BGCP Stock Price, News & Analysis

BGC Partners, Inc. (Nasdaq: BGCP) has announced the timing for its fourth quarter 2022 financial results conference call, scheduled for February 10, 2023, at 10:00 a.m. ET. An advisory press release will be issued by 8:00 a.m. ET the same day, providing access to consolidated quarterly financial results. Investors can participate via webcast or dial-in. BGC is a leading global brokerage and financial technology firm, specializing in various products and services across financial markets.

BGC Partners (Nasdaq: BGCP) has revised its outlook for Q4 2022, expecting revenues and pre-tax Adjusted Earnings above previous estimates. A stronger U.S. dollar impacted revenue, which would have been about $14 million higher without this effect. Despite these challenges, BGC's revenue is projected to align with last year's Q4, excluding insurance revenue. The company continues to face foreign exchange headwinds, with the euro and pound sterling tracking 11% and 13% lower against the U.S. dollar, respectively.

Cantor Fitzgerald announced the successful sale of 865 Bellevue Apartments in Nashville, delivering a 156% return on investors' original investment and an internal rate of return of 15% over a three-year hold period. The property features 326 units and various amenities, and its location provides convenient access to Nashville's employment centers. The sale was facilitated amidst economic challenges, reflecting a well-executed business strategy. As of December 2022, Cantor Fitzgerald's portfolio includes over 7,900 multifamily units and substantial commercial real estate holdings.

BGC Partners announced its 2022 virtual annual meeting of stockholders scheduled for December 30, 2022, at 1:00 p.m. ET. The meeting will be accessible via a live audio webcast, with details available on its investor website. Participants must use a 16-digit control number from their proxy materials to log in. The meeting will provide insights into BGC's financial results and future outlook. A recording will be available for one year post-event.

BGC Partners, Inc. (Nasdaq: BGCP) announced a Corporate Conversion Agreement to simplify its structure, transitioning from an Umbrella Partnership/C-Corporation to a Full C-Corporation. The company will change its name to BGC Group, Inc. and its ticker symbol to 'BGC'. Shareholders and employees will have ownership through Class A and B common stocks and incentive equity. The agreement is approved by the Board, and closing is contingent on regulatory approvals. This move aims to enhance operational transparency and efficiency.

BGC Partners' Fenics GO has been recognized as the OTC Trading Platform of the Year at the 2022 Asia Risk Awards by Risk.net. Since launching MSCI Asian Indices on Eurex in February 2022, Fenics GO has facilitated $40 billion in trades by the end of Q3. The platform has become a leader in the interdealer market for MSCI Hong Kong and Singapore, and has also seen record volumes in KOSPI and HSCEI Options on Futures trading. The growth is supported by nine active liquidity providers, highlighting Fenics GO's expanding market share in Asia.

BGC Partners announced its financial results for Q3 2022, ending September 30. The company, a leader in brokerage and financial technology, declared a quarterly dividend alongside its results. The press release offers insights into BGC's performance amidst market conditions, emphasizing its range of services including trade execution and brokerage across various sectors. The results conference call is scheduled for 10:00 AM ET today. For detailed financial metrics, visit BGC's investor relations page.

BGC Partners, Inc. (Nasdaq: BGCP) will hold its third quarter 2022 financial results conference call on November 2, 2022, at 10:00 a.m. ET. The company plans to release its consolidated financial results earlier that day at 8:00 a.m. ET. Investors can pre-register to access the call more easily. The conference call will also be available via a webcast, with a replay accessible within 24 hours for up to 365 days. For details, visit BGC's Investor Relations.

BGC Partners (Nasdaq: BGCP) has revised its Q3 2022 revenue outlook, indicating it will fall below previous estimates due to adverse FX impacts. The strengthening of the U.S. dollar is projected to account for a $20 million reduction in revenue compared to last year, despite expectations for pre-tax adjusted earnings to remain around the prior midpoint. Additionally, both the euro and pound have depreciated significantly against the dollar, exacerbating revenue challenges. The company continues to provide non-GAAP financial measures to assess its performance.