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Expand chart
Data: Factset; Chart: Axios Visuals

The former Smith & Wesson has seen its stock fall badly this year, but got a reprieve on Wednesday after it released its fiscal year 2019 earnings report.

What happened: The company didn't deliver great numbers, but they weren't as bad as feared, which made the stock's 25% decline so far this year look a bit overdone.

  • AOBC closed fiscal 2019 with a net income of $18.4 million, or 33 cents per share, down from $20.1 million net income, or 37 cents a share, reported in fiscal 2018.

What they're saying: "Fiscal 2019 was a year that presented challenges for the firearms industry, including changes in the political environment and reduced consumer demand for firearms and for the accessories that are attached to them," said James Debney, AOBC's president and CEO.

The big picture: AOBC's stock has had a hard time since President Barack Obama left office, data provided to MarketWatch's Paul Brandus from the National Shooting Sports Foundation shows. Between 2008 and 2017:

  • Gun industry jobs grew 87% — but just 1.3% in 2017, Obama's first full year out of office.
  • Wages grew 142% — but have grown just one-third of one-percent since.

The bottom line: The "total economic impact" of the gun industry grew 169% — but has grown just 1.4% since.

Go deeper: How Corporate America is silencing the gun industry

Go deeper

Trump threatens to veto Defense spending bill over social media shield

Photo: Erin Schaff - Pool/Getty Images

President Trump tweeted Tuesday a threat to veto a must-pass end-of-year $740 billion bill defense-spending authorization bill unless Congress repeals a federal law that protects social media sites from legal liability.

Why it matters: Trump's attempt to get Congress to end the tech industry protections under Section 230 of the Communications Decency Act is the latest escalation in his war on tech giants over what he and some other Republicans perceive as bias against conservatives.

The walls close in on Trump

Photo: Tasos Katopodis/Getty Images

With Bill Barr's "Et tu, Brute!" interview with AP, President Trump is watching the walls close in on his claims of fraud, hoaxes and conspiracies.

Why it matters: Trump and his legal team continue to claim election fraud. But the Republican governors of Arizona and Georgia have certified their elections, a loyalist like Barr has weighed in, and lower-ranking officials have taken potshots.

Congress plots COVID pandemic-era office upgrades

oving crates outside Rep. Elise Stefanik's old office Tuesday. Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images

The House plans to renovate members' suites even though staff are worried about an influx of contractors and D.C. is tightening restrictions on large gatherings, some staffers told Axios.

Why it matters: The Capitol has been closed to public tours since March. Work over the holiday season comes as U.S. coronavirus cases spike, Americans beg for more pandemic assistance and food lines grow.