Stock Movers Hanesbrand Drop; Palo Alto Jump; Eli Lilly Higher
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Aug 13, 2025 Gildan Activewear's massive $2.2 billion acquisition of Hanesbrands shakes up the market, leading to a drop for Hanes. Meanwhile, Palo Alto Networks soars after receiving strong upgrades, becoming the biggest mover of the day. Eli Lilly gains ground as it launches a new injector pen for its weight-loss drug in India, expanding its market presence. On the downside, CoreWeave faces significant challenges with a disappointing earnings outlook, reflecting pressure from its rapid AI data center expansion.
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Hanesbrands Acquisition Reaction
- Gildan Activewear agreed to buy Hanesbrands for about $2.2 billion in cash and stock, implying roughly $6 a share.
- Despite the deal news, Kriti Gupta notes HBI fell about 7% in pre-market trading, which is an unusual market reaction.
Analyst Upgrades Fuel Palo Alto Rally
- Palo Alto Networks received upgrades that pushed the stock higher, reflecting lingering investor optimism despite recent outperformance concerns.
- Deutsche Bank upgraded PANW to buy, arguing investor worries were overblown and leaving upside to a $220 price target.
Lilly Rises Despite Price Cuts
- Eli Lilly rose roughly 1.5% even as two firms cut their price targets significantly this morning.
- Kriti Gupta highlights that the stock traded near $650 despite Cantor and Guggenheim lowering targets to $825 and $875 respectively.