February 15, 2021 BARRON’S M31
STOCKVOLUME
Last Prev. Year YOY
Week Week Ago %Chg
NYSE(a) 4,676,320 5,105,423 4,711,111 -0.74
30 Dow Inds (b) 1,514,714 1,632,216 1,523,357 -0.57
20 Dow Trans (b) 453,669 539,542 250,922 80.80
15 Dow Utils (b) 204,539 219,795 211,172 -3.14
65 Dow Stks (b) 2,172,924 2,391,553 1,985,451 9.44
NYSE American (a) 366,909 250,010 76,763 377.98
Nasdaq(d) 45,392,527 35,347,778 11,511,480 294.32
NYSE 15 Most Active
Average Price 23.89 33.13 13.94 71.38
% Tot Vol 17.68 21.94 18.27 -3.23
Stock Offerings $(z,v) 18,205,200r22,565,9007,546,400 141.24
DailyStockVolume
Daily 2/8 2/9 2/10 2/11 2/12
NYSE(a) 970,335 891,763 971,758 1,012,058 830,406
30 Inds (b) 328,411.2 310,138.3 328,392.9 284,681.7 263,089.7
20 Trans (b) 123,609.5 83,245.1 82,400.6 86,649.5 77,764.7
15 Utils (b) 44,951.2 35,484.1 44,561.9 39,415.0 40,126.7
65 Stks (b) 496,971.9 428,867.4 455,355.3 410,746.1 380,983.0
NYSE Amer(a) 71,693 80,979 94,462 70,211 49,564
Nasd(d) 8,379,601 8,586,05910,394,363 10,739,8377,292,667
NYSE 15 Most Active
Avg. Price 19.66 20.90 29.61 26.48 38.23
% Tot Vol 17.46 19.38 19.22 19.96 18.54
Numbersinthousandssavepriceandpercentages.(a)Primary
volume. (b)Compositevolume.(d)asof4:10pm.(r)Revised.(v)
W/EThursday.(z)Source:Refinitiv.
Last Prev. Year
Week Week Ago
DJIndAvg 31458.40 31148.24 29398.08
P/E Ratio 33.19 32.55 22.87
Earns Yield % 3.01 3.07 4.37
Earns $ 947.91 956.86 1285.56
Divs Yield % 1.88 1.90 2.18
Divs $ 591.72 590.41 639.99
Mkt to Book 4.70 4.66 4.51
Book Value $ 6688.86 6688.86 6512.92
DJTransAvg 13175.09 12788.51 10862.92
P/E Ratio 0.00 0.00 18.98
Earns Yield % 0.00 0.00 5.27
Earns $ (241.61) (250.41) 572.35
Divs Yield % 1.17 1.20 1.58
Divs $ 153.61 153.40 171.86
Mkt to Book 3.89 3.77 3.35
Book Value $ 3389.19 3389.19 3239.67
DJUtilityAvg 857.10 872.25 955.35
P/E Ratio 23.59 23.76 26.11
Earns Yield % 4.24 4.21 3.83
Earns $ 36.33 36.71 36.59
THEWEEKINSTOCKSFORTHEMAJORINDEXES
12-Month Weekly Friday Weekly 12-Month ChangeFrom
High Low High Low Close Chg. %Chg. Chg. %Chg. 12/31 %Chg.
