EmailThe consumer discretionary group is slightly outperforming the broader market in early trade. The retail group is also in the green with the Retail HOLDRS Trust (RTH) 0.4% and the SPDR S&P Retail ETF (XRT) 0.1%.
Trading higher following earnings/guidance: APOL +8.8% (Education peers are also trading higher: STRA +5.5%, ESI +3.2%, DV +2.93%, APEI +2.65%, LINC +2.39%, CECO +2.18%, LOPE +2.03%, EDU +1.93%, EDU +1.93%, BPI +1.88%, WPO +0.72%), SPAR +0.4%.
Other notable mentions: BID flat (Sotheby's's real estate unit plans to start business in China in mid-2013, according to reports), KO flat (plans over $5 bln in India investments in 2020), NFLX flat (closed captioning lawsuit to proceed, according to reports)... Leaders: NWSA 7.4% (considering splitting its publishing assets and its entertainment business, according to reports), ZNGA 2.4% (trading higher ahead of its webcast Zynga Unleashed 2012 at 1:30pm ET), PLCE 2.2% (Children's Place to open retail stores in Saudi Arabia, to open retail stores in Arab Gulf States), LEN 2.3% (Lennar is in discussions with China Development Bank about raising $1.7 bln in new capital, according to reports)... Laggards: TSLA -3% (early weakness attributed to pricing of block trade).
Analyst related: Upgrades: AZO -1.4% (upgraded to Buy from Hold at Deutsche Bank), CCSC 2.1% (upgraded to Hold from Sell at Maxim)... Misc: EBAY 1.5% (initiated with a Buy at Needham), GCI 3% (initiated with a Outperform at Imperial Capital).
