3/26/12 Mon pm Dow Closes at 13,241.63 up 160.9 or 1.23%

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Post No. 1,543 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 recent ranking of the Dow 30 components by market capitalization and Dow 30 components' recent SEC filings.

The Dow Jones Industrial Average closed Monday at 13,241.63 up 160.9 or 1.23% from Friday's close of 13,080.73. Of the 30 Dow components 29 gained and only Verizobn declined. The biggest gainer dollar-wise was IBM
$207.77 +2.29 1.11% 3,415,932 NYSE and percentage-wise was American Express AXP $58.66 +1.41 2.46% 6,338,158 NYSE. The only and therefore biggest decliner dollar-wise and percentage-wise was Verizon VZ
$39.33 -0.09 0.23% 44,210,175 Dual Listed.


As of the close of the open Monday, the current divisor for the Dow Jones Industrial Average found at page C4 of Monday's Wall St. Journal is 0.132129493. Monday's trailing P/E ratio is 14.64 up from Friday's trailing P/E ratio of 14.60 (year ago it was 14.79); Monday's P/E estimate is 12.65 down from Friday's P/E estimate of 12.83 (year ago it was 12.29) and Monday's dividend yield is 2.50 unchanged from Friday's dividend yield of 2.50 (last year it was 2.40). 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.

Monday's Dow Jones Industrial Average closing numerator was 1,749.61 up 21.26 from Friday's closing numerator of 1,728.35. 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 Monday's Dow Jones Industrial Average was $58.32 up $0.71 from Friday's average closing price of $57.61. The median closing price of Monday's Dow Jones Industrial Average was $51.69 (DD/HD) up $0.60 from Friday's median closing price of $51.09. The lowest volume was 3M MMM $89.12 +0.66 0.75% 2,572,014 NYSE and the highest volume again was Bank of America BAC $9.93 +0.08 0.81% 240,113,660 NYSE.

If Monday 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 $2,126 ($174,961 - $172,835).

MarketWatch Monday 3/26/12 4:48 pm by Laura Mandaro says U.S. stocks erased a week’s worth of losses Monday, surging after Federal Reserve Chairman Ben Bernanke signaled the central bank is committed to a policy that’s helped stocks rally for three years. The Dow Jones Industrial Average DJIA +1.23% rose 160.90 points, or 1.2%, to 13,241.63, gathering momentum throughout the day to more than recoup its 152-point loss, or 1.2%, last week — its worst week of the year. The S&P 500 Index SPX +1.39% gained 19.40 points, or 1.4%, to 1,416.51. The Nasdaq Composite Index COMP +1.78% added 54.65 points, or 1.8%, to 3,122.57, which is its highest close since mid-November 2000 and an extension of last week’s minor gains. Federal Reserve chief points to accommodative monetary policy as helping underpin labor-market improvement, but he says greater economic demand is the best means to ensure jobs don’t deteriorate again.
Stock gains were widespread. On the Dow, only one of its 30 components fell. International Business Machines Corp. IBM +1.11% , notching a record high close of $207.77, contributed the most to the Dow’s point gain, followed by United Technologies Corp. UTX +2.08% , and Chevron Corp. CVX +1.39% On the New York Stock Exchange, advancers outpaced decliners by more than three to one. NYSE composite volume was 3.5 billion, still well under last year’s average. Nasdaq composite volume was 1.6 billion. All 10 industry sectors on the S&P 500 were higher, led by health care, tech and consumer discretionary. The S&P 500’s gain also eradicated last week’s loss of 0.5%, its worst week of the year. “We were a little weak last week. People were looking for a correction — maybe they decided that’s as much as we were going to get,” said Jerry Webman, chief economist at OppenheimerFunds, Inc. Ahead of the opening bell, Bernanke said it’s not yet certain the recent pace of improvement in the nation’s labor market will be sustained, noting a still-high unemployment rate and the large number of people who have been out of work for more than six months. Further improvements could be supported by “continued accommodative policies,” he added. “The fact that he’s maintaining loose policy and is open to further easing is providing a lift for stocks,” according to Andrew Fitzpatrick, director of investments at Hinsdale Associations in Hinsdale, Ill. “Having the Fed providing support and liquidity has been a key driver in this rally,” he said. Stocks added to broad gains after an index of pending-home sales for February dipped from January, disappointing the expectations of some economists for a 1% rise. It was still higher than a year ago. “The housing market is still in a spot where it’s trying to find a bottom. The [stock] market has already priced that in and it’s looking the other way,” Fitzpatrick said. The Fed’s policy of keeping rates near zero and taking extraordinary measures to boost the economy, such as buying large amounts of bonds, has been credited, in concert with similar actions by other central banks, with lifting U.S. stocks out of a bear market three years ago. The S&P 500 has more than doubled since then. “Bernanke’s comments suggest that he is not done providing liquidity to the market,” said Michael Yoshikami, chief executive of Destination Wealth Management in Walnut Creek, Calif. “QE 3 is alive and well despite other Fed officials commenting on the possibility of interest-rate increase in 2013.” Not all analysts agreed the comments spelled a new program of extraordinary liquidity was in store. But Bernanke’s speech was enough to sink the U.S. dollar, whose value is seen as being eroded by the Fed’s liquidity-boosting programs. The U.S. dollar fell against the euro EURUSD -0.0112% after the Bernanke comments, also providing a lift to export-sensitive stocks like industrials. The dollar index DXY -0.52% dropped to 78.925 from 79.344 late Friday in North America, and the euro rose above $1.33. Read more on currencies. U.S. Treasurys fell, pushing long-term yields up for the first session in five. Yields on the 10-year note 10_YEAR +0.54% were up 2 basis points at 2.25%. “Given we’ve got a little selloff in Treasurys on a day when the chairman of Fed is saying we’re keeping interest rates down, it seems like we’ve had a little asset allocation going on,” into stocks, said OppenheimerFunds’ Webman. Crude futures for May delivery CLK2 +0.24% gained 16 cents to $107.03 a barrel. Gold for April delivery GCJ2 +1.64% rose $23.20, or 1.4%, to $1,685.60 an ounce. Health-care shares surged the most, leading the S&P 500 higher on the same day the Supreme Court heard arguments on the legality of landmark health-care legislation. The central issue before the high court is whether a mandate that all individuals buy insurance is constitutional. Hospital operator Tenet Healthcare Corp. /quotes/zigman/150561/quotes/nls/thc THC +5.52% shares rallied 5.1%, the second-best on the S&P 500.Stock index futures and European stock markets had been higher ahead of Bernanke’s comments, supported by a surprisingly strong reading in the German Ifo business-climate index. The Stoxx 600 closed up 0.9% at 268.12.

