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Earnings
BGC Partners sees Q2 revenue $5525M-$575M, consensus $566.85M » 08:08
05/05/20
05/05
08:08
05/05/20
08:08
BGCP

BGC Partners

$3.07 /

+0.14 (+4.78%)

Sees Q2 pre-tax adjusted…

Sees Q2 pre-tax adjusted earnings $89M-$109M. BGC's revenues, excluding its insurance brokerage business, increased by approximately 2% YoY for the first 21 trading days of the second quarter. This reflects mixed global industry volumes thus far in the quarter as well as continued dislocation for BGC's brokers and their clients due to COVID-19. The Company's guidance assumes that industry volumes and its non-insurance brokerage revenues are flat to down slightly year-on-year for May and June. In addition, BGC expects its insurance brokerage revenues to be relatively flat YoY in the quarter, but to generate accelerating growth through the balance of the year. The Company's outlook includes the impact of its recent insurance brokerage hires who are incurring costs and are not yet generating meaningful revenue. But for this investment, the mid-point of the range for BGC's pre-tax Adjusted Earnings outlook would have been up year-over-year. Due to the unpredictable nature of the continuing macroeconomic environment, the Company has a wider outlook range than normal. BGC expects to update its guidance toward the end of June

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BGCP BGC Partners
$3.07 /

+0.14 (+4.78%)

03/27/20 Raymond James
Raymond James downgrades BGC Partners to Market Perform after dividend cut
03/27/20 Raymond James
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James
Earnings
BGC Partners reports Q1 adjusted EPS 19c, consensus 18c » 08:06
05/05/20
05/05
08:06
05/05/20
08:06
BGCP

BGC Partners

$3.07 /

+0.14 (+4.78%)

Reports Q1 revenue…

Reports Q1 revenue $603.2M, consensus $592.75M.

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BGCP BGC Partners
$3.07 /

+0.14 (+4.78%)

03/27/20 Raymond James
Raymond James downgrades BGC Partners to Market Perform after dividend cut
03/27/20 Raymond James
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James
Over a month ago
Hot Stocks
Point72 reports 5.0% passive stake in BGC Partners » 19:04
04/16/20
04/16
19:04
04/16/20
19:04
BGCP

BGC Partners

$2.49 /

-0.2 (-7.45%)

Point72 Asset Management…

Point72 Asset Management disclosed a 5.0% stake in BGC Partners, which represents over 15.52M shares. The filing does not allow for activism.

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BGCP BGC Partners
$2.49 /

-0.2 (-7.45%)

03/27/20 Raymond James
Raymond James downgrades BGC Partners to Market Perform after dividend cut
03/27/20 Raymond James
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James
On The Fly
Fly Intel: Wall Street's top stories for Friday » 16:25
03/27/20
03/27
16:25
03/27/20
16:25
GM

General Motors

$21.37 /

-1.17 (-5.19%)

, F

Ford

$5.19 /

-0.07 (-1.33%)

, AAPL

Apple

$247.74 /

-10.74 (-4.16%)

, CCL

Carnival

$14.41 /

-3.38 (-19.00%)

, RCL

Royal Caribbean

$34.49 /

-6.14 (-15.11%)

, NCLH

Norwegian Cruise Line

$12.02 /

-3.68 (-23.44%)

, CL

Colgate-Palmolive

$65.21 /

+1.45 (+2.27%)

, GME

GameStop

$4.21 /

-0.19 (-4.32%)

, AAL

American Airlines

$14.04 /

-1.63 (-10.40%)

, UAL

United Airlines

$32.80 /

-2.75 (-7.74%)

, BGCP

BGC Partners

$2.42 /

-0.835 (-25.65%)

From a peak of 3,393 in…

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GM General Motors
$21.37 /

-1.17 (-5.19%)

03/24/20 Morgan Stanley
Morgan Stanley upgrades Auto industry rating to In-Line from Cautious
03/24/20 Citi
General Motors price target lowered to $53 from $68 at Citi
03/24/20 UBS
Tesla and BMW upgraded, Ford downgraded at UBS
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
F Ford
$5.19 /

-0.07 (-1.33%)

