Diamonds and Dogs
Firearms manufacturer Smith & Wesson (SWHC)is jumping nearly 10% after beating analysts' estimates on its top- and bottom-lines. The company also raised its full-year earnings forecast as high as 89 cents a share from a previous 78 cents. Smith & Wesson has been on a rollercoaster ride the last two years falling over 30% in 2014 before roaring back this year. The company's sales seem to ebb and flow with congressional legislation in DC regarding restrictions on firearms and ammunition.
Bob Evans Farms (BOBE) is getting slammed today down 22% after pulling off the trifecta. The company reported disappointing earnings missing estimates by 9 cents, lowered guidance for the full year and decided not to pursue a sale or spin-off of the BEF Foods business segment. In a client note, one analyst downgraded the stock saying their buy recommendation was based on better same-store sales improvement, sow-cost advantages and a possible sale of BEF Foods which has collapsed. The lower gas prices haven't helped many retailers as of yet.