Thursday, July 8, 2010

7/8/10 Thurs. am Disney Loes "Millionaire" Lawsuit

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Post No. 522. 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, a ranking of the Dow 30 components by market capitalization as of 6/4/10 and an update of the Dow 30 component's SEC filings as of 6/4/10.

A read of Thursday's Wall Street Journal, Financial Times, New York Times, USA Today, 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.

The Dow Jones Industrial Average closed Wednesday at 10,018.28 up 274.66 or 2.82% from Tuesday's close of 9,686.48. Of the 30 Dow Companies: 28 gained and 2 declined. The biggest gainer dollar-wise was 3M MMM $80.54 +2.40 3.07% 4,473,407 NYSE and percentage-wise was Cisco CSCO $22.48 +1.14 5.34% 69,516,631 NASDAQ-GS
NYSE. The biggest decliner dollar-wise and percentage-wise was Verizon VZ $26.5025 -0.1075 0.4% 19,230,426 Dual Listed NYSE.

WSJ pC1 "Stocks roar past 10000 level again" by Jonathan Cheng says stocks rallied, reversed a 3 week slide and pushing the Dow through the 10000 mark as investors grew hopeful for the approaching earnings season. Boosting expectations for the 2Q reports, custodian and money manager State Street projected 2Q profit above analysts' forecasts, citing improving revenue. State Street leapt 9.9% and pulled most big banks along. Among the fin'l sector's other gainers, American Express climbed 5%, JPMorgan advanced 5% and Bank of America rose 4.6%. The tech sector also was strong ahead of an expected solid earnings season, with Cisco adding 5.3% and Hewlett-Packard up 4.2%.

WSJ pC6 "Pop is 11% for AES, Cree Rises" by Donna Yesalavich says stocks rallied broadly Wed in the third biggest one day gain of the year pushing the Dow back above the 10000 level. Financial stocks including JPMorgan and bank of America led the climb boosted by a rosy earnings forecast by State Street and as details on eurozone bank stress removed some uncrtainty. Cisco was the Dow's top performer with a jump of 5.3%.

USA Today p4B "Stocks surge as invstors seek bargains" by AP says the dow climbed back above 10000 Wed afer ivnestors had second thoughts about the heavy selling in the stock market during the last 2 weeks.

As of the open of the market Thursday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132319125 unchanged, the trailing P/E ratio is 14.54 up from Tuesday's 14.15 (year ago it was 11.9189) the P/E estimate is 11.95 unchanged from Tuesday's 11.95 (year ago it was 13.38) and the current dividend yield is 2.77 down from Wednesday's 2.85 (it was 3.516 a year ago). 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 1,325.61 up 36.34 from Tuesday's closing numerator of 1289.27. 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 36.34 for Wednesday by the divisor (0.132319125) you get the increase in Wednesday's Dow of 274.66. A $1 change in the price of any DJIA stock = a 7.56 change in the average.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was $44.19 up 1.22 from Tuesday's Dow Jones Industrial Average average closing price of $42.97. The median closing price of Wednesday's Dow Jones Industrial Average was $39.64 up $1.87 from Tuesday's median price of $37.77. The lowest volume was Travelers TRV $48.93 +1.35 2.78% 4,038,483 NYSE and the highest volume again was Bank of America BAC $14.69 +0.63 4.48% 137,278,492 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 $3,651 ($132,561 - $128,910).

MarketWatch 7/7/10 Wed 4:12 pm by Wallace Witkowski The Dow Jones Industrial Average (DJIA 10,018, +274.58, +2.82%) closed above 10,000 Wednesday for the first time since June 28, boosted by a broad rally in financials, technology and energy stocks. The Dow rose 275 points, or 2.8%, to close at 10,018, marking the largest one-day point gain in the index since May 27. The S&P 500 / (SPX 1,060, +32.21, +3.13%) rose 3.1% to close at 1,060, and the Nasdaq /quotes/comstock/10y!i:comp (COMP 2,159, +65.59, +3.13%) advanced 3.1% to close at 2,159.

AT&T T $24.335 -0.075 0.31% 28,590,363 NYSE: WSJ pB2 "Glitch slowing AT&T Network" by Roger Cheng says AT&T is trying to fix a software defect that is slowing down the wireless connection for more than a million custoemrs looking to send data from smartphones like the iPhone 4 or from laptop modems.