03/24/20
Fly Intel: Top five analyst downgrades
03/24/20 UBS
Ford downgraded to Neutral from Buy at UBS
AAPL Apple
$247.74 /

-10.74 (-4.16%)

03/27/20 Cleveland Research
Apple iPhone demand destruction 'intensifying,' says Cleveland Research
03/26/20 Wedbush
5G super cycle delayed, long-term bullish view of Apple remains, says Wedbush
03/26/20 Bernstein
Apple facing second recession of iPhone era, says Bernstein
03/26/20 BofA
Apple price target lowered to $300 from $320 at BofA
CCL Carnival
$14.41 /

-3.38 (-19.00%)

03/26/20 Morgan Stanley
Cruise lines not mentioned in 'CARES' Act, says Morgan Stanley
03/23/20
Fly Intel: Top five analyst downgrades
03/23/20 Wells Fargo
Carnival downgraded to Underweight from Overweight at Wells Fargo
03/16/20 Nomura Instinet
Cruise companies have enough liquidity to survive, says Nomura Instinet
RCL Royal Caribbean
$34.49 /

-6.14 (-15.11%)

03/27/20 William Blair
William Blair lowering estimates to Royal Caribbean on continued suspension
03/18/20 Stifel
Royal Caribbean price target lowered to $40 from $161 at Stifel
03/17/20 BofA
Royal Caribbean downgraded to Underperform from Neutral at BofA
NCLH Norwegian Cruise Line
$12.02 /

-3.68 (-23.44%)

03/17/20 BofA
Norwegian Cruise Line downgraded to Neutral from Buy at BofA
03/16/20 Morgan Stanley
Morgan Stanley says Norwegian has liquidity needed to halt for up to five months
CL Colgate-Palmolive
$65.21 /

+1.45 (+2.27%)

03/27/20
Fly Intel: Top five analyst upgrades
03/27/20 SunTrust
Colgate-Palmolive upgraded to Buy from Hold at SunTrust
03/27/20 SunTrust
Colgate-Palmolive upgraded to Buy from Hold at SunTrust
03/26/20 Stifel
Colgate-Palmolive upgraded to Buy from Hold at Stifel
GME GameStop
$4.21 /

-0.19 (-4.32%)

03/27/20 Baird
GameStop trneds to remain weak despite recent increase, says Baird
03/20/20
Fly Intel: Top five analyst downgrades
03/20/20 Benchmark
GameStop does not qualify as an essential retailer, says Benchmark
03/20/20 Wedbush
GameStop downgraded to Neutral from Outperform at Wedbush
AAL American Airlines
$14.04 /

-1.63 (-10.40%)

03/27/20 Wolfe Research
American Airlines downgraded to Underperform from Peer Perform at Wolfe Research
03/25/20 Deutsche Bank
Deutsche Bank upgrades eight Airlines to Buy on stimulus agreement
03/25/20 Deutsche Bank
American Airlines upgraded to Buy from Hold at Deutsche Bank
03/25/20 Cowen
Mesa Air downgraded to Market Perform at Cowen
UAL United Airlines
$32.80 /

-2.75 (-7.74%)

03/25/20 Deutsche Bank
United Airlines upgraded to Buy from Hold at Deutsche Bank
03/23/20 BofA
United Airlines cut to Neutral, Southwest raised to Buy at BofA
03/23/20 BofA
United Airlines downgraded to Neutral from Buy at BofA
BGCP BGC Partners
$2.42 /

-0.835 (-25.65%)

03/27/20 Raymond James
Raymond James downgrades BGC Partners to Market Perform after dividend cut
03/27/20 Raymond James
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James
On The Fly
Fly Intel: Wall Street's top stories at midday » 12:28
03/27/20
03/27
12:28
03/27/20
12:28
GM

General Motors

$21.28 /

-1.26 (-5.59%)

, F

Ford

$5.10 /

-0.165 (-3.14%)

, CCL

Carnival

$14.72 /

-3.075 (-17.28%)

, RCL

Royal Caribbean

$33.86 /

-6.77 (-16.66%)

, NCLH

Norwegian Cruise Line

$12.22 /

-3.48 (-22.17%)

, CL

Colgate-Palmolive

$65.32 /

+1.56 (+2.45%)