DowJonesIndexes
31458.40 18591.93 30 Indus 31458.4031375.83 31458.40 310.16 1.00 2060.32 7.01 851.92 2.78
13175.09 6703.63 20 Transp 13175.0912874.92 13175.09 386.58 3.02 2312.17 21.28 668.16 5.34
960.89 610.89 15 Utilities 871.21 857.10 857.10 –15.15 –1.74 –98.25 –10.28 –7.54 –0.87
10404.83 6100.31 65 Comp 10404.8310340.99 10404.83 117.33 1.14 722.41 7.46 296.12 2.93
DowJonesIndexes
41733.23 22462.76 US TSM Float 41733.2341441.66 41733.23 659.23 1.60 7185.87 20.80 2513.61 6.41
1000.82 547.67 US Market 1000.82 993.65 1000.82 14.70 1.49 162.10 19.33 53.47 5.64
1101.29 487.28 Internet 1101.29 1076.01 1101.29 32.40 3.03 409.00 59.08 139.72 14.53
NewYorkStockExchange
15369.60 8777.38 Comp-z 15369.6015226.61 15369.60 300.00 1.99 1272.27 9.02 844.80 5.82
8908.29 5036.38 Financial-z 8766.52 8657.90 8766.52 188.08 2.19 –141.76 –1.59 473.68 5.71
20901.84 12991.76 Health Care-z 20566.2320312.45 20566.23 293.37 1.45 2138.60 11.61 520.56 2.60
9111.38 4032.17 Energy-z 7382.80 7267.08 7382.80 255.12 3.58 –1693.36 –18.66 880.02 13.53
NYSEAmericanStockExchange
2636.59 1317.22 NYSE Amer Comp2636.59 2575.43 2624.49 94.67 3.74 221.20 9.20 263.59 11.16
2839.97 1742.29 Major Mkt 2805.67 2797.97 2803.60 25.71 0.93 –36.36 –1.28 56.58 2.06
Standard&Poor'sIndexes
1803.12 1040.00 100 Index 1803.12 1794.74 1803.12 13.01 0.73 287.59 18.98 82.62 4.80
3934.83 2237.40 500 Index 3934.83 3909.88 3934.83 48.00 1.23 554.67 16.41 178.76 4.76
5549.23 3123.44 Indus 5549.23 5510.93 5549.23 66.38 1.21 958.61 20.88 251.95 4.76
2544.55 1218.55 MidCap 2544.55 2517.02 2544.55 67.88 2.74 447.94 21.36 237.93 10.32
1297.90 595.67 SmallCap 1297.90 1287.27 1297.90 45.15 3.60 279.63 27.46 178.97 15.99
NasdaqStockMarket
14095.47 6860.67 Comp 14095.4713972.53 14095.47 239.18 1.73 4364.30 44.85 1207.19 9.37
13807.70 6994.29 100 Index 13807.7013655.27 13807.70 203.74 1.50 4184.12 43.48 919.41 7.13
11219.80 5239.66 Indus 11219.8011121.90 11190.57 44.14 0.40 3828.03 51.99 793.75 7.63
10673.14 6343.13 Insur 10579.2210434.96 10559.46 258.20 2.51 –113.67 –1.07 473.03 4.69
4110.15 2136.72 Banks 4110.15 4057.58 4106.40 134.03 3.37 264.97 6.90 559.51 15.77
9689.72 4608.77 Computer 9689.72 9536.72 9689.72 232.54 2.46 3145.38 48.06 872.20 9.89
486.42 298.17 Telecom 486.42 483.08 484.23 5.40 1.13 79.03 19.50 10.09 2.13
RussellIndexes
2237.63 1224.45 1000 2237.63 2221.11 2237.63 33.36 1.51 366.80 19.61 116.76 5.51
2299.00 991.16 2000 2299.00 2282.44 2289.36 56.03 2.51 601.77 35.66 314.50 15.93
2387.37 1288.04 3000 2387.37 2370.67 2387.37 37.20 1.58 407.85 20.60 138.94 6.18
1423.57 838.37 Value-v 1423.57 1413.10 1423.57 25.28 1.81 61.35 4.50 73.95 5.48
2561.97 1322.15 Growth-v 2561.97 2539.28 2561.97 31.38 1.24 642.54 33.48 134.20 5.53
2968.37 1471.40 MidCap 2968.37 2919.80 2968.37 81.61 2.83 501.98 20.35 225.32 8.21
Others
8848.59 3854.81 Value Line-a 8848.59 8768.52 8848.59 238.12 2.77 2191.36 32.92 935.56 11.82
629.77 305.71 Value Line-g 629.77 624.95 629.77 15.90 2.59 81.28 14.82 61.00 10.72
15159.09 6621.12 DJ US Small TSM15159.0915070.04 15159.09 398.33 2.70 3746.13 32.82 1910.42 14.42
941.02 455.11 Barron's 400 941.02 929.77 941.02 26.25 2.87 203.68 27.62 88.83 10.42
High/Low'sarebaseduponthedailyclosingindex.a-ArithmeticIndex.G-GeometricIndex.V-Value1000andGrowth1000y-Dec.
