EmailThe consumer discretionary group is underperforming the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) 0.2% and the SPDR S&P Retail ETF (XRT) -0.3%. Trading higher following earnings/guidance: FIATY +3.5%, SSI +3.4%, ZUMZ +2.8%, PVH +1.3%, BEE +0.9%... Trading lower following earnings/guidance: EXPR -17.5%, F -1.2%. Other notable mentions: Leaders: PETM 2.2% (PETM to replace SUN in the S&P 500), CAB 1% (CAB to replace PETM in the S&P MidCap 400), HI 0.5% (announces the end of the FCA litigation: no finding or admission of liability or wrongdoing), SMBL 0.4% (announces plans to evolve its organizational structure to establish two business segments, move its corporate headquarters to Boulder, CO, and change its name to Boulder Bran).
Analyst related: Upgrades: LEN 0.8% (upgraded to Neutral from Sell at Citigroup), LMCA 1.2% (upgraded to Buy from Neutral at Citigroup)... Downgrades: KBH -0.8% (downgraded to Sell from Neutral at Citigroup), SWY 0.1% (downgraded to Neutral at Robert W. Baird), WGO -3.5% and THO -1.2% (downgraded to Neutral at Robert W. Baird), HOT -1.6% (downgraded to Outperform from Strong Buy at Raymond James), KSS -1.6% (Hearing Cleveland Research out cautious on KSS following September channel checks), ... Misc: KRFT 1% (initiated by multiple analysts), MDLZ 0.9% (initiated by multiple analysts), MJN 0.5% (initiated with an Outperform at Wells Fargo), HSH 0.5% (initiated with a Market Perform at Wells Fargo), LOV 1.9% (initiated with a Buy at Canaccord Genuity), SIRI 2.1% (initiated with a Buy at BofA/Merrill), PNK 0.3% (initiated with Holds at ISI Group), LVS -0.5% (initiated with Holds at ISI Group), PENN -0.4% (initiated with Holds at ISI Group), MGM 0.1% (initiated with Buys at ISI Group), WYNN 0% (initiated with Buys at ISI Group)
