Major Movers: Spectra Energy (SE), Eli Lilly and Co (LLY), Sino-Global Shipping America (SINO), Digital Power (DPW)

Denver, CO, 09/16/2014, ( – Spectra Energy Corp. (NYSE:SE), Spectra Energy Partners (NYSE:SEP) and Northeast Utilities (NYSE:NU) announced the details of their natural gas project known as Access Northeast. The project aims to meet the increasing demand for natural gas in New England. The companies said the project will guarantee daily natural gas supplies to consumers and electric generation plants. Access Northeast project is expected to commence operations by November 2018 and is estimated to cost $3 billion. Spectra Energy Corp. (NYSE:SE) and Northeast Utilities (NYSE: NU) will be equal joint owners in the natural gas project, but there would be room to admit other interested investors.

Eli Lilly and Co (NYSE:LLY) and AstraZeneca plc (ADR) (NYSE:AZN) have entered into a collaborative arrangement to co-develop a treatment for Alzheimer’s disease. The agreement involves co-developing and commercializing of AZD3293. The terms of the deal require LLY to pay up to $500 million to AstraZeneca in various milestone payments. As such, Eli Lilly and Co (NYSE:LLY) plans to enter $50 million in a pretax charge or $0.03 a share in after-tax charge in its 3Q2014 earnings.

Sino-Global Shipping America, Ltd. (NASDAQ:SINO) reported more than 452% increase in its 4Q2014 revenue on YoY basis. As such, the company reported revenue of $3.8 million for the quarter. The $8.4 million shipping agency service provider also reported improvement in its bottom line. It reported earnings of $0.10 a share, better than a loss of $0.30 a share in the same period a year ago. Earnings also increased 42.9% from the previous quarter.

Digital Power Corporation (NYSEMKT:DPW) said it recently received two contracts. One of the contracts involves a custom switching solution for cloud-based data centers. The other contract involves custom power solutions for cable TV router and gateway nodes. Digital Power Corporation (NYSEMKT:DPW) said that the contracts could fetch it an average of $1.3 million in revenue in a period of five years based on the current purchase forecasts. However, it said the customers may adjust their purchase forecasts in the future.

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Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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