Thursday, December 1, 2011

12/1/11 Thurs. am Boeing Settles with Union; Disney Boosts Dividend by 50%

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Post No. 1,348 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, and a ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings in each case as of November 1, 2011.

A read of the print editions of Thursday's Wall St. Journal, Financial Times, Investor's Business Daily, New York Times, 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 AverageThe Dow Jones Industrial Average closed Wednesday at 12,045.88 up 490.05 or 4.24% from Tuesday's close of 11,555.63. For the year the Dow is up 4.04%. Of the 30 Dow components all 30 gained. The biggest gainer dollar-wise was Caterpillar CAT $97.88 +7.34 8.11% 13,072,388 NYSE and percentage-wise was JPMorgan JPM $30.97 +2.41 8.44% 61,407,077 NYSE.

WSJ pC1 "Investors go on the risk offensive" by Tom Lauricella says global efforts by central banks to ease stresses on the world's banks drove fin'l markets sharply higher & sent US stocks to their biggest gain since they emerged from the fin'l crisis. The rally touched virtually every corner of the fin'l markets from stocks to commodities to the euro, in a sign that at least for a day investors were prepared to abandon their recent defensive stance & bet on a resolution of the many problems plaguing developed economies. The Dow had its biggest day of gains since 3/23/09.

Fin Times p30 "Metals & mining to the fore in S&P 500's best day since summer" by Ajay Makan says the S&P had is best day since Aug as US investors applauded coordinated central bank action to inject dollar liquidity itno the global economy.

NYT pB1 "Stocks soar on Central Banks' move skeptics doubt a lasting rally" by Christine Hauser says a move announced by central bankers on Wed to contain the European debt crisis resulted in euphoria in global stock markets, but it also prompted skeptics to wonder if this time will be different.

Inv. Bus. Daily pA1 "Stocks soar but few leaders hit highs" by David Saito-Chung says bulls gored the bears Wed as stocks rallied with gusto to close a nerve filled Nov. But the market still showed a relative scarcity of powerful breakouts & limited progress by leading stocks. If there ever was such a thing as a news driven market, Wed's session fit the bill as good US factory & jobs data, a tag team effort by major central banks to expand liquidity to cash thirsty banks, a surprise loosening of bank res requirements in China, & efforts to exapnd bailout funds in Europe spurred widespread buying.

USA Today p4B "Markets go up, up and away as banks fuel burst of buying" by Bloomberg says US stocks surged Wed driving the Dow up the most since Mar '09 after 6 central banks took action on Europe's debt crisis by making it cheaper for lenders to borrow in dollars. Fin'l shares rallied 6.6%, the biggest gains in the S&P among 10 groups. JPMorgan rose $2.41 & Bank of America advanced 37 cents. Caterpillar increased $7.34.

As of the open of the market Thursday, the current divisor for the Dow Jones Industrial Average found at page C5 of Thursday's Wall St. Journal is 0.132129493. Thursday's trailing P/E ratio is 13.03 up from Wednesday's trailing P/E ratio of 12.50 (year ago it was 14.35); Thursday's P/E estimate is 11.55 unchanged from Wednesday's P/E estimate of 11.55 (year ago it was 12.95), and today's dividend yield is 2.61 down from Wednesday's dividend yield of 2.72 (last year it was 2.54). 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 1,591.61 up 64.77 from Tuesday's closing numerator of 1,526.84. 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 $53.05 up $2.16 from Tuesday's average closing price of $50.89. The median closing price of Wednesday's Dow Jones Industrial Average was $42.73 (DD/VZ) up $3.37 from Tuesday's median closing price of $39.36. The lowest volume was United Technologies UTX $76.6 +3.62 4.96% 5,307,921 NYSE and the highest volume again was Bank of America BAC $5.44 +0.36 7.09% 436,243,405 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 $6,466 ($159,150 - $152,684).

