The U.S. stock market had a hectic day that saw its losing streak end at five. The S&P 500 surged 0.3%, while the Dow Jones Industrial Average experienced a 0.5% pop.
A number of companies are on the move after releasing quarterly results, including Smith & Wesson Holding Corp (NASDAQ:SWHC). Meanwhile, Revlon Inc (NYSE:REV) also looks like a major mover thanks to an acquisition, and Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL) is watching its slump worsen.
Here is how these companies did yesterday:
Smith & Wesson Holding Corp (SWHC)
SWHC shares are clawing their way back after a bizarre weak for it and other gun stocks.
Smith & Wesson is up big on Friday after reporting profits of 66 cents per share, which easily beat expectations of 54 cents. Net income overall was up some 62% to $35.6 million. Revenues of $221 million also cleanly beat estimates for $214.6 million.
Forecasts were strong, too, with SWHC projecting full-year revs in a range of $740 million to $760 million and EPS between $1.83 to $1.93. Both exceeded expectations, which came in at $732.3 million and $1.66 per share, respectively.
Gun stocks like SWHC and Sturm, Ruger & Company (NYSE:RGR) popped on Monday in the aftermath of the Orlando shooting, following a usual pattern following high-profile acts of gun violence. However, they lost those gains a day later, with many investors worried that, despite the usual post-incident rush to stores, demand may have peaked.
SWHC shares were up 8% in early Friday trading.
Revlon Inc (REV)
Revlon is shooting higher after it announced the acquisition of Elizabeth Arden, Inc. (NASDAQ:RDEN).
The deal is worth $14.00 per RDEN share, amounting to $870 million. The two beauty products retailers will merge into a company that unites the best attributes of both companies. Revlon’s hair care and cosmetics products will now be complemented by Elizabeth Arden’s skin care products and fragrances.
RDEN shares were up by 47% at Friday’s open, but REV was no laggard, up 8% itself on a very positive reception from the Street.
Alphabet Inc (GOOG, GOOGL)
GOOGL shares are off on very little news, but extremely high volume, as the stock continues to get punished after dropping through their 200-day moving average.
Alphabet’s stock is now off nearly 6% from a small end-of-May peak that was followed by a couple of challenges of resistance at the 50-day MA before shares buckled.
GOOGL was off more than 2% on Friday, with volume reaching nearly half of the stock’s average daily volume of around 2 million shares within the first 45 minutes of trading. Meanwhile, the stock, while heavily sold, isn’t yet oversold on a Relative Strength Index (RSI) basis.
Also troubling — the 50- and 200-day MAs are converging, and could collapse into a death cross should Alphabet remain mired in this slump.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
