Gunmakers slip on sales report

Investor's Business Daily

Shares of U.S. firearms makers Sturm Ruger (RGR) and Smith & Wesson (SWHC) slid Wed. on an analyst report saying growth in applications for handgun purchases appeared to slow last month. Benchmark said FBI background checks rose 14.7% in Sept. Although still strong, the monthly figure was 2nd lowest this year, after April's 10.5%, and well under the 20%-plus growth recorded in the months between May and August. Sturm Ruger shares dropped 2.3% and Smith & Wesson fell 4.5%.

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