Consumer Stocks Hit Hard in Market Selloff; Tempur Sealy Ending With Big Gain After Q3 EPS Beat

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Consumer stocks are broadly lower today with shares of consumer staple companies in the S&P 500 sinking 1.5% while shares of consumer discretionary firms in the S&P 500 are down 2.1%.

In company news, Tempur Sealy International Inc. ( TPX ) is up more than 13% shortly before the closing bell at $45.49, climbing as high as $47.37 today after the memory-foam mattress seller reported Q3 earnings and revenue that beat Wall Street expectations and reaffirmed its in-line FY13 guidance.

TPX earned $0.73 per share during Q3, ex items, beating the Capital IQ consensus by $0.05 per share. Revenue more than doubled over year-ago levels, rising 111.4% to $735.5 million and topping estimates by $26.83 million.

For FY13, TPX said it continues to see earnings of $2.25 to $2.40 per share on between $2.425 billion to $2.450 billion. The Street is looking for the company to earn $2.31 on $2.44 billion in revenue.

In other sector news,

(+) JCP, Department-store retailer says same-store sales in rose 0.9% in October, up 490 basis points from September. Sales on jcp.com increased 37.6% year over year.

(-) WFM, Q4 revenue trails estimates by 2%. The upscale grocer also lowered its guidance for FY14 EPS, revenue below consensus, upstaging a 20% increase in the quarterly dividend and a new $500 million stock buyback program.



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Referenced Stocks: TPX

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