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Last Update: 10-Jan-13 10:02 ET
S&P Consumer Discretionary +0.4%, in-line with the overall market
The consumer discretionary group is in-line with the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) 0.1% and the SPDR S&P Retail ETF (XRT) -0.7%. Trading higher following earnings/guidance: SVU +16.6% (also confirms definitive agreement for sale of five retail grocery banners to Cerberus-Led investor group in a transaction valued at $3.3 bln; tender offer to be conducted for up to 30% of SVU shares at $4.00 per share), CHUY +8.6%, BJRI +7%, URBN +4.6%, PSMT +1.4%... Trading lower following earnings/guidance: ASNA -9.7%, ARO -9.1%, RT -6.4%, TIF -5.2%, AEO -4.7%
Other notable mentions: Leaders: F 3.2% (Ford Motor doubles quarterly dividend to $0.10 per share from $0.05), PTRY 0.8% (announces B. Clyde Preslar joins the co as Chief Financial Officer), GM 0.5% (Opel unit not for sale, according to reports), YUM 1.5% (YUM! Brands's KFC unit apologises to customers in China over handling of food scare, according to reports)... Laggards: PVH -0.8% (announces license agreement with Oracon for Men's ARROW brand cloting in Brazil), FOSL -0.4% (acquires Latin America distribution business from Bentrani Watches) Analyst related: Upgrades: WYNN flat (upgraded to Buy from Neutral at Lazard), NWSA 1.7% (upgraded to Outperform from Mkt Perform at Bernstein), TM 0.9% (Hearing upgraded to Buy at BofA/Merrill), RENT 1.5% ( upgraded to Market Perform at Albert Fried )... Downgrades: DNKN -1.4% (downgraded to Mkt Perform from Outperform at Raymond James ), HTZ -0.3% ( downgraded to Underweight from Overweight at Morgan Stanley), PENN -1.4% (downgraded to Neutral at Lazard ), RRGB -2.9% ( downgraded to Neutral at BofA/Merrill , RUTH -5.2% (downgraded to Mkt Perform from Outperform at Raymond James), KO 0% ( downgraded to Hold at Argus), ABG -4.1% (downgraded to Neutral from Buy at Buckingham Research)... Misc: LVS -1.5% (tgt raised to $59 from $52 at Lazard), LNKD 3.7% ( initiated Outperform at Credit Agricole), AMZN 0.3% (Hearing positive comments at Deutsche Bank; says favorite name in large cap e-commerce)
Other notable mentions: Leaders: F 3.2% (Ford Motor doubles quarterly dividend to $0.10 per share from $0.05), PTRY 0.8% (announces B. Clyde Preslar joins the co as Chief Financial Officer), GM 0.5% (Opel unit not for sale, according to reports), YUM 1.5% (YUM! Brands's KFC unit apologises to customers in China over handling of food scare, according to reports)... Laggards: PVH -0.8% (announces license agreement with Oracon for Men's ARROW brand cloting in Brazil), FOSL -0.4% (acquires Latin America distribution business from Bentrani Watches) Analyst related: Upgrades: WYNN flat (upgraded to Buy from Neutral at Lazard), NWSA 1.7% (upgraded to Outperform from Mkt Perform at Bernstein), TM 0.9% (Hearing upgraded to Buy at BofA/Merrill), RENT 1.5% ( upgraded to Market Perform at Albert Fried )... Downgrades: DNKN -1.4% (downgraded to Mkt Perform from Outperform at Raymond James ), HTZ -0.3% ( downgraded to Underweight from Overweight at Morgan Stanley), PENN -1.4% (downgraded to Neutral at Lazard ), RRGB -2.9% ( downgraded to Neutral at BofA/Merrill , RUTH -5.2% (downgraded to Mkt Perform from Outperform at Raymond James), KO 0% ( downgraded to Hold at Argus), ABG -4.1% (downgraded to Neutral from Buy at Buckingham Research)... Misc: LVS -1.5% (tgt raised to $59 from $52 at Lazard), LNKD 3.7% ( initiated Outperform at Credit Agricole), AMZN 0.3% (Hearing positive comments at Deutsche Bank; says favorite name in large cap e-commerce)
