SPX Technologies shares are trading lower after the company reported worse-than-expected Q3 revenue results and narrowed its FY24 revenue guidance.
Portfolio Pulse from Benzinga Newsdesk
SPX Technologies shares declined due to disappointing Q3 revenue results and a narrowed FY24 revenue guidance.
October 31, 2024 | 1:39 pm
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NEGATIVE IMPACT
SPX Technologies reported Q3 revenue below expectations and narrowed its FY24 revenue guidance, leading to a decline in share price.
The company's Q3 revenue results were worse than expected, which typically leads to a negative market reaction. Additionally, narrowing the FY24 revenue guidance suggests potential challenges ahead, further impacting investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100