December 7, 2012 |
Gun maker Smith & Wesson had a strong second quarter as the consumer firearms market continues to grow, the company said this week. The Springfield, Mass., manufacturer said Thursday afternoon that it earned $21.2 million in profit, or 31 cents a share during the quarter ended Oct. 31. In the same period a year earlier, the company reported a loss of $1.6 million, or 2 cents a share. Revenue soared 48% to $136.6 million, from $92.3 million. The company's stock fluctuated in morning trading, swinging up to $11.25 a share -- a 3.7% surge -- before slumping down 7.7% to $10.01 a share.
March 12, 2013 |
WASHINGTON - A bill to expand background check requirements for gun sales cleared its first Senate hurdle Tuesday, even though a compromise measure that would attract sufficient bipartisan support in the full chamber remains elusive. The Senate Judiciary Committee approved a proposal by Sen. Charles E. Schumer (D-N.Y.) by a 10-8 vote Tuesday, with the backing solely of the Democrats on the committee. Schumer said the bill, a variation of a broad background checks measure he introduced in 2011, represented his “ideal approach” to extending background checks to nearly all gun sales; currently, only sales by licensed dealers are subject to checks.
November 7, 2012 |
While investors moping over President Barack Obama 's reelection sent the Dow spiraling down more than 300 points Wednesday morning, one sector is seeing a surge: gun manufacturing. Firearms maker Smith & Wesson Holding Corp. surged 10.8% to $10.48 a share in morning trading, more than double its price at the beginning of the year. Sturm , Ruger & Co. Inc. got a 6.4% boost to $47.48 a share, a 39% increase from early January The impetus? Gun sales are expected to boom now that Obama , who said during one presidential debate that he's open to reintroducing an expired ban on civilian purchases of assault weapons, is returning to office.
March 12, 2013 |
WASHINGTON - A bill to expand background check requirements for gun sales cleared its first Senate hurdle Tuesday, with Democrats hoping that it would be the vehicle for a compromise measure that could pass the full chamber. The Senate Judiciary Committee approved the proposal by Sen. Charles E. Schumer (D-N.Y.) by a 10-8 vote, with support solely from Democrats. Schumer said the bill, a variation of a measure he introduced in 2011, represented his "ideal approach" to extending background checks to nearly all gun sales.
February 21, 2013 |
WASHINGTON - A group of Democratic lawmakers, led by Rep. Linda Sanchez of California is launching an effort to secure money for gun buybacks, firearms safety campaigns and anti-violence programs from a new tax on handgun purchases. Sanchez unveiled the bill, which would impose a 10% tax on handgun purchases, Thursday at Los Angeles County Sheriff's headquarters in Monterey Park. “It is time to give our law enforcement agencies all the necessary resources to prevent gun violence," Sanchez said.
December 24, 2012 |
Calls for stricter weapons laws after the massacre at a Connecticut elementary school have gun enthusiasts scrambling to buy firearms before they're potentially restricted or banned outright. Brownells Inc., which claims to be the world's largest supplier of firearms accessories and gunsmithing tools, said it has sold 3 1/2 years worth of ammunition magazines in three days. Consumer demand has been “unprecedented” recently, according to a statement attributed to company President Pete Brownell on gun owner forum AR15.com . Police say Adam Lanza used a Bushmaster AR-15 semi-automatic rifle on Dec. 14, when he went on a shooting rampage in Newtown, Conn.