Hanesbrands Shares Surge on First Day

A day after Sara Lee Corp. completed the spinoff of its underwear unit, shares in Hanesbrands Inc. rose sharply Wednesday on their first day of trading.

Shares of the new Winston-Salem, N.C.-based company, trading under the ticker symbol HBI, rose $1.31, or 6.6%, to $21.11 on the New York Stock Exchange.

Sara Lee shares were repriced to reflect the spun-off assets and closed at $14.78, up 58 cents.

Hanesbrands' brands include Hanes, Champion, Playtex and Wonderbra.