Key Developments For BGC Partners, Inc.
BGC Partners, Inc. (BGCP.O) (Nasdaq)
BGC Partners, Inc. Issues Q4 2009 Outlook; Revenue Outlook In-Line With Analysts' Estimates-Conference Call
BGC Partners, Inc. announced that for the fourth quarter of 2009, it expects to generate distributable earnings revenues of between $255 million and $275 million, pre-tax distributable earnings of between $12 million and $20 million and post-tax distributable earnings of between $9 million and $15 million. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $267 million for the fourth quarter of 2009.
BGC Partners, Inc. Issues Q3 2009 Guidance; Revenue Guidance Below Analysts' Estimates-Conference Call
BGC Partners, Inc. announced that it expects to generate distributable earnings revenues of between $265-$285 million in the third quarter of 2009. This revenue outlook would have been approximately $9 million higher if not for the relative appreciation of the US dollar when comparing it to last year. The Company expects third quarter 2009 pretax distributable earnings of between $21-$29 million, and post-tax distributable earnings of between $15-$21 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $286 million and net profit of $18 million for the third quarter 2009.
BGC Partners, Inc. Finalizes Acquisition of Liquidez
BGC Partners, Inc. announced the completion of its acquisition of Liquidez DTVM Ltda., a Brazilian inter-dealer broker of foreign exchange derivatives, commodities, credit, equities, and interest rate products. Terms of the transaction were not mentioned.
BGC Partners, Inc. Issues Q2 2009 Guidance-Conference Call
BGC Partners, Inc. announced that for second quarter of 2009, it expects distributable earnings revenues of between $260 million and $280 million, pretax distributable earnings of between $20 million and $28 million and post-tax distributable earnings of between $14 million and $20 million.
BGC Partners, Inc. Announces Strategic Alliance with ConvergEx Group
BGC Partners, Inc. announced that it has formed a strategic alliance through one of its affiliates, with BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology solutions. Through the agreement, the Company can now offer its customers ConvergEx`s full line of electronic, portfolio and sales trading capabilities for equities, fixed income and US listed options.
