10 Double-Digit Winners You Wish You Bought Yesterday

5. Hanesbrands Inc. (NYSE:HBI)

Hanesbrands saw its share prices increase by 32.8 percent week-on-week after confirming that it was set to merge with Canadian firm Gildan Activewear for $2.2 billion.

After officially inking a definitive agreement last week, Hanesbrands Inc. (NYSE:HBI) said that its shareholders are set to receive 0.102 shares of Gildan Activewear and $0.80 in cash for each HBI share they owned.

Based on the closing prices of Hanesbrands Inc. (NYSE:HBI) and Gildan Activewear on August 11, the offer would represent a 24-percent premium from the former’s closing price on the said date.

Upon closing, Hanesbrands Inc. (NYSE:HBI) will effectively own around 19.9 percent of Gildan Activewear shares on a non-diluted basis.

The transaction remains subject to shareholder and regulatory approvals and is expected to close in late 2025 or early 2026.

In the second quarter period, the company swung to a net income of $81.6 million from a $298 million net loss in the same period last year. Net sales inched up by only 1.8 percent to $991 million from $973 million year-on-year.