Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a month-long truce.Marketsread more
Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
Gun makers are again the center of a national debate over how to put an end to mass shootings, and their stocks are trading like things are different this time.
Several major U.S. companies have dropped their associations with the National Rifle Association in the last few days, less than two weeks after a 19 year old with a semi-automatic rifle killed 17 people in a high school in Florida. Student protests and calls for action have stayed in the headlines, and politicians are under pressure to enact new gun safety rules.
As with deadly shootings in the past, some of the focus has been on the companies that make the weapons and ammunition and the people and companies that own them. Shareholder activism on gun control tends to flourish in the weeks following an incident and then fade away, if history is any guide.
Shares of gun makers follow a similar pattern. They drop in the immediate aftermath of a shooting and are mostly trading higher three months later. But data by a hedge fund analytics tool called Kensho shows the stocks of these companies are reacting differently this time.
Shares of Vista Outdoor are up 20 percent this month. It makes accessories like riflescopes as well as bullets.
An analysis of the five deadliest mass shootings in recent U.S. history reveals that shares of those three companies traded down from the day of the incident to one week later, but not by as much as they are reacting now to the high school shooting in Florida.
Shares of Sturm Ruger, for example, averaged a one-week decline of 2.9 percent after the five biggest shootings since 2007, according to Kensho data. Shares of American Outdoor averaged a decline of 3.56 percent, while Vista shares fell an average 2.25 percent.
Three months after the date of those shootings, shares of Sturm Ruger averaged gains of 9.3 percent, and American Brands traded up 8.3 percent, according to Kensho data. Vista shares averaged a three-month decline of 19 percent, however.
The five deadliest shootings include those that occurred at the concert in Las Vegas and at the church in Texas in November, at the nightclub in Florida in 2016, at Virginia Tech in 2007 and at the elementary school in Connecticut in 2012.
Disclosure: NBCUniversal, parent of CNBC, is a minority investor in Kensho.