Sleep Number stock rallies 13% after company beats earnings views

Shares of Sleep Number Corp. rallied more than 13% in the extended session Thursday after the mattress maker reported better-than-expected quarterly earnings and tweaked higher its profit outlook for the year. Sleep Number said it earned $4.3 million, or 14 cents a share, in the quarter, compared with 10 cents a share in the year-ago period. Net sales rose 13% to $356 million, Sleep Number said. Analysts polled by FactSet had expected the company to earn 3 cents a share on sales of $336 million. The company updated its outlook for 2019 per-share earnings to a range between $2.35 and $2.75, compared to a previous range between $2.25 and $2.75. Shares of Sleep Number had ended the regular trading day up 0.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.