Tag Archives: Freedom Group

Market Minute: Maker of Bushmaster Rifle Eyed for Acquisition

By DailyFinance Staff

Filed under: ,

Kevork Djansezian/Getty ImagesA Smith & Wesson .357 magnum revolver is displayed for customers to rent at the Los Angeles Gun Club.

On Wednesday the Dow Industrials fell 138 points, the S&P 500 lost 22 and the Nasdaq tumbled 60. The market has suffered two of its biggest losses of the year this week.

Gun makers Smith & Wesson (SWHC) and Sturm Ruger (RGR) have reportedly expressed interest in acquiring Freedom Group, which makes the Remington and Bushmaster brands. The Wall Street Journal says Freedom could be valued at around a billion dollars. Defense contractor Alliant Techsystems (ATK) may also consider a bid.

On the earnings scorecard:

  • Verizon’s (VZ) net rose a better-than-expected 16 percent, as the company continued to add phone and FiOS customers.
  • UnitedHealth Group’s (UNH) profit fell 14 percent. The company also lowered its revenue estimate for the full year.
  • Investors are ready to hang up on phone maker Nokia (NOK) after its sales dropped 20 percent.
  • American Express (AXP) says its net edged up by two percent, but that still beat expectations.
  • EBay’s (EBAY) net rose 19 percent, but the internet retailer’s forecast for the current quarter was bit shy of expectations.
  • After the close we’ll hear from three tech industry giants: Microsoft (MSFT), Google (GOOG) and IBM (IBM).

Apple (AAPL) has lost $300 dollars a share since peaking in September. That’s a drop of more than 42 percent.
The company’s stock briefly dipped below $400 yesterday after a key supplier, Cirrus Logic (CRUS), warned its revenue would fall short of expectations.

The Federal Reserve is apparently considered new measures to make sure some banks are not “too big to fail.” A pair of Fed officials said major financial institutions may be required to hold even higher levels of capital.

And Gap (GPS) says it plans to expand its presence overseas, opening Old Navy stores in China and elsewhere.

%Gallery-184509%

Permalink | Email this | Linking Blogs | Comments

From: http://www.dailyfinance.com/on/smith-wesson-sturm-ruger-bushmaster/

Freedom Group, Inc. Announces Fiscal Year 2012 Financial Results Conference Call

By Business Wirevia The Motley Fool

Filed under:

Freedom Group, Inc. Announces Fiscal Year 2012 Financial Results Conference Call

MADISON, N.C.–(BUSINESS WIRE)– Freedom Group, Inc., one of the world’s leading designer and manufacturer of firearms, ammunition and related products, announces that it has released its fiscal 2012 financial results. A copy of the Company’s Form 10-K for the fiscal year ended December 31, 2012 is posted on www.freedom-group.com in the investor information section.

Ron Kolka, the Company’s Chief Financial Officer, will host a conference call on Thursday, March 28, 2013 at 3:00 p.m. ET to discuss the financial results of the year ended December 31, 2012, and answer questions from the investor audience. Interested parties may participate by dialing 1-888-726-2458 (U.S. and Canada) or 1-913-312-1495 (International), and providing the conference ID number: 9425519.

A telephonic replay will be available beginning at 6:00 p.m. ET on Thursday, March 28, 2013, and will last through April 4, 2013. The replay may be accessed by dialing 1-877-870-5176 (U.S. and Canada) or 1-858-384-5517 (International) and providing the same conference ID number listed above.

About Freedom Group, Inc.

Freedom Group, Inc., headquartered in Madison, N.C., is one of the world’s leading innovator, designer, manufacturer, and marketer of firearms, ammunition, and related products for the hunting, shooting sports, law enforcement, and military markets. As one of the largest manufacturers in the world of firearms and ammunition, we have some of the most globally recognized brands including Remington, Bushmaster, DPMS/Panther Arms, Marlin, H&R, NEF, Dakota Arms, LC Smith, Parker, AAC, Barnes Bullets, EOTAC, Mountain Khakis, Para, Montana, Tapco, Lar and Dublin Dog. For more information download the Freedom Group Brochure, located on www.freedom-group.com.