MarketWatch Wednesday 11/30/11 6:01 pm by Kate Gibson says US stocks rallied Wednesday, with the Dow industrials chalking up their best day in more than 2 ½ years, as the Federal Reserve and five other central banks moved to help banks hit by Europe’s debt crisis. “Everybody has ‘08 and ‘09 in the back of their head, this does give you more confidence that that scenario -- I can’t say it goes away, but is at least delayed,” said David Hefty, chief executive officer at Hefty Wealth Partners in Auburn, Ind. Central banks from developed nations took coordinated action to shore up the global financial system. The central banks are sending a message that they’ve identified the problem and that they are working together, he said. Such coordination could prevent a replay of the U.S. financial system’s near meltdown in 2008-2009. “The big deal is just saying they are going to be involved. It’s not like they brought out the tank, they brought out the six shooter,” he said.
Following up on October’s 9.5% rise with a 0.8% gain for November, the Dow Jones Industrial Average surged 490.05 points, or 4.2%, to 12,045.68, its first finish above 12,000 in two weeks and biggest jump since March 23, 2009.J.P. Morgan Chase & Co. JPM -0.23% led the gains that included all 30 of the blue chip indexes components, up 8.4%.Capping its largest three-day percentage climb since March 12, 2009, the S&P 500 added 51.77 points, or 4.3%, to 1,246.96, its best day since Aug. 11 and leaving the index off 0.5% for the month.Financials surged the most among the S&P’s 10 industry groups.Marking its largest jump since Aug. 23, the Nasdaq Composite COMP +4.17% advanced 104.83 points, or 4.2%, to 2,620.34, down 2.4% from the end of October.Stock trading can reach a frenzied pace during the day, but 24-hour trading has never really taken off.For every stock that lost ground nearly seven gained on the New York Stock Exchange, where nearly 1.7 billion shares traded; composite volume neared 5.9 billion.”The markets are still fairly thinly traded, but the market volume is getting stronger, and on days when market is going up the volume has been higher,” said Hefty.The Federal Reserve and the central banks of the euro area, Canada, the U.K., Japan and Switzerland agreed to reduce the cost of offering dollar financing through swap arrangements.“Central banks moving ahead of the curve generally doesn’t happen, so it’s indicative of a troublesome environment” in Europe, said Robert Pavlik, chief market strategist at Banyan Partners.China said it would reduce the reserve requirement ratio for banks by 0.5 percentage point from Dec. 5.“The move by China to reduce the reserve requirements last night is interesting. It indicates they are getting a bit nervous,” Pavlik said.As has been the case of late, U.S. economic data took a back seat to events overseas.The ADP employment report found an increase of 206,000 jobs in November, the biggest jump since last December.“The ADP just indicates the economy is on somewhat firm ground,” Pavlik said.In its Beige Book survey released Wednesday afternoon, the Fed said the U.S. economy expanded at a moderate pace in all but one of its 12 districts. Read more on Fed’s Beige Book.The report bolstered the idea that the economy, while not in danger of lapsing into recession, is too weak to put much of a dent in the unemployment rate.“Europe is driving the market because the expectation here is continued slow growth, which is a positive, but also a given in the market,” said Hefty at Hefty Wealth Partners.

Wednesday's Closing Dow Numbers & Thursday News:

Symbol Last Sale Change % Change Share Volume Market
AT&T T $28.98 +0.92 3.28% 33,344,876 NYSE: WSJ pB1 "AT&T readies Plan B" by Amupreeta Das, AJC pA20 "FCC casts doubt on wireless merger" by Peter Svensson say AT&T & Deutsche Telekom may form a jv that would pool network assets from the two top US wireless carriers if their acquisition deal falls apart.

WSJ pB15 "AT&T, China Telecom deepen connections" by Loretta Chao, Inv. Bus Daily pA2 "AT&T and China Telecom" say AT&T & China Telecom will connect their network infrastructure in the US & China to expand services for multinat'ls.

Alcoa AA $10.02 +0.71 7.63% 37,645,890 NYSE: No mentions found.

American Express AXP $48.04 +2.49 5.47% 12,229,292 NYSE: No mentions found.

Bank of America BAC $5.44 +0.36 7.09% 436,243,405 NYSE: WSJ pC1 "Getco takes floor against the tide" by Jacob Bunge says Getco LLC will buy most of Bank of America's floor trading operation at the NYSE.

Inv. Bus. Daily pA4 "BofA, SolarCity bringing solar to military housing nationwide" by Donna Howell says Merrill Lynch and SolarCity will put solar panels on 120,000 military housing units at bases across the nation.

USA Today p4B "Markets go up, up and away as banks fuel burst of buying" by Bloomberg says US stocks surged Wed driving the Dow up the most since Mar '09 after 6 central banks took action on Europe's debt crisis by making it cheaper for lenders to borrow in dollars. Fin'l shares rallied 6.6%, the biggest gains in the S&P among 10 groups. JPMorgan rose $2.41 & Bank of America advanced 37 cents. Caterpillar increased $7.34.

