These 10 Stocks Defied Thursday’s Slump

3. Capri Holdings Ltd. (NYSE:CPRI)

Capri Holdings grew its share prices by 8.42 percent on Thursday to end at $21.12 apiece as investors reacted to a management shakeup in the Versace brand amid reports that the latter is nearing a merger with Prada.

On Thursday, CPRI announced that Donatella Versace is set to step down from her post as the main designer for Versace after almost three decades, as it shook hands with Prada for the sale of the Italian luxury brand for 1.5 billion euros.

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.

The reports, 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.