February 22, 2021 BARRON’S M35
Last Prev. Year
Week Week AgoDJIndAvg 31494.32 31458.40 28992.41
P/E Ratio 33.74 33.19 22.53
Earns Yield % 2.96 3.01 4.44
Earns $ 933.50 947.91 1286.78
Divs Yield % 1.88 1.88 2.21
Divs $ 592.12 591.72 640.45
Mkt to Book 4.71 4.70 4.45
Book Value $ 6688.86 6688.86 6512.92
DJTransAvg 13274.21 13175.09 10908.94
P/E Ratio 0.00 0.00 18.76
Earns Yield % 0.00 0.00 5.33
Earns $ (258.84) (241.61) 581.57
Divs Yield % 1.16 1.17 1.58
Divs $ 153.67 153.61 172.18
Mkt to Book 3.92 3.89 3.37
Book Value $ 3389.19 3389.19 3239.67
DJUtilityAvg 846.51 857.10 948.74
P/E Ratio 23.81 23.59 26.30
Earns Yield % 4.20 4.24 3.80
Earns $ 35.56 36.33 36.08INDEXES'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
THEWEEKINSTOCKSFORTHEMAJORINDEXES
12-Month Weekly Friday Weekly 12-Month ChangeFrom
High Low High Low Close Chg. %Chg. Chg. %Chg. 12/31 %Chg.
DowJonesIndexes
31613.02 18591.93 30 Indus 31613.0231493.34 31494.32 35.92 0.11 2501.91 8.63 887.84 2.90
13274.21 6703.63 20 Transp 13274.2113049.70 13274.21 99.12 0.75 2365.27 21.68 767.28 6.13
948.74 610.89 15 Utilities 857.98 846.51 846.51 –10.59 –1.24 –102.23 –10.78 –18.13 –2.10
10415.12 6100.31 65 Comp 10415.1210386.65 10415.12 10.29 0.10 812.63 8.46 306.41 3.03
DowJonesIndexes
41733.23 22462.76 US TSM Float 41672.0441346.77 41413.61 –319.62 –0.77 7246.40 21.21 2193.99 5.59
1000.82 547.67 US Market 999.69 993.39 993.43 –7.39 –0.74 164.27 19.81 46.08 4.86
1101.29 487.28 Internet 1101.05 1079.48 1079.48 –21.81 –1.98 392.83 57.21 117.91 12.26
NewYorkStockExchange
15423.02 8777.38 Comp-z 15423.0215290.64 15362.69 –6.91 –0.04 1386.91 9.92 837.89 5.77
8905.95 5036.38 Financial-z 8905.95 8827.93 8905.95 139.43 1.59 100.19 1.14 613.10 7.39
20901.84 12991.76 Health Care-z 20443.8220076.17 20076.17 –490.06 –2.38 1729.74 9.43 30.50 0.15
8965.43 4032.17 Energy-z 7671.92 7492.34 7580.71 197.91 2.68 –1384.72 –15.45 1077.93 16.58
NYSEAmericanStockExchange
2659.63 1317.22 NYSE Amer Comp2659.63 2600.45 2639.13 14.64 0.56 232.24 9.65 278.23 11.78
2813.02 1742.29 Major Mkt 2813.02 2795.24 2795.24 -8.37 –0.30 –10.03 –0.36 48.21 1.76
Standard&Poor'sIndexes
1803.14 1040.00 100 Index 1803.14 1782.68 1782.68 –20.44 –1.13 288.79 19.33 62.18 3.61
3934.83 2237.40 500 Index 3932.59 3906.71 3906.71 –28.12 –0.71 568.96 17.05 150.64 4.01
5549.23 3123.44 Indus 5536.23 5485.79 5485.79 –63.44 –1.14 957.55 21.15 188.51 3.56
2544.55 1218.55 MidCap 2539.23 2496.65 2535.39 –9.16 –0.36 451.06 21.64 228.77 9.92
1297.90 595.67 SmallCap 1293.88 1267.12 1288.77 –9.13 –0.70 279.15 27.65 169.84 15.18
NasdaqStockMarket
14095.47 6860.67 Comp 14047.5013865.36 13874.46 –221.01 –1.57 4297.87 44.88 986.18 7.65
13807.70 6994.29 100 Index 13773.7713580.78 13580.78 –226.92 –1.64 4134.09 43.76 692.49 5.37
11219.80 5239.66 Indus 11138.0711029.77 11029.77 –160.80 –1.44 3710.43 50.69 632.95 6.09
10579.22 6343.13 Insur 10568.3010451.78 10564.22 4.76 0.05 36.53 0.35 477.79 4.74
4238.56 2136.72 Banks 4238.56 4125.20 4238.56 132.16 3.22 431.76 11.34 691.67 19.50
9689.72 4608.77 Computer 9677.05 9512.15 9526.14 –163.58 –1.69 3177.46 50.05 708.62 8.04
486.42 298.17 Telecom 481.63 473.52 473.52 –10.71 –2.21 68.71 16.97 –0.62 –0.13
RussellIndexes