Boeing BA $68.69 +3.43 5.26% 8,581,350 NYSE: WSJ pA1 "Boeing makes peace with labor" by David Kesmodel, NYT pB1 "Machinists & Boeing reach deal" by Steve Grenhouse, USA Today p1B "Boeing, union reach tentative deal", AJC pA20 "Boeing, Machinists reach deal on contract" say Boeing and leaders of its main union reached a tentative settlement that could end one of the biggest US labor disputes in recent times but leave unresolved key questions about the gov's right to determine where firms locate their plants.

Caterpillar CAT $97.88 +7.34 8.11% 13,072,388 NYSE: USA Today p4B "Markets go up, up and away as banks fuel burst of buying" by Bloomberg says US stocks surged Wed driving the Dow up the most since Mar '09 after 6 central banks took action on Europe's debt crisis by making it cheaper for lenders to borrow in dollars. Fin'l shares rallied 6.6%, the biggest gains in the S&P among 10 groups. JPMorgan rose $2.41 & Bank of America advanced 37 cents. Caterpillar increased $7.34.

Chevron CVX $102.82 +5.43 5.58% 13,364,441 NYSE: WSJ pB14 "Chevron raps Brazil's spill response" by John Lyons says Chevron suspended from drilling in Brazil and facing a criminal probe for an oil lead says local authorities are overreacting.

CSCO $18.64 +0.96 5.43% 74,536,460 NASDAQ-GS: No mentions found.

Coke KO $67.23 +1.04 1.57% 12,642,467 NYSE: WSJ pD1 "A frosty reception for Coca-Cola's white Christmas cans" by Mike Esterl says Coke is switching back to its red cans just one month after rolling out its flagship cola in a snow white can for the holidays. Some consumers complained it looked similar to Det Coke's silver cans and other said it tasted different in the white cans.

Disney DIS $35.85 +1.85 5.44% 16,527,363 NYSE: WSJ pB6 "Disney boosts dividend" by Erica Orden, AJC pA20 "Walt Disney boosts dividend by 50%" says Disney increased its annual dividend to 60 cents a share, up 50% from the prior year, following storng quarterly and annual earnings. The increase of 20 cents a share comes after several straight quarters where it used cash for share buybacks. Disney had record profit and rev for the fiscal year ended 10/1. The dividend increase will cost it $360 mil a year. It generated $7 bil in operating cash flow in fy '11.

WSJ pB6 "Second Harry Potter park planner" by Lauren Schuker says NBCUniversal is planning to add a section to its LL.A them park. Harry Potter helped draw crowed to Universal Orlando which has long lagged behind rival theme parks in he area operated by Disney.

DuPont DD $47.72 +2.64 5.86% 8,109,043 NYSE: No mentions found.

Exxon XOM $80.44 +3.51 4.56% 33,920,460 NYSE: No mentions found.

GE $15.91 +0.99 6.64% 98,600,018 NYSE: No mentions found.

Hewlett-Packard HPQ $27.95 +1.05 3.9% 36,175,803 NYSE: No mentions found.

Home Depot HD $39.22 +0.26 0.67% 19,654,041 NYSE: Daily Report p6 "Home Depot, Lowe's performance indicate housing market stability" by Bloomberg says shares of Home Depot & Lowe's are outperforming other consumer discretionary stocks as the worst of the decines in the housing market may be over.

Intel INTC $24.91 +1.33 5.64% 73,440,505 NASDAQ-GS: No mentions found.

IBM $188 +7.06 3.9% 7,824,652 NYSE: Inv. Bus. Daily pB3 "IBM, Diageo pace rally global giants" by David Saito-Chung says IBM, McDonald's & Diageo particularly stood out Wed withsolid gains. IBM which celebrates 100 years of business this year, is working on a big weekly gain.

JPMorgan JPM $30.97 +2.41 8.44% 61,407,077 NYSE: USA Today p4B "Markets go up, up and away as banks fuel burst of buying" by Bloomberg says US stocks surged Wed driving the Dow up the most since Mar '09 after 6 central banks took action on Europe's debt crisis by making it cheaper for lenders to borrow in dollars. Fin'l shares rallied 6.6%, the biggest gains in the S&P among 10 groups. JPMorgan rose $2.41 & Bank of America advanced 37 cents. Caterpillar increased $7.34.

Johnson & Johnson JNJ $64.72 +1.94 3.09% 15,015,529 NYSE: No mentions found.

