Volume Spike Investor

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 [...]

CIT Group, Inc. (NYSE: CIT) is getting hammered again.  It has delayed its 10-Q filing amid restructuring, and the word is out that it may have to file for bankruptcy protection.  As of 8:48 AM EST we have seen 5.5 million shares trade and the stock is down 20% at $1.18.  Average volume is 65 [...]

CIT Group Inc. (NYSE: CIT) has already surpassed its average daily volume of the last three months.  The 19% surge to $1.20 is on 57 million shares as of 10:30 AM EST.  We have not seen any formal news, but the hopes and theories are that the higher debt swap ofer has the company still [...]

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 [...]

CIT Group Inc. shares (NYSE: CIT) are down 6 percent to 92 cents on early premarket volume of more than 393,000 shares. The troubled small business lender said Moody’s Investors Service has placed 2009 receivable backed notes issued just a month ago from the company under review for a possible downgrade. — Mike Tarsala

CIT Group, Inc. (NYSE: CIT) is an obvious volume spike, but this is likely to be the focal point of the morning.  It is not even 7:40 AM EST and the unofficial volume before many trading systems are open is over 2.1 million shares.  The troubled may have avoided the bankruptcy hangman for now as [...]

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 [...]

CIT Group (CIT) shares are likely to see a volume spike Thursday after newspaper reports suggest that a government bailout might not be cards, and talks reportedly broke down. That said, its failure to secure government funding is not expected to take down the market, as stocks in Europe are trading only modestly lower. The company on [...]

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. [...]

CIT Group Inc. (NYSE: CIT) are down about 17 percent to $1.53 on volume of 27,000 shares as of about 8:15 a.m. Eastern. Bloomberg.com is reporting that the FDIC is unwilling to guarantee CIT’s bond sales because the commercial lender’s credit quality is worsening, citing people familiar with the regulator’s thinking.  — Mike Tarsala