Wednesday, April 13, 2011

4/13/11 Wed am JPMorgan's Earnings Today; BoA's on Fri.; Cisco Drops Flip

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Post No. 965 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 components' SEC filings as of March 21, 2011.

A read of Wednesday's Wall Street Journal, Financial Times, New York Times, Investor's Business Daily, USA Today, Atlanta Journal Constitution & Daily Report (Ga - carries Bloomberg) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Tuesday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Tuesday at 12,263.58 down 117.53 points or 0.95% from Monday's close of 12,381.11. For the year the Dow is up 5.93%. Of the 30 Dow components 7 gained and 23 declined. The biggest gainer dollar-wise were Procter & Gamble PG $62.9 +0.71 1.14% 10,562,997 NYSE and Walmart WMT $53.53 +0.71 1.34% 12,377,920 NYSE and percentage-wise was Walmart NYSE. The biggest decliner dollar-wise and percentage-wise was Chevron CVX $104.36 -3.42 3.17% 11,678,974 NYSE.

WSJ pC5 "Oil fall dings Exxon: Primerica slips 2.4%" by Jonathan Cheng says investors retreated from stocks, oil & other risky assets as a worsening nuclear situation in Japan & a weak start to the US corp earnings season cast doubt over the global recovery. Energy stocks led the selling as crude oil fell to $106.25 a barrel. Exxon dropped $1.98, while Chevron slid $3.60. Alcoa's shares slumped $1.07 to lead the Dow losers after it reported earnings that topped expectations but rev fell short of forecasts. It is charted under Bad News. Walmart is charted under Good News saying a bonus of higher gas prices as customers do a "stock-up trip" to build up supplies.

Fin Times p24 "Earnings season kicks off to a weak start as Alcoa disappoints" by Michael Stothard says Alcoa tumbled after reporting slower than expected rev growth, while the broader markets were dragged into the red by energy & material stocks as commodity prices slid. As oil prices dropped, the S&P energy sector tumbled 3%. Exxon dropped 2.3% while Chevron slid 3.3%.

Fin Times pA1 "Stocks extend losses; outlook worsens" by Vincent Mao says stocks fell for the 4th straight session Tues as the market's condition worsened. The action was down in mixed volume. The current outlook is an uptrend under pressure.

USA Today p4B "Disappointing news sends stocks down" by Bloomberg says stocks fell Tues sending the S&P lower for a 4th straight session, as Japan raised the security rating of its nuclear crisis to the highest level, oil plunged & Alcoa's sales missed estimates. Chevron dropped $3.60.

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 14.84 down from Tuesday's trailing P/E of 15.04 (year ago it was 17.18); the P/E estimate is 12.73 unchanged from Tuesday's P/E estimate of 12.73 (year ago it was 14.00), and the dividend yield is 2.40 up from Tuesday's dividend yield of 2.37 (last year it was 2.48). 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 1,620.38 down 15.52 from Monday's closing numerator of 1,635.90. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was $54.01 down 0.52 from Monday's average closing price of $54.53. The median closing price of Monday's Dow Jones Industrial Average was $46.39 (JPM/AXP) down 0.33 from Monday's median closing price of $46.62. The lowest volume was Travelers TRV $59.72 -0.70 1.16% 2,682,130 NYSE and the highest volume was again Bank of America BAC $13.479 -0.011 0.08% 94,805,467 NYSE.

If Tuesday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,552 ($163,588 - $162,036).

