10 Stocks That Stole the Show Today

3. BGC Group, Inc. (NASDAQ:BGC)

BGC Group grew its share prices by 8.9 percent on Monday to end at $10.03 apiece following news that it agreed to repurchase more than 16.4 million common shares beneficially owned by US Secretary of Commerce and former chairman and CEO, Howard Lutnick.

In a statement, BGC Group, Inc. (NASDAQ:BGC) said it agreed to buy back the shares at a price of $9.2082 apiece for a total of $151 million, in furtherance of Lutnick’s US government ethics agreement.

“Repurchasing more than 16.4 million of our shares demonstrates our commitment to shareholder capital return,” said BGC Group, Inc. (NASDAQ:BGC) CFO Jason Hauf “Given our record first quarter results and anticipated strong cash flow generation this year, we believe buying back our shares in this highly efficient manner is a great use of our capital that delivers strong value creation to our shareholders.”

The transaction divested Lutnick’s ownership, voting, and economic interests in the company.