Kraft KFT $36.15 +0.82 2.32% 12,585,665 NYSE: No mentions found.

McDonald's MCD $95.52 +2.06 2.2% 7,675,617 NYSE: Inv. Bus. Daily pB3 "IBM, Diageo pace rally global giants" by David Saito-Chung says IBM, McDonald's & Diageo particularly stood out Wed withsolid gains. IBM which celebrates 100 years of business this year, is working on a big weekly gain.

Merck MRK $35.75 +1.27 3.68% 18,429,788 NYSE: No mentions found.

Microsoft MSFT $25.58 +0.74 2.98% 81,320,447 NASDAQ-GS: No mentions found.

Pfizer PFE $20.07 +0.67 3.45% 72,810,827 NYSE: Inv. Bus. Daily pA4 "Lipitor's post-patent future still involves creator Pfizer" by Amy Reeves says Pfizer's Lipitor lost its patent Wed and Watson Pharmaceuticals led the charge as it said it wil launch called atorvastatin.

Procter & Gamble PG $64.57 +2.04 3.26% 15,011,615 NYSE: No mentions found.

MMM $81.04 +3.80 4.92% 8,711,738 NYSE: No mentions found.

Travelers TRV $56.25 +2.18 4.03% 6,855,315 NYSE: No mentions found.

United Technologies UTX $76.6 +3.62 4.96% 5,307,921 NYSE: No mentions found.

Verizon VZ $37.73 +1.10 3% 17,470,086 DualListed: No mentions found.

Walmart WMT $58.9 +0.73 1.25% 14,802,532 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 Meg Whitman (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Virginia M. Rometty (replaces Samuel J. Palmisano 1/1/12) (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 Lowell McAdam (NY, NY) Lowell C. McAdam
Wal-Mart WMT Mike Duke (Bentonville, ARK)

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Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 11/1/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $379.5 [5]
2. Microsoft MSFT 223 [8.5]
3. IBM 217.5 [1]
4. Chevron CVX 210.5 [2]
5. WalMart WMT 195.5 [3.5]
6. GE 177 [10.5]
7. Johnson & Johnson JNJ 176.5 [3]
8. Procter & Gamble PG 176 [3]
9. AT&T T 173.5 [6]
10. Coke KO 155 [2.5]
11. Pfizer PFE 150.5 [8]
12. JPMorgan Chase JPM 135.5 [4]
13. Intel INTC 129 [5]
14. Merck MRK 106 [3]
15. Verizon VZ 104.5 [3]
16. Cisco CSCO 102 [5.5]
17. McDonald's MCD 96 [1]
18. United Technologies UTX 70.5 [1]
19. Bank of America BAC 69 [10]
20. Disney DIS 65 [2]
21. Kraft KFT 62 [2]
22. Caterpillar CAT 61 [.5]
23. American Express AXP 60.5 [1]
24. Home Depot HD 56 [1.5]
25. 3M MMM 56 [.5]
26. Hewlett-Packard HPQ 53 [2]
27. Boeing BA 49 [1]
28. DuPont DD 44.5 [1]
29. Travelers TRV 24 [.5]
30. Alcoa AA 11.5 [1]

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

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

AT&T T: 10/27/11 8K re: redemption of 5.87% Notes due 2/1/12
10/20/11 2 8Ks re: 3Qtr results
9/8/11 8K re: redemption of certain notes
9/1/11 8K re: Dept. of Justice lawsuit to block AT&T acquisition of T-Mobile saying it will lessen competition & raise prices
8/5/11 10Q for quarter ended 6/30/11
8/2/11 8K re: sale of global notes
8/1/11 8K re: tendering of all its shares of Telefonos de Mexcio

Alcoa AA: 10/20/11 10Q for Qtr ended 9/30/11
10/14/11 8K re: transcript of 3Qtr earnings call
10/12/11 8K re: 3Qtr results

American Express AXP: 10/19/11 8K re: 3Qtr results
10/17/11 8K re: delinq & write-f stats for 3 months eded 9/30/11
9/15/11 & 9/14/11 8Ks re: delinquency & write-off stats for 3 months ended 8/3/1/11
8/15/11 8K re: delinq. & write-off stats for months of May, June, and July 2011
8/3/11 10Q for quarter ended 6/30/11

Bank of Am BAC: 10/18/11 8K re: 3Qtr results
10/7/11 8K re: separation contracts with Sallie L. Krawcheck & Joe L. Price
9/7/11 8K re: exec changes including departure of Sallie Krawcheck
9/1/11 8K re: Amend Cert of Inc to designate Pref. Shares sold to Berkshire Hathaway for $5 bil
8/29/11 8K re: selling of 13.1 bil shares of China Construct Bank
8/25/11 8K re: sale of securities to Berkshire Hathaway, Inc.

