EmailThe consumer discretionary group is outperforming the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.1% and the SPDR S&P Retail ETF (XRT) 0.3%. Trading higher following earnings/guidance: DSW +10.3%, CTRN +7.7%, BWS +5%, CHS +1.7%, KIRK +0.5%... Trading lower following earnings/guidance: BBY -9.8%, URBN -2%, FRED -1.6%, JACK -1.1% Other notable mentions: Leaders: BEBE 3.6% (approves $30 mln share buyback), GRPN 10.1% (Tiger Global Management discloses 9.9% stake in 13G filing out last night), WFM 0.6% (files schedule 13d disclosing distribution of whole foods market common shares, announces buyback, upgraded at goldman)... Laggards: CTB -2.9% (weakness attributed to concerns related to Apollo Tyres deal), SHF -5.3% (Schiff Nutrition under pressure after BAYRY said not raising bid).
Analyst related: Upgrades: IHG 2.8% (upgraded to Overweight from Equal Weight at Barclays ), PENN -0.6% (upgraded to Neutral from Sell at Goldman), ZIP 5% (upgraded to Buy from Neutral at Goldman), AXL 3.5% (upgraded to Hold from Underperform at Jefferies), EXPE 2% (upgraded to Equal Weight from Underweight at Barclays)... Downgrades: FIATY -4.5% (downgraded to Neutral from Buy at UBS)... Misc: SIX -0.7% (initiated with a Neutral at Longbow ), DECK 0.6% (initiated with an Outperform at Wedbush), COH 1% (initiated with an Outperform at Wells Fargo), YUM -1% (cautious commentary from OTR Global), RCL 1% (initiated with a Buy at Natixis Bleichroeder), P 5.6% (Hearing OTR Global out positive)
