Shares of industrial materials and tools company Kennametal (NYSE:KMT) fell 6.4% in the morning session after the company reported weak fourth-quarter results. Its full-year EPS guidance missed significantly, and its revenue guidance for the next quarter also fell short of Wall Street's estimates. Management attributed the weaker outlook to deteriorating market conditions, particularly in EMEA.​ Overall, this was a softer quarter.
Why Amgen (AMGN) Stock Is Trading Up Today
Shares of biotech company Amgen (NASDAQ:AMGN) jumped 5.3% in the morning session after the company reported strong fourth-quarter results. Amgen exceeded analysts' revenue expectations this quarter, and its full-year revenue guidance came in slightly higher than Wall Street's estimates. On the other hand, its full-year EPS guidance slightly missed, and its EPS was in line with Wall Street's estimates. Overall, this quarter was mixed with better-than-anticipated sales but mediocre profitability.
Blackrock Plans to Launch a Bitcoin ETP in Europe: Bloomberg
The fund would be based in Switzerland and BlackRock could start marketing it as soon as this month, according to the story.
Trump's FDIC Chief Rethinks Crypto Guidance as U.S. Senators Probe Debanking
FDIC Acting Chairman Travis Hill said the agency is overhauling its crypto approach, just as U.S. senators examined regulators keeping banks out of crypto.
GSK Stock Jumps on Long-Term Outlook Boost, $2.5B Share Buyback Plan
GSK Plc's U.S.-listed shares surged Wednesday after the pharmaceutical firm boosted its long-term outlook and launched a $2.5 billion stock buyback on the back of optimism about sales of its new drugs.
Top Stock Movers Now: Alphabet, AMD, Match Group, and More
U.S. equities were mixed at midday, slowed by new Chinese tariffs on U.S. goods and weak tech results.
Standard Chartered says Bitcoin could hit $500K under Trump
Standard Chartered’s Geoffrey Kendrick predicts Bitcoin could hit $500,000 by 2028, driven by institutional inflows, improved investor access, and declining volatility.
Supermicro Stock Soars Further Ahead of Business Update
Shares of Super Micro Computer surged for a second straight session after it said it would give a second-quarter business update next week.
Gold-Backed Cryptocurrencies Surge as Precious Metal Hits Record Amid Trade War Worry
The precious metal has rallied nearly 10% so far this year while most top cryptocurrencies struggled to stay in the green.
Bitcoin to Hit $500K by 2028 as ETFs Ease Access, Volatility Drops: Standard Chartered
The bank expects institutional inflows into spot bitcoin ETFs to grow as volatility drops, leading to significant price appreciation in the long term.