Boeing BA: 10/26/11 10Q for Qtr ended 9/30/11
10/26/11 8K re: 3Qtr results
10/4/11 8K re: election of ex-Contintel CEO Larry Kellner as Director
9/30/11 8K & 8KA re: frequency of shareholder advisory votes

Caterpiller CAT: 10/24/11 8K re: 3 month dealer stats
10/24/11 8K re: results for quarter ended 9/30/11
9/30/11 8K re: price increases
9/29/11 8K re: 3 month dealer stats
9/20/11 8KA 3 Mos dealer stats thru Aug
9/16/11 re: credit agreement
8/18/11 8K re: 3 mos. dealer stats
8/12/11 8K re: clarification of order backlog
8/4/11 10Q for quarter ended 6/30/11

Chevron CVX: 10/28/11 8K re: 3Qtr results
10/11 8K re: 3Qtr results
9/7/11 8K/A re: frequency of shareholder advisory votes
8/4/11 10Q for quarter ended 6/30/11

Cisco CSCO 10/18/11 14A proxy (two) re: Annual Shareholder Meeting to be held 12/7/11 at Santa Clara, CA
9/20/11 8K re: contract with Exec VP Wim Elfrink
9/14/11 10K for year ended 7/30/11
8/24/11 8K re: pre-arranged stock trading plan for CEO John Chambers
8/10/11 8K re: 4Qtr results

Coke KO 10/28/11 S-4 re: exchange of 3.3% Notes due '21 for 1.8% Notes due '16
10/27/11 10Q for Qtr ended 9/30/11
10/18/11 8K re: 3Qtr results
9/1/11 8K re: issuance of senior notes
8/24 & 8/8 8Ks re: issuance of securities as an off-alance sheet arrangement re: Coca-Cola Refreshments USA, Inc.
8/1/11 10Q 2 results ended 7/1/11

Disney DIS 10/25/11 8K re: resignation of Director John E. Bryson to become U.S. Secretary of Commerce
10/7/11 8K re: extension of CEO Robert A. Iger's employment contract
8/19/11 8K re: sale of $750 mil of Global Notes
8/19 10Q & 8/9 8K re: results of quarter ended 7/2/11

DuPont DD: 10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11
8/8/11 10Q for quarter ended 6/30/11

ExxonMobil XOM: 10/27/11 8K re: 3Qtr results
8/4/11 10Q for quarter ended 6/30/11

GE: 10/21/11 8K re: 3Qtr results
9/13/11 8K re: redemption of shares held by Berkshire Hathaway for $3.3 bil

Hewlett-Packard HPQ: 10/27/11 8K re: decision to keep PC unit
10/3/11 8K re: acceptance of offers to acquire Autonomy
9/29/11 8K re: separation contract with ex-CEO Leo Apotheker
9/28/11 8K re foreign antitrust approval of acquisition of Autonomy
9/22/11 8K re: replacement of CEO Leo Apotheker with Meg Whitman effective immediately
9/19/11 8KA & 8K re: issuance of flotaing global notes
9/13/11 8K re: purchase of Autonomy Corp.
9/9/11 10Q for quarter ended 7/31/11
8/19/11 8K re: offer to purchase Autonomy Corp plc
8/18/11 8K re: 3rd Quarter results ended 7/31/11

Home Depot HD: 9/1/11 10Q for quarter ended 7/31/11
8/16/11 8K re: results of quarter ended 7/31/11

Intel INTC: 10/19/11 & 10/18/11 8Ks re: Results for Qtr ended 10/1/11
9/19/11 & 9/14/11 8Ks re; offering of $5 bil of notes
8/8/11 10Q for quarter ended 7/2/11

IBM: 10/31/11 8K re: offering of $1.85 bil of debt
10/26/11 8K re: election of Virginia M. Rometty as CEO
10/25/11 8K re: election of David Farr, CEO of Emerson, to Bd.
10/25/11 10Q & 10/18/11 8K & 10/17/11 8K re: results for Qtr ended 9/30/11

