Diamonds and Dogs
10/24/12
Tempur Pedic International Inc. (TPX)Tempur Pedic investors won't be sleeping well tonight with the stock down 19.49% at $25.66. The mattress maker saw its shares hit rock bottom today after releasing a nightmare earnings report. Tempur Pedic reported an EPS of $0.70 which beat estimates by a penny, but was far from last year's $0.90 per share in profit. Furthermore, revenue declined 9% to $347.9 million, led downward by North America sales which declined 15%. CEO Mark Sarvary said, "Changes in the competitive environment that we experienced during the second quarter in North America continue to have an adverse impact on our third quarter performance." The company is now well below its 52-week high of $87.43.
Facebook Inc. (FB)
Facebook investors "Like" the company today with the stock up 19.03% at $23.21. The social media company saw its shares soar after a shocking mobile advertising report. Facebook reported that 14 percent or $150 million of its advertising revenue came from mobile ads, blowing away analyst estimates for mobile ad revenue. Furthermore, total advertising revenue increased 36 percent to $1.09 billion for the third quarter. Barclays Capital raised its target to $26 from $23, Jefferies & Co to $32 from $30 and Macquarie Equities Research to $24 from $21. Facebook reached its highest levels since September 19th.
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