MarketWatch Tuesday 4/12/1 4:17 by Laura Mandauro says U.S. cratered Tuesday, dragged lower by a 3% drop in energy stocks, as a disappointing sales report from Alcoa, Inc. and a contraction in trade activity dimmed prospects for the U.S. economic recovery. The Dow Jones Industrial Average (DJIA 12,264, -117.53, -0.95%) fell 117.53 points, or 1%, to 12,263.58, led by a 6% drop in the shares of Alcoa Inc. (AA 16.71, +0.01, +0.06%) . Chevron Corp. (CVX 104.27, +0.09, +0.09%) fell 3.3% as oil prices also tumbled 3.3%, the biggest one-day drop in a month. The S&P 500 (SPX 1,314, -10.30, -0.78%) lost 10.3 points, or 0.8%, to 1,314.16, with energy and materials sectors leading decliners. The Nasdaq Composite (COMP 2,745, -26.72, -0.96%) lost 26.72 points, or 1%, to 2,744.79.

Tuesday's Closing Dow Numbers:

AT&T T $30.475 -0.185 0.6% 19,604,161 NYSE: WSJ pC16 "AT&T's mobile merger benefits" by Martin Peers says AT&T claims that the synergies from buying T-Mobile USA will more than offset the $39 bil purchase price but it made similar claims when it bought BellSouth in Mar '06 for $67 bil and its isn't clear it was worth it.

Alcoa AA $16.7 -1.07 6.02% 77,740,102 NYSE: WSJ pC5 "Oil fall dings Exxon: Primerica slips 2.4%" by Jonathan Cheng says investors retreated from stocks, oil & other risky assets as a worsening nuclear situation in Japan & a weak start to the US corp earnings season cast doubt over the global recovery. Energy stocks led the selling as crude oil fell to $106.25 a barrel. Exxon dropped $1.98, while Chevron slid $3.60. Alcoa's shares slumped $1.07 to lead the Dow losers after it reported earnings that topped expectations but rev fell short of forecasts. It is charted under Bad News. Walmart is charted under Good News saying a bonus of higher gas prices as customers do a "stock-up trip" to build up supplies.

USA Today p4B "Disappointing news sends stocks down" by Bloomberg says stocks fell Tues sending the S&P lower for a 4th straight session, as Japan raised the security rating of its nuclear crisis to the highest level, oil plunged & Alcoa's sales missed estimates. Chevron dropped $3.60.

Fin Times p24 "Earnings season kicks off to a weak start as Alcoa disappoints" by Michael Stothard says Alcoa tumbled after reporting slower than expected rev growth, while the broader markets were dragged into the red by energy & material stocks as commodity prices slid. As oil prices dropped, the S&P energy sector tumbled 3%. Exxon dropped 2.3% while Chevron slid 3.3%.

American Express AXP $46.06 -0.32 0.69% 5,186,572 NYSE: WSJ pC3 "AmEx dials up mobile pay plans" by Robin Sidel says Amex is pumping money & tech into a new firm that wants consumers to pay for things with their smartphone. Amex will be the lead investor in a $19 mil financing for Payfone, a NY start up that is also backed by the vc arms of Verizon Comm & RIM.

Bank of America BAC $13.479 -0.011 0.08% 94,805,467 NYSE: WSJ pC1 "Banks lament, can we lend you a dime? by Kelly Evans, NYT pB4 "Banks gaining a foothold in the still fragile economy" by Eric Dash, says bank earnings estimates have retreated as the US economy has grown only 1.5% in 1Q, well below the expected 4% annualized Pace. JPMorgan's earnings are released today and are expected to rise to $1.17 a share from 74 cents a year earlier due to less reserves for bad loans but rev is expected to decline by about 10% from a year earlier to $25.5 bil. Bank of America's earning are out on Fri and they are expected to decline.

Boeing BA $73.09 -0.67 0.91% 3,042,726 NYSE: No mentions found.

Caterpillar CAT $106.63 -2.44 2.24% 8,190,791 NYSE: No mentions found.

Chevron CVX $104.36 -3.42 3.17% 11,678,974 NYSE: WSJ pC5 "Oil fall dings Exxon: Primerica slips 2.4%" by Jonathan Cheng says investors retreated from stocks, oil & other risky assets as a worsening nuclear situation in Japan & a weak start to the US corp earnings season cast doubt over the global recovery. Energy stocks led the selling as crude oil fell to $106.25 a barrel. Exxon dropped $1.98, while Chevron slid $3.60. Alcoa's shares slumped $1.07 to lead the Dow losers after it reported earnings that topped expectations but rev fell short of forecasts. It is charted under Bad News. Walmart is charted under Good News saying a bonus of higher gas prices as customers do a "stock-up trip" to build up supplies.

