EmailThe consumer discretionary group is slightly 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) -1.1%.
Trading higher following earnings/guidance: : DOLE +10.2%, PUBGY +1.2%, ... Trading lower following earnings/guidance: CMG -20.8%, LNET -16.4%, ALV -1.9%. CMG results weighing on select restaurant/QSR names.... BWLD -6.28%, TXRH -4.79%, PNRA -3.76%, BJRI -3.39%, CAKE -2.81%, RT -2.78%, SBUX -2.7%, DIN -2.20%, DRI -1.92%, EAT -1.67%, JACK -1.90%, YUM -1.66%, WEN -1.59%, TAST -1.17%, MCD -0.97%, SONC -0.67% are all in the red.
Other notable mentions: EBAY flat (prices $3 bln Senior Unsecured Notes offering, updates Q3 and FY guidance to reflect impact of public debt offering, upgraded to Overweight from Neutral at JPMorgan), HINKY flat (Heineken has made a counter bid of ~$4.1 bln for Asia Pacific Breweries, according to reports), AMZN flat (announced a licensing agreement with Warner Bros. Domestic Television Distribution )... Leaders: EDU 11.7% (announces formation of independent special committee), VIAB 1% (Viacom announces that the co has reached a long-term agreement to renew carriage with DIRECTV), WMT 0.5% (Wal-Mart is pushing Washington for web sales tax, according to report), Laggards: TRAK -0.4% (announces agreement to acquire 1st Auto Transport Directory for ~ $74 mln in cash), CHKE -0.6% (announces exclusive partnership with Max, a fashion retail chain in the Middle East and Africa), DISH -0.7% (places offering of $1 bln in senior notes), PTRY -1.3% (announces proposed $250 million senior unsecured notes offering).
Analyst related: Upgrades: SWK -1.2% (Stanley Black & Decker upgraded to Buy from Hold at KeyBanc)... Downgrades: LHO -1.7% (downgraded to Neutral from Outperform at Cowen)... Misc: LMCA 0.4% (initiated with a Buy at ISI Group), SIRI 0.5% (initiated with a Buy at ISI Group), FINL -1.7% (initiated with a Equal-Weight at Morgan Stanley), FL -1.5% (initiated with a Equal-Weight at Morgan Stanley), KOF -0.1% (initiated with a Neutral at Citigroup), CROX -0.6% (initiated with a Buy at CL King ), CHSP 0.9% HOT -0.6% WYN -1.1% H -0.3% IHG -1.3% CLDT 1.9% (initiated with a Buy at Sun Trust Rbsn Humphrey), MAR -0.5% HST -1.3% SHO -1.4% GET -0.7% FCH -1.9% DRH -1% CHH -1.9% AHT 0.4% (initiated with Neutral at Sun Trust Rbsn Humphrey).
