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...Smith & Wesson shares jumped more than 10 per cent in morning trade on Friday after the firearm manufacturer said sales of newly launched guns and higher prices helped it report better than forecast results...
...Firearms manufacturer Smith & Wesson will also report earnings just weeks after two high-profile mass shootings in the US....
...The company, which owns the Smith & Wesson gun brand, notched net income of $7.6m, or 14 cents a share, and quarterly sales of $138.8m....
...Norway’s $1.1tn oil fund cut its stake in American Outdoor Brands — formerly known as Smith & Wesson — by almost 90 per cent during last year....
...Shares in Sturm Ruger & Co, the largest US gunmaker, have fallen more than 20 per cent since the president took office, while American Outdoor Brands, the owner of Smith & Wesson, is down 60 per cent....
...Perhaps most people had school days punctuated with life-affirming lessons from the likes of Sidney Poitier, Robin Williams and Maggie Smith. I mean who would not trust Maggie with a Smith & Wesson?...
...We pack guns,” says Mr Chilton, who owns a .223 calibre ranch rifle, a 12-gauge shotgun and a Smith and Wesson pistol. “I have a gun with me everywhere I go.”...
...Smith & Wesson says it will be discounting to take market share. Other upside could come if Smith & Wesson wins a competition to supply a new pistol to the US army....
...So that for a time, when she was out alone at night, she carried a .38 calibre 5-shot Smith & Wesson Chief’s Special in her jacket pocket....
...The strong sales have had a positive impact on earnings for Smith & Wesson and Sturm, Ruger & Co, the two largest publicly traded gun manufacturers in the US....
...The company ultimately won a contract to sell 548 pistols, for a profit of $107,852....
...Smith & Wesson’s shares fell 1 per cent to $13.57 by close of trading in New York....
...At Smith & Wesson, which says it holds 15 per cent of the tactical rifle market, net sales in the six months through October 31 were running 48 per cent ahead of the same period in 2011....
...Smith & Wesson reported its sales of modern sporting rifles had more than doubled in the six months to October compared with the equivalent period of 2011....
...The paper target from my first pistol-shooting lesson lay on the table by the porch swing-seat from which I was watching the moon rise over the mountains....
...The store manager is Erik Fredricks, a skinny 37-year-old who wears a Smith & Wesson .357 revolver on his hip....
...You can’t be too careful: before leaving the house, he also straps a Smith & Wesson 9mm handgun into a holster secreted in the depths of his robes....
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