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) 0.5% and the SPDR S&P Retail ETF (XRT) 1%. Trading higher following earnings/guidance: CWTR +22.6%, TUES +2.3%... Trading lower following earnings/guidance: DEST -20.4%, BEBE -2.8%, PSMT -0.9%...Near unchanged mark following earnings/guidance: FUN. ther notable mentions: MTH flat (priced public offering of 2.3 mln shares of common stock at $34.75 per share for net proceeds of ~$75.7 mln)..
Leaders: PH 1.8% (announced that it has acquired the filtration business; terms not disclosed), MSO 1.1% (Martha Stewart, Founder And Chief Creative Officer, extends employment agreement for an additional five years; Lisa Gersh Named CEO),DENN 2.9% (Denny's expanding global franchising present to China), CWTR 21.6% (announces new $65 mln financing with Golden Gate capital and reiterates Q2 guidance of loss of $0.15 to $0.20 per share), SBUX 0.9% (announced the availability of handcrafted Starbucks Refreshers beverages), Laggards: BZH -7.1% (commenced concurrent underwritten public offerings of common stock and tangible equity units; Company is offering $75 million of its common stock), ACC -0.8% (announces plans to sell 15 mln shares of its common stock in an underwritten public offering; co to acquire $627 in 'high quality' assets), P -2% (reports Listener hours for Pandora during the month of June 2012 were 1.08 billion, an increase of 77% from 605 million during the same period last year)
Analyst related: Upgrades: WPPGY 1.8% (upgraded to Overweight from Neutral at JP Morgan), ... Downgrades: TSN -0.6% (downgraded to Neutral from Overweight at JP Morgan), BPI -8.1% (downgraded to Neutral from Overweight at Piper Jaffray, downgraded to Market Perform from Outperform at William Blair), PSO -0.2% (downgraded to Hold from Buy at Deutsche Bank ), LTD 0.6% (downgraded to Hold at Argus), VIAB -2.1% (downgraded to Neutral from Buy at UBS), ... Misc: WYNN 1.2% (initiated with a Buy at Cantor Fitzgerald), LVS 1.2% (initiated with a Buy at Cantor Fitzgerald, tgt cut to $50 from $57 at JPMorgan citing Macau ests), MGM 1.3% (initiated with a Buy at Cantor Fitzgerald), JCP -5.3% (Hearing estimates cut at Credit Suisse)
