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 Tempur-Pedic International (NYSE: TPX) popped 10% in intraday trading Friday after the mattress maker's fourth-quarter results and full-year outlook easily bested Wall Street expectations.

So what: Thanks in large part to strong domestic sales and improved margins, Tempur-Pedic's bottom line surged 59% to $0.66 per share, versus the average analyst estimate of $0.57 per share. Fueled by the growing popularity of its Cloud Collection mattress line, the results mark Tempur-Pedic's ninth consecutive expectation-topping quarter.

Now what: Tempur-Pedic might still be a decent opportunity. The shares might be rallying today, but when you factor in management's full-year guidance, Tempur-Pedic currently trades at a forward P/E of 15-ish -- right in line with close rivals Sealy (NYSE: ZZ) and Select Comfort (Nasdaq: SCSS). Of course, if Tempur-Pedic continues to gain market share like several Wall Street analysts expect, it might just be the best value of the bunch.

Interested in more info on Tempur-Pedic? 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.

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