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Stock Market & Financial Investment News

News Breaks
February 25, 2013
08:07 EDTBGCGeneral Cable confirms FY13 operating income guidance $300M-$340M
For the full year of 2013 assuming copper prices remain at relatively stable levels, the Company confirms its guidance for operating income in the range of $300 to $340 million on 1.4 to 1.5 billion metal pounds sold. However, the first quarter of 2013 is anticipated to be the weakest of the year as specific factors in Europe and Mediterranean and ROW are expected to impact results. Specifically, installation and construction related activities in the Company’s Europe and Mediterranean submarine turnkey project business are anticipated to be seasonally slow during the first quarter of the year and improving as weather permits in the spring and summer months. In ROW, the timing of a change in local statutory leave requirements in Venezuela, which resulted in an extended vacation period in the beginning of the year, is expected to burden first quarter results with minimal impact going forward. The Company expects sequentially better results in nearly all North American businesses and strong earnings contributions from acquisitions in the first quarter of 2013. Overall, the Company anticipates a sharp improvement in second quarter results as the construction season accelerates and these transitory items subside.
News For BGC From The Last 14 Days
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March 18, 2015
10:00 EDTBGCOn The Fly: Analyst Downgrade Summary
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07:04 EDTBGCGeneral Cable downgraded at BB&T
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06:55 EDTBGCGeneral Cable downgraded to Hold from Buy at BB&T
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March 17, 2015
15:33 EDTBGCGeneral Cable March calls active after report of rival considering takeover bid
General Cable March 14 and 15 calls are active on total call volume of 8K contracts (1K puts) after Bloomberg said Prysmian is considering an acquisition. March call option implied volatility is at 124, April is at 95, May is at 69; compared to its 26-week average of 48 according to Track Data. Active volume suggests traders taking positions for upside price movement.
15:23 EDTBGCGeneral Cable jumps after report of rival weighing takeover bid
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15:18 EDTBGCPrysmian spokesman says no ongoing talks with General Cable, Reuters reports
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14:51 EDTBGCGeneral Cable jumps 11%, halted for volatility after report of takeover interest
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14:50 EDTBGCGeneral Cable acquisition being weighed by Prysmian, Bloomberg says

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