Market Minute: Smith & Wesson Earnings Fire Up; Best Buy Boosts Windows

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Some calm could return to the stock market today, and the gun debate lifts profits for a big gun maker. Those and more are what's making business news Friday.

The Dow industrials (^DJI) rallied 180-points yesterday, snapping the first three-day losing streak this year. The S&P 500 (^GSPC) jumped 23 and the Nasdaq (^IXIC) rose 45 points.

We might see less volatility today after a week or so of whip-saw trading. Japanese stocks rebounded overnight, and there are reports Federal Reserve Chairman Ben Bernanke may try to calm investor fears next week about plans to taper the Fed's bond-buying program.

smith wesson earnings gun debate self defense sandy hook
Justin Sullivan/Getty Images
Shares of Smith & Wesson (SWHC) are expected to shoot higher after the gun-maker reported preliminary earnings that beat expectations. Worries that Congress would impose restrictions on gun sales spurred demand and led to record sales.

Over the years, Best Buy Co. (BBY) has carved out space in its stores for Apple (AAPL) products and more recently, Samsung. Now it's setting up Windows Stores with products from Microsoft (MSFT), featuring Xbox games, computers and phones. For Microsoft, it's a way to pump up sales of Window 8.

Shares of Restoration Hardware Holdings (RH) are set to jump. Earnings at the home furnishings retailer topped expectations, and the company raised its forecast for the full year. Since going public last November, the stock has soared 89 percent.

A setback in Eli Lilly & Co.'s (LLY) attempt to conquer Alzheimer's. It's stopping a clinical trial of one drug because of potential side-affects involving the liver.

The private-equity firm KKR & Co. (KKR) is reportedly looking to sell its most well-known unit -- the Del Monte canned food business. The company would then focus on Del Monte's pet-food operations. The Wall Street Journal says the canned food business could be worth around $2 billion.

And Deutsche Bank (DB) has raised its rating on the daily deals firm Groupon (GRPN) to "buy" from "hold."

Check back after the market closes Friday for the new DailyFinance closing bell report.

-Produced by Drew Trachtenberg


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16 Comments

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setanta54s_back

all the gun manufacturers are doing fine and waaaaay behind on their orders.
and all due to the greatest salesman of all time !

June 15 2013 at 9:14 PM Report abuse rate up rate down Reply
donkein

Smith and Wesson the only Obama economic victory and believe me it wasn't intentional!

June 14 2013 at 3:01 PM Report abuse rate up rate down Reply
1 reply to donkein's comment
setanta54s_back

they're saying it for years already--bho's the greatest salesman they ever had.

June 15 2013 at 9:07 PM Report abuse rate up rate down Reply
noknrc

Gun control is a steady hand and hitting your target. Liberal gun controls fuels gun sales.
Once the market recovers and the manufacturers can get the dealers restocked maybe the liberals can stage another disaster to spark sales again.

June 14 2013 at 2:14 PM Report abuse rate up rate down Reply
ddstan1120

Obama! Salesman of the year of weapons manufacturing.
Keep it up Obama, Giffords, Bloomersburg. Great for a failed economy.

June 14 2013 at 1:26 PM Report abuse +2 rate up rate down Reply
bertnernie229

I would like to thank all the Liberals out there for being the best sales people the gun manufactures have ever had. I own stock in these gun company's and have been making money hand over fist. Thank you all for making me very wealthy. Got to love the stupid liberals.

June 14 2013 at 1:14 PM Report abuse +2 rate up rate down Reply
sissy_barnes

good reasons such as this is why no one should bank with bank of america, use one who appreciates yer biz & will not try pulling bullshit

June 14 2013 at 12:50 PM Report abuse rate up rate down Reply
hazel

how much are they giving NRA they want some of that loot they always have there hand out.Its almost time to raise dues so the ceo can get richer..

June 14 2013 at 12:48 PM Report abuse -1 rate up rate down Reply
seayakbill

Folks getting ready for the revolution

June 14 2013 at 12:31 PM Report abuse +1 rate up rate down Reply
1 reply to seayakbill's comment
setanta54s_back

loose lips sink ships.............

June 15 2013 at 9:12 PM Report abuse rate up rate down Reply
seayakbill

Liar in Chief Obummer will try to put S&W out of business

June 14 2013 at 12:30 PM Report abuse +1 rate up rate down Reply
appalled_patriot

I wonder how much Microsoft had to pay Best Buy to promote their products.
windows 8 really, really, sucks.....

June 14 2013 at 11:36 AM Report abuse +2 rate up rate down Reply