SPX Corporation (NYSE:SPW), a provider of specialized engineered solutions, reported mixed Q3 financial results Wednesday, with EPS topping Street estimates by $0.24 and revenues below the analysts' consensus compiled by Capital IQ. On an adjusted basis, Q3 net income from continuing operations totaled $1.62 per diluted share, which excludes a $0.10 per share tax charge, beating the consensus of $1.38 per share. In Q3 2013, SPX Corporation (NYSE:SPW) reported adjusted net income of $1.42 per diluted share. Revenues increased 1.1% year-on-year to $1.16 billion, missing the Street consensus of $1.22 billion. The firm also boosted its FY2014 EPS range to $5.25-$5.50 from a previous range of $5.00-$5.50, versus the consensus of $5.23 per share. SPX also announced its board unanimously approved a plan to spin-off its flow business into a separate, publicly traded company. SPW shares are trading within a 52-week range of $80.50 - $111.47.STMicroelectronics NV (ADR) (NYSE:STM) reported mixed Q3 results, with earnings topping Street estimates while revenues fell short of the consensus of analysts polled by Capital IQ. On an adjusted basis, the semiconductor integrated circuits maker posted Q3 net income of $0.13 per share, up from a loss of $0.03 per share in the year-ago period and beating the consensus of $0.05 per share. Revenues fell 6.3% year-on-year to $1.89 billion mostly due to the phase-out of legacy ST-Ericsson products., missing the Street consensus of $1.93 billion."We had a solid quarter in terms of performance across a number of metrics and year-over-year improvement: from gross margin to operating margin progression and from net income to cash flow generation. At the same time, the softening of demand towards the end of the quarter, specifically in the mass market and in microcontrollers, slowed our anticipated sequential revenue progress," said ST President and CEO Carlo Bozotti. For Q4 2014, STMicroelectronics NV (ADR) (NYSE:STM) said it expects revenues to fall 3.5% on a sequential basis, "with all product groups decreasing except our Analog, MEMS and Sensors group."Waste Management, Inc. (NYSE:WM), a Houston-based waste management services provider, posted Q3 earnings that topped expectations and gave better-than-expected 2014 EPS guidance, though quarterly sales were shy of estimates. Adjusted net income was $336 million, or $0.72 per diluted share, compared to $0.65 a year ago and topping forecasts for $0.68, according to Capital IQ. Net income for Waste Management, Inc. (NYSE:WM) was $270 million, or $0.58 per diluted share, compared with $291 million, or $0.62 per diluted share, for the third quarter of 2013.Revenues for the third quarter of 2014 were $3.60 billion compared with $3.62 billion for the same 2013 period, short of expectations for $3.66 billion. "We are confident that we can meet the analysts' fourth quarter consensus of $0.60 of adjusted earnings per diluted share. That would lead to full year adjusted earnings per diluted share of $2.41, $0.06 above the high end of our previous range," the company said. For 2014 analysts are looking for $2.37.
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