EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.3% and the SPDR S&P Retail ETF (XRT) -0.9%.
Trading higher following earnings/guidance: HAIN +16.5%, PSUN +7.8%, KKD +2.9%, SCHS +1.2%, SIG +1.1%, FLWS +0.6%, DEO +0.5%... Trading lower following earnings/guidance: BIG -17.6%, GES -17%, KYAK -4.6%, FRED -2.6%. Near unchanged mark following earnings/guidance: FMCN. Other notable mentions: MPAA flat (enters into strategic cooperative agreement with global automotive parts manufacturer)... Leaders: BBY 1.9% (NYTimes report suggesting the co and Schulze are proceeding with discussions), RAH 3.5% (Corvex Management discloses 5.13% stake in 13D filing; spoke with mgmt, suggests mgmt immediately pursue three alternatives to enhance stockholder value), WTSLA 3.2% (Clinton Group intends to solicit written consent from fellow Wet Seal Stockholders to remove Board Members and replace them with new directors)... Laggards: ARO -1% (names that Emilia Fabricant as Executive Vice President of the Aeropostale brand), ULTA -0.6% (names Bruce L. Hartman Chief Financial Officer).
Analyst related: Upgrades: HINKY 1.1% (upgraded to Buy from Neutral at BofA/Merrill )... Downgrades: SWY -4.1% (downgraded to Hold from Buy at Jefferies)... Misc: TFM -0.6% (initiated with Market Perform at Wells Fargo), VSI -0.4% (initiated with Market Perform at Wells Fargo), GNC 0.3% and WFM 0.4% (initiated with Outperform at Wells Fargo),- NFLX 0.8% (Hearing ITG Majestic out positive on NFLX; sees Q3 sub growth).