ICR, Inc.
James Palczynski, 203-682-8229
jp@icrinc.com

KEYWORDS:   United States  North America  North Carolina

INDUSTRY KEYWORDS:

The article Freedom Group, Inc. Announces Fiscal Year 2012 Financial Results Conference Call originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

…read more
Source: FULL ARTICLE at DailyFinance

Pentagon Awards More Than $102 Million in Contracts

By Rich Smith, The Motley Fool

Filed under:

On Monday, the Department of Defense announced a number of smallish (in defense industry terms) contracts awarded to several companies. Among these:

  • The smallest of the day’s awards went to Raytheon , which won a $6.6 million modification to a previously awarded Foreign Military Sales contract. Raytheon will supply four torpedo tube launched (TTL) Tomahawk Block IV cruise missiles to the U.K. military. The DOD announcement clarifies that there are variants of the Tomahawk Block IV: missiles launched from a surface ship equipped with a vertical launch system (VLS), those launched from a submarine equipped with a capsule launch system (CLS), and those launched from a submarine equipped with a TTL launch system. Delivery is scheduled for February 2015.
  • Northrop Grumman won a $7.1 million contract for work on the “Litening ATP-SE [Advanced Targeting Pod — Sensor Enhancement ] Phase IV Operational Flight Program.” Largely a Lockheed Martin program, other companies also work on the pod, and Northrop is one of them. This contract runs through Jan. 12, 2015.
  • Lockheed was awarded a $9 million “not to exceed delivery order” under a previously awarded basic ordering agreement “for the repair of parts for the NA/UYQ-70 advanced display and processor systems for tactical and command, control, communication, computers intelligence (C4I).” Due date: March 2014.
  • Remington Arms, a subsidiary of the gunsmiths-holding company Freedom Group, itself (for now) a subsidiary of private equity powerhouse Cerberus Capital, got the biggest award on Monday’s list: a 10-year (starting from March 7, 2013) contract to supply up to 5,150 precision sniper rifle (PSR) systems for U.S. Special Operations forces, and 4.7 million rounds of ammunition. The estimated contract value is $79.7 million.

 

link

The article Pentagon Awards More Than $102 Million in Contracts originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin, Northrop Grumman, and Raytheon Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
b.type=”text/javascript”;b.async=!0;b.src=(“https:”===c.location.protocol?”https:”:”http:”)+
‘//cdn.mxpnl.com/libs/mixpanel-2.2.min.js’;d=c.getElementsByTagName(“script”)[0];
d.parentNode.insertBefore(b,d);a._i=[];a.init=function(b,c,f){function d(a,b){
var c=b.split(“.”);2==c.length&&(a=a[c[0]],b=c[1]);a[b]=function(){a.push([b].concat(
Array.prototype.slice.call(arguments,0)))}}var g=a;”undefined”!==typeof f?g=a[f]=[]:
f=”mixpanel”;g.people=g.people||[];h=[‘disable’,’track’,’track_pageview’,’track_links’,
‘track_forms’,’register’,’register_once’,’unregister’,’identify’,’alias’,’name_tag’,
‘set_config’,’people.set’,’people.increment’];for(e=0;e<h.length;e++)d(g,h[e]);
a._i.push([b,c,f])};a.__SV=1.2;})(document,window.mixpanel||[]);
mixpanel.init("9659875b92ba8fa639ba476aedbb73b9");

function addEvent(obj, evType, fn, useCapture){
if (obj.addEventListener){
obj.addEventListener(evType, fn, useCapture);
…read more
Source: FULL ARTICLE at DailyFinance

Newtown gathers again to mourn victims, including hero teacher who 'loved her job'

For a third straight day Wednesday, funeral processions rolled through a grieving Connecticut town trying to make sense of the massacre of 20 first-graders and six adults in an elementary school less than two weeks before Christmas.

A 7-year-old boy who had dreamed of being a firefighter and a heroic first-grade teacher who died while trying to shield students from the carnage were among the victims laid to rest in what has become an unrelenting cycle of sorrow and loss.

“The first few days, all you heard was helicopters. Now at my office all I hear is the rumble of motorcycle escorts and funeral processions going back and forth throughout the day,” said Dr. Joseph Young, an optometrist who said he had already been to one funeral and would be going to several more.

Students in Newtown returned to school Tuesday, except those from Sandy Hook Elementary, where a gunman armed with a military-style assault rifle slaughtered the children and six teachers and administrators last Friday. He also killed his mother at her home.

Students at Sandy Hook, which serves kindergarten through fourth grade, will resume classes in a formerly shuttered school in a neighboring community in January.

President Barack Obama pressed Congress on Wednesday to reinstate an assault weapons ban that expired in 2004, and called for stricter background checks for people who seek to purchase weapons as well as a limit on high-capacity ammunition clips.

“This time, the words need to lead to action,” said Obama, who set a January deadline for the recommendations.

