EmailThe consumer discretionary group is in-line with the broader market in early trade. The retail group is higher with the Retail HOLDRS Trust (RTH) 0.2% and the SPDR S&P Retail ETF (XRT) 0.3%. Trading higher following earnings/guidance: RUE +8.1%, HAS +0.5%... Trading lower following earnings/guidance: TLB -34.4% (also said did not reach merger agreement with Sycamore). Other notable mentions: RAD flat (filed for a mixed securities shelf offering for an undisclosed amount by co and selling stockholders), Leaders: GRPN 1% (Groupon reportedly testing a credit card reader that would rival Square, PayPal), CMCSA 0.6% (NBCU is reportedly in talks with MSFT to buy back its MSNBC.com stake)... Laggards: CBK -1.5% (files $75 mln mixed securities shelf offering), IHG -0.8% (discloses Patrick Cescau will become Chairman upon David's retirement), PAG -1.2% (announces redemption of 3.5% Senior Subordinated Convertible Notes due 2026).
Analyst related: Upgrades: ITW 1.1% (upgraded to Overweight from Neutral at JPMorgan), DORM 3.6% (upgraded to Buy from Hold at BB&T), CRI 1.9% (upgraded to Buy from Neutral at Citigroup), CBRL 0.2% (upgraded to Buy from Hold at Argus)... Downgrades: HNZ -0.7% (downgraded to Neutral from Overweight at JPMorgan, downgraded to Hold from Buy at Jefferies), LULU -0.5% (downgraded to Hold from Buy at KeyBanc), VIAB -0.5% (downgraded to Above Average from Buy at Caris)... Misc: ZZ +3%, SCSS +7% and TPX +6.3% seeing early strength; Hearing positive mention at Piper... GPC -0.3% (initiated with a Hold at Wunderlich), FB -1.6% (initiated with a Hold at Capstone).
