Fortune 500

Courtesy: J.P. Morgan Chase & Co.

16. J.P. Morgan Chase & Co.
Rank: 16 (Previous rank: 12)
Revenues ($ millions): 101,491.0
CEO: James Dimon
Address: 270 Park Ave.
New York, NY 10017

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It's not often that CEOs get lauded for an annual profit decline of 64%. But Jamie Dimon of J.P. Morgan Chase & Co. has come out of the banking collapse as one of the strongest players in the industry.

He snapped up Bear Stearns for $1.5 billion in March, followed by Washington Mutual for $1.9 billion in September, and now JPM is one of the only big banks that isn't flirting with full-scale nationalization. That said, the company cut its dividend by 87% in February, which it said would save $5 billion per year.

Courtesy: Verizon Communications

17. Verizon Communications
Rank: 17 (Previous rank: 17)
Revenues ($ millions) : 97,354.0
CEO: Ivan G. Seidenberg
Address: 140 West St.
New York, NY 10007

It was no iPhone "killer" but the Blackberry Storm did help Verizon grow its profit in 2008 as customers lined up to buy the touch-screen smartphone. Closing its $28.1 billion purchase of Alltel in January 2009 made Verizon the nation's biggest wireless company with 83.7 million customers.

The company is pushing ahead with its FIOS TV and Internet services in the hopes of making up for the continued decline in its landline business, as more users cut the cord and use only their cells.

Courtesy: Cardinal Health

18. Cardinal Health
Rank: 18 (Previous rank: 19)
Revenues ($ millions): 91,091.4
CEO: R. Kerry Clark
Address: 7000 Cardinal Place
Dublin, OH 43017

2008 was supposed to be a year of deck-clearing for Cardinal Health following its $35 million settlement with the SEC over alleged revenue and earnings misstatements going back to 2004.

But the drug-distribution giant continued to struggle, with earnings dropping 33% and its stock falling 40%, as the generic drug environment weakened and the announcement of two big pharma mergers raised fears that the company would lose negotiating leverage. Since then, Cardinal has confirmed that it will spin off its clinical and medical products business.

Courtesy: CVS Caremark

19. CVS Caremark
Rank: 19 (Previous rank: 24)
Revenues ($ millions): 87,471.9
CEO: Thomas M. Ryan
Address: 1 CVS Dr.
Woonsocket, RI 02895

It became the nation's largest drug chain after taking over Longs Drug Stores last year in a contentious $2.7 billion deal. But the hook-up helped CVS Caremark move up five spots on the 500.

A profitable year didn't come without a struggle: The company scrambled to keep customers at its pharmacy benefit management unit, and a tough economy cut into doctor visits, which meant fewer prescriptions. It didn't help that the CVS Caremark got bad press for offering suppliers paid access to its executives at its charity golf tournament last year.

Courtesy: Procter & Gamble

20. Procter & Gamble
Rank: 20 (Previous rank: 23)
Revenues ($ millions): 83,503.0
CEO: Alan G. Lafley
Address: 1 Procter & Gamble Plaza
Cincinnati, OH 45202

Procter & Gamble started out 2008 with a bang: It sold off its Folgers brand, put through price increases and moved more aggressively into upscale beauty treatments when it bought hair-care brand Frederic Fekkai.

But as the economy ran out of steam, so did P&G. After a profitable fiscal year that ended in June, the company cut estimates as quarterly sales dropped. P&G is now heavily promoting value, but CEO A.G. Lafley says he's holding the fort on those price hikes. Will they stick?

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