Monday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market

AT&T T
$31.79 +0.27 0.86% 72,120,244 NYSE

Alcoa AA
$10.22 +0.11 1.09% 13,738,464 NYSE

American Express AXP
$58.66 +1.41 2.46% 6,338,158 NYSE

Bank of America BAC
$9.93 +0.08 0.81% 240,113,660 NYSE

Boeing BA
$75.18 +1.21 1.64% 3,714,860 NYSE

Caterpillar CAT
$108.75 +0.92 0.85% 4,565,917 NYSE

Chevron CVX
$107.84 +1.48 1.39% 5,311,026 NYSE

CSCO
$20.84 +0.31 1.51% 28,983,233 NASDAQ-GS

Coke KO
$71.9 +0.41 0.57% 5,751,446 NYSE

Disney DIS
$44.38 +0.73 1.67% 10,850,620 NYSE

DuPont DD
$53.25 +0.62 1.18% 4,460,576 NYSE

Exxon XOM
$87.03 +1.48 1.73% 17,330,697 NYSE

GE
$20.05 +0.27 1.37% 42,840,830 NYSE

Hewlett-Packard HPQ
$23.89 +0.26 1.1% 23,851,449 NYSE

Home Depot HD
$50.13 +0.59 1.19% 11,699,893 NYSE

Intel INTC
$28.19 +0.315 1.13% 32,690,196 NASDAQ-GS

IBM
$207.77 +2.29 1.11% 3,415,932 NYSE

JPMorgan JPM
$46.17 +1.01 2.24% 33,397,100 NYSE

Johnson & Johnson JNJ
$65.17 +0.62 0.96% 8,406,687 NYSE

Kraft KFT
$38.63 +0.38 0.99% 5,980,056 NYSE

McDonald's MCD
$96.97 +1.42 1.49% 5,614,319 NYSE

Merck MRK
$38.66 +0.655 1.72% 11,980,577 NYSE

Microsoft MSFT
$32.59 +0.58 1.81% 36,580,219 NASDAQ-GS

Pfizer PFE
$22.16 +0.34 1.56% 33,321,047 NYSE

Procter & Gamble PG
$67.46 +0.03 0.04% 7,817,956 NYSE

3M MMM
$89.12 +0.66 0.75% 2,572,014 NYSE

Travelers TRV
$58.85 +0.65 1.12% 3,260,979 NYSE

United Technologies UTX
$83.5 +1.70 2.08% 3,560,504 NYSE

Verizon VZ
$39.33 -0.09 0.23% 44,210,175 Dual Listed

Walmart WMT
$61.2 +0.45 0.74% 6,210,736 NYSE




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The following are excerpts from Monday morning's Blog.

