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Last Update: 04-Jan-13 09:42 ET
S&P Consumer Discretionary Index flat, in-line with the broader market
The consumer discretionary group is in-line with the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust (RTH) 0.2% and the SPDR S&P Retail ETF (XRT) 0.1%. Trading higher following earnings/guidance: SHLM +3.5%, AN +1.1%... Trading lower following earnings/guidance: SONC -4.8%, ULTA -3.4%, FINL -3%, WAG -0.7% Other notable mentions: LMCA and SIRI (Liberty Media announces FCC approval of application for de jure control of SiriusXM)... Leaders: SBUX 0.9% (Starbucks is trying to win control of bankrupt Tully's Coffee, according to reports)... Laggards: CSTR -6.6% (announces executive leadership succession plan; Board appointed J. Scott Di Valerio, currently CFO, as the Co's next CEO; reaffirms Q4 guidance; core diluted EPS from continuing operations trending at or above the high end of the range), F -0.6% (announces redemption of its NYSE-Listed 7.50% notes due June 10, 2043), GM -1.8% (upcoming bankruptcy ruling could make the company face charges of $918 mln, according to reports) Analyst related: Upgrades: URBN 0.9% ( upgraded to Outperform from Neutral at Credit Suisse), TGT 0.2% ( upgraded to Outperform from Neutral at Credit Suisse), ZQK 7.3% ( upgraded to Buy from Neutral at Goldman), AVP 3.9% (upgraded to Buy from Neutral at BofA/Merrill), TXRH 3.8% ( upgraded to Buy from Hold at Deutsche Bank), HRL 1.4% (upgraded to Outperform from Underperform at Credit Agricole)... Downgrades: DOLE -2% (downgraded to Underperform from Buy at BofA/Merrill), ALV -1.9% (downgraded to Neutral from Buy at Buckingham Research)... Misc: KKD 7.9% (initiated with Buy at Longbow)
The consumer discretionary group is in-line with the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust