Shares of Growth Seeker holding TASER International (TASR) rose Thursday afternoon after the conducted-electrical-weapons manufacturer announced a slew of new sales of its body cameras to police departments around the country.
The company announced that it won an order for 963 Axon Body 2 cameras from the San Jose, Calif., police department, in addition to another order of 628 Axon Body 2 cameras and 300 TASER X2 Smart Weapons from the Minneapolis Police Department.
The orders include a five-year subscription to the company's cloud-based digital evidence-management platform, EVIDENCE.com.
"Growing demand for AXON body cameras and EVIDENCE.com reflect law enforcement agencies' shift in focus toward accountability and trust," the company said in a press release. "Demand for TASER's products and services have seen an impressive rise, particularly in the U.S., following increasing tensions between law enforcement officials and the public. However, the company has witnessed ups and downs in its business given intensifying competition in the space and cyclical sales of its products."
The European Commission issued a statement of objections accusing the company of running afoul of the political bloc's antitrust rules based on how it restricts any website using its search function from showing advertising sold by other companies. The EU also updated the charge sheet from the allegations it levied against the company last year, saying that Google uses its search engine to harm competitors of its comparison-shopping service.
AAP senior analyst Scott Berman has commented previously that unless the EU plans on making Alphabet fundamentally change the way its search engine operates, investors have little to fear in terms of long-term repercussions from the EU's prolonged investigation of the company.