Yahoo Finance is tracking Coach, Kate Spade, JD.com and Apple in intraday trading on Monday.
Coach (COH), Kate Spade (KATE) – Coach has announced a deal to buy rival Kate Spade for $2.4 billion. The $18.50 per share offer is expected to close in the third quarter of 2017. In a press release, Victor Luis, CEO of Coach, said, “Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials. Through this acquisition, we will create the first New York-based house of modern luxury lifestyle brands, defined by authentic, distinctive products and fashion innovation.”
JD.com (JD) – The Chinese online retailer topped Wall Street expectations and reported its first quarterly profit as a public company. JD’s sales jumped 41% during the quarter to 76.2 billion yuan. The stock is up 50% since January 1.
Apple (AAPL) – Drexel Hamilton analyst Brian White issued the most bullish call on Apple yet. The firm maintained its buy rating and raised its price target on the stock to $202 per share from $185. This values the tech giant at $1 trillion. Apple shares hit an all-time high in intraday trading on Monday. White noted that Apple was “among the most underappreciated” in the world. Shares are up 32% since January 1 and have gained about 65% in the past year.
For more on Monday’s big stock movers, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.