Mon, Apr. 6, 6:59 AM
- Tempur Sealy (NYSE:TPX) releases its investor slide show.
- Says it believes, "H Partners has outlined no constructive steps to enhance the Company’s strategy, capital structure or operating plans, but rather advocates high-risk, value-destroying leadership changes."
- Previously: Tempur Sealy and H Partners continue to duel over board election (Apr. 2)
Thu, Apr. 2, 8:35 AM
- H Partners issues a recommendation to shareholders of Tempur Sealy (NYSE:TPX) to vote against the directors put up for re-election by the company.
- The activist investment firm calls out the underperformance of Tempur Sealy over the last three years under the direction of the current CEO and board.
- Tempur Sealy and H Partners have been dueling via press releases over the last month.
- The Tempur-Sealy annual meeting is set for May 8.
Mon, Mar. 23, 8:17 AM
- H Partners dials up the heat on Tempur Sealy (NYSE:TPX) in a new letter to shareholders.
- The investment firm urges a no-vote on the board election of the company's CEO, Chairman of the Board, and Chairman of the Nominating and Corporate Governance Committee due to the under-performance at the bedding seller.
- Tempur Sealy's annual meeting is scheduled for May 8.
Mon, Mar. 16, 8:00 AM
- Tempur Sealy (NYSE:TPX) issues a strong letter to shareholders ahead of the company's annual meeting and board election.
- The meeting could see activist investors push for a board seat.
- The company says it's firmly on a path to deliver 6% net sales growth between 2015 to 2018 and widen operating margins by 50 bps.
- EPS of $4.00 is expected in 2016.
- Shareholders meet on May 8.
- Previously: Activist investor dials up pressure on Tempur Sealy (Feb. 17 2015)
- SEC Form 14A
Tue, Feb. 17, 9:05 AM
- Tempur Sealy (NYSE:TPX) is on the hot seat with activist investor H Partners Management.
- The hedge funds is calling for a CEO firing and wants a seat on the board as well to help guide the company in finding a replacement for Mark Sarvary.
- H Partners holds a 10% position in TPX.
- SEC Form 13G
- TPX trades 10.3% below its 52-week high.
Fri, Feb. 6, 9:12 AM
Thu, Feb. 5, 4:28 PM
Oct. 30, 2014, 5:48 PM
Oct. 30, 2014, 4:36 PM
Aug. 11, 2014, 10:29 AM
Jul. 24, 2014, 6:01 PM
- Tempur Sealy International (TPX) Q2 results: Net Sales: $715.0M (+8.2%), Retail: $658.2M (+9.3%), Direct: $30.6M (+1.0%), Bedding: $657.4M (+9.8%); Gross Profit: $268.3M (+5.3%); Operating Income: $50.3M (+14.3%).
- Gross margin declined 2.9% yoy to 37.5% due to increased investments in new products and related marketing. CEO Mark Sarvary expects significant margin improvement in 2H.
- 2014 Guidance: net sales: $2.925B - 2.975B; adjusted EBITDA: $410M - 430M; adjusted EPS: $2.60 - 2.85.
- Shares now down 5.1% after hours.
Jul. 24, 2014, 4:26 PM
May. 2, 2014, 9:47 AM| Comment!
May. 1, 2014, 4:14 PM
Mar. 24, 2014, 7:27 PM
- As U.S. corporations sit on $1T-plus in cash and with many facing organic growth challenges, Morgan Stanley lists 44 multi-billion dollar cap companies it thinks have a high likelihood of receiving at least one tender offer over the next 12 months.
- In the energy sector: NFX, SD, TDW.
- In materials: CLF, AXLL, UFS, RGLD.
- Consumer discretionary: SBGI, WEN, TPX, EAT, BYI, DWA, JCP, AEO.
- Consumer staples: INGR, HAIN, HSH, WWAV.
- Health care: CELG, ESRX, WLP, REGN, ALXN, AET, CI, BDX, CERN.
- Financial: NSM.
- Tech: BRCD, ONNN, TIBX, SPWR, IM, JBL, SUNE, TER, ARRS, NSR.
- Telecom: CCI, SBAC, LVLT, WIN, FTR.
Feb. 18, 2014, 10:23 AM
- Tempur Sealy International (TPX +2%) looks poised for accelerating sales in Europe, predicts Piper Jaffray.
- Piper also sees momentum in the U.S. as new product line from Tempur resonate with consumers in H2.
- The investment firm shifts its rating on TPX to Overweight from Neutral and boosts its price target to $56.
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