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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. 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| 1 Comment
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)
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) | Comment!
Mar. 27, 2013, 10:03 AMMattress stocks in focus: Tempur Pedic (TPX +3.6%) trades higher after Mattress Firm (MFRM +6.7%) misses estimates with its Q4 earnings report and issues relatively in-line guidance. Though Raymond James is out with a defense on Mattress Firm, the momentum rally in the sector looks a bit overdone to some traders. | 1 Comment
Mar. 22, 2013, 8:18 AM
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