A read of the print editions of Monday's Barron's, Wall St. Journal,Financial Times, Investor's Business Daily,New York Times, USA Today, Atlanta Journal Constitution and 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 Friday's stock prices and related data.

Dow Jones Industrial AverageThe Dow Jones Industrial Average closed Friday at 13,080.73 up 34.59 or 0.27% from Thursday's close of 13,046.14. For the week the Dow was down 151.89 or 1.15% from last Friday's close of 13,232.62. For the year the Dow is up 7.07%. Of the 30 Dow components 19 gained and 11 declined. The biggest gainer dollar-wise was Caterpillar CAT $107.83 +1.40 1.32% 5,997,604 NYSE and percentage-wise was Hewlett-Packard HPQ $23.63 +0.60 2.61% 20,532,418 NYSE. The biggest decliner dollar-wise and percentage-wise was United Technologies UTX $81.8 -0.27 0.33% 3,734,684 NYSE.

Inv. Bus. Daily pA1 Nasdaq rises 6th week in row; IBD 50 leads pack" by Paul Whitfield says stocks chalked up pedestrian gains in lower volume Fri as the nasdaq notched its 6th straight up week. The current outlook is still a confirmed uptrend.

Friday's Dow Jones Industrial Average closing numerator was 1,728.35 up 4.57 from Thursday's closing numerator of 1,723.78. 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 Friday's Dow Jones Industrial Average was $57.61 up $0.15 from Thursday's average closing price of $57.46. The median closing price of Friday's Dow Jones Industrial Average was $51.09 (DD/HD) up $011 from Thursday's median closing price of $50.98. The lowest volume was 3M MMM $88.46 -0.11 0.12% 2,323,618 NYSE and the highest volume again was Bank of America BAC $9.85 +0.25 2.6% 281,216,752 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 made $457 ($172,835 - $172,378).

MarketWatch Friday 3/23/12 3:52 pm by Laura Mandaro says U.S. stocks rose Friday, shaving weekly losses, as a jump in oil prices and a drop in the dollar boosted commodities-related stocks. The Dow Jones Industrial Average DJIA +0.27% rose 44.77 points, or 0.3%, to 13,090.83. The S&P 500 SPX +0.31% gained 5.31 points, or 0.4%, to 1,398.09. The Nasdaq Composite COMP +0.15% turned higher, added 4.72 points, or 0.2%, to 3,068.07. A close higher would end a three-day losing streak for the Dow and the S&P 500, curbing declines in what threatened to be the worst week since mid-December. “I think today is more about portfolios that have missed this rally and are looking to get in on a dip,” said Jim Paulsen, chief investment strategist at Wells Capital Management. Plus, a drop in the dollar “reignited some dollar-sensitive sectors, such as oil, basic materials,” and industrials sensitive to international revenues. On the Dow, equipment maker Caterpillar Inc. CAT +1.32% and oil conglomerates Chevron Corp. CVX +0.96% contributed the most to the index’s point gain. Oil shares on the S&P 500 gained 1.1%, leading advances among the index’s 10 subsectors. Materials stocks, including miners and chemical firms, were the second-best performer. Nabors Industries added NBR +4.05% 4.5%. Crude-oil futures for May CLK2 +1.39% delivery rose 1.4% to $106.87 a barrel, helped by concerns about global supplies following a report that Iranian oil exports fell around 300,000 barrels per day in March. Gold futures also jumped. U.S. had veered between mild gains and losses in morning trading, and are still on track to drop for the week after lukewarm U.S. housing data and weaker global manufacturing data have dented sentiment. Purchasing managers indexes in China and Europe, released earlier in the week, showed private activity in contraction. Though expected, the data was “a reason for traders to take a little off the table,” said Fred Dickson, chief investment strategist at Davidson Cos. in Lake Oswego, Oregon. “We’re in a light news zone, it’s lacking fuel for the bulls. It will probably be this way through the end of the month.” Stocks, which wavered in opening trades, fell after data on housing, sending the Dow as much as 43 points lower. Midmorning, the Commerce Department said sales of new homes dipped 1.6% in February to a seasonally adjusted 313,000, from a slightly downwardly revised 318,000 in January. Economists polled by MarketWatch had expected improving sales, at a 330,000 annual rate. Read more on new home sales. The Dow and S&P 500 are down 1.1% and 0.5%, respectively, for the week. The Nasdaq Composite is slightly higher. The key stock indexes are up between 7% and 17% this year, a heady move that had prompted strategists in recent weeks to say a correction was likely.

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

Symbol Last Sale Change % Change Share Volume Market

AT&T T $31.52 -0.19 0.6% 21,552,481 NYSE: Barron's p42 "Speaking of dividends" by Shirley A. Lazo says Apple yield's 1.8%, Microsoft yields 2.5%, and Cisco 1.6%. Apple is now the 2nd largest S&P 500 dividend payer after AT&T.

