Stocks Soar as Inflation Rate Slows: 5 Best Gainers Today

• Stocks increased on Thursday after an inflation measure revealed slower annual inflation increases than anticipated.
• Tapestry has decided to acquire Capri Holdings Ltd., which owns illustrious fashion brands such as Michael Kors, Versace, and Jimmy Choo.
• Holley Inc. released its financial results for the second quarter ending July 2, 2023, while Applovin Corp. experienced a significant increase in after-hours trading on Wednesday due to its surprise swing in profit and better-than-expected revenue in its second quarter.

Stock Market Increase

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%.

Tapestry Acquires Capri Holdings Ltd.

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. The combined entity is expected to generate robust global annual sales.

Holley Inc.’s 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 $175.3 million from last year’s $179.4 million . Gross profit also declined by 7