Fin Times p24 "Earnings season kicks off to a weak start as Alcoa disappoints" by Michael Stothard says Alcoa tumbled after reporting slower than expected rev growth, while the broader markets were dragged into the red by energy & material stocks as commodity prices slid. As oil prices dropped, the S&P energy sector tumbled 3%. Exxon dropped 2.3% while Chevron slid 3.3%.

USA Today p4B "Disappointing news sends stocks down" by Bloomberg says stocks fell Tues sending the S&P lower for a 4th straight session, as Japan raised the security rating of its nuclear crisis to the highest level, oil plunged & Alcoa's sales missed estimates. Chevron dropped $3.60.

Cisco CSCO $17.44 -0.03 0.17% 65,103,233 NASDAQ-GS: WSJ pB3 "Cisco flips consumer strategy" by Roger Cheng, Fin Times p16 "Cisco set to close Flip" by Richard Waters, NYT pB1 "For Flip video camera, 4 years from hot start-up to obsolete" by Sam Grobart, NT pB2 "Redirecting Cisco by cutting sprawl" by Robert Cyran, Inv. Bus. Daily pA2 & A5 "Cisco flips, to discontinue Flip", USA Today p2B "Cisco to close Flip video camera business" by Jon Swartz say Cisco will drop its Flip camera biz as part of a broader retrenchment that suggests its campaign to build a consumer brand has failed. It is expected to trim 550 jobs & trigger a $300 mil quarterly charge.

Coke KO $66.94 -0.46 0.68% 6,695,430 NYSE: Daily Report p6 "Five stocks top the rest in my elite 30-30 club" by John Dorfman says 30-30 is for ballplayers who hit 30 home runs & steal 30 bases in the same season. He says Coke is a firm with a rare combination of profitability and growth. It is the only Dow firm on his list.

Disney DIS $41.66 -0.23 0.55% 7,748,192 NYSE: No mentions found.

DuPont DD $53.83 -1.02 1.86% 4,716,444 NYSE: No mentions found.

Exxon XOM $83.28 -1.88 2.21% 17,743,424 NYSE: WSJ pC5 "Oil fall dings Exxon: Primerica slips 2.4%" by Jonathan Cheng says investors retreated from stocks, oil & other risky assets as a worsening nuclear situation in Japan & a weak start to the US corp earnings season cast doubt over the global recovery. Energy stocks led the selling as crude oil fell to $106.25 a barrel. Exxon dropped $1.98, while Chevron slid $3.60. Alcoa's shares slumped $1.07 to lead the Dow losers after it reported earnings that topped expectations but rev fell short of forecasts. It is charted under Bad News. Walmart is charted under Good News saying a bonus of higher gas prices as customers do a "stock-up trip" to build up supplies.

Fin Times p24 "Earnings season kicks off to a weak start as Alcoa disappoints" by Michael Stothard says Alcoa tumbled after reporting slower than expected rev growth, while the broader markets were dragged into the red by energy & material stocks as commodity prices slid. As oil prices dropped, the S&P energy sector tumbled 3%. Exxon dropped 2.3% while Chevron slid 3.3%.

GE $20.02 -0.16 0.79% 44,675,133 NYSE: No mentions found.

Hewlett-Packard HPQ $41.06 +0.01 0.02% 12,171,543 NYSE: No mentions found.

Home Depot HD $37.77 +0.17 0.45% 7,823,290 NYSE: No mentions found.