Alcoa AA $10.11 +0.10 1% 19,987,193 NYSE:

American Express AXP $57.25 -0.04 0.07% 4,402,081 NYSE: No mentions found.

Bank of America BAC $9.85 +0.25 2.6% 281,216,752 NYSE: Inv. Bus. Daily pA10 "BofA will rent to borrowers" says Bank of America will allow some homeowners to rent their homes instead of going into foreclosure as reported previously.

Boeing BA $73.97 +0.05 0.07% 2,504,881 NYSE: WSJ pB2 "JV with China to develop business jets" by Andrew Galbraith says this move with Cessna will compete with planes from Boeing and Airbus.

Caterpillar CAT $107.83 +1.40 1.32% 5,997,604 NYSE: Inv. Bus. Daily pA2 "Caterpillar sees lift from China" says urbanization in China will help Caterpillar's long term growth there.

"Inv. Bus. Daily pA10 "Putting cash to work in hot markets" by Paul Katzeff says firms like IBM, Qualcomm and Caterpillar get much of their rev from overseas.

Chevron CVX $106.36 +1.01 0.96% 6,370,824 NYSE: Barron's p14 "Apple may juice others on payouts" says the No,. 2 firm by market value behind Apple is Exxon which has faced shareholder pressure for a higher dividend because its yield of 2.2% is below that of Chevron with a 3% and Shell at 4.9%.

Cisco CSCO $20.53 +0.15 0.74% 27,559,113 NASDAQ-GS: Barron's p42 "Speaking of dividends" by Shirley A. Lazo says Apple yield's 1.8%, Microsoft yields 2.5%, and Cisco 1.6%. Apple is now the 2nd largest S&P 500 dividend payer after AT&T.

Barron's p9 "Streetwise" by Michael Santoli says Johnson & Johnson has gone nowhere in 10 years. Pfizer and Merck remain at less than half their 2000 highs. Only 5 firms other than Apple have ever surpassed $500 bil market cap and each peaked out at or below $604 bil the level reached by Microsoft in Dec. '99. The others were fellow turn of the century darlings Cisco, Intel, GE and in mid '09 Exxon.

Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

Coke KO $71.49 +0.07 0.1% 7,976,537 NYSE: No mentions found.

Disney DIS $43.65 +0.36 0.83% 8,469,950 NYSE: WSJ pB9 "Estimated box office figures" for the weekend had Disney's John Carter 4th with a cumulative $62 mil.

DuPont DD $52.63 +0.41 0.79% 4,561,002 NYSE:

Exxon XOM $85.55 +0.22 0.26% 12,346,092 NYSE: Barron's p9 "Streetwise" by Michael Santoli says Johnson & Johnson has gone nowhere in 10 years. Pfizer and Merck remain at less than half their 2000 highs. Only 5 firms other than Apple have ever surpassed $500 bil market cap and each peaked out at or below $604 bil the level reached by Microsoft in Dec. '99. The others were fellow turn of the century darlings Cisco, Intel, GE and in mid '09 Exxon.

Barron's p14 "Apple may juice others on payouts" says the No,. 2 firm by market value behind Apple is Exxon which has faced shareholder pressure for a higher dividend because its yield of 2.2% is below that of Chevron with a 3% and Shell at 4.9%.

Barron's cover story, special section" World's best CEOs" drops IBM's CEO this year, but adds the CEOs of Exxon, JPMorgan, McDonald's and Intel with a full page story on each.

GE $19.78 -0.07 0.35% 32,626,070 NYSE: Barron's p9 "Streetwise" by Michael Santoli says Johnson & Johnson has gone nowhere in 10 years. Pfizer and Merck remain at less than half their 2000 highs. Only 5 firms other than Apple have ever surpassed $500 bil market cap and each peaked out at or below $604 bil the level reached by Microsoft in Dec. '99. The others were fellow turn of the century darlings Cisco, Intel, GE and in mid '09 Exxon.

Hewlett-Packard HPQ $23.63 +0.60 2.61% 20,532,418 NYSE: NYT pB5 "HP reorganizes to help its stock" by Quentin Hardy says this is a quote from CEO Meg Whitman.

Home Depot HD $49.54 -0.14 0.28% 8,598,648 NYSE: No mentions found.

Intel INTC $27.875 -0.02 0.07% 23,879,647 NASDAQ-GS: Barron's cover story, special section" World's best CEOs" drops IBM's CEO this year, but adds the CEOs of Exxon, JPMorgan, McDonald's and Intel with a full page story on each.

IBM $205.48 -0.01 0% 3,011,250 NYSE: Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

Barron's cover story, special section" World's best CEOs" drops IBM's CEO this year, but adds the CEOs of Exxon, JPMorgan, McDonald's and Intel with a full page story on each.

