AmericanEnergyReport.com

AmericanEnergyReport.com

April 11, 2011 08:46 ET

Shares of General Electric Down Friday; Corning Also Down, Pfizer Up, UnionTown Energy (UTOG) Expected to Rebound Today

American Energy Report's Morning Update Features General Electric Co. (GE), Corning Inc. (GLW), Pfizer Inc., (PFE) and UnionTown Energy Inc. (UTOG).

LAS VEGAS, NEVADA--(Marketwire - April 11, 2011) -

Editors Note: There are two photos associated with this press release.

Investment Updates: This morning's focus is on General Electric (GE), Corning (GLW), Pfizer (PFE) and UnionTown Energy (UTOG). We believe a price rebound is expected in UnionTown Energy (UTOG) following Friday's correction.

General Electric (GE) is pushing into the thin film solar market. For some time, the energy giant has been evolving down an enviro-friendly path, starting with wind energy, then the smart grid and more recently led lighting and solar. GE says its new full-sized thin film solar panel is certified to be the world's most efficient thin film solar panel at 12.8 percent aperture area efficiency.

Pfizer Inc. (PFE) shares traded heavily on Friday after the firm announced it was selling Capsugel, its capsule-making business, to Kohlberg Kravis Robert & Co. (NYSE - KKR) for $2.38 billion in cash. Pfizer, which trades on the NYSE, is a research-based, global pharmaceutical company.

Corning Inc. (GLW) received a hold rating on Thursday from Citigroup (C) equities research analysts. The Citigroup analysts currently have a $25.50 price target on the stock. Zacks Investment Research analysts reiterated a "neutral" rating on Corning on Friday, March 11.

Energy News:

UnionTown Energy (UTOG) and other independent oil and gas companies are betting that tapping into America's vast shale fields will unlock bundles of cash. On Friday, UnionTown announced the completion of its previously reported acquisition of the New Miami oil and gas property in northwest Montana. Two days, earlier, the company closed its acquisition of the Musselshell property in central Montana.

UnionTown is moving aggressively to acquire Montana properties it considers to be the lowest hanging fruit in the state's abundant shale regions. Both New Miami and Musselshell were previously explored using vertical well holes and are believed to be good candidates for further exploration using new horizontal drilling technology combined with hydraulic fracturing.

The estimated recoverable oil reserve in the two properties is 12.8 million barrels.

UnionTown says the acquisitions have substantially increased its value and given it leverage to pursue future acquisitions.

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