Smith & Wesson Holding Corp(NASDAQ:SWHC) Surging On Earnings Beat
Making the list of Trending Tickers today are homebuilder Hovnanian Enterprises, Inc.(NYSE:HOV), sliding on an earnings miss blaming cold weather for decreased home purchases; DryShips Inc.(NASDAQ:DRYS) – the drybulk shipper jumping on higher shipping rates; Zynga Inc(NASDAQ:ZNGA) climbing on news the game publisher wants to offer real-money online poker outside the United States; solar panel maker Canadian Solar Inc.(NASDAQ:CSIQ) tumbling as it warned weather-related issues will affect it’s top line next quarter; and our trending ticker for today, Smith & Wesson Holding Corp(NASDAQ:SWHC).
The firearm manufacturer is up as much as 18% after reporting better than expected earnings and 7% revenue growth. The gains were driven by a 30% growth in handgun sales.
On last night’s conference call with analysts Smith & Wesson CEO James Debney said the growth in handgun sales was a “very favorable result when we consider the year ago period included a peak in consumer demand.”
That demand spike came in the wake of the December 2012 Sandy Hook Elementary School shooting. Shares of Smith & Wesson are up 153% over the last 2 years. According to polls conducted by Gallup only 1 in 4 Americans currently support limits on handgun ownership. It’s the lowest level of support such bans in the 60 years Gallup has been conducting the survey.
You can see the full “Breakout” segment below:
Smith & Wesson Holding Corporation provides products and services for safety security protection and sport. The Company manufactures a wide array of pistols revolvers tactical rifles hunting rifles black powder firearms handcuffs and firearm-related products and accessories for consumers law enforcementand securities agencies worldwide.
Ordnance And Accessories
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