Welcome to Markets Desk, your end-of-week read on what's moving.
Capri Holdings surged roughly sixteen percent Friday after the Michael Kors and Jimmy Choo parent delivered a blowout quarter, posting adjusted earnings of forty-two cents per share against Wall Street's expectation of twenty-one. Revenue came in at eight hundred nine million, and the company raised its full-year outlook, signaling the Michael Kors turnaround is genuinely gaining traction.
Shifting to fixed income, the Treasury has raised the fixed rate on I Bonds to one point four percent, the highest level since two thousand six, bringing the combined annualized rate to five point five one percent for the next six months. For long-term savers looking for inflation protection with a tax advantage, this is the most compelling version of this instrument in roughly two decades.
And in deal news, private equity firm CD&R is reportedly targeting a buyout of Global Payments, the payments processor carrying an enterprise value of around forty billion dollars. If it closes, this would rank among the larger take-private transactions in the fintech space, underscoring continued PE appetite for payments infrastructure despite elevated financing costs.
That's the tape. Markets Desk, signing off the floor.
