FINWIRES · TerminalLIVE
FINWIRES

$SGI

14 stories mentioning SGI

Every FINWIRES story that references SGI, newest first.

Mattress Firm Parent Somnigroup to Gain Market Share From Sleep Number's Potential Bankruptcy, UBS Says
US Markets

Mattress Firm Parent Somnigroup to Gain Market Share From Sleep Number's Potential Bankruptcy, UBS Says

Somnigroup (SGI) is expected to expand market share if mattress maker Sleep Number (SNBR) files for bankruptcy and closes underperforming stores, UBS Securities said in a note emailed Friday.Sleep Number is preparing to initiate a bankruptcy process, The Wall Street Journal reported Wednesday, citing people familiar with the matter.Its shares plunged nearly 16% that day, and another 67% on Thursday. They were up 47% in Friday afternoon trade.The company said in March that it engaged Guggenheim Securities to improve its liquidity and balance sheet. Sleep Number has been executing a turnaround strategy aimed at reigniting growth and increasing financial resilience.Sleep Number's revenue declined 16% year on year in 2025, while its net loss ballooned to $132 million from $20 million in 2024, according to its March statement."We think (Somnigroup) could capture meaningful market share over the next few years," UBS analysts wrote, penciling in about 100 to 300 store closures by Sleep Number.About 200 closures could generate $120 million in sales for Mattress Firm parent Somnigroup, increasing earnings per share by $0.15, according to the brokerage. Those incremental figures rise to $200 million and $0.25, respectively, assuming 300 closures.More than 95% of Sleep Number stores were situated within five miles of Mattress Firm's locations at the start of the year, UBS analysts said.Somnigroup's premium brands have a "high degree of overlap" with Sleep Number's $6,000 revenue per mattress, according to the note."We don't take this (bankruptcy news) as a negative read for industry demand over Memorial Day," UBS said. "Several retailers (at a recent furniture and bedding conference) indicated healthy bedding sales over the key holiday period. Several also noted that rainy weather over the long weekend in certain parts of the country was a positive traffic driver."Price: $0.55, Change: $+0.20, Percent Change: +56.98%

$SGI$SNBR
Sectors

Sector Update: Consumer Stocks Advance Premarket Thursday

Consumer stocks were advancing premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 1.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 1% higher.Amazon.com (AMZN) shares were up more than 1% after the company said it will invest over 10 billion euros ($11.63 billion) to upgrade European fulfillment centers with new robotics while adding 25,000 regional positions.Global-e (GLBE) stock was up more than 2% after the company said its board has approved a new share repurchase program to buy back up to $500 million of its ordinary stock.Somnigroup International (SGI) shares were up more than 1% after the company said the mandatory 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its planned merger with Leggett & Platt (LEG) has expired.

$AMZN$GLBE$LEG$SGI$XLP$XLY
Insider Trading

Somnigroup International Insider Sold Shares Worth $445,539, According to a Recent SEC Filing

Steven H Rusing, President & CEO, Mattress Firm, on May 22, 2026, sold 6,657 shares in Somnigroup International (SGI) for $445,539. Following the Form 4 filing with the SEC, Rusing has control over a total of 322,060 common shares of the company, with 299,660 shares held directly and 22,400 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1206264/000142856326000007/xslF345X05/wk-form4_1779825762.xml

$SGI
Research

Research Alert: CFRA Keeps Hold View On Shares Of Somnigroup International

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target from $100 to $80, based on a 25x multiple applied to our updated 2026 EPS estimate of $3.19. While this multiple represents a premium to historical averages, we believe it is justified by the company's transformation into a vertically integrated leader with both a clear structural growth path and cyclical upside. Structurally, the company's M&A strategy provides a defined path to over $325 million in run-rate EBITDA synergies while de-risking the business model, as 65% of sales are now direct-to-consumer. Cyclically, with the bedding industry operating at trough volumes, SGI's significant operating leverage positions it to capture oversized profit growth during an eventual market recovery. Reflecting a more cautious view on near-term margin expansion as a result of higher input costs and a more cautious consumer, we reduce our 2026 EPS estimate from $3.34 to $3.19 and our 2027 EPS forecast from $3.98 to $3.89.

$SGI
Wire

UBS Adjusts Price Target on Somnigroup International to $105 From $110, Maintains Buy Rating

Somnigroup International (SGI) has an average rating of buy and mean price target of $98.88, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $69.52, Change: $-1.15, Percent Change: -1.63%

$SGI
Research

Research Alert: Sgi Q1: Synergy Execution Drives Eps Beat, Offsetting Margin And Revenue

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SGI's Q1 revenue of $1.802B fell short of expectations, marking the fourth consecutive quarterly top-line miss since Q1 2025. Adjusted EPS of $0.59 beat expectations despite the revenue shortfall, driven by diverging segment performance. The Tempur Sealy North America segment delivered a remarkable 710-bp operating margin expansion to 24.3%, while Mattress Firm experienced significant pressure with gross margin declining 360 bps to 4.9% due to promotional spending. Management reaffirmed full-year 2026 adjusted EPS guidance of $3.00-$3.40, signaling confidence in achieving annual targets through continued synergy realization. The definitive agreement to acquire Leggett & Platt aims to deepen vertical integration and unlock further value, though it introduces execution risk while finalizing the Mattress Firm integration. We expect the bedding market to remain choppy, with underlying consumer trends showing value-oriented behavior primarily during promotional events.

$SGI
Wire

UBS Adjusts Price Target on Somnigroup International to $110 From $115, Maintains Buy Rating

Somnigroup International Inc. (SGI) has an average rating of buy and mean price target of $101.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $75.81, Change: $+0.63, Percent Change: +0.84%

$SGI
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.5%.In corporate news, Williams-Sonoma (WSM) shares rose 2.2% after Goldman Sachs upgraded the stock to buy from neutral and raised its price target to $218 per share from $185.Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares fell 1%.Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.1%, and Leggett & Platt jumped 12%.Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 0.7%.

