EmailThe consumer discretionary group is slightly underperforming the broader market in early trade following disappointing June Retail Sales data. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.7% and the SPDR S&P Retail ETF (XRT) -0.6%.
Trading higher following earnings/guidance: GCI +3.5%... Trading lower following earnings/guidance: SUSS -3.5%, TTM -2.7%. Other notable mentions: RGS flat (Regis sells Hair Club business to Aderans Co for $163.5 mln)... Leaders: TLB 1.2% (Sycamore Partners to extend offer to acquire TLB for $2.75 in cash to Friday, July 27), Laggards: F -0.9% (recalling ~8266 Escapes due to carpeting flaw that may cause breaking issue, according to reports ), LVS -0.6% (Las Vegas Sands was given extension for new Macau casino although company will pay penalty, according to reports), DWA -1.3% (Dreamworks Animation is in discussions with Sony pictures for film distribution, according to reports), MHP -0.7% (Apollo Global Management (APO) explores bid for MHP's education unit, according to reports).
Analyst related: Upgrades: HOT flat (upgraded to Buy at MKM Partners), EAT 2.1% (upgraded to Neutral from Underweight at Piper Jaffray), SIRI 0.5% (upgraded to Equal Weight from Underweight at Barclays), SVU 3% (upgraded to Neutral from Sell at Goldman), KKD 4% (upgraded to Overweight from Equal Weight at boutique firm)... Downgrades: DF -2.7% (downgraded to Market Perform from Outperform at BMO Capital), BUD -1.2% (downgraded to Market Perform from Outperform at Bernstein), SONC -6.7% (downgraded to Neutral from Overweight at Piper Jaffray), PNRA -1.6% (downgraded to Underweight from Overweight at Piper Jaffray), MJN -3.3% (downgraded to Sector Perform from Outperform at RBC Capital), TSN -0.9% (downgraded to Underperform from Buy at Credit Agricole), BID -4.4% (downgraded to Hold from Buy at Craig Hallum), CCO -7.3% (downgraded to Below Average at Caris & Company)... Misc: DAN -0.9% (initiated with a Neutral at Lazard), MTOR -2.2% (initiated with a Neutral at Lazard), PCLN -0.7% and EXPE flat (initiated with an Overweight at Atlantic Equities), SKUL 4.6% (initiated earlier with a Buy at Sidoti), DECK -0.7% (Hearing cautious mention at OTR Global Research related to Q2 Ugg sales).
