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November 29, 2012
16:12 EDTHBIHanesbrands sees Q4 EPS $1.00-$1.06, consensus $1.03
Sees Q4 revenue $1.13B-$1.17B, consensus $1.15B.
News For HBI From The Last 14 Days
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July 31, 2015
12:11 EDTHBIOn The Fly: Top stock stories at midday
The Wall Street averages began the session slightly lower, soon turned mixed and have all returned to positive ground near midday. The Nasdaq has been the strongest of the indexes throughout. The S&P 500 is trying to hold onto its gain of about 1.5% for the month as July comes to a close. ECONOMIC EVENTS: In the U.S., the employment cost index for the second quarter increased 0.2%, versus expectations for an increase of 0.6%. The Chicago PMI business barometer index bounced to 54.7 in July, topping the expected reading of 50.8. The final reading of the University of Michigan consumer confidence index for July came in at 93.1, which was down from the 93.3 flash reading and below the 94 that was expected. In Europe, Athex stated that the Athens Stock Exchange will reopen on August 3. COMPANY NEWS: Shares of Exxon Mobil (XOM) and Chevron (CVX) declined 2.9% and 3.6%, respectively, after both energy majors reported lower than expected earnings due to falling oil prices. Exxon noted that its Downstream and Chemical segment earnings increased significantly from the second quarter of last year, but that those higher earnings were more than offset by the impact of weaker Upstream realizations and lower asset management gains. Chevron, meanwhile, recorded impairments of $1.96B and other charges of approximately $670M relating to project suspensions and adverse tax effects, all of which stemmed from a downward revision in the company’s longer-term crude oil price outlook. MAJOR MOVERS: Among the notable gainers was Coca-Cola Enterprises (CCE), which rose 13% after the Wall Street Journal reported that the company is in advanced merger talks with Coca-Cola bottlers for Germany and the region of Spain, Portugal and Andorra. Also higher following their earnings reports were MoneyGram (MGI), which gained 27%, Expedia (EXPE), which added 10%, and SkyWest (SKYW), which rallied 20%. Among the noteworthy losers was FireEye (FEYE), which fell 5% after reporting quarterly results and announcing that CFO Michael Sheridan intends to leave the company. Also lower following their earnings reports were Ocwen Financial (OCN), which fell 28.5%, and Hanesbrands (HBI), which dropped 10%. INDEXES: Near midday, the Dow was up 10.36, or 0.06%, to 17,756.34, the Nasdaq was up 18.60, or 0.36%, to 5,147.38, and the S&P 500 was up 3.98, or 0.19%, to 2,112.61.
11:31 EDTHBIHanesbrands plummets after cutting FY15 revenue outlook
Shares of apparel maker Hanesbrands (HBI) are sinking after the company lowered its fiscal 2015 revenue outlook. WHAT'S NEW: After the close on Thursday, HanesBrands reported second quarter adjusted earnings per share of 50c, in line with analysts' consensus estimates, on revenue of $1.52B, slightly missing consensus estimates for $1.56B. Net sales excluding foreign currency fluctuations and the acquisitions of DBApparel and Knights Apparel increased 1% in Q2. The company said it drove significant margin expansion in its Innerwear and Activewear segments. WHAT'S NOTABLE: Hanesbrands backed its FY15 adjusted EPS view of $1.61-$1.66, versus analysts' consensus estimates of $1.65. However, the company lowered its FY15 revenue guidance to "slightly less" than $5.9B from its previous view of $5.9B-$5.95B, below analysts' estimates of $5.96B. Adjusted operating profit for the year is expected at $855M-$875M. The guidance for 2015 represents growth over 2014 results of 13%-17% for adjusted EPS, nearly 11% for net sales and 12%-15% for adjusted operating profit. Richard Noll, the chairman and Chief Executive Officer of Hanesbrands, commented that the company continues to deliver double-digit growth in adjusted operating profit and EPS as expected, "and we are tracking to our full-year profit expectations." ANALYST REACTION: Barclays said this morning that Hanesbrands' weakness represented a buying opportunity. While the firm's analyst was disappointed by Innerwear weakness, the analyst said Q3 expectations have been reset. Barclays believes Hanesbrands is one of the best stories to own heading into 2016 as past M&A synergies, likely new M&A and buybacks support 2016 earnings growth. The firm rated shares an Overweight. PRICE ACTION: In late morning trading, Hanesbrands fell $3.39, or about 10%, to $30.75 on more than twice its average daily trading volume. Despite this pullback, the shares have gained approximately 24% over the past year. OTHERS TO WATCH: Other apparel companies include Gildan Activewear (GIL), down 5.8%, and Delta Apparel (DLA), down 5.3%.
10:23 EDTHBIHanesbrands drops sharply after results, breaks long-term support
The stock is down over 11.8% at time of writing to $30.10. At that price next support is at $29.47, the session low. The move down today is technically significant as it takes price below the 30-week moving average which has been the main uptrend support line proxy long-term. This move has turned the long-term trend to bearish. Support below the session low is at $28.75. Resistance is at the 30-week moving average at $32.09.
10:11 EDTHBIHigh option volume stocks
High option volume stocks: CMPR TPX WMC YRCW VTL HBI RNG MXWL GLF EXPE
09:56 EDTHBIOptions with increasing volume on open
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07:01 EDTHBIHanesbrands weakness a buying opportunity, says Barclays
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July 30, 2015
19:35 EDTHBIOn The Fly: After Hours Movers
UP AFTER EARNINGS: YRC Worldwide (YRCW), up 17.7%... SkyWest (SKYW), up 11.5%... Zeltiq Aesthetics (ZLTQ), up 9%... Columbia Sportswear (COLM), up 11%... Expedia (EXPE), up 7.9%... Ellie Mae (ELLI), up 7%... Comfort Systems (FIX), up 6.2%... DigitalGlobe (DGI), up 5%... Fiesta Restaurant Group (FRGI), up 8%... Amgen (AMGN), up 1.9%. ALSO HIGHER: Juno Therapeutics (JUNO), up 1.7% after getting FDA clearance for IND application for JCAR015... Priceline (PCLN), up 1.5% following Expedia's quarterly results... Coca-Cola Enterprises (CCE), up 9.6% after the Wall Street Journal reported that the company is in advanced talks with Coca-Cola bottlers... Endurance Specialty (ENH), up 2.6% after being added to the S&P MidCap 400. DOWN AFTER EARNINGS: Oculus (OCLS), down 17%... Computer Programs (CPSI), down 11.9%... Outerwall (OUTR), down 9.2%... FireEye (FEYE), down 5.2% after reporting quarterly results and that CFO Michael Sheridan intends to leave the company... Hanesbrands (HBI), down 8.5%... Solazyme (SZYM), down 8.8%... Boston Beer (SAM), down 5.2%... Ocwen Financial (OCN), down 10.7%... LinkedIn (LNKD), down 4.5%... Electronic Arts (EA), down 3.2%.
16:43 EDTHBIHanesbrands down 6.5% after reporting Q2 results, lowering FY15 revenue guidance
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16:42 EDTHBIHanesbrands backs FY15 EPS view of $1.61-$1.66, consensus $1.65
Lowers FY15 revenue guidance to slightly less than $5.9B from $5.9B-$5.95B, consensus $5.96B.
16:39 EDTHBIHanesbrands reports Q2 adjusted EPS 50c, consensus 50c
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