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


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 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: TPX

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

What to Wear to a Wedding
What to Wear to a Wedding           
4th of July Outfits
4th of July Outfits                 




Most Active by Volume

  • $17.03 ▼ 1.10%
  • $30.555 ▲ 1.24%
  • $126.44 ▼ 0.13%
  • $40.59 ▼ 6.26%
  • $19.07 ▲ 1.54%
  • $26.78 ▲ 0.45%
  • $5.85 ▲ 1.56%
  • $8.83 ▲ 2.08%
As of 7/2/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by