BUZZ-U.S. STOCKS ON THE MOVE-Sturm Ruger, MannKind, Republic Airways
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U.S. stock indexes recovered on Tuesday from a bruising selloff on the first trading day of the year, but early gains evaporated as investors remained wary of a global economic slowdown. The Dow Jones industrial average was down 0.34 percent at 17,090.93, the S&P 500 was down 0.09 percent at 2,010.77 and the Nasdaq Composite was down 0.18 percent at 4,894.408.
** SMITH & WESSON HOLDING CORP, $25.17, +8.12 pct
** STURM RUGER & CO INC, $65.32, +6.40 pct
Gun makers' shares soared after President Barack Obama unveiled gun control measures and Smith & Wesson released a more bullish financial outlook.
BB&T raised its rating on Smith & Wesson to "buy" from "hold". Cowen and Co increased its price target to $27 from $25, while Wunderlich raised it to $29 from $25.
BB&T also increased its price target on Sturm Ruger to $70 from $63.