4/14/11 Thurs.am JPMorgan Profit Rises to $5.6 Bil: P&G & Unilever Fined for Price-Fix

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Post No. 967 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 Thursday'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 Wednesday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 12,270.99 up 7.41 points or 0.06% from Tuesday's close of 12,263.58. Year to date the Dow is up 7.41%. Of the 30 Dow components 16 gained, Pfizer was unchanged and 13 declined. The biggest gainer dollar-wise and percentage-wise was Caterpillar CAT $107.63 +1.06 0.99% 5,817,902 NYSE. The biggest decliner dollar-wise was Boeing BA $72.13 -0.95 1.3% 5,045,448 NYSE and percentage-wise was Bank of America BAC $13.27 -0.20 1.48% 120,242,960 NYSE.

WSJ pC5 "Stocks eke out gain, but BofA slides 1.5%" by Brendan Conway says stock indexes drifted slightly higher as investors parsed Obama's plan to cut the deficit & remained wary about the earnings power of major banks. Fin'l stocks were the biggest drag as JPMorgan reported a 67% jump in profit but there were concerns about regulators' move to sanction the mortgage industry. JPMorgan fell 39 cents and Bank of America fell 20 cents. JPMorgan is charted under Bad News saying earnings weren't impressive enough to push shares into the black.

Fin Times p26 "S&P 500 sputters despite profit cheer from JPM" by Michael Stothard says healthy quarterly earnings from JPM lifted sentiment on Wall St, but this failed to drag the markets very far out of the doldrums the broader indices closed only fractionally higher.

NYT pB9 "Wall St ends flat, after a lift from JPMorgan" by Chris Hauser says indexes edged up on Wed after JPMorgan posted results that topped expectations & the gov reported that retail sales rose for a 9th month. JPM said its 1q profit was up 67% despite problems continuing in its mortgage ending biz. JPM fell 39 cents while Bank of Amer lost 20 cents.

INv. Bus. Daily pA1 "Top stocks outperform as indexes rise hesitantly" by Paul Whitfield says top rated stocks advanced broadly Wed as the indexes scored narrower gains. The action was up in lower volume and the current outlook is still an uptrend under pressure.

USA Today p4B "Stocks reverse losses to close with gains" by Bloomberg says US stocks rose Wed as a Fed Res. report fueled optimism the economy can weather Obama's plan to cut spending & raise taxes. JPMorgan fell 39 cents as it reported better than expected profit for 1Q but said its outstanding loan balance shrunk a 4th straight quarter.

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 14.77 down from Wednesday's trailing P/E of 14.84 (year ago it was 17.34); the P/E estimate is 12.73 unchanged from Wednesday's P/E estimate of 12.73 (year ago it was 14.00), and the dividend yield is 2.40 unchanged from Wednesday's dividend yield of 2.37 (last year it was 2.45). 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 1,621.36 up 0.98 from Tuesday's closing numerator of 1,620.38. 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 Wednesday's Dow Jones Industrial Average was $54.05 up 0.04 from Tuesday's average closing price of $54.01. The median closing price of Wednesday's Dow Jones Industrial Average was $46.13 (JPM/AXP) down 0.49 from Tuesday's median closing price of $46.62. The lowest volume was Travelers TRV $59.93 +0.24 0.4% 2,349,714 NYSE and the highest volume was again Bank of America BAC $13.27 -0.20 1.48% 120,242,960 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 $98 ($162,134 - $162,036).

MarketWatch Wednesday 4/13/1 4:16 by Laura Mandaro says U.S. stocks ended a choppy session with modest gains Wednesday. Tech was a bright spot while financials lagged. The Dow Jones Industrial Average (DJIA 12,270.84, +7.26, +0.06%) ended up 7.41 points, or 0.1%, at 12,270.99. Caterpillar Inc. (CAT 107.57, -0.06, -0.06%) shares were the biggest advancers, rising 1%. J.P. Morgan Chase (JPM 46.22, -0.03, -0.07%) shares lost 0.8% as enthusiasm for the bank's strong profit growth waned after executives spoke on a conference call. The S&P 500 (SPX 1,314.41, +0.25, +0.02%) rose 0.25 point, or 0.02%, to 1,314.41. The Nasdaq Composite (COMP 2,761.52, +16.73, +0.61%) gained 16.74 points, or 0.6%, to 2,761.52. Stocks spent much of the day tracking crude-oil futures, which ended higher above $107 a barrel.

