10 Stocks Lead Monday’s Charge Amid Market Bloodbath

5. Capri Holdings Ltd. (NYSE:CPRI)

Capri Holdings extended its winning streak for a fourth day on Monday, adding 3.87 percent to close at $22.83 apiece following news that Italian fashion giant Prada was moving closer to acquiring the Versace brand.

According to a report by Bloomberg, Prada has agreed to pay nearly 1.5 billion euros or $1.6 billion to acquire Versace which Capri Holdings purchased in 2018 for approximately 1.8 billion euros.

The report, citing people privy to the matter, said that the deal could be finalized as early as this month and that the price and timing could still change.

According to Bloomberg, the acquisition of the company founded by the late designer Gianni Versace would help Prada better compete with global luxury rivals such as LVMH which owns Louis Vuitton, Christian Dior, and Tiffany & Co., as well as Kering SA which owns Yves Saint Laurent, Gucci, Balenciaga, Creed, and Alexander McQueen, among others.