Why Shares of BGC Partners Rose Today

Shares of the financial technology and brokerage company BGC Partners (NASDAQ: BGCP) climbed more than 7% today after the company updated its guidance for the first quarter of the year.

BGC Partners reaffirmed previous guidance it had given earlier this year.

That means the company still expects to generate revenues in the first quarter between $540 million and $590 million, and pre-tax adjusted earnings of $102 million to $122 million. BGC expects its tax rate to be in the range of 10% to 12%.

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Source Fool.com