Thursday, December 30, 2010

12/30/10 Thurs pm Dow Closes at 11,569.71 down 15.67 or 0.14%

www.DowJonesMonitor.com

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Post No. 801 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 Dec. 7, 2010 and Dow 30 component's SEC filings as of Dec. 11, 2010.

The Dow Jones Industrial Average closed Thursday at 11,569.71 down points or 0.14% from Wednesday's close of 11,585.38. Of the 30 Dow Jones component companies 7 gained and 23 declined. The biggest gainer dollar-wise was Chevron CVX $91.6 +0.23 0.25% 4,111,829 NYSE and percentage-wise was Intel INTC $21.02 +0.08 0.38% 18,684,393 NASDAQ-GS
. The biggest decliner dollar-wise and percentage-wise was American Express AXP $42.51 -0.35 0.82% 4,295,968 NYSE.

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 0.132129493. The trailing P/E is 14.77 up from Wednesday's 14.76 (year ago it was 18.30); the P/E estimate is 13.54 unchanged from Wednesday's 13.54 (year ago it was 16.00), and the dividend yield is 2.48 unchanged from Wednesday's 2.48 (last year it was 2.61). 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 1,528.69 down 2.08 from Wednesday's closing numerator of 1,530.77. 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 7.56 change in the average.

The average closing price (the closing numerator divided by 30) of Thursday's Dow Jones Industrial Average was $50.96 down $0.07 from Wednesday's Dow Jones Industrial Average average closing price of $51.03. The median closing price of Thursday's Dow Jones Industrial Average was $42.39 (AXP/HPQ down $0.20 from Wednesday's median closing price of $42.59. The lowest volume was Travelers TRV $55. NYSE and the highest volume was again Bank of America BAC $13.28 -0.03 0.23% 87,166,259 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 $197 ($153,077 - $152,880).

MarketWatch Thursday 12/30/10 4:09 by Nick Godt says U.S. stocks fell slightly on Thursday, as low trading volumes and bearish Chinese manufacturing data offset upbeat U.S. economic reports. The Dow Jones Industrial Average (DJIA 11,570, -15.67, -0.14%) finished down 15.67 points, or 0.1%, at 11,569.71, with 23 of its 30 components ending lower. The S&P 500 index (SPX 1,258, -1.90, -0.15%) fell 0.2% to 1,257.88, weighed down by its financials and healthcare sectors. The Nasdaq Composite (COMP 2,663, -3.95, -0.15%) lost 0.2% to 2,662.98.

Thursday's Closing Dow Numbers:


AT&T T $29.33 +0.02 0.07% 12,658,335 NYSE
Alcoa AA $15.21 +0.08 0.53% 14,168,289 NYSE
American Express AXP $42.51 -0.35 0.82% 4,295,968 NYSE
Bank of America BAC $13.28 -0.03 0.23% 87,166,259 NYSE
Boeing BA $65.01 -0.04 0.06% 2,339,683 NYSE
Caterpillar CAT $93.87 +$29.33 0.02 0.07% 12,658,335 NYSE
Chevron CVX $91.6 +0.23 0.25% 4,111,829 NYSE
CSCO $20.23 -0.02 0.1% 25,386,576 NASDAQ-GS
Coke KO $65.5 +0.05 0.08% 4,624,852 NYSE
DIS $37.48 -0.12 0.32% 3,378,819 NYSE
DuPont DD $49.69 -0.33 0.66% 2,236,160 NYSE
Exxon XOM $73.36 -0.01 0.01% 10,696,934 NYSE
GE $18.19 -0.08 0.44% 28,776,540 NYSE
Hewlett-Packard HPQ $42.26 -0.06 0.14% 6,729,912 NYSE
Home Depot HD $34.86 -0.03 0.09% 6,456,678 NYSE
Intel INTC $21.02 +0.08 0.38% 18,684,393 NASDAQ-GS
IBM $146.67 +0.15 0.1% 3,012,779 NYSE
JPMorgan JPM $42.23 -0.13 0.31% 12,690,554 NYSE
JNJ $61.94 -0.19 0.31% 5,723,496 NYSE
KFT $31.51 -0.05 0.16% 3,990,181 NYSE
MCD $76.76 -0.23 0.3% 2,557,722 NYSE
MRK $36.01 -0.20 0.55% 5,070,191 NYSE
MSFT $27.85 -0.12 0.43% 20,470,066 NASDAQ-GS
Pfizer PFE $17.49 -0.11 0.63% 29,430,544 NYSE
Procter & Gamble PG $64.28 -0.12 0.19% 3,788,125 NYSE
MMM $86.54 -0.22 0.25% 1,498,170 NYSE
Travelers TRV $55.54 -0.05 0.09% 1,294,686 NYSE
United Tech UTX $78.85 -0.25 0.32% 1,499,855 NYSE
Verizon VZ $35.56 -0.02 0.06% 9,222,329 DualListed
Walmart WMT $54.07 -0.01 0.02% 6,285,516 NYSE



