Wall Street News Alert's "stocks to watch" this morning are:
Southridge Enterprises, Inc. (OTCBB: SRDG), Archer Daniels Midland
Company (NYSE: ADM), VeraSun Energy Corp. (NYSE: VSE) and Cosan
Limited (NYSE: CZZ).
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There is additional breaking news coming from Southridge
Enterprises, Inc. (OTCBB: SRDG), and investors are urged to
continue monitor the stock closely this morning! Early this
morning, the company issued a press release announcing that it has
established a Special Committee of Directors and initiated a
strategic review process to enhance shareholder value.
More great news for SRDG! The Special Committee is comprised of
Ken Milken, President and Chief Executive Officer, Stephen Smith,
Chief Financial Officer and Marcio Santos, Director. The process is
being undertaken in response to recent events including the current
valuation of the Company.
"Despite record revenue and strong internal growth, the
Company's shares trade at a discount to its historical valuation
benchmarks," said Mr. Milken, President and Chief Executive
Officer.
"Over the past three years, Southridge has successfully executed
an aggressive growth strategy marked by key acquisitions and new
strategic ethanol sales contracts," said Mr. Milken. "At the same
time, we have improved our financial performance. It now makes
sense to explore strategic alternatives that may enhance
shareholder value," he added.
The company also reported this week it has entered into an
ethanol sales agreement with Hong Kong based Jinsung Ho Trading
Group (JHTG) for the supply of 15 million gallons of ethanol per
year. Deliveries are expected to begin in October 2008. The ethanol
is being sourced from Petrozilian Energia SA (PES) from Brazil.
Over the last several quarters the company completed several
similar ethanol sale transactions with European based buyers.
However, this new transaction with JHTG is a direct result of our
increased exposure from the Company's market awareness program in
the Asian Pacific Rim. The Company expects this to be the second of
many purchases to come from that region.
Investors are urged to continue to monitor the progress of the
company!
The stock closed Wednesday at Four cents a share.
For a recent Wall Street News Alert's in-depth profile of
Southridge Enterprises, visit
http://www.WallStreetNewsAlert.com/HotStocks/SRDG100108/default.aspx.
Archer Daniels Midland Company (NYSE: ADM) down 2.2% on 7.2
million shares traded. Every day, the 27,000 people of Archer
Daniels Midland Company (NYSE: ADM) turn crops into renewable
products that meet the demands of a growing world. At more than 240
processing plants, we convert corn, oilseeds, wheat and cocoa into
products for food, animal feed, chemical and energy uses. We
operate the world's premier crop origination and transportation
network, connecting crops and markets in more than 60
countries.
VeraSun Energy Corp. (NYSE: VSE) down 8.6% on 1.6 million shares
traded. VeraSun Energy Corporation, headquartered in Brookings,
S.D., is a leading producer and marketer of ethanol and distillers
grains. Founded in 2001, the company has a fleet of 16 production
facilities in eight states, of which two are still under
construction. VeraSun Energy is scheduled to have an annual
production capacity of approximately 1.64 billion gallons of
ethanol and more than five million tons of distillers grains by the
end of 2008.
Cosan Limited (NYSE: CZZ) up 4.2% on 340,000 shares traded.
Cosan Limited through its subsidiaries, engages in the manufacture
and sale of sugar and ethanol primarily in Brazil. It grows and
processes sugarcane to produce standard sugars, including raw
sugar, crystal sugar, and organic sugar; and refined sugars,
including granulated refined white sugar, amorphous refined sugar,
refined sucrose liquid sugar, and refined inverted liquid sugar.
The company also produces and sells hydrous, anhydrous, and
industrial ethanol.
Market Commentary:
"The Energy Department's Energy Information Administration said
in its weekly report that crude stocks rose by 4.3 million barrels,
or 1.5 percent, to 294.5 million barrels for the week ending Sept.
26. Analysts had expected stocks to rise or fall of 1.5 million
barrels, according to a survey by energy research firm Platts,"
stated Sonja Rudd in Wall Street News Alert's daily commentary
continued at: http://www.WallStreetNewsAlert.com.
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