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Stock Market & Financial Investment News

News Breaks
March 27, 2013
11:16 EDTTPX, SCSS, MFRMMattress makers climb after retailer reports Q4 results
Shares of mattress makers Tempur-Pedic (TPX) and Select Comfort (SCSS) are advancing after mattress retailer Mattress Firm (MFRM) reported weaker than expected Q4 results but provided higher than expected revenue guidance for fiscal 2013. WHAT'S NEW: Retailer Mattress Firm said that it expected its fiscal 2013 revenue to be $1.237B-$1.25B, versus analysts' consensus estimate of $1.21B. The company reported that its revenue in its fiscal fourth quarter jumped 37% year-over-year to $258.2M, but that was below analysts' consensus estimate of $251.54M. Mattress Firm's revenue was boosted by sales at newly acquired stores, as its sales at comparable stores dropped 1.6%. "Looking to 2013...we expect to drive sales and operating margin expansion from the ongoing sales growth of acquired stores, which will be enhanced as we pass the anniversary dates of our 2012 acquisitions," said Mattress Firm CEO Steve Stagner. Mattress Firm's fourth quarter earnings per share, excluding acquisition charges and other one-time expenses, came in below analysts' consensus estimates, as did its fiscal 2013 earnings per share guidance. ANALYST REACTION: Several analysts reacted positively to Mattress Firm's guidance in notes to clients earlier today. Research firm Raymond James upgraded the stock to Outperform from Market Perform, while Citigroup wrote that the company's sales growth should accelerate as mattress prices are continuing to increase. TODAY'S PRICE ACTION: In mid-morning trading, Tempur-Pedic climbed 6.3% to $49.80, Select Comfort advanced 2.7% to $19.50, and Mattress Firm jumped 8.9% to $33.75.
News For TPX;SCSS;MFRM From The Last 14 Days
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July 24, 2014
16:44 EDTTPXTempur Sealy sees 2014 adjusted EPS $2.60-$2.85, consensus $2.78
Sees 2014 revenue $2.925B-$2.975B, consensus $2.89B.
16:43 EDTTPXTempur Sealy reports Q2 adjusted EPS 39c, consensus 41c
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July 21, 2014
09:46 EDTMFRMMattress Firm management to meet with Jefferies
Meeting to be held in Las Vegas on July 28 hosted by Jefferies.
July 16, 2014
18:26 EDTSCSSOn The Fly: After Hours Movers
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16:50 EDTSCSSSelect Comfort rallies strongly after earnings and guidance
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16:04 EDTSCSSSelect Comfort backs 2014 EPS view $1.07, consensus $1.10
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16:03 EDTSCSSSelect Comfort reports Q2 EPS 16c, consensus 14c
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July 15, 2014
09:02 EDTTPXTempur Sealy announces agreement with the PGA TOUR
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