Wednesday, January 19, 2011

1/19/11 Wed am Boeing Delays 787 Del.;IBM Reports Strong Rev; Comcast/NBC Deal OK'd

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Post No. 833 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 and Dow 30 component's SEC filings as of January 10, 2011.

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

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Tuesday at 11,837.93 up 50.55 points or 0.43% from Friday's close of 11,787.38. For th year the Dow is up 2.25%. Of the 30 Dow Jones component companies 20 gained and 10 declined. The biggest gainer dollar-wise and percentage-wise was Boeing BA $72.47 +2.40 3.43% 9,575,424 NYSE. The biggest decliner dollar-wise and percentage-wise was Verizon VZ $34.36 -1.10 3.1% 41,947,103 Dual Listed.

WSJ pC5 "Stocks rise, ignoring drops by Citi, Apple" by Brendan Conway says US stocks hit multiyear highs as investors shrugged off slides in Apple & Citigroup & materials shares gained on data confirming manufacturing strength. The Dow hit its highest close since 6/23/08. Caterpillar and Boeing made up mroe than half of the Dow's climb with Boeing rising on new its expects to deliver its first 787 Dreamliner in Q3. Caterpillar climbed 2.8% while Alcoa, another proxy for views on global growth, gained 1.9%.

Fin Times p24 "blow for techs as concerns about Apple chief's health trigger retreat by Michael Stothard says shares in Apple lost ground after Steve Jobs announced he would take a medical leave of absence. IBM closed up 0.4% on expectations that it would post strong results after the market close.

USA Today p3B ":Manufacturers push markets higher" by Chip Cutter says Boeing and Caterpillar led stocks higher on Tues, pushing the Dow it its highest close since June 2008.

As of the open of the market Wednesday, 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 14.93 up from Tuesday's 14.87 (year ago it was 17.98); the P/E estimate is 12.75 unchanged from Tuesday's 12.75 (year ago it was 13.65), and the dividend yield is 2.43 down from yesterday's 2.44 (last year it was 2.55). 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.

Tuesday's Dow Jones Industrial Average closing numerator was 1,564.14 up 6.69 from Friday's closing numerator of 1,557.45. 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 Tuesday's Dow Jones Industrial Average was $52.14 up $0.22 from Friday's Dow Jones Industrial Average average closing price of $51.92. The median closing price of Tuesay's Dow Jones Industrial Average was $46.35 (HPQ/AXP) up $0.10 from Friday's median closing price of $46.25. The lowest volume was 3M MMM $88.14 +0.04 0.05% 2,295,491 NYSE and the highest volume was again Bank of America BAC $15.-0.25 1.64% 196,604,899 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 $668 ($156,414 - $155,746).

MarketWatch Tuesday 1/18/11 4:43 by Kate Gibson says U.S. stocks finished higher on Tuesday, after upbeat manufacturing data helped lift the energy and materials sectors, offsetting disappointing earnings from Citigroup Inc. and concerns about Apple Inc. “Given today’s resiliency in the face of Apple and Citi, the bulls are still in charge,” said Elliot Spar, market strategist at Stifel Nicolaus. The Dow Jones Industrial Average (DJIA 11,838, +50.55, +0.43%) rose 50.55 points, or 0.4%, to 11,837.93, with 20 of its 30 components higher. Boeing (BA 72.47, +2.40, +3.43%) led the blue chips, rising 3.4% after the company said it now expects to deliver its new 787 jet in the third quarter. Last week, the Dow finished its seventh straight week of gains. Monday’s advance once again led it to its highest level since mid-2008. U.S. financial markets were closed Monday. The S&P 500 (SPX 1,295, +1.78, +0.14%) gained 1.78 points to end at 1,295.02, with energy and materials the best performers of its 10 industry groups. Telecommunications fared the worst. Helping sentiment, a report released ahead of Wall Street’s start showed expansion in manufacturing this month in the New York region, with the Federal Reserve Bank of New York’s general economic index climbing to 11.9 from a revised 9.9 in December. Shares of iPod maker Apple (AAPL 346.19, +5.54, +1.63%) slumped 2.3% after news that Steve Jobs, its cofounder and chief executive, would be taking another medical leave. Apple released its earnings after Tuesday’s close. While Apple, with a market capitalization of $320 billion, is the second-largest company in the S&P 500, its weighting in the index amounts to a mere 2.72%, noted Mike O’Rourke, chief market strategist at BTIG LLC. The impact of Jobs’s medical leave was more readily apparent in the Nasdaq 100 (NDX 2,329, +5.36, +0.23%) , where Apple has a 20.7% weighting and has “fueled that index’s recovery to new, nearly decade-long highs last month,” O’Rourke said. “In a market placing a high degree of focus upon individual stocks, this represents the first test of 2011’s rising risk appetite,” the analyst noted. The Nasdaq 100 (NDX 2,329, +5.36, +0.23%) edged up 0.2% to 2,328.79. The Nasdaq Composite Index (COMP 2,766, +10.55, +0.38%) rose 10.55 points, or 0.4%, to 2,765.85. Advancing issues topped decliners by 8 to 7 on the New York Stock Exchange, where volume topped 1.2 billion. On Tuesday, banking giant Citigroup (C 4.85, +0.05, +1.04%) reported fourth-quarter earnings that missed Wall Street’s expectations, while Delta Air Lines Inc. (DAL 11.75, +0.05, +0.41%) also reported results that came up short. “The reports from Delta and Citigroup may bring some sense of reality to Wall Street, reminding investors that there will be some negative earnings surprises this quarter,” said Fred Dickson, chief investment strategist at Davidson Cos. Shares of Citigroup fell 6.4%, while those of Delta retreated 8.2%. Wall Street offered little reaction to the National Association of Home Builders’ report that its housing-market index held steady at 16 in January for a third consecutive month. “We knew housing remains depressed in many areas of the country and thus the data are neither a surprise nor market moving,” said Peter Boockvar, equity strategist at Miller Tabak.

