Hanesbrand Drop; Palo Alto Jump; Eli Lilly Higher
On this episode of Stock Movers:- Hanesbrands (HBI) is lower after Gildan Activewear Inc. agreed to buy US underwear maker Hanesbrands Inc. for about $2.2 billion in cash and stock, in its largest ever acquisition. Canada-based Gildan is offering Hanesbrands holders roughly $6 a share, based on the companies’ closing prices on Aug. 11, according to a statement Wednesday. Including debt, the deal values Hanesbrands at about $4.4 billion.- Palo Alto Networks (PANW) is the biggest upside mover in early trading. It got upgrades from Piper Sandler and Deutsche Bank, providing a pop to the…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.