Sunday, December 18, 2011

12/18/11 Sun/Sat Barron's Likes McDonalds & Mircosoft

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Post No. 1,377 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 December 1, 2011.

A read of the print editions of Monday's Barron's, Investor's Daily, the combined Saturday and Sunday issues of each of The Wall St. Journal and Financial Times, and Sunday's and Saturday's New York Times and Atlanta Journal Constitution 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 Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 11,866.39 down 2.42 or 0.02% from Thursday's close of 11,868.81. For the week the Dow is down 317.87 points or 2.61% from last Friday's close of 12,184.26. For the year the is up 2.50%. Of the 30 Dow components 22 gained and 23 declined. The biggest gainer dollar-wise was Chevron CVX $100.86 +1.19 1.19% 12,444,034 NYSE and percentage-wise was Microsoft MSFT $26 +0.44 1.72% 87,077,599 NASDAQ-GS NYSE. The biggest decliner dollar-wise and percentage-wise was IBM $183.57 -3.91 2.09% 11,509,086 NYSE.

Inv. Bus. Daily pA1 "Stocks give back most of early advance" by Paul Whitfield says stocks finished low in the day's range Friday, giving up most of what had been ample gains. Volume rose sharply, But Friday was a quadruple witching session, which routinely boosts trade. The market remains in a correction, and any stock purchase remains risky. IBM was a a leader that was down in volume. Economic news was thin Friday as the Labor Dept released a mixed report on consumer prices. The data showed less inflation than expected, but the core rate had more of a pric pop than estimated. This wasn't the sort of news that fires up the Street. Some attributed the early stock gains to news that Washington would avoid a government shutdown.

Fin Times p15 "Glut in supply of panels hits solar energy groups" by Ajay Makan says a disastrous week for First Solar piled pressure on to US solar energy stocks. Elsewhere the week started with a sharp sell off as investors reassessed last Fri's eurozone deal and markets headed further south on Tues as the Fed Open Market Committee left monetary policy unchanged. The Dow slipped 2.6% but at least remained in positive territory for the year. The fin'l sector fell for the week as Fitch downgraded the ratings of of Bank of America bonds. JPMorgan was down 39%.

Sat. NYT pB7 "Commodities companies help lit markets" by Bloomberg says stock indexes weer mixed on Friday as gains among commodity producers helped overcome debt crisis concerns prompted by Fitch Ratings' warning that it might cut ratings of European nations Haliburton and Chevron paced the gains among energy firms. Chevron was up 1.2%.

As of the close of the market Friday, the current divisor for the Dow Jones Industrial Average found at page B6 of Saturday's Wall St. Journal is 0.132129493. Saturday's trailing P/E ratio is 12.84 unchanged from yesterday's trailing P/E ratio of 12.84 (year ago it was 14.65); Saturday's P/E estimate is 12.20 down from Friday's P/E estimate of 12.33 (year ago it was 13.43), and Saturday's dividend yield is 2.68 unchanged from Friday's dividend yield of 2.69 (last year it was 2.50). 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.

Friday's Dow Jones Industrial Average closing numerator was 1,567.90 down 0.32 from Thursday's closing numerator of 1,568.22. 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 Friday's Dow Jones Industrial Average was $52.26 down 0.01 from Thursday's average closing price of $52.27. The median closing price of Friday's Dow Jones Industrial Average was $42.20 (DD/HD) up $0.79 from Thursday's median closing price of $41.41. The lowest volume was 3M MMM $78.87 +0.01 0.01% 6,153,730 NYSE and the highest volume again was Bank of America BAC $5. -0.06 1.14% 222,242,907 NYSE.

If Friday 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 $32 ($156,822 - $156,790).

MarketWatch Frisday 12/16/11 4:11 pm by Kate Gibson says US stocks on Friday finished with weekly losses after a rating agency warning on Europe pulled the plug on what began as an upbeat session on a confidence vote in Italy. "Europe continues to dominate," said Michael Gibbs, director of equity strategy at Morgan Keegan. The Dow Jones Industrial Average DJIA -0.02% fell 2.42 points, or less than 0.1%, to 11,866.39, leaving it down 2.6% from last Friday's close. The S&P 500 SPX +0.32% added 3.89 points, or 0.3%, to 1,219.65. The Nasdaq Composite COMP +0.56% climbed 14.32 points, or 0.6%, to 2,555.33.

