EmailThe consumer discretionary group is outperforming the broader market in early trade following positive retail econ data. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.7% and the SPDR S&P Retail ETF (XRT) 0.6%. Trading higher following earnings/guidance: KORS +14.4%, EL +6.6%, HD +2.4%, SKS +2%, TJX +0.9%... Trading lower following earnings/guidance: SUMR -28.8%, GRPN -22.4%, SBSA -3.3%, DKS -3.2%, KID -2%, KGJI -0.6%... Near unchanged mark following earnings/guidance: SORL.
Other notable mentions: DNKN flat (is recruiting franchisees for the markets of Reno, Nevada; Wichita and Topeka, Kansas; as well as portions of Texas)... Leaders: MNST 1.9% (announces additional $250 mln share repurchase authorization), WMT 0.4% (Wal-Mart has gained approval from China to raise its stake in a e-commerce company, according to reports), LGF 0.9% (Lions Gate Entertainment and A&E announce longterm home entertainment distribution partnership), TTM 2.2% (higher following reports that the co has appointed GM exec Karl Slym as new managing director), SHLD 0.7% (Sears Hldg in discussions to spin-off its Lands End segment, according to NYPost), EKDKQ 10.5% (Eastman Kodak has extended the deadline for its patent auction, according to reports)... Laggards: CSTR -0.4% (announces Gregg Kaplan, president and chief operating officer of Coinstar, will be leaving the company in order to pursue new opportunities)..
Analyst related: Downgrades: NWY -10.3% (downgraded to Neutral from Buy at Janney Mntgmy Scott), SGMS -6.1% (downgraded to Hold from Buy at Deutsche Bank), PSO -0.4% (downgraded to Equal-Weight from Overweight at Morgan Stanley), EXPE -1.2% (downgraded to Hold from Buy at Stifel Nicolaus), WEN 0% (downgraded to Underweight at KeyBanc Capital Mkts), DPZ -0.4% (downgraded to Neutral from Buy at Goldman)... Misc: KYAK 1.5% (initiated with a Neutral at Piper Jaffray, initiated with a Buy at Deutsche Bank), SCSS 2.3% (initiated with an Overweight at Barclays), ZZ flat (initiated with an Underweight at Barclays).
