CIT Group

Source: www.marketwire.com --- 22 days ago
NEW YORK, NY (MARKET WIRE) Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has filed a class action suit in the United States District Court for the Southern District of New York against CIT Group Inc. ("CIT" or the "Company") (NYSE: CIT) and certain of its executives and directors that alleges violations of the Securities Act of 1933 on behalf of a class (the "Class") consisting of all persons or entities who purchased CIT-Z preferred stock ("CIT-Z") (NYSE: CITPRZ) pursuant and/or traceable to the Company's registration statement and prospectus filed pursuant to Rule 424(b)(3) with the United States Securities and ...

Source: www.marketwire.com --- 23 days ago
NEW YORK, NY--(Marketwire - August 15, 2008) - Kaplan Fox & Kilsheimer LLP ( www.kaplanfox.com ) has filed a class action suit in the United States District Court for the Southern District of New York against CIT Group Inc. ("CIT" or the "Company") ( NYSE : CIT ) and certain of its executives and directors that alleges violations of the Securities Act of 1933 on behalf of a class (the "Class") consisting of all persons or entities who purchased CIT-Z preferred stock ("CIT-Z") ( NYSE : CITPRZ ) pursuant and/or traceable to the Company's registration statement and prospectus filed pursuant to Rule 424(b)(3) with the United States Securities and Exchange Commission on October 17, 2007 (collectively, the "Prospectus") through March 5, 2008. ...

Source: www.prnewswire.com --- 16 days ago
...

Source: www.marketwire.com --- 32 days ago
BALTIMORE, MD (MARKET WIRE) Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of CIT Group Inc. ("CIT" or the "Company") (NYSE: CIT) between April 18, 2007 and March 5, 2008, inclusive (the "Class Period"). ...

Source: www.marketwire.com --- 11 days ago
NEW YORK, NY (MARKET WIRE) Attorney Advertising. The law firm of Milberg LLP is investigating possible illegal conduct as alleged in proposed class action lawsuits filed in the United States District Court for the Southern District of New York against CIT Group, Inc. ("CIT" or the "Company") (NYSE: CIT) and certain of CIT's officers and directors for violations of the Securities Exchange Act of 1934. The lawsuits are brought on behalf of all purchasers of common stock from April 18, 2007 through March 5, 2008 (the "Class Period"). ...

Source: seekingalpha.com --- 21 days ago
Frederic Ruffy submits: The options expiration failed to trigger much volatility in the equity market last week. The S&P 500 Index (.SPX) finished at 1,298.20 and less than 2 points above a week ago. The lack of movement in the S&P 500 might explain why the CBOE Volatility Index (.VIX) finished Friday at 19.58 and its first close below 20 since June 5. VIX tracks the expected volatility priced into S&P 500 Index options and tends to fall during periods of quiet trading. VIX also reflects investor sentiment, which seemed to lean on the bullish side.  Approximately 42.7 million call options and 36.1 million puts traded across the US options exchanges last week.  Among some of the more bullish trades: call spreads on Chesapeake Energy (CHK), a substantial ratio spread on CIT Group (CIT), bullish spreads on Commercial Metals (CMC), butterflies on the SPDR Gold Trust (GLD), and call buying in Campbell Soup (CPB). Complete Story » ...

Source: www.fibre2fashion.com --- 37 days ago
...

Source: www.socialpicks.com --- 21 days ago
Shares of CIT Group Inc. have been in a tailspin for a year, but options traders on Friday appeared to be betting on a mild rebound in the New York-based commercial finance company. Trading in CIT clocked in at nine times the normal level, with investors picking up 65,000 calls that allow them to buy CIT stock and 4,000 puts that allow them to sell it, according to Track Data. What this means to you and me?  Buy CIT now and make a fortune. ...

Source: www.topix.com --- 35 days ago
S&P REITERATES HOLD RECOMMENDATION ON SHARES OF AMGEN : AMGN sees positive outcome to Phase III denosumab trial, with significant vertebral fracture reduction in 7,800 women with osteoporosis. ...

Source: www.theoptionsinsiders.com.com --- 22 days ago
The top ten most active equity options and strikes for 8/15/2008. Includes CIT Group (CIT), Johnson and Johnson (JNJ), AMR Corp (AMR), E Trade Finance (ETFC), TFS Financial Corp (TFSL), EMC Corp (EMC), Goldcorp Inc (GG) and Raser Technologies (RZ). ...

Source: online.wsj.com --- 67 days ago
CIT Group agreed to sell its home-lending unit and manufactured-housing portfolio for $1.8 billion in two separate transactions. The company's shares surged on the news, rising 30% to $8.83 ...