Friday's Closing Dow Numbers and Saturday's News:

Symbol Last Sale Change % Change Share Volume Market

AT&T T $28.85 +0.06 0.21% 39,008,566 NYSE: Sun AJC pD1 "AT&T still may come out ahead" by Krisi E. Swartz and Michael E. Kanell says AT&T will have to pay billions of dollars in break-up fees if it doesn't buy T-Mobile. With its massive resources and just one big rival in Verizon, Atlanta based AT&T Mobility may still emerge from the failure in a powerful position . Tehre is also the chance it may do a jv with T-Mobile that meet anti-trust worries. When the deal was announced in March Verizon had 101 million subscribers, AT&T had 96 million, sprint Nextel 50 million and T-Mobile 34 million.

American Express AXP $46.88 +0.46 0.99% 11,322,322 NYSE: No mentions found.

Alcoa AA $8.81 +0.03 0.34% 40,379,509 NYSE: No mentions found.

Bank of America BAC $5.2 -0.06 1.14% 222,242,907 NYSE: Barron's p14 "Week Review" says Fitch Ratings cut its credit ratings on Bank of America, Goldman Sachs and Citigroup due to concerns about the global economy.

Inv. Bus. Daily pA1 "BofA boosts capital cushion" says BofA, the 2nd largest US bank by assets, completed an exchange of stock and notes for preferred shares, increasing its Tier 1 common capital by $3.9 bil as it is under pressure to boost its capital to absorb mortgage related losses and meet new int'l standards.

Sat. NYT pB1 "Investors scrutinizing JPMorgan's mortgages" by Louise Story, Sat. AJC pA17 "BofA acts to boost is balance sheet" say Bank of America, the hardest hit by mortgage related lawsuit woes, may soon have company at the courthouse as lawyers representing investors that settled billions of dollars of mortgage bond claims against Bank of America last summer said on Friday that they had opened investigations into $95 bil worth of mortgages held in JPMorgan Chase securities.

Fin Times p15 "Glut in supply of panels hits solar energy groups" by Ajay Makan says a disastrous week for First Solar piled pressure on to US solar energy stocks. Elsewhere the week started with a sharp sell off as investors reassessed last Fri's eurozone deal and markets headed further south on Tues as the Fed Open Market Committee left monetary policy unchanged. The Dow slipped 2.6% but at least remained in positive territory for the year. The fin'l sector fell for the week as Fitch downgraded the ratings of of Bank of America bonds. JPMorgan was down 39%.

Boeing BA $71.01 +0.40 0.57% 8,643,403 NYSE: Inv. Bus. Daily pA4 "Interior decorator for jets flying high as airlines place orders" by Kevin Harlin says Boeing and Airbus engineers leave the cushy, reclining first class seats, LED cabin lighting, kitchens and other inside features of their planes such as the new generation 737s to BE Aerospace, the globe's top supplier of commercial aircraft interiors.

Caterpillar CAT $87.2 -0.50 0.57% 11,123,714 NYSE: No mentions found.

Chevron CVX $100.86 +1.19 1.19% 12,444,034 NYSE: Sat. NYT pB7 "Commodities companies help lit markets" by Bloomberg says stock indexes weer mixed on Friday as gains among commodity producers helped overcome debt crisis concerns prompted by Fitch Ratings' warning that it might cut ratings of European nations Haliburton and Chevron paced the gains among energy firms. Chevron was up 1.2%.

Cisco CSCO $17.94 -0.10 0.55% 80,189,182 NASDAQ-GS: No mentions found.

Coke KO $67.44 +0.55 0.82% 11,333,981 NYSE: Sun AJC pD1 "Women execs get lost in the pipeline" by Kelly Yamanouchi says Kathy Waller, vp and controller at Coke, chairs the firm's women's leadership council. Home Depot CFO Carol Tome mentors women executives.

Disney DIS $35.32 +0.13 0.37% 17,463,101 NYSE: Inv. Bus. Daily pA5 "EA aiming at Zynga; activision holds off" by Patrick Seitz says video game makers face tricky task of energizing their products as Zynga and casual online social games are becoming the hottest things in gaming resulting in traditional console video game makers looking to get a share of the fast growing market. Big players in the emerging online social games market include privately held Crowdstar and Wooga and Playdom, a unit of Disney The fast growing, lucrative social games market threatens to draw away gamers from consoles like Microsoft's Xbox 360, Sony's Playstation 3 & Nintendo's Wii.

