SOURCE: Wall Street News Alert

Wall Street News Alert

June 16, 2009 09:54 ET

Wall Street News Alert: Breaking Market News: CDII - June 16, 2009

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

WESTON, FL--(Marketwire - June 16, 2009) - Wall Street News Alert's "stocks to watch" this morning are: China Direct Industries, Inc. (NASDAQ: CDII), United States Steel Corporation (NYSE: X), Caterpillar Inc (NYSE: CAT) and Newmont Mining Corporation (NYSE: NEM).

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There is important breaking news coming from China Direct Industries, Inc. (NASDAQ: CDII), and investors should be monitoring the progress of the company and its developments very closely. Early this morning, the company, a U.S. owned, rapidly growing holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, issued a press release announcing that its Basic Materials segment has received several sales contracts for the delivery of various synthetic chemicals and reinforcing steel bars which have the potential to generate approximately $30.5 million in 2009.

This is great news, as according to the press release, with the addition of these sales contracts, management now believes revenue derived from its basic materials segment should improve in 2009 compared to 2008 and range between $65 and $75 million, an increase of over 25%. The contracts come as management of this segment sees improvements in its business outlook as China's economy begins to show signs of recovery.

Commenting on these sales contracts, Dr. James Wang, Chairman and CEO of China Direct Industries, stated, "We are pleased to see demand increases at our basic materials subsidiaries giving us some confidence that China's recovery is underway. We continue to anticipate a stronger second half of 2009 in this segment as conditions in China continue to improve."

Investors are urged to keep a close eye on future developments

The stock closed yesterday at $1.83 a share.

For an in-depth profile of China Direct Industries, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=CDII_060909.

United States Steel Corporation (NYSE: X) down 5.6% on 16.8 million shares traded.

United States Steel Corporation is one of the leading steel company's in the U.S.

Caterpillar Inc (NYSE: CAT) down 4.2% on 10.4 million shares traded.

Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2008 sales and revenues of $51.324 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.

Newmont Mining Corporation (NYSE: NEM) down 2.6% on 6.5 million shares traded.

Newmont Mining Corporation is one of the leading mining company's in the U.S.

Market Commentary:

Consumers are feeling the pinch at the pump, as gas prices went up nearly 17 cents over the last two weeks, according to a survey published Sunday. The average price of a gallon of self-serve regular is $2.66, the Lundberg Survey found.

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