Breaking News Instant updates and real-time market news.

GIL

Gildan Activewear

$10.14 /

-0.62 (-5.76%)

06:32
03/23/20
03/23
06:32
03/23/20
06:32

Gildan Activewear withdraws Q1, FY20 guidance due to COVID-19 impact

Gildan Activewear provided an update in response to the impact of COVID-19 on its business and operations. The company stated, "The spread of COVID-19 continues to heighten and is having a significant impact on global economic activity. As it relates to areas of Gildan's business, our first priority is the health and welfare of our employees, customers, suppliers and other partners which we have been working to address. We have also started to see a meaningful deceleration in demand in the imprintables channel given measures that governments, companies and individuals are taking to limit the spread of COVID-19, including the limitation of social gatherings, travel restrictions and the cancellation of various sporting, entertainment, promotional, and cultural events, amongst others. Additionally, although we have not yet seen as significant a deceleration of demand for our products in all the retail channels that we serve, we expect the multitude of recently announced temporary store closures and social distancing measures being recommended by governments and health protection agencies will also continue to slow retail demand. Effective March 17, the government of Honduras mandated a 7-day closure of all private enterprises operating in the country which has now been extended to March 29. Governments of some of the other countries in which we operate are also issuing similar directives to combat the spread of COVID-19. Accordingly, given the impact of all these factors, the Company announced today that it is temporarily suspending production at all of its manufacturing facilities until mid-April. This will allow us to respect government recommendations and align production and inventory levels with current demand requirements. All other areas of our business, including our distribution centres which service the various regions where we sell our products will remain open for the time being with good inventory availability levels to service our customers, operating with appropriate measures in place to protect our employees, including remote working arrangements for many of our office staff. Given the unprecedented nature of the COVID-19 situation which is changing rapidly, the company will continue to monitor and adjust its plans for its business as the situation evolves. At the end of the fourth quarter of 2019 Gildan had a net debt to adjusted EBITDA leverage ratio1 of 1.6 times. As a precautionary measure on March 17, we elected to draw down on the remaining available portion of our revolving long-term bank credit facility, positioning us with close to $600 million of liquidity. Accordingly, we have a high degree of financial flexibility as we move forward to deal with COVID-19 challenges given our fixed cost structure and focus on expense, capex and working capital management, as well as our balance sheet and access to liquidity. The company issued its first quarter and full year 2020 guidance on February 20, 2020, which did not include the impact of COVID-19 disruptions. Due to the heightened uncertainty relating to the impacts of COVID-19, the company is withdrawing its first quarter and full year 2020 financial guidance. The company expects to provide a further update when it releases its first quarter 2020 earnings results. Gildan is working diligently across all areas of our business to safeguard our people and the continuity of our business, while maintaining support to all our customers. We have been able to successfully navigate through difficult times over the years and adapt to changing environments, which gives us confidence that our strong business model, financial position and resilience will continue to position us well for long-term success as we emerge from the COVID-19 crisis."

GIL Gildan Activewear
$10.14 /

-0.62 (-5.76%)

03/05/20 Scotiabank
Scotiabank upgrades Gildan Activewear with shares at 'trough valuation'
03/05/20 Scotiabank
Gildan Activewear upgraded to Outperform from Sector Perform at Scotiabank
11/29/19
Fly Intel: Top five analyst actions
11/29/19 Desjardins
Gildan Activewear upgraded to Buy from Hold at Desjardins

TODAY'S FREE FLY STORIES

Periodicals
IBM CEO says COVID-19 pandemic to accelerate cloud, AI adoption, CNBC reports » 14:37
04/06/20
04/06
14:37
04/06/20
14:37
IBM

IBM

$112.47 /

+6.09 (+5.72%)

IBM's new CEO Arvind…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Hot Stocks
Uber, Flipkart team to deliver everyday essentials to consumers in India » 14:35
04/06/20
04/06
14:35
04/06/20
14:35
UBER

Uber

$25.72 /

+2.9 (+12.71%)

Flipkart, one of…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Periodicals
Amazon facing second COVID-19 related labor strike in NY, NY Post says » 14:31
04/06/20
04/06
14:31
04/06/20
14:31
AMZN

Amazon.com

$1,972.71 /

+67.38 (+3.54%)

Amazon (AMZN) is facing…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Initiation
Otis Worldwide initiated with a Buy at Vertical Research » 14:30
04/06/20
04/06
14:30
04/06/20
14:30
OTIS

Otis Worldwide

$47.36 /

+0.36 (+0.77%)

Earlier, Vertical…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Initiation
Otis Worldwide initiated with a Hold at Spin-Off Research » 14:30
04/06/20
04/06
14:30
04/06/20
14:30
OTIS

Otis Worldwide

$47.30 /

+0.3 (+0.64%)

Spin-Off Research…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Options
Diamond Eagle Acquisition Corp call volume above normal and directionally bullish » 14:25
04/06/20
04/06
14:25
04/06/20
14:25
DEAC

