Smith & Wesson Rallies After Q1 Beat, Raised Guidance

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Smith & Wesson Holding Corp SWHC shares are trading higher by $1.75 (8.2 percent) at $23.50 in Friday's session. The catalyst for the rally is a Q1 EPS beat of $0.08 along with $7 million more than estimates for sales. The company raised FY 2017 EPS and sales guidance.

After a higher open, it immediate peaked at $24.15 and began to sell off. At this time, the decline has found intra-day support well ahead of the top of the Thursday's range ($21.98), only reaching $23.00. The rebound off the low was capped at $23.74.

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