CIT Rises as Amends Debt Exchange Offer Terms (CIT)
CIT Group, Inc. (NYSE: CIT) is trading up this morning on news that could ultimately be bad for shareholders. CIT has amended its debt offering terms under a packaged bankruptcy reorganization. CIT is up 3.5% at $1.18 on over 400,000 shares of stock at 8:26 AM EST. As a reminder, CIT was under fire on [...]
Bove Nails Fifth Third and SunTrust (FITB, STI)
Fifth Third Bancorp (NASDAQ: FITB) and SunTrust Banks, Inc. (NYSE: STI) are both getting hit this morning on an analyst downgrade by Dick Bove. Rochdale Securities has downgraded the bank to Sell from an already cautious Neutral rating. At 8:20 AM EST we have seen STI shares down over 2.5% at $20.45 on about 10,000 [...]
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