WSJ pD3 "Fix for spotty cellular service" by Roger Cheng is another story saying how AT&T's cellular service is spotty in New ork and discusses devices personal devices that improve signals such as the AT&T 3G Microcell that sells for $149.99 and Verizon's Network Extender that sells for $100.

Alcoa AA $10.53 +0.32 3.13% 20,029,658 NYSE: No mentions found.

Amex AXP $41.13 +1.92 4.9% 10,641,482 NYSE: WSJ pC1 "Stocks roar past 10000 level again" by Jonathan Cheng says stocks rallied, reversed a 3 week slide and pushing the Dow through the 10000 mark as investors grew hopeful for the approaching earnings season. Boosting expectations for the 2Q reports, custodian and money manager State Street projected 2Q profit above analysts' forecasts, citing improving revenue. State Street leapt 9.9% and pulled most big banks along. Among the fin'l sector's other gainers, American Express climbed 5%, JPMorgan advanced 5% and Bank of America rose 4.6%. The tech sector also was strong ahead of an expected solid earnings season, with Cisco adding 5.3% and Hewlett-Packard up 4.2%.

Bank of America BAC $14.69 +0.63 4.48% 137,278,492 NYSE: WSJ pC10 "Double Dip Fear Overdone" by Richard Barley says Bank of America Merrill Lynch has cut its US forecast fro '11 to 2.6% from 2.3%.

WSJ pC1 "Stocks roar past 10000 level again" by Jonathan Cheng says stocks rallied, reversed a 3 week slide and pushing the Dow through the 10000 mark as investors grew hopeful for the approaching earnings season. Boosting expectations for the 2Q reports, custodian and money manager State Street projected 2Q profit above analysts' forecasts, citing improving revenue. State Street leapt 9.9% and pulled most big banks along. Among the fin'l sector's other gainers, American Express climbed 5%, JPMorgan advanced 5% and Bank of America rose 4.6%. The tech sector also was strong ahead of an expected solid earnings season, with Cisco adding 5.3% and Hewlett-Packard up 4.2%.

Boeing BA $63.26 +1.90 3.1% 4,162,841 NYSE: WSJ pB2 "New Tanker Bids Due" by Nathan Hodge says one of the longest running Pentagon projects may be entering its final phase, as firms prepare to resubmit bids for the KC-X, a new air Froce refueling aircraft. KC-X pits Boeing against EADS North America, the US unit of the European Aeroanutic Defence and Space Co. Boeing has proposed a tanker built around its 767 aircraft while EADS's pitch is built around the Airbus A330 jet.

WSJ pC5 Boeing's Offer to purchase the shares of Argon ST, Inc. at $34.50 per share is advertised in a half-page ad.

CAT $62.11 +2.30 3.85% 7,088,599 NYSE: No mentions found.

Chevron CVX $69.45 +1.89 2.8% 13,836,713 NYSE: No mentions found.

CSCO $22.48 +1.14 5.34% 69,516,631 NASDAQ-GS: WSJ pC1 "Stocks roar past 10000 level again" by Jonathan Cheng says stocks rallied, reversed a 3 week slide and pushing the Dow through the 10000 mark as investors grew hopeful for the approaching earnings season. Boosting expectations for the 2Q reports, custodian and money manager State Street projected 2Q profit above analysts' forecasts, citing improving revenue. State Street leapt 9.9% and pulled most big banks along. Among the fin'l sector's other gainers, American Express climbed 5%, JPMorgan advanced 5% and Bank of America rose 4.6%. The tech sector also was strong ahead of an expected solid earnings season, with Cisco adding 5.3% and Hewlett-Packard up 4.2%.

Coke KO $51.51 +1.08 2.14% 9,474,622 NYSE: No mentions found.

Disney DIS $33.15 +1.43 4.51% 12,576,555 NYSE: WSJ pB1 "Jury's Final Anser: Disney Owes "Millionaire" damages" b Nat Worden says a Cal. jury ruled against Disney in favor of Celador Int'l Ltd. over royalties for the hit game show "Who Wants to be a Millionaire" finding that after celador sold the US rights to the show to ABC in '99, Disney units ABC and Buena Vista concealed profits earned nt he show to avoid paying licensing fees.

DuPont DD $35.28 +1.23 3.61% 5,886,833 NYSE: No mentions found.

