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Tapestry’s stock pops and Capri falls as fashion giants scrap merger deal

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Tapestry Inc.’ stock jumped 6.8% early Thursday, while Capri Holdings Inc.’s stock fell about 4%, after Tapestry said it’s terminating its $8.5 billion merger agreement with its smaller rival.

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2-year Treasury yield jumps after the close, with Powell patient about rate cuts

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The policy-sensitive 2-year Treasury yield edged higher after 3 p.m. Eastern time on Thursday, following fresh comments from Federal Reserve Chair Jerome Powell that indicated the central bank isn’t in a hurry to cut interest rates again.

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Tesla and Rivian shares were having a good week. Concerns over the future of EV tax credits ended that.

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Worries that EV tax credits may go away under the Trump administration hit a fever pitch on Thursday, dragging down the stocks.

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Biogen’s stock rises after E.U. regulator reverses negative view of Alzheimer’s drug

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Biogen’s stock rose 1% Thursday, after Europe’s pharmaceutical regulator issued a positive opinion on the Alzheimer’s disease drug that the company developed with Japanese partner Eisai — reversing an earlier decision not to approve the drug.

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