EmailThe consumer discretionary group is underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.2% and the SPDR S&P Retail ETF (XRT) -0.4%. Trading higher following earnings/guidance: LRN +6.6%... Trading lower following earnings/guidance: PIR -0.4%. Other notable mentions: Leaders: DSW 1.2% (declares special dividend), RCL 1.1% (increases quarterly dividend 20% to $0.12 from $0.10 per share), LGF 0.6% (forged a longterm output deal with Roadshow Films in Australia), SUMR 0.9% (announces appointment of new CFO)... Laggards: FOSL -0.7% (CFO Michael L. Kovar to retire in March 2013), WTSLA 3.6% (Clinton Group files amended 13D; requests that nominees be brought into discussions with investment bankers and executive recruiters), TEN -1.3% (Tenneco to close Vittaryd, Sweden, manufacturing plant).
Analyst related: Upgrades: ZUMZ 1.2% (Hearing upgraded at boutique firm )... Downgrades: NSRGY 0.1% (downgraded to Neutral at HSBC Securities), DRI -1.3% (downgraded to Neutral from Outperform at Robert W. Baird)... Misc: TJX 0.2% (initiated with a Buy at Citigroup), KORS -0.5% (initiated with a Buy at Citigroup), ASNA -0.2%, AEO -0.3%, ROST 0.1%, SIG 3.2% and TIF 0.1% (initiated with a Buy at Citigroup), COH -0.6% (initiated with a Neutral at Citigroup), YELP -1.3% (resumed with a Buy at Jefferies ), CMG -0.6% (target raised to $355 at Miller Tabak; think corn tortilla menu addition could be 2013 catalyst).
