Key Developments: BGC Partners, Inc. (BGCP.O)
3.87USD
9 Feb 2010
$0.05 (+1.31%)
$3.87
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$4.02
$3.80
184,913
259,773
$5.68
$1.37
Latest Key Developments
Standard & Poor's And BGC Partners, Inc.'s BGCantor Market Data To Jointly Develop New U.S. Treasury Indices
BGC Partners, Inc. announced that its subsidiary BGCantor Market Data, L.P. and Standard & Poor's, the world's index provider, have signed an agreement to jointly develop a new family of U.S. Treasury Indices. The new U.S. Treasury Bond Indices, expected to launch in the first quarter of 2010, will use end of day U.S. Treasury bond pricing from BGCantor Market Data, and will be maintained and published by S&P Indices. The joint effort will result in U.S. Treasury Indices designed to meet custom requirements, liability driven investing and portfolio building strategies.
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.
BGC Partners, Inc. Announces Quarterly Dividend and Stock Repurchase Program
BGC Partners, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share payable on December 1, 2008 to Class A and Class B common stockholders of record as of November 17, 2008. It also announced that its Board of Directors had authorized the repurchase of up to $100 million of outstanding Class A common stock.
BGC Partners, Inc. To Acquire Liquidez
BGC Partners, Inc. announced that it has entered into a definitive agreement through one of its affiliates to acquire Brazilian inter-dealer broker Liquidez DTVM Ltda. ("Liquidez"). BGC Partners has agreed to purchase Liquidez for an initial consideration made up of approximately an even amount of cash and partnership equity and which values Liquidez at approximately 7 times its expected 2008 post-tax profits. The transaction is expected to close in the first quarter of 2009.
BGC Partners, Inc. Issues Q3 2008 Revenue Outlook Below Analysts' Estimates; Declares Quarterly Cash Dividend
BGC Partners, Inc. announced that for third quarter 2008, it expects revenues of between $280 and $300 million. This revenue outlook incorporates the approximately 10% increase in the Company's monthly revenue in July of 2008 and a return to normal seasonality for August of 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $302 million for third quarter 2008. The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share payable on September 30, 2008 to Class A and Class B common stockholders of record as of September 15, 2008.
BGC Partners, Inc. Appoints Ernst & Young as Auditors
BGC Partners, Inc. announced that the Audit Committee of its Board of Directors has appointed Ernst & Young LLP as the Company's independent auditors. Ernst & Young will replace Deloitte & Touche LLP as the independent auditors for the Company upon the completion by Deloitte & Touche of its review report on the financial statements of BGC Partners for the quarter ended June 30, 2008.
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