DJIA Week in Review: Disney Interactive Restructures, AT&T Chasing After Verizon

Here’s your Cheat Sheet to the top news affecting Dow 30 stocks this week:

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International Business Machines Corporation (NYSE:IBM) and Polycom, Inc. (NASDAQ:PLCM) are conducting an initiative with IBM Research to jointly develop next-generation innovations that should further step up cloud-delivered video collaboration applications in support of key vertical and social uses. Through the terms of the deal, Polycom will colaborate with IBM Research in the exploration and development of technologies that leverage the Polycom RealPresence Platform and real-time video capabilities in the cloud, while businesses are more and more evaluating Video-as-a-Service offerings through private, public and hybrid cloud models.

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Intel Corporation (NASDAQ:INTC) is targeting the reduction of the energy consumption of its primary chip line by 41 percent, which represents the firm’s latest move to make mobile computers thinner and also to operate for a longer period of time on a battery charge, according to the Wall Street Journal.

Johnson & Johnson’s (NYSE:JNJ) Janssen Research & Development division, which is a part of the Janssen Pharmaceutical Companies of Johnson & Johnson, says that the FDA has granted Priority Review to the New Drug Application (submitted June 29th) for bedaquiline to treat pulmonary, multi-drug resistant tuberculosis in adults as part of combination therapy. This designation is granted to medicines that might offer major advances in care, or supply a treatment option in cases for which no adequate therapy exists. Through guidelines of the Prescription Drug User Fee Act, the agency will drive to finalize its review within six months of the NDA submission.

Verizon Communications Inc.’s (NYSE:VZ) independent business ICSA Labs, has won a go-ahead from the United States Department of Health and Human Services for the certification of electronic health records for the next stage of Meaningful Use requirements. The certification program of the HHS’ Office of the National Coordinator for Health Information Technology was established to reinforce the security of electronic health records, protect private patient data, lower operational costs, and to assist providers in becoming “meaningful users.”

The Boeing Company (NYSE:BA) has increased its 20-year China commercial-aircraft market forecast by 5.2 percent, marking at least the third consecutive rise, while macroeconomic growth and growing incomes drive air travel in that nation. In addition, the forecast (released Wednesday in Beijing) predicts that carriers in China will require 5,260 new planes at a value of $670 billion through the year 2031. In 2011, Boeing predicted that China would need 5,000 new planes worth $600 billion through 2030.

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Bank of America Corporation (NYSE:BAC): The attorneys general of several states, including Massachusetts, Maryland, New York and Connecticut, are investigating just exactly how much their states might have lost stemming from a lowered Libor. In contrast to cases that have been filed by private sector attorneys, these government officials can bring more widely-ranging lawsuits on behalf of the states, plus the fact that the Justice Department is working with them as it conducts its own investigation, according to The New York Times.

Chevron Corporation (NYSE:CVX) reports that one of its facilities is expanding to meet growth of demand and will have a capacity of 120,000 metric tons per year.

General Electric Company’s (NYSE:GE) GE Capital, Corporate Retail Finance is the co-collateral agent on a $1.65 billion asset-based credit facility for SuperValu Inc. (NYSE:SVU). The loan proceeds will be used for working capital requirements and for the refinancing of existing debt. GE Capital Markets served as the joint lead arranger and also as joint bookrunner.

Alcoa, Inc.’s (NYSE:AA) aluminum division in Sardinia has been a revenue loser for a while, but Sky TV Italy is reporting that Glencore plans to make a formal offer, according to Reuters.

Bank of America Corporation (NYSE:BAC): Chairman Gary Gensler of the Commodity Futures Trading Commission said Wednesday that the new regulations on derivatives, which include a mandate for banks to become registered swap dealers, will not be in effect until January at the soonest, according to The New York Times.

The Walt Disney Company’s (NYSE:DIS) Disney Interactive has sacked more than 50 employees in a restructuring endeavor, says Deadline Hollywood, which added that around 3 percent of the online business was affected. However, there have so far been no cuts at the organization’s Games group.

The Home Depot, Inc. (NYSE:HD) and Stanley Black & Decker Inc. (NYSE:SWK) are two of several retailers that opposed a new table-saw safety law that failed in the California legislature. Now, advocates of the new tech are driving their case with the federal government through the Consumer Product Safety Commission, said The Los Angeles Times.

Pfizer Inc. (NYSE:PFE) proudly boasts its 3.7 percent dividend yield, but there is more to the firm’s allure than that. Pfizer’s array of new drugs nearing or just hitting the market could aid it in exceeding earnings estimates and drive share prices up another 20 percent to $30 by the end of 2013. In addition, the company is streamlining its operations and divesting businesses to concentrate more on developing and selling prescription meds. Finally, Pfizer is buying enormous amounts of stock, which should get earnings per share to rise again next year.