"Inv. Bus. Daily pA10 "Putting cash to work in hot markets" by Paul Katzeff says firms like IBM, Qualcomm and Caterpillar get much of their rev from overseas.

JPMorgan JPM $45.16 +0.51 1.14% 30,414,065 NYSE: NYT pB1 "Email to Corzine said transfer was from firm's money" by Ben Protess says an email now says that the money sent to JPMorgan just before MF Global's bankruptcy was from the firm's own money and not from a customer account.

Fin Times p4 "Finding a seat at top table is big challenge" by Sam Jones says JPMOrgan inherited Bear Steans' prime brokerage business.

Barron's p12 "Week review" says Jon Corzine gave direct instructions to transfer $200 mil to a JPMorgan Chase account just before MF Global went bankrupt.

Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

Barron's cover story, special section" World's best CEOs" drops IBM's CEO this year, but adds the CEOs of Exxon, JPMorgan, McDonald's and Intel with a full page story on each.

Johnson & Johnson JNJ $64.55 +0.09 0.14% 7,679,630 NYSE: Barron's p5 "Up & down Wall st" by Alan Abelson says Pfizer, Elan and Johnson & Johnson have developed bapineuzumab, in Phase III testing which has a decent shot at being in the pipeline next year and could arrest the mental decline from Alzheimer's.

Barron's p9 "Streetwise" by Michael Santoli says Johnson & Johnson has gone nowhere in 10 years. Pfizer and Merck remain at less than half their 2000 highs. Only 5 firms other than Apple have ever surpassed $500 bil market cap and each peaked out at or below $604 bil the level reached by Microsoft in Dec. '99. The others were fellow turn of the century darlings Cisco, Intel, GE and in mid '09 Exxon.

Kraft KFT $38.25 +0.04 0.1% 5,376,937 NYSE: WSJ pB1 "Knights, pirates, trees flock to Facebook" by Suzanne Vranica gives examples of how Kraft and Procter & Gamble are using advertising characters to interact with customers.

McDonald's MCD $95.55 -0.25 0.26% 5,999,150 NYSE: Barron's cover story, special section" World's best CEOs" drops IBM's CEO this year, but adds the CEOs of Exxon, JPMorgan, McDonald's and Intel with a full page story on each.

Merck MRK $38.005 +0.41 1.09% 10,701,355 NYSE: WSJ pB3 "Merck anticlot drug shows rpomise, risk" by Ron Winslow, Peter Loftus says Sat Merck revealed information about Vorapaxar which was once a gem of Merck's '09 acquistion of Schering-Plough for $50 bil. However, there is a significant bleeding risk that could doom the drug.

Barron's p9 "Streetwise" by Michael Santoli says Johnson & Johnson has gone nowhere in 10 years. Pfizer and Merck remain at less than half their 2000 highs. Only 5 firms other than Apple have ever surpassed $500 bil market cap and each peaked out at or below $604 bil the level reached by Microsoft in Dec. '99. The others were fellow turn of the century darlings Cisco, Intel, GE and in mid '09 Exxon.

Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

Microsoft MSFT $32.01 +0.015 0.05% 34,961,653 NASDAQ-GS: NYT pB1 "Microsoft raids tackle net crime" by Nick Wingfield says Microsoft employees and US marshalls raided 2 office buildings to disrupt botnets or groups of computers that harvest bank account passwords and other info from other computers.

Barron's p42 "Speaking of dividends" by Shirley A. Lazo says Apple yield's 1.8%, Microsoft yields 2.5%, and Cisco 1.6%. Apple is now the 2nd largest S&P 500 dividend payer after AT&T.

Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

Pfizer PFE $21.82 +0.09 0.41% 21,920,178 NYSE: Barron's p5 "Up & down Wall st" by Alan Abelson says Pfizer, Elan and Johnson & Johnson have developed bapineuzumab, in Phase III testing which has a decent shot at being in the pipeline next year and could arrest the mental decline from Alzheimer's.

Barron's p9 "Streetwise" by Michael Santoli says Johnson & Johnson has gone nowhere in 10 years. Pfizer and Merck remain at less than half their 2000 highs. Only 5 firms other than Apple have ever surpassed $500 bil market cap and each peaked out at or below $604 bil the level reached by Microsoft in Dec. '99. The others were fellow turn of the century darlings Cisco, Intel, GE and in mid '09 Exxon.

Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

Procter & Gamble PG $67.43 -0.09 0.13% 5,955,181 NYSE: WSJ pB1 "Knights, pirates, trees flock to Facebook" by Suzanne Vranica gives examples of how Kraft and Procter & Gamble are using advertising characters to interact with customers.

