Business

Moments ago, America's legendary gun maker Smith & Wesson reported second quarter earnings which, not surprisingly, beat estimates on the top and bottom line, reporting non-GAAP earnings of $39.1 million, or EPS of $0.68, far above the $0.58 expected, and some 172% higher compared to a year earlier, on revenue of $233.5 million -a 63% increase Y/Y - which beat the high end of the company's own guidance of $230 million, as well as beating street estimates of $227.5 million. Quarterly Adjusted EBITDAS was $72.4 million, or 31.0% of net sales.

Starbucks has announced that its CEO, Howard Schultz, a vocal proponent of the minimum wage and vocal supporter of Hillary Clinton not to mention the person who almost single-handedly created Starbucks as a worldwide brand, is stepping down to focus on opening higher-end coffee shops for the company. He will be replaced by COO Kevin Johnson.

The stock was down as much as 11% on the news but has since rebounded to -4% on the session.

The full press release:

Starbucks Announces New Leadership Structure to Drive Next Wave of Global Growth

For Bondholders, Big Tech shareholders, and Mexicans, here's the message...

Well if you thought November was turmoily, December is off to a turmoilier start...

When we last looked at the performance of deep discount retailer Dollar General three months ago, we found something troubling: company CEO Todd Vasos, who badly missed its earnings expectations, admitted on the Q2 conference call that he was surprised to admit that while on the surface things are supposed to be getting better, the reality is vastly different for low-income US consumers:

After securing a deal to save 1,100 jobs at a Carrier plant in Indiana from being exported to Mexico, Trump is set to kick off his Midwest "Thank You Tour" with a speech there which is expected to get started around 2pm EST.