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Last Update: 27-Sep-12 09:57 ET
&P Consumer Discretionary Index +0.4%, in-line with the broader market
The consumer discretionary group is in-line with the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.3% and the SPDR S&P Retail ETF (XRT) 0.3%. Trading higher following earnings/guidance: THO +7.4%... Trading lower following earnings/guidance: MKC -3.4%.
Other notable mentions: CAG flat (discloses CEO established a pre-arranged stock trading plan), GM flat (General Motors and Peugeot (PEUGY) alliance efforts have slowed down due to economy, according to reports), WTSLA flat (Institutional Shareholder Services (ISS) and Other independent research analysts support clinton group's proposals for change at The Wet Seal), NYT 0.8% (discloses completed sale of About Group; estimates proceeds ~$290 mln), Leaders: ZZ 4.2% and TPX 17.9% (Sealy acquired by TPX for $2.20/share), FBN 5.1% (Furniture Brands announces new credit facility comprised of a new $200 million asset-based loan and a $50 million term loan)... Laggards: POST -2.4% (Ralcorp Holdings announces that it is exploring the sale of ~ 6.8 mln shares of the common stock of Post Holdings), DG -3.1% (announces underwritten secondary public offering of 30 mln common shares by holders, discloses it entered into a Share Repurchase Agreement with Buck Holdings to repurchase from it ~ $250 mln in shares of common stock).
Analyst related: Upgrades: DF 1.7% (upgraded to Outperform at BMO Capital), IMAX 4.4% (upgraded to Positive from Neutral at Susquehanna), GT 4.9% (upgraded to Buy from Neutral at Goldman)... Downgrades: TRIP -2.2% (downgraded to Sector Perform from Outperform at RBC Capital Mkts), WSM -0.7% (downgraded to Hold from Buy at ISI Group).
Other notable mentions: CAG flat (discloses CEO established a pre-arranged stock trading plan), GM flat (General Motors and Peugeot (PEUGY) alliance efforts have slowed down due to economy, according to reports), WTSLA flat (Institutional Shareholder Services (ISS) and Other independent research analysts support clinton group's proposals for change at The Wet Seal), NYT 0.8% (discloses completed sale of About Group; estimates proceeds ~$290 mln), Leaders: ZZ 4.2% and TPX 17.9% (Sealy acquired by TPX for $2.20/share), FBN 5.1% (Furniture Brands announces new credit facility comprised of a new $200 million asset-based loan and a $50 million term loan)... Laggards: POST -2.4% (Ralcorp Holdings announces that it is exploring the sale of ~ 6.8 mln shares of the common stock of Post Holdings), DG -3.1% (announces underwritten secondary public offering of 30 mln common shares by holders, discloses it entered into a Share Repurchase Agreement with Buck Holdings to repurchase from it ~ $250 mln in shares of common stock).
Analyst related: Upgrades: DF 1.7% (upgraded to Outperform at BMO Capital), IMAX 4.4% (upgraded to Positive from Neutral at Susquehanna), GT 4.9% (upgraded to Buy from Neutral at Goldman)... Downgrades: TRIP -2.2% (downgraded to Sector Perform from Outperform at RBC Capital Mkts), WSM -0.7% (downgraded to Hold from Buy at ISI Group).