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


AT&T T $28.33 -0.10 0.35% 31,127,136 NYSE: No mentions found.

Alcoa AA $16.271 +0.301 1.88% 34,093,953 NYSE: WSJ pC5 "Stocks rise, ignoring drops by Citi, Apple" by Brendan Conway says US stocks hit multiyearhighs as investors shrugged off slides in Apple & Citigroup & materials shaers gained on data confirming manufacturing strength. The Dow hit its highest close since 6/23/08. Caterpillar and Boeing made up mroe than half of the Dow's climb with Boeing rising on new its expects to deliver its first 787 Dreamliner in Q3. Caterpillar climbed 2.8% while Alcoa, anotehr proxy for views on global growth, gained 1.9%.

Amex AXP $46.37 +0.12 0.26% 7,960,474 NYSE: No mentions found.

Bank of America BAC $15 -0.25 1.64% 196,604,899 NYSE: WSJ pC1 "AIG, Treasury pick 4 banks as co-heads in share sale" by Serena Ng says American Internat'l Group and the US Treasury picked JPMorgan, Goldman, Bank of America and Deutsche bank to lead their first large offering of AIG shares for a cut rate fee.

Boeing BA $72.47 +2.40 3.43% 9,575,424 NYSE: WSJ pB3 "Boeing again delays 787 delivery" by Peter Sanders, Fin times p18 "Boeing reveals another delay to Dreamliner" by Pilita Clark, NYT pB3 "Boeing again delays delivery of Deramliner" by Chris Drew say Boeing will delivery its first 787 Dreamliner sometime in Q3 mroe than 3 years behind schedule. The 7th delay comes 2 mnths after an inflight electrical fire forced Boeing to halt their testing of 6 test Dreamliners. It has orders or 847 Dreamliners from 56 customers.

WSJ pC5 "Stocks rise, ignoring drops by Citi, Apple" by Brendan Conway says US stocks hit multiyearhighs as investors shrugged off slides in Apple & Citigroup & materials shaers gained on data confirming manufacturing strength. The Dow hit its highest close since 6/23/08. Caterpillar and Boeing made up mroe than half of the Dow's climb with Boeing rising on new its expects to deliver its first 787 Dreamliner in Q3. Caterpillar climbed 2.8% while Alcoa, another proxy for views on global growth, gained 1.9%.

Daily Report p6 "Delta may set record with order for 200 jets" by Mary Jane Credeur of Bloomberg says some of these orders may begin as soon as '13 and be from Beoing.

Caterpillar CAT $96.23 +2.22 2.36% 8,784,530 NYSE: WSJ pC5 "Stocks rise, ignoring drops by Citi, Apple" by Brendan Conway says US stocks hit multiyearhighs as investors shrugged off slides in Apple & Citigroup & materials shaers gained on data confirming manufacturing strength. The Dow hit its highest close since 6/23/08. Caterpillar and Boeing made up mroe than half of the Dow's climb with Boeing rising on new its expects to deliver its first 787 Dreamliner in Q3. Caterpillar climbed 2.8% while Alcoa, anotehr proxy for views on global growth, gained 1.9%.

