EmailSector Summary: S&P Consumer Discretionary Index 0.4%, outperforming the broader market The consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.3% and the SPDR S&P Retail ETF (XRT) 1.1%. Trading higher following earnings/guidance: KORS +10.8%, URBN +2.7%..
Trading lower following earnings/guidance: COOL -10.1%. Other notable mentions: DIS flat (disclosed it entered into a new $2.25 bln 5 year credit agreement on June 8, 2012), LGF flat (announces Universal Pictures has acquired distribution rights in Italy to The Hunger Games: Catching Fire, the next installment LGF's Hunger Games franchise), RDEN 0.2% (announces acquisition of licenses for Justin Bieber and Nicki Minaj Fragrance Brands), AMZN flat (announced its Amazon Cloud Player App for Apple iPhone and iPod touch is now available on the App Store)
Leaders: SSI 1.7% (approved an increase in the Company's quarterly dividend to $0.10/share from prior of $0.09/share), DLTR 1.4% (discloses its subsidiary Dollar Tree Stores has entered into a 5 year $750 mln credit agreement), CBS 0.8% (to redeem its outstanding 5.625% Senior Notes Due 2012 and its outstanding 8.200% Senior Notes Due 2014), SFLY 1.5% (Soros Fund Mgmt discloses 6.78% stake in 13G filing out last night after the close), REED 7.1% (secured a private label partnership with one of the largest supermarket chains in the country), TTM 3.5% (following strength overseas).
Analyst related: Upgrades: ASNA 6.4% (upgraded to Outperform from Mkt Perform at FBR Capital), DPS 1.3% (upgraded to Outperform from Market Perform at Wells Fargo), GIL 4.4% (Gildan Activewear upgraded to Buy from Neutral at boutique firm)... Misc: UA 2.8% (added to US 1 List at BofA/Merrill), DKS 1.8% (removed from US 1 List at BofA/Merrill).
