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Stock Market & Financial Investment News

News Breaks
January 15, 2014
06:10 EDTMFRMMattress Firm in talks to buy Sleep Train, NY Post reports
Mattress Firm (MFRM) is in talks to buy privately-held Sleep Train, according to the New York Post. An all-stock deal could be worth "upwards" of $200M, the Post says. Reference Link
News For MFRM From The Last 14 Days
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December 1, 2015
09:22 EDTMFRMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Infoblox (BLOX), up 21.4%... Bank of Montreal (BMO), up marginally. ALSO HIGHER: Giga-tronics (GIGA), up 122.5% after entering into a software licensing agreement with Lockheed Martin (LMT)... Imprimis Pharmaceuticals (IMMY), up 11.6% following a partnership announcement with Express Scripts (ESRX)... Mattress Firm (MFRM), up 10.4% after reporting its preliminary third quarter results and Sleepy's acquisition... Qihoo 360 (QIHU), up 3% after the Wall Street Journal reported that a group is near a deal to take the company private. DOWN AFTER EARNINGS: NQ Mobile (NQ), down 16.4%. ALSO LOWER: Breitburn Energy Partners (BBEP), down 21.5% after announcing that it will suspend its distribution for common units... Rex Energy (REXX), down 8% after being downgraded to Sell from Hold at Stifel... Cummins (CMI), down 3.7% after being downgraded to Underperform from Buy at BofA/Merrill... Joy Global (JOY), down 5.7% after being downgraded to Underperform from Neutral at BofA/Merrill.
09:08 EDTMFRMMattress Firm deal creates opportunity, risk, says Wedbush
After Mattress Firm (MFRM) announced that it would acquire its privately-owned East Coast rival, Sleepy's, Wedbush says the deal could increase Mattress Frim's EPS by double digit percentage levels. However, the firm thinks this opportunity is offset by elevated leverage, execution risk, business cycle risk and more limited organic growth potential. It keeps a $50 price target and Neutral rating on Mattress Firm.
07:02 EDTMFRMMattress Firm price target raised to $55 from $47 at Piper Jaffray
Piper Jaffray analyst Peter Keith raised his price target for Mattress Firm to $55 following the announcement of the Sleepy's acquisition and positive pre-announcement of Q3. Following the acquisition, Mattress Firm will be the de facto leader in mattress retailing with greater than 20% market share, Keith tells investors in a research note. The analyst, however, has some initial concern regarding the amount of debt leverage being placed on the business. He keeps a Neutral rating on the stock.
November 30, 2015
19:17 EDTMFRMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Shoe Carnival (SCVL), up 1.4%. ALSO HIGHER: HF Financial (HFFC), up 18.6% after announcing merger agreement with Great Western Bancorp (GWB)... Mattress Firm (MFRM), up 7.1% after reporting its preliminary third quarter results and Sleepy's acquisition... Uniqure (QURE), up 2.5% after being initiated with a Buy at Janney Capital. DOWN AFTER EARNINGS: NQ Mobile (NQ), down 13.5% after reporting third quarter results and announcing that it will temporarily suspend the practice of providing revenue guidance. ALSO LOWER: Amsurg (AMSG), down after proposing an offering of 5.5M shares of common stock... Sunshine Heart (SSH), down 1.8% after announcing that its CEO David Rosa is leaving the company.
16:58 EDTMFRMMattress Firm up 8% after reporting preliminary Q3 results, Sleepy's acquisition
16:22 EDTMFRMMattress Firm to hold a conference call
CEO Stagner, President Murphy and CFO Weiss discuss the acquisition of HMK Mattress Holdings LLC, the holding company of Sleepy's, on a conference call to be held on November 30 at 5 pm. Webcast Link
16:20 EDTMFRMMattress Firm to resume trading at 4:35 pm ET
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16:10 EDTMFRMMattress Firm to acquire Sleepy's for $780M
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16:08 EDTMFRMMattress Firm backs FY15 adjusted EPS view $2.33-$2.42, consensus 2.37
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16:06 EDTMFRMMattress Firm sees Q3 adjusted EPS 80c-82c, consensus 77c
Sees Q3 revenue $699.5M, consensus $647.46M. Sees Q3 comparable store sales growth of 3.8%.

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