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HanesBrands Inc. (HBI) Is Rising Sharply After Q1 Report

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HanesBrands Inc. (HBI: Quote) reported a first quarter net loss of $0.27 per share after the close Thursday, compared to the profit of $0.49 per share in the previous year. The consensus estimate was for a loss of $0.33 per share. The company reconfirmed its full-year 2012 earnings guidance in the range of $2.50 to $2.60 per share. The consensus estimate is for EPS of $2.52.

HanesBrands gapped up at the open Friday and has since risen sharply on above average volume. The stock is currently higher by 2.63 at $29.57 and has set over a 2-week high.

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by RTT Staff Writer

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