Smith & Wesson's Stock Slumps After Missing Out On U.S. Army Deal

Shares of Smith & Wesson Holding Corp. slumped 2.5% in premarket trade Monday, after the gun maker disclosed in a filing that its bid to make replacements for the U.S. Army's standard M9 sidearm was denied. The filing was made after Friday's closing bell. The company said the Army deal was never included in its financial guidance. The stock had run up 25% year to date through Friday, while the S&P 500 had gained 5.9%.