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The following are excerpts from Thurs. morning's Blog.

A read of Thursday's Wall St. Journal, Financial Times, New York Times, 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 Wednesday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 11,585.38 up 9.84 points or 0.09% from Tuesday's close of 11,575.54. For the year the Dow is up 11.1%. Of the 30 Dow Jones component companies 17 gained and 13 declined. The biggest gainer dollar-wise was IBM $146.52 +0.81 0.56% 3,658,304 NYSE and percentage-wise was McDonald's MCD $76.99 +0.56 0.73% 3,581,065 NYSE. The biggest decliner dollar-wise was Procter & Gamble PG $64.4 -0.36 0.56% 4,908,076 NYSE and percentage-wise was Kraft KFT $31.56 -0.30 0.94% 5,258,863 NYSE.

WSJ pC6 "DJIA tacks on 9.84 points to a strong Dec run" by Jonathan Cheng says stocks extended their strong Dec runs as gains in he energy sector & a drop in the US dollar propelled stocks to a fresh 2 year high. The Dow is up more than 5% this month. McDonald's led the Dow Wed with an advance of 56 cents.

Fin Times p18 "Rumours of more retail mergers help stocks edge ahead" by Hannah Kuchler says rumours of more buy out activity in the retail sector and a boost to shares in rare earth firms helped US stocks nudge up.

NYT pB3 "Crude oil prices stay strong, helping indexes to rally" by Bloomberg says the major stock indexes extended their rally on Wed, led by energy firms as crude oil remained above $90 for a 5th consecutive day.

USA Today p4B "Stocks on track for a top Dec" by David K. Randall says stocks finished higher Wed as the market continued on pace for tis best Dec in nearly 20 years. Trading continued to be thin ahead of the New Year's weekend. In the absence of any fresh economic data or major corp news, investors were attracted to the gov's latest bond auction.

Wednesday's Dow Jones Industrial Average closing numerator was 1,530.77 up 1.30 from Tuesday's closing numerator of 1,529.47. 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 7.56 change in the average.

The average closing price (the closing numerator divided by 30) of Wednesday's Dow Jones Industrial Average was $51.03 up $0.05 from Tuesday's Dow Jones Industrial Average average closing price of $50.98. The median closing price of Wednesday's Dow Jones Industrial Average was $42.59 (AXP/HPQ up $0.07 from Tuesday's median closing price of $42.52. The lowest volume was Travelers TRV $55.59 -0.07 0.13% 1,375,731 NYSE and the highest volume was again Bank of America BAC $13.31 -0.03 0.22% 73,802,555 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 $130 ($153,077 - $152,947 - $).