WSJ pR8 "Selling green" is an interview with CEO Robert McDonald on how Procter & Gamble is putting consumrs on a mroe sustainable path in this special section on the environment.

Barron's p33 "Big opportunities in big cap stocks" by Lawrence Strauss is an interview with Mark Finn, Portfolio Manager of T. Rowe Price Value Fund who likes firms whose stock prices are sensitive to economic growth like Ge but he is selling IBM. Finn holds Cisco and Microsoft. He thinks Cisco can get up to the mid $20s vs $20 it is today. JPMorgan got permission on 3/13 to resume buying back shares. GE may return capital to shareholders from GE Capital over the next several years and could get up to the mid 20s as well. Pfizer and Merck both addressed their pipeline issues, Pfizer by buying Wyeth and Merck getting Schering-Plough. He says Pfizer's shares are cheap as it has a 4% dividend and is trading at 9 times earnings. He likes Pfizer p/e compared to Procter & Gamble's at 16 times earnings.

3M MMM $88.46 -0.11 0.12% 2,323,618 NYSE: No mentions found.

Travelers TRV $58.2 +0.23 0.4% 2,981,967 NYSE: No mentions found.

United Technologies UTX $81.8 -0.27 0.33% 3,734,684 NYSE: No mentions found.

Verizon VZ $39.42 -0.24 0.61% 28,085,996 DualListed: No mentions found.

Walmart WMT $60.75 +0.10 0.16% 6,918,772 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 (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon to be replaced by Alex Gorsky 4/24/12 (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner to be replaced July 1 by Don Thompson (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 Inge Thulin (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Lowell McAdam (NY, NY)
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 3/7/12 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $404.5 [5]
2. IBM 229 [1]
3. Microsoft MSFT 268 [8.5]
4. Chevron CVX 216.5 [2]
5. WalMart WMT 205 [3.5]
6. GE 198.5 [10.5]
7. Procter & Gamble PG 183.5 [3]
8. AT&T T 183 [6]
9. Johnson & Johnson JNJ 176.5 [3]
10. Pfizer PFE 161 [7.5]
11. Coke KO 155.5 [2.5]
12. JPMorgan Chase JPM 152.5 [4]
13. Intel INTC 137 [5]
14. Merck MRK 113.5 [3]
15. Verizon VZ 110 [3]
16. Cisco CSCO 104.5 [5.5]
17. McDonald's MCD 102 [1]
18. Bank of America BAC 86 [10.5]
19. United Technologies UTX 75 [1]
20. Disney DIS 75 [2]
21. Home Depot HD 73 [1.5]
22. Caterpillar CAT 70 [.5]
23. Kraft KFT 67 [2]
24. American Express AXP 61 [1]
25. 3M MMM 59.5 [.5]
26. Boeing BA 55 [1]
27. Hewlett-Packard HPQ 48 [2]
28. DuPont DD 47 [1]
29. Travelers TRV 22.5 [.5]
30. Alcoa AA 10 [1]

Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 3/7/12:

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

AT&T T: 2/29/12 8K re: redemption of 5.87% Notes due 5/15/12
2/24/12 10K for FY ended 12/31/11
2/21/12 Prelim Proxy re: Annual Meeting of Stockholders on 4/27/12 Grand America Hotel, Salt Lake City, Utah
2/13 8K re: sale of $3 bil Global Notes
1/26/12 two 8Ks re redemption of 6.3% Sr. notes & reduction of Citibank lending commitment to $3 bil
1/13/12 two 8Ks re: 4Q results and stock buybacks

Alcoa AA: 2/26/12 8K re: amendment to bylaws re: notice to shareholders
3/1/12 Prelim Proxy re: Annual Meeting of Shareholders 5/4/12 Fairmont Hotel, Pittsburgh, PA
2/28/12 10K/A & 2/16/12 10K for FY ended 12/31/11
1/19/12 8K re: Sir Martin Sorrell's appointment to Board of Dirs
1/12/12 8K e: transcript of 4Q earnings call
1/10 8K re: 4Q results
1/6/12 8K re: closing of smelter plant in Alcoa, Tn & 2 plants in Tx

American Express AXP: 3/2/12 Prelim Proxy re: Annual Meeting of Shareholders 4/30/12 American Express HQ, NYC
2/29/12 & 2/24/12 10K/A & 10K for FY ended 12/31/11
2/15/12 8K re: Deling & write-off stats for 3 months ended 1/31/12
2/13/12 8K re: retirement of Director Dan Akerson
2/9/12 8K re: Investor presentation
1/27/12 8K re: amendment to '07 Incentive Comp Plan
1/19 8K re: 4Q & FY '11 results
1/17/12 8K re: delinq. & write-off stats thru 12/31/11
12/15/11 8K re: delinq. & write-off stats for prior 3 months

