Tempur Sealy (TPX), GrubHub (GRUB), United States Steel Corporation (X) Among Top Weekly Gainers

Peaceful Sleep Ahead for Tempur Sealy Shareholders After Big Quarter

Tempur Sealy International Inc (NYSE:TPX) gained over 23% last week after its second quarter results dwarfed estimates, finishing off an impressive July in which the stock gained nearly 37%. Revenue of $804.4 million topped estimates by $19 million and was $40 million higher than a year earlier, while operating income rose by 92% year-over-year. Adjusted EPS of $0.92 routed estimates by $0.23 and was up by 38.1% year-over-year. After having bought back 4.4 million shares since early-February, Tempur Sealy also expanded its share repurchase program by an additional $200 million.

32% of Tempur Sealy International Inc (NYSE:TPX)’s outstanding shares were held by the hedge funds in our database on March 31. Overall, 33 of those hedge funds were long the stock.

Alimera Sciences Blows Away Estimates With Pre-Announced Q2 Revenue

Alimera Sciences Inc. (NASDAQ:ALIM) was the strongest performer in this list, gaining over 93% during the week. While its quarterly report isn’t scheduled to be released until August 3, Alimera pre-announced its second quarter revenue on July 26, which trounced the consensus estimate of $7.25 million, tipping the scales at between $9.3 million and $9.5 million. Revenue in the U.S. alone is expected to come in between $7.0 million and $7.2 million. The company also announced that its debt agreement with Hercules Capital Inc (NYSE:HTGC) has been amended, lessening Alimera’s liquidity threshold and three-month revenue requirement, providing the company with enhanced financial flexibility.

Thomas Ellis and Todd Hammer’s North Run Capital owned 3.5 million shares of Alimera Sciences Inc. (NASDAQ:ALIM) at the end of March.

Improving Results for United States Steel Corporation

Lastly, United States Steel Corporation (NYSE:X) continued its torrid 2016 run last week, gaining another 30%. That pushed its yearly gains to over 244%, thanks to hefty duties being levied on imported steel from China, which has raised the price of steel and in turn improved the Pennsylvania-based steel producer’s results. For the second quarter, revenue fell by 11% year-over-year to $2.58 billion and missed estimates of $2.68 billion. However the steel maker’s $0.31 per share loss was well ahead of the expected loss of $0.49 per share. United States Steel’s European operations were particularly strong, achieving their best quarterly results in over seven years.

28 hedge funds in our database held stakes in United States Steel Corporation (NYSE:X) at the end of the  first quarter, up from 22 a quarter earlier.

Disclosure: None