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Procter & Gamble Co. (NYSE:PG) predicts its fiscal year 2013 core earnings per share at between $3.80 and $4.00, versus a consensus of $3.90. In the same period, organic sales should increase from 2 to 4 percent, and all-in sales growth between 0 and 2 percent. First quarter core earning bet 91 and 97cents, with a consensus of 96 cents. Organic sales should rise 0 to 2 percent, all-in-sales growth from negative 4 to negative 6 percent. The figures come from slides that are being presented at the Barclays Back-to-School Consumer Conference.

AT&T, Inc. (NYSE:T) is piecing together at least 24 deals, with a total value around $2.6 billion for airwaves to come even with Verizon Wireless (NASDAQ:VOD), which has raced ahead to stockpile the industry’s most valuable asset. Separately, Verizon Communications Inc. (NYSE:VZ) says that it will work with Finnish handset maker Nokia Corporation (NYSE:NOK) in the future, a partnering that will probably include the former eventually selling the latter’s line of Windows 8 smartphones. Brenda Raney, speaking for Verizon, reported on Thursday that her company intends to collaborate with Nokia, but declined to give specific details on the arrangements. Nokia currently markets its current Lumia array of smartphones through AT&T Inc. and T-Mobile USA, but industry observers think that Nokia will ultimately have to have a broader relationship with carriers in order to grow its share of the hotly contested domestic smartphone market in particular, as it transitions to Windows 8 technology later in 2012.

International Business Machines Corp. (NYSE:IBM) reports that Anheuser-Busch InBev (NYSE:BUD) has broadened its relationship to exploit the former’s global supply management capabilities in cloud-based e-sourcing solutions. Anheuser-Busch has approved a new five-year arrangement to extend the use of IBM Emptoris solutions in the cloud to assist streamlining supplier sourcing and contract management.

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JPMorgan Chase & Co. (NYSE:JPM) trader Julien Grout, who is based in London, become the fourth such employee under investigation by United States authorities, concerning the bank’s almost $6 billion trading loss, say sources to Reuters. Grout was employed in the firm’s Chief Investment Office and reported to the French credit trader Bruno Iksil.

Viacom Inc. (NYSE:VIAB) launches a new type of multi-platform ad service Thursday, which marks the latest attempt by a television network to gain the attention of consumers who watch TV while at the same time surfing the Web or tweeting, which is a type of multitasking that is now usual, according to The Wall Street Journal. Verizon Communications (NYSE:VZ), PepsiCo Inc. (NYSE:PEP), and Kraft Foods Inc. (NYSE:KFT) will now test ads on that platform.

Microsoft Corporation (NASDAQ:MSFT) is among the rivals of Amazon.com, Inc. (NASDAQ:AMZN) that are spurring the latter to ready its updated Kindle Fire tablet, in hopes of bringing back demand for the device. Meanwhile, the market is more and more crowded with competing products by Apple Inc. (NASDAQ:AAPL), and Google Inc. (NASDAQ:GOOG), along with Microsoft, says Bloomberg. AT&T Inc. (NYSE:T) is piecing together at least 24 deals, with a total value around $2.6 billion for airwaves to come even with Verizon Wireless (NASDAQ:VOD), which has raced ahead to stockpile the industry’s most valuable asset.

Wal-Mart Stores Inc. (NYSE:WMT) has reacted to customer complaints over the original fee for this year’s layaway plan, and is cutting the fee from $15 to $5. Layaway, which is a concept from decades past, lets a shopper set a purchase back at the store, and then pay over time. The company brought the service back last year following a five-year hiatus, and it has greatly boosted seasonal sales totals.

Exxon Mobil Corp. (NYSE:XOM) and Rosneft have named Vostochniy Offshore Structures Construction Yard to run a concept and feasibility evaluation for a platform that can safely explore Kara Sea’s shallow depths. The structure is designed to operate in up to 60 meters, or 200 feet, of water. The structure with drilling equipment would be installed on the seabed to drill a bore and then would be refloated and moved along other drilling sites.

Bank of America Corporation (NYSE:BAC): The key interest rate for more than $500 trillion of securities worldwide will be replaced by a benchmark that will be subject to higher government control, said 45 percent of respondents to a quarterly Bloomberg Global Poll. Additionally, they predicted that the London interbank offered rate, Libor, will be replaced by a more regulated model inside of five years.

The Walt Disney Company’s (NYSE:DIS) Disney Interactive announced on Thursday a restructuring that resulted in the loss of 50 jobs, says The Hollywood Reporter. This move is 18 months after an earlier restructuring caused a layoff of 200. Disney Interactive was the only segment to post a loss of year-over-year revenue in the company’s most recent quarterly report, in which revenue was recorded at $196 million for the first nine months of the fiscal year, representing a decrease of $55 million from the previous year.