, GME

GameStop

$4.42 /

+0.02 (+0.45%)

, HBI

Hanesbrands

$7.82 /

-1.12 (-12.53%)

, BGCP

BGC Partners

$2.35 /

-0.91 (-27.96%)

Stocks are pulling back…

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GM General Motors
$21.28 /

-1.26 (-5.59%)

03/24/20 Morgan Stanley
Morgan Stanley upgrades Auto industry rating to In-Line from Cautious
03/24/20 Citi
General Motors price target lowered to $53 from $68 at Citi
03/24/20 UBS
Tesla and BMW upgraded, Ford downgraded at UBS
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
F Ford
$5.10 /

-0.165 (-3.14%)

03/24/20
Fly Intel: Top five analyst downgrades
03/24/20 UBS
Ford downgraded to Neutral from Buy at UBS
CCL Carnival
$14.72 /

-3.075 (-17.28%)

03/26/20 Morgan Stanley
Cruise lines not mentioned in 'CARES' Act, says Morgan Stanley
03/23/20
Fly Intel: Top five analyst downgrades
03/23/20 Wells Fargo
Carnival downgraded to Underweight from Overweight at Wells Fargo
03/16/20 Nomura Instinet
Cruise companies have enough liquidity to survive, says Nomura Instinet
RCL Royal Caribbean
$33.86 /

-6.77 (-16.66%)

03/27/20 William Blair
William Blair lowering estimates to Royal Caribbean on continued suspension
03/18/20 Stifel
Royal Caribbean price target lowered to $40 from $161 at Stifel
03/17/20 BofA
Royal Caribbean downgraded to Underperform from Neutral at BofA
NCLH Norwegian Cruise Line
$12.22 /

-3.48 (-22.17%)

03/17/20 BofA
Norwegian Cruise Line downgraded to Neutral from Buy at BofA
03/16/20 Morgan Stanley
Morgan Stanley says Norwegian has liquidity needed to halt for up to five months
CL Colgate-Palmolive
$65.32 /

+1.56 (+2.45%)

03/27/20
Fly Intel: Top five analyst upgrades
03/27/20 SunTrust
Colgate-Palmolive upgraded to Buy from Hold at SunTrust
03/27/20 SunTrust
Colgate-Palmolive upgraded to Buy from Hold at SunTrust
03/26/20 Stifel
Colgate-Palmolive upgraded to Buy from Hold at Stifel
GME GameStop
$4.42 /

+0.02 (+0.45%)

03/27/20 Baird
GameStop trneds to remain weak despite recent increase, says Baird
03/20/20
Fly Intel: Top five analyst downgrades
03/20/20 Benchmark
GameStop does not qualify as an essential retailer, says Benchmark
03/20/20 Wedbush
GameStop downgraded to Neutral from Outperform at Wedbush
HBI Hanesbrands
$7.82 /

-1.12 (-12.53%)

02/05/20 Stifel
Hanesbrands sentiment too cautious ahead of Q4 report, says Stifel
01/02/20
Fly Intel: Top five analyst downgrades
01/02/20 Wells Fargo
Hanesbrands downgraded to Underweight from Equal Weight at Wells Fargo
01/02/20 Wells Fargo
Hanesbrands downgraded to Underweight from Equal Weight at Wells Fargo
BGCP BGC Partners
$2.35 /

-0.91 (-27.96%)

03/27/20 Raymond James
Raymond James downgrades BGC Partners to Market Perform after dividend cut
03/27/20 Raymond James
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James
Downgrade
Raymond James downgrades BGC Partners to Market Perform after dividend cut » 07:55
03/27/20
03/27
07:55
03/27/20
07:55
BGCP

BGC Partners

$3.26 /

+0.03 (+0.93%)

As previously reported,…

As previously reported, Raymond James analyst Patrick O'Shaughnessy downgraded BGC Partners two notches, to Market Perform from Strong Buy, stating that he was "surprised by and concerned with" the decision to slash the firm's quarterly dividend to 1c per share. While the firm's positive Q1 revenue and pre-tax income update suggests a favorable operating environment, the dividend cut, combined with drawing down the firm's revolver, makes him question whether there are risks to BGC's business model that he had not previously considered, O'Shaughnessy tells investors.

