corporation’s General Counsel. From January 2009 to August 2009, Mr. Moynihan served as president of Global Corporate and Investment Banking and Global Wealth Management. Since August 2009, he has served as president of Consumer and Small Business Banking.

12/9/09 8K re: amending its Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of the Series S Preferred Stock.

12/3/09 Form 8K re: BAC's repaying the entire $45 billion investment borrowed under the Troubled Asset Relief Program.

12/3/09 8K re: BAC being named as a defendant in two related lawsuits filed in the U.S. District Court for the Southern District of New York.

Boeing BA: 11/20/09 8K re: Boeing issued $700,000,000 of 1.875% Senior Notes due 2012 and $500,000,000 of 3.750% Senior Notes due 2016.

Caterpiller CAT: 12/18/09 8K re: supplemental information concerning deliveries to users for its Machinery and Engines lines of business.

12/15/09 8K re: amendments to Bylaws.

Chevron CVX: 12/11/09 8K re: a new base salary of $1,500,000 for J.S. Watson (a $500,000 increase) to be effective January 1, 2010 when Mr. Watson assumes the position of Chairman & CEO and other exec compensation changes.

Cisco CSCO: 11/24/09 8K re: Mark Chandler, Senior Vice President, Legal Services, General Counsel & Secretary of Cisco Systems adopting a pre-arranged stock trading plan.

Coke KO: 10/29/09 10QA

Disney DIS: 12/2/09 10K

DuPont DD: 11/5/09 Prospectus relating to $1,000,000,000 3.250% Notes due 1/15 & $1,000,000,000 4.625% Notes due January 15, 2020

ExxonMobil XOM: 12/14/09 8K re: Merger Agreement to buy XTO Energy.


12/1/09 8K re: fixing a total ceiling of $139 million in respect of 2009 under XOM's Short Term Incentive Program, of which bonuses were granted to certain officers as follows


GE: 12/3/09 8K re: GE, NBC Universal, Inc. and Comcast Corporation entering into a Master Agreement pursuant to which they will form a joint venture. The joint venture will consist of the businesses of NBCU, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, collectively valued at $30 billion, and Comcast’s cable networks including E!, Versus and the Golf Channel, ten regional sports networks and certain digital media properties, collectively valued at $7.25 billion. NBCU will borrow $9.1 billion from third party lenders, and the proceeds of this debt financing will be distributed to GE. Comcast will make a payment of approximately $6.5 billion in cash to GE. GE also entered into a Stock Purchase Agreement with Vivendi SA pursuant to which,GE will acquire Vivendi’s 20% interest in NBCU for $5.8 billion. GE expects to realize approximately $9.8 billion pre-tax in cash after the buyout of Vivendi’s 20% interest. The new venture initially will be 51% owned by Comcast and 49% owned by GE.

Hewlett-Packard HPQ: 12/17/09 10K

Home Depot HD: 12/3/09 10Q

Intel INTC: 12/17/09 8K re: a press release commenting on the suit filed against Intel by the Federal Trade Commission alleging anticompetitive practices.

IBM: 11/5/09 8K announcing its Form S-3, effective August 3, 2007, relating to $2,000,000,000 of debt securities.

JPMorganChase JPM: 12/16/09 8K re: the U.S. Treasury selling in a secondary public offering, 88,401,697 warrants, each representing the right to purchase one share of the common stock, of JPM at an exercise price of $10.75 per warrant.

12/8/09 8K re: a presentation at an U.S. financial services investor conference.

Johnson & Johnson JNJ: 11/4/09 10Q

Kraft KFT: 12/15/09 8K re: a press release relating to the formal response issued by Cadbury plc regarding the offer by Kraft Foods to acquire all of the shares of Cadbury plc.

12/1/09 8K re: a revolving credit agreement for a three-year senior unsecured revolving credit facility in an aggregate principal amount of $4.5 billion with the lenders named therein and Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint bookrunners, and Deutsche Bank AG New York Branch and Citibank, N.A., as co-administrative agents.

McDonalds MCD: 12/9/09 8K re: an Investor Release reporting MCD's November and year-to-date 2009 sales.

12/4/09 8K re: resignation of Ralph Alvarez as President & COO effective December 31, 2009 & Director and MCD reduced its size by one for a total of 13 Directors.

Merck MRK: 11/4/09 8K announcing the consummation on November 3, 2009 of the merger of Merck & Co., Inc. &, Schering-Plough Corporation.

Microsoft MSFT: 12/4/09 8K re: the resignation of Christopher P. Liddell, the former chief financial officer and his settlement agreement.

Pfizer PFE: 12/14/09 8K re: amendment of bylaws & change in fiscal year.


Procter & Gamble PG: 12/11/09 8K re: the purchase of Sara Lee's Ambi Pur brand by PG.

12/8/09 8K re: Angela F. Braly being appointed to the Board of Directors, effective December 8, 2009.

12/8/09 8K re: the retirement of Alan G. Lafley, Chairman of the Board and former President & CEO, will retire from his position as Chairman of the Board effective January 1, 2010 & Robert A. McDonald (56), currently President & CEO being elected to Chairman of the Board effective January 1, 2010.

3M MMM: 12/8/09 8K re: 2010 sales and earnings outlook.

Travelers TRV: 12/11/09 8K re: the election of Donald J. Shepard as a director. He is the former chairman of the executive board and chief executive officer of AEGON N.V.

United Technologies UTX: 11/17/09 8K re: its purchase of the GE Security business from GE for $1.82 billion. The closing is pending regulatory approvals. GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.

Verizon Communications Inc. VZ: 12/7/09 8K re:amendments to bylaws.

12/1/09 8K re: agreement with Frontier Communications Corporation establishing a separate entity for its local exchange and related business assets in 14 states that will merge into Frontier. (Arizona, California, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin).

Wal-Mart WMT: 12/8/09 10Q