Volume Spike Investor

CIT Group Inc. (NYSE: CIT) has seen its shares halted for news pending, and then they reopened higher after it has amended its pending tender offer for its $1 billion of Floating Rate Senior Notes due August 17, 2009.  Notes under the new amended tender will receive the amended purchase price of $875 in cash per $1,000 principal amount of notes rather than the prior $825 per $1,000 principal amount of notes.  CIT stock is now up 15% at $1.00 and its 52 million share average daily volume has just been hit on strong block volume.  Roughly half of that volume has come since shares were re-opened for trading. -Jon C. Ogg