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Last Update: 14-Dec-12 10:17 ET
S&P Consumer Discretionary lower by 0.3%, 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 red with the Retail HOLDRS Trust (RTH) -0.2% and the SPDR S&P Retail ETF (XRT) -0.1%.
Trading lower following earnings/guidance: ZQK -15.2%, ITW -0.5% Other notable mentions: APOL flat (announces Dr. John G. Sperling will retire as executive chairman; names Peter V. Sperling chairman), ORLY flat (announces Ted Wise will transition from position as COO and Co-President to Executive Vice-President of Expansion), LMCA flat (trying to feel out possible buyers for Starz, according to reports) ... Leaders: OEH 1.7% (selling two non-strategic properties for a total of $45.0 million in cash), DMND 1% (announces date of conference call to review financial results for the fourth quarter and full year fiscal 2012 and the first quarter of fiscal 2013), CCI 0.5% (Crown Castle increases revolving credit facility to $1.5 bln from $1.0 bln), KOF 1.4% (signs a definitive agreement to acquire 51% of Coca-Cola's Philippines' bottling operation)... Laggards: BBY -17.4% (Best Buy confirms Board and founder Richard Schulze agree to amend August 26th cooperation agreement), WYNN -1.1% (Wynn Resorts takes actions to streamline Board: will ask shareholders to remove Okada; downgraded to Neutral from Buy at UBS), NKE -0.4% (Nike may expand outside of Oregon if it does not get a tax break, according to reports).
Analyst related: Upgrades: CVS 1.8% (upgraded to Outperform from Neutral at Macquarie, mentioned positively at Lazard following analyst meeting )... Downgrades: ZUMZ -5.5% (downgraded to Underperform at BofA/Merrill)... Misc: BKW -0.4% (initiated with a Neutral at BofA/Merrill ), ANGI 2.3% ( initiated with a Buy at Needham), CSTR -2.7% ( early weakness attributed to cautious ITG Research comments), ABG 0.3% and SAH 0.5% (initiated before the open with a Hold at BB&T Capital Mkts), LAD 1.9% (initiated with a Buy at BB&T Capital Mkts before the open)
Trading lower following earnings/guidance: ZQK -15.2%, ITW -0.5% Other notable mentions: APOL flat (announces Dr. John G. Sperling will retire as executive chairman; names Peter V. Sperling chairman), ORLY flat (announces Ted Wise will transition from position as COO and Co-President to Executive Vice-President of Expansion), LMCA flat (trying to feel out possible buyers for Starz, according to reports) ... Leaders: OEH 1.7% (selling two non-strategic properties for a total of $45.0 million in cash), DMND 1% (announces date of conference call to review financial results for the fourth quarter and full year fiscal 2012 and the first quarter of fiscal 2013), CCI 0.5% (Crown Castle increases revolving credit facility to $1.5 bln from $1.0 bln), KOF 1.4% (signs a definitive agreement to acquire 51% of Coca-Cola's Philippines' bottling operation)... Laggards: BBY -17.4% (Best Buy confirms Board and founder Richard Schulze agree to amend August 26th cooperation agreement), WYNN -1.1% (Wynn Resorts takes actions to streamline Board: will ask shareholders to remove Okada; downgraded to Neutral from Buy at UBS), NKE -0.4% (Nike may expand outside of Oregon if it does not get a tax break, according to reports).
Analyst related: Upgrades: CVS 1.8% (upgraded to Outperform from Neutral at Macquarie, mentioned positively at Lazard following analyst meeting )... Downgrades: ZUMZ -5.5% (downgraded to Underperform at BofA/Merrill)... Misc: BKW -0.4% (initiated with a Neutral at BofA/Merrill ), ANGI 2.3% ( initiated with a Buy at Needham), CSTR -2.7% ( early weakness attributed to cautious ITG Research comments), ABG 0.3% and SAH 0.5% (initiated before the open with a Hold at BB&T Capital Mkts), LAD 1.9% (initiated with a Buy at BB&T Capital Mkts before the open)
