The stock market is trading higher midday. The S&P 500 added 0.27% while the tech-heavy Nasdaq Composite climbed 0.
96%. The Dow Jones Industrial Average lost 0.42%.
The Russell 2000 Index rose 0.1%. S&P 500 big stock movers today Five S&P 500 stocks making big midday moves are: The worst-performing five S&P 500 stocks with the largest midday drop are: Stocks also worth noting include: Brandon Bell/Getty Images Coach parent soars while Michael Kors stock price halves Coach owner Tapestry’s stock jumped 14% while Michael Kors parent Capri plummeted nearly 50% after a federal judge blocked Tapestry’s acquisition of Capri.
The FTC argued that the merger would hurt consumers by reducing competition and raising prices. Tapestry countered, claiming it would benefit customers through faster trends and better products. Related: LVMH closes deal with a controversial luxury rival Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, announced a plan over a year ago to acquire Capri Holdings—the owner of Versace, Jimmy Choo, and Michael Kors—in an $8.
5 billion deal. Tapestry plans to appeal, arguing the deal would benefit consumers by allowing faster trends and better products. Deckers Outdoor surges on earnings beat Deckers Outdoor, the maker of Ugg and Hoka shoes, gained 11% after posting strong earnings.
The company reported earnings of $1.59 per share, surpassing analysts' expectations of $1.24.
Revenue came in at $1.31 billion, also exceeding the consensus .