EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.3% and the SPDR S&P Retail ETF (XRT) 0.2%. Trading higher following earnings/guidance: FRAN +6.8%, GIII +2.9%, WAG +2.5%... Trading lower following guidance: LOW -0.3% Other notable mentions: ABG flat (authorizes $50 mln stock repurchase program), CQB flat (Current CFO Brian Kocher named to newly created position of Chief Operating Officer, will remain CFO until replacement is named), AXL flat (announces new business backlog of $1.25 bln for 2013-2015), RGR flat (Sturm Ruger trading 7% lower in pre-mkt as stock goes ex-dividend today for its $4.50/sh special dividend)... Leaders: BBY 0.9% (authorized a change in the payment date of the company's regular quarterly cash dividend of $0.17 cents per common share to December 31, 2012, from January 2, 2013), SBUX 1.3% (opening 3,000+ net new stores in Americas region by 2017, China on track to become second-largest market in 2014), FOSL 3.6% (Fossil authorizes $1.0 bln share repurchase program), HOT 0.5% (files mixed securities shelf offering ), Laggards: BIG -1.3% (Big Lots CEO is under investigation by SEC over $10 mln stock sale, according to reports)
Analyst related: Upgrades: WM 2.5% ( upgraded to Buy from Neutral at Goldman)... Downgrades: DRI -0.3% (downgraded to Hold from Buy at Jefferies)... Misc: RSG 0.7% ( added to Conviction Buy list at Goldman), BYD 0.9% (resumed with an Outperform at Credit Suiss), MAT -0.5% and HAS -1.3% (Hearing Cleveland Research out cautious)