Exxon XOM $58.41 +0.95 1.65% 38,690,865 NYSE: No mentions found.

GE $14.6101 +0.6401 4.58% 85,182,261 NYSE: WSJ pB4 "FCC to restart renew of Comcast's Deal to acquire GE's NBC" says the FCC stopped the informal 180 day clock for reviewing the deal in June after determing that Comcast and NBC needed to resubmit some data. FC says they expect the reveiw to wrap up later this year.

Hewlett-Packard HPQ $44.98 +1.81 4.19% 16,793,245 NYSE: WSJ pC1 "Stocks roar past 10000 level again" by Jonathan Cheng says stocks rallied, reversed a 3 week slide and pushing the Dow through the 10000 mark as investors grew hopeful for the approaching earnings season. Boosting expectations for the 2Q reports, custodian and money manager State Street projected 2Q profit above analysts' forecasts, citing improving revenue. State Street leapt 9.9% and pulled most big banks along. Among the fin'l sector's other gainers, American Express climbed 5%, JPMorgan advanced 5% and Bank of America rose 4.6%. The tech sector also was strong ahead of an expected solid earnings season, with Cisco adding 5.3% and Hewlett-Packard up 4.2%.

Home Depot HD $28.02 +0.68 2.49% 20,092,132 NYSE: No mentions found.

Intel INTC $20.1425 +0.6615 3.4% 70,417,772 NASDAQ-GS: No mentions found.

IBM $126.97 +3.51 2.84% 6,144,641 NYSE: No mentions found.

JPMorgan JPM $38.14 +1.81 4.98% 39,620,098 NYSE: WSJ pC1 "Stocks roar past 10000 level again" by Jonathan Cheng says stocks rallied, reversed a 3 week slide and pushing the Dow through the 10000 mark as investors grew hopeful for the approaching earnings season. Boosting expectations for the 2Q reports, custodian and money manager State Street projected 2Q profit above analysts' forecasts, citing improving revenue. State Street leapt 9.9% and pulled most big banks along. Among the fin'l sector's other gainers, American Express climbed 5%, JPMorgan advanced 5% and Bank of America rose 4.6%. The tech sector also was strong ahead of an expected solid earnings season, with Cisco adding 5.3% and Hewlett-Packard up 4.2%.

JNJ $60.64 +1.56 2.64% 14,654,777 NYSE: No mentions found.

Kraft KFT $28.8 +0.55 1.95% 8,830,714 NYSE: WSJ pB4 "Amzon opens internet grocer in UK" Amazon.co.uk said it was offering more than 22,000 grocery products inclduing branded items such as Procter & Gamble's Pampers and Kraft's Oreos.

McDonalds MCD $67.33 +1.22 1.85% 6,000,219 NYSE: WSJ pB4 "McDonald's blast criticism of happy meal" says CEO Jim Skinner vowed to defend the firm in its use of toys to promote Happy Meals against a threat bya consumer group to sue it over the practice.

MRK $35.39 +0.74 2.14% 14,605,039 NYSE: No mentions found.

MSFT $24.3 +0.48 2.02% 80,621,130 NASDAQ-GS: No mentions found.

Pfizer PFE $14.61 +0.32 2.24% 49,629,966 NYSE: No mentions found.

Procter & Gamble PG $60.83 +1.49 2.51% 14,306,734 NYSE: WSJ pB4 "Amzon opens internet grocer in UK" Amazon.co.uk said it was offering more than 22,000 grocery products inclduing branded items such as Procter & Gamble's Pampers and Kraft's Oreos.

MMM $80.54 +2.40 3.07% 4,473,407 NYSE: No mentions found.

TRV $49.93 +1.35 2.78% 4,038,483 NYSE: No mentions found.

United Tech UTX $66.55 +1.96 3.03% 5,036,099 NYSE: No mentions found.

Verizon VZ $26.5025 -0.1075 0.4% 19,230,426 Dual Listed: WSJ pD3 "Fix for spotty cellular service" by Roger Cheng is another story saying how AT&T's cellular service is spotty in New ork and discusses devices personal devices that improve signals such as the AT&T 3G Microcell that sells for $149.99 and Verizon's Network Extender that sells for $100.

WMT $48.9125 +0.3425 0.71% 15,117,284 NYSE: No mentions found.

