More on Tempur-Pedic (TPX): Q2 beats despite the fact that profit slumped in the quarter, as the mattress maker deals with a deeply competitive climate in its North American business. Still, shares are higher in the post session as both earnings and revenue declined less than the 50% the company had predicted in a dismal forecast issued last month. The company also ups its earnings forecast for the year, now expecting to $2.80 per share, reflecting a lower share count due to recent share repurchases. Shares +8.8% AH.
Mattress stocks could get a lift after Select Comfort beats earnings estimates for Q2 and sets its full-year earnings guidance higher. The trend with mattress names has been bouncy sector-wide trading on any bit of forward-looking news. On watch: TPX +4.1% premarket, ZZ, MFRM.
Shares of Mattress Firm (MFRM -14.5%) get crushed after the company lowers its full-year revenue and same-store sales guidance. The weak sales outlook is disturbing enough, but after Mattress Firm backed its outlook just a month ago, UBS notes the creditability of management may be at issue. Sector movers: TPX -2.4%, SCSS -8.6%, ZZ -2.7%.
Mattress Firm's (MFRM) Q2 warning takes a toll on other mattress stocks. TPX -6.1%. SCSS -7.4%. The warning comes 6 weeks after Tempur Pedic cut its 2012 sales outlook, and bolsters bear arguments about weakening consumer demand. MFRM now -12.5% AH.
Mattress stocks get a boost with fresh data out showing that May bedding sales increased over 18% in May. Longbow says that the trend should continue through June and July as it backs its Buy-rated picks Tempur Pedic (TPX) and Select Comfort (SCSS). Advancers: TPX +3.9%, SCSS +4.5%, MFRM +3.1%, ZZ +1.1%.
Mattress stocks see another underperforming day after Bed Bath & Beyond's tepid guidance set the tone in the home furnishings sector. Select Comfort (SCSS -7.5%), Tempur-Pedic (TPX -5.2%), Sealy (ZZ -4.9%), and Mattress Firm (MFRM -6.6%) are all taking it on the chin as shares start to get evaluated by investors more on fundamentals than momentum.
Shares of Tempur-Pedic (TPX -4.6%) haven't found a bottom yet, even though mattress peers are moving higher: ZZ +2.5%, SCSS +2.4%, MFRM +3.6%. Analysts aren't done taking their ratings down on TPX with Piper the latest to move off its bullish call.
Analysts at both KeyBank and Suntrust
their Buy ratings on Tempur-Pedic (TPX -46.7%) after admitting they were blindsided by the company's guidance bombshell. To give credit where credit is due, last week channel checks by Barclays tipped off that a problem could be in the making.
Shares of Tempur-Pedic (TPX) stay in freefall after its earnings and sales forecast for FY12 are slashed. Amid all the backslapping for calling out the stock as an overvalued momo name, analysts warn that the company's numbers could get even worse after promotions failed to resonate and low-priced lines didn't sell. TPX -35.8% premarket.
Tempur-Pedic (TPX) cuts its guidance for FY12 EPS to $2.70, markedly lower than the consensus forecast of analysts calling for $3.93. The company says that it expects Q2 net sales to be 3-5% lower Y/Y, with North American sales down close to 8%. TPX -19.4% premarket.
Mattress stocks run hot after Piper comes out with comments tipping off that April sales numbers look strong. Gainers: Mattress Firm (MFRM) +5.7%, Select Comfort (SCSS) +6.7%, Sealy (ZZ) +5.6%, Tempur-Pedic (TPX) +6.1%.
Mattress stocks Tempur-Pedic (TPX +8.7%) and Select Comfort (SCSS +4.6%) run hot off of momentum trading not tied to any corporate news. Options watchers say that block trading at strategic breaking points is influencing the recent price swings in the stocks.
Shares of Tempur Pedic (TPX -14.1%) get crushed after chatter picks up that the stock is getting lined up as the next target of short sellers and momentum trading in the sector starts to sputter. Select Comfort (SCS -7.4%) and Mattress Firm (MFRM -8.2%) are also selling off on heavy volume.