Bank of Am BAC: 2/23/12 10K for FY ended 12/31/11
2/10/12 8K re: settlement of mortgage abuse case with state & fed regulators
1/19/12 4Q & FY '11 results
1/13/12 8K re: restated indenture
12/16/11 8K re: unregistered sale of $885.4 of Senior Notes
12/6/11 8K re: stating it is unaffiliated from IPIC Group's mini-tender off of 4.86% of its common
12/2/11 8K re exchange of $442.3 of senior notes
12/1/11 Proxy re: amendment of Dec. of Trust for Preferred HITs

Boeing BA: 2/29/12 8K re: grant of stock options to exec
2/9/12 10K for year ended 12/31/11
1/25/12 8K re: 4Q results
12/15/11 8-K/A election of Gregory D. Smith as CFO

Caterpillar CAT: 2/21/12 10K for FY ended 12/31/11
2/21/12 8K re: Jan '12 dealer stats
1/26/12 two 8Ks re: 4Q & full year '11 results & dealer stats.
12/19/11 8K re pst 3 months dealer stats.
12/16/11 8K re extension of stock repurchase plan

Chevron CVX: 2/23/12 10K for FY ended 12/31/11
1/27/12 two 8Ks re: 4Q results & grant of exec stock options
1/11/12 8K re: forecast for 4Q
12/12/11 8K re grant of exec stock options

Cisco CSCO : 2/21/12 10Q for Qtr ended 1/28/12
2/17/12 8K re: $3 bil credit agreement with Bank of America
2/8/12 8K re: 2Q results
12/16/11 8K re pre-arranged exec stock trading plan
12/8/11 8K re amendment of stock option plan

Coke KO 2/23/12 10K for FY ended 12/31/11
2/21/12 8K re: election of Robert A. Kotick as Dir.
2/15/12 8K re: adoption of restricted stock plan
2/7/12 8K re: 4Q & full year '11 results
12/19/11 re election of ex Mayor of Chicago Richard M. Daley to Board of Dirs.

Disney DIS 2/13/12 8K re: sale of $1 bil of 1.125% Global Notes due '17
2/7/12 10Q for 12/31/11
2/7/12 8K re: 1Q results
1/20/12 Proxy re: annual mtg of shareholders on 3/13/12 at 10 am at Westin, Kansas City
12/1/11 8K re sale of $1.6 bil of Global Notes

DuPont DD: 2/9/12 10K re: FY ended 12/31/11
1/25/12 8K re: comp to CEO Ellen Kullman
1/24/12 8K re: Qtr ended 12/31/11 results

ExxonMobil XOM: 2/29/12 8K re: election of Henrietta H. Fore as Dir.
2/24/12 10K for FY ended 12/31/11
2/23/12 8K re: worldwide proved oil & gas reserves
1/31/12 8K re: 4Q results
12/6/11 8K re disclosure of exec bonuses and salaries (CEO's Rex Tillerson's base effective 1/1/12 is $2,567,000 and no exec has a contract, all are employees at will

GE: 1/20/12 8K re: 2/24/12 10K re: FY ended 12/31/11

Hewlett-Packard HPQ: 2/22/12 8K re: 1Q results ended 1/31/12
2/3/12 Proxy re: 3/21/12 annual meeting of shareholders at Santa Clara, CA Convention Ctr.
1/30/12 8K re: Lawrence Babbio retiring from Board of Dirs.
1/20/12 8K re: Sari Baldauf retiring from Board of Dirs.
12/14/11 10Q for year ended 10/31/11
12/12/11 8K re close of sale of $3.5 bil of Global Notes

Home Depot HD: 2/21/12 8K re: FY '11 results & FY '12 guidance
1/6/12 S-3 Shelf Registration for direct purchase of shares

Intel INTC: 2/28/12 8K re: expansion of JV with Micron Tech for flash memory
2/23/12 10K for FY ended 12/31/11
2/9/12 8K re: settlement of antitrust case beought by NY Atty Gen'l
1/20/12 8K re: appointment of Brian M. Krzanich as COO
1/20/12 8K & 1/19/12 8K re: Qtr & FY 12/31/11 results

IBM: 2/28/12 10K for FY ended 12/31/11
2/9/12 8K re: underwriting agreement for 2.2% Notes due '17
2/3/12 8K re: underwriting agreement for notes due '15 - '17
2/3/12 8K re: exec salaries for top 5 execs
1/3/12 8K re: election of CEO Virginia Rometty & also David Farr to Board of Dirs
1/20/12 8K, 1/19/12 8K, & 1/3/12 8K re: results for FY 12/31/11

