Diamonds and Dogs

9/8/23

Smith and Wesson (SWBI) having a good day. The gun maker is up 11% following better than expected earnings and sales that rose 35% to $114 million ahead of estimates. California passed 11% excise tax on gun and ammunition sales, but that didn't seem to hurt the company.

RH (RH) sees a problem in the luxury housing space. The former Restoration Hardware is down 15% following earnings. The earnings were actually good, but sales fell revenues fell 19.3% to $800.48 million. The company provided downside guidance as management sees a challenging environment through the rest of 2023 and into next year due in part to mortgage rates continue to trend at 20-year highs.

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