CIT Group Inc. (NYSE:CIT) – Today’s First Hour Top Percentage Mover
CIT Group Inc. (NYSE:CIT) – CIT Group Inc. Talks Fall Apart, Bankruptcy Looms-Reuters
New York, NY - WePickPennyStocks.com is pleased to alert investors of stocks on the move.
CIT Group Inc (CIT.N) was in discussions on Thursday with potential lenders to secure financing, after the collapse of rescue talks with the government left the company on the brink of bankruptcy.CIT stocks and bonds plunged as the 101-year-old lender to hundreds of thousands of small- and medium-sized businesses faced a worsening liquidity crunch that some warned could worsen the effects of the economic downturn for some firms.
After touching an intraday high of $0.63 in an opening trade, the Stock is currently trading at $0.55 moved up about 34% on over 68 million shares. In the last 52-week, the stock has been trading within a range of $0.331-$0.31.
About CIT Group Inc. (CIT) CIT Group Inc. (CIT) is a bank holding company, which provides commercial financing and leasing products, and management advisory services to clients in a variety of industries. CIT bank is its primary bank subsidiary. It serves clients in a variety of industries, including transportation, aerospace and rail, manufacturing, wholesaling, retailing, healthcare, communications, media and entertainment, and various service-related industries. The Company’s products include asset-based loans, secured lines of credit, leases (operating, finance and leveraged), vendor finance programs, import and export financing, debtor-in-possession/turnaround financing, acquisition and expansion financing, letters of credit/trade acceptances structuring and small business loans. The Company operates through five business segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance and Consumer.
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