Smith & Wesson (SWHC), Ruger (RGR) Higher as Biden to Meet with NRA, Organizations

January 8, 2013 3:58 PM EST
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Smith & Wesson Holding (NASDAQ: SWHC) and Strum, Ruger (NYSE: RGR) appear to be ending Tuesday's session positive following reports that Vice President Joe Biden will be meeting with the National Rifle Association (NRA) and other groups this week.

Biden and his task force are gathering data from both sides, both gun safety organizations, ownership organizations, sportsmen, and shooting victims in an effort to get a broader picture of what is going on in the industry and how current gun laws might change for the better.

TheHill today also reports that Biden will meet with video game manufacturers and those in the entertainment industry, two groups which have been scrutinized following incidents like the tragic one in Newtown, CT, in December. Traders will be keeping an eye on Take-Two Interactive (Nasdaq: TTWO), Electronic Arts (Nasdaq: EA), and Activision Blizzard (Nasdaq: ATVI) this week.

Shares of both arms makers are positive into the close.

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