EmailThe consumer discretionary group is underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.5% and the SPDR S&P Retail ETF (XRT) -0.4%. Other notable mentions: JWN flat(Barron's profiles positive view in Nordstrom ), Leaders: ODP 10.9% (Starboard Value confirms stake in ODP), SBAC 0.9% (reaches an agreement with T-Mobile USA to extend the remaining term on ~2,800 existing leases to an average of ~7 years and granted T-Mobile rights to upgrade certain towers with radio equipment)... Laggards: ZNGA -2.5% (Reuters discusses allegations that ZNGA has made against Electronic Arts over employee hiring), TWI -1.6% (files prospectus and offer documents to purchase Titan Europe plc).
Analyst related: Downgrades: OPEN -4.3% (downgraded to Neutral from Overweight at Piper Jaffray), HAS -2.1% (downgraded to Hold at Stifel Nicolaus)... Misc: NFLX -5.4% (initiated with an Underperform at Macquarie), MNST -0.3% (Hearing positive mention at Goldman), GRPN -5.1% (Hearing added to sell list at Evercore), CMG 3.1% (move attributed to positive analyst comments regarding next earnings report).
