EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is in the red with the Retail HOLDRS Trust (RTH) -0.2% and the SPDR S&P Retail ETF (XRT) -0.1%. Trading higher following earnings/guidance: VVTV +10.5%, ANF +7.1%, APP +4.1%, TGT +2%, CCSC +0.8%... Trading lower following earnings/guidance: CRMB -18.6%, CTRN -16.3%, SPLS -15.2%, BOBE -1%... Near unchanged mark following earnings/guidance: FFN.
Other notable mentions: KFT flat (Board of Directors approves spin-off of North American grocery business; Berkshire decreases Q2 stake to ~58.8 mln from ~78.0 mln in Q1), NYT flat (names Mark Thompson as next President and CEO), TSLA flat (announced pricing for Model S in Canada), NSRGY flat (Nestle Chairman has said he has no plans to spilt the company into two, according to reports), OPEN flat (reports Q2 2012 industry growth in the U.S. and North America was essentially flat year-over-year)... Leaders: FOSL 1.7% (appoints John A. White Executive Vice President and Chief Operating Officer)... Laggards: MOTR -4.6% (Motricity Plans to modify its rights offering ), MTN -0.4% (announces Chief Financial Officer Jeff Jones to retire at end of year).
Analyst related: Downgrades: CACH -3.1% (downgraded to Neutral from Overweight at Piper Jaffray), SWHC -2.9% (downgraded to Hold from Buy at KeyBanc), RGR -4.1% (downgraded to Underweight from Hold at KeyBanc), BKS -3.5% (downgraded to Hold at Stifel Nicolaus)... Misc: WAG flat (initiated with a Buy at Cantor), CVS flat (initiated with a Buy at Cantor), MOV 2.3% (initiated with a Buy at Capstone), FRAN 1.8% (initiated with a Buy at Janney ), SBUX 2.4% (added to U.S. Focus List at Credit Suisse ), MCD flat (removed from U.S. Focus List at Credit Suisse),