Intel INTC $19.76 -0.36 1.79% 51,617,546 NASDAQ-GS: WSJ pB6 "Intel, Tencent to form tablet center in China" by Loretta Chao, Fin times p14 "Intel & Tencentin tablet PC research tie-up" by Kathrin Hille, Inv. Bus. Daily pA4 "Intel's latest stab at mobile market targets tablets" by Pat Seitz say Intel will do a joint research center with Tencent to develop tech & services for tablet computers & other mobile devices for the Chinese market.

IBM $163.35 -0.60 0.37% 3,406,793 NYSE: No mentions found.

JPMorgan JPM $46.72 -0.14 0.3% 25,244,630 NYSE: WSJ pC1 "Banks lament, can we lend you a dime? by Kelly Evans, WSJ pB4 "Strong sales boost quarter's profits" by Paul Viigna say bank earnings estimates have retreated as the US economy has grown only 1.5% in 1Q, well below the expected 4% annualized Pace. JPMorgan's earnings are released today and are expected to rise to $1.17 a share from 74 cents a year earlier due to less reserves for bad loans but rev is expected to decline by about 10% from a year earlier to $25.5 bil. Bank of America's earning are out on Fri and they are expected to decline. M&A increase will help bank earnings.

In. Bus. Daily pA2 "JPMorgan to expand in Asia" says it will hire 500 people & generate 20% of its global wholesale banking rev from Asia next year up from 15%.

JNJ $59.95 +0.09 0.15% 8,252,282 NYSE: No mentions found.

KFT $32.12 +0.09 0.28% 8,911,901 NYSE: No mentions found.

MCD $76.69 +0.44 0.58% 4,228,726 NYSE: No mentions found.

Merck MRK $33.57 -0.02 0.06% 12,689,317 NYSE: No mentions found.

MSFT $25.64 -0.34 1.31% 36,453,194 NASDAQ-GS: No mentions found.

Pfizer PFE $20.48 -0.19 0.92% 37,737,748 NYSE: WSJ pB4 "2 drugs for cancer get boost" by Jennifer Dooren says a FDA avisory panel backed 2 cancer drugs from Pfizer & Novartis to treat a type of neuroendocrine tumor. The drugs are Sutent from Pfizer and Afinitor from Novartis.

Procter & Gamble PG $62.9 +0.71 1.14% 10,562,997 NYSE: No mentions found.

3M MMM $92.37 -1.43 1.52% 3,557,789 NYSE: No mentions found.

Travelers TRV $59.72 -0.70 1.16% 2,682,130 NYSE: No mentions found.

United Technologies UTX $83.96 -1.02 1.2% 2,954,273 NYSE: No mentions found.

Verizon VZ $37.64 -0.21 0.55% 8,897,586 DualListed: WSJ pC3 "AmEx dials up mobile pay plans" by Robin Sidel says Amex is pumping money & tech into a new firm that wants consumers to pay for things with their smartphone. Amex will be the lead investor in a $19 mil financing for Payfone, a NY start up that is also backed by the vc arms of Verizon Comm & RIM.

Walmart WMT $53.53 +0.71 1.34% 12,377,920 NYSE: WSJ pC5 "Oil fall dings Exxon: Primerica slips 2.4%" by Jonathan Cheng says investors retreated from stocks, oil & other risky assets as a worsening nuclear situation in Japan & a weak start to the US corp earnings season cast doubt over the global recovery. Energy stocks led the selling as crude oil fell to $106.25 a barrel. Exxon dropped $1.98, while Chevron slid $3.60. Alcoa's shares slumped $1.07 to lead the Dow losers after it reported earnings that topped expectations but rev fell short of forecasts. It is charted under Bad News. Walmart is charted under Good News saying a bonus of higher gas prices as customers do a "stock-up trip" to build up supplies.

