U.S. gun shares extend gains after strong Smith & Wesson earnings

Shares of firearm makers surged on Thursday after a strong quarterly report from Smith & Wesson Holding Corp , adding to gains this week after a shooting at a gay nightclub in Florida in which 49 people were killed. In a stock market reaction that has become familiar after mass shootings, shares of Smith & Wesson and rival Sturm Ruger & Co spiked as much as 11 percent on Monday. Others buy them in case U.S. gun control laws become stricter.