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Stock Market & Financial Investment News

News Breaks
March 27, 2013
11:16 EDTMFRM, SCSS, TPXMattress 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 27, 2015
06:53 EDTTPXTempur Sealy price target raised to $77 from $68 at Piper Jaffray
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July 22, 2015
19:02 EDTSCSSOn The Fly: After Hours Movers
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16:09 EDTSCSSSelect Comfort backs FY15 EPS of $1.35, consensus $1.39
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16:05 EDTSCSSSelect Comfort reports Q2 EPS 21c, consensus 19c
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July 17, 2015
10:05 EDTTPXOn The Fly: Analyst Initiation Summary
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July 16, 2015
16:09 EDTTPXTempur Sealy initiated with a Hold at Cantor
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July 15, 2015
08:02 EDTMFRMSynchrony Financial, Mattress Firm partner on consumer credit card program
Synchrony Financial (SYF) and Mattress Firm (MFRM) announced a new, multi-year agreement to offer a private label credit card program for customers of Mattress Firm and its family of brands, including Sleep Train and Mattress Pro. Expected to launch in April 2016, the new credit card program will be available for online and in-store purchases at approximately 2,200 Mattress Firm, Sleep Train and Mattress Pro stores in the United States, which carry a full range of traditional and specialty mattresses, bedding accessories and top-rated products.
July 14, 2015
07:38 EDTSCSSSelect Comfort initiated with an Underperform at BofA/Merrill
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07:38 EDTMFRMMattress Firm initiated with a Buy at BofA/Merrill
Target $75.

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