Smith & Wesson Corp. (NASDAQ: SWHC)
Smith & Wesson News
After the close on Monday, Smith & Wesson (SWHC) announced that they were raising guidance for the third quarter and for 2016 Fiscal Year, which has sent shares spiking in the premarket session nearly 8%. SWHC has a net sales outlook of $175-180,000 for the quarter ending January 31, 2016 and $650-660,000 for the fiscal year. Strong sales may be happening due to the anticipation that President Obama is looking to tighten gun controls, which he will be detailing today in his gun control announcement.
Smith & Wesson is getting a nice push to the upside on the raised guidance announcement with shares looking to gap up from yesterdays close of $23.28. Premarket highs have set in at $25.27 so we’ll have to see where the buyer and sellers will be making trades. Look for support at the $24 and $23.59 levels while resistance should be met at the $25.25 and $25.50. We will be looking to play the momentum but will have to see how it shakes out in the first few minutes of the open.
Smith & Wesson Holding Corp. engages in the manufacture of firearms. Its products include handguns, long guns, handcuffs, and firearm-related products and accessories for sale to a wide variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. It sells its products under the Smith & Wesson, M&P, Thompson/Center Arms brands. Smith & Wesson Holding was founded by Michell A. Saltz on June 17, 1991 and is headquartered in Springfield, MA. (MarketWatch)