Smith & Wesson Holding Corp. rose along with Sturm, Ruger & Co. after the latter reported its highest yearly profit since at least 1987, Bloomberg News reported. Net income increased to $70.6 million in 2012, compared with about $40 million in 2011. Sturm, Ruger’s shares were up nearly 3 percent at 8 p.m. in after-hours trading; Smith & Wesson’s were up 1.9 percent. Speculation since the Newtown, Conn., school massacre that firearms will be more strictly regulated has been driving demand for guns.
Smith & Wesson up as rival’s profit surges
February 28, 2013
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