Deals
BGC Partners Jumps as Lutnick Sells ESpeed Unit
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BGC Partners Inc. jumped the most since its initial public offering after the interdealer broker part-owned by Cantor Fitzgerald LP said it would sell its eSpeed bond unit.
BGC climbed 49 percent to $5.72 at 4 p.m. in New York, the biggest gain since it went public in December 1999. The company said yesterday in a statement it will sell the electronic U.S. Treasury trading platform to Nasdaq OMX Group Inc. for $750 million in cash, or $1.2 billion if sales goals are met. Nasdaq OMX Group fell 13 percent to $27.91, its largest drop in more than four years.