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BGCP BGC Partners
$3.26 /

+0.03 (+0.93%)

03/27/20 Raymond James
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James
Downgrade
BGC Partners downgraded to Market Perform from Strong Buy at Raymond James » 04:43
03/27/20
03/27
04:43
03/27/20
04:43
BGCP

BGC Partners

$3.26 /

+0.03 (+0.93%)

Raymond James analyst…

Raymond James analyst Patrick O'Shaughnessy downgraded BGC Partners to Market Perform from Strong Buy.

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BGCP BGC Partners
$3.26 /

+0.03 (+0.93%)

On The Fly
Fly Intel: After-Hours Movers » 19:00
03/26/20
03/26
19:00
03/26/20
19:00
BGCP

BGC Partners

$3.26 /

+0.03 (+0.93%)

, TXMD

TherapeuticsMD

$1.26 /

-0.025 (-1.95%)

, VMW

VMware

$124.70 /

+8.54 (+7.35%)

, GPS

Gap

$8.43 /

-0.55 (-6.12%)

, LULU

Lululemon

$200.80 /

+7.18 (+3.71%)

, PRGS

Progress Software

$34.69 /

+1.67 (+5.06%)

, HTZ

Hertz

$7.24 /

-0.465 (-6.04%)

, KBH

KB Home

$18.95 /

-0.48 (-2.47%)

, GME

GameStop

$4.40 /

+0.19 (+4.51%)

, SPWH

Sportsman's Warehouse

$5.63 /

+0.03 (+0.54%)

, NBSE

NeuBase Therapeutics

$5.85 /

+0.15 (+2.63%)

, OSS

One Stop Systems

$1.53 /

+0.22 (+16.79%)

Check out this…

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BGCP BGC Partners
$3.26 /

+0.03 (+0.93%)

TXMD TherapeuticsMD
$1.26 /

-0.025 (-1.95%)

02/21/20 H.C. Wainwright
TherapeuticsMD price target lowered to $6 from $7 at H.C. Wainwright
12/12/19 Stifel
Stifel says TherapeuticsMD's Annovera 'insulated' against generic NuvaRing
12/02/19 Guggenheim
TherapeuticsMD initiated with a Buy at Guggenheim
10/25/19 Stifel
TherapeuticsMD price target cut to $17 from $20 at Stifel
VMW VMware
$124.70 /

+8.54 (+7.35%)

03/24/20 Oppenheimer
VMware price target lowered to $165 from $200 at Oppenheimer
03/02/20 Jefferies
VMware price target lowered to $175 from $190 at Jefferies
02/28/20 RBC Capital
VMware price target lowered to $183 from $200 at RBC Capital
02/28/20 Deutsche Bank
VMware price target lowered to $165 from $190 at Deutsche Bank
GPS Gap
$8.43 /

-0.55 (-6.12%)

03/19/20 Morgan Stanley
Morgan Stanley lowers targets for Gap, Macy's, and four other levered retailers
03/13/20 BMO Capital
Gap price target lowered to $15 from $18 at BMO Capital
03/13/20 MKM Partners
Gap price target lowered to $11 from $19 at MKM Partners
03/12/20 Wedbush
Gap price target lowered to $12 from $20 at Wedbush
LULU Lululemon
$200.80 /

+7.18 (+3.71%)

03/23/20 RBC Capital
Lululemon price target lowered to $195 from $265 at RBC Capital
03/23/20 Needham
Lululemon upgraded to Buy from Hold at Needham
03/23/20 Needham
Lululemon upgraded to Buy from Hold at Needham
03/20/20 Citi
Lululemon upgraded to Buy from Neutral at Citi
PRGS Progress Software
$34.69 /

+1.67 (+5.06%)

01/17/20 Benchmark
Progress Software price target raised to $57 from $49 at Benchmark
10/22/19 Sidoti
Progress Software initiated with a Buy at Sidoti
09/27/19 Benchmark
Progress Software weakness overdone in after-hours trading, says Benchmark
07/26/19 Wedbush
Progress Software upgraded to Outperform from Neutral at Wedbush
HTZ Hertz
$7.24 /