In Newtown, Education Secretary Arne Duncan held a closed meeting with Sandy Hook Elementary staff, and also planned to attend the wake of slain principal Dawn Hochsprung.

In what has become a dark rite of passage in America, survivors of Minnesota’s 2005 school shooting on the Red Lake Indian Reservation that killed 10, including the gunman, traveled to Connecticut to offer comfort to the community. They said they sought to repay the support they received nearly eight years ago from survivors of the Columbine High School killings in Colorado.

In the meantime, mourners overlapped at back-to-back funerals that started Monday and will continue all week.

The first of Wednesday’s funerals was for 7-year-old Daniel Barden, a gap-toothed redhead and the youngest of three children whose family called “a constant source of laughter and joy.”

“Always smiling, unfailingly polite, incredibly affectionate, fair and so thoughtful toward others,” the family said of the boy.

Hundreds of firefighters formed a long blue line outside St. Rose of Lima Catholic Church as bells sounded and bagpipes played. Daniel wanted to join their ranks one day, and many came from New York, where his family has relatives who are firefighters.

Family friend Laura Stamberg of New Paltz, N.Y., whose husband plays in a band with Daniel’s father, Mark, said Daniel was a thoughtful boy who held doors for people and would sit with another child if he saw one sitting alone.

She said that on the morning of the shooting, Mark Barden played a game with his son and taught him a Christmas song on the piano.

“They played foosball and then he taught him the song and then he walked him to the bus and that was their last morning together,” Stamberg said.

At the same time, in the town of Stratford, family and friends gathered to say goodbye to Victoria Soto, a 27-year-old teacher who was killed while trying to shield her students, some of whom managed to escape.

“She had the perfect job. She loved her job,” said Vicky Ruiz, a friend of Soto’s since first grade.

Every year, she said, Soto described her students the same way. “They were always good kids. They were always angels,” even if, like typical first-graders, they might not always listen, Ruiz said.

Students Charlotte Bacon and Caroline Previdi were to be laid to rest later Wednesday, and a wake was held for Hochsprung, the school’s popular 47-year-old principal. She and school psychologist Mary Sherlach rushed toward gunman Adam Lanza in an attempt to stop him and paid with their lives.

The massacre continued to reverberate around America as citizens and lawmakers debated whether Newtown might be a turning point in the often-polarizing national discussion over gun control.

Private equity firm Cerberus Capital Management announced Tuesday it plans to sell its stake in Freedom Group, maker of the Bushmaster rifle, following the school shootings. In Pittsburgh, Dick’s Sporting Goods said it is suspending sales of modern rifles nationwide because of the shooting. The company also said it’s removing all guns from display at its store closest to Newtown.

Lawmakers who have joined the call to consider gun control as part of a comprehensive, anti-violence effort next year included 10-term House Republican Jack Kingston, a Georgia lawmaker elected with strong National Rifle Association backing.

The National Rifle Association, silent since the shootings, said in a statement that it was “prepared to offer meaningful contributions to help make sure this never happens again.” It gave no indication what that might entail.

And no indication has been made publicly about the motive of the 20-year-old Lanza, who, clad all in black, broke into Sandy Hook Elementary and opened fire on students and staff.

Authorities say the horrific events of Friday began when Lanza shot his mother, Nancy, at their home, and then took her car and some of her guns to the nearby school.

Investigators have found no letters or diaries that could explain the attack.

A Connecticut gun shop owner said Wednesday that he sold a gun several years ago to Nancy Lanza, and was “appalled” that it may have been used in the killings. David LaGuercia, owner of Riverview Gun Sales in East Windsor, said in a statement he is cooperating with police.

Also Wednesday, the family of 6-year-old victim Noah Pozner, who was buried Monday, asked authorities to investigate scam artists who were soliciting funds in the boy’s name.

Source: Fox US News

Cerberus to sell stake in Bushmaster gun maker

Private equity firm Cerberus Capital Management is planning to sell its stake in Freedom Group, maker of the Bushmaster rifle, following the Newtown, Conn., school shootings.

On Friday, 26 people were killed at Sandy Hook Elementary School in one of the worst mass shootings in U.S history. The gunman, Adam Lanza, used a .223-caliber Bushmaster rifle during the shootings.

Cerberus said in a statement Tuesday that it was deeply saddened by Friday’s events. The firm said that it will hire a financial adviser to help with the process of selling its Freedom Group interests.

Cerberus said that money made from the stake sale will be returned to its investors.

Source: Fox US News