Shares of Tata Motors Limited (ADR) (NYSE:TTM) ended Thursday session in red amid volatile trading. The shares closed down -0.53 points or -1.20% at $43.76 with 2.89 billion shares getting traded. Post opening the session at $44.04 the shares hit an intraday low of $43.73 and an intraday high of $44.15 and the price vacillated in this range throughout the day. The company has a market cap of $28.14 billion and the numbers of outstanding shares have been calculated to be 2.89 billion shares.
Tata Motors Limited (ADR) (TTM) engages in the design, development, manufacture, assembly, sale, and export of passenger and commercial vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers passenger cars, utility vehicles, light commercial vehicles, and medium and heavy commercial vehicles. It also provides related parts and accessories; and information technology services, and machine tools and factory automation services. In addition, the company offers vehicle finance and insurance services.
Shares of Hanesbrands Inc. (NYSE:HBI) ended Thursday session in red amid volatile trading. The shares closed down -0.23 points or -0.88% at $25.96 with 377.80 million shares getting traded. Post opening the session at $26.09 the shares hit an intraday low of $25.75 and an intraday high of $26.13 and the price vacillated in this range throughout the day. The company has a market cap of $9.85 billion and the numbers of outstanding shares have been calculated to be 377.80 million shares.
Hanesbrands Inc. (HBI) on August 3, 2016 announced second-quarter financial results and reaffirmed its full-year 2016 financial guidance for net sales, net cash from operations, and other key performance metrics.
Consistent with the company’s expectations, net sales decreased 3 percent to $1.47 billion for the quarter ended July 2, 2016, as a result of comparisons with strong performance in the year-ago quarter that included expanded shelf space for product launches.
On a GAAP basis, operating profit of $221 million increased 59 percent and earnings per diluted share of $0.34 increased 48 percent. When excluding pretax charges related to acquisitions, integrations and other actions, and debt refinancing, adjusted operating profit of $246 million decreased 7 percent, and adjusted EPS of $0.51 increased 2 percent.
The second-quarter and year-to-date results are in line with the company’s plans and consistent with the underlying assumptions for the company’s full-year 2016 guidance. The company has updated 2016 GAAP guidance for operating profit and EPS and has reaffirmed 2016 guidance for net sales, adjusted operating profit, adjusted EPS, and net cash from operations. The company’s 2016 guidance calls for net sales of $6.15 billion to $6.25 billion, GAAP operating profit of $760 million to $795 million, adjusted operating profit of $940 million to $975 million, GAAP EPS of $1.44 to $1.54, adjusted EPS of $1.89 to $1.95, and net cash from operations of $750 million to $850 million.
“We are confident in our plans for the year, with our sales, operating profit and EPS performance all tracking right in line with our expectations and consistent with our full-year guidance,” said Hanes Chief Operating Officer and CEO-Elect Gerald W. Evans Jr. “The second quarter, while having a tough comparison as expected to a strong year-ago quarter, came in on plan overall. Our growth initiatives for the second half are unfolding as planned and are tracking to our full-year guidance of 8 percent growth in net sales at the midpoint and double-digit growth in EPS.”