Market Minute: Smith & Wesson Earnings Shoot Up; Heineken Has a Flashy Idea

A gunmaker's profit shoots higher, and sluggish beer demand inspires innovation. Those and more are what's making business news Wednesday.

The Dow industrials (^DJI) recovered 100 points Tuesday, after several days of heavy selling. The S&P 500 (^GPSC) gained nearly 15 points and the Nasdaq (^IXIC) rose 27.
nyse stock exchange traders stock market preview earnings
Richard Drew/AP

Smith & Wesson (SWHC) says its quarterly earnings more than doubled from a year ago. Demand for firearms soared as the debate over gun control heated up following the shooting in Newtown, Conn., last year. Even though the gunmaker has expanded production, it says it can't keep up with demand.

But demand for beer has gone flat -- so beer-makers are going high tech. According to The Wall Street Journal, Heineken is developing a bottle that produces a strobe light effect as it's consumed, lights up when clicked with another bottle and flashes to the beat of music. Anheuser-Busch InBev (BUD), SAB Miller and other brewers are also working on some tech gimmicks to encourage social drinking.

Lorillard (LO) has won federal approval to sell two new cigarette brands -- new versions of non-menthol Newport. It's the first approval by the Food & Drug Administration since it was given the authority to do so in 2009. The FDA also turned down four other applications for new cigarettes.

Microsoft (MSFT) today offers a glimpse at Windows 8.1. The free update aims to fix some of the glitches and complaints about the original version of the operating system introduced eight months ago.

General Mills (GIS) quarterly earnings met expectations, but the food maker's outlook for the rest of the year was a bit disappointing.

The for-profit education firm Apollo Group (APOL) posted a 40 percent earnings decline, as enrollment fell. But the parent of the University of Phoenix did raise its outlook for the full year.

And oil giant BP (BP) has placed full page ads in several leading newspapers as it challenges some of the potential payouts in the wake of the 2010 oil spill in the Gulf of Mexico. The company says it's trying to avoid payouts to businesses that didn't suffer any spill-related losses.

-Produced by Drew Trachtenberg

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June 26 2013 at 5:19 PM Report abuse rate up rate down Reply
1 reply to pdbliz's comment

If I were you I would learn to spell at least at the second grade level before you make a fool of yourself again.

June 26 2013 at 7:03 PM Report abuse +1 rate up rate down Reply
1 reply to timothytd777's comment

That was ebonics.

June 26 2013 at 8:54 PM Report abuse +1 rate up rate down

Times are good, people buy guns. When times are bad, people buy more guns. Excellent investment.

June 26 2013 at 4:57 PM Report abuse +1 rate up rate down Reply

Hmmmm, since the great BUSH recession with a record negative GDP, (if you know what that is) GDP is up, auto industry is up, housing is up, wall street is up, aerospace is up, energy sector is up and my business is up

What an uninformed douche you are

June 26 2013 at 3:32 PM Report abuse -2 rate up rate down Reply
4 replies to h.hughjardon's comment

"Smith & Wesson Earnings Shoot Up", that headline editor has a sense of humor. May I add, earnings aren't the only thing they "shoot up", a few people here and there however, that's not funny.

June 26 2013 at 3:03 PM Report abuse +1 rate up rate down Reply
George Spalding

Isn't that such a CUTE headline for a story; "Smith & Wesson earnings SHOOT UP". Where do these people come up with this stuff?

June 26 2013 at 2:46 PM Report abuse +1 rate up rate down Reply

the ONLY industry Obama has helped is the GUN/AMMO industry!!! All americans better keep stocking up on guns and ammo before Obama makes a grab for them.

June 26 2013 at 1:57 PM Report abuse +5 rate up rate down Reply

The AG is a big supporter of selling guns internationally. Heck , even drug lords can buy wholesale without a check on the buyer.... right Barry?

June 26 2013 at 1:01 PM Report abuse +2 rate up rate down Reply
3 replies to cpo1514's comment

Ha! they get richer because the goat roper trailer trash rednecks keep buying. Just proves teapublicans got cat dung for brains! Paying double the price for weapons they'll end up shooting they're eye out with! lmao!

June 26 2013 at 1:00 PM Report abuse rate up rate down Reply

"A gunmaker's profit shoots higher, and sluggish beer demand inspires innovation."

now HOW COULD that be ??
guns UP
beer down ???

where ARE ALL the libturds on THAT ONE ?
according to THEM,their ideas on "gun culture" include boozing it up and playing witjh firearms.

June 26 2013 at 12:43 PM Report abuse -1 rate up rate down Reply
1 reply to setanta54s_back's comment

miley ?????

June 26 2013 at 12:56 PM Report abuse +1 rate up rate down Reply

guns today in amerika are only for those of us who are the weakest mentally and physically. that is just the plain old truth. little people love/need guns.

June 26 2013 at 11:21 AM Report abuse -5 rate up rate down Reply
7 replies to mily469's comment