During Wednesday’s Current trade, Shares of BGC Partners, Inc. (NASDAQ:BGCP), lost -0.06% to $8.18.
BGC Partners, Inc. (BGCP) a leading global brokerage company servicing the financial and real estate markets, declared that it has updated its outlook for the quarter ending September 30, 2015. The results will comprise the consolidation of those for BGC’s majority-owned division, GFI Group Inc. (OTC: GFIG) (“GFI Group” or “GFI”), a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets.
Original Third Quarter 2015 Outlook Contrast with Third Quarter 2014 Results
- The Company predictable to produce its fourth successive record quarter of distributable earnings revenues and its fifth quarter in a row of record pre-tax distributable earnings.
- BGC anticipated distributable earnings revenues to enhance by between about 51 percent and 61 percent and to be between $680 million to $725 million, contrast with $449.8 million.
- The Company predictable pre-tax distributable earnings to enhance by between about 22 percent and 44 percent and to be in the range of $80 million to $95 million, as compared to $65.8 million.
- BGC anticipated its effective tax rate for distributable earnings to remain about 15 percent.1
The Company’s original outlook for distributable earnings revenues would have been about $22 million higher but for the strengthening of the U.S. dollar contrast with a year earlier.
BGC Partners, Inc. operates as a brokerage company in the United Kingdom, the United States, and internationally. It operates in two segments, Financial Services and Real Estate Services.
Shares of Gogo Inc (NASDAQ:GOGO), inclined 0.88% to $14.87, during its current trading session.
Gogo (GOGO), the global leader in providing broadband connectivity solutions and wireless entertainment to the aviation industry, declared that JTA is the latest airline to select 2Ku – Gogo’s next generation connectivity solution.
JTA, a member of the Japan Airlines group, has awarded its new 737-800 aircraft to Gogo for installation of Gogo’s 2Ku in-flight connectivity solution. In addition, passengers on these aircraft will receive Gogo’s wireless in-flight entertainment service – Gogo Vision.
Gogo is several weeks into flight testing of 2Ku and the tests accomplished to date have exceeded expectations. The flight tests have demonstrated that 2Ku can deliver more bandwidth at less cost than gimbaled satellite antennae used on aircraft recently.
While 2Ku system testing continues, Gogo is making rapid progress towards the commercial launch planned for later this year. Initial installations are complete at Aeromexico and in progress at Virgin Atlantic. Startning in early 2016, installations are predictable to ramp up on other airline partners, counting Air Canada, Delta, GOL and United. During 2016, Gogo anticipates concluding retrofit installations on fleet types that comprise the Airbus 320, 330 and 340 families and the Boeing 737, 747 and 757 families and, while Gogo continues to advance its line fit programs with the airline manufacturers for future new delivery aircraft.
Gogo Inc., through its auxiliaries, provides aero communications services to the commercial and business aviation markets in the United States and internationally. The company operates three segments: Commercial Aviation North America, Commercial Aviation Rest of World, and Business Aviation.
Total System Services, Inc. (NYSE:TSS), during its Wednesday’s current trading session gained 1.36% to $45.51.
TSYS (TSS) declared its relationship with Samsung Pay, which will offer TSYS clients — both issuing banks and acquirers — and their merchants a simple and safe way to offer and accept mobile payments using nearly any terminal where you can swipe or tap your card.
Combining Samsung’s pioneering Magnetic Secure Transmission (MST) technology with Near Field Communication (NFC), Samsung Pay is compatible with nearly all existing payment terminals where you can swipe or tap your card, allowing merchants to quickly and easily accept secure payments from customers using their Samsung phones.
Total System Services, Inc. provides electronic payment processing services to banks and other financial institutions in the United States, Europe, Canada, Mexico, and internationally.
Finally, DealerTrack Technologies Inc (NASDAQ:TRAK), gained 1.71%, to $63.17.
Cox Automotive, Inc. and Dealertrack Technologies, Inc. (TRAK) declared that the acquisition of Dealertrack by Cox Automotive following the Agreement and Plan of Merger dated as of June 12, 2015 is now predictable to close in October 2015.
Dealertrack Technologies, Inc. provides Web-based software solutions and services to the automotive retail industry in the United States and Canada. It offers digital marketing solutions, which provide Websites, digital advertising, and other digital marketing offerings to assist dealers in achieving higher lead conversion rates that assist to optimize various shoppers to their Websites; dealer administration solutions, which provide dealer administration system featuring tools and real-time data access; and F&I solutions that allow dealers to streamline the in-store and online sales, in addition to financing processes.
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