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Last Update: 21-Feb-13 10:53 ET
S&P Consumer Discretionary Index -0.3%, faring modestly better than the weaker broader market
The consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) 0% and the SPDR S&P Retail ETF (XRT) 0.6%. Trading higher following earnings/guidance: JACK +7.6%, CROX +3.3%, IMAX +3.3%, LTM +2.3%, WMT +2.2%, DENN +1.6%, FNP +1.2%, CAKE +0.5%... Trading lower following earnings/guidance: KAR -9.3%, DFRG -4.4%, CNK -3.2%, SAFM -3.3%, ZLC -2.8%, HST -2.1%, SAM -1.3%, NWL -0.4%, HSY -0.4%, OEH -0.2% Other notable mentions: STZ 2.3% and BUD -1.2% (Anheuser-Busch InBev issues statement regarding discussions with DoJ: in discussions to resolve litigation, parties to request a stay of all litigation until March 19, 2013)... Laggards: KORS -2.3% (Michael Kors prices secondary offering of 25 mln shares at $61.50 per share) Analyst related: Upgrades: GRPN 5% (Groupon upgraded to Overweight from Neutral at Piper Jaffray), EA 0.6% (upgraded to Outperform from Neutral at Macquarie)... Downgrades: ODP -4.1% and OMX -2.9% (downgraded to Neutral from Buy at Janney ), HD -2.2% and LOW -1.7% (downgraded to Hold at Stifel ), DENN 1.6% ( downgraded to Neutral from Buy at B. Riley Caris), OPEN -2.1% ( downgraded to Mkt Perform from Outperform at Raymond James)... Misc: JCP 2.1% ( early strength being attributed to sell side analyst making positive comments on JCP regarding January trends)
