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: Tempur-Pedic International (NYSE: TPX) popped 18% in intraday trading today after the company raised expectations for both the March-ended quarter and the full year.

So what: Management expects to report first-quarter EPS of $0.67 to $0.68 and revenue of $325 million, well above the consensus forecasts of $0.58 and $291 million. For the year, it expects EPS of $2.80 to $2.95, well above the consensus forecast of $2.71, and revenue of $1.31 billion to $1.36 billion.

Now what: Tempur-Pedic has broadened its product lineup and stepped up its investment in marketing, which are contributing to the strength in sales. Manufacturing and productivity initiatives are reducing expenses and improving gross margin. The company will release first quarter financial results in detail on April 21.

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