Yahoo Finance Today’s Research Reports on Stocks to Watch: Tempur Sealy and Upwork
NEW YORK, NY / ACCESSWIRE / October 4, 2018 / Tempur Sealy shares spiked over 10% on Wednesday on the news that rival Mattress Firm is planning on declaring bankruptcy. Shares of Upwork Inc. were also in the green, soaring over 40% as the stock had its first day trading in the market.
RDI Initiates Coverage on:
Tempur Sealy International, Inc.
https://rdinvesting.com/news/?ticker=TPX
Upwork Inc.
https://rdinvesting.com/news/?ticker=UPWK
Tempur Sealy International, Inc. shares were up nearly 11% on Wednesday on almost 2.9 million shares traded on Wednesday. The company saw its shares spike not because it had good news, but because rival Mattress Firm is planning to file for bankruptcy soon according to Reuters. Mattress Firm is the country's largest mattress retailer with about 3,000 brick-and-mortar locations. It was last year that Tempur Sealy stopped doing business with Mattress Firm, announcing in January of 2017 that it terminated the company's contracts. According to unidentified sources who spoke to Reuters, once the company declares bankruptcy, the process would be complete in just a couple of months and the company's vendors are expected to be paid in full.
Access RDI’s Tempur Sealy International, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TPX
Upwork Inc. shares closed up 41.20% on nearly 8.3 million shares traded as the company made its debut in the market. The freelance marketplace had its first day of trading on Wednesday and was priced at $15 a share with 12/48 million shares were sold. "We think the market is ready for us and we're ready for the market," CEO Stephane Kasriel said to CNBC. She added, "There is a big shift happening in the work force today. The baby boomers are retiring and are much less likely to be freelancers. Millennials are now the largest generation in the workforce, almost half of them do some form of freelancing today." Kasriel said on CNBC's "Squawk Box" ahead of the stock's debut, "We spend a lot of time figuring out how we can convince more businesses to use Upwork." She continued, "This IPO event is not about raising money. We have cash in the bank. We make more money when freelancers make more money. It's absolutely in our best interest that people are as busy as they're willing to be and earn as much per hour as they're willing to do."
Access RDI’s Upwork Inc. Research Report at:
https://rdinvesting.com/news/?ticker=UPWK
Our Actionable Research on Tempur Sealy International, Inc. (NYSE: TPX) and Upwork Inc. (UPWK) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
