EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.6% and the SPDR S&P Retail ETF (XRT) 0.7%.
Trading higher following earnings/guidance: SMP +8.1%... Trading lower following earnings/guidance: CNK -2%, TSN -0.7%. Other notable mentions: AERL flat (Asia Entertainment announces non-binding memorandum of understanding to acquire Bao Li Gaming Promotion; total upfront consideration for BLGP is expected to be ~$15 mln for 100% of BLGP's operations), IRG flat (receives NASDAQ notice regarding late form 10-Q filing), Leaders: BBY 20.2% (Founder Richard Schulze submits proposal to acquire Best Buy for $24.00 to $26.00 per share), RENT 0.8% (signed a multi-year StationView Essentials contract with both WTVA and WLOV), IMAX 0.4% (the co and PVR announced an agreement to install an IMAX theatre system in Bangalore that is scheduled to open by Mar 2013)... Laggards: LULU -1.7% (cautious mention in Barron's), LVS -0.6% (Las Vegas Sands is target of a probe by US officials over money laundering, according to reports), SAPX -2.9% (receives NASDAQ staff determination; intends to request hearing). Analyst related: Upgrades: KFT 1.5% (upgraded to Buy from Hold at Jefferies), BZH 1.7% (upgraded to Neutral from Underperform at Credit Suisse), WMT 0.3% (upgraded to Buy from Hold at Stifel Nicolaus).