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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson
Alcoa AA Klaus Kleinfeld
American Express AXP Kenneth I. Chenault
Bank of America BAC Brian T. Moynihan
Boeing BA W. James McNerney, Jr.
Caterpillar CAT Douglas Oberhelman
Chevron CVX John Watson
Cisco CSCO John Chambers
Coca Cola KO Muhtar Kent
Disney DIS Robert Iger
DuPont DD Ellen Kullman
ExxonMobil XOM Rex W. Tillerson
GE Jeffrey R. Immelt
Hewlett-Packard HPQ Mark Hurd
Home Depot HD Frank Blake
Intel INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPMorgan Chase JPM Jamie Dimon
Johnson & Johnson JNJ William C. Weldon
Kraft KFT Irene Rosenfeld
McDonald's MCD Jim Skinner
Merck MRK Robert Clark
Microsoft MSFT Steve Ballmer
Pfizer PFE Jeffrey Kindler
Procter & Gamble PG Bob McDonald
3M MMM George W. Buckley
Travelers TRV Jay S. Fishman
United Technologies UTX Louis Chenevert
Verizon VZ Ivan Seidenberg
Wal-Mart WMT Mike Duke

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 6/4/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $283 [4.5]
2. Procter & Gamble PG 244.5 [4]
3. Microsoft MSFT 229 [9]
4. WalMart WMT 190.5 [4]
5. GE 168 [10.5]
6. IBM 161 [1]
7. Johnson & Johnson JNJ 160 [3]
8. Bank of America BAC 155.5 [10]
9. JPMorgan Chase 152 [4]
10. Chevron CVX 144 [2]
11. AT&T 143 [6]
12. Cisco CSCO 132 [6]
13. Pfizer PFE 120 [8]
14. Coke KO 119 [2.5]
15. Intel INTC 117 [5.5]
16. Hewlett-Packard HPQ 108.5 [2.5]
17. Merck MRK 104 [3]
18. Verizon VZ 77 [3]
19. McDonald's MCD 72 [1]
20. Disney DIS 66.5 [2.5]
21. United Technologies UTX 61 [1]
22. 3M MMM 55 [1]
23. Home Depot 54.5 [1.5]
24. Kraft KFT 50 [2]
25. Boeing BA 47 [1]
26. American Express AXP 47 [1]
27. Caterpillar CAT 36.5 [.5]
28. DuPont DD 31 [1]
29. Travelers 24.5 [.5]
30. Alcoa AA 11 [1]

Here are the latest SEC filings as of 6/4/10 other than ownership filings, registration of shares for employee benefit plans, free writing prospectuses and third party shareholder proposals:

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

AT&T T: 5/24/10 8K: re: sale ofl its Sterling Commerce subsidiary to IBM for $1.4 billion in cash. Sterling Commerce provides business to business applications and integration solutions to more than 18,000 customers worldwide. AT&T expects the transaction to close in the second half of '10, subject to receipt of regulatory approvals . AT&T expects to record a one-time, pre-tax gain of $750 million for the quarter in which the transaction closes.

5/6/10 10-Q

5/4/10 8K: re: results from the annual meeting of the stockholders of AT&T Inc. held on April 30, 2010, in Chattanooga, Tennessee.

Alcoa AA: 5/4/10 8K re: Alcoa Inc.’s 2009 Sustainability Highlights Report.

American Express AXP: 6/2/10 8K re: statistics re: worldwide billed business.

5/17/10 8K re: delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended February 28, March 31 and April 30, 2010.

5/5/10 10Q

4/28/10 8-K re: transcript of 4/22/10 American Express live audio conference call/webcast to discuss the Company’s financial results for the three months ended March 31, 2010

Bank of Am BAC: 6/4/10 Free Writing Prospectuses

5/10/10 Rule 424(b) Prospectus

5/7/10 10-Q

Boeing BA: 4/28/10 8-K re: results of its Annual Meeting of Shareholders on April 26, 2010

Caterpiller CAT: 6/1/10 8K re: purchase of Electro-Motive Diesel, Inc. for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC.

5/28/10 8K re: retirement of David B. Burritt, VP & CFO as of 6/1/10.

5/20/10 8K re: statistics re: deliveries to users for its Machinery and Engines lines of business.

