Value in the Dow

I've gone through a valuation of each Dow component. I then split them into 5 equal groups depending on how the market value of each compares to the calculated intrinsic value. Here is the list:

Best value: BA, HD, MRK, MSFT, PFE, XOM

Next group: CVX, DD, DIS, INTC, PG, TRV

Middle group: HPQ, IBM, MCD, MMM, T, VZ

Next group: CAT, CSCO, JNJ, KFT, UTX, WMT

Worst value: AA, AXP, BAC, GE, JPM, KO

So energy and pharmaceuticals, with the exception of JNJ, are near the top. Finance stocks are right there at the bottom-which is partially attributable to the methodology and also the result of the problems in the sector over the last year.