SPXC Soars 3.58% on Acquisition, Earnings Beat
Monday, May 12, 2025 6:38 pm ET
16min read SPX Technologies(SPXC) shares surged 3.58% today, reaching their highest level since February 2025 with an intraday gain of 4.82%.
The strategy of buying SPXC shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 7.4% annualized gain. This result suggests that the strategy captured some of the subsequent price appreciation, but the overall performance was somewhat muted due to the volatility inherent in the stock's high-point buying habit.SPX Technologies recently completed a significant acquisition of Sigma Heating and Cooling/Omega Heat Pump for approximately $144 million. This strategic move is expected to enhance the company's market presence and operational capabilities, potentially driving stock price growth.
In addition to the acquisition, SPX Technologies reported strong Q1 earnings and revenues that exceeded market estimates. This positive financial performance has bolstered investor confidence, contributing to the upward trend in the stock price.
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