SPX Corp. (SPW) reported third quarter EPS of $0.98 Wednesday morning, which topped the consensus estimate of $0.82. The company reduced its full year 2009 EPS forecast to between $3.80 and $4.00, from prior expectations of $4.00 to $4.30.
SPX Corp. gapped down Wednesday and fell until mid-morning, before settling into a range. The stock finished down by $6.88 at $53.82 on the highest volume in 6 months. SPX dropped to its lowest level since early August.
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