Market Updates
Movers: Alibaba, AppLovin, Capri, Disney, Six Flags, Tapestry
Scott Peters
10 Aug, 2023
New York City
Six Flags Entertainment Corp decreased 1.9% to $22.45 after the amusement park operator reported weaker-than-expected quarterly results.
The company reported revenue of $444 million and earnings of 25 cents a share and the company blamed the decline in earnings to higher reserves for self insurance.
Walt Disney Co increased $90.03 after the media and theme park operator reported a rare quarterly loss and the company said it will crack down on password sharing and lift prices on its free streaming services.
Alibaba Group Holding Ltd jumped 4.7% to $100.21 after the China-based e-commerce company reported better-than-expected earnings and revenue surged 14%, the best in two years.
Tapestry Inc dropped 12.5% to $36 after the apparel company agreed to acquire Capri Holdings, the parent of Versace, for $8.5 billion or $57 a share in cash.
Capri Holdings jumped 56.5% to $54.20.
AppLovin Corp jumped 26.2% to $37.15 after the game developer reported better-than-expected second quarter earnings of 22 cents and forecasted stronger-than-expected revenue between $780 million and $800 million.
Annual Returns
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Earnings
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