Tapestry Stock News

NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that it entered into Accelerated Share Repurchase (“ASR”) agreements with Bank of America N.A. and Morgan Stanley & Co. LLC (the “Dealers”) to repurchase $2.0 billion shares of Tapestry common stock. The ASRs will be comp...

Tapestry announced it is canceling the acquisition of Capri Holdings, after the two companies lost their fight against the FTC's opposition to the merger.

Major U.S. equities indexes slipped on Thursday as the latest Producer Price Index report revealed that wholesale prices increased in October at their steepest rate in three months and Fed Chair Jerome Powell said there wasn't a "hurry" to cut interest rates.

Tapestry Inc (NYSE:TPR) stock was last seen up 12.8%  to trade at $57.81, leading the S&P 500 Index (SPX) today.

US stocks fell on Thursday as investors sought to regain the postelection momentum that had previously driven major indexes to record highs. The Dow Jones Industrial Average dropped 165 points, or 0.3%.

The proposed merger that would've combined six luxury brands owned by Capri and Tapestry was abandoned by the companies due to regulatory challenges posed by an FTC lawsuit.

Shares of Tapestry (TPR) surged Thursday morning while Capri Holdings (CPRI) stock slipped after the parent companies of a number of luxury brands called off their planned merger over ongoing legal challenges.

US stocks are set for a mixed but mostly higher open on Thursday, as the dollar adds to its post-election gains. Futures for the main Wall Street indexes are modestly higher, led by the Russell 2000, up 0.4% as the Trumpian rally in small-caps continues.