DuPont DD $43.98 +0.28 0.64% 8,942,316 NYSE: Sat NY pB2 "Regulators in Europe investigate 2 US firms" by Reuters, Sat. AJC pA17 "EU investigaion targets Honeywell, DuPont" say European Union regulators are investigators whether agreements between Honeywell Int'l and DuPont on a new global refrigerant for car air conditioners may be anticompetitive because it prevents rivals from also developing versions of a new refrigerant..

Exxon XOM $80.16 +0.13 0.16% 27,094,575 NYSE: Barrn's p34 "CEO Spotlight Sam Palmisano" by Leslie P. Norton says CEO Palmisano will retire at the end of this year because he reached the mandatory retirement age of 60. Article says IBM has done fantastically under Palmisano the past 10 years in all respects. He also serves on the Exxon Board. Hewlett-Packard imitated IBM's move into consulting and services and last week GE made gestures in that direction.

GE $17.01 +0.22 1.31% 91,875,769 NYSE: Barrn's p34 "CEO Spotlight Sam Palmisano" by Leslie P. Norton says CEO Palmisano will retire at the end of this year because he reached the mandatory retirement age of 60. Article says IBM has done fantastically under Palmisano the past 10 years in all respects. He also serves on the Exxon Board. Hewlett-Packard imitated IBM's move into consulting and services and last week GE made gestures in that direction.

Hewlett-Packard HPQ $25.84 -0.32 1.22% 29,315,690 NYSE: Barrn's p34 "CEO Spotlight Sam Palmisano" by Leslie P. Norton says CEO Palmisano will retire at the end of this year because he reached the mandatory retirement age of 60. Article says IBM has done fantastically under Palmisano the past 10 years in all respects. He also serves on the Exxon Board. Hewlett-Packard imitated IBM's move into consulting and services and last week GE made gestures in that direction.

Home Depot HD $40.42 +1 2.54% 18,483,957 NYSE: Sat. NYT pB1 "Despite delay, the 100 watt bulb is on its way out" by Diane Cardwell says Home Depot sells a lot of light bulbs.

Intel INTC $23.23 -0.08 0.34% 82,673,574 NASDAQ-GS: No mentions found.

IBM $183.57 -3.91 2.09% 11,509,086 NYSE: Barrn's p34 "CEO Spotlight Sam Palmisano" by Leslie P. Norton says CEO Palmisano will retire at the end of this year because he reached the mandatory retirement age of 60. Article says IBM has done fantastically under Palmisano the past 10 years in all respects. He also serves on the Exxon Board. Hewlett-Packard imitated IBM's move into consulting and services and last week GE made gestures in that direction.

Inv. Bus. Daily pA1 "Stocks give back most of early advance" by Paul Whitfield says stocks finished low in the day's range Friday, giving up most of what had been ample gains. Volume rose sharply, But Friday was a quadruple witching session, which routinely boosts trade. The market remains in a correction, and any stock purchase remains risky. IBM was a a leader that was down in volume. Economic news was thin Friday as the Labor Dept released a mixed report on consumer prices. The data showed less inflation than expected, but the core rate had more of a pric pop than estimated. This wasn't the sort of news that fires up the Street. Some attributed the early stock gains to news that Washington would avoid a government shutdown.

JPMorgan JPM $31.89 +0.13 0.41% 50,106,736 NYSE: Sat. NYT pB1 "Investors scrutinizing JPMorgan's mortgages" by Louise Story, WSJ pB2 "Mortgage investors put JPMorgan in cross hairs" by David Benoit say Bank of America, the hardest hit by mortgage related lawsuit woes, may soon have company at the courthouse as lawyers representing investors that settled billions of dollars of mortgage bond claims against Bank of America last summer said on Friday that they had opened investigations into $95 bil worth of mortgages held in JPMorgan Chase securities.

Fin Times p15 "Glut in supply of panels hits solar energy groups" by Ajay Makan says a disastrous week for First Solar piled pressure on to US solar energy stocks. Elsewhere the week started with a sharp sell off as investors reassessed last Fri's eurozone deal and markets headed further south on Tues as the Fed Open Market Committee left monetary policy unchanged. The Dow slipped 2.6% but at least remained in positive territory for the year. The fin'l sector fell for the week as Fitch downgraded the ratings of of Bank of America bonds. JPMorgan was down 39%.

Johnson & Johnson JNJ $64.3 +.30 0.47% 16,748,560 NYSE: No mentions found.