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

AT&T T $30.18 -0.29 0.95% 21,092,071 NYSE: WSJ pB3 "Nokia, Siemens consider JV stake sale" by Shayndi Raice says Nokia and Siemens are grappling with the future of their losing telecom equipment venture. its one major US carrier customer is T-Mobile USA but that deal could be at risk as AT&T buys it.

Alcoa AA $16.55 -0.15 0.9% 39,951,435 NYSE: No mentions found.

American Express AXP $46.1 +0.08 0.17% 5,441,329 NYSE: No mentions found.

Bank of America BAC $13.27 -0.20 1.48% 120,242,960 NYSE: NYT pB9 "Wall St ends flat, after a lift from JPMorgan" by Chris Hauser says indexes edged up on Wed after JPMorgan posted results that topped expectations & the gov reported that retail sales rose for a 9th month. JPM said its 1q profit was up 67% despite problems continuing in its mortgage ending biz. JPM fell 39 cents while Bank of Amer lost 20 cents.

WSJ pC3 "Big banks get foreclosure orders" by Victoria McGrane says US regulator hit the US 4 largest banks including Bank of America and JPMorgan with orders that banks have 60 days to establish plans to clean up their mortgage servicing processes to prevent documentation errors.

WSJ pC5 "Stocks eke out gain, but BofA slides 1.5%" by Brendan Conway says stock indexes drifted slightly higher as investors parsed Obama's plan to cut the deficit & remained wary about the earnings power of major banks. Fin'l stocks were the biggest drag as JPMorgan reported a 67% jump in profit but there were concerns about regulators' move to sanction the mortgage industry. JPMorgan fell 39 cents and Bank of America fell 20 cents. JPMorgan is charted under Bad News saying earnings weren't impressive enough to push shares into the black.

Boeing BA $72.13 -0.95 1.3% 5,045,448 NYSE: No mentions found.

Caterpillar CAT $107.63 +1.06 0.99% 5,817,902 NYSE: No mentions found.

Chevron CVX $103.81 -0.37 0.36% 7,191,695 NYSE: No mentions found.

Cisco CSCO $17.25 -0.19 1.09% 59,662,099 NASDAQ-GS: No mentions found.

Coke KO $67.28 +0.38 0.57% 4,170,217 NYSE: No mentions found.

Disney DIS $41.7 +0.07 0.17% 5,895,558 NYSE: Inv. Bus. Daily pA4 "Time Warner cable vs Viacom may spell plot for iPad content" by Reinhardt Krause says pay tv providers, cable, satellite & phone firms, ponied up $24.8 bil in programming rights in '10 to content owners such as Viacom, Time Warner, News Corp, Disney and Discovery.

DuPont DD $53.82 +0.07 0.13% 4,194,296 NYSE: No mentions found.

Exxon XOM $83.16 -0.02 0.02% 14,392,907 NYSE: AJC pA18 "Exxon Mobil CEO gets bit less in comp" says CEO Rex Tillerson got only $21.5 mil in '10, 1% lower than the prior year.

GE $19.94 -0.07 0.35% 38,024,339 NYSE: No mentions found.

Hewlett-Packard HPQ $41.13 +0.05 0.12% 12,576,337 NYSE: WSJ pB5 "Demand for PCs falters" by Ian Sherr says global shipments of PCs declined for the first time since the end of the recession as consumers move to tablets and biz spending is muted. Hewlett-Packard remains the world's top computer maker but it shipped fewer PCs in 1Q. Dell is 2nd with Acer third.

Home Depot HD $37.67 -0.09 0.24% 10,336,081 NYSE: No mentions found.

Intel INTC $19.78 +0.02 0.1% 38,084,519 NASDAQ-GS: No mentions found.

IBM $163.95 +0.70 0.43% 4,122,833 NYSE: No mentions found.

JPMorgan JPM $46.25 -0.39 0.84% 54,981,186 NYSE: Fin Times p15 "JPMorgan beats forecasts with 67% rise in net income" by Justin Baer, WSJ pC3 "Lower loan losses drive JPMorgan profit" by Dan Fitzpatrick, WSJ pC12 "JPMorgan chasing growth" by Rolfe Winkler, NYT pB1 "JPMorgan Profti Rises; Loans slip" by Eric Dash, Inv. Bus. Daily pA1 "JPMorgan loan drop a worry" say JPMOrgan reported a 67% increase in 1Q earnings but bad mortgages & home equity loans cost the bank $1 bil in 1Q, bringing total residential real estate losses since the fin'l crisis began to more than $20 bil. JPM had a record $5.6 Bil profit for the Qtr. JPM is still trading at only 10 times expected 2011 earnings per NYT pB2 Where's the reward?" by Agnes Crane. Rev fell 8% to $25.8 bil.

