SPX Corp. (SPW) reported first quarter earnings per share from continuing operations $0.20 Wednesday morning, which fell short of the consensus estimate of $0.26. The company now expects to report full year 2013 earnings per share from continuing operations of $4.25 to $4.65, lower than its prior estimate of $4.60 to $5.10. The consensus estimate is for EPS of $4.93.
SPX gapped open sharply lower Wednesday and dipped further in early trade, before settling into a narrow range. The stock ended the day lower by 6.25 at $68.26 on above average volume. SPX dropped to a 4-month low and fell below its 200-day moving average.
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