New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 19, 2012
06:50 EDTBGCPBGC Partners upgraded to Market Perform from Underperform at Raymond James
Raymond James upgraded BGC Partners based on valuation. Price target is $6.50.
News For BGCP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 29, 2015
08:16 EDTBGCPBGC Partners says now owns more than two-thirds of GFI outstanding shares
On April 28, a subsidiary of BGC (BGCP) purchased from GFI (GFIG) approximately 43M newly issued shares of GFI’s common stock at that date’s closing price of $5.81 per share, for an aggregate purchase price of $250M. The purchase price was paid to GFI in the form of a note due on June 19, 2018 that bears an interest rate of LIBOR plus 200 basis points. Due to intercompany eliminations, the new shares and the note will have no impact on the consolidated balance sheet of BGC. Following the issuance of the New Shares, BGC owns approximately 67% of GFI’s outstanding common stock. The company said: “A successful sale of Trayport, combined with increased profits from integrating GFI, growing our fully electronic businesses, and the strength of our Real Estate Services business, will lead to dramatically higher liquidity. We also anticipate receiving over $635M in additional NASDAQ OMX (NDAQ) stock over time. As we execute our strategy, we expect to have significant capital with which to pay dividends, repurchase shares and/or units of BGC, profitably hire, and make accretive acquisitions, all while maintaining our investment grade rating.”
08:13 EDTBGCPBGC Partners increases dividend by 16.7% to 14c per share
Subscribe for More Information
08:11 EDTBGCPBGC Partners reports Q1 post-tax distributable EPS 18c, consensus 18c
Reports Q1 revenue for distributable earnings $563.9M, consensus $534.52M. BGC Partners (BGCP) said that, unless otherwise stated, the financial results and other metrics for the company’s majority-owned division, GFI Group (GFIG), are consolidated with those of BGC from March 2.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use