Why Capri Holdings Stock Popped 32% in October

Capri Holdings stock surged 32% in October driven by strong earnings that beat expectations and ongoing buyout speculation. The company reported revenue of $809M (vs. $780.7M expected) and adjusted EPS of $0.42 (vs. $0.21 expected). Following the sale of Versace, Capri now focuses on Michael Kors and Jimmy Choo brands, with the holiday quarter being critical for demonstrating a turnaround in Michael Kors' declining revenue.