Any decent compiler will implement this bit manipulation if you just prepend a negation operator, i.e. -a. Anyway, you're OR-ing the bit. You should XOR it. This is what the compilers I tested it do anyway (GCC, MSVC, CLang). So just do yourself a favour and write -a
EDIT: Be aware that C doesn't enforce any specific floating point format, so any bit manipulations on non-integral C variables will eventually result in errornous behaviour.
EDIT 2 due to a comment: This is the negation code GCC emits for x86_64
.globl neg
    .type   neg, @function
neg:
.LFB4:
    .cfi_startproc
    pushq   %rbp
    .cfi_def_cfa_offset 16
    movq    %rsp, %rbp
    .cfi_offset 6, -16
    .cfi_def_cfa_register 6
    movss   %xmm0, -4(%rbp)
    movss   -4(%rbp), %xmm1
    movss   .LC0(%rip), %xmm0
    xorps   %xmm1, %xmm0  /* <----- Sign flip using XOR */
    leave
    .cfi_def_cfa 7, 8
    ret
    .cfi_endproc
.LFE4:
    .size   neg, .-neg
It should be noted that xorps is XOR designed for floatin points, taking care of special conditions. It's a SSE instruction.