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Select Comfort Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of mattress specialist Select Comfort (Nasdaq: SCSS  ) sprung 30% higher today after its quarterly results and full-year forecast easily topped Wall Street expectations.

So what: Driven by a 22% pop in revenue, Select Comfort posted a first-quarter profit of $16.6 million, or $0.30 per share, versus the average analyst estimate of just $0.19 per share. The results mark the ninth-straight market-beating quarter for Select Comfort, which is benefitting greatly from rebounding demand across the industry.

Now what: "We expect our efforts to generate strong earnings growth over the balance of the year," CEO Bill McLaughlin said. So much so, in fact, that Select Comfort upped its profit outlook for 2011 to $0.85 to $0.93 per share, well above the $0.72 per share forecast by Wall Street. Earlier this month, rival Tempur-Pedic (NYSE: TPX  ) also popped on a bouncy outlook, so the mattress space is beginning to look like a comfortable place to be.

Interested in more info on Select Comfort? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.

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Related Tickers

10/25/2016 4:00 PM
SCSS $19.51 Up +0.16 +0.83%
Select Comfort CAPS Rating: *****
TPX $51.45 Down -0.66 -1.27%
Tempur Sealy Inter… CAPS Rating: ****