Gun maker expands buyback

Investor's Business Daily

Smith & Wesson (SWHC) plans to buy back another $15 mil of shares by June 30 after finishing a $20 mil repurchase program announced in early Dec. The additional buyback plan comes amid cries for tougher gun control laws in the wake of the elementary school shooting in Conn. earlier this month. It and rival Sturm Ruger (RGR) have rebounded slightly but are still trading well below their 50-day lines. Smith & Wesson has fallen 10% since the massacre; shares rose 3.8%.

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