EmailThe consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) +0.2% and the SPDR S&P Retail ETF (XRT) +0.3%.
Trading higher following earnings/guidance: DSW +7%, DLIA +6.8%, RL +6.6%, WSM +5.9%, CBRL +5.9%, URBN +3.3%... Trading lower following earnings/guidance: EXPR -23.1%, AZO -1.8%... Near unchanged mark following earnings/guidance: BBY, GIS. Other notable mentions: CBE FLAT (Cooper Industries issues announcement under Irish takeover rules), CPB 0.3% (Barron's discusses positive view on Campbell Soup (CPB) despite disappointing sales), Leaders: BNHN 21.7% (Benihana to be acquired by Angelo, Gordon & Co.'s Private Equity Group for $296 mln ($16.30 per share), WYN 0.8% (Hospitality Props enters agreement for 20 hotels with Wyndham Hotel Group), ULTA 1.2% (Lone Pine Capital discloses 5.6% stake in 13G), GES 2.5% (Guess? CEO provides statement in regards to lawsuit by Gucci America against Guess and various licensees), Laggards: MNTG -1.5% (receives permanent Ohio gaming license).
Analyst related: Upgrades: ANF 0.2% (upgraded to Neutral from Underweight at Atlantic Equities), ARO 1.6% (upgraded to Outperform from Neutral at Cowen), GPS 0.6% (upgraded to Buy from Neutral at Lazard)... Downgrades: LOW -0.7% (downgraded to Neutral from Overweight at Piper Jaffray)... Misc: ZIP 3.6% (initiated with Overweight at Morgan Stanley), HTZ 1.8% and CAR 1.6% (initiated with Overweight at Morgan Stanley), PBH -0.9% (resumed with Underperform at BofA/Merrill),-F TSLA 7.9% (initiated with a Buy at Maxim), DNKN 0.1% (initiated with an Equal Weight at boutique firm), SBUX 0.9% and CBOU 0.9% (initiated with an Overweight at boutique firm)