31,1965=50z-Dec.31,2002=5000
144FILINGS
SEC Form 144 must be filed by holders of restricted securities (also called letter stock) who intend to sell shares. Shares Indi-
cated:thenumbertobesold.SalesDate:theapproximatedateofthesale.(Sometimessharesaren'tsold,eventhoughtheirowner
has filed a Form144.) Source: Thomson Reuters
Shares Sale
Company Sym Indicated $Value Date Seller Title
Progyny PGNY 450,000 21,591,000 2/1/21 Schlanger, David AF
Polaris PII 301,218 34,548,665 2/1/21 Wine, Scott FO
8X8 EGHT 300,000 10,800,000 2/5/21 Verma, Vikram AF
Abbott Laboratories ABT 203,393 25,113,256 2/1/21 Allen, Hubert EVP
Polaris PII 153,956 18,315,360 1/28/21 Wine, Scott FO
Caesars Entertainment CZR 140,000 10,225,600 1/29/21 Reeg, Thomas AF
Intellia Therapeutics NTLA 109,889 7,042,786 2/1/21 Leonard, John AF
Polaris PII 104,677 12,460,068 1/29/21 Wine, Scott FO
Sensata Technologies ST 99,407 5,268,571 2/4/21 Beringhause, Steven UT
Intellia Therapeutics NTLA 93,625 6,000,426 2/1/21 Rivera, Jose AF
Divs Yield % 3.22 3.16 2.69
Divs $ 27.61 27.56 25.70
Mkt to Book 2.29 2.33 2.58
Book Value $ 374.40 374.40 370.98
S&P500Index 3934.83 3886.83 3380.16
P/E Ratio 40.06 39.57 25.43
Earns Yield % 2.50 2.53 3.93
Earns $ 98.22 98.22 132.90
Divs Yield % 1.47 1.49 1.81
Divs $ 57.84 57.91 61.18
Mkt to Book 4.30 4.25 3.97
Book Value $ 914.49 914.49 851.62
S&PIndIndex 5549.23 5482.85 4590.62
P/E Ratio 45.73 45.18 28.52
Earns Yield % 2.19 2.21 3.51
Earns $ 121.36 121.36 160.94
Divs Yield % 1.31 1.33 1.67
Divs $ 72.69 72.92 76.66
Mkt to Book 5.88 5.81 5.20
Book Value $ 944.26 944.26 883.41
Last Prev. Year
Week Week Ago
U.S. DOLLAR INDEX vs EURO and YEN
-10
-5
0
5
10
15
20
M A M J J A S O N D JF
EURO in $
s
YEN in $
s
DXY (90.45)
s
Source: Tullett Prebon
Bit by Bit:Cryptocurrencies soared, but the dollar lost ground against the euro and
other trading currencies—dropping the U.S. Dollar Index 1.2% for the week.
INFLATION-INDEXEDTREASURY
SECURITIES
Accr.
Rate Mat. Bid/Asked Chg. *Yld Prin.
0.125 04/21 100-19/21 – 8 -3.891 1098
0.625 07/21 101-21/23 – 6 -3.465 1155
0.125 01/22 102-02/04 – 6 -2.154 1150
0.125 04/22 102-18/20 – 4 -2.093 1070
0.125 07/22 103-21/23 – 3 -2.448 1132
0.125 01/23 104-12/14 – 4 -2.145 1127
0.625 04/23 105-31/01 ... -2.087 1048
0.375 07/23 106-20/22 + 2 -2.303 1118
0.625 01/24 108-07/09 + 2 -2.117 1115
*Yld.tomaturityonaccruedprincipal.
INDEXES'P/ES&YIELDS
DJ latest 52-week earnings and dividends adjusted by Dow Divisors at Friday's close. S&P Dec. 4-quarter's GAAP earnings as
reported and indicated dividends based on Friday close.S&P 500 P/E ratios based on GAAP earnings as reported. For additional
earningsseries,pleaserefertowww.spglobal.com.DJlatestavailablebookvaluesforFY2019and2018,andS&Platestfor2018and
- r-Revised data
Market Laboratory
BARRON'S50-STOCKAVERAGE
This index is an weighted average of 50 leading issues.
Useful in security valuation. Source: Barron's Stats
Feb11 Feb4 Feb Yr-to-Yr
2021 2021 2020 %Chg
S&P 500 Index 3916.38 3871.74 3267.93 19.84
Barron's 50 Index 9883.07 9822.19 9721 1.66
Projected quarterly earn 22.74 36.84 101.43 –77.58
Annualized projected earn 90.95 147.37 405.71 –77.58
Annualized projected P/E 108.66 66.65 24.1 350.93
Five-year average earn 380.89 383.71 397.94 –4.28
Five-year average P/E 25.95 25.60 24.4 6.20
Year-end earn 314.70 314.70 388.42 –18.98
Year-end P/E 31.40 31.21 25.0 25.38
Year-end earns yield, % 3.18 3.20 4.0 –20.58
Best grade bond yields, % 1.41 1.42 2.29 –38.43
Bond yields/stock ylds, % 0.44 0.44 0.57 –22.95
Actual year-end divs 211.27 211.13 221.29 –4.53
Actual yr-end divs yld, % 2.14 2.15 2.28 –6.37
PERSHAREVALUESOFSTOCKSINTHEDOW
JONESAVERAGES
This is a list of the Dow Jones trailing 52-week diluted
share earnings, dividends and book values as reported
by the company. Bolded numbers indicate new values.
