Notable Stuff...
Notable earnings/guidance:
Trading higher following earnings/guidance: CASY +6.8%, ISLE +6.4%, LULU +6.1%, PBY +4.3%, PLAY +1.7%
Trading lower following earnings/guidance: ZQK -30.2%, CBK -21.9%, HOV -12%, BURL -10.5%, UNFI -4.3%, ACC -0.9% (gives Q2 update; same store wholly-owned portfolio was 93.3% applied)
Near unchanged mark following earnings/guidance: NWL (reaffirmed guidance)
Notable news:
Leaders: NFLX 1.3% (chatter about BABA investment in the name), SNAK 1.7% (discloses that it currently expects a return to production for a number of its Fresh Frozen branded frozen vegetable products at its Jefferson, Georgia-based facility on or about June 30, 2015)
Laggards: BEBE -17.1% (founder and Chairman Mashouf announces intention to sell 59% ownership stake), SHLD -3.9% (announces that Seritage Growth Properties has commenced a rights offering for ~53.3 mln shares of common stock)
Nearly unchanged: CPB (to acquire the assets and business of Garden Fresh Gourmet for $231 million; expects no effect on FY15 guidance and slight accretion in FY16), WFM (renewed rumor that a prominent investor could be interested in stock)
Notable trends:
HOV is leading homebuilders lower following its earnings report: HOV -11.1%, TMHC -2.6%, MHO -2.6%, WLH -2.4%, TPH -1.8%, MTH -1.6%, RYL -1.7%, DHI -1.2%, MDC -1.1%, ITB -1%, PHM -1%, XHB -1%, BZH -0.9%, LEN -0.8%, SPF -0.8%
Restaurant/QSR names are under pressure in early trade. A few names trading lower include: GRUB -3.3%, NDLS -2.5%, QSR -1.6%, LOCO -2.1%, TAST -1.3%, SONC -1.5%, JACK -1.2%, RUTH -0.8%, HABT -1.9%, EAT -1.1%, CBRL -1.1%, WEN -0.9%, ZOES -1.2%, DIN -0.8%, DRI -0.9%, BWLD -0.9%, KKD -0.3%, SBUX -0.7%, MCD -0.4% (announces the appointment of Silvia Lagnado as Global Chief Marketing Officer)
Analyst related:
Upgrades: CNK 2.4% (upgraded to Buy from Hold at Topeka Capital Markets), DG 0.2% (upgraded to Strong Buy at Raymond James)
Misc: TGT -0.5% SFM -1.7% TFM -1.1% WBA 0.9% CVS flat DG 0.2% (initiated with an Outperform at Macquarie), WMT flat WFM -0.2% KR -0.5% VSI 0.1% SVU -2.7% COST 0.4% (initiated with a Neutral at Macquarie)
