Nov 16, 2017

Trump has been terrible for the gun industry

Illustration: Rebecca Zisser / Axios

Presidents Obama and Trump had very different views toward private gun ownership, but gun manufacturers may be pining for the one who was much more critical of their industry:

Remington Outdoors, the country's largest gun-maker, has become unprofitable in 2017. The privately-held company reports a $60.5 million net loss through October 1 on $467 million in revenue, compared to a $19.1 million gain on $644 million in revenue for the first nine months of 2016. It also reported a whopping 78% drop in EBITDA between the third quarters of 2016 and 2017, causing downward pressure on its bond prices.

Sturm Ruger revenue has fallen nearly 20% year-over-year, and 35% during the third quarter. It remains profitable, but that too has become much narrower.

American Outdoor Brands, which previously was known as Smith & Wesson, swung to a quarterly loss in the third quarter and experienced a 38% decrease in revenue.

Go deeper: Government statistics show a boom in gun manufacturing and sales beginning in 2009, with a particular peak in 2013 (due, perhaps, to unrecognized gun control fears in the wake of the December 2012 massacre at Sandy Hook Elementary School).

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Coronavirus spreads to more countries, and South Korea ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. South Korea's confirmed cases jumped from 204 on Friday to 433 on Saturday.

The big picture: COVID-19 has now killed at least 2,362 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

Go deeperArrowUpdated 18 mins ago - Health

Centrist Democrats beseech 2020 candidates: "Stand up to Bernie" or Trump wins

Bernie Sanders rallies in Las Vegas, Nevada on Feb. 21. Photo: Mario Tama/Getty Images

Center-left think tank Third Way urgently called on the Democratic front-runners of the 2020 presidential election to challenge Sen. Bernie Sanders on the South Carolina debate stage on Feb. 25, in a memo provided to Axios' Mike Allen on Saturday.

What they're saying: "At the Las Vegas debate ... you declined to really challenge Senator Sanders. If you repeat this strategy at the South Carolina debate this week, you could hand the nomination to Sanders, likely dooming the Democratic Party — and the nation — to Trump and sweeping down-ballot Republican victories in November."

Situational awareness

Warren Buffett. Photo: Daniel Zuchnik/WireImage

Catch up on today's biggest news:

  1. Warren Buffett releases annual letter, reassures investors about future of Berkshire Hathaway
  2. Greyhound bars immigration sweeps
  3. U.S. military officially stops offensive operations in Afghanistan
  4. America's future looks a lot like Nevada
  5. Centrist Democrats beseech 2020 candidates: "Stand up to Bernie" or Trump wins