JPMorganChase JPM: 3/1/12 8K re: 2/28/12 Investor Day Presentation
2/29/12 10K for FY ended 12/31/11
2/9/12 8K re: global settlement of mortgage foreclosure suits brought by state & fed regulators
1/23/12 8K re: issuance of $3.25 bil notes
1/13/12 two 8Ks re: 4Q results
12/22/11 8K re closing of $1.25 bil 5.4% Notes
12/8/11 8K re increase to share repurchase program
12/8/11 8K re FD disclosure re guidance presentation

Johnson & Johnson JNJ : 2/23/12 10K for FY ended 12/31/11
2/21/12 8K re: election of Alex Gorsky as CEO & Dir as of 4/26/12
1/24/12 8K re: 4Q & FY 12/31/12 results
1/13/12 8K re: stock option form certificates
12/13/11 8K re closing of divestiture of assets of Ortho Dematologics division which made Retin-!

Kraft KFT: 2/27/12 10K for FY ended 12/31/11
2/21/12 2 8Ks re: '11 operating results & 4Q results
1/17/12 8K re: forecast of '11 results
1/10/12 8K re: issuance of $800 mil floating rate notes
1/9/12 8K re: execs named for spin-off of N. Amer. grocery business
12/5/11 8K re appointment of Irene Rosenfeld to lead Global Snacks and Tony Vernon as CEO fo N. American Grocery company

McDonald's MCD: 3/7/12 Prelim Proxy re: Annual Meeting of Shareholders 5/24/12 at McDonald's HQ Oak Brook, Ill.
2/24/11 10K for FY ended 12/31/11
2/10/12 8K re: grant of exec stock options
2/8/12 8K re: Jan '12 sales
2/7/12 8K re: issuance of $750 mil med term notes
1/31/12 8K re: exec comp awards to 5 top execs
1/24/12 8K re: 4Q & FY 12/31/11 results
12/2/11 8K re Nov sales rose 7.4%

Merck MRK: 2/28/12 10K for FY ended 12/31/11
2/9/12 8K re: Dr. Thomas Shenk retiring from Board of Dirs.
2/2/12 8K re: full year & 4Q results 12/31/11
1/13/12 8K re: settlement of shareholder derivative suit in US Dist Ct. New Jersey
12/21/11 8K re: technical amendments to bylaws
12/1/11 8K re: election of CEO Ken Frazier to Bd & retirement of former CEO Richard Clark from Board

Microsoft MSFT: 2/27/12 8K re: election of John W. Thompson as Dir.
1/27/12 10Q/A & 1/19/12 10Q for year ended 12/31/11
1/19/12 8K re: 2Q 12/31/11 results
12/22/11 8K/A re frequency of advisory votes on exec pay

Pfizer PFE: 2/28/12 10K for FY ended 12/31/12
1/31/12 8K re: 4Q & full year 12/31/11 results
12/13/11 8K re election of 3 new members to Board

Procter & Gamble PG:2/23/12 8K re: Consumer Analyst Conference slides 2/23/12
2/15/12 8K re: sale of Pringles to Kellogg for $2.7 bil in cash
2/10/12 8K re: restructuring of Beauty & Grooming Global Business Unit
2/6/12 8K re: issuance of $2 bil 2.3% & floating rate notes
1/27/12 10Q & two 8Ks re: 12/31/11 results
1/17/12 8K re: change to segment reporting structure
1/10/12 8K re: declaration of quarterly dividend of 52 & half cents per share

3M MMM:2 8ks 2/21/12 & 2 8ks 2/16/12 re: exec pre-arranged stock trading plans
2/16/12 10K FY 12/31/11
2/8/12 8K re: Inge G. Thulin replacing George W. Buckley as CEO on 2/24/12
1/26/12 8K re: 4Q & full FY 12/31/11 results
12/6/11 8K re eps guidance

Travelers TRV: 2/16/12 10K FY 12/31/11
1/24/12 8K re: quarter results ending 12/31/11

United Technologies UTX: 2/24/12 Def. Proxy re: 4/11/12 Annual Meeting of Shareholders Riviera Theatre Charleston, SC
2/17/12 8K re: election of Pedro Baranda as Pres. of Otis Elevator
2/9/12 10K for year ended 12/31/11
1/25/12 8K re: 4Q & full '11 year results

Verizon Communications Inc. VZ: 2/24/12 10K FY 12/31/11
1/24/12 8K re: 4Q results & '12 outlook
1/6/12 8K re: investor presentation
12/6/11 8K re: election of Lowell McAdam as new CEO
12/2/11 8K re purchase of spectrum for $3.6 bil

WalMart WMT: 2/21/12 8K re: 4Q results
1/25/12 8K re: election of Rosalind Brewer as CEO of Sam's Club
12/8/11 8K re registration rights agreement with certain selling shareholders
12/8/11 10Q for qtr ended 10/1/11