Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- Chipotle Mexican Grill (CMG) shares jumped after the Financial Times reported that Starbucks has worked with advisers on a takeover proposal for the burrito chain. The status of the takeover plans couldn’t be immediately learned and a mega deal of this size might never get off the ground, according to people familiar with the matter. Analysts expressed skepticism about a potential deal given the vast differences between the two businesses, but noted that access to Chipotle’s supply chain could provide some justification for the potential overture.
- Levi (LEVI) posted the slowest growth in its direct-to-consumer channels since late 2022, in part due to a marketing misstep. Revenue generated from Levi’s own stores and website grew 2% in the third quarter, with the company raising its full-year earnings outlook. The company expects direct-to-consumer growth for the current quarter to increase by a mid-single digit, after changing its marketing to focus on low-rise jeans.
- Latham Group (SWIM) fell 7.8%. Trading volume was seven times the average for this time of day. The shares declined to $5.87, lower than any close since Aug. 4, from $6.37. The stock was the worst performer among its peers.
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