EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.8% and the SPDR S&P Retail ETF (XRT) 1.1%. A few casino/gaming names are seeing early strength. Some names trading higher include: LVS +3.04% and WYNN +2.81% (despite estimates lowered at Lazard to reflect Macau slowdown), PNK +2.51%, MPEL +2.21%, BYD +2.15%, MCRI +2.11%, AERL +1.96%, ISLE +1.86%, WMS +1.80%, IGT +1.17%, PENN +0.91%. Trading higher following earnings/guidance: HOV +20%, OXM +12%, ULTA +6.7%, MTN +2.9%, HD +1.4%... Trading lower following earnings/guidance: TPX -40.7%, MFRM -18.5%, BOBE -5.5%.
Other notable mentions: Leaders: CSTR 3.2% (Coinstar and Seattle's Best Coffee sign exclusive agreement to roll out thousands of the new Rubi kiosks in grocery, drug and mass channels), DG 2.6% (prices 30 mln share secondary public offering of common stock at $46.75 per share; Barron's discusses positive view), NWSA 0.9% (announced that its unit will buy 50% equity interest in ESPn STAR Sports), LOW 1.6% (Barron's reviews positive view on Lowe's), SHO 1% (enters into agreement to sell the 284-room Marriott Del Mar for $66 mln), TUES 3.5% (Becker Drapkin Management discloses 5% stake in 13D), SHLD 2.6% (ESL Partners files amended 13D; lock-up agreement with Crowley has been terminated), GMCR 4.1% (Green Mtn Coffee modestly higher following Bloomberg report suggesting potential M&A), MWW 1.7% (Eagle Asset Management discloses 11.24% stake in 13G), TSN 0.4% (files for debt securities and related guarantees shelf offering). Analyst related: Upgrades: DKS 5.2% (upgraded to Outperform from Market Perform at Wells Fargo), GRPN 5.8% (upgraded to Hold from Sell at Stifel Nicolaus), RYL 7.6% (upgraded to Outperform from Neutral at Credit Suisse), PHM 6.7% (upgraded to Outperform from Neutral at Credit Suisse), TTM 6% (upgraded to Hold from Sell at Deutsche Bank), VRA 8.5% (Vera Bradley upgraded to Buy from Hold at KeyBanc)... Downgrades: SHW -0.7% (downgraded to Underperform from Neutral at BofA/Merrill).
