Smith & Wesson Leads Gunmaker Rally After Obama Victorious
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Smith & Wesson Holding Corp. climbed the most in two months to lead a rally among firearms manufacturers as traders speculated that President Barack Obama’s re-election will spur gun sales.
Shares of Smith & Wesson jumped 9.6 percent to $10.37 at the close in New York, the biggest gain since Sept. 7, while Sturm Ruger & Co. rose 6.8 percent to $47.68. Both make handguns as well as rifles that include semiautomatic models.