MIAMI, FL -- (Marketwire) -- 08/03/10 -- Stock Market Alerts' performance stock list includes: China Direct Industries, Inc. (NASDAQ: CDII), Arch Coal, Inc. (NYSE: ACI), Occidental Petroleum Corporation (NYSE: OXY) and EOG Resources, Inc. (NYSE: EOG).
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This morning, China Direct Industries, Inc. (NASDAQ: CDII), a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, announced that that it has signed two new clients to advisory services contracts.
China Direct Industries will provide the two companies, seeking to become publicly listed in the United States, with a variety of advisory and management services including merger analysis and implementation, evaluation of alternative financing structures and potential sources of capital. Other ongoing services to be provided include coordination of all required public disclosures, financial management and the implementation of internal controls, investor and public relations management, and translation services.
The first privately held company is a US trading company with significant coal mining concessions in Colombia and plans to acquire additional Colombian coal mines and to establish distribution relationships in China. The second privately held company is seeking to acquire a China based owner of approximately 12 private schools in China with a 2010-2011 academic enrollment of an estimated 18,000 students.
China Direct Industries is currently evaluating a number of potential opportunities to enable the two companies to become listed on a national stock exchange in the United States and has identified several potential funding sources. Management anticipates both companies will have completed all necessary audits and due diligence in the coming weeks and expects to complete evaluation of the current listing opportunities in that same timeframe.
Commenting on the contracts, Dr. James Wang, Chairman and CEO of China Direct Industries, stated, "We have been actively marketing our advisory services in China as the U.S. capital markets continue to recover. We believe our advisory services segment will make a significant contribution to our operating results in the coming quarters. Historically, our advisory services revenues vary substantially based on the timing of the transactions. We anticipate the continued expansion in the number of clients we service and the frequency of transactions in the coming years as we step up our marketing efforts in China, making this segment a strong driver for our future earnings growth along with our other China based operations."
Recently, the company also reported it has received several contracts to sell pure magnesium ingot valued at approximately $9.6 million. The contracts, call for delivery by the end of calendar year 2010, were derived through its IMG sales and marketing unit.
The stock closed at $1.19 a share a share.
For an in-depth profile of China Direct Industries, visit http://www.wallstreetenews.com/view-company-profiles.php?profile=CDII_080210.
Arch Coal, Inc. (NYSE: ACI) up 4.8% on 4.9 million shares traded.
St. Louis-based Arch Coal is the second largest U.S. coal producer.
Occidental Petroleum Corporation (NYSE: OXY) up 2.9% on 4.7 million shares traded.
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions.
EOG Resources, Inc. (NYSE: EOG) up 5.1% on 2.6 million shares traded.
EOG Resources, Inc. is one of the largest independent (non-integrated) oil and natural gas companies in the United States with proved reserves in the United States, Canada, Trinidad, the United Kingdom and China.
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