EmailThe consumer discretionary group is slightly underperforming 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%. A few QSR/restuarant names are seeing early strength. Some names trading higher include: YUM +2.6%, BKW +1.7%, CMG +1%, WEN +1%, BWLD +1%, RT +0.9%, MCD +0.6% (reported comps before the open), PNRA +0.6%, DRI +0.6%, BJRI +0.2%, CAKE +0.4%. Select Burberry retail peers are under pressure in early trade. A few names trading lower include: BURBY -20.8%, RL -3.3%, TUMI -3.1%, KORS -1.6%, TIF -1%, FOSL -0.9%, SKS -0.4%, JWN -0.2%, COH -0.1%. Trading higher following earnings/guidance/comps: CASY +6.4%, APP +5.6%, URBN +1.5%, MCD +0.6%... Trading lower following earnings/guidance: BURBY -19.9%, UNFI -9.9%, FIVE -6.9%, COOL -4.6%, OSH -2.8%. Other notable mentions: WAG flat (announces pricing of $4 bln senior notes offering )... Leaders: GMCR 4.5% (Luigi Lavazza S.p.A. discloses 6.8% stake in 13D filing yesterday out near the close; firm made new purchases to reaffirm its position as a significant minority stockholder ), DNKN 2.1% (Lone Pine Capital discloses 6.7% stake in 13G filing out last night after the close; Wellington reports 10.44% position in seperate filing), SHO 1.2% (agrees to sell three hotels, amends and restates its senior unsecured revolving credit facility)... Laggards: ZNGA -2.5% (disclosed Jeff Karp Chief Marketing and Revenue Officer resigned), DMND -1.4% (NASDAQ panel extends listing of Diamond Foods common stock), DDMG -7.7% (advances strategic realignment through Chapter 11 and CCAA filing; Searchlight Capital to acquire Digital Domain Productions, including Mothership Media for $15 mln).
Analyst related: Downgrades: SIRI -0.6% (downgraded to Sell from Hold at Gabelli)... Misc: CMCSA 0.5% (initiated with Buy at Janney), WMT 1.1% (tgt raised to $80 from $75 at Credit Suisse), BBBY 1.7% (Hearing positive mention at Cleveland Research).