2237.63 1224.45 1000 2235.17 2220.92 2220.92 –16.71 –0.75 371.50 20.09 100.06 4.72
2299.00 991.16 2000 2272.89 2218.39 2266.69 –22.67 –0.99 588.08 35.03 291.83 14.78
2387.37 1288.04 3000 2383.72 2366.09 2369.14 –18.23 –0.76 411.50 21.02 120.70 5.37
1428.08 838.37 Value-v 1428.08 1419.63 1427.56 3.99 0.28 74.91 5.54 77.93 5.77
2561.97 1322.15 Growth-v 2550.89 2518.34 2518.34 –43.63 –1.70 628.31 33.24 90.57 3.73
2968.37 1471.40 MidCap 2963.62 2928.94 2963.62 –4.75 –0.16 518.09 21.19 220.57 8.04
Others
8854.26 3854.81 Value Line-a 8854.26 8725.28 8843.35 –5.24 –0.06 2226.87 33.66 930.32 11.76
629.94 305.71 Value Line-g 629.94 620.42 628.62 –1.15 –0.18 84.22 15.47 59.85 10.52
15159.09 6621.12 DJ US Small TSM15067.3814724.69 15029.89 –129.20 –0.85 3673.47 32.35 1781.22 13.44
941.02 455.11 Barron's 400 937.89 925.12 934.32 –6.70 –0.71 204.30 27.98 82.13 9.64High/Low'sarebaseduponthedailyclosingindex.a-ArithmeticIndex.G-GeometricIndex.V-Value1000andGrowth1000y-Dec.
31,1965=50z-Dec.31,2002=5000144FILINGS
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 ReutersShares Sale
Company Sym Indicated $Value Date Seller TitleAngi Homeservices ANGI 1,410,775 25,535,028 2/9/21 Smith, Craig AF
Southern Copper SCCO 500,000 32,250,000 2/9/21 Larrea Mota-Velasco, German D
Qts Realty Trust QTS 443,001 29,043,145 2/10/21 Williams, Chad AF
Quanex Building Products NX 292,400 7,195,964 2/8/21 Griffiths, William AF
Vishay Intertechnology VSH 258,820 5,970,977 2/10/21 Zandman, Ruta AF
Advanced Micro Devices AMD 250,000 22,867,500 2/9/21 Su, Lisa AF
Unity Software U 217,124 27,815,755 2/9/21 Riccitiello, John AF
Raymond James Financial RJF 201,982 22,377,415 2/8/21 James, Thomas R
Castle Biosciences CSTL 168,742 15,517,514 2/8/21 Maetzold, Derek O
Peloton Interactive PTON 160,000 23,728,000 2/8/21 Kushi, Hisao AF
STOCKVOLUME
Last Prev. Year YOY
Week Week Ago %Chg
NYSE(a) 3,990,927 4,676,320 4,262,844 -6.38
30 Dow Inds (b) 1,361,906 1,514,714 1,373,439 -0.84
20 Dow Trans (b) 387,930 453,669 217,897 78.03
15 Dow Utils (b) 215,993 204,539 189,865 13.76
65 Dow Stks (b) 1,965,829 2,172,924 1,781,201 10.37
NYSE American (a) 214,495 366,909 77,582 176.47
Nasdaq(d) 27,845,427 45,392,527 10,266,243 171.23
NYSE 15 Most Active
Average Price 23.46 23.89 17.01 37.92
% Tot Vol 19.43 17.68 16.56 17.33
Stock Offerings $(z,v) 5,893,800r22,821,4005,277,200 11.68
DailyStockVolume
Daily 2/15 2/16 2/17 2/18 2/19
NYSE(a) ... 1,017,515 966,839 941,103 1,065,471
30 Inds (b) ... 336,992.5 345,858.3 325,989.4 353,065.4
20 Trans (b) ... 100,844.2 92,663.7 75,773.2 118,649.4
15 Utils (b) ... 48,644.6 44,116.5 64,557.7 58,673.8
65 Stks (b) ... 486,481.3 482,638.5 466,320.3 530,388.6
NYSE Amer(a) ... 58,991 66,602 45,488 43,414
Nasd(d) .... 7,629,709 7,141,755 6,391,495 6,682,468
NYSE 15 Most Active
Avg. Price .... 23.52 26.90 28.96 21.00
% Tot Vol .... 17.83 20.63 20.97 19.79
Numbersinthousandssavepriceandpercentages.(a)Primary
volume. (b)Compositevolume.(d)asof4:10pm.(r)Revised.(v)
W/EThursday.(z)Source:Refinitiv.Divs Yield % 3.27 3.22 2.71
Divs $ 27.66 27.61 25.73
Mkt to Book 2.26 2.29 2.56
Book Value $ 374.40 374.40 370.98
S&P500Index 3906.71 3934.83 3337.75
P/E Ratio 39.78 40.06 25.11
Earns Yield % 2.51 2.50 3.98
