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) 0.1% and the SPDR S&P Retail ETF (XRT) 0.4%. Trading higher following earnings/guidance: JOSB +17.5%, TFM +4.3%, GCO +3.7%, ZLC +1.9%, BF.B +1.4%, VOLVY +1.3%, ISLE +1.1%... Trading lower following earnings/guidance: HNZ -1.4%. Other notable mentions: GIL flat(Gildan Activewear's President and CEO initiates 10b5-1 plan to sell up to 2.75 mln of his total of 9.8 mln common shares), AXL flat (names David Dauch as President and CEO), NAUH flat (increases quarterly dividend by 23% to $0.04 per share from $0.0325 per share)... Leaders: SHLD 0.7% (establishes Sep 7 as record date for distribution of subscription rights to effect separation of its Sears Hometown and Outlet Businesses), GM 0.6% (will invest $1 bln in Russia over the next 5 years, according to reports), JADE 0.5% (special committee appoints Houlihan Lokey as Independent Financial Advisor), VITC 4.2% (divests manufacturing operations; margin accretive over next 12 mos ), SIRI 0.4% (10% owner Liberty Media bought 40,460,803 shares at $2.50-2.53 worth ~$102.2 mln).
Analyst related: Upgrades: ANGI 5.2% (upgraded to Outperform from Perform at Oppenheimer)... Downgrades: VIAB -0.7% (downgraded to Hold at Wunderlich), MOV -1.7% (downgraded to Neutral from Buy at Citigroup), LRLCY -5% (downgraded to Neutral from Buy at UBS).
