EmailThe consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.4% and the SPDR S&P Retail ETF (XRT) -0.2%.
Trading higher following earnings/guidance: RAD +8.5%, SONC +2.3%, PVH +1.4%... Trading lower following earnings/guidance: BBBY -12.8%. Other notable mentions: PFCB flat (Centerbridge Partners extends offer to Acquire co to June 28 from June20 ), PG flat (Barron's reviews cautious view on Procter & Gamble), Leaders: NKE 0.5% (Adidas exec denies that interested in Umbro brand, according to reports)... Laggards: BBY -0.5% (raises quarterly dividend by $0.01 to $0.17/share), DLIA -0.7% (Delia*s files for $30 mln mixed securities shelf offering). Analyst related: Upgrades: TJX 0.9% (upgraded to Outperform from Market Perform at Wells Fargo), MDAS 5.5% (upgraded to Buy from Neutral at UBS)... Downgrades: UA -6% (downgraded to Neutral from Buy at UBS), ZQK -4.2% (downgraded to Neutral from Buy at boutique firm), ZUMZ -3.8% (downgraded to Neutral from Buy at boutique firm), ... Misc: FLWS 1.5% (initiated with a Buy at The Benchmark Company), SKUL -0.3% (initiated with Buy at boutique firm), VFC flat (added to Top Picks Live list at Citigroup), WFM flat (initiated with a Buy at SunTrust), PSMT -0.9% (initiated with Neutral at boutique firm), FB 1.8% (initiated with a Hold at Argus), APP 3.6% (initiated with Buy at boutique firm).
