Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, January 9, 2013

CalSTRS pension fund divests from some gun, ammo makers, (NASDAQ: PLCE)

The second largest U.S. pension fund decided on Wednesday to sell off its investments in the manufacturer of the rifle used in last month's mass shooting at an elementary school in Newtown, Connecticut, and makers of other firearms banned in California.The investment committee of the California State Teachers' Retirement System (CalSTRS), a $154 billion pension fund, also voted to divest from manufacturers of high-capacity ammunition clips illegal in California.The move comes after CalSTRS, just days after the Dec. 14 shootings at Sandy Hook Elementary School, began reviewing its private equity funds managed by Cerberus Capital Management LP and invested in Freedom Group.Freedom Group manufactures the Bushmaster semi-automatic rifle, one of the firearms used by a gunman to kill 20 children and six adults at the school. The gunman also killed his mother and took his own life.

The Children's Place Retail Stores, Inc. operates as a specialty retailer of apparel and accessories for children. Shares of PLCE traded higher by 2.17% or $1.0/share to $46.98. In the past year, the shares have traded as low as $42.21 and as high as $62.24. On average, 472923 shares of PLCE exchange hands on a given day and today's volume is recorded at 774683.