NOTE: Trending Tickers is an index compiled exclusively by Yahoo Finance every day. It’s a list of companies whose stocks are seeing the biggest bump in interest as measured by your Yahoo Finance Ticker searches.
Making the list of Trending Tickers today are homebuilder Hovnanian Enterprises (HOV), sliding on an earnings miss blaming cold weather for decreased home purchases; DryShips (DRYS) - the drybulk shipper jumping on higher shipping rates; Zynga (ZNGA) climbing on news the game publisher wants to offer real-money online poker outside the United States; solar panel maker Canadian Solar (CSIQ) tumbling as it warned weather-related issues will affect it’s top line next quarter; and our trending ticker for today, Smith and Wesson (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.
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