Volume Spike Investor

These are this Monday morning’s top day trader and active trader alerts seen with price or volume moves.
Allied Irish Banks plc (NYSE: AIB) is seeing its ADRs trade lower yet again on concern of sovereign debt exposure in the PIIGS.  Shares are down 7.5% at $3.06 in early pre-market trading.
AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) is [...]

CIT Group Inc. (NYSE: CIT) is down sharply on the common stock after the company did go ahead and file a pre-packaged bankruptcy protection.  Shares traded are only 380,000 at 8:35 AM EST although it appears that there are no specialist shares trading hands.  We have the stock down 42% at $0.418 after closing at [...]

CIT Group Inc. (NYSE: CIT) Is getting “pantsed” this morning on the NYSE.  Goldman Sachs Group (NYSE: GS) has trimmed the size of its loan.  Rather than $3 billion, Goldman is loaning some $2.13 billion.  This is two days after CIT raised $4.5 billion and as it continues on its restructuring efforts.  CIT also put [...]

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 [...]

CIT Group, Inc. (NYSE:  CIT) is trading higher this morning on the news that the troubled lender has sweetened part of its debt exchange offer to convert more debt holders via an SEC filing, however there are still reports that more of the debt holders want to opt for bankruptcy so they have a far [...]

CIT Group Inc. (NYSE: CIT) has two negatives, although one may not be too bad considering how the company has done.  There are reports that it is closer to bankruptcy and now its Chairman/CEO announced his resignation.
UPDATE: 9:28 AM EST: CIT shares are “INDICATED $0.80 X $1.00 as specialist is not open and trades are [...]

E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) has no real news but did schedule its third quarter 2009 financial results release for after the close trading on Tuesday, October 27, 2009.  As the markets are higher, traders are bidding up the low-priced or junky financial firms again.  ETFC is up 1.8% at $1.75 on 350,000 shares as [...]

CIT (CIT) is up 18% to $1.25 on heavy volume based on news that its board has set up a deal with bondholders to keep the firm from Chapter 11.
Douglas A. McIntyre

CIT (CIT) is down over a third on news that bondholders may take over the company or it may declare Chapter 11.
The stock moved up 40% to $2.20 on a rumor that a hedge fund manager might salvage the company.
This morning it is down to $1.26.
Douglas A. McIntyre

CIT Group, Inc. (NYSE: CIT) has pulled an about-face on traders this morning.  Shares were indicated down about 4% after showing a $1.62 billion loss for the quarter and after increasing reserves to account for future losses. Its tender offer for $1 billion in floating-rate notes was successful, although the 59.8% of notes that were [...]