General Electric Company’s (NYSE:GE) GE Capital Corporate Finance reported that it is administrative agent on a $75 million asset-based credit facility for Acme Lift Company, LLC, which is a top wholesale rental firm for aerial work platform equipment. This new loan will be used to refinance existing debt and also to support future growth. GE Capital Markets served as the only bookrunner.

International Business Machines Corp. (NYSE:IBM) has announced a new set of services that will target chief marketing officers and chief information officers to increase engagement efforts among selective and digitally empowered customers. The company is debuting a new set of integrated services which are designed to assist businesses in building and expanding their digital marketing presence. In addition, IBM will help businesses utilize technology as a tool through which to build more meaningful, personalized interactions across social, mobile, and online touchpoints.

Pfizer Inc. (NYSE:PFE), Mylan Inc. (NASDAQ:MYL) and the latter’s subsidiary, Mylan Pharmaceuticals, have entered into an agreement that will settle the parties’ patent litigation in connection with Mylan Pharmaceuticals’ Abbreviated New Drug Application for Tolterodine Tartrate ER capsules, 2 mg and 4 mg, the generic version of Pfizer’s Detrol LA, that is indicated for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and frequency. Through the terms, Mylan is permitted to begin sales of the product on January 1, 2014, or earlier under certain limited circumstances, but no later than March 1, 2014, subject to final approval from the FDA. Further, Mylan may launch the product as either an authorized generic or under its own ANDA. Tolterodine Tartrate ER capsules, 2 mg and 4 mg, had domestic sales of around $599 million for the 12 months ending June 31, 2012, according to IMS Health.

AT&T Inc. (NYSE:T): The Federal Communications Commission is expected late Friday to offer a plan to auction off TV airwaves to wireless carriers, says an unnamed inside source to The Washington Post. adding that carriers will employ the new airwaves in the development of faster and more reliable networks.

United Technologies Corp. (NYSE:UTX) has confirmed the estimate of its fiscal year 2012 revenue between $58 billion and $59 billion, with consensus $58.58 billion. Company Senior Vice President and Chief Financial Officer Greg Hayes said that UTC maintains his expectation that cash flow from operations minus capital expenditures, should meet or surpass net income attributable to common shareowners for the year. He commented that “Strong cash generation and proceeds from anticipated divestitures will enable us to pay down approximately one-third of the debt issued for the Goodrich acquisition by the end of 2012.”

Verizon Communications Inc. (NYSE:VZ) raised its annual dividend by 3 percent to $2.06 per share, which it says reflects its strong commitment to deliver increased returns to its shareholders. As a result the company will now pay a quarterly dividend of 51.5 cents compared with 50 cents paid this year, marking the sixth consecutive year of dividend increase. In 2011, Verizon had boosted its annual dividend by 2.6 percent to $2.00 per share.

Intel Corporation (NASDAQ:INTC) says that its customers are reducing inventory in the supply chain as opposed to the normal growth in third-quarter inventory. Also named as reasons for the trend were softness in the enterprise PC market segment, and slumping emerging market demand. However, the data center divisions is meeting expectations.

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JPMorgan Chase & Co. (NYSE:JPM): The key interest rate for more than $500 trillion of securities worldwide will be replaced by a benchmark that will be subject to higher government control, said 45 percent respondents to a quarterly Bloomberg Global Poll. Additionally, they predicted that the London interbank offered rate, Libor, will be replaced by a more regulated model inside of five years.

Kraft Foods Inc.’s (NYSE:KFT) Kraft Foods Group predicts 2013 organic revenue growth in line with market growth, even counting the negative impact of 1 point because of product pruning. Improvements in productivity and overhead savings should drive the 2013 earnings per share of about $2.60 on a GAAP basis. This outlook assumes an interest expense of around $520 million plus an effective tax rate of 35 percent. As has been previously announced, the parents company plans to spin-off Kraft Foods Group, Inc., which will hold Kraft Foods’ North American grocery unit, at 5 p.m. EDT on Oct. 1, 2012. Subsequently, Kraft Foods Group will trade on the NASDAQ stock exchange under the ticker symbol “KRFT.” and at that time, Kraft Foods Inc. will be renamed Mondelz International, Inc., which will trade on the NASDAQ stock exchange under the ticker symbol “MDLZ.”

Microsoft Corporation (NASDAQ:MSFT): Nokia Corporation (NYSE:NOK) expects to introduce its Lumia 920 on November 2nd for AT&T Inc. (NYSE:T), according to several inside sources to The Verge, which added that the firm is collaborating with AT&T and Microsoft to finish a number of tests that are required in order to sign the device off in time.

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