Chevron CVX $93.35 +0.52 0.56% 7,688,982 NYSE: No mentions found.

CSCO $21.215 +0.005 0.02% 45,981,005 NASDAQ-GS: No mentions found.

Coke KO $63.48 +0.35 0.55% 8,112,221 NYSE: AJC pA11 "Coke looks to results as social PR trio returns" by Jeremiah McWilliams say Coke sponsored an expedition for three people to record scenes of happiness around the world.

Disney DIS $39.39 0.10 0.25% 7,857,598 NYSE: WSJ pB7 "Comcast cleared to bu NBC" by Jessica Vascellaro says fed regulators signed off on Comcast's bid to control NBC Universal, imposing an array of conditions aimed at preventing Comcast from unfairly hindering competitors whle making some of its first moves to regulate the emerging online video market. Comcast will get control of NBC Universal from GE whose assets include tv and move business. Comcast will own 51% of the joint venture for $13.75 bil. Comcast will have to give up rights to its online video site Hulu which is jointly owned by NBC Universal, News Corp. and Disney.

DuPont DD $49.7 -0.10 0.2% 5,899,552 NYSE: No mentions found.

Exxon XOM $78.71 +0.87 1.12% 23,785,150 NYSE: No mentions found.

GE $18.6 -0.2175 1.16% 70,345,486 NYSE: WSJ pB7 "Comcast cleared to bu NBC" by Jessica Vascellaro, Fin times p17 "Comcasat green light for NBCU" by David Gelles, NYT pB9 "Comcast receives approval for NBCU Universal merger" by Tim Arango, USA Today p1B "Comcast gets OK to acquire NBC" by David Lieberman say fed regulators signed off on Comcast's bid to control NBC Universal, imposing an array of conditions aimed at preventing Comcast from unfairly hindering competitors whle making some of its first moves to regulate the emerging online video market. Comcast will get control of NBC Universal from GE whose assets include tv and move business. Comcast will own 51% of the joint venture for $13.75 bil. Comcast will have to give up rights to its online video site Hulu which is jointly owned by NBC Universal, News Corp. and Disney.

Fin times p15 "GE to sign slew of China deals" by Ed Crooks says GE is signing a series of deal with China this week in energy, rail & aviation as it drives to improve its disappointing performance in China.

Hewlett-Packard HPQ $46.34 +0.09 0.19% 14,682,302 NYSE: No mentions found.

Home Depot HD $36.02 +0.13 0.36% 10,727,168 NYSE: No mentions found.

Intel INTC $21.0825 +0.0025 0.01% 54,940,447 NASDAQ-GS: Fin Times p19 "Intel tries to avoid McAfee EU probe" by Nikki Tait ays Intel is fighting to avoid a probe by european competition regulators into its proposed $7.7 bil acquisition of the US security software firm McAfee.

IBM $150.65 0.65 +0.43% 8,941,631 NYSE: WSJ pB4 "IBM reports strong growth" by Shara Tibken says IBM reported its strongest quarterly rev growth in a decade, an indication that firms are spending again on tech. Earnings rose 9.2% to $5.26 bil or $4.18 a share up from $4.81 bil or $3.59 a share a year earlier.

Fin Times p24 "blow for techs as concerns about Apple chief's health trigger retreat by Michael Stothard says shares in Apple lost ground after Steve Jobs announced he would take a medical leave of absence. IBM closed up 0.4% on expectations that it would post strong results after the market close.

JPMorgan JPM $44.75 -0.16 0.36% 45,896,436 NYSE: WSJ pC1 "AIG, Treasury pick 4 banks as co-heads in share sale" by Serena Ng says American Internat'l Group and the US Treasury picked JPMorgan, Goldman, Bank of America and Deutsche bank to lead their first large offering of AIG shares for a cut rate fee.

Johnson & Johnson JNJ $62.1 -0.45 0.72% 13,865,947 NYSE: WSJ pB3 "J&J won't give employees their full bonuses for '10" by Johnathan Rockoff says due to a difficlt year for Johnson & Johnson which recalled Tylenol and other drugs and temporarily shut down a key plant, eligible Johnson & Johnson employees won't get their full bonuses for '10.

KFT $31.05 -0.29 0.93% 11,629,509 NYSE: No mentions found.

MCD $74.68 +0.62 0.84% 11,182,696 NYSE: No mentions found.

Merck MRK $33.87 -0.36 1.05% 58,798,809 NYSE: No mentions found.

MSFT $28.66 +0.36 1.27% 53,141,931 NASDAQ-GS: No mentions found.