JPMorganChase JPM: 10/26/11 8K re: offering of $1.75 mil of 4.35% Notes due '21
10/13/11 8K re: 3Qtr results
9/30/11 8K re: reorganiz. of Retail Fin'l Services & Card Business segments
9/13/11 8K re: FD Disclosure re: guidance given at investor conference
8/24/11 8K re: Master Agency Agreement re: Notes offering from time to time
8/10/11 8K re: closing of sale of $1.25 bil of 4.35% notes due 2021
8/5/11 8K re: 10Q for quarter ended 6/30/11
8/5/11 8K re: closing of sale of notes due 2016

Johnson & Johnson JNJ : 10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11
8/9/11 10Q for quarter ended 7/3/11

Kraft KFT: 9/7/11 8K re: FD Disclosure re: presentation at investor conference
8/5/11 10Q for quarter ended 6/30/11
8/14/11 8K re: amendment of severance agreement with ex-CFO Tim McLevish
8/4/11 8K re: Board of Dirs. intent to spin off global snack business & a N. Amer. grocery business
8/4/11 8K re: 2nd quarter results for quarter ended 6/30/11

McDonald's MCD: 10/21/11 8K re: results for 3Qtr ended 9/30/11
9/30/11 8K re: issuance of $500 mil med-term notes
9/26/11 8K re; declaration of quarterly cash dividend
9/12/11 8K re: August sales
8/19/11 8Ka re: plans to hold annual advisory vote on exec compensation
8/8/11 8K re: investors release
8/5/11 10Q for quarter ended 6/30/11

Merck MRK: 10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp
8/8/11 10Q for quarter ended 6/30/11

Microsoft MSFT: 10/20/11 10Q & 8K re: results for Qtr ended 9/30/11
10/18/11 & 10/4/11 & 10/3/11 14A Proxies re: Annual Meeting of Shareholders to be held 11/15/11 at Bellevue, Wash.

Pfizer PFE: 8/11 10Q for quarter ended 7/3/11
8/2/11 8K re: 2Q results

Procter & Gamble PG: 10/27/11 10Q & 8Ks (two) re: results of 3 Qtr ended 9/30/11
10/14/11 8K re: voting results of annual meeting of shareholders
10/11/11 *K re: quarterly dividend of 52.5 cents
10/11/11 CEO's Bob McDonald speech at annual shareholders meeting
10/6/11 8K re: political contribution policy
9/7/11 Def. 14A Proxy Material re: voting recommendations for directors
8/26/11 Def. 14A Proxy Statement for Notice of Annual Meeting of Shareholder on 10/11/11
8/15/11 8K re: closing of public offering of $1 bil 1.4% Notes due '16
8/10/11 10K for year ended 6/30/11
8/5/11 8K re: results for quarter ended 6/30/11

3M MMM: 10/25/11 8K re: results of 3Qtr
9/29/11 8K re: offer of $4 bil of notes
9/8/11 8K re: Distribution Agrmt with Goldman Sachs re: $3 bil of notes
8/30/11 8K re: $200 mil credit agreement with HSBC Bank
8/10/11 8K re: $1.5 bil 5 year revolving credit agreement with J.P.Morgan Chase
8/4/11 10Q for quarter ended 6/30/11
8/2/11 2 8Ks re: adoption of executive pre-arranged stock trading plans
8/2/11 8K re: results of 2nd quarter

Travelers TRV: 10/19/11 10Q & 8K re: results for Qtr ended 9/30/11
9/20/11 8K/A re: frequency of non-binding advisory shareholder votes
8/8/11 8K re: restatement of articles of incorporation to cancel Series B Conv. Pref. Stock

United Technologies UTX: 10/24/11 10Q & 10/19/11 8K re: results for Qtr ended 9/30/11
10/18/11 8K re: Pratt & Whitney & Rolls Royce partnership to develop next generation engines for mid-size aircraft
9/29/11 8K re: exec personnel changes
9/23/11 8K & Def. 14A Proxy Material re: acquisition of Goodrich

Verizon Communications Inc. VZ: 10/25/11 10Q & 10/21/11 8K re: results for Qtr ended 9/30/11
9/14/11 8K re: presentation to Merrill Lynch Media, Communication & Entertainment Conf.

WalMart WMT: 9/29/11 8K re: adoption of Deferred Com Plan
9/27/11 8K re: retirement of Vice-Chair Eduardo Castro-Wright
9/1/11 10Q for quarter ended 7/31/11