SOURCE: Wall Street News Alert

Wall Street News Alert

June 23, 2010 08:38 ET

Wall Street News Alert: Market Watch: 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), Duke Energy (NYSE: DUK), Apple Inc. (NASDAQ: AAPL) and Bank of America Corporation (NYSE: BAC).

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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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Duke Energy (NYSE: DUK) down 1.6% on 6.7 Million shares traded.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company and one of the largest electric power companies in the United States, supplying and delivering energy to approximately 4 million U.S. customers.

Apple Inc. (NASDAQ: AAPL) up 3% on 25.6 million shares traded.
Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications.

Bank of America Corporation (NYSE: BAC) down 1.3% on 108 million shares traded.
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Market Commentary:
The National Association of Realtors reported that sales of existing homes fell 2.2 percent in May. The report surprised analysts who thought sales would get a lift from a homebuyer tax credit. Sales fell to a seasonally adjusted annual rate of 5.66 million from a revised 5.79 million in April.

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