Wall Street News Alert's "stocks to watch" this morning are: Navajo
Wind Energy Corp. (PINKSHEETS: CLBN), Exxon Mobil Corporation
(NYSE: XOM), BB&T Corporation (NYSE: BBT) and SunPower Corp.
(NASDAQ: SPWRA).
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With breaking news just released, Navajo Wind Energy Corp.
(formerly Caliber Energy Inc.) (PINKSHEETS: CLBN) should have
investors watching closely. Yesterday at the close, the company, a
renewable energy company focused on creating electricity from the
power of wind, issued a press release announcing that it has
received a letter of final approval from the local regional Mayor
for the Xinjiang Power Purchase Agreement (PPA).
As per China's Renewable Energy Law, the Power Purchase
Agreement with the local utility is mandated by the central
Government of China. Through this legislation, the State officially
encourages the construction of renewable energy power facilities.
China's electricity grid is obligated to purchase all the
electricity generated by approved renewable energy facilities
located in its service area. The grid's buying price for renewables
is set by the National Development and Reform Commission (NDRC), a
regulatory department of the State Council. The company awaits
final pricing and terms from the NDRC.
Navajo is extremely pleased with this development and is assured
that the Company will have this long awaited news from the Province
before September, along with a wind farm construction permit.
"We would like to thank everyone involved in this project for
all of their hard work in attaining this tremendous
accomplishment," says Barry Doyle, President of Navajo Wind Energy
Corp. The details of the PPA will be formally announced within the
next few weeks with terms, conditions and pricing.
In addition, the Company looks forward to finalizing the current
information with the Pink Sheets OTC disclosure and news
service.
The stock closed yesterday at around a Penny a share.
For an in-depth profile of Navajo Wind Energy, visit
http://wallstreetnewsalert.com/view-company-profiles.php?profile=CLBN_051109.
Exxon Mobil Corporation (NYSE: XOM) down 2.1% on 23.7 million
shares traded.
Exxon Mobil Corporation is one of the leading international
energy companies whose subsidiaries have operations in most of the
world's countries.
BB&T Corporation (NYSE: BBT) down 7.5% on 17.4 million
shares traded.
BB&T Corporation is the nation's 11th largest financial
holding company.
SunPower Corp. (NASDAQ: SPWRA) down 4.5% on 1.6 million shares
traded.
SunPower Corp. is a Silicon Valley-based provider of high
efficiency solar cells, solar panels, and solar systems.
Market Commentary:
Prices at the pump continued to trek higher Monday, moving up
1.3 cents to a national average of $2.226 a gallon, according to
auto club AAA, Wright Express and Oil Price Information Service.
Prices are 17.4 cents higher than last week.
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