BGC Partners sees Q2 results around mid-point of prior guidance BGC Partners updated its outlook for Q2, stating that it expects its financial results for the quarter ending June 30 to be around the mid-point of the range of its previously stated guidance for revenues and earnings. The company expected to generate distributable earnings revenues $420M-$440M , consensus $433.73M. BGC anticipated pre-tax distributable earnings to be between approximately $47M-$55M.
BGC Partners could make hostile $675M bid for GFI Group, WSJ reports In a move to thwart the sale of GFI Group (GFIG) To CME Group (CME), BGC Partners (BGCP) is planning to make a hostile bid to GFI for $675M, the Wall Street Journal reports. BGC's $5.25 per share tender offer to GFI shareholders, which is 15% higher than CME's offer, could come as early as this morning. Reference Link