On Monday, Duke Energy Corp (NYSE:DUK)’s shares declined -0.04% to $72.50.
Associates of American Electric Power, Berkshire Hathaway Energy, Duke Energy (DUK), Edison International, Eversource Energy, Exelon, Great Plains Energy, and Southern Company have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that anticipates to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As projected, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are predictable to facilitate subscribers’ ability to recover expenses.
Restoration of the transmission grid can be hampered by long lead times required to design, build and deliver critical replacement equipment counting large transformers, circuit breakers and other specialized electrical equipment. As projected, Grid Assurance will be more cost-effective than companies independently securing emergency spare equipment for high-impact, low-frequency events due to economies of scale, diversification and improved logistics.
Duke Energy Corporation, together with its auxiliaries, operates as an energy company in the United States and Latin America. It operates through three segments: Regulated Utilities, International Energy, and Commercial Power. The Regulated Utilities segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, Ohio, Kentucky, and Indiana; and transports and sells natural gas in southwestern Ohio and northern Kentucky.
Ocean Rig UDW Inc (NASDAQ:ORIG)’s shares dropped -0.49% to $6.13.
Ocean Rig UDW Inc (ORIG) declared the results of its 2015 Annual General Meeting of Shareholders.
The following proposals were approved and adopted at the Meeting:
- the election of Mr. John Liveris and Mr. Prokopios (Akis) Tsirigakis as Class B Directors of the Company to serve until the 2018 Annual General Meeting of Shareholders; and
- the approval of the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A., as the Company’s independent auditors for the fiscal year ending December 31, 2015.
Ocean Rig UDW Inc., an offshore drilling contractor, provides oilfield services for offshore oil and gas exploration, development, and production drilling. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. As of December 31, 2014, the company operated a fleet of two ultra-deepwater drilling rigs and seven drillships.
At the end of Monday’s trade, Brocade Communications Systems, Inc. (NASDAQ:BRCD)‘s shares dipped -0.36% to $12.31.
Brocade Communications Systems, Inc. (BRCD) stated financial results for its second fiscal quarter ended May 2, 2015. Brocade stated second quarter revenue of $547 million, up 2% year over year and down 5% sequentially. The Company stated GAAP diluted Earnings Per Share (EPS) of $0.18, up from a loss of $0.03 per share in Q2 2014 and down from $0.20 in Q1 2015. The Q2 2014 GAAP loss was due to a non-cash goodwill impairment charge associated with the planned repositioning of the Brocade ADX® product family. Non-GAAP diluted EPS was $0.22 for Q2 2015, up from $0.19 in Q2 2014 and down from $0.27 in Q1 2015.
Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol networking solutions for businesses and organizations worldwide. It operates through SAN Products, IP Networking Products, and Global Services segments. The SAN Products segment offers infrastructure products and solutions, such as fiber channel SAN backbones, directors, fabrics, and embedded switches that assist customers in the development and delivery of storage and server consolidation, disaster recovery and data security, and compliance issues regarding data administration; and fabric extension, switching, and routing solutions.
Centurylink Inc (NYSE:CTL), ended its Monday’s trading session with -0.58% loss, and closed at $32.37.
VanTrust Real Estate LLC has attained the twin Centurylink Inc (CTL) office buildings in Overland Park’s Interstate 435 corridor.
The buildings were put on the market late last year after CenturyLink began relocating 575 employees from the site to New Century AirCenter near Gardner.
The 14.5-acre Overland Park site southeast of I-435 and Nall Avenue comprises the 10-story, 165,023-square-foot office tower at 5454 W. 110th St. and an adjoining four-story, 67,285-square-foot building at 5440 W. 110th St.
VanTrust President Dave Harrison confirmed via email that VanTrust closed on the buildings Thursday. He was not right away accessible to talk about his company’s plans for the property. But VanTrust often buys high-quality real estate without a clear end use in mind.
CenturyLink, Inc. provides various communications services to residential, business, governmental, and wholesale customers in the United States. It operates through two segments, Business and Consumer. The company offers broadband services, which allow customers to connect to the Internet through their existing telephone lines or fiber-optic cables; private line services for transmission of large amounts of data between sites; and multi-protocol label switching, a data networking technology to support real-time voice and video.
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