Cantor Morning News

Consumer Discretionary stocks led the way up 1% and outperformed the broad tape. CWTR was up 47% to lead all retailers on earnings and guidance. AEO as we pointed out yesterday should move up barring any disasters was up nearly 8% and other notables TLB, CHS, JWN and JCP were all up nicely. I do not want to put a damper in things because the group is battered and ready to have some relief, but these same stocks are all down from depressed levels. The up 2-5% is no real consequence for these names when they are down 10-20% for the month from much higher levels. GES reported a good number after the close last night, but once again guidance has been an issue and the stock is down 6% as a result.

Macro/Technicals

SPX: 1055.33; +.33%
RLX: 405.18; +.84%
RTH: 89.01; +1.18%
XLY: 30.41; +1.03%
XLP: 26.72; +.23%
VIX: 26.71; -2.77%

Leaders: CWTR, COCO, OWW, WTSLA, AEO, FBN, ETH, LZB, BKS, BJ, SHLD
Laggards: BWS, DLIA, DMND, BEBE, BGP, NWY, DSW

Earnings

RGS Regis reports Q4 EPS $0.34 ex-items vs Reuters $0.37 ($17.13). Company previously reported revenue of $589.9M on 9-Jul.

GES Guess? reports Q2 EPS $0.72 vs Reuters $0.68 ($38.25). Company reports revenues of $577.1M vs Reuters $576.4M. Guides Q3 revenues $565-580M vs Reuters $566.5M; operating margin ~13.5%; EPS $0.55-0.58 vs Reuters $0.57. Guides full year revenues $2.35-2.40B vs Reuters $2.39M; operating margin ~16.0%; EPS $2.80-2.85 vs Reuters $2.94.

JAS Jo-Ann Stores reports Q2 EPS $0.20 vs Reuters $0.02 ($36.80). 2010 Guidance: EPS $3.20-3.35 vs prior guidance $2.95-3.10 and Reuters $3.23

TIVO TiVo reports Q2 EPS ($0.13) vs Reuters ($0.15) ($8.46). Company reports revenues of $42.1M vs Reuters $42.2M. Guides Q3 revenues to $40-42M vs Reuters $41.8M.

SCVL Shoe Carnival reports Q2 EPS $0.28 ex-items ($18.81). Q3 Guidance:EPS $0.63-$0.66 vs Reuters $0.63. Revenues to $196M-$202M vs Reuters $195.4M. Full Year Guidance: EPS $1.89-$1.95 vs Reuters $1.89. Revenues $728-$737M vs Reuters $728.5M.

RUE Rue21 reports Q2 EPS $0.26 vs Reuters $0.25 ($23.62). Company reports revenues of $143.0M vs Reuters $151.5M. Guidance:Guides Q3 EPS to $0.25-0.27 vs Reuters $0.28; Reaffirms full year EPS to $1.14-1.19 vs Reuters $1.18.

COHM All American Group reports Q2 EPS ($0.47) vs year-ago ($0.21) ($0.37). Company reports revenues of $19.6M vs year-ago $17.7M.

HAIN Hain Celestial reports Q4 EPS $0.26 ex-items vs Reuters $0.24 ($20.65). Company reports revenues of $222.8M vs Reuters $223.7M. Guides FY11 EPS to $1.24-1.31 vs Reuters $1.23; guides revenues to $1.025-1.050B vs Reuters $988.7M.

Top Events/Earnings Calendar

Events

BJ Morgan Stanley Store Tour w/BJ's Wholesale @ Pelham Manor NY

Earnings

PRE: CONN, FRED, RGS

POST: BEBE, JCG

Cantor Flows

Flows

Consumer Staples: CPB, DMND, GMCR, HI, K

Consumer Discretionary: AAP, BGFV, HIBB, DKS, SPLS, WFMI

Consumer Services: CECO, SRCL

Pre-Market Movers

UP— JAS +4%

DOWN— GES -6%

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