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Select Comfort stock plunges after earnings forecast cut

Thursday’s drop puts airbed maker/retailer’s price at lowest point in over 4 years

By Furniture Today Staff -- Furniture Today, December 14, 2007

MINNEAPOLIS — Airbed manufacturer and retailer Select Comfort’s stock tumbled 34.2% in Nasdaq trading Thursday to close at $6.63, its lowest price in over four years.

Investors apparently dumped shares after the company reported that it would fall short of a quarterly earnings estimate it gave in October. In addition, Northland Securities downgraded the stock from “outperform” to “market perform.”

Before Thursday’s plunge, the stock had traded in a 52-week range of $9.92 to $20.17. The stock has not been as low as the Thursday close since early 2003.

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