These 2 Stocks Were in Style and Got All the Love Early Thursday
The stock market got off to a strong start Thursday morning, as major stock market benchmarks climbed as much as 1% at the open. Investors were generally pleased as year-over-year consumer inflation levels continued to move lower, reaching just 3.2% as of the latest reading from July that the Bureau of Labor Statistics just released. Even though that's still above the 2% target that the Federal Reserve continues to pursue, most market participants are content that favorable trends remain in place.
The biggest stock movers Thursday morning had company-specific news lifting their shares. Capri (NYSE: CPRI) and AppLovin (NASDAQ: APP) enjoyed big share-price gains early Thursday, and at least in one case, investors have high hopes for what the future will bring. Here are the details about both companies.
Shares of Capri Holdings soared 58% shortly after the open on Thursday morning. The parent company of Michael Kors got a buyout bid from fellow luxury fashion company Tapestry (NYSE: TPR), which is the parent of Coach.
Source Fool.com
