Wall Street News Alert's "stocks to watch" this morning are:
Southridge Enterprises, Inc. (OTCBB: SRDG), GE (NYSE: GE), Clean
Energy Fuels Corp. (NASDAQ: CLNE) and Hess Corporation (NYSE: HES).
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There is important breaking news coming from Southridge
Enterprises, Inc. (OTCBB: SRDG), investors are urged to continue
monitor the stock closely this morning! Yesterday after the markets
closed, the company issued a press release announcing that
Southridge Ethanol, Inc., its wholly owned subsidiary, has signed a
letter of intent ("LOI") to acquire an ethanol plant from
Bronsiacco Industrial Ltd.
More great news for SRDG! "The opportunity to acquire this plant
has given Southridge a tremendous advantage to be a large producer
of ethanol in Brazil. By purchasing an existing plant, we will be
able to produce 50 million gallons per year (MMGY) by May 10, 2009.
With this asset on our balance sheet, we have once again shown our
ability to build shareholder value," stated Ken Milken, President
of Southridge Ethanol, Inc.
To close this acquisition, Southridge will use the proceeds of
an equity financing from an Asian-based investment transaction
nearing completion. The purchase is expected to close in 30 days,
subject to certain conditions, including but not limited to
completion of satisfactory due diligence by the Company, the
negotiation and completion of a definitive acquisition agreement,
approval of the Company and Bronsiacco Industrial Ltd. boards of
directors and other customary conditions.
Investors are urged to continue to monitor the progress of the
company!
The stock closed yesterday at around Four cents a share.
For a recent Wall Street News Alert's in-depth profile of
Southridge Enterprises, visit
http://www.WallStreetNewsAlert.com/HotStocks/SRDG100708/default.aspx.
GE (NYSE: GE) up 5% on 158 million shares traded.
GE is Imagination at Work -- a diversified technology, media and
financial services company focused on solving some of the world's
toughest problems. With products and services ranging from aircraft
engines, power generation, water processing and security technology
to medical imaging, business and consumer financing, media content
and advanced materials, GE serves customers in more than 100
countries and employs more than 300,000 people worldwide.
Chevron Corporation (NYSE: CVX) down 0.3% on 14.6 million shares
traded.
Chevron Corporation is one of the world's leading integrated
energy companies, with subsidiaries that conduct business.
Clean Energy Fuels Corp. (NASDAQ: CLNE) down 7.3% 853,000 shares
traded.
Clean Energy is the leading provider of natural gas (CNG and
LNG) for transportation in North America. It has a broad customer
base in the refuse, transit, ports, shuttle, taxi, trucking,
airport and municipal fleet markets, fueling more than 14,000
vehicles daily at more than 170 strategic locations across the
United States and Canada.
Hess Corporation (NYSE: HES) down 15.1% on 8.4 million shares
traded.
Hess Corporation, with headquarters in New York, is a global
integrated energy company engaged in the exploration, production,
purchase, transportation and sale of crude oil and natural gas, as
well as the production and sale of refined petroleum products.
Market Commentary:
"Markets around the world were mixed on Tuesday as banking
stocks took another beating despite the U.S. Federal Reserve's
announcement that it is to buy massive amounts of short-term debt
in an attempt to unblock tight credit markets," stated Sonja Rudd
in Wall Street News Alert's daily commentary continued at:
http://www.WallStreetNewsAlert.com.
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