MarketWatch Wednesday 12/29/10 4:36 by Kate Gibson says U.S. stock indexes ended modestly higher Wednesday, amplifying a rise that has the Dow Jones Industrial Average two days from finishing 2010 with a double-digit gain. “Funds are positioned as they would like to be for the end-of-the-year photo,” said Marc Pado, U.S. market strategist at Cantor Fitzgerald, of the light volume and narrow volatility range that have marked recent sessions. AIG stock's unlikely comeback Once left for dead, AIG has defied critics, its shares rallying to become one of the top performers in 2010, up nearly 97% and more than 42% in December alone. Evan Newmark and Ken Brown discuss. Also, there are money moves before year-end to reap benefits in 2011. “It would take a major bit of news to derail their plan,” he added. After closing Tuesday at its highest level since Aug. 28, 2008, the Dow Jones Industrial Average (DJIA 11,585, +9.84, +0.09%) ended up 9.84 points, or 0.09%, at 11585.38. Seventeen of the Dow’s 30 components gained, with fast-food giant McDonald’s Corp. (MCD 77.00, +0.01, +0.01%) leading the gainers. Up for a third straight session and by 13% for the year, the S&P 500 Index (SPX 1,260, +1.27, +0.10%) gained 1.27 points, or 0.1%, to 1,259.78, with energy companies gaining the most and financials ranking as the biggest laggard among the 10 S&P industry groups. The Nasdaq Composite Index (COMP 2,667, +4.05, +0.15%) rose 4.05 points, or 0.15%, at 2,666.93. Advancers outran decliners 19 to 11 on the New York Stock Exchange, where volume hit 520 million shares, just over half of the 30-day average. The narrow range of the last week has been frustrating for both bulls and bears, with bulls watching the S&P creep to new highs but with “no oomph,” and the bears tracking how the averages continue to hold their 10-day moving averages, said Elliot Spar, market strategist at Stifel, Nicolaus & Co. But Spar expects the narrow range to be resolved next week, saying “new money can come in at the beginning of the year, yet old money will have a chance to cash out and not have to pay the cash bill until April 2012.” With 2010 ending on a high note for equities, investors are now the most bullish they have been since 2004, according to Jeffrey Kleintop, chief market strategist at LPL Financial, who adds a cautionary note. “History tells us that when there are too many bulls the market may be due for a pullback,” said Kleintop, who forecasts a “middle-of-the-road” 2011 that he said should offer single-digit percentage gains for stocks, low to middle single-digit gains for bonds and a U.S. economy that muddles along at a 2.5% to 3% growth pace. ‘History tells us that when there are too many bulls the market may be due for a pullback.’ On Wednesday, Sears Holdings Corp. (SHLD 73.85, -0.64, -0.86%) shares (SHLD 73.85, -0.64, -0.86%) climbed after Sonic Solutions said the retailer was using its technology in entering the online film-downloading business. Shares of BJ’s Wholesale Club Inc. (BJ 47.80, +0.18, +0.38%) rose 7% after the New York Post cited unnamed sources in reporting buyout firm Leonard Green & Partners might launch a hostile bid for the warehouse-club operator.
On the New York Mercantile Exchange, gold futures climbed for a third day, with the contract for February delivery rising $8, or 0.6%, to $1,413.50 an ounce on Comex. At Tuesday’s finish, gold was up 28% in 2010. On Thursday, the Institute for Supply Management in Chicago is scheduled to release data illustrating U.S. business expansion in December. Separately, the National Association of Realtors will report on pending sales of previously owned homes in November from October.

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

AT&T T $29.31 +0.08 0.27% 12,208,176 NYSE: WSJ pC12 "Telecoms ride choppy data wave" Hester Plumridge says Europe's telecom firms are introducing variable pricing plans for data which AT&T has already done in the US to charge more for heavy data users.

Alcoa AA $15.13 -0.12 0.79% 16,999,857 NYSE: No mentions found.

Amex AXP $42.86 +0.07 0.16% 3,201,994 NYSE: No mentions found.

Bank of Am BAC $13.31 -0.03 0.22% 73,802,555 NYSE: No mentions found.

Boeing BA $65.05 +0.19 0.29% 2,504,204 NYSE: No mentions found.

Caterpillar CAT $93.78 +0.09 0.1% 2,777,597 NYSE: No mentions found.

Chevron CVX $91.37 +0.18 0.2% 5,275,024 NYSE: No mentions found.

CSCO $20.25 -0.10 0.49% 32,889,257 NASDAQ-GS: No mentions found.

Coke KO $65.45 +0.09 0.14% 4,367,990 NYSE: No mentions found.

Disney DIS $37.6 +0.24 0.64% 5,096,301 NYSE: No mentions found.

DuPont DD $50.02 +0.20 0.4% 3,693,717 NYSE: No mentions found.

Exxon XOM $73.37 -0.05 0.07% 11,749,790 NYSE: No mentions found.