Pfizer PFE $18.38 +0.04 0.22% 31,232,491 NYSE: No mentions found.

Procter & Gamble PG $65.5 -0.03 0.05% 12,359,849 NYSE: No mentions found.

3M MMM $88.14 +0.04 0.05% 2,295,491 NYSE: No mentions found.

Travelers TRV $54.67 +0.04 0.07% 2,541,372 NYSE: No mentions found.

United Technologies UTX $79.57 +0.49 0.62% 3,767,288 NYSE: No mentions found.

Verizon VZ $34.36 -1.10 3.1% 41,947,103 DualListed: No mentions found.

Walmart WMT $55.14 +0.33 0.6% 10,501,050 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 1/10/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $378.5 [5]
2. Microsoft MSFT 241 [8.5]
3. GE 198 [10.5]
4. WalMart WMT 191.5 [3.5]
5. IBM 183.5 [1]
6. Procter & Gamble PG 182.5 [3]
7. Chevron CVX 182 [2]
8. Johnson & Johnson JNJ 171 [3]
9. JPMorgan Chase JPM 169.5 [4]
10. AT&T T 167.5 [6]
11. Coke KO 146 [2.5]
12. Pfizer PFE 146 [8]
13. Bank of America BAC 145 [10]
14. Intel INTC 115.5 [5.5]
15. Cisco CSCO 115.5 [5.5]
16. Merck MRK 115 [3]
17. Verizon VZ 107 [3]
18. Hewlett-Packard HPQ 98 [2]
19. McDonald's MCD 78 [1]
20. Disney DIS 74.5 [2]
21. United Technologies UTX 72.5 [1]
22. 3M MMM 62 [.5]
23. Caterpillar CAT 59.5 [.5]
24. Home Depot 56.5 [1.5]
25. Kraft KFT 54.5 [2]
26. American Express AXP 53.5 [1]
27. Boeing BA 51 [1]
28. DuPont DD 44.5 [1]
29. Travelers 24.5 [.5]
30. Alcoa AA 17 [1]

Here are the latest 8K, 10Q & 10K SEC filings as of 1/10/11:

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

AT&T T: 12/21/11 8K re: borrowing up to $8 bil
12/20/11 8K re: purchase of spectrum licenses from Walcomm
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: 12/16/11 8K re acquisition of Loyalty Partner, a marketing firm active in Germany, Poland & India
12/15/11 8K re; delinquency & write-off statistics through 10/31/10
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: 1/3/11 8K re: Agreement with Freddie Mac & Fannie Mae to repurchase $3 bil of loan to settle Countrywide dispute
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: 12/16/10 8K re: Nov. dealer statistics
12/14/10 8K re: changes to By-laws re: holding of Board meetings
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 12/17/10 8K re: pre-arranged exec stock trading plan
11/23/10 10Q for quarter ending 10/30/10

Coke KO 12/15/10 8K re: expiration of tender offer for notes
12/15 & 12/9/10 8Ks re: election of Howard G. Buffett to Board of Directors & Public Issue & Diversity Relations Committees
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 12/14/10 8K re: issuance of $5 bil of Noes
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: 12/16/10 8K re: departure of Director Sir William M. Castell
11/3/10 10Q re 9/30/10 results

Hewlett-Packard HPQ: 12/15/10 10K
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 Apotheker 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: 1/4/11 8K re: amendment of By-laws to decrease directors to 12
12/8/10 8K re: underwriting agreement re: debt
12/6/10 8K re: resignation of Cathleen Black from Board of Directors
10/26/10 10Q for period ending 9/30/10

JPMorganChase JPM: 12/13/10 8K re: termination of Replacement capital Covenants
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: 12/28/10 8K re: expiration & results of tender offer for notes
12/22/10 8K re: adoption of long term exec comp. program
212/13/10 28Ks re: status of tender offerfor notes
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: 12/20/10 8K re: departure and settlement re: Denis Hennequin as Pres. of MCD Europe
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% notes due '16
11/30/10 8K re: election of Kenneth C. Frazier a CEO with Richard T. Clark staying 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: 12/17/10 8K re: proposed settlement of shareholder derivative lawsuit in US Dist. Ct. SDNY
12/16/10 8K re: election of George A. Lorch as non-Exec Chair
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: 12/14/10 8K re: election of Susan Desmond-Hellmann, 53, Chancellor of U of Cal. SF to Board
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: 12/29/10 8K re: updated fin'l info re: divestiture of properties as a result of acquisition of Alltel Corp. in Jan '09
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