-0.465 (-6.04%)

03/25/20
Fly Intel: Top five analyst downgrades
03/25/20 Barclays
Hertz downgraded to Equal Weight from Overweight at Barclays
03/24/20 Morgan Stanley
Morgan Stanley upgrades Auto industry rating to In-Line from Cautious
03/05/20 Morgan Stanley
Hertz, Avis risk from COVID-19 may be underappreciated, says Morgan Stanley
KBH KB Home
$18.95 /

-0.48 (-2.47%)

03/25/20 KeyBanc
KeyBanc upgrades KB Home to Overweight on valuation, policy response
03/24/20 KeyBanc
KB Home upgraded to Overweight from Sector Weight at KeyBanc
03/12/20 BofA
Foundation Building, Toll Brothers cut to Underperform, KB Home upgraded at BofA
03/12/20 BofA
KB Home upgraded to Buy from Neutral at BofA
GME GameStop
$4.40 /

+0.19 (+4.51%)

03/20/20
Fly Intel: Top five analyst downgrades
03/20/20 Benchmark
GameStop does not qualify as an essential retailer, says Benchmark
03/20/20 Wedbush
GameStop downgraded to Neutral from Outperform at Wedbush
03/20/20 Wedbush
GameStop downgraded to Neutral from Outperform at Wedbush
SPWH Sportsman's Warehouse
$5.63 /

+0.03 (+0.54%)

01/14/20 Piper Sandler
Sportsman's Warehouse recent selloff a buying opportunity, says Piper Sandler
01/10/20 Craig-Hallum
Buy Sportsman's Warehouse on the pullback, says Craig-Hallum
01/06/20 Lake Street
Sportsman's Warehouse initiated with a Buy at Lake Street
12/12/19 Craig-Hallum
Sportsman's Warehouse initiated with a Buy at Craig-Hallum
NBSE NeuBase Therapeutics
$5.85 /

+0.15 (+2.63%)

03/06/20 Chardan
NeuBase Therapeutics initiated with a Buy at Chardan
02/07/20 Guggenheim
Guggenheim starts NeuBase Therapeutics at Buy with $13 price target
02/06/20 Guggenheim
NeuBase Therapeutics initiated with a Buy at Guggenheim
11/20/19 Oppenheimer
NeuBase Therapeutics initiated with an Outperform at Oppenheimer
OSS One Stop Systems
$1.53 /

+0.22 (+16.79%)

08/06/19
Fly Intel: Top five analyst initiations
08/06/19 Benchmark
One Stop Systems transitioned with a Speculative Buy at Benchmark
04/04/19 Noble Capital
One Stop Systems initiated with an Outperform at Noble Capital
Hot Stocks
BGC Partners lowers quarterly dividend to 1c per share » 16:17
03/26/20
03/26
16:17
03/26/20
16:17
BGCP

BGC Partners

$3.26 /

+0.03 (+0.93%)

BGC expects to reduce its…

BGC expects to reduce its quarterly dividend to 1c per common share. The Board of Directors intends to review the Company's quarterly cash dividend policy as developments warrant at a future time. Additionally, BGC Holdings, L.P. also expects to reduce its distributions of income from the operations of BGC's businesses to its partners. BGC Partners has drawn down an aggregate of $230M from its revolving credit facility since December 31, 2019, for a total of $300M outstanding. The company increased this borrowing in order to preserve financial flexibility given current uncertainty in the global markets resulting from the COVID-19 pandemic. BGC notes that it has no meaningful debt maturities due until 2021. The proceeds from the revolving credit facility may be used for general corporate purposes.

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Earnings
BGC Partners sees Q1 performance better than previous outlook » 16:14
03/26/20
03/26
16:14
03/26/20
16:14
BGCP

BGC Partners

$3.26 /

+0.03 (+0.93%)

BGC Partners provided an…

BGC Partners provided an update on its operations and other relevant financial information. BGC believes that it is likely to perform better than it had expected when it provided its previous outlook. March has been highly volatile, with significant volumes across numerous global instruments. The company's initial outlook was for Q1 revenue of $540M-$580M, consensus $561.15M. Q1 outlook for pre-tax adjusted earnings was $90M-106M.

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