Hanesbrands Shares Rally On Earnings Beat, Raised Outook

Hanesbrands Inc. shares rallied in the extended session Wednesday after the apparel maker topped Wall Street estimates and raised its outlook for the year. Hanesbrands shares rose 12% to $31. The company reported adjusted third-quarter earnings of 50 cents a share on revenue of $1.59 billion. Analysts surveyed by FactSet had forecast 45 cents a share on revenue of $1.57 billion. Hanesbrands said it expects adjusted earnings of $1.66 to $1.68 a share for the year. Analysts had estimated $1.64 a share.