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Last Update: 07-Mar-13 10:59 ET
S&P Consumer Discretionary Index -0.12%, underperforming the market
The consumer discretionary group is slightly underperforming 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) 0.2%. Trading higher following earnings/guidance/SSS: VVTV +13.6%, SFD +6.2%, APP +4.8%, KR +3.3%, COST +0.7%, LVB +0.4%, TJX +0.4%, PSMT +0.2%, BKE +0.2%... Trading lower following earnings/guidance/SSS: PETM -7.2%, PIR -4.5%, FRED -4%, RAD -2.9%, ZUMZ -2.1%, SCVL -0.9%, PERF -0.7%, TLF -0.7%... Near unchanged mark following earnings/guidance/SSS: SMRT Other notable mentions: TUMI flat (files for $250 mln common stock offering by selling shareholders), HOTT halted (sycamore Partners to acquire Hot Topic for $14.00 per share in cash), Leaders: ANN 2.1% ( S.A.C. Capital Advisors discloses 5.3% passive stake in 13G filing), TWX 1.1% (Time Warner announces plan to separate Time Inc), CL 0.4% (announces 2-for-1 stock split and 10% dividend increase effective 2nd quarter 2013), HTZ 0.3% (announces sale of ~60.05 mln shares of commno stock by selling stockholders... Laggards: MDP -8.1% (confirms discussions with Time Warner regarding a potential combination of its National Media Group with Time Inc.'s Lifestyle and Style & Entertainment brands), KAR -3.5% (announces pricing of 13 mln share secondary offering of common stock at $19.25 per share), Analyst related: Upgrades: HOG 0.7% (upgraded to Buy from Neutral at Longbow), JCP 2.5% (upgraded to Neutral from Sell at Northcoast )... Downgrades: UNFI -1.2% (United Natural Foods downgraded to Hold from Buy at Argus)... Misc: BIG -1.1% (upgraded to Hold from Sell at Deutsche Bank, downgraded to Hold from Buy at Canaccord, downgraded to Underperform from Market Perform at Raymond James), ANGI 6.5% (initiated with an Overweight at Piper Jaffray), LNKD 0.5% (Hearing positive comments at BofA/Merrill; raising price objective to $190)
