Nov. 14, 2013, 5:57 PM
- Intrexon (XON) +4.8% AH after David Einhorn's Greenlight Capital reveals it opened a ~2.1M-share position in the biotech company that went public in August. (13F)
- Greenlight also started positions in NVR and Tempur Sealy (TPX), and added large stakes in WPX Energy (WPX) and Spirit AeroSystems (SPR); it closed positions on Oaktree Capital (OAK), State Bank Financial (STBZ) and Capital Bank Financial (CBF), while selling 20% of its shares in Rite Aid (RAD).
- Its biggest positions are still in Apple (AAPL), 21.1% of the portfolio; GM, 11.3%; and Marvell Technology (MRVL), 9.4%.
Nov. 14, 2013, 3:20 PM
- The Adivsor Shares ETF, HDGE, which seeks capital appreciation through short sales of U.S. equities, is placing a bet on the decline of Harley Davidson (HOG).
- The actively managed fund is citing the build up of inventories in dealerships, tapering of motorcycle registrations, and premium price of Harley motorcycles as solid signals for an approaching price decline.
- Current top short positions in HDGE's actively managed portfolio include Caterpillar CAT, Consolidated Communications CNSL, and Tempur Sealy International TPX.
- Other alternative strategy ETFs: HDGI, SH, RWM, DOG
Nov. 7, 2013, 1:04 PM
Nov. 6, 2013, 5:52 PM
- Tempur Sealy International (TPX) shares soar 13.4% AH after the company beat expectations in Q3. Short covering may have something to do with the outsized reaction, with short interest at 18.9% of the float as of Oct. 15.
- An 111.4% increase in net sales to $735.5M was fueled in large part to acquired Sealy's contribution of $389.9M.
- Tempur North America sales grew 0.6% to $242.4M in Q3, driven by a 4.8% increase in Other products revenue to $20.8M. Tempur International sales fell 3.6% to $103.2M.
- Gross margin fell to 40.6% from 49.2% in Q3 2012 due to the lower margins on Sealy mattresses.
- EBITDA of $115.5M was up 66.7% Y/Y.
- The company reaffirms 2013 guidance: revenue of $2.425B-$2.45B (vs. consensus of $2.44B), EBITDA of $370M-$385M, and EPS of $2.25-$2.40 ($2.32).
- PR, Conference call (webcast)
Nov. 6, 2013, 5:40 PM
Nov. 6, 2013, 4:07 PM
Oct. 17, 2013, 9:07 AM
- Mattress stocks could see some extra volatility after the meltdown of Select Comfort (SCSS) following poor Q3 results and a slash in guidance.
- In the early round of fireworks, shares of Select Comfort is off 25.5% premarket while peer Tempur Sealy (TPX) trades down 5.2%.
- On watch: Mattress Firm (MFRM)
Oct. 16, 2013, 5:35 PM
Sep. 10, 2013, 1:46 PM
- Tempur Sealy International (TPX -4.1%) trades weaker after the company's Investor Day presentation doesn't quite dazzle traders.
- Projected 2013 EPS is $2.33 which falls in the mid-point of previous guidance.
- Long-term sales projections are less rosy than previous forecasts, but the company says it expects to save +$100M annually in the long term through integration measures in warehouse, sourcing, and manufacturing.
- Presentation slides (.pdf)
Sep. 6, 2013, 9:16 AM
Jul. 25, 2013, 5:30 PM
Jul. 25, 2013, 5:27 PMTempur Sealy (TPX) falls 11.82% AH as earnings and revenue miss estimates. The integration of Sealy causes gross margin to fall to 38.6% from 50.7%. CEO Mark Sarvary says the steps the company is taking "to return Tempur North America to growth … are taking longer than expected." Management trims its FY13 outlook, saying it now sees EPS of $2.25-2.40 on sales of $2.425-2.45B versus consensus of $2.75/ share on revenue of $2.5B. (PR) | Jul. 25, 2013, 5:27 PM | Comment!
Jul. 25, 2013, 4:11 PM
Jul. 12, 2013, 6:53 AMIt's not just early access to the Thomson-Reuters/University of Michigan consumer-sentiment survey that has been available for a costly fee, it's possible to buy exclusive access to a swathe of other market-moving reports. These include: Informa Economics' $30,000-70,000 a year crop surveys; the $1,500 Bedding Barometer on mattress sales, which can affect Tempur Sealy (TPX); and the Association of Home Appliance Manufacturers' monthly shipment figures, available for $600 and relevant for GE (GE), Whirlpool (WHR) and Electrolux (ELUXF.PK). | Jul. 12, 2013, 6:53 AM | 10 Comments
Jun. 18, 2013, 11:16 AMHeard during Wal-Mart's (WMT +0.4%) presentation at the Jefferies Global Consumer Conference: 1) Sam's Club CFO Michael Dastugue notes online channels are picking up as the chain dabbles with more social media promotions. 2) On products trending well, Dastugue notes mattress sales are strong. Should Sealy (ZZ) and Tempur-Pedic (TPX) be worried with Serta and Night Therapy leading sellers at Sam's? 3) The company plans to open 15-20 new and relocated clubs during FY14. 4) New tech initiatives include self checkout kiosks, convertible registers, and scan & go testing. (webcast) | Jun. 18, 2013, 11:16 AM | Comment!
May 23, 2013, 7:14 PMTempur-Pedic International (TPX) says shareholders have approved the company's name change to Tempur Sealy International, at the company's annual meetingheld yesterday. The new name recognizes the combination of Tempur-Pedic and Sealy. The shares will continue to trade on the NYSE under the symbol "TPX." | May 23, 2013, 7:14 PM | Comment!
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