Diageo Starts Search for New CEO to Replace Debra Crew, FT Says
The maker of Guinness and Johnnie Walker whisky is now hunting for a replacement for Crew, who has been CEO since June 2023, in news first reported by the Financial Times.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
4 hours ago
- Business Insider
OpenAI's Altman challenges Elon Musk with plans for Neuralink rival, FT reports
OpenAI and its co-founder Sam Altman are preparing to back a company which will compete with Elon Musk's Neuralink by connecting human brains with computers, heightening the rivalry between the two billionaire entrepreneurs, Financial Times' Ivan Levingston, George Hammond and James Fontanella-Khan report. The new venture, called Merge Labs, is raising new funds at a $850M valuation, with much of the new capital expected to come from OpenAI's ventures team, according to three people with direct knowledge of the plans. Altman has encouraged the investment and will help launch the project alongside Alex Blania, who runs World, an eyeball-scanning digital ID project also backed by the OpenAI chief, said two of the people. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Yahoo
6 hours ago
- Yahoo
Why Are Hanesbrands (HBI) Shares Soaring Today
What Happened? Shares of clothing company Hanesbrands (NYSE:HBI) jumped 37.5% in the morning session after reports that it is in advanced talks to be acquired by Canadian apparel company Gildan Activewear (NYSE:GIL). According to a Financial Times report, the potential deal could value Hanesbrands at nearly $5 billion, including debt. This valuation represents a significant premium over the company's market capitalization of approximately $1.71 billion at the previous day's close. Sources cited in the report indicated that talks are at an advanced stage and a deal could potentially be finalized by the end of the week, though they also cautioned that negotiations are not yet complete and could still fall apart. Is now the time to buy Hanesbrands? Access our full analysis report here, it's free. What Is The Market Telling Us Hanesbrands's shares are quite volatile and have had 16 moves greater than 5% over the last year. But moves this big are rare even for Hanesbrands and indicate this news significantly impacted the market's perception of the business. The previous big move we wrote about was 14 days ago when the stock dropped 4.2% on the news that the latest U.S. consumer confidence report revealed underlying weakness despite a headline increase, raising concerns about future spending. While the Conference Board's headline Consumer Confidence Index rose to 97.2 in July, the details painted a more cautious picture for investors. The Present Situation Index, a measure of consumers' assessment of current business and labor market conditions, actually fell. More telling for the sector, the report showed a decline in buying intentions for major discretionary items such as homes, cars, and most appliances. This combination of factors signals potential weakness in future consumer spending, casting a shadow over companies that rely on non-essential purchases. Hanesbrands is down 24.1% since the beginning of the year, and at $6.10 per share, it is trading 31.6% below its 52-week high of $8.91 from December 2024. Investors who bought $1,000 worth of Hanesbrands's shares 5 years ago would now be looking at an investment worth $381.65. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
Why Hanesbrands Rocketed Higher Today
Key Points The Financial Times reported Hanesbrands may receive a buyout offer from Gildan Activewear. The final price appears to be $5 billion, including debt. If the deal goes south, Hanesbrands may be worth a look, as the company showed signs of life after a long decline last quarter. 10 stocks we like better than Hanesbrands › Shares of Hanesbrands (NYSE: HBI) rocketed higher on Tuesday, appreciating 27.5% as of 3:02 p.m. ET. One doesn't normally associate an underwear manufacturer with those types of one-day gains, and indeed there was a unique news item regarding Hanesbrands today: a potential buyout offer. Gildan Activewear makes a bid Today, the Financial Times reported that Gildan Activewear (NYSE: GIL), the Canada-based owner of the Gildan custom T-shirt brand and a licensor of other brands, such as Champion, was going to make a bid to acquire Hanesbrands for an enterprise value of around $5 billion, including Hanesbrand's $2.29 billion in debt. On the news, Hanesbrand's stock rocketed higher, but its enterprise value currently sits at around $4.2 billion, roughly $800 million below the $5 billion figure thrown out by the Financial Times. So, there is still some room for the stock to appreciate for those willing to play merger arbitrage. While Gildan's stock fell on the news, the acquisition could be fortuitous for the Canadian giant if it can run Hanesbrands better than current management. Prior to today, Gildan's stock had been trading near all-time highs, while Hanesbrands has been in a multiyear downturn, with the stock down some 85% below its 2021 highs as of last week. But Gildan may also be sensing Hanesbrands' headwinds may be ebbing. Last week, Hanesbrands beat analyst expectations for revenue and profits on its second-quarter earnings report. To give one a sense of how low expectations were, Hanesbrands eked out a meager 1.8% revenue gain, but even that was enough to get the stock moving higher by double digits following the report. Will Hanesbrands accept? It should be noted that there hasn't yet been a formal offer or agreement, and today's moves were entirely due to the report in the Financial Times, which is based on discussions with people familiar with the negotiations. As it stands, unless you are an investor who engages in merger arbitrage bets, it's not clear the upside justifies the risk after today's rally. However, if the merger talks were to go south and the deal isn't consummated, Hanesbrands may be worth a look for value investors if it retreats to yesterday's levels. The company may have stabilized losses and could be slowly turning itself around even without the help of Gildan. Should you invest $1,000 in Hanesbrands right now? Before you buy stock in Hanesbrands, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Hanesbrands wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 11, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Hanesbrands Rocketed Higher Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
