Market roundup: Dick's Sporting Goods sees results in decision to end gun, ammo sales

November 30, 2019 at 5:37AM
A Dick's Sporting Goods store is seen in Arlington Heights, Ill., Wednesday, Feb. 28, 2018. Dick's Sporting Goods announced Wednesday that it will immediately end sales of assault-style rifles and high capacity magazines at all of its stores and ban the sale of all guns to anyone under 21. Dick's had cut off sales of assault-style weapons at Dick's stores following the Sandy Hook school shooting. But Dick's owns dozens of its Field & Stream stores, where there has been no such ban in place. (AP
The stock price for Dick’s Sporting Goods rose after it reported better-than-expected quarterly results. (The Minnesota Star Tribune)

On a roll: Dick's Sporting Goods surged 18.6% to $46.78 Tuesday as it raised its full-year earnings expectations for the third time this year, after reporting quarterly results that topped analysts' estimates after a decision to end gun and ammunition sales. Shares closed the week at $45.81.

Tariff impact: Dollar Tree slumped 14.4% to $96.11 Tuesday after the discount store operator forecast holiday-quarter profit below expectations, as it expects a hit from U.S. tariffs on Chinese imports. Shares closed Friday at $91.46.

Luxury combination: Tiffany jumped 6.2% to $ 133.25 Monday after French luxury company LVMH agreed to buy it for $16.2 billion or $135 a share. Shares closed the week at $133.80.

Brokerage deal: TD Ameritrade soared 7.6% to $51.78 Monday after rival discount broker Charles Schwab agreed to take it over for $26 billion. TD Ameritrade shares closed the week at $51.83. Schwab, up 2.3% to $49.31 on the news, closed Friday at $49.50.

Stalled tractors: Deere fell 5.2% to $ 167.47 Wednesday after giving investors a weak profit forecast because farmers are spending less money on new equipment. Shares closed Friday at $168.05.

Extreme oversight: Boeing fell 2.7% to $370.85 Wednesday after safety regulators indicated that they will keep full control over approvals of each new 737 Max built. The decision affects more than 300 finished Max jets currently sitting in storage. Shares closed the week at $366.18.

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Dick Enrico
Star Tribune/The Minnesota Star Tribune

The Minnesota businessman left his mark on generations with the slogan: “Why buy new when slightly used will do?”

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