EmailSector Summary: S&P Consumer Discretionary Index +0.9%, modestly underperforming the strong broader market The consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust (RTH) 1.3% and the SPDR S&P Retail ETF (XRT) 1.5%. Trading higher following earnings/guidance: STZ +19.5%, SWHC +12.5%, FINL +6.6%, KBH +6.3%... Trading lower following earnings/guidance: NKE -10.6%.
Other notable mentions: AOL flat (Names Artie Minson as COO), IBI flat (Interline Brands announces expiration of the 'Go-Shop' period), MPAA flat (Motorcar Parts of America to delay fiscal 2012 filing), Leaders: KGJI 30.5% (has decided to postpone its proposed public offering of common stock described in its preliminary prospectus supplement filed with the Securities and Exchange Commission on June 28, 2012), NWY 2.4% (announced that Laura Weil has joined the Company, as Executive Vice President, COO), LEE 1.2% (Lee Enterprises decides against reverse stock split ), LRN 1.1% (appoints Nathaniel Davis as Chairman), BUD 3.9% (Anheuser-Busch InBev to acquire remaining stake in Grupo Modelo for $9.15 per share, transaction valued at $20.1 bln), FDO 0.4% (positive mention in Barron's), BBBY 2.5% (positive mention on MadMoney, upgraded to Buy from Hold at BB&T)... Laggards: F -2.7% (disclosed op update).
Analyst related: Upgrades: SKS 3.4% (upgraded to Overweight from Neutral at JP Morgan), MTN 4.2% (upgraded to Buy from Neutral at BofA/Merrill), EHTH 4.2% (upgraded to Buy from Neutral at BofA/Merrill)... Downgrades: TTM 1.7% (downgraded to Neutral from Buy at BofA/Merrill), CZR -0.3% (downgraded to Underperform from Neutral at BofA/Merrill)... Misc: SJM 0.8% (initiated with a Buy at Davenport).
