EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) 0.1% and the SPDR S&P Retail ETF (XRT) -0.1%. Trading lower following earnings/guidance: SENEA -0.9%. Other notable mentions: DECK flat (announced that David Powers will join the Company as President of Direct to Consumer, effective mid-August),LNKD flat (LinkedIn takes steps to protect its members from hacking threats)...
Leaders: UA 1.1% (announces 2-for-1 stock split), TWX 0.7% (prices $1.0 bln debt offering), BBY 0.8% (Bloomberg discusses that BBY may be target for private equity after Richard Schulze resigned from Board), MCD 0.8% (Barron's reviews positive view on McDonalds despite disappointing same store sales, upgraded from Outperform to Buy at Credit Agricole), ALV 0.4% (divests non-core subsidiary)... Laggards: DMND -4.2% (announced that it will not meet the previously disclosed June 11, 2012 Nasdaq deadline to file its quarterly reports on Form 10-Q), TFM -3.2% (announces secondary offering of ~ 10.03 mln shares of its common stock by selling stockholders), GMCR -1.7% (modestly higher following reports that Kroger considering K-Cups), AMZN -1.3% (modestly lower following article discussing online sales tax hurdles and weakness being attributed to cautious comment regarding May channel checks), NFLX -1.3% (Netflix and Warner Bros Domestic Television announced a multi-year exclusive U.S. subscription video licensing agreement for complete previous seasons of hit shows Pretty Little Liars and The Lying Game). Analyst related: Upgrades: SKX 4.5% (upgraded to Buy from Neutral at Sterne Agee), TRIP 2.4% (upgraded to Overweight from Neutral at Piper Jaffray), TWX 0.7% (upgraded to Market Perform from Underperform at Bernstein), PBY 0.4% (upgraded to Buy at BB&T), RKT 1.3% (upgraded to Buy at Credit Agricole)... Downgrades: NSRGY flat (downgraded to Hold from Buy at Societe Generale), DIS 0.5% (downgraded to Above Average at Caris)... Misc: KORS 2.3% (Hearing positive mention at Wedbush ahead of earnings tomorrow (June 12) before the open).
