News

(Bloomberg) -- Bond traders can’t predict what US President Donald Trump will do next, but that uncertainty can be exploited to generate strong returns, according to Pacific Investment Management Co.’s chief investment officer.Most Read from BloombergState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesCitadel to Leave Namesake Chicago Tower as Employees RelocateNYC’s Newest Transit Leader Builds a Worker-Driven Strategy

BlackRock is gearing up to launch a bitcoin exchange-traded product in Europe within weeks, a source familiar with the matter told Reuters, amid growing demand for exposure to cryptocurrencies from both money managers and consumers. The Wall Street giant has incorporated a Zurich-based company focused on digital assets - iShares Digital Assets AG - in recent months, according to a regulatory filing seen by Reuters. BlackRock declined to comment.

Shares of multi-industry consumer and professional products manufacturer Griffon Corporation (NYSE:GFF) jumped 10.7% in the morning session after the company reported fourth-quarter financial results, which blew past analysts' EBITDA and EPS expectations. On the other hand, its revenue slightly missed, as modest improvements in the Home and Building Products (HBP) segment were offset by weaker demand in Consumer and Professional Products (CPP), particularly in North America and the UK​. Overall,

Shares of modular home and building manufacturer Champion Homes (NYSE:SKY) jumped 11.1% in the morning session after the company reported fourth-quarter results that significantly exceeded analysts' sales volume expectations. Sales grew 15.3% year-on-year, driven by a 14.1% increase in US homes sold and a 2.8% rise in the average selling price per home​. Gross margin expanded to 28.1%, benefiting from higher sales through company-owned retail centers and lower input costs​. EPS beat analysts' ex

Shares of social network Snapchat (NYSE: SNAP) fell 7.1% in the morning session after the company reported underwhelming fourth-quarter results, with revenue roughly in line with expectations.

Shares of building operations company Johnson Controls (NYSE:JCI) jumped 12% in the morning session after the company reported strong first-quarter results, with organic revenue growing 10% year-on-year, exceeding analysts' expectations​. This was driven by a 16% increase in orders and an 11% rise in its Building Solutions backlog. Looking ahead, its EPS guidance for next quarter came in higher than Wall Street's estimates. Zooming out, we think this was a good quarter with some key areas of ups

Shares of aerospace and defense company Mercury Systems (NASDAQ:MRCY) jumped 21.6% in the pre-market session after the company reported a strong quarter, with revenue, EBITDA, and EPS all surpassing expectations by a wide margin. Sales grew 13% year-on-year, supported by increased bookings and a book-to-bill ratio of 1.09, signaling sustained demand​. Revenue guidance for the next quarter was also ahead of expectations.

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.

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.

The fund would be based in Switzerland and BlackRock could start marketing it as soon as this month, according to the story.