SOURCE: Stock Market Alerts

August 18, 2010 09:45 ET

Breaking News Alert: China Logistics Group -- August 18, 2010

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Stock Market Alerts LLC

MIAMI, FL--(Marketwire - August 18, 2010) - Stock Market Alerts' performance stock list includes: China Logistics Group, Inc. (OTCBB: CHLO), OceanFreight Inc. (NASDAQ: OCNF), Norfolk Southern Corporation (NYSE: NSC) and Union Pacific Corporation (NYSE: UNP).

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This morning, China Logistics Group, Inc. (OTCBB: CHLO) issued a press release announcing its financial results for the second quarter of 2010. Highlights of the release include:

  • 2nd quarter 2010 revenue increases to $5.8 million, up 25.6% from $4.6 Million in the 2nd quarter of 2009.
  • Revenues for the six months ended June 30, 2010 reached $11.2 million, up 43.6% from $7.8 million recorded in the same period in 2009.

Commenting on China Logistics Group's financial performance, Wei Chen, its CEO and Chairman, stated, "We are pleased with our top line performance in the second quarter. We have worked very hard to increase sales in a very competitive environment and attempt to add additional customers. While this has resulted in lower gross margins we are confident that it will lead to better overall performance as the demand for logistic services in and out of China continues to grow and we intend to work diligently on behalf of our company and its shareholders."

The stock closed yesterday at around Three cents a share.

OceanFreight Inc. (NASDAQ: OCNF) up 2.9% on 240,000 shares traded.
OceanFreight Inc., is an owner and operator of both drybulk and tanker vessels that operate worldwide.

Norfolk Southern Corporation (NYSE: NSC) up 1.7% on 2.4 million shares traded.
Norfolk Southern Corporation is one of the nation's premier transportation companies.

Union Pacific Corporation (NYSE: UNP) up 2.4% on 2.5 million shares traded.
Union Pacific Corporation owns one of America's leading transportation companies.

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