Select Comfort Shares Surge After Earnings Beat, Increased Outlook

Select Comfort Corp. shares rallied in the extended session Wednesday after the maker of Sleep Number beds topped Wall Street estimates for the quarter and increased its forecast for the year. Select Comfort shares surged 13% to $29.28 after hours. The company reported first-quarter earnings of 56 cents a share on revenue of $393.3 million. Analysts surveyed by FactSet had estimated 45 cents a share on the revenue of $370.2 million. For the year, Select Comfort sees earnings of $1.25 to $1.50 a share, up from a previous range of $1.20 to $1.40 a share. Analysts had estimated $1.31 a share.