Stocks Soar After Inflation Data: 5 Best Stock Gainers

• The Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all increased on Thursday after a crucial inflation measure revealed slower than expected annual inflation increases.
• Capri Holdings Ltd (NYSE: CPRI) was acquired by Tapestry, the parent company of Coach, in a strategic move to gain more influence in the European market.
• Software company Applovin Corp (NASDAQ: APP) experienced a 25% jump in after-hours trading due to its second quarter surprise swing in profit and better-than-expected revenue.

Stocks Increase Following Slower Inflation

WISCONSIN (CoinChapter.com) — Stocks increased on Thursday after a crucial inflation measure revealed slower annual inflation increases than anticipated. The Dow Jones Industrial Average increased by 0.7%. The Nasdaq Composite increased by 0.8%, while the S&P 500 increased by 0.8%.

Capri Holdings Acquired By Tapestry

Tapestry, the renowned parent company of luxury retailer Coach, has decided to acquire Capri Holdings Ltd (NYSE: CPRI), which owns illustrious fashion brands such as Michael Kors, Versace, and Jimmy Choo. The acquisition is valued at approximately $8.5 billion and is touted as a strategic move for Tapestry to gain more influence in the European market. As a result of this deal, Tapestry can more effectively compete with industry heavyweights like LVMH and Kering. The combined entity is expected to generate robust global annual sales.

Holley Inc Financial Results

Holley Inc (NYSE: HLLY), a prominent player in the performance automotive industry , has unveiled its financial results for the second quarter ending July 2, 2023. Net sales saw a minor decrease of 2.3%, falling to $175 million from last year’s $179 million with gross profit also declining 7% to $69 million with an overall gross margin of 39%. Net income stood at $13 million or $0 per diluted share compared to last year’s net income of 41$ million or 35 cents per diluted share but shareholders were pleased that adjusted net income rose from 13$million to 16$million pushing stock up 23% today .

Applovin Experiences Jump In After Hours Trading

Shares of software company Applovin Corp (NASDAQ: APP) experienced a significant increase, jumping 25% in after-hours trading on Wednesday due to its second quarter surprise swing in profit and better-than-expected revenue resulting from successful rollout of new advertising product . Profits were recorded at 22 cents per share versus 6 cents per share loss reported during same period last year while revenue fell 3 % to 750$.

Conclusion

Stock markets saw an increase on Thursday driven by news about lower than expected inflation rates while other companies had different results depending upon their respective sectors .Capri holdings was acquired by tapestry and holley inc released its Q1 financial report followed by applovin corp experiencing significant jump due ot better then expected profits