Market-Moving News for October 25th
Portfolio Pulse from Benzinga Newsdesk
Capri Holdings shares fell 54% after a judge blocked its acquisition by Tapestry, which plans to appeal. Tapestry shares rose 17% on the news. Coursera shares dropped 26% due to lower-than-expected Q4 revenue guidance and reduced FY24 revenue guidance, with price target cuts from Morgan Stanley and Needham.
October 25, 2024 | 12:17 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Tapestry shares rose 17% after a judge blocked its acquisition of Capri Holdings. The company plans to appeal the decision.
The market reacted positively to the news of the blocked acquisition, possibly due to perceived benefits of not proceeding with the deal. The appeal indicates ongoing interest.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Coursera shares fell 26% after issuing Q4 revenue guidance below estimates and cutting FY24 revenue guidance. Morgan Stanley and Needham lowered their price targets.
The lower-than-expected revenue guidance and subsequent price target cuts by major analysts are significant negative factors, leading to a sharp decline in Coursera's stock price.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Capri Holdings shares dropped 54% after a judge blocked its acquisition by Tapestry. The company plans to appeal the decision.
The blocking of the acquisition is a significant negative event for Capri Holdings, leading to a sharp decline in its stock price. The appeal process adds uncertainty.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100