Walt Disney, Capri Holdings, Virgin Galactic shares gain, among other movers

By MarketWatch

Here are some of the biggest movers in premarket trading Thursday:

Stock gainers:

Walt Disney Co. shares (DIS) rose 3.7% after the media giant reported a mixed third-quarter and said it will raise prices on almost all of its streaming packages in an aggressive push to boost profit.

Virgin Galactic Holdings Inc.'s stock (SPCE) rose 1.2% after the company made its first private spaceflight.

Shares of Applovin Inc. (APP) rallied more than 25% after the software company swung to a profit and reported better-than-expected revenue in its second quarter.

Shares of Kenvue Inc. rose 0.8% on news the Johnson & Johnson spinoff and maker of Tylenol, Benadryl and other household names in health-care products will be the latest company to join the S&P 500 index SPX.

Shares of Wynn Resorts (WYNN) rose more than 3% after the casino and resort operator reported second-quarter results that beat expectations, helped by a rebound in Macau and strong trends in North America.

Capri Holdings shares (CPRI) jumped 56.4% after A Wall Street Journal story said Tapestry (TPR), the owner of Coach, was in talks to buy Capri, the parent company of Michael Kors, Jimmy Choo and Versace.

Shares of Illumina Inc. (ILMN) rose 0.4% after sliding nearly 5% when the DNA-sequencing company tempered its full-year sales outlook, amid a cautious consumer backdrop and a wobbly economic recovery in China.

Stock decliners:

Sonos Inc. stock (SONO) fell 3.5% after zooming higher when the maker of audio and home-theater equipment reported better-than-expected revenue for its fiscal third quarter and tweaked guidance for fiscal 2023.

Plug Power Inc. stock (PLUG) dropped more than 13% after the alternative-energy company saw losses for the second quarter increase more than Wall Street expected.

-MarketWatch

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08-10-23 1231ET

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