EmailThe consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.6% and the SPDR S&P Retail ETF (XRT) -1.3%. Trading lower following earnings/guidance: CASY -10.6%, WPPGY -2.8%. Other notable mentions: AMZN flat (announced a licensing agreement with Metro-Goldwyn-Mayer Studios), HMC flat (planning 50K Civic recall due to driveshaft related issue, according to reports).
Leaders: MPAA 5.4% (filed for a shelf offering for ~1.94 mln shares of common stock by selling securityholders), SGMS 0.5% (agreed to assist the Commonwealth of Pennsylvania in its potential procurement of a private management agreement for Pennsylvania Lottery), SVU +1% (Bloomberg discusses that SVU's low valuation may attract LBO bidders).
Laggards: SKS -1% (files mixed securities shelf offering), CECO -1.6% (announces that the Accrediting Commission of Career Schools and Colleges voted to direct 10 Career Education institutions to show cause as to why their accreditation should not be withdrawn), LVS -0.7% (announced president and COO has signed a new contract), TLB -2.5% (Talbots and Sycamore Partners agree to extend date for commencement of tender offer by two days), TFM -0.5% (priced a secondary offering of ~10.03 mln shares of its common stock at $50.50/share), LGF -0.5% (IMAX and LGF announced that The Hunger Games: Catching Fire, the second film will be released in the immersive IMAX format on November 22, 2013).
Analyst related: Downgrades: MCD flat (downgraded to Neutral from Buy at Goldman), EXPE -3.2% (downgraded to Neutral from Buy at Lazard), SHW -1.4% (downgraded to Neutral at boutique firm)... Misc: HSY 1.2% (added to Conviction Buy List at Goldman), PETM flat (initiated with an Overweight at Morgan Stanley), PIR flat (initiated with a Buy at Jefferies).
