The consumer discretionary group is slightly trailing the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust (RTH) up 1.8% and the SPDR S&P Retail ETF (XRT) up 2.5%.
Trading higher following earnings/guidance: UNFI +7.1%... Trading lower following earnings/guidance: TFM -3.3%, JOSB -2.9%. Near unchanged mark following earnings/guidance: GEDU.
Other notable mentions: Leaders: Safeway (SWY +2.9%) increases stock repurchase authorization by $1.0 billion. Borg Warner (BWA +4.9%) to sell tire pressure monitoring business to Huf Electronics. Melco Crown Entertainment (MPEL +7.8%) filed for an ADS/ordinary share shelf offering, includes selling shareholders, for an undisclosed amount. Tiffany & Co (TIF +3.5% ) boosted by positive mention in Barron's.
Analyst related: Upgrades: Toll Brothers (TOL +2.4%) , Lennar (LEN +3.3%), and DR Horton (DHI +3.2%) upgraded to Outperform at Raymond James. Peugot SA (PEUGY +5.4%) was upgraded to Neutral from Underweight at JPMorgan. Downgrades: Netflix (NFLX -0.4%) downgraded to Underperform from Neutral at Wedbush. Daimler AG downgraded to Neutral from Overweight at JP Morgan. Misc: Lear (LEA +3.9%) initiated with a Sector Perform at RBC Capital. RLJ Lodging Trust (RLJ -0.5%) initiated with a Neutral at Janney Montgomery Scott. American Axle (AXL +3.9%) and Dana Holding (DAN +0.8%) initiated with Sector Performs at RBC Capital. Tenneco (TEN +6.5%) initiated with a Top Pick at RBC Capital. New Oriental Education & Technology (EDU +4.6%) initiated with an Outperform at Credit Suisse. ConAgra (CAG +1.4%) initiated with a Buy at Janney Montgomery Scott. Chesapeake Lodging Trust (CHSP +5.5%) initiated with a Buy at Janney Montgomery Scott.






