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Morgan Stanley's stock has seen a 14% decline over the past month, reflecting broader market volatility and uncertainty in the investment banking sector due to regulatory changes and economic concerns. While the company has diversified into asset and wealth management, the outlook for M&A and IPO activity remains subdued, suggesting a cautious approach for potential investors. Currently, the stock is considered a hold for long-term investors, trading at a reasonable valuation slightly above its historical average.
Venturi Wealth Management LLC increased its stake in Tapestry by 78% in Q4, now holding 575 shares valued at $38,000. Institutional investors own 90.77% of Tapestry, which operates luxury brands like Coach and Kate Spade. Analysts maintain a "Moderate Buy" rating, with a consensus price target of $67.83.
UBS warns that escalating trade tensions with China could negatively impact several stocks, particularly in the technology and consumer sectors. Companies like Nike, Tapestry, and Dollar Tree are highlighted as vulnerable to rising tariffs, with potential shifts in consumer behavior favoring local brands in China. Auto stocks, including Harley-Davidson and Rivian, are also at risk as tariffs may dampen demand in a competitive domestic EV market.
Summit Trail Advisors LLC and GAMMA Investing LLC increased their stakes in Tapestry by 1.6% and 4.8%, respectively, during the third quarter, with institutional investors owning 90.77% of the stock. Tapestry operates in luxury accessories through brands like Coach and Kate Spade, and analysts have given it a "Moderate Buy" rating, with a recent price target raised to $70.00 by UBS Group. The stock has seen significant trading activity, with a current market cap of $15.71 billion and a 12-month high of $69.09.
Tapestry Inc. plans to buy back $6.1 billion in bonds issued to finance its now-abandoned acquisition of Capri Holdings, which was halted due to antitrust concerns. The company will redeem the debt at 101 cents on the dollar or euro, resulting in paper losses for investors holding bonds that had recently traded at higher values.
Tapestry, Inc. is a prominent house of lifestyle brands, featuring Coach, kate spade new york, and Stuart Weitzman. Coach serves as a global fashion house for accessories, while kate spade new york offers a range of everyday essentials, including handbags, apparel, and home accessories. The company markets its products through direct-to-consumer, wholesale, and licensing channels, encompassing retail stores, e-commerce, and licensed shop-in-shops.
Tapestry Inc. has raised its revenue forecast for the year, anticipating over $6.75 billion, driven by stronger-than-expected sales at its Coach brand and robust performance in Europe. This marks a growth projection of up to 2% compared to the previous year, an increase from earlier forecasts of flat growth. [Bloomberg](https://www.bloomberg.com)
Tapestry Inc.’s $8.5 billion acquisition of Capri Holdings Ltd. is in jeopardy following a court order that temporarily blocks the buyout, a significant win for the FTC. This ruling has led to a sharp decline in Capri's stock, which hit record lows, and has negatively impacted other companies facing antitrust scrutiny, such as Albertsons and Vizio.
The S&P 500 rebounded with a 0.21% gain, while the Nasdaq rose 0.76%, despite the Dow experiencing its first four-day losing streak since June. Tapestry's $8.5 billion merger with Capri was blocked by a federal judge, causing Capri's shares to plummet 50%. Tesla's stock surged 22% after strong earnings, boosting Elon Musk's net worth by $26 billion. Microsoft CEO Satya Nadella's compensation increased 63% to $79.1 million, despite his request for a pay cut due to security concerns. Meanwhile, Burger King and Taco Bell are removing onions from some locations following an E. coli outbreak linked to McDonald's.
U.S. markets showed mixed results, with the S&P 500 and Nasdaq rising due to a 21.9% surge in Tesla shares after positive earnings and growth projections, while the Dow fell, impacted by Boeing and IBM. Tapestry's $8.5 billion acquisition of Capri was blocked, causing Tapestry's shares to jump 13.7% and Capri's to plummet 45.1%. Analysts suggest a potential 5% pullback for the S&P amid ongoing market uncertainties, though a post-election relief rally is anticipated.
Tapestry, Inc.
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