By Caitlin McCabe

Capri $(CPRI)$: Shares of the fashion group plunged more than 40% in premarket trading after a federal judge blocked rival Tapestry from acquiring it. Tapestry $(TPR)$, the owner of Coach and Kate Spade, had sought to buy the Michael Kors-owner for $8.5 billion.

Tesla $(TSLA)$: Shares of the electric-vehicle maker fell more than 2.5% premarket, on pace to erase part of Thursday's 22% gain. That rally came after Tesla reported surprisingly strong earnings in the third quarter.

Spirit Airlines $(SAVE.AU)$: The low-cost carrier will cut jobs and has agreed to sell some of its planes, sending its shares up 14% premarket. The moves come amid a rough stretch for the airline, which has been exploring a bankruptcy filing, and a bumpy ride for its stock.

Remy Cointreau (FR:RCO): The French cognac maker said it expects sales to continue to drop in fiscal-2025 due to worsening market conditions in China and uncertainty around its turnaround in the U.S. Shares fell roughly 1%.

Skechers USA $(SKX)$: Shares in the footwear brand jumped ahead of the market open, after it reported a 16% jump in quarterly sales.

Mercedes-Benz Group (XE:MBG): The German luxury-car maker said its net quarterly profit halved, dragging its shares down 2%. European carmakers have cut their annual guidance in recent weeks, citing weakening demand from China.

Capital One Financial $(COF)$: The Virginia-based bank, which is seeking to buy Discover Financial Services $(DFS)$, logged higher quarterly revenue, citing growth in its domestic card and auto businesses, as well as stable consumer-credit results. Shares advanced in offhours trading.

Colgate-Palmolive $(CL)$, HCA Healthcare $(HCA)$ and AutoNation $(AN)$ are due to report earnings early Friday.

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(END) Dow Jones Newswires

October 25, 2024 04:58 ET (08:58 GMT)

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