Wednesday, September 28, 2016 9:13:10 AM
that's what I'm wondering, I haven't looked into it, but first thought was it must be way overdone selling.
their guidance must have been reduced bigly to plunge the stock 23%
EDIT:
doesn't seem to justify a 24% drop. but I only know Jack and shit
16:55 ET - Tempur Sealy (TPX) plunges in extended trading after the mattress-maker says sales in the current quarter "are below our prior expectations." Company expects full-year sales to be down 1%-3% from 2015. The revenue shortfall prompts it to lower the midpoint of its adjusted Ebitda guidance for the year by 5%. CEO Scott Thompson says "while our net sales are below expectations, our operational initiatives are going well and are continuing to drive considerable margin expansion." TPX falls 27% to $54.50 after-hours. (patrick.sheridan@wsj.com)
their guidance must have been reduced bigly to plunge the stock 23%
EDIT:
doesn't seem to justify a 24% drop. but I only know Jack and shit
16:55 ET - Tempur Sealy (TPX) plunges in extended trading after the mattress-maker says sales in the current quarter "are below our prior expectations." Company expects full-year sales to be down 1%-3% from 2015. The revenue shortfall prompts it to lower the midpoint of its adjusted Ebitda guidance for the year by 5%. CEO Scott Thompson says "while our net sales are below expectations, our operational initiatives are going well and are continuing to drive considerable margin expansion." TPX falls 27% to $54.50 after-hours. (patrick.sheridan@wsj.com)
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