Sources Barron's Stats and FactSet.
IndustrialStocks
Book
Earns Divs. Value
Am Exp 3.76 1.72 28.48
Amgen 12.31 6.5616.36
Apple 3.28 0.82 20.37
Boeing (20.75)Suspended(15.31)
Caterpillar 5.46 4.12 26.52
Chevron Corp (2.96) 5.16 76.62
Cisco Sys 2.46 1.44 7.90
Coca Cola 1.92 1.64 4.43
Disney Walt (2.74) 0.00 49.90
Dow (3.17) 2.80 18.26
Goldman Sachs25.40 5.00227.62
Home Depot 11.56 6.00 (2.89)
Honeywell 6.72 3.63 26.01
IBM 6.24 6.5223.49
Intel 4.94 1.337 18.07
Book
Earns Divs. Value
Johnson&John 5.51 3.98 22.59
JPMorgChase 8.87 3.60 75.98
McDonalds 6.55 5.04(11.00)
Merck Co 2.77 2.48 10.20
Microsoft 6.70 2.09 15.63
Nike Inc 0.78 1.01 5.17
Proc Gam 5.29 3.162 18.40
3M Co 9.25 5.8917.50
Salesforce.com 3.83 0.00 37.95
Travelers Cos 10.31 3.37101.54
UnitedHealth Grp 16.03 4.83 60.78
Verizon 4.29 2.485 14.84
Visa 4.88 1.2413.53
Walgreens (0.81) 1.85 26.26
Wal-mart 6.92 2.16 26.36
TransportationStocks
Alaska Air Group(10.56)Suspended35.21
American Airlines(13.84)Suspended(0.28)
Avis Budget Grp(6.54) Nil 8.86
C.H. Robinson 3.71 2.04 12.39
CSX Corp 3.60 1.04 15.32
Delta Air Lines (19.51)Suspended23.89
Expeditors Int'l 3.71 1.04 12.94
FedEx 9.19 2.60 69.84
Hunt (JB) 4.74 1.09 21.34
JetBlue Air (3.03) Nil 17.02
KC Southern 6.55 1.64 45.95
Kirby Corp (3.22) Nil 56.18
Landstar Sys 4.55 0.81518.28
Matson Inc 2.75 0.9118.78
Norf Southern 7.86 3.81 58.87
Ryder Sys (2.42) 2.24 46.48
Southwest Air (2.79) 0.00 18.94
Un Pacific 7.88 3.88 26.19
UPS 1.63 4.04 3.81
United Airlines (16.45) Nil 45.90
UtilityStocks
AES Corp. (0.52) 0.579 4.51
Am Elec 3.87 2.8839.73
American Water Works 3.65 2.20 33.85
Atmos Energy 5.15 2.34 48.18
Con Ed 4.04 3.06 54.12
Dominion Energy(0.52) 3.45 35.33
Duke Energy 2.73 3.8461.20
Edison Int'l 0.99 2.567 36.75
Exelon 2.43 1.53 33.12
FirstEnergy 1.35 1.56 12.90
NextEra Energy 1.99 1.40 75.67
Xcel Energy 2.80 1.72 25.24
Pub Sv Ent 3.77 1.96 29.94
Sempra Energy 12.90 4.18 60.58
Southn Co. 3.00 2.54 25.03
ComingU.S.Auctions
Yields(%)
Day When Last
Issued* Auction
T
$54.0bil 3-month 0.043 0.035
$51.0bil 6-month 0.063 0.050
W
$27.0bil 20-year 1.657 1.657
TH
$9.0bil 30-year 2.005 1.825
*AsofFridayafternoon.
DELTAMARKETSENTIMENTINDICATOR
The Delta MSI measures the position of ~1,800 stocks relative to an
intermediate-term moving average crossover (MAC) point. When
greaterthan50%ofthestocksfollowedareabovethisMACpoint,the
market is bullish and equities are attractive. When the indicator is
below 50%, risk is elevated and stock exposures should be reduced.
ManagerusesdiscretiononassetallocationwhenMSIis50%+/-3%.
Last 2Weeks 3Weeks
CurrentSentiment Week Ago Ago
BULLISH 86.1% 79.3% 84.3%
CurrentMarketExposure:100%Equities,0%Bonds,0%Cash
Source:DeltaInvestmentManagement
http://www.deltaim.com,(415)249-6337