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Morning Outlook

Mattress Firm Buys Sleep Train, SolarCity Expands Into 7 States

By Morning OutlookFOXBusiness

Mattress Firm Holding is buying privately-held Sleep Train for $425 million in a cash and stock offer. Sleep Train operates more than 300 stores, mostly in California, Oregon and other western states. This is the largest deal ever for Mattress Firm, and will expand its presence in the West Coast.

Mobileye reported sharply higher second-quarter results last week thanks to strong demand for its technology that helps drivers avoid collisions.  The car-camera company earned an adjusted profit of $0.05 cents per share, which matched analysts’ estimates.  Revenue nearly doubled from a year ago to $33.7 million, topping expectations. Mobileye went public last month and sees strong growth in 2014.

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And it looks like SolarCity sees brighter days ahead.  The solar panel installer says it will open 20 new operation centers in seven states. Solar City, which is backed by Tesla Motors founder Elon Musk, says the new centers are expected to create more than 600 additional jobs.

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