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Last Update: 08-Apr-13 10:50 ET
S&P Consumer Discretionary Index +0.22%, modestly outperforming the broader market
The consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is in the red with the Retail HOLDRS Trust (RTH) -0.1% and the SPDR S&P Retail ETF (XRT) -0.1%.
Trading lower following earnings/guidance: CHUY -2.4% Other notable mentions: YUM flat (volatility following news of new Chinese bird flu outbreak), DG flat (announces offering of $1.3 billion of Senior Notes due 2018 and Senior Notes due 2023), SWY flat (Blackhawk Network Holdings announces estimated price range for initial public offering at an estimated offering price of $20 to $22 per share ), SSI flat (increases quarterly dividend by 25% to $0.125 vs $0.10 prior)... Leaders: AVP 0.4% ( further steps of cost savings initiative; include a global headcount reduction of more than 400 associates across all regions; actions to generate ~$45-50 mln in annualized savings)... Laggards: CACH -3.1% ( announced that the NASDAQ Global Select Market has established a new "ex-rights" date for its previously announced $8.0 million rights offering), CECO -3.5% (Career Education names Scott Steffey as President & CEO), CEDC -28.1% (Central European Dist confirmed earlier it won creditor approval of proposed restructuring plan), STZ 1.7% (reached an agreement with DoJ; Parties request extension of the present stay of proceedings until April 23, 2013 to finalize proposed consent judgment) Analyst related: Downgrades: MTN -1.1% (downgraded to Neutral from Outperform at Credit Suisse)... Misc: DXLG 0.8% (initiated with Buy at Gilford Securities)
Trading lower following earnings/guidance: CHUY -2.4% Other notable mentions: YUM flat (volatility following news of new Chinese bird flu outbreak), DG flat (announces offering of $1.3 billion of Senior Notes due 2018 and Senior Notes due 2023), SWY flat (Blackhawk Network Holdings announces estimated price range for initial public offering at an estimated offering price of $20 to $22 per share ), SSI flat (increases quarterly dividend by 25% to $0.125 vs $0.10 prior)... Leaders: AVP 0.4% ( further steps of cost savings initiative; include a global headcount reduction of more than 400 associates across all regions; actions to generate ~$45-50 mln in annualized savings)... Laggards: CACH -3.1% ( announced that the NASDAQ Global Select Market has established a new "ex-rights" date for its previously announced $8.0 million rights offering), CECO -3.5% (Career Education names Scott Steffey as President & CEO), CEDC -28.1% (Central European Dist confirmed earlier it won creditor approval of proposed restructuring plan), STZ 1.7% (reached an agreement with DoJ; Parties request extension of the present stay of proceedings until April 23, 2013 to finalize proposed consent judgment) Analyst related: Downgrades: MTN -1.1% (downgraded to Neutral from Outperform at Credit Suisse)... Misc: DXLG 0.8% (initiated with Buy at Gilford Securities)
