The consumer discretionary group is underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.2% and the SPDR S&P Retail ETF (XRT) -0.3%. Trading higher following earnings/guidance: DEST +9.1%, TUES +1.8%. Other notable mentions: SHLD flat (announces expiration of rights offering to effect separation of Sears Hometown and Outlet business), JMBA flat (Jamba Juice and Systems Services of America announce new West Coast distribution alliance)... Leaders: GMCR 2% (Green Mtn Coffee and Dr Pepper Snapple Group announce the companies have reached an agreement to offer Snapple premium iced teas in K-Cup and Vue packs), WWW 4.5% (Wolverine raises accretion guidance as it closes deal for PSS's Performance + Lifestyle Group)... Laggards: IHG -8.1% (confirmed results from mtg; approved special dividend and share consolidation).
Analyst related: Upgrades: NSRGY 0.5% (upgraded to Buy from Hold at Societe Generale), IPG 1.4% (upgraded to Buy from Neutral at Citigroup), RSH 11.5% (upgraded to Buy from Underperform at BofA/Merrill)... Downgrades: ANN 0.3% (downgraded to Equal-Weight from Overweight at Morgan Stanley), NFLX -7.6% (downgraded to Underperform from Buy at BofA/Merrill), ITW -0.8% (downgraded to Neutral from Overweight at JPMorgan)... Misc: GIL 0.5% (initiated with a Buy at TD Securities)






