Gunmakers stocks post gains on regulation news, then recede

January 9, 2016 at 8:00PM

Gunmakers get bump: Gunmakers rose in the first half of the week on reports of strong sales and the prospect of additional background checks and other regulations, which often boost demand. Smith & Wesson rose 13.4 percent Tuesday, to $26.41, closing the week at $22.63 and Sturm Ruger added 8.5 percent, to $66.60 Tuesday, closing Friday at $58.23.

Gap woes: Gap's shares dropped 14 percent Friday, to $22.91 after the retailer said its sales slumped more than expected in December.

Chipotle hit again: Chipotle Mexican Grill stock dropped 5 percent, to $425.90 Wednesday after the company said it received a federal grand jury subpoena as the government looks into norovirus outbreak at a California restaurant this summer. Chipotle also disclosed that sales at restaurants open at least one year plunged 30 percent in December. The stock closed the week at $413.29.

Profit squeeze: AutoNation shares fell 12 percent, to $50.09 Wednesday after the company said that despite robust auto sales it expected to report $250 to $300 less gross profit per vehicle for the fourth quarter. Shares closed the week at $48.82.

iPhone jitters: Apple shares retreated 2 percent Wednesday, to $100.52 on latest indication of iPhone sales slowdown: Foxconn, which assembles most iPhones, said it will cut working hours over the weeklong Lunar New Year holiday. Apple shares closed the week at $96.96.

Ailing CEO: Shares of United Continental Holdings dropped 5 percent Thursday to $52.41 a day after the company's CEO underwent a heart transplant. Oscar Munoz has been on medical leave since suffering a heart attack in October. United shares closed Friday at $51.89.

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Michael Fiddelke, Target CFO, at the downtown Target store Tuesday, Feb. 25, 2020, in Minneapolis, MN.] DAVID JOLES • david.joles@startribune.com Three years ago, Target laid out a bold plan to invest $7 billion into its business that paid off better than anyone could have imagined. Executives will head back to New York this week to lay out the next iteration of their strategy.

Minneapolis-based retailer put its chief operating officer, Michael Fiddelke, in charge of a new unit that will find ways to change faster and add efficiencies.

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