$CPRI

Capri Holdings (CPRI) shares increased by up to 6% on Tuesday following reports that Taylor Swift wore Jimmy Choo heels, a brand owned by the company, during a date night with Travis Kelce.

Tamara Mellon, co-founder of Jimmy Choo, offered to buy back her brand from Capri Holdings for $250M-$600M. Capri, which acquired Jimmy Choo for $1.35B in 2017, rejected the offer. The proposal was made to CEO John Idol and Barclays banker Brett Pickett, according to a source.

Qualcomm (QCOM) is acquiring PickNik to expand in robotics. Capri Holdings (CPRI) rose 10% on potential acquisition interest. Evonik (EVKIY) gained 7.2% after BASF (BASFY) takeover reports. Smurfit Westrock (SW) agreed to buy CMPC's Chilean business for $420M. Brookfield (BN) is in talks to buy Actimize from Nice (NICE) for $2B.

Jefferies reiterated a Hold rating and $16.00 price target for Capri Holdings (CPRI) after reports of potential acquisition interest. The stock trades at $15.20, with a Fair Value of $20.01. CPRI reported better-than-expected Q1 earnings, with adjusted EPS of $0.67 and revenue of $769 million. The company has $1.39 billion in debt but maintains strong profit margins and financial health.

Lennar rose 4% after Berkshire Hathaway bought 2.7M shares. Amgen gained 3% on positive trial results. Grab Holdings jumped 7% after CEO's share purchase. Capri rose 7% amid potential buyout talks. Shopify gained 7% with Meta AI integration. Quest Diagnostics and Labcorp dropped 5.3% and 3.6% on Medicare payment changes. Vicor rallied 14% on strong Q3 guidance. On Holding jumped 10% on new financial targets. GameStop gained 4% after CEO's share purchase.

Capri Holdings (CPRI) shares rose nearly 10% after reports of potential buyer interest, according to Women's Wear Daily. The company, which owns Versace, Jimmy Choo, and Michael Kors, has not confirmed the discussions. This follows the blocked $8.5B acquisition by Tapestry. Capri has faced weaker luxury demand but expects growth acceleration in H2 2024.

Capri Holdings (CPRI) shares rose 13% after a report indicated potential acquirers have reviewed its financials. The company's planned $8.5B acquisition by Tapestry was blocked earlier this year. No specific buyers or advanced discussions were identified. CPRI owns brands like Versace and Michael Kors, facing recent consumer spending challenges.

Capri Holdings, owner of Michael Kors and Jimmy Choo, is reportedly exploring potential sale options, with investors reviewing the company's books. The process is informal, and no near-term deal is expected. Capri's market cap has fallen 40% this year to $1.7B. Michael Kors' Q1 revenue declined 7.1% to $590M, while Jimmy Choo's rose 10.5% to $179M. The company faces $809M in derivative liabilities that could complicate a sale.

Capri Holdings (CPRI) expects Michael Kors to return to growth in the second half of the year, driven by new products and reduced promotions. The company reported improved customer response to new handbag collections and plans to increase marketing spending. Jimmy Choo is expanding into casual footwear and accessories, with expectations of profitability this year.

Capri Holdings Limited (NYSE: CPRI) has been added to the S&P 600 index. The company's stock has seen a 5-day change of 14.75 USD, a 1st Jan change of -1.34%, and a year-to-date change of +6.19%, with a 52-week change of -39.55%.