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Fly News Breaks for December 8, 2017
CONN, TPX
Dec 8, 2017 | 08:24 EDT
Wedbush analyst Seth Basham noted that news of accounting irregularities at Mattress Firm parent Steinhoff, which he views as incrementally positive for Tempur Sealy (TPX), and news that Conn's (CONN) had stopped selling its products, which he sees as incrementally negative, drove volatility in the stock this week. However, he sees neither bit of news as game-changing for Tempur Sealy. While a "fire sale" of Mattress Firm is not out of the question, it is unlikely at this time, said Basham, who keeps a Neutral rating on Tempur Sealy shares.
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