EmailThe 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) 0.7%. Trading higher following SSS: PSMT +0.8%. Other notable mentions: CASY flat (to acquire 22 stores from Kum & Go; expected to be accretive in the first year of operation), RENT flat (announced a StationView Essentials contract with Calkins Media for its ABC-affiliate stations)... Leaders: TTM 5.8% (trading higher following strength in overseas trading; reports indicate strength being attributed to new Range Rover), JAH 1.8% (Jarden announces proposed $450 mln private offering of senior subordinated convertible notes and authorization to repurchase Up to $250 mln of stock), AMZN 0.8% (Amazon.com expansion and increased tax collection discussed in NYTimes report), AEO 2.7% (announces special cash dividend of $1.50 per share), FDO 0.7% (reaches preliminary settlement for a class of over 1,700 New York store managers regarding their claims for overtime wages; provides for maximum payment of $14 mln by co), Laggards: MTH -0.4% (announced underwritten registered public offering of $100 mln aggregate principal amount of its Convertible Senior Notes due 2032).
Analyst related: Upgrades: KSS 3.6% (upgraded to Buy from Hold at Deutsche Bank), RCI 1.9% (upgraded to Buy from Neutral at BofA/Merrill), GPI 2.5% (upgraded to Overweight from Underweight at Morgan Stanley)... Downgrades: SPF flat (downgraded to Neutral from Buy at UBS), FINL -3.7% (downgraded to Underperform from Neutral at Sterne Agee)... Misc: SMP 3.5% (initiated with a Buy at BofA/Merrill), ABG -0.5% (initiated with a Underweight at Morgan Stanley ), KMX 1.1% (initiated with a Overweight at Morgan Stanley), DG 0.9% (initiated with an Overweight at Piper Jaffray), LAD 1.4% (initiated with a Overweight at Morgan Stanley), SAH -0.3% (initiated with a Underweight at Morgan Stanley).
