EmailThe consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.1% and the SPDR S&P Retail ETF (XRT) -0.1%. Trading higher following earnings/guidance: FRAN +17.4%, ZQK +4.1%, CHKE +1.1%... Trading lower following earnings/guidance: RENT -4.5%, MCD -2.4%... Near unchanged mark following earnings/guidance: DUCK.
Other notable mentions: IGT flat (receives recommendation for online gaming license by Nevada Gaming Control Board), PFCB flat (Centerbridge Partners to extend offer to acquire P.F. Chang's China Bistro)... Laggards: GM -1.1% (Opel unit plans on selling 30,000 cars in China, according to reports), LULU -0.9% (Barron's discusses cautious view on Lululemon's valuation), ELLI -5% (Elli Mae files $60 mln mixed shelf offering and 1 mln share offering by selling stockholders), TWX -0.6% (announces public offering of up to $1 bln of debt securities split between senior notes due 2022 and senior debentures due 2042), VIAB -1% (sells $300 mln of 3.125% senior notes due 2022), DNKN -0.6% (names Neil Moses Chief Global Strategy Officer and Paul Carbone Chief Financial Officer).
Analyst related: Upgrades: JACK 0.2% (upgraded to Buy from Hold at Jefferies), BONT 1.8% (upgraded to Neutral from Underperform at Credit Suisse), PHM -1.6% and DHI -0.8% (upgraded at Citigroup), JWN 0.9% (upgraded to Buy from Neutral at boutique firm)... Downgrades: RRGB -2% (downgraded to Hold from Buy at Jefferies), BZH -4.3% and LEN -2.7% (downgraded to Sell from Neutral at Citigroup), MDC -3.1% (downgraded to Sell from Neutral at Citigroup)... Misc: DKS -0.5% (initiated with an Equal Weight at Morgan Stanley), IMAX -0.9% (IMAX initiated with a Neutral at Susquehanna),