GE $18.27 -0.05 0.27% 34,493,015 NYSE: No mentions found.

Hewlett-Pac HPQ $42.32 +0.07 0.17% 8,645,456 NYSE: WSJ pC12 "Japan Inc. acts the tortoise when a rabbit would do" by James Simms says electronic businesses in Japan are merging in order to be more efficient to compete with South Korean firms. Hon Hai Precision is examined which makes devices for Hewlett-Packard.

WSJ pB6 "A year of crisis management" by Suzanne Vranica talks about the year's biggest pr fiasco's and discusses the Hewlett-Packard departure of CEO Mark Hurd and Johnson & Johnson's recalls of Tylenol and other otc products.

Home Depot HD $34.89 -0.20 0.57% 6,125,758 NYSE: No mentions found.

Intel INTC $20.94 +0.06 0.29% 20,791,952 NASDAQ-GS: WSJ pB1 "Entrants flood race to rival iPad" by Ian Sherr says a host of firms will show gadgets that will compete with Apple's iPad at the Consumer Electronics Show next week in Las Vegas. The stakes are high for Microsoft and Intel, kingpins of PC tech that have so far struggled to match athe momentum in tablets of Google's Android software and chip designs from ARM Holding.

IBM $146.52 +0.81 0.56% 3,658,304 NYSE: No mentions found.

JPMorgan JPM $42.36 -0.25 0.59% 13,236,876 NYSE: WSJ pA1 "Banks open loan spigot" by Ruth Simon says JPMorgan's loans to mid market firms with rev between $10 and $500 mil have increased 7% this year.

Johnson & Johnson JNJ $62.13 +0.08 0.13% 4,965,065 NYSE: WSJ pB6 "A year of crisis management" by Suzanne Vranica talks about the year's biggest pr fiasco's and discusses the Hewlett-Packard departure of CEO Mark Hurd and Johnson & Johnson's recalls of Tylenol and other otc products.

Kraft KFT $31.56 -0.30 0.94% 5,258,863 NYSE: No mentions found.

McDonald's MCD $76.99 +0.56 0.73% 3,581,065 NYSE: WSJ pC6 "DJIA tacks on 9.84 points to a strong Dec run" by Jonathan Cheng says stocks extended their strong Dec runs as gains in he energy sector & a drop in the US dollar propelled stocks to a fresh 2 year high. The Dow is up more than 5% this month. McDonald's led the Dow Wed with an advance of 56 cents.

MRK $36.21 +0.01 0.03% 5,001,078 NYSE: No mentions found.

Microsoft MSFT $27.97 -0.04 0.14% 19,477,534 NASDAQ-GS: WSJ pB1 "Entrants flood race to rival iPad" by Ian Sherr says a host of firms will show gadgets that will compete with Apple's iPad at the Consumer Electronics Show next week in Las Vegas. The stakes are high for Microsoft and Intel, kingpins of PC tech that have so far struggled to match athe momentum in tablets of Google's Android software and chip designs from ARM Holding.

Pfizer PFE $17.6 +0.01 0.06% 23,632,627 NYSE: WSJ pB3 "Pfizer to Buy Vet diagnostics firm" by John Kelly says Pfizer will buy Synbiotics a developer of vet diagnostics products as it looks to tap into a growing segment of the animal health industry.

Procter & Gamble PG $64.4 -0.36 0.56% 4,908,076 NYSE: No mentions found.

MMM $86.76 +0.02 0.02% 1,665,522 NYSE: No mentions found.

Travelers TRV $55.59 -0.07 0.13% 1,375,731 NYSE: No mentions found.

United Tech UTX $79.1 -0.19 0.24% 1,558,069 NYSE: No mentions found.

Verizon VZ $35.58 -0.04 0.11% 14,290,636 DualListed: No mentions found.

Walmart WMT $54.08 +0.34 0.63% 7,626,223 NYSE: No mentions found.

