|06:06 EDT||RGR, SPWH, SWHC, CAB, DKS||Firearms background checks improved in May, says Wells Fargo|
Wells Fargo says adjusted firearms background checks for the month of May improved to down 10% year-over-year, versus the down 17% decrease in April, according to data from the National Shooting Sports Foundation. Background checks decreased down 11%, better than the historical decrease of down 13%, Wells added. The firm sees the improvement as positive for Cabela's (CAB), Sportsman's Warehouse (SPWH), and to a lesser extent, Dick's Sporting Goods (DKS). Gun makers include Smith & Wesson (SWHC) and Sturm, Ruger (RGR).