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) -0.4% and the SPDR S&P Retail ETF (XRT) -0.2%. Select high end retail names are under pressure in early trade following COH results. A few names trading lower include: COH -16.34% TIF -5.10% FOSL -3.09% SKS -1.42% KORS -0.65% JWN -0.27% Trading higher following earnings/guidance: MGAM +3.7%, TRW +4.1%, GT +3.4%, HLF +2.4%, HTZ +1.4%, FDP +0.7%... Trading lower following earnings/guidance: PRSS -41.4%, COH -16.7%, TXRH -4.8%, KONA -2.4%, PAG -1.6%... Near unchanged mark following earnings/guidance: ABV. Other notable mentions: GM flat (has agreed on a marketing deal with Manchester United after the company let its global marketing chief go, according to reports)... Leaders: WTSLA 0.7% (Wet Seal discloses communications from Clinton Group )... Laggards: EA -0.5% (Appoints Blake Jorgensen as Chief Financial Officer), LOW -2.9% (confirms non-binding proposal to RONA Board to acquire RONA for CAD 14.50 in cash per share), PCLN -1.2% (discloses OFT update), SPF -8.6% ( filed for a mixed securities shelf offering for an undisclosed amount. Co also announced an offering of $150 mln of Convertible Senior Notes due 2032 and 12.5 mln shares of common stock), PVH -1.5% (announces licensing agreement with the Seidensticker Group for ARROW Brand).
Analyst related: Downgrades: LVS -0.5% (downgraded to Hold at Argus)... Misc: TWC 0.8% (initiated with a Buy at Jefferies), DTV 0.3% (initiated with a Buy at Jefferies), CMCSA 0.4% (initiated with a Buy at Jefferies), HOTT 3.2% (initiated with a Positive at Susquehanna).
