SPX (SPW) Tops Q3 EPS by 24c; Ups Guidance
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Goldman Sachs Downgrades SPX Corp. (SPW) to Neutral
October 30, 2014 7:16 AM EDTGoldman Sachs downgraded SPX Corp. (NYSE: SPW) from Buy to Neutral with a price target of $100.00 (from $118.00).
Analyst Samuel H. Eisner said, "Our Buy rating was predicated on a transition towards pure play flow, moderate order growth, and operational improvements. In our view, easy-to-achieve... More
SPX Corp (SPW) to Spin-Of Flow Business
October 29, 2014 6:47 AM EDTSPX Corp (NYSE: SPW) today announced that its Board of Directors has unanimously approved a plan for a tax-free spin-off of its Flow business into a new standalone, publicly traded company. This transaction is expected to be completed within twelve months.
Upon completion of the spin-off, the Future Flow Company will be an independent, pure-play flow company providing highly engineered technologies and services to customers in global power and energy, food and beverage, and industrial markets.
Chris Kearney will serve as Chairman, President and Chief Executive Officer of the Future Flow... More
