WESTON, FL -- (MARKET WIRE) -- 03/19/08 -- Wall Street News Alert's "stocks to watch" this morning are: Nitro Petroleum, Inc. (OTCBB: NTRO), Freddie Mac (NYSE: FRE), Occidental Petroleum Corporation (NYSE: OXY) and Applied Materials, Inc. (NASDAQ: AMAT).

There is important news coming from Nitro Petroleum, Inc. (OTCBB: NTRO), and the company continues to be a "must see" for investors. Yesterday after the markets closed, the company issued a press release announcing that it has received an irrevocable letter of intent from the major shareholder of the company whereby 100,000,000 restricted shares will be returned to the company for cancellation.

This is good news for the company! According to the release, this would represent a two thirds reduction in outstanding shares. The cancellation is subject to regulatory approval. The corporate attorney has been instructed to proceed with the necessary submissions for the share cancellation process.

Larry Wise, President of Nitro, explains that the offer to cancel this stock is a major step for Nitro whereby potential financing opportunities are significantly enhanced to fund future oil and gas resource acquisitions and development.

Investors are urged to continue to monitor the progress of the company! Last week, Larry Wise, President of Nitro Petroleum, Inc., announced that Nitro has entered into negotiations and has prepared a letter of intent for the new drilling project in Pottawatomie County with Toro Ventures Inc. of Seattle, Washington.

The stock closed Tuesday at Twenty Six cents a share.

For Wall Street News Alert's in-depth profile of Nitro Petroleum, Inc., visit http://www.WallStreetNewsAlert.com/HotStocks/NTRO031808/default.aspx.

In case you are not familiar with the company: Nitro's objective is to seek out and develop opportunities in the Oil and Natural Gas sectors that represent a low risk opportunity. As well, Nitro aims to define larger projects that can be developed with Joint Venture partners. Nitro is confident that these viable opportunities exist in a sector that holds long-term fundamental strength.

Nitro intends to exploit energy exploration opportunities through various partnerships available throughout the Southern United States and in doing so build significant Oil and Natural Gas reserves and capital appreciation to its shareholders.

Freddie Mac (NYSE: FRE) up 26.1% on 33.9 million shares traded.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing.

Occidental Petroleum Corporation (NYSE: OXY) up 4.6% on 7.2 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.

Applied Materials, Inc. (NASDAQ: AMAT) up 4.1% on 36.5 million shares traded.

Applied Materials, Inc. is the global leader in Nanomanufacturing Technology(TM) solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass.

Market Commentary:

"Stocks soared on Tuesday as stronger-than-expected earnings from two big investment banks, together with the Federal Reserve's decision to cut interest rates by three-quarters of a percentage point, sent the Dow Jones industrial average up 420 points, its biggest one-day point gain in more than five years," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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