EmailThe consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust (RTH) 0.1% and the SPDR S&P Retail ETF (XRT) 0.2%. Trading higher following earnings/guidance: TIF +5.9%... Select Jewelry and accessory related peers are also in the green: MOV +3.2% (reports Aug 28 before the open), ZLC +2.1% (Aug 29 before the open), NILE +2%, FOSL +0.7%, HWD +0.7% (Sept 5 after the close). Other notable mentions: RCI flat (Rogers Comms to acquire theScore Television Network), BONA flat (announces ADS purchases up to $1 mln), Leaders: HTZ 13.8% and DTG 7.4% (Hertz to acquire Dollar Thrifty for $87.50 per share), BBY 5.3% (Best Buy Board and Founder Richard Schulze reach agreement permitting Schulze to form investment group and conduct due diligence), NYT 2% (InterActiveCorp's Ask.com acquires The About Group from The New York Times), DMD 0.9% (filed for a $250 mln mixed securities shelf offering by company and selling stockholders)... Laggards: PNK -0.8% (postpones August 29 Grand Opening of L'Auberge Casino & Hotel Baton Rouge).
Analyst related: Upgrades: THS 3.1% (upgraded to Buy from Neutral at Citigroup), RUE 4.7% (upgraded to Buy from Hold at Jefferies)... Downgrades: IRG -6.9% (downgraded to Hold from Buy at KeyBanc)... Misc: BNNY 1.1% (resumed with an Outperform at Credit Suisse), ANGI -1.2% (initiated with a Mkt Perform at Barrington Research), OPEN 1.1% (target raised to $49 at The Benchmark Company).