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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Chicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ 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 (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 as of 3/21/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $401 [5]
2. Procter & Gamble PG 243 [4]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 207 [2]
5. GE 204 [10.5]
6. IBM 190 [1]
7. WalMart WMT 184 [3.5]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 165 [6]
10. Pfizer PFE 161 [8]
11. Johnson & Johnson JNJ 160 [3]
12. Coke KO 144 [2.5]
13. Bank of America BAC 142 [10]
14. Intel INTC 111 [5.5]
15. Verizon VZ 101 [3]
16. Merck MRK 98 [3]
17. Cisco CSCO 95 [5.5]
18. Hewlett-Packard HPQ 89 [2]
19. Disney DIS 78 [2]
20. McDonald's MCD 76 [1]
21. United Technologies UTX 74 [1]
22. Caterpillar CAT 67 [.5]
23. 3M MMM 63 [.5]
24. Home Depot HD 59 [1.5]
25. Kraft KFT 54 [2]
26. American Express AXP 53 [1]
27. Boeing BA 51 [1]
28. DuPont DD 49 [1]
29. Travelers TRV 25 [.5]
30. Alcoa AA 17 [1]

Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 3/21/11:

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

AT&T T: 3/10/11 Proxy Statement re: Annual Meeting of Stockholders to be held on 4/29/11 in Little Rock, Ark
3/7/11 8K re; departure of Richard G. Lindner as CFO to be replaced by John T. Stephens
3/1/11 10K re: Fiscal year ended 12/31/10

Alcoa AA: 3/7/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/6/11 in Pittsburg, PA
2/17/11 10K re: Fiscal year ended 12/31/10
2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan

American Express AXP: 3/18/11 8K re: Reg. FD disclosures re: its Comprehensive Capital Plan re: share repurchases & dividends
3/15/11 8K re: delinquency & write-off statistics for 3 months ended 2/28/11
3/4/11 Prelim Proxy Statement re: Shareholder Meeting to be held 5/2/11 in NYC
2/2811 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: delinquency & write0off statistics for 3 months ended 1/31/11
1/18/11 8K re: comp to CEO Chanault

Bank of Am BAC: 3/17/11 8K re: issuance of $1.5 bil of 3.625% of Senior Notes due 2016
3/16/11 8K re: election of Mukesh D. Ambani to Board of Directors & Compensation & Benefit Committee & Audit Committee
1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results

Boeing BA: 3/18/11 Proxy Statement re: Annual Meeting of Shareholders to be held 5/2/11 in Chicago
2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama

Caterpiller CAT: 3/8/11 8K re: price changes of products
3/18/11 8K re: Reg FD disclosures re: 3 months dealer statistics
2/22/11 10K re: Fiscal year ended 12/31/10
2/18/11 8K re: dealer statistics for January

Chevron CVX:
2/24/11 10K re: Fiscal year ended 12/31/10
2/1/11 8K re: compensation to officers including CEO John Watson

Cisco CSCO 3/18/11 8K re: initiation of quarterly cash dividends of 6 cents per share to be paid 4/20
3/16 & 3/15 8Ks re: issuance of debt securities
3/9/11 8K re: recasting of fin'l stmts due to combining Asia Pacific & Japan operations
2/23/11 8K re: election of Gary B. Moore as COO
2/23/11 10Q re: Quarter ended 1/29/11

Coke KO 3/10/11 Proxy Statement re: Annual Meeting of Shareholders to be held 4/27/11 in Atlanta
2/28/11 10K re: Fiscal year ended 12/31/10
2/17/11 8K re: election of Evan G. Greenberg to Board of Directors & Audit Comm.
2/17/11 8K re: Amendment of Stock Option Plan

Disney DIS 3/18/11 two 8Ks re: amendment to employment Agreement of CEO Robert A. Iger & other execs.
3/2/11 Proxy Materials re: shareholder proposal re: exec compensation
2/25/11 8K re: $2.25 bil 4 year Credit Agreement
2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual shareholder meeting to be held 3/23/11 at Salt Lake City, Utah