Earns $ 98.22 98.22 132.90
Divs Yield % 1.48 1.47 1.83
Divs $ 57.82 57.84 61.08
Mkt to Book 4.27 4.30 3.92
Book Value $ 914.49 914.49 851.62
S&PIndIndex 5485.79 5549.23 4528.24
P/E Ratio 45.20 45.73 28.14
Earns Yield % 2.21 2.19 3.55
Earns $ 121.36 121.36 160.94
Divs Yield % 1.33 1.31 1.69
Divs $ 72.96 72.69 76.53
Mkt to Book 5.81 5.88 5.13
Book Value $ 944.26 944.26 883.41Last Prev. Year
Week Week AgoU.S. DOLLAR INDEX vs EURO and YEN
-10-505101520M A M J J A S O N D JFEURO in $sYEN in $sDXY (90.34)sSource: Tullett PrebonA Struggle:The U.S. Dollar Index dipped slightly on the week. Fiscal spending at
home is pressuring the greenback, while weaker economics overseas work as a lift.
BARRON'S50-STOCKAVERAGE
This index is an weighted average of 50 leading issues.
Useful in security valuation. Source: Barron's Stats
Feb18 Feb11 Feb Yr-to-Yr
2021 2021 2020 %ChgS&P 500 Index 3913.97 3916.38 3267.93 19.77
Barron's 50 Index 9896.39 9883.07 9721 1.80
Projected quarterly earn 14.67 22.74 101.43 –85.53
Annualized projected earn 58.69 90.95 405.71 –85.53
Annualized projected P/E 168.62 108.66 24.1 599.75
Five-year average earn 379.28 380.89 397.94 –4.69
Five-year average P/E 26.09 25.95 24.4 6.80
Year-end earn 314.70 314.70 388.42 –18.98
Year-end P/E 31.45 31.40 25.0 25.55
Year-end earns yield, % 3.18 3.18 4.0 –20.69
Best grade bond yields, % 1.40 1.41 2.29 –38.86
Bond yields/stock ylds, % 0.44 0.44 0.57 –23.39
Actual year-end divs 210.92 211.27 221.29 –4.69
Actual yr-end divs yld, % 2.13 2.14 2.28 –6.65DAILYCBOEVIXINDEX
Week
Ended Open High Low Last Chg.202Feb. 19 23.10 23.19 20.84 22.05 – 0.44
18 21.98 24.23 21.80 22.49 + 0.99
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 6.56 16.36
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 6.52 23.49
Intel 4.94 1.337 18.07Book
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 2.1415.63
Nike Inc 0.78 1.01 5.17
Proc Gam 5.29 3.162 18.40
3M Co 9.25 5.89 17.50
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 1.24 13.53
Walgreens (0.81) 1.8626.26
Wal-mart 4.73 2.16 26.36
TransportationStocks
Alaska Air Group(10.56)Suspended35.21
American Airlines(13.84)Suspended(0.28)
Avis Budget Grp(9.73) 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 4.08 1.04 12.94
FedEx 9.19 2.60 69.84
Hunt (JB) 4.74 1.09 21.34
JetBlue Air (3.03) Nil 17.02KC Southern 6.55 1.64 45.95
Kirby Corp (3.22) Nil 56.18
Landstar Sys 4.55 0.815 18.28
Matson Inc 2.75 0.91 18.78
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 4.05 3.81
United Airlines (16.45) Nil 45.90UtilityStocks
AES Corp. (0.52) 0.579 4.51
Am Elec 3.87 2.88 39.73
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 1.73 3.84 61.20
Edison Int'l 0.99 2.567 36.75Exelon 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 25.03ComingU.S.Auctions
Yields(%)
Day When Last
Issued* AuctionM
$54.0bil 3-month 0.033 0.040
$51.0bil 6-month 0.045 0.060
T
$34.0bil 1-year 0.058 0.090
$51.0bil 2-year 0.109 0.125
W
$61.0bil 5-year 0.571 0.424
TH
$62.0bil 7-year 0.958 0.754
*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 AgoBULLISH 84.2% 86.1% 79.3%CurrentMarketExposure:100%Equities,0%Bonds,0%Cash
Source:DeltaInvestmentManagement
http://www.deltaim.com,(415)249-6337