EmailThe consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) 0.5% and the SPDR S&P Retail ETF (XRT) -0.1%. Trading higher following earnings/guidance: P +11.6%, PVH +6%, COST +1%, NWL +0.6%... Trading lower following earnings/guidance: MNRO -10.8%, TIF -8.6%, SIG -7.4%, HNZ -2%, SBMRY -1.5%.
Other notable mentions: KO flat (Barron's discusses positive view on Coca Cola), Leaders: VIAB 1.1% (will become a component of the NASDAQ-100 Index), RENT 0.9% (expands contract with Phase 4 Films), KUTV 27.3% (entered into an agreement with Chinese SNS website Kaixin001.com), EBAY 1.4% (PayPal signed a deal with VeriFone (PAY) allowing it to gain access at 80% of the top 200 largest U.S. retailers), GIS 0.4% (announces definitive agreement to acquire Brazilian food maker Yoki), BBY 1.6% (trading higher off the open following last night's disclosure of insider purchase from interim CEO who bought 100K shares at $18.14 to $18.32 on 5/23, worth ~$1.8 mln), PETM 1.5% (higher despite Barron's discussing cautious view on PetSmart despite better than expected earnings). Analyst related: Upgrades: ARO 0.5% (upgraded to Market Perform from Underperform at Wells Fargo)... Misc: CNK 1.4% (initiated with a Buy at Wunderlich), ZUMZ 1.8% (initiated with an Overweight at JPMorgan), DISCA 0.8% (initiated with a Neutral at Macquarie), EXPR 1.4% (initiated with a Neutral at JPMorgan), AMCX flat (initiated with Neutral at Macquarie).
