EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is also in the redwith the Retail HOLDRS Trust (RTH) -0.9% and the SPDR S&P Retail ETF (XRT) -1.6%.
Near unchanged mark following guidance: HSY Other notable mentions: PFCB flat (announce amendment to merger agreement; PF Chang's and Centerbridge Partners announce pricing of $300 mln of 10.25% senior notes due 2020 of Wok Acquisition Corp), JACK flat (positive mention on MadMoney), YELP flat (new iPhone maps feature will include a feature called 'Yelp Check-In', according to reports), Leaders: BUD 1.6% (Anheuser-Busch InBev is close to purchasing rest of Modelo for $12 bln, according to reports), STZ 8% (higher following BUD reports, Stifel notes speculation of Modelo notifying Constellation that it is buying Constellation's 50% stake in their U.S. JV)... Laggards: CMCSA -1% (announces redemption of $575 mln of 6.625% senior notes due may 2056 ), SODA -1.1% (SodaStream CEO, Daniel Birnbaum, issues statement regarding Coca-Cola's threatened lawsuit), DNKN -1.2% (to increase legal reserve in Q2 related to court decision in Canada).
Analyst related: Upgrades: NFLX 1.9% (upgraded to Neutral from Sell at Janney Montgomery Scott), ETH 0.9% (upgraded to Strong Buy from Market Perform at Raymond James), SJR 0.4% (upgraded to Neutral from Underperform at Macquarie)... Downgrades: AN -3.8% (downgraded to Sell from Hold at Deutsche Bank), CAKE -2.3% (downgraded to Underperform from Neutral at boutique firm), DRI -1.5% (downgraded to Underperform from Neutral at boutique firm), SMBL -0.4% (Hearing downgraded at Sidoti)... Misc: KORS -0.5% (initiated at Telsey; tgt $51), MGM -1.3% (Hearing positive mention at Deutsche Bank).