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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. (Cyhicago, 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 Leo Apotheker (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (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 1/1/11 replaces Richard Clark (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 Ivan Seidenberg (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 12/7/10 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $361 [5]
2. Microsoft MSFT 233 [9]
3. WalMart WMT 200 [3.5]
4. GE 182.5 [10.5]
5. IBM 179 [1]
6. Procter & Gamble PG 176 [3]
7. Chevron CVX 174 [2]
8. Johnson & Johnson JNJ 171 [3]
9. AT&T T 169 [6]
10. JPMorgan Chase JPM 154 [4]
11. Coke KO 149 [2.5]
12. Pfizer PFE 134.5 [8]
13. Intel INTC 120.5 [5.5]
14. Bank of America BAC 117 [10]
15. Cisco CSCO 111 [6]
16. Merck MRK 109 [3]
17. Verizon VZ 98 [3]
18. Hewlett-Packard HPQ 96 [2.5]
19. McDonald's MCD 85 [1]
20. United Technologies UTX 72.5 [1]
21. Disney DIS 71 [2]
22. 3M MMM 60.5 [.5]
23. Caterpillar CAT 57.5 [.5]
24. Home Depot 55 [1.5]
25. American Express AXP 54 [1]
26. Kraft KFT 53.5 [2]
27. Boeing BA 48.5 [1]
28. DuPont DD 45 [1]
29. Travelers 25.5 [.5]
30. Alcoa AA 14.5 [1]

Here are the latest 8K, 10Q & 10K SEC filings as of 12/11/10:

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

AT&T T: 12/7/10 8K re: replacement of existing 5 year $9.4 bil revolving credit facility
12/1/10 8K re: redemption of all 7.8% notes due 3/1/11
11/5 10Q for quarter ending 9/30/10

Alcoa AA: 10/22/10 10Q for 3Q ended 9/30/10
10/12 8K re: transcript of 3Q earnings conference
10/8/10 8K re: 3Q results

American Express AXP: 11/15/10 8K re: delinquency & write-off statistics for period ending 10/31/10
11/3/10 10Q for quarter ending 9/30/10
11/2/10 8K re: changes to retirement plan for officers

Bank of Am BAC: 11/5/10 10Q for quarter ending 9/30/10
11/5/10 8K re: status of Countrywide litigation
10/20/108K re: registration of 50,354,545 shares

Boeing BA: 12/3/10 8K re: election o Ronald A. Williams to Board of Directors and the Audit & Finance Committees
11/16/10 8K re: $2.3 bil 364 day revolving credit agreement

Caterpiller CAT: 12/10/10 8K re: election of Jesse J. Greene, Jr. & Miles D. White to Board of Directors and Greene to the Audit Committee & White to Governance Committee
12/7/10 8K re: entering into bridge loan of up to $8.6 bil
11/18/10 8K re: status of acquisition of Bucyrus
11/18/10 8K 3 month dealer statistics
11/15/10 8K re: acquisition of Bucyrus for $8.6 bil to close mid '11
11/12/10 8K/A resignation of Gail D. Foster from Board of Directors
11/4/10 10Q for quarter ending 9/30/10

Chevron CVX:11/5/10 10Q for quarter ending 9/30/10
10/29 8K re 3Q net income of $3.77 bil down from $3.83 bil for 3Q '09

Cisco CSCO 11/23/10 10Q for quarter ending 10/30/10

Coke KO 12/9/10 8K re: election of Howard G. Buffett to Board of Directors & Public Issue & Diversity Relations Committees
12/1/10 8K/A re: technical amendment of prior 8K
11/23/10 8K re: result of cash tender offer for debt
11/18/10 8K re: completion of note offering
11/16/10 8K re: resignation of Cathleen p. Black from Board to become Chancellor of NYC Schools
11/8/10 8K re: underwriting agreement for issuance of notes
11/4/10 8K re tender offer for CCE debt
10/29/10 10Q for quarter ending 10/1/10

Disney DIS 11/24/10 10K for year ending 10/2/10
11/12/10 8K re: results of 4Qtr earnings

DuPont DD: 12/10 8K re: retirement of Jeffrey L, Keefer as EVP
10/21/10 10Q for 3rd quarter ending 9/30/10
10/26/10 8K re 3Q results

