Smith & Wesson parent’s stock on track for biggest one-day gain in 18 years

American Outdoors Brands Corp. stock AOBC, +37.87% rallied 40% Friday, putting it on track for its biggest one-day gain since November of 2000, after the company posted better-than-expected earnings for its fiscal first quarter. The company, which makes other products for outdoor pursuits, said it had net income of $7.7 million, or 14 cents a share, after losses of $2.2 million, or 4 cents a share, in the year-ago period. Adjusted for items such as amortization of acquired intangible assets, earnings were 21 cents a share, well ahead of the 12 cents FactSet consensus. Revenue rose to $138.8 million from $129 million in the year-ago period to beat the $134.5 million FactSet consensus. The stock has now gained 5% in 2018, while the S&P 500 SPX, -0.20% has gained 8%.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Source: Read Full Article