5/10/10 Definitive Proxy materials

5/510 8-K re: departure of directors and officers

5/3/10 10Q

Chevron CVX: 6/2/10 8K re: results of 5/26/10 vote at annual meeting for election of Directors & other matters.

5/19/10 definitive proxy materials

5/13/10 8K re: certain revisions of 10-K annual report for year ended 12/31/09.

DuPont DD: 4/29/10 8K re: voting results from annual meeting held on 4/28/10.

4/27/10 10Q

ExxonMobil XOM: 6/1/10 8K re: voting results from 5/26/10 Annual Meeting of Shareholders

5/6/10 10Q

GE: 5/7/10 8K to update fin'l info from form 10K

5/7/10 10Q

Hewlett-Packard HPQ: 6/1/10 8K re: plans to invest $1 billion in its enterprise services business to enhance client experience and better position the business for growth.

5/18/10 8K re: 2Qtr results

Home Depot HD: 6/3/10 10Q

5/25/10 8K re: voting results from 5/20/10 annual meeting of shareholders.

5/18/10 8K re: results for quarter ended 5/2/10

Intel INTC: 5/21/10 8K re: voting results from 5/19/10 annual meeting of stockholders.

5/12/10 8K re: info provided at an Investor meeting by Paul S. Otellini, Pres. & CEO.

5/7/10 8K re: Micron Technology, Inc. completed its acquisition of Numonyx Holdings BV & issued shares of common stock to Numonyx shareholders. In exchange for Intel’s investment in Numonyx, Intel received approximately 64.2 million shares of Micron common stock, and issued a $72 million short-term payable.

5/3/10 10Q

IBM: 5/12/10 8K re: information presented at Investor Briefing on 5/12/10.

4/29/10 8K re: voting results from annual meeting of stockholders on 4/27/10

4/27/10 10Q

JPMorganChase JPM: 6/3/10 Rule 424 Prospectus

5/26/10 8K re: Washington Mutual Litigations.

5/20/10 8K re: voting results from 5/18/10 annual meeting of shareholders

5/10/10 10Q

Johnson & Johnson JNJ : 5/10/10 10 Q

Kraft KFT: 5/21/10 8K: re voting results from 5/18/10 annual meeting of shareholders

5/7/10 10Q

McDonalds MCD: 5/24/10 8K re: voting results of 5/20/10 annual shareholders' meeting

5/17/10 additional proxy materials

5/11/10 8K re: press release re: April and year to date '10 sales.

5/6/10 10Q

Merck MRK: 5/28/10 8K re: Kenneth C. Frazier to succeed Richard T. Clark as Pres. Of the Company as of 5/1/10 and Dr. Sam Their's retirement from the Board & voting results from 5/25/10 annual meeting of shareholders.

5/11/10 8K re: information presented at 5/11/10 Annual Business Briefing

5/7/10 10Q

Microsoft MSFT: 5/28/10 8K re: retirement of Robbie Bach, pres. Of Entertainment & Devices Div.

Pfizer PFE: 5/26/10 8K re: retirement of Dr. Martin Mackay, Sr. VP & Pres, Pharma Therapeutics R&D of Pfizer Inc.

5/13/10 10Q

5/4/10 8K re: 1Qtr results

4/28/10 8K re: voting results of Pfizer's annual meeting of shareholders held on 4/22/10

Procter & Gamble PG: 5/19/10 8K re: closing of 100 bil Euro 0.955 Note Offering due 2015.

4/30/10 10Q

3M MMM: 5/17/10 8K re: reclassification of certain data in 10K for 12/31/09.

5/12/10 8K re: voting results of 5/11/10 annual meeting of stockholders.

5/5/10 10Q

Travelers TRV: 5/7/10 8K re: voting results of 5/4/10 annual meeting of shareholders

4/23/10 10Q

United Technologies UTX: 5/14/10 8K re: exercise of its rights to redeem $500 mil of outstanding 7.125% Notes due 11/15/10.

4/26/10 10Q

Verizon Communications Inc. VZ: 5/27/10 8K re: record date of 6/7/10 re: proposed spinof of shares of New Communications Holdings.

5/12/10 8K re: voting results from 5/6/10 annual meeting of shareholders.

4/28/10 10Q

WalMart WMT: 6/14/10 10Q.

5/18/10 8K reconciliation of non-GAP measures.