Hanesbrands Inc (HBI)

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Hanesbrands Inc. (HBI) said it received approval from the U.S. Food and Drug Administration for a surgical face mask it developed with North Carolina State University, University of North Carolina-Chapel Hill and UNC Health, though shares fell 20.9% to $12.95 after it reported lower profit and sales for the third quarter.

The two-ply mask could be used as personal protective equipment by health-care professionals, the apparel company said.

The company said it sees fourth-quarter earnings of 24 cents to 29 cents a share, or 25 cents to 30 cents a share on an adjusted basis, on sales of $1.6 billion to $1.66 billion. Analysts polled by FactSet are expecting earnings of 44 cents a share, or 45 cents a share on an adjusted basis, on revenue of $1.71 billion.

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