SOURCE: Wall Street News Alert

Wall Street News Alert

November 03, 2009 08:38 ET

Wall Street News Alert: Breaking News: Navajo Wind Energy - November 3, 2009

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL--(Marketwire - November 3, 2009) - Wall Street News Alert's "stocks to watch" this morning are: Navajo Wind Energy Corp. (PINKSHEETS: CLBN), Ford Motor Company (NYSE: F), Trina Solar Limited (NYSE: TSL) and Apache Corporation (NYSE: APA).

Yesterday after the markets closed, Navajo Wind Energy Corp. (formerly Caliber Energy Inc) (PINKSHEETS: CLBN) issued a press release announcing the completion of the third tranche of its previously announced $50 million financing. Navajo Wind Energy is a renewable energy company focused on creating electricity from the power of wind.

Navajo will receive gross proceeds of $15 million for the issuance of a promissory note, which is subject to a hold period of two years plus one day from the date of issuance in accordance with the agreement. The funding is expected to be received on November 16, 2009, with the net proceeds of the third tranche being approximately $13.8 million after deducting the placement agents' fees and estimated offering expenses.

Navajo will allocate $13,500,000 of the net proceeds to fund the previously announced acquisition of 200 MW Xinjiang Wind Farm Project ("Xinjiang"), see press release of February 25, 2009. The remaining funds will be used as working capital for the Company. To date the Company has received $18.4 million of which $18 million have been used to fund the 200 MW Xinjiang Wind Farm Project.

The stock closed yesterday at over a Penny a share.

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Ford Motor Company (NYSE: F) up 8.2% on 208.3 million shares traded. Ford Motor Company, one of the global automotive industry leaders, based in Dearborn, Mich., manufactures or distributes automobiles across six continents.

Trina Solar Limited (NYSE: TSL) up 5.2% on 1.3 million shares traded. Trina Solar Limited is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company.

Apache Corporation (NYSE: APA) up 1.4% on 3.7 million shares traded. Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina.

Market Commentary:

The Institute for Supply Management said its index of national factory activity rose to 55.7 in October from 52.6 in September. The median forecast of 74 economists surveyed by Reuters was for a reading of 53.

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