SOURCE: Wall Street News Alert

Wall Street News Alert

January 06, 2010 09:38 ET

Wall Street News Alert: Market Alert: China Infrastructure Construction -- January 6, 2010

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

WESTON, FL--(Marketwire - January 6, 2010) - Wall Street News Alert's "stocks to watch" this morning are: China Infrastructure Construction Corp. (OTCBB: CHNC), Google Inc. (NASDAQ: GOOG), Morgan Stanley (NYSE: MS) and Baker Hughes Incorporated (NYSE: BHI).

Yesterday after the markets closed, China Infrastructure Construction Corporation (OTCBB: CHNC) issued a press release announcing that it has entered into a 10-year strategic agreement with one of its major clients, China Railway Construction Group Co., Ltd. ("CRCG"). China Infrastructure Construction is one of the major U.S.-listed providers of ready-mix concrete in Beijing.

Under the Agreement, the two parties will join to produce and sell concrete in north central China's Xi'an region, and CHNC has already built and will open a new manufacturing facility there.

As of press time, a CHNC branch mixing station with an annual production capacity of 3,600,000 m3 has been set up in the city of Xi'an. The new station will be put into production in early February 2010 to supply concrete for a series of construction projects in the Xi'an region. At CHNC's historical capacity utilization rates, estimated annual sales revenue from the new Xi'an facility may reach up to $40 million.

Mr. Yang Rong, Chairman and Chief Executive Officer of CHNC, said, "We have always been successful in maintaining good relationships with our major clients. The achievement of this agreement is a validation of China Railway Construction Group's high recognition of CHNC product quality and our leading after-sales service levels. As China Railway Construction Group establishes mass-market penetration in the Xi'an region, this agreement can in turn accelerate the expansion of the CHNC business throughout northwest China."

For full details of the Agreement, please refer to the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on January 6, 2010.

The stock closed yesterday at $4.70 a share.

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Google Inc. (NASDAQ: GOOG) down 0.4% on 3 million shares traded.

Google's innovative search technologies connect millions of people around the world with information every day.

Morgan Stanley (NYSE: MS) up 3.6% on 22.5 million shares traded.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.

Baker Hughes Incorporated (NYSE: BHI) up 5.8% on 10.6 million shares traded.

Baker Hughes provides reservoir consulting, drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

Market Commentary:

Oil prices closed up 26 cents at $81.77 a barrel Tuesday, the highest settlement price on the New York Mercantile Exchange since Oct. 9, 2008. Furthermore, prices at pump jumped less than a penny overnight to $2.667 a gallon Tuesday, according to auto club AAA, Wright Express and Oil Price Information Services.

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