Kraft KFT $36.49 +0.03 0.08% 13,145,034 NYSE: No mentions found.

McDonald's MCD $97.49 -0.65 0.66% 8,596,839 NYSE: Barron's p27 "Buckle up!" by Vito J. Racanelli says Adam Parker of Morgan Stanley recommends shares of firms with strong balance sheets, recurring rev and relatively high dividend yields and a basket of such would include McDonald's, Microsoft, Costco and Philip Morris.

Merck MRK $36.25 -0.11 0.3% 25,625,273 NYSE: No mentions found.

Microsoft MSFT $26 +0.44 1.72% 87,077,599 NASDAQ-GS: Barron's p27 "Buckle up!" by Vito J. Racanelli says Adam Parker of Morgan Stanley recommends shares of firms with strong balance sheets, recurring rev and relatively high dividend yields and a basket of such would include McDonald's, Microsoft, Costco and Philip Morris.

Pfizer PFE $21.03 -0.11 0.52% 65,953,841 NYSE: Barron's p44 "Pro-Active Pfizer" by Shriley A. Lazo says Pfizer prepared for many years the expiration of its US patent protection on Lipitor which happened on 11/30. One of them aimed at bolstering shareholders' confidence was the sweetening on Monday of its dividend for the 3rd year in a row and the enhancement of its stock-buyback authorization.

Procter & Gamble PG $65.14 +0.15 0.23% 16,373,314 NYSE: No mentions found.

3M MMM $78.87 +0.01 0.01% 6,153,730 NYSE: No mentions found.

Travelers TRV $57.28 +0.47 0.83% 7,087,108 NYSE: No mentions found.

United Technologies UTX $72.39 -1.14 1.55% 11,526,421 NYSE: No mentions found.

Verizon VZ $38.78 +0.36 0.94% 18,242,547 Dual Listed: Sun AJC pD1 "AT&T still may come out ahead" by Krisi E. Swartz and Michael E. Kanell says AT&T will have to pay billions of dollars in break-up fees if it doesn't buy T-Mobile. With its massive resources and just one big rival in Verizon, Atlanta based AT&T Mobility may still emerge from the failure in a powerful position . Tehre is also the chance it may do a jv with T-Mobile that meet anti-trust worries. When the deal was announced in March Verizon had 101 million subscribers, AT&T had 96 million, sprint Nextel 50 million and T-Mobile 34 million.

Barron's p22 "Coinstar: Still money in the bank" by Andrew Bary says there was talk recently of an alliance between Redbox and Verizon Communication as well as Verizon and Netflix but the alliance with Netflix seems to have fizzled.

Inv. Bud. Daily pA2 "Verizon boosts wireless assets", WSJ pB4 "Verizon Wireless expands with new spectrum purchase" by Anon Roianovski, Sat AJC pA17 "Cox to sell airwave licenses to Verizon" say Verizon Communications' subsidiary Verizon wireless will buy airwave licenses from Cox Communications cable company for $315 mil. Comcast, time Warner Cable & Bright House Networks recently signed marketing agreements with Verizon and earlier this month, Verizon signed a deal with leap Wireless to buy its Advance Wireless Services spectrum in the US for $188 mil.

Walmart WMT $58.27 +0.32 0.55% 13,369,206 NYSE: Sat. AJC pA18 "Walmart plans 200 jobs with new store" says Walmart will open a new store in Covington, Ga that will employ 200.

WSJ pB16 "zynga plans platform seed for Facebook" by Rolfe Winkler says Walmart recently launched a Facebook app called Shopycat that makes gift recommendations using Facebook's dats.

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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 12/1/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $302.5 [5]
2. IBM 223 [1]
3. Microsoft MSFT 212 [8.5]
4. Chevron CVX 203 [2]
5. WalMart WMT 202 [3.5]
6. Procter & Gamble PG 176.5 [3]
7. Johnson & Johnson JNJ 176 [3]
8. AT&T T 171 [6]
9. GE 168 [10.5]
10. Pfizer PFE 154 [7.5]
11. Coke KO 152 [2.5]
12. Intel INTC 131 [5]
13. JPMorgan Chase JPM 116 [4]
14. Merck MRK 109 [3]
15. Verizon VZ 107 [3]
16. Cisco CSCO 102 [5.5]
17. McDonald's MCD 98 [1]
18. United Technologies UTX 69.5 [1]
19. Disney DIS 64.5 [2]
20. Kraft KFT 64.5 [2]
21. Caterpillar CAT 62.5 [.5]
22. Home Depot HD 60.5 [1.5]
23. Bank of America BAC 56 [10]
24. 3M MMM 56 [.5]
25. Hewlett-Packard HPQ 56 [2]
26. American Express AXP 55.5 [1]
27. Boeing BA 53 [1]
28. DuPont DD 43.5 [1]
29. Travelers TRV 23 [.5]
30. Alcoa AA 10.5 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 12/1/11:

