SOURCE: Wall Street News Alert

Wall Street News Alert

June 23, 2010 09:38 ET

Wall Street News Alert: Breaking News: FDEI - June 23, 2010

WESTON, FL--(Marketwire - June 23, 2010) -  Wall Street News Alert's "stocks to watch" this morning are: Fidelis Energy Inc. (PINKSHEETS: FDEI), GE (NYSE: GE), Chevron Corporation (NYSE: CVX) and Pfizer Inc. (NYSE: PFE).

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Yesterday after the markets closed Fidelis Energy Inc. (PINKSHEETS: FDEI) issued a press release announcing that it has entered into a long-term solar module supply agreement with Lagofrio Energy Solutions (LES), a wholly-owned subsidiary of TinSol Energy (pty) Ltd. (TSEL), Johannesburg, South Africa.

The press release stated that under the terms of the contract, Fidelis Energy will supply 93 megawatts (MW) of PV Solar modules to TSEL for use in the development and build-out of several solar parks in Africa. Fidelis will begin shipments against this contract during the first quarter of 2011. Product will ship from the Fidelis module plant in China, scheduled to come online during the fourth quarter of 2010.

Mr. Wes L. Volker, Managing Director of TSEL, commented: "We selected Fidelis as our partner for these large installations due to the benefits of the Solar Cell technology owned by Fidelis, particularly its very competitive cost and excellent performance. We look forward to a long and prosperous relationship with Fidelis as we grow our energy business in Africa."

"We are very pleased to have secured another large capacity contract for Fidelis Energy," stated Mr. James Poole, CEO of Fidelis Energy. "This second deal with TSEL validates our ever improving position in the international solar market. Along with the substantial investment commitment we secured in February, additional large megawatt capacity agreements are under negotiation that will facilitate Fidelis to command a leadership position in the high growth solar market. We are extremely pleased to be working closely with TinSol Energy (pty) Ltd. to accelerate our growth in Africa." Mr. Poole added, "The environmental benefits of solar energy are critical to addressing the global warming challenge facing all of us. The electricity generated as a result of the deployment and use of the PV modules we will sell to TSEL will avoid the annual emission of nearly 600,000 metric tons of CO2 that would result if the electricity were generated by coal-fired power plants." Fidelis Energy announced up to $80 million of new financing in February 2010, for the purpose of expanding its photovoltaic manufacturing capacity. The Company plans to expand its annual manufacturing capacity by approximately 150 MW in each of the next several years.

The stock closed yesterday at around a Penny a share.

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GE (NYSE: GE) down 1.93% on 64.9 million shares traded
GE is a diversified infrastructure, finance and media company taking on the world's toughest challenges.

Chevron Corporation (NYSE: CVX) down 2.2% on 10.5 million shares traded.
Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company's success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world.

Pfizer Inc. (NYSE: PFE) down 0.86% on 43.8 million shares traded.
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life.

Market Commentary:
Retail gasoline prices edged lower overnight, falling 0.5 cent to a national average of $2.732 per gallon, according to AAA, Wright Express and Oil Price Information Service. Pump prices are now 3.6 cents per gallon higher than a week ago and 6.9 cents lower than a month ago. They were 4.2 cents lower a year ago.

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