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Last Update: 02-Jan-13 10:27 ET
S&P Consumer Discretionary Index 1.7%, in-line with the broader market
The 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) 1.2%. A few casino/gaming names are seeing early strength. Some names trading higher include: LVS +6.9%, BYD +4.7%, MPEL +4.5%, WYNN +4.4%, MCRI +4%, UWN +3.9%, MGM +3.6%, PNK +3.5%, ISLE +3%, PENN +2.8%, WMS +2.2%, IGT +2%, AERL +1.6% Other notable mentions: Leaders: ZIP 48.3% and CAR 4% (Zipcar to be acquired by Avis Budget Group for $12.25/share in cash or ~$500 mln; transaction expected to be accretive to CAR's EPS in second year following acquisition; CAR reaffirms FY12 EPS and revenue guidance), ST 2.9% (Martha Sullivan Appointed Chief Executive Officer), CHEF 1.5% (acquires Queensgate Foodservice for $22 mln), AMZN 1.6% (confirms that 2012 was a record-breaking holiday season for businesses selling on Amazon; Third-party selling grew more than 40% y/y), BBY 1.7% (disclosed Monday night that two directors have resigned or retired), HMIN 2.1% (announces Yi Liu new Independent Director and Co-Chairman of the Board of Directors)... Laggards: DOLE -9.2% ( expects the sale of its worldwide packaged foods and Asia fresh businesses to ITOCHU Corporation for $1.685 billion in cash, now to be completed in early 2013) Analyst related: Upgrades: URBN 2.2% (upgraded to Hold from Underperform at Jefferies), WAG 2.9% (upgraded to Outperform from Market Perform at Raymond James), SFD 4.1% (upgraded to Outperform from Market Perform at BMO Capital Markets), MAR 4.4% ( upgraded to Buy from Neutral at Sun Trust Rbsn Humphrey)... Downgrades: TLYS -3.6% (downgraded to Neutral from Overweight at Piper Jaffray), ASNA -2.9% (downgraded to Neutral from Buy at Citigroup), ROST -1% (downgraded to Neutral from Buy at Citigroup), AEO -2.1%, TGT -0.6%, ANN -1% (downgraded to Hold from Buy at Jefferies), SKUL -11.8% (downgraded to Underperform from Buy at Jefferies), LNKD -1.2% (downgraded to Equal Weight from Overweight at Barclays), HOT 2.4% (downgraded to Neutral from Buy at Sun Trust Rbsn Humphrey), KSS -0.9% and JWN -0.3% (downgraded at Buckingham)... Misc: LGF 2.8% (target raised to $21 at B. Riley Caris on re-assessment of EBITDA CAGR)
