EmailThe consumer discretionary group is outperforming the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.1% and the SPDR S&P Retail ETF (XRT) 0.4%. Trading higher following earnings/guidance: GPS +3.7%... Trading lower following earnings/guidance: SHLD -9.6%, DOLE -4.8%, SJM -2.5%, HIBB -2.6%, WTSLA -1%, FCH -0.8% Other notable mentions: SBUX flat (announces additional 25 mln share repurchase authorization), AVP flat (appoints Patricia Perez-Ayala as Chief Marketing Officer), ODP flat (Starboard Denounces Office Depot's Adoption of 'Poison Pill' Rights Plan), Leaders: NKE 1.8% (announces 2-for-1 stock split, increases dividend, reached a definitive agreement to sell its Cole Haan affiliate brand to Apax Partners for $570 million), BUD -0.2% (AB Inbev receives approval from Mexico antitrust for purchase of Modelo-- Bloomberg TV), OUTD 1.5% (Outdoor Channel Holdings to merge with The Sportsman Channel and InterMedia Outdoors; stockholders will be entitled to receive for each share, subject to proration, either $8.00 in cash or one share of stock in IMOH), OMX 23.6% (OfficeMax strength being attributed to Boise Cascade IPO filing), HTZ 2% and DTG 0.6% (Hertz obtains FTC clearance for Dollar Thrifty acquisition ), MAT 0.4% (names CEO Bryan G. Stockton as Chairman of the Board effective January 1, 2013), CCL 1.5% (declared special dividend of $0.50 per share in addition to previously announced regular quarterly dividend of $0.25 per share)
Analyst related: Upgrades: GME 2.9% (upgraded to Buy at Caris & Company), NCMI 2.4% (upgraded to Outperform at Barrington Research), ISLE 7.3% (upgraded before the open to Buy at Sidoti)... Downgrades: AEO -1.7% (downgraded to Market Perform from Outperform at BMO Capital Mkts)... Misc: GIII 2.2% (initiated with a Outperform at Cowen & Co), ANN flat (initiated with a Neutral at Macquarie), NFLX 1.3% (initiated with Underperform at Albert Fried), CHS 1% (initiated with a Neutral at Macquarie), FRAN 2.6% (initiated with Outperform at Macquarie, initiated with a Buy at Canaccord Genuity)
