Ruger shares rise and GE stays even as guns stay in the news

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Sturm Ruger & Co. was joined under the gun control microscope Fairfieldby neighbor General Electric.

Ruger, a gun maker headquartered in Connecticut, which just passed one of the nation’s most strict gun laws, has been receiving threats of boycotts by gun owners unless it moves out of the state where Ruger was founded. General Electric’s plan to stop providing consumer lending services at gun shops, was revealed by solid reporting from the Wall Street Journal this week, leading to promises of toaster, washers and dryer boycotts by similar factions.

Guns remain a topic as various states continue to weigh changes to their laws. Some are looking to restrict sales while others are debating legislation that would restrict the first amendment to protect gun owner privacy and strengthen the right to carry concealed weapons. And recent shootings in the country, both in the Boston Marathon bombing case and in Illinois recently continue to keep concerns about gun violence alive.

The attention has not hurt either company so far. Ruger’s shares were up 3.41 percent Thursday, gaining $1.62 to close at $49.17. The gun maker is to report earnings on Monday and then holds its annual meeting on Tuesday. Forbes and other financial press reported the increase was mostly likely due to expectations of solid earnings.

GE didn’t fare as well as Ruger. It’s shares finished even for the day at $21`.96

Categories: GE, Wall Street
Rob Varnon

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