WSJ pC3 "Big banks get foreclosure orders" by Victoria McGrane says US regulator hit the US 4 largest banks including Bank of America and JPMorgan with orders that banks have 60 days to establish plans to clean up their mortgage servicing processes to prevent documentation errors.

NYT pB9 "Wall St ends flat, after a lift from JPMorgan" by Chris Hauser says indexes edged up on Wed after JPMorgan posted results that topped expectations & the gov reported that retail sales rose for a 9th month. JPM said its 1q profit was up 67% despite problems continuing in its mortgage ending biz. JPM fell 39 cents while Bank of Amer lost 20 cents.

WSJ pC5 "Stocks eke out gain, but BofA slides 1.5%" by Brendan Conway says stock indexes drifted slightly higher as investors parsed Obama's plan to cut the deficit & remained wary about the earnings power of major banks. Fin'l stocks were the biggest drag as JPMorgan reported a 67% jump in profit but there were concerns about regulators' move to sanction the mortgage industry. JPMorgan fell 39 cents and Bank of America fell 20 cents. JPMorgan is charted under Bad News saying earnings weren't impressive enough to push shares into the black.

Fin Times p26 "S&P 500 sputters despite profit cheer from JPM" by Michael Stothard says healthy quarterly earnings from JPM lifted sentiment on Wall St, but this failed to drag the markets very far out of the doldrums the broader indices closed only fractionally higher.

USA Today p4B "Stocks reverse losses to close with gains" by Bloomberg says US stocks rose Wed as a Fed Res. report fueled optimism the economy can weather Obama's plan to cut spending & raise taxes. JPMorgan fell 39 cents as it reported better than expected profit for 1Q but said its outstanding loan balance shrunk a 4th straight quarter.

JNJ $59.6 -0.34 0.57% 10,342,781 NYSE: No mentions found.

Kraft KFT $32.4 +0.26 0.81% 10,524,199 NYSE: No mentions found.

McDonald's MCD $76.89 +0.23 0.3% 4,855,610 NYSE: No mentions found.

Merck MRK $33.47 -0.09 0.27% 7,789,979 NYSE: NYT pB1 "As generics near, maekrs tweak erectile drugs" by Duff Wilson says Pfizer is trying to keep low price generic competition off the shelves a year from now when Viagra's patent expires. GlaxoSmithLkine Merck have licensed American rights from Bayer for a dissolvable form of its Levitra.

MSFT $25.63 -0.01 0.04% 32,887,062 NASDAQ-GS: No mentions found.

Pfizer PFE $20.46 unch unch 29,205,354 NYSE: NYT pB1 "As generics near, maekrs tweak erectile drugs" by Duff Wilson says Pfizer is trying to keep low price generic competition off the shelves a year from now when Viagra's patent expires. GlaxoSmithLkine Merck have licensed American rights from Bayer for a dissolvable form of its Levitra.

Procter & Gamble PG $62.99 +0.10 0.16% 10,383,780 NYSE: Fin Times p18 "P&G and Unilever fined for price-fix" by Nikki Tait, WSJ pB1 "EU fines Unilever, P&G over pricing" by Paul Sonne, Laurence Norman say Procter & Gamble & Unilever were fined $455 mil for fixing prices of laundry powder detergents in Europe, together with Germany's Henkel, for more than 3 years. European antitrust regulators said the cartel which developed out of a valid environmental initiative int he industry, oepated between '02 and March '5. P&G was fined 211.2 Euros and Unilever 104 mil Euros.

3M MMM $92.86 +0.49 0.53% 2,833,650 NYSE: No mentions found.

Travelers TRV $59.93 +0.24 0.4% 2,349,714 NYSE: No mentions found.

United Tech UTX $84.21 +0.23 0.27% 3,736,188 NYSE: No mentions found.

Verizon VZ $37.69 0.05 0.13% 8,512,920 DualListed: No mentions found.

Walmart WMT $53.63 +0.11 0.21% 8,590,342 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. (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