Unusual 11 Mid-Day Movers 06/06: (SBSA) (LEE) (HOV) Higher; (TPX) (SCSS) (MFRM) Lower
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Tempur-Pedic (NYSE: TPX) 47.7% LOWER; expects net sales for the second quarter ending June 30, 2012 to be 3percent to 5 percent below last year's second quarter net sales. Based on the second quarter outlook and an updated full year review, the Company currently expects full year net sales to be approximately $1.43 billion. In addition, the Company is updating its full year earnings guidance and currently expects diluted earnings per share to be approximately $2.70. The company previously saw sales of $1.60 - $1.65 billion and EPS of $3.80 - $3.95. The Street sees revs of $1.65 and EPS of $3.93.
Spanish Broadcasting System (Nasdaq: SBSA) 22.2% HIGHER; Spanish Broadcasting seeing a bit of a relief rally after falling 53 percent since the middle of May. Some of the news may be tied to Spain/EFSF chatter.
Lee Enterprises Inc. (NYSE: LEE) 21.7% HIGHER; Warren Buffett's Berkshire Hathaway (NYSE: BRK.a) amended its 13F for the quarter ended March 31, 2012 after the close Tuesday and showed a new 1,655,125 share stake in Lee.
Hovnanian Enterprises Inc. (NYSE: HOV) 20.1% HIGHER; reported Q2 EPS of $0.02, vs. the analyst estimate of ($0.32). The company reported an after-tax loss of $0.69 per share during the same quarter last year. Revenue for the quarter came in at $341.7 million versus the consensus estimate of $298.99 million.
Select Comfort (Nasdaq: SCSS) 19.1% LOWER; the mattress sector is having a rough day amid Tempur-Pedic's warning.
Mattress Firm (Nasdaq: MFRM) 18.0% LOWER; reported Q1 EPS of $0.31, $0.06 better than the analyst estimate of $0.25. Revenue for the quarter came in at $209.8 million versus the consensus estimate of $210.75 million. Mattress Firm reaffirmed FY2012 guidance. In addition, the Company sees Q2 sales of $270 million to $275 million, which compares to the Street estimate of $277.8 million. Reaffirmed FY2012 guidance, raised EPS outlook from $1.40 to $1.48 to a range of $1.46 to $1.50.
InvenSense (Nasdaq: INVN) 17% HIGHER; stock is continuing higher after a 7 percent gain and hold above the $10 level yesterday. Shares are now over $11. Volume is very heavy today.
FuelCell Energy, Inc. (Nasdaq: FCEL) 16.3% LOWER; reported Q2 EPS of ($0.06), $0.01 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $24.2 million versus the consensus estimate of $33.54 million.
Exceed Co. (NYSE: EDS) 13.8% LOWER; continuing a volatile run which began last week. The stock rose 14 percent on Friday, another 7 percent on Monday, and then tumbled 25 percent yesterday.
Skilled Healthcare (NYSE: SKH) 12.9% HIGHER; the stock has continued higher all day after opening up just 0.5 percent. The stock seems to be holding below the $6 level this afternoon.
Iron Mountain Incorporated (NYSE: IRM) 12.3% HIGHER; has unanimously approved a plan for the company to pursue conversion to a Real Estate Investment Trust (REIT). This decision follows a thorough analysis and careful consideration of ways to maximize value through alternative financing, capital and tax strategies. Should the company be successful in the conversion process, it would plan to elect REIT status no sooner than its taxable year beginning January 1, 2014. Click here to see the full report.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Spanish Broadcasting System (Nasdaq: SBSA) 22.2% HIGHER; Spanish Broadcasting seeing a bit of a relief rally after falling 53 percent since the middle of May. Some of the news may be tied to Spain/EFSF chatter.
Lee Enterprises Inc. (NYSE: LEE) 21.7% HIGHER; Warren Buffett's Berkshire Hathaway (NYSE: BRK.a) amended its 13F for the quarter ended March 31, 2012 after the close Tuesday and showed a new 1,655,125 share stake in Lee.
Hovnanian Enterprises Inc. (NYSE: HOV) 20.1% HIGHER; reported Q2 EPS of $0.02, vs. the analyst estimate of ($0.32). The company reported an after-tax loss of $0.69 per share during the same quarter last year. Revenue for the quarter came in at $341.7 million versus the consensus estimate of $298.99 million.
Select Comfort (Nasdaq: SCSS) 19.1% LOWER; the mattress sector is having a rough day amid Tempur-Pedic's warning.
Mattress Firm (Nasdaq: MFRM) 18.0% LOWER; reported Q1 EPS of $0.31, $0.06 better than the analyst estimate of $0.25. Revenue for the quarter came in at $209.8 million versus the consensus estimate of $210.75 million. Mattress Firm reaffirmed FY2012 guidance. In addition, the Company sees Q2 sales of $270 million to $275 million, which compares to the Street estimate of $277.8 million. Reaffirmed FY2012 guidance, raised EPS outlook from $1.40 to $1.48 to a range of $1.46 to $1.50.
InvenSense (Nasdaq: INVN) 17% HIGHER; stock is continuing higher after a 7 percent gain and hold above the $10 level yesterday. Shares are now over $11. Volume is very heavy today.
FuelCell Energy, Inc. (Nasdaq: FCEL) 16.3% LOWER; reported Q2 EPS of ($0.06), $0.01 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $24.2 million versus the consensus estimate of $33.54 million.
Exceed Co. (NYSE: EDS) 13.8% LOWER; continuing a volatile run which began last week. The stock rose 14 percent on Friday, another 7 percent on Monday, and then tumbled 25 percent yesterday.
Skilled Healthcare (NYSE: SKH) 12.9% HIGHER; the stock has continued higher all day after opening up just 0.5 percent. The stock seems to be holding below the $6 level this afternoon.
Iron Mountain Incorporated (NYSE: IRM) 12.3% HIGHER; has unanimously approved a plan for the company to pursue conversion to a Real Estate Investment Trust (REIT). This decision follows a thorough analysis and careful consideration of ways to maximize value through alternative financing, capital and tax strategies. Should the company be successful in the conversion process, it would plan to elect REIT status no sooner than its taxable year beginning January 1, 2014. Click here to see the full report.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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