$LEG$LULU$SGI$TSLA$WSM
Sectors

Sector Update: Consumer Stocks Mixed Monday Afternoon

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.6%.In corporate news, Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares were fractionally lower.Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.8%, and Leggett & Platt jumped 13%.Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 1.5%.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported. The fast food giant's shares were down 0.5%.

$LEG$LULU$MCD$SGI$TSLA
Sectors

Sector Update: Consumer

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In corporate news, Somnigroup International (SGI) on Monday agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 3%, and Leggett & Platt jumped 14%.

$LEG$SGI
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Trump Prepares to Block Strait of Hormuz

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Monday's premarket activity after US President Donald Trump said the US will block the Strait of Hormuz following unsuccessful negotiations with Iran over the weekend.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 1%, and Nasdaq futures retreating 0.7% before the start of regular trading.The existing home sales data for March will be released at 10 am ET.Federal Reserve Governor Stephen Miran is slated to speak on Monday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.2% lower, Ether ETF (EETH) retreated 3.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was down 0.7%.Spyre Therapeutics (SYRE) stock was up more than 24% premarket after the company said that its SPY001 investigational drug to treat moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.5%. The iShares US Consumer Staples ETF (IYK) was up 0.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.Leggett & Platt (LEG) shares were up more than 8% pre-bell after Somnigroup International (SGI) agreed to acquire Leggett & Platt in an all-stock deal valued at about $2.50 billion. Somnigroup stock was down 1.7% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.8% lower, while the iShares Semiconductor ETF (SOXX) declined by 1%.ON Semiconductor (ON) shares were up more than 3% in premarket activity after BofA Securities upgraded the company's stock to buy from neutral.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell by 1%. Direxion Daily Financial Bull 3X Shares (FAS) declined by 2.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.9% higher.Lloyds Banking Group (LYG) shares were down more than 2% pre-bell after the company said it is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.7%, while the Vanguard Industrials Index Fund (VIS) fell 0.8% and the iShares US Industrials ETF (IYJ) was 0.4% lower.MDA Space (MDA) stock was up more than 1% before the opening bell after the company introduced a space control platform aimed at helping defense organizations monitor, protect, and secure critical space infrastructure.EnergyThe iShares US Energy ETF (IYE) was up 1.7%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.9%.Baker Hughes (BKR) stock was up more than 1% before Monday's opening bell after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.CommoditiesFront-month US West Texas Intermediate crude oil rose by 8% to $104.27 per barrel on the New York Mercantile Exchange. Natural gas advanced by 2.5% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 7.4%, while the United States Natural Gas Fund (UNG) was 1.9% higher.Gold futures for May were down by 1.2% at $4,728.90 an ounce on the Comex. Silver futures fell by 3.1% to $74.11 an ounce. SPDR Gold Shares (GLD) was 1% lower, and the iShares Silver Trust (SLV) advanced by 2.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BKR$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LEG$LYG$MDA$ON$PMR$QQQ$RTH$SGI$SLV$SOXX$SPY$SYRE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Consumer Stocks Lean Lower Pre-Bell Monday

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported, citing company documents and people familiar with the matter. McDonald's shares were 0.1% lower pre-bell.JBS (JBS) has struck a new two-year collective bargaining agreement with workers at its Swift Beef plant in Colorado, according to statements on Sunday from the United Food and Commercial Workers Local 7 union and the company. JBS stock was down 0.2% premarket.

$JBS$LEG$MCD$SGI$XLP$XLY
Sectors

Sector Update: Consumer

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.

$LEG$SGI
US Markets

Somnigroup to Acquire Leggett & Platt in $2.5 Billion Deal

Somnigroup International (SGI) on Monday agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion.Shareholders of Leggett & Platt will receive 0.1455 shares of Somnigroup for each share they own in the company, the firms said in a joint statement. Leggett & Platt investors will own about 9% of the combined company.Leggett & Platt's stock jumped nearly 9% in the most recent premarket activity, while Somnigroup declined 1.7%."Leggett & Platt's strong engineering capabilities, diversified end users and cash-generating financial profile meaningfully enhance our global platform," Somnigroup Chief Executive Scott Thompson said in the statement. Somnigroup anticipates the acquisition to expand its addressable markets in bedding and provide access to non-bedding industries.The transaction, which requires approval from Leggett & Platt's shareholders and clearance from regulators, is expected to complete by the end of the year. Following completion, Leggett & Platt will operate as a separate business unit within Somnigroup and maintain its offices in Carthage, Missouri."This transaction provides Leggett & Platt shareholders with the opportunity to participate in the future growth and value creation of a leading global company on a tax deferred basis," Leggett & Platt CEO Karl Glassman said. Glassman will continue to lead Leggett & Platt after the deal closes and will assist with a transition to a new CEO of the business unit within 12 months of completion.The combined company is expected to operate 175 manufacturing facilities across 36 countries, with a global workforce of more than 36,000 employees.Somnigroup and Leggett & Platt estimate the deal to be accretive to adjusted earnings on a per-share basis before synergies in the first year after completion. The companies also expect a positive impact of $50 million on adjusted earnings before interest, taxes, depreciation, and amortization on an annual run-rate basis.In February, Leggett & Platt reported adjusted EPS of $0.22 for the fourth quarter, up from $0.21 the year before. Sales dropped 11% on a yearly basis to $938.6 million. At the time, the company said it expected adjusted EPS to be in between $1 and $1.20 and sales to be in a range of $3.8 billion to $4 billion for 2026.

$LEG$SGI