Mattress Firm Holding (MFRM) reported second quarter adjusted EPS of $0.61 Thursday morning, up from $0.43 a year ago. Analysts expected EPS of $0.60.
The company also announced that it has entered into an agreement to acquire Sleep Train Inc. for an aggregate purchase price of $425 million.
Mattress Firm gapped up sharply Thursday and climbed throughout the first hour of trade, before settling into a range. Shares finished up by 5.88 at $62.69 on strong volume. The stock broke out of a 3-week range and set a new high for the year.
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