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

AT&T T: 11/28 8K re: redemption of subsidiary Cingular Wirelss' $2.97 bil debt
11/25/11 8K re: withdrawal from FCC of application to buy T-Mobile
11/7/11 10Q for qtr ended 9/30/11
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

Alcoa AA: 11/16/11 8K re: exec changes
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: 11/15/11 8K re: delinq. & write-off stats for Aug, Sept & Oct
11/4/11 8K re: exec changes
11/2/11 10Q for Qtr ended 9/30/11
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

Bank of Am BAC: 12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs
11/17/11 8K re: exchange of preferred shares
11/2/11 10Q for Qtr ended 9/30/11
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

Boeing BA: 11/14/11 8K re: $2.3 bil revolving credit agrmt.
11/1/11 8K re: exec changes
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: 11/18/11 8K re: past 3 monts dealer stats
11/4/11 10Q for Qtr ended 9/30
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

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

Cisco CSCO 11/22/11 10Q & 8K for Qtr ended 10/29
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

Coke KO 11/10/11 Prospectus re: exchange of $1.6 bil of 2016 Notes
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

Disney DIS 11/23/11 10K & 11/10/11 8K re: results for fiscal year ened 10/1/11
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

DuPont DD: 11/22/11 8K : re: election of Lee M. Thomas as Director
10/25/11 10Q & 8K re: results for 3Qtr ended 9/30/11

ExxonMobil XOM: 11/29/11 8K re: exec changes
11/3/11 10Q for Qtr ended 9/30/11
10/27/11 8K re: 3Qtr results

GE: 11/8/11 10Q for Qtr ended 9/30/11
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: 11/8/11 10Q & 11/21/11 8K re: results of year and Qtr ended 10/31/11
11/17/11 8K re: election of Ralph V. Whitworth to Board of Dirs
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

Home Depot HD: 11/29/11 10Q & 11/15/11 8K re: results of Qtr ended 10/31/11
9/1/11 10Q for quarter ended 7/31/11

Intel INTC: 11/4/11 10Q for Qtr ended 10/1/11
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

IBM: 11/14/11 8K re: $10 bil Credit Agrmt
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: 11/8/11 8K re: election of James A. Bell as Dir.
11/4 28ks & 10Q re: Qtr ended 9/30/11
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

Johnson & Johnson JNJ : 11/30/11 8K re: purchase of synthes & offer to hire its CEO
11/22/11 8K re: exec changes
11/8/11 10Q for Qtr ended 10/2
10/27/11 S-4 re: acquisition of Synthes
10/18/11 8K re: results for Qtr ended 10/2/11

Kraft KFT: 11/4/11 10Q & 11/2/11 8K re: Qtr ended 9/30/11
9/7/11 8K re: FD Disclosure re: presentation at investor conference

McDonald's MCD: 11/14/11 8K re: Investor Release re: Growth Plans
11/8/11 8K re: Oct sales
11/4/11 10Q for Qtr ended 9/30/11
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

Merck MRK: 12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board
11/10/11 8K & 11/8/11 10Q re Investor Presentation re results for Qtr ended 9/30/11
10/28/11 8K re: results for 3Qtr
10/12/11 8K/A re: frequency of shareholder advisory votes on exec comp

Microsoft MSFT: 11/17/11 8K re: votings results from Annual Shareholder Meeting
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: 11/10/11 10Q & 11/1/11 8K for Qtr ended 10/2/11

Procter & Gamble PG: 11/3/11 8K re: Guidance
11/1/11 8K re: delay of sale of Pringles to Diamond Food
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

3M MMM: 11/3/11 10Q re Qtr ended 9/30/11
11/3/11 8K re: pre-arranged stock trading plan for an exec
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

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

United Technologies UTX: 11/16/11 8K re: edemption of $500 mil of 6/1% Notes due 5/15/12
11/15/11 8K re: $15 bil Credit Agrmt
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: 11/15/11 8K re: results for 3 & 9 months ended 10/31/11
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