The consumer discretionary group is underperforming the broader market in early trade. The retail group is also in the red with the Retail HOLDRS Trust (RTH) -0.3% and the SPDR S&P Retail ETF (XRT) -0.6%. Trading higher following earnings/guidance: ZZ +7.1%, HRB +5.4%, LEN +4.4%, MKC +1.1%... Trading lower following earnings/guidance: ORLY -18.2%, GIS -1.6%... Near unchanged mark following earnings/guidance: BWS. CMG is seeing notable weakness. Hearing may be attributed to ongoing lawsuit in California (still checking for details). A few other restaurant peers are turning lower PNRA -2.84% BWLD -1.37% YUM -1.2% CAKE -1.2% TXRH -0.61% EAT -0.6% JACK -0.5% DIN -0.4%.
Other notable mentions: Leaders: GES 2.5% (announces additional $500 mln share repurchase authorization), CQB 2.5% (subsidiary secures amendment to credit agreement ), COCO 1.6% (Corinthian Colleges' analysis indicates that all of the programs excluded from the public data released by Dept. of Education on June 26 passed the gainful employment metrics ), REED 2.3% (announced introduction of its new, organic Reed's Culture Club Kombucha into natural foods and mainstream supermarket channels, initially targeting the west coast, with the rest of the United States shortly thereafter), MPEL 2% (reports out before the open related to Manila deal),IMAX 0.9% (signs 10-theatre revenue share agreement with Frank Theatres), Laggards: CCG -6% (announced the commencement of an underwritten public offering of 6,000,000 shares of its common stock), SHFL -3.6% (announces decision not to proceed with Ongame Network Acquisition).
Analyst related: Upgrades: NWSA 1.3% (upgraded to Buy from Hold at Needham), DWA 3.9% (upgraded to Hold from Sell at Stifel Nicolaus)... Downgrades: HAS -1.6% (downgraded to Sell from Neutral at Citigroup), PG 0.4% (downgraded to Sector Perform from Outperform at RBC Capital), M -2.8% (downgraded to Neutral from Buy at Citigroup), JWN -2% (downgraded to Neutral from Buy at Citigroup), SKS -1.2% (downgraded to Neutral from Buy at Citigroup)... Misc: NWY -1.7% (initiated with a Hold at Capstone), SIRI 1.1% (initiated with an Overweight at Piper Jaffray), ZNGA -6.3% (initiated with a Buy at Stifel Nicolaus).