PREMARKET ALERT: CIT Group (CIT)

Posted in General 
July 14th, 2009

CIT Group Inc. (NYSE: CIT) shares are up about 25 percent to $1.69 on an early premarket volume spike. Newspapers including the Wall Street Journal report this morning that the U.S. is in advanced talks about providing some sort of aid to CIT Group, although the structure and amount of any aid is still unclear. One source of support might be relaxing debt standards so that CIT could participate in an FDIC program that guarantees newly issued debt. — Mike Tarsala

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