We recently compiled a list of the 10 Stocks Firm Up Amid Cautious Trading. In this article, we are going to take a look at where Hanesbrands Inc. (NYSE:HBI) stands against the other stocks.

Wall Street extended its lackluster performance on Tuesday, with two major indices finishing with only slight changes amid a series of key factors keeping investor sentiment neutral.

Only the Dow Jones finished in the green territory, posting a 0.37 percent gain. In contrast, the S&P decreased by 0.47 percent while the tech-heavy Nasdaq fell by 1.37 percent.

During the last trading session, ten companies defied a generally cautious market, albeit posting only modest gains. In this article, we have detailed the reasons behind their stronger performance.

To come up with Tuesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A factory worker using modern technology to assemble a garment.

Hanesbrands Inc. (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) grew its share prices by 5.4 percent on Tuesday to close at $6.44 apiece, but shares appeared to be trading sideways over the lack of a clear catalyst to propel higher gains.

Just recently, Hanesbrands Inc. (NYSE:HBI) announced plans to raise as much as $1 billion from a loan facility in a bid to finance its outstanding 4.875 percent Senior Notes due 2026, other term loans, and related fees and expenses.

In addition, the company recently announced the resignation of its CEO, Steve Bratspies, by the end of the year or until a new successor is named. He will also exit from the company’s board of directors.

In its earnings release, Hanesbrands Inc. (NYSE:HBI) said it swung to a net loss of $12.88 million in the fourth quarter of 2024, reversing a $77.9 million net income posted in the same period a year ago. Meanwhile, net losses in full-year 2024 skyrocketed by 1,708 percent to $320 million from $17.7 million in 2023.

Revenues for the quarter grew 4.4 percent to $888 million from $850 million year-on-year, but revenues for full-year 2024 dipped by 3.6 percent to $3.507 billion from $3.639 billion in 2023.

Overall HBI ranks 4th on our list of Tuesday's top gainers. While we acknowledge the potential of HBI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HBI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.