EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is mixed with the Retail HOLDRS Trust (RTH) 0.1% and the SPDR S&P Retail ETF (XRT) -0.3%.
Trading higher following earnings/guidance: MSG +7.7%... Trading lower following earnings/guidance: SCVL -4.8%, BEBE -2.9%. Other notable mentions: Leaders: AMZN 0.7% (Amazon.com announces expanded prime video agreement with NBCUniversal Cable & new media distribution), SJM 0.4% (discloses share repurchase plan established in accordance with Rule 10b5-1), EKDKQ 12.2% (Eastman Kodak initiates sales processes for personalized imaging and document imaging businesses; discussions continue on patent portfolio, which may be sold or retained), EAT 0.4% (announced 25% dividend increase and additional $500 mln share repurchase program)... Laggards: ELY -5.2% (announces exchange transactions in connection with convertible preferred stock and private placement Of 3.75% Convertible Senior Notes due 2019 ), SSI -1.1% (increases quarterly dividend to $0.10 per share from $0.09 per share).
Analyst related: Upgrades: AEO -0.3% (upgraded to Neutral from Underperform at BofA/Merrill), TRIP 1.7% (upgraded to Buy from Neutral at Citigroup)... Downgrades: BIG -0.5% (downgraded to Hold at The Benchmark Company), SPLS -1.5% (downgraded to Equal Weight from Overweight at Morgan Stanley), SCVL -5.6% (downgraded to Neutral from Buy at Sterne Agee).
