EmailThe consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is also in the redwith the Retail HOLDRS Trust (RTH) -1.1% and the SPDR S&P Retail ETF (XRT) -1.9%. Select casino/gaming names are under pressure in early trade following Las Vegas Strip data. A few names trading lower include: AERL -5.05%, MGM -3.72%, LVS -3.34%, ISLE -3.1%, MPEL -3.1%, UWN -2.7%, WYNN -2.4%, WMS -2.2%, BYD -2%, PNK -2%, CNTY -1.75%, IGT -1.7%, PENN -1.1%, Trading higher following earnings/guidance: CRRFY +5.6%.
Trading lower following earnings/guidance: SVU -44.4%, ELY -2.8%. Other notable mentions: FINL flat (filed for a shelf offering of ~1.206 mln shares of Class A common stock issuable upon the conversion of Class B common stock by selling shareholders), MSO 3.4% and JCP -1.1% (Martha Stewart will have the right to terminate J. C. Penney's right to sell and distribute such Products on 6 months' prior written notice to J. C. Penney, beginning Feb 1, 2016 ), RICK flat (enters joint venture for topless nightclub in Los Angeles County), Leaders: PG 3.4% (Pershing Square granted early termination by FTC in PG)... Laggards: PTRY -1.4% (announces planned debt refinancing consisting of up to $480 mln of senior secured credit facilities and $250 mln aggregate principal amount of senior notes), DTV -1% (Headlines crossing that DTV and VIA remain 'pretty far apart' on talks according to DTV), BZH -4% (prices its previously announced offering of $300 mln aggregate principal amount of 6.625% Senior Secured Notes due 2018 at par), CMCSA -1.3% (Comcast unit NBC in discussions to buyback Microsoft's (MSFT) stake in MSNBC.com, according to reports), AMZN -1.5% (IMDb announced that its Movies & TV apps for iOS and Android have each been downloaded more than 20 mln times for a total of more than 40 mln), LMCA -1.1% (LIberty Media's John Malone wants control of SIRI, according to reports).
Analyst related: Upgrades: DIS -0.4% (upgraded to Outperform from Market Perform at Wells Fargo), AMCX 0.8% (upgraded to Overweight from Equal Weight at Barclays), ... Downgrades: HRL -2.4% (downgraded to Sell from Neutral at Janney Montgomery Scott), LRLCY -1.7% (downgraded to Sell from Hold at ING Group ), SFD -3.4% (downgraded to Underperform from Buy at BofA/Merrill), FDO -3.4% (downgraded to Underperform from Neutral at BofA/Merrill ), TSN -2.8% (downgraded to Underperform from Buy at BofA/Merrill, downgraded to Underweight from Equal Weight at Morgan Stanley)... Misc: DNKN 0.8% and BKW flat (initiated with an Overweight at Piper Jaffray), CBOU -2.3% (initiated with a Neutral at Piper Jaffray), KOF flat (initiated with an Equal Weight at Barclays), FMX -0.5% (initiated with an Overweight at Barclays), WAG flat (initiated with an Underweight at ISI Group), HSH -0.8% (initiated with a Outperform at Bernstein), LOW -2.3% (Hearing ests cut at Barclays), YUM 0.9% (Hearing OTR Global out cautious on YUM).
