Securities and Exchange Commission
                             Washington, D.C. 20549



                                    FORM 8-K



                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934




                         Date of Report: August 14, 1998




                                 SPX Corporation
               (Exact name of registrant as specified in charter)



   Delaware                   1-6948                    38-1016240
   (State or other            (Commission               (I.R.S. Employer
    Jurisdiction of            File Number               Identification
    Incorporation)                                       Number)


   700 Terrace Point Drive, Muskegon, Michigan 49443-3301
   (Address of principal executive offices)             (Zip Code)


   Registrant's telephone number, including area code:
   (616) 724-5000






Item 5. Other Events

Contact:  Charles A. Bowman
            616-724-5194
            E-mail:  investor@spx.com

         SPX Comfortable with Analysts' Composite Estimate for 1999

     MUSKEGON,  MI -  August  14,  1998 -  Today,  John B.  Blystone,  Chairman,
President and CEO of SPX  Corporation  (NYSE:SPW) and Patrick J. O'Leary,  Chief
Financial Officer of SPX, in a meeting with securities  analysts  expressed that
SPX is comfortable with the composite  securities  analysts'  earnings per share
estimate  of  approximately  $4.85 per share  (diluted)  for 1999.  This  amount
presumes that the merger with General Signal  (NYSE:GSX) is consummated early in
the  fourth  quarter of 1998.  This  figure  also does not take into  effect any
charges or gains that may occur as a result of integrating or restructuring  the
businesses of the combined  company,  any acquisitions or  divestitures,  or any
other non-recurring or unusual events.

Forward-Looking Statements

     The above paragraph  contains  information that is  forward-looking  and is
thus  prospective.   This   forward-looking   statement  is  subject  to  risks,
uncertainties  and other  factors  which  could cause  actual  results to differ
materially  from  future  results  expressed  or implied by the  forward-looking
statement.  More information  regarding such risks can be found in the Company's
quarterly and annual SEC filings, the Company's  Registration  Statement on Form
S-4 filed on August 7,  1998,  and  General  Signal's  quarterly  and annual SEC
filings.









                                   SIGNATURES


     Pursuant to the  requirement  of the  Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                 SPX CORPORATION
                                  (registrant)



Dated:  August 14, 1998             By: /s/ Patrick J. O'Leary
                                       -----------------------
                                            Patrick J. O'Leary
                                            Senior Vice President, Finance,
                                            and Chief Financial Officer