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Last Update: 17-Dec-12 10:27 ET
S&P Consumer Discretionary Index 0.5%, 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) 0.4% and the SPDR S&P Retail ETF (XRT) 0.1%.
Trading higher following earnings/guidance: RICK +0.6% Other notable mentions: SPLS flat (announces resignation of Michael A. Miles Jr., President and COO), SBUX 1.3% (Teavana disclosed that Andrew T. Mack, SKM Equity Fund III, SKM Investment Fund and Jurgen W. Link executed a written consent approving and adopting the Merger Agreement with Starbucks ), SIRI flat ( discloses Copyright Royalty Board update), YELP flat (Joho Capital discloses 5.26% stake in 13G filing, initiated with an Equal Weight at Morgan Stanley)... Leaders: CBOU 29.9% (Caribou Coffee to be acquired by Joh. A. Benckiser for $16.00 per share in cash (halted); Joh. A. Benckiser also owns a majority stake in Peet's Coffee & Tea), SMG 0.5% (filed for a mixed securities shelf offering for an undisclosed amount), RHP 1.4% (announces $100 Million share repurchase program) Analyst related: Upgrades: HIBB 1.6% (Hearing HIBB upgraded to Buy from Hold at Feltl)... Misc: AEO 0.2% (TAG opines on the teen retailers; remains favorable on AEO), CMG 1.1% ( Hearing positive mention at ITG Research), CONN 1.5% ( initiated with a Buy at Stifel Nicolaus ), NFLX -1.2% (target raised to $110 at Cantor Fitzgerald), EXPE 0.9% (target raised to $70 at Cantor Fitzgerald)
Trading higher following earnings/guidance: RICK +0.6% Other notable mentions: SPLS flat (announces resignation of Michael A. Miles Jr., President and COO), SBUX 1.3% (Teavana disclosed that Andrew T. Mack, SKM Equity Fund III, SKM Investment Fund and Jurgen W. Link executed a written consent approving and adopting the Merger Agreement with Starbucks ), SIRI flat ( discloses Copyright Royalty Board update), YELP flat (Joho Capital discloses 5.26% stake in 13G filing, initiated with an Equal Weight at Morgan Stanley)... Leaders: CBOU 29.9% (Caribou Coffee to be acquired by Joh. A. Benckiser for $16.00 per share in cash (halted); Joh. A. Benckiser also owns a majority stake in Peet's Coffee & Tea), SMG 0.5% (filed for a mixed securities shelf offering for an undisclosed amount), RHP 1.4% (announces $100 Million share repurchase program) Analyst related: Upgrades: HIBB 1.6% (Hearing HIBB upgraded to Buy from Hold at Feltl)... Misc: AEO 0.2% (TAG opines on the teen retailers; remains favorable on AEO), CMG 1.1% ( Hearing positive mention at ITG Research), CONN 1.5% ( initiated with a Buy at Stifel Nicolaus ), NFLX -1.2% (target raised to $110 at Cantor Fitzgerald), EXPE 0.9% (target raised to $70 at Cantor Fitzgerald)
