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Stock Market & Financial Investment News

News Breaks
April 12, 2013
18:23 EDTSWHC, RGRCalSTRS divests of certain firearms holdings
The California State Teachersí Retirement System investment committee approved the fundís divestment from firearms companies that manufacture weapons that are illegal in California. On January 9, the CalSTRS investment committee directed staff to begin the divestment process with the two publicly traded U.S. companies within the CalSTRS portfolio that manufacture these products, Sturm Ruger (RGR) and Smith & Wesson (SWHC). As of December 31, 2012, the total market value of CalSTRS holdings in Sturm Ruger and Smith & Wesson was approximately $3M, which represented 0.3 basis points of the Global Equity portfolio. Today, CalSTRS CIO, Christopher Ailman, recommended divestment in accordance with the CalSTRS 21 risk factors. Staff determined that they can achieve a portfolio of equal risk and return without including these two particular investments.
News For SWHC;RGR From The Last 14 Days
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July 29, 2014
17:27 EDTRGRSturm, Ruger declares quarterly dividend of 45c per share
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17:26 EDTRGRSturm, Ruger raises share repurchase authorization to $100M from $25M
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17:23 EDTRGRSturm, Ruger reports Q2 EPS $1.12, consensus $1.23
Reports Q2 revenue $153.7M, consensus $168.73M. CEO Michael O. Fifer made the following observations related to the companyís Q2 performance, "Our sales decreased 14% from the 2Q13 due to a reduction in demand for firearms and accessories. Our earnings decreased 31% and our EBITDA decreased 25%, from 2Q13. The main drivers of the reduced operating margins were the reduced sales volume, a product mix shift away from unusually strong sales of higher-margin firearms accessories last year, and increased depreciation expense. New products represented $57.1M or 18% of firearm sales in the first half of 2014."
July 28, 2014
12:35 EDTSWHCSmith & Wesson announces $2M settlement agreement with SEC
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11:14 EDTSWHCSmith & Wesson to pay $2M to settle SEC charges
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