March 1st 2011

U.S. blue chips pushed higher on Monday as the Dow Jones Industrial Average settled the day up
95.89 points or 0.79% at 12,226.34. S&P 500 index also finished 0.56% higher at 1,327.22. Tech-
heavy Nasdaq composite however, only managed to eke out a tiny gain of 1.22 points or 0.04% to
settle at 2,782.27.

March is coming, and that means goodbye to February. Let’s take a look at last month’s top gainers
and losers too. DIS was the top gainer in February. Thanks to the superb earnings report, DIS had
seen its price soaring 12.59%. CVX was the runner-up in February, as strong earnings and high oil
prices have been the catalysts to CVX’s rise. DD was at the third, however.

At the other end of the horizon, CSCO suffered 11.32% decline after a disappointing earnings report
while WMT lost 8.32% throughout the month. MSFT was at the third place as it saw a 4.25% decline
last month. MSFT’s link-up with Nokia has not been a popular thing among investors and this put even
a bigger doubt on the equity market regarding MFST’s future.

Since the beginning of the year, DIS reigned supreme with 16.61% return, second to the oil giant
XOM which soared 16.97% since early January. XOM owed much of its gains to its strong earnings
report with an additional bonus of soaring oil prices. GE is at the next slot, gaining 14.38% and
followed by another oil titan, CVX.

Under the 12-month perspective, the mighty CAT remains the best performing stock with 80.42% of
gains. DD follows at the second place with 62.72%, while CVX at the third with 43.50%. DIS and
XOM are at the fourth and fifth with gains of 40.01% and 31.58%, respectively.

As earnings season had passed, March offers geopolitics as the theme of the month. Middle East
instability has led to a soaring oil prices and at the same time sent the gold price climbing.
Geopolitics will focus on the post-crisis Egypt and the currently chaotic Libya and most importantly,
which Mid-East country will be next? Geopolitics however, has a rather short-term, yet violent impact.

Corporate News
 GE Aviation obtained a share in the recent contract won by BA as the conglomerate will be
providing its technology in mission control systems for BA’s KC-46A aircraft used in the tanker
contract.
 BA has delivered its 300th 737-800 plane to Ryanair, while announcing that TAM SA’s order
value at about $568 million.
 MMM outlined the results of its tender offer for Winterthur Technologie AG stocks of which 56.1%
of Winterthur shares were tendered. Including shares obtained from outside of the tender, MMM
will own 85.3% of Winterthur shares. The definitive results will be announced on March 3rd.
 JPM was said to be involved in about 10,000 different law suits, which could require the bank to
supply an additional $4.5 billion to prepare for legal losses.
 FujiFilm plans to buy MRK’s bio-drug units MSD Biologics Ltd. and Diosynth RTP Inc.

1 .DJI 12,226.34 (+0.79%) .SPX 1,327.22 (+0.56%) .IXIC 2,782.27 (+0.04%)

 March 1st 2011

 PFE’s XIAPEX has received approval from European Commission and will be available in the
European markets later this year.
 Centrica Plc. has appointed HPQ to work on the tech migration outsourcing services worth $400
million and extending at 7-year period. The contract will enable Centrica to become a utility-
based private cloud computing environment.
 IBM was the top server vendor in Q4 2010 with market share of 37.4%, pushing it to the number
one position. Server revenue climbed 21.9% and 2 points of market share have been gained. IBM
also number one in UNIX, as its revenue rose 12% which, in effect pushed the Big Blue’s market
share to 53.9%.
 INTC is seen missing its Q1 guidance, according to JPM analysts. Weak PC demand was the key
factor behind the analysis. PC unit estimate has been lowered from up 9.5% to up 7.0%
compared to a year earlier. INTC has been kept at NEUTRAL, however. INTC also announced that
its acquisition of McAfee has been completed.
 T will begin selling AMZN’s Kindle 3G in its stores starting March 6. Meanwhile, T also plans to
launch location-based texting service, making it the first carrier to offer such service.
 VZ has extended its tender offer to obtain all of outstanding shares of Terremark for $19.00 per
share in cash with no interest and less any required withholding taxes.

Price Performance - as of Feb 28th 2011

Code Last Dy WTD MTD YTD 12-Mos Code Last Dy WTD MTD YTD 12-Mos
AA 16.85 1.02% 1.02% 4.46% 9.49% 26.69% JPM 46.69 0.02% 0.02% 4.83% 10.07% 11.25%
AXP 43.57 0.09% 0.09% -0.66% 1.51% 14.09% KFT 31.84 0.41% 0.41% 4.29% 1.05% 11.99%
BA 72.01 -0.40% -0.40% 4.02% 10.34% 14.01% KO 63.92 -0.61% -0.61% 2.75% -2.81% 21.24%
BAC 14.29 0.63% 0.63% 5.07% 7.12% -14.23% MCD 75.68 1.67% 1.67% 3.28% -1.41% 18.53%
CAT 102.93 0.91% 0.91% 7.58% 9.90% 80.42% MMM 92.23 2.19% 2.19% 5.48% 6.87% 15.07%
CSCO 18.56 -0.43% -0.43% -11.32% -8.26% -23.72% MRK 32.57 1.18% 1.18% -1.51% -9.63% -11.69%
CVX 103.75 1.62% 1.62% 11.12% 13.70% 43.50% MSFT 26.58 0.11% 0.11% -4.25% -4.77% -7.29%
DD 54.87 1.48% 1.48% 9.11% 10.00% 62.72% PFE 19.24 2.01% 2.01% 6.01% 9.88% 9.63%
DIS 43.74 1.84% 1.84% 12.59% 16.61% 40.01% PG 63.05 0.33% 0.33% -1.79% -1.99% -0.36%
GE 20.92 0.48% 0.48% 3.56% 14.38% 30.26% T 28.38 0.89% 0.89% 3.24% -3.40% 14.39%
HD 37.47 1.05% 1.05% 2.10% 6.87% 20.10% TRV 59.93 0.55% 0.55% 7.38% 7.57% 13.96%
HPQ 43.63 2.23% 2.23% -4.13% 3.63% -14.10% UTX 83.54 0.20% 0.20% 2.59% 6.12% 21.69%
IBM 161.88 -0.25% -0.25% 1.68% 10.30% 27.30% VZ 36.92 2.64% 2.64% 3.62% 3.19% 27.62%
INTC 21.47 -1.78% -1.78% 0.05% 2.09% 4.58% WMT 51.98 0.44% 0.44% -8.32% -3.62% -3.87%
JNJ 61.44 3.02% 3.02% 2.38% -0.66% -2.48% XOM 85.53 0.22% 0.22% 8.28% 16.97% 31.58%

Disclaimer: This report is provided for information purposes only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be reliable, but there is no assurance or guarantee regarding its
completeness and accuracy. The author accepts no responsibility or liability arising from any use of the report.

2 .DJI 12,226.34 (+0.79%) .SPX 1,327.22 (+0.56%) .IXIC 2,782.27 (+0.04%)