EmailThe consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.2% and the SPDR S&P Retail ETF (XRT) 0.9%. Trading higher following earnings/guidance: FOSL +24.2%, LOPE +17.1%, TUMI +13.5%, MGM +7.5%, PTRY +7.3%, IHG +7.1%, MPEL +5.4%, VSI +4.2%, BPI +4.2%, TAST +2.2%, CONN +1.4%, CVS +1.3%, BEE +1.1%, CTCM +0.5%... Trading lower following earnings/guidance: SGMS -24.2%, NLS -14.6%, CBOU -7%, KAR -2.1%, TAP -1.6%, CLDT -0.6%, Near unchanged mark following earnings/guidance: SSP.
Other notable mentions: Leaders: OPEN 3% (announces $50 million share repurchase), SHW 1.7% (recommends rejection of mini-tender offer by TRC Capital), TSN 0.5% (Barron's discusses cautious view on Tyson Foods), TWC 0.4% (announces underwritten public offering of one series of debt securities with a 30-year maturity), Laggards: BBY -2.9% (Bloomberg discusses that the offer by founder Richard Schulze may be best option for shareholders of BBY), EKDKQ -37.4% (Apple and Google to make bids on Kodak's patents, according to reports).
Analyst related: Upgrades: COH 3% (upgraded to Buy from Hold at Canaccord Genuity), TSN 0.5% (upgraded to Overweight from Equal Weight at boutique firm), XLY 0.6% (Canaccord Genuity upgrades the Consumer Discretionary sector to Overweight)... Downgrades: SFD -3.1% (downgraded to Underweight from Equal-Weight at Morgan Stanley), PLCE -2.3% (downgraded to Market Perform from Outperform at BMO Capital), RRGB -2.1% (Red Robin downgraded to Neutral from Buy at Sterne Agee), LAMR -0.1% (downgraded to Above Average at Caris & Company), DOLE -1.2% (downgraded before the open to Hold at BB&T)... Misc: CPB 0.3% (Campbell Soup initiated with a Hold at Jefferies), WMT 0.2% (initiated with an Overweight at boutique firm).
