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BGC Partners updates Q4'16 outlook

BGC Partners Inc. updated its outlook for the fourth quarter and now expects revenues to be near the midpoint of its previously stated range. The company also expects that pretax distributable earnings will be near the high end of the range it stated in the previous guidance.

At the end of the third quarter, BGC Partners anticipated revenues to be in the range of $630 million to $675 million for the fourth quarter. Pretax distributable earnings before noncontrolling interest in subsidiaries and taxes was expected to be in the range of $107 million to $125 million.