ExxonMobil XOM: 11/30/10 8K re: revisions to officers' compensation plan
11/16/10 10Q re 3Q results ending 9/30/10
10/28/10 8K re: 3Q results
10/22/10 SC TO-C re: offer to buy Clarinet Inc., a cancer diagnostic firm

GE: 11/3/10 10Q re 9/30/10 results

Hewlett-Packard HPQ: 12/2/10 8K re: underwriting agreement for issuance of notes
11/22/10 8K re: 4Q results
10/18/10 8K re: election of Leo Aptheker as Pres/CEO

Home Depot HD: 12/2/10 10Q re: results for period ending 10/31/10
11/16/10 8K re: update of fiscal year '10 guidance

Intel INTC: 11/12/10 8K re: 15% increase of quarterly cash dividend
11/2/10 10Q for quarter ending 9/25/10

IBM: 12/8/10 8K re: underwriting agreement re: debt
12/6/10 8K re: resignatin of Cathleen Black from Board of Directors
10/26/10 10Q for period ending 9/30/10

JPMorganChase JPM: 10/28/10 8K/A re: amendment to replace capital covenants re: debt
10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements
10/14/10 8K re: investor conference re: 3Q results

Johnson & Johnson JNJ : 11/10/10 10Q for quarter ending 10/3/10

Kraft KFT:12/6/10 8K re: seeking preliminary injunction vs. Starbucks
11/30/10 8K re: arbitration with Starbucks'11/29/10 8K re: cash debt tender offer to holders of $1 bil of notes
11/8/10 8K re: status of agreement with Starbucks'
11/5/10 10Q for quarter ending 9/30/10
11/4/10 8K re: 3Q results

McDonalds MCD: 12/10 8K re: amendment of Cert. of Incorp re: designations of rights of preferred stock
12/9/10 8K re: global sales results
11/9/10 8K re: results of global sales results
11/5/10 8K re: resignation of Denis Hennequin as President of McDonald's Europe to be replaced by Steve Easterbook
11/5/10 10Q for period ending 9/30/10

Merck MRK: 12/10/10 8K re: sale of 2.2% notesw due '16
11/30/10 8K re: election of Kenneth C. Frazier a CEO with Richard T. Clark staing as Chair
11/8/10 10Q for period ending 9/30/10

Microsoft MSFT: 11/19/10 8K re: results of 11/16/10 Annual Meeting of Shareholders

Pfizer PFE: 12/9/10 8K re: resignation of Jeffrey B. Kindler as CEO & election of Ian C. Read as Pres/CEO
11/12/10 10Q for quarter ending 10/3/10
11/2/10 8K re: 3Q results
10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's purchase of King Pharmaceuticals, Inc.

Procter & Gamble PG: 11/18/10 8K re: close of sale of $1 bil of 1.8% notes due '15
10/28/10 10Q for period ending 9/30/10
10/27/10 8K re: results for quarter ending 9/30/10

3M MMM: 12/7/10 8K re: re: financial outlook for '11
11/5/10 10Q re: quarter ending 9/30/10'
10/28/10 8K re: 3Q results of $6.9 bil sales

Travelers TRV: 11/10/10 8K re: completion of tender offer for 6.25% debentures due '67
11/9/10 8K re: modification of rights of holders of 6.75% notes due '36
11/8/10 re: purchase of 43% of a Brazilian surety
11/8/10 8K & 11/5/10 8K re: amendment of consent solicitation of 6.75% notes
11/1/10 8K re: underwriting agreement for sale of notes
10/27/10 8K re: tender offer to holders of 6.25% due '67

United Technologies UTX: 12/10/10 8K re: election of Ellen Kullman, DuPont CEO to Board of Directors
12/10/10 8K re: resignation of Carlos M. Gutierrez from Board
10/25/10 10Q for period ending 9/30/10

Verizon Communications Inc. VZ: 12/8/10 8K/A re: Board committee assignments of Rodney E. Slater
11/10/10 8K/A re: election of Lowell C. McAdam as Pres/COO & Francis J. Shammo EVP & CFO
10/28/10 10Q for period ending 9/30/10

WalMart WMT: 12/6/10 10Q for period ending 10/31/10
11/16/10 8K re: 3 Qtr EPS 0.95 cents and raising full year EPS guidance from $3.95 to $4.05