Diamond Eagle Acquisition

$12.66 /

+0.54 (+4.46%)

Bullish option flow…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Conference/Events
JPMorgan restaurants analyst to hold an analyst/industry conference call » 14:25
04/06/20
04/06
14:25
04/06/20
14:25

Restaurants &…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

Periodicals
Gap asks suppliers to stop summer shipments, halt fall production, BOF says » 14:24
04/06/20
04/06
14:24
04/06/20
14:24
GPS

Gap

$6.68 /

+1.035 (+18.33%)

Gap has asked its…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Hot Stocks
Kroger to limit customers to 50% of building code capacity » 14:19
04/06/20
04/06
14:19
04/06/20
14:19
KR

Kroger

$32.43 /

+0.14 (+0.43%)

Kroger announced the…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Technical Analysis
NASDAQ market internals summary » 14:17
04/06/20
04/06
14:17
04/06/20
14:17
$NSD

NASDAQ Market Internals

$0.00 /

+ (+0.00%)

Volume is above average…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

Conference/Events
Jefferies equity strategist to hold an analyst/industry conference call » 14:16
04/06/20
04/06
14:16
04/06/20
14:16

Equity Strategist Powell…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

Technical Analysis
NYSE market internals summary » 14:16
04/06/20
04/06
14:16
04/06/20
14:16
$NYE

NYSE Market Internals

$0.00 /

+ (+0.00%)

Volume is above average…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

General news
Fed is establishing a new Term Funding Facility » 14:15
04/06/20
04/06
14:15
04/06/20
14:15

Fed is establishing a new…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

Recommendations
Wayfair price target raised to $75 from $70 at Stifel » 14:14
04/06/20
04/06
14:14
04/06/20
14:14
W

Wayfair

$69.94 /

+19.27 (+38.03%)

Stifel analyst Scott…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Periodicals
Activision's Call of Duty esports league returns April 10, Verge reports » 14:14
04/06/20
04/06
14:14
04/06/20
14:14
ATVI

Activision Blizzard

$61.90 /

+1.92 (+3.20%)

Activision's Call of…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Conference/Events
Jefferies biotech analyst to hold an analyst/industry conference call » 14:11
04/06/20
04/06
14:11
04/06/20
14:11
ICPT

Intercept

$61.62 /

+2.78 (+4.72%)

, AKRO

Akero Therapeutics

$20.80 /

+0.83 (+4.16%)

, GNFT

Genfit

$17.24 /

+1.04 (+6.42%)

, NGM

NGM Biopharmaceuticals

$13.23 /

+0.91 (+7.39%)

Biotechnology Analyst…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

General News
Fed creating term financing facility backed by SBA PPP loans » 14:07
04/06/20
04/06
14:07
04/06/20
14:07
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$262.80 /

+14.59 (+5.88%)

Federal Reserve will…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Initiation
NIC Inc. initiated with a Neutral at Sidoti » 13:57
04/06/20
04/06
13:57
04/06/20
13:57
EGOV

NIC Inc.

$23.01 /

+0.07 (+0.31%)

Sidoti initiated coverage…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

General news
Treasury Action: yields remain higher in the wake of the tepid results on the 3-year auction » 13:50
04/06/20
04/06
13:50
04/06/20
13:50

Treasury Action: yields…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

Conference/Events
UBS U.S. equity strategist to hold an analyst/industry conference call » 13:44
04/06/20
04/06
13:44
04/06/20
13:44

U.S. Equity Strategist…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

Periodicals
Uber begins posting alternative jobs for its drivers, FT reports » 13:41
04/06/20
04/06
13:41
04/06/20
13:41
UBER

Uber

$25.63 /

+2.805 (+12.29%)

Dave Lee , writing for…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Recommendations
Alnylam collaboration for AATD favors Dicerna, says Piper Sandler » 13:40
04/06/20
04/06
13:40
04/06/20
13:40
DRNA

Dicerna

$19.27 /

+1.34 (+7.47%)

, ALNY

Alnylam

$111.48 /

+5.64 (+5.33%)

Piper Sandler analyst…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Conference/Events
Jefferies biotech analyst to hold an analyst/industry conference call » 13:30
04/06/20
04/06
13:30
04/06/20
13:30

Biotech Analyst Amin,…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

Hot Stocks
Casey's General Stores expands delivery to 579 stores via DoorDash partnership » 13:28
04/06/20
04/06
13:28
04/06/20
13:28
CASY

Casey's General Stores

$130.37 /

+9.62 (+7.97%)

Casey's General…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return tomorrow

Get Free Trial

ShowHide Related Items >><<
03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

General news
3-Yr Note Auction CUSIP Number data reported » 13:26
04/06/20
04/06
13:26
04/06/20
13:26

3-Yr Note Auction CUSIP…

Story temporarily locked.
To read stories as they happen please subscribe, Login above, or return in 9 minutes

Get Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.