Euro Debt Worries Drag Stocks Lower. Mattress Firm Holding Corp. Helped Push Mattress Companies Higher
NEW YORK, March 28, 2013 /PRNewswire/ --
Stocks dropped on Wednesday as continued worries over Europe and Cyprus restoring confidence in its banking system lingered. On Tuesday Mattress Firm forecasted solid results for fiscal 2013 and closed in the green up 12.09%. The stock pushed other mattress companies including Select Comfort Corp. and Tempur-Pedic International Inc. higher as well on Wednesday.
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Tempur-Pedic International Inc. (NYSE: TPX) - TPX shares closed up 6.96% at $50.07 yesterday. The Company announced on Tuesday it is redeeming more than $500 million in notes held by recently acquired Sealy Inc.
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Aastrom Biosciences, Inc. (Nasdaq: ASTM) - Shares of ASTM sank on Wednesday to a new 52-week low after ending a drug trial and cutting half its workforce. The stock closed down 38.25% Yesterday.
Cliffs Natural Resources Inc. (NYSE: CLF) - CLF sank to 4 year lows on significantly high volume. In intra-day trading the stock went as low as $17. 95. Morgan Stanley cut the Company to "underweight" from "equal weight,"
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Comstock Holding Companies, Inc. (Nasdaq: CHCI) - CHCI shares soared to new 52-week high yesterday after forecasting significant increase in revenues for 2013. In intra-day trading shares hit as high as $1.96.
Revolution Lighting Technologies, Inc. (Nasdaq: RVLT) - RVLT hit a new 52-week high of $2.50 after announcing that they have produced a breakthrough product in the tube lighting market. Shares closed up 26.95% on Wednesday.
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