PREMARKET ALERT: CIT Group (CIT)

Posted in General 
July 17th, 2009

CIT Group Inc. (NYSE: CIT) shares are up nearly 40 percent to $0.53 on early premarket trading of 75,000 shares. The company said this morning that its board and management are continuing to evaluate alternatives to improve liquidity, and that the company is in discussions with potential lenders to secure financing. Meanwhile, the NY Post this morning reports that talk on the Street is that CIT may be in talks to sell a unit that lends to the apparel industry to JPMorgan Chase.CNBC reported yesterday that the company is seeking $2 billion to $3 billion from private investors. — Mike Tarsala

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