RELATIVE CO-MOVEMENT
SPY-adjustedHow the members are behaving together
Group median -1.12Strongest path IHGWeakest path CALY
Observed member paths adjusted against SPY. The median is emphasized; shading marks the latest observation window.
MARKET-DISCOVERED GROUP
Apparel and Leisure
This recurring market theme is inactive in the latest market snapshot.
Participation8 of 1650% active now
DirectionMixed22% agreement—not a clean directional move
Outside confirmation2 of 8filing-linked outsiders moving with the group
Observed history4 episodes8 active sessions
01 · WHAT IS HAPPENING
The move and its drivers
02 · WHY IT MATTERS
The business context around the move
WHY THIS GROUP EXISTS
14/16 members coveredShared filing context
Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across CALY, GM, H, LEVI, OSW, VFC.
credit / rates affecting interest expense
“The increase in non-GAAP net income from continuing operations was primarily due to a $28.2 million increase in segment operating income combined with lower interest expense, partially offset by an increase in the income tax provision.”
CALY 10-Q · 2026-08-04
restructuring
“As a result of our intangible asset impairment assessment performed as of December 31, 2025 , we determined that the fair value of our Topgolf tradename was impaired, and as a result, we recorded an impairment loss of $284.0 million to write down the Topgolf tradename to its new estimated fair value.”
CALY 10-K · 2026-02-27
restructuring affecting expense
“The $2.4 million (1.4%) increase in SG&A expenses for the three months ended June 30, 2026 was primarily due to a $2.9 million increase in advertising and promotional expenses driven largely by the timing of advertising spend and $1.5 million of impairment charges related to the planned closure of certain underperforming TravisMathew retail locations, partially offset by reduced employee costs from cost savings initiatives and lower tour expenses.”
CALY 10-Q · 2026-08-04
WHERE IT COULD SPREAD
2 confirming nowFiling-linked outsiders
Companies outside the group that have disclosed links to its members. Their current state is a confirmation check, not a forecast.
WHMoving with group
TNL · customer
Filing receipt
“The Wyndham Hotels loyalty program, Wyndham Rewards, had approximately 121 million enrolled members as of September 30, 2025, many of whom fit our target new-customer de…”
RUSHAMoving with group
F · customer
Filing receipt
“The Truck Segment includes our operation of a network of commercial vehicle dealerships under the name “Rush Truck Centers.” Rush Truck Centers primarily sell commercial…”
DCHCurrent read unavailable
F · customer
Filing receipt
“Sales to Ford were approximately 11% of our consolidated net sales for the first three months of 2026 and 15% for both the first three months of 2025 and the full year 2…”
FOXFCurrent read unavailable
F · customer
Filing receipt
“In 2025, 2024, and 2023, our sales to Ford, a powered vehicles OEM, accounted for approximately 12%, 15%, and 13%, of total net sales, respectively.”
03 · WHO IS IN IT
Member participation
CALYLEVITNLZGNIHGFHGVBURLGMHLTMARAPTVASOHOSWVFC
8/16 active2 rising · 14 falling
MemberUnusual activityToday's moveRead now
CALYCallaway Golf Company
Most unusual
-9.1%
Most unusualActive; direction differs
LEVILevi Strauss & Co
Elevated
-1.7%
ElevatedActive; direction differs
TNLTravel Leisure Co.
Elevated
-0.7%
ElevatedActive; direction differs
ZGNErmenegildo Zegna N.V.
Elevated
-2.5%
ElevatedActive; direction differs
IHGIntercontinental Hotels Group
Elevated
-0.8%
ElevatedActive; direction differs
FFord Motor Company
Elevated
-2.4%
ElevatedActive; direction differs
HGVHilton Grand Vacations Inc.
Elevated
-1.4%
ElevatedActive; direction differs
BURLBurlington Stores, Inc.
Elevated
+0.6%
ElevatedActive; direction differs
GMGeneral Motors Company
Quiet
-2.5%
QuietBreadth test
HLTHilton Worldwide Holdings Inc.
Quiet
-0.9%
QuietBreadth test
MARMarriott International
Quiet
-0.5%
QuietBreadth test
APTVAptiv PLC
Quiet
-1.5%
QuietBreadth test
ASOAcademy Sports and Outdoors, In
Quiet
-1.1%
QuietBreadth test
HHyatt Hotels Corporation
Quiet
+0.1%
QuietBreadth test
OSWOneSpaWorld Holdings Limited
Quiet
-0.2%
QuietBreadth test
VFCV.F. Corporation
Quiet
-3.2%
QuietBreadth test
View exact member values
| TICKER | Company | Role now | Today | Trader interpretation |
|---|---|---|---|---|
| CALY | Callaway Golf Company | Most unusual | -9.1% | Most unusual activity in this snapshot; performance direction may differ. |
| LEVI | Levi Strauss & Co | Participating | -1.7% | Active, but the group has not aligned on direction. |
| TNL | Travel Leisure Co. | Participating | -0.7% | Active, but the group has not aligned on direction. |
| ZGN | Ermenegildo Zegna N.V. | Participating | -2.5% | Active, but the group has not aligned on direction. |
| IHG | Intercontinental Hotels Group | Participating | -0.8% | Active, but the group has not aligned on direction. |
| F | Ford Motor Company | Participating | -2.4% | Active, but the group has not aligned on direction. |
| HGV | Hilton Grand Vacations Inc. | Participating | -1.4% | Active, but the group has not aligned on direction. |
| BURL | Burlington Stores, Inc. | Participating | +0.6% | Active, but the group has not aligned on direction. |
| GM | General Motors Company | Quiet / lagging | -2.5% | Not participating yet; a breadth test or a genuine divergence. |
| HLT | Hilton Worldwide Holdings Inc. | Quiet / lagging | -0.9% | Not participating yet; a breadth test or a genuine divergence. |
| MAR | Marriott International | Quiet / lagging | -0.5% | Not participating yet; a breadth test or a genuine divergence. |
| APTV | Aptiv PLC | Quiet / lagging | -1.5% | Not participating yet; a breadth test or a genuine divergence. |
| ASO | Academy Sports and Outdoors, In | Quiet / lagging | -1.1% | Not participating yet; a breadth test or a genuine divergence. |
| H | Hyatt Hotels Corporation | Quiet / lagging | +0.1% | Not participating yet; a breadth test or a genuine divergence. |
| OSW | OneSpaWorld Holdings Limited | Quiet / lagging | -0.2% | Not participating yet; a breadth test or a genuine divergence. |
| VFC | V.F. Corporation | Quiet / lagging | -3.2% | Not participating yet; a breadth test or a genuine divergence. |
04 · HAS THIS HAPPENED BEFORE