UPDATE: Spectra Energy Posts Higher Q4 Profit

Spectra Energy SE reported an 11% gain in its fourth-quarter profit. Spectra Energy's quarterly profit surged to $236 million, or $0.35 per share, from a year-ago profit of $213 million, or $0.32 per share. Excluding special items, its ongoing earnings came in at $0.41 per share. Its operating revenue climbed 16% to $1.57 billion. However, analysts were expecting earnings of $0.38 per share on revenue of $1.48 billion. Spectra Energy shares closed at $35.34 yesterday.