EmailThe consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) -0.1% and the SPDR S&P Retail ETF (XRT) 0.1%. Trading higher following earnings/guidance: ZLC +12.9%, PETM +8.7%, GES +7.5%, MOV +5.9%, HRL +2.3%, GCO +1.5%, AEO +1%, TOL +0.9%... Trading lower following earnings/guidance: WTSLA -6.3%, XUE -2%, HLF -1.5%... Near unchanged mark following earnings/guidance: PSS, BAMM, BIG. Other notable mentions: M flat (signs commercial and investment agreements with China's VIPStore), AMZN flat (announces licensing agreement with Paramount Picutres), Leaders: DMND 3.2% (secures $225 million investment from Oaktree Capital Management)... Laggards: MMM -0.8% (settles lawsuit over Cogent - Bloomberg.com), LINTA -0.7% (announces extraordinary cash distribution on 3.5% senior exchangeable debentures due 2031 resulting from Motorola Mobility acquisition), RAH -3.4% (closes Petri Baking Products acquisition; deal will deliver $0.05 of GAAP accretion and $0.08 of cash accretion to adjusted EPS in the first year of ownership), CAAS -2.6% (announces sale of Zhejiang steering pump business), HWD -1% (lower despite Barron's discussing positive view on Harry Winston Diamond's valuation), BBY -1.5% (Barron's reviews cautious view on Best Buy despite better than expected earnings).
Analyst related: Upgrades: ARO 0.5% (upgraded to Outperform from In-line at Imperial Capital), SBUX 1.5% (upgraded to Buy from Neutral at BofA/Merrill ), TV flat (upgraded to Overweight from Neutral at JPMorgan)... Downgrades: PSO -2% (downgraded to Neutral from Buy at BofA/Merrill)... Misc: FB 3.1% (initiated with a Buy at Needham), CCE -0.3% (initiated with a Hold at Societe Generale).