DuPont DD: 3/18/11 Proxy re: Annual Stockholders Meeting to be held on 4/27/11 in Wilmington, DE
3/8/11 8K re: retirement of Samuel W. Bodman & John T. Dillon from Board of Directors due to reaching age 72
2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP

ExxonMobil XOM: 3/15/11 8K re: results of operations presentation at analyst meeting
2/28 10K/A & 2/25 10K re: Fiscal year ended 12/31/10
2/15/11 8K re: FD Disclosure re: worldwide proved oil and gas reserve

GE: 3/14/11 Proxy re: Annual Shareholders Meeting on 4/27/11 in Salt Lake City, Utah
2/25/11 10K re: Fiscal year ended 12/31/10
2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal

Hewlett-Packard HPQ: 3/11/11 Proxy Materials re: opposition to ISS voting recommendations re: exec comp.
3/11/11 & *k 2/22/11 re: Quarter ended 1/31/11
2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors

Home Depot HD: 3/2/11 8K re: approval of Stock Option Plan
2/22/11 8K re: fin'l results of fiscal year & quarter ended 1/30/11
1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada

Intel INTC: 2/28/11 8K re: completion of acquisition of McAfee
2/28/11 10K re: Fiscal year ended 12/25/10

IBM: 3/18/11 8K re: settlement with SEC of bribery charges in Asia for $10 mil
3/8/11 8K re: FD disclosure re: presentation at investor briefing
3/7/11 Proxy rel Annual Stockholders Meeting on 4/26 in St. Louis, Mo.
2/22/11 10K re: Fiscal year ended 12/31/10

JPMorganChase JPM: 2/28/11 10K re: fiscal year ended 12/31/10
2/24/11 8K re: clsoing of public offering of $3 bil of 3.45% Notes due 2016

Johnson & Johnson JNJ : 3/16/11 Proxy re: Annual Shareholders Meeting on 4/28 in New Brunswick, NJ
3/10/11 8K re: Entering into a consent decree with the FDA regarding its oversight of JNJ's McNeil Unit plants in Puerto Rico and Pennslyvania
2/25/11 10 K e: fiscal year ended 1/2/11

Kraft KFT: 3/14/11 8K re: departure of CFO timothy R. McLevish to be replaced by David A. Brearton
2/28/11 10K re: Fiscal year ended 12/31/10
2/22/11 8K re: FD disclosure re: presentation at Consumer Analyst Group of NY

McDonalds MCD: 3/9/11 8K re: FD disclosure re: comparable sales rising 3.9% in Feb.
3/3/11 Proxy re: Annual Meeting of Shareholders on 5/19/11 at Oak Brook, Ill.
2/25/11 10K re: fiscal year ended 12/31/10
2/8/11 8K re: Jan 2011 global sales

Merck MRK: 2/28/11 10K re: Fiscal year ended 12/31/10

Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10

Pfizer PFE: 2/28/11 10K re: fiscal year ended 12/31/10

Procter & Gamble PG: 3/1/11 8K re: resignation of Rajat KJ. Gupta from Board of Directors
2/11/11 8K re: election of Meg Whitman to Board of Directors

3M MMM: 3/15/11 8K re: retirement of CFO Patrick D. Cambell to be replaced by David W. Meline
2/16/11 10K re: Fiscal year ended 12/31/10
2/16/11 & 2/15/11 four 8Ks re: adoption by four executives of pre-arranged trading programs

Travelers TRV: 2/17/11 10K re: Fiscal year ended 12/31/10
1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q

United Technologies UTX: 2/25/11 Proxy re: Annual Meeting of Shareholders on 4/13/11 in Phoenix, AZ
2/10/11 10K for FY 12/31/10

Verizon Communications Inc. VZ: 3/7/11 8K re: election of Lowell C. McAdam to Board of Director (he is Pres/COO)
2/28/11 10K re: fiscal year ended 12/31/10
2/3/11 8K re: increase to stock repurchase program

WalMart WMT: 2/22/11 8K re: revising fin'l info for prior operating results