Source: www.businessweek.com --- 67 days ago
An update to my post on CIT Group below : Thanks to the Bespoke Investment Group blog , I learn that Edward Lampert -- who some have hoped would be his generation's Warren Buffett -- is a big holder of CIT Group's stock ( CIT ) through his firm ESL Investments . However, Lampert seems to have paid $9.48 for his CIT shares. That means he's still losing money on CIT, which jumped almost 30% and closed at 8.83 on Tuesday, unless he's picked up more stock in the meantime. A broader point: Take a look at the bets that Lampert made on a housing recovery. Nearly every one of his investments -- which include Home Depot ( HD ), Citigroup ( C ), SLM Corp. ( SLM ) and KB Home ( KBH ) -- is below Lampert's buying price. CIT Group shares spiked Tuesday on hopes the firm can extricate itself from the housing mess. But the other stocks in Lampert's portfolio don't have that option. A BusinessWeek magazine cover story this week is called "The Home Price Abyss: Why the Threat of a Free Fall is Growing." Still, there are optimists out there. By not following the herd, Lampert and others are playing with fire. But the slow-motion nature of the housing crisis means it could be a while before they are proven right or wrong. ...

Source: ftalphaville.ft.com --- 27 days ago
GATX Corp , the US lease-financing company, is offering more than $3bn for General Electric’s rail car leasing business, reports Reuters. GATX is the leading bidder for the unit and negotiations are ongoing, said a source familiar with the discussions. CIT Group, a commercial lender hit hard by the credit crunch,... ...

Source: www.businesswire.com --- 26 days ago
NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, today announced that it served as lead ...

Source: www.post-gazette.com --- 68 days ago
NEW YORK -- Commercial finance firm CIT Group says it will sell its home lending business to Lone Star Funds for $1.5 billion in cash plus $4.4 billion of assumed debt. ... ...

Source: seekingalpha.com --- 22 days ago
Rebecca Engmann Darst contributed to this report. CIT Group (CIT)  – A sizable 1-by-2 call spread, possibly put on by a well-capitalized individual or an institution, caught our attentions today as it would seem to imply a slow-but-sure road to recovery for CIT Group, the provider of commercial and real estate financing. Shares in CIT Group are down 60.9% for the year to date, but have recovered 51% of their value from July 15 lows – outpacing the gains seen in other S&P financials, a Group that CIT Group has otherwise lagged mercilessly behind for much of this year . Shares have reversed early losses and now read 1.7% higher at $9.36. The long 1-by-2 call spread activity in the January ’09 contract involved a trader buying 1 $10 strike call for $2.10 and selling two 15-strike calls for 70 cents, resulting in a net debit of 70 cents per trade.  Essentially the trader is looking for continued upside past the $10.70 level in the first of the year, but is confident that the share price won’t breach $15 – half the position at this strike in a 1-by-2 call spread is uncovered short, leaving the trader vulnerable to exercise (and unlimited losses) in the event of a share price rally. The volume here appears to have involved about 19,000 lots at the lower strike and about 38,000 lots at the upper strike, making the size of the trade worthy of note in its own respect – the volume here represented 16 times the normal level of activity seen in CI ...

Source: clientportal.ibb.ubs.com --- 36 days ago
This document is related to the following: Regions Global Americas United States North America Sectors Global Banks Global Diversified Financial Global Savings & Loan Global Insurance, Property & Casualty Global Financial Global Insurance Global Financial Services Americas Banks Americas Diversified Financial Americas Savings & Loan US Banks US Diversified Financial US Savings & Loan US Insurance, Property & Casualty Americas Insurance, Property & Casualty Americas Financial Americas Insurance US Financial US Insurance Americas Financial Services US Financial Services North American Banks North American Financial North American Diversified Financial North American Financial Services North American Insurance, Property & Casualty North American Insurance North American Savings & Loan Companies AXP.N American Express FNM.N Fannie Mae FRE.N Freddie Mac MTG.N MGIC Investment COF.N Capital One SLM.N Sallie Mae WM.N Washington Mutual PMI.N PMI Group RDN.N Radian Group CIT.N CIT Group, Inc. DFS.N Discover Subjects Company Update Industry Overview Morning Note ...

Source: www.detnews.com --- 11 days ago
Blue Water Automotive Systems Inc., a bankrupt maker of plastic parts for U.S. automakers, won court approval to sell a plant and equipment for $6 million to CIT Group Inc. and Engineered Plastic Components Inc. ...

Source: www.eng.ox.ac.uk --- 2 days ago
(theEngineer) - Global commercial finance company, CIT Group has signed a firm contract with Airbus for a further 10 A320 Family aircraft. ...

Source: www.portfolio.com --- 13 days ago
On the streets of New York, it's not unusual for residents to discard their unwanted bookshelves and television stands on the sidewalk. Often within just a few hours, another crafty New Yorker will have scooped them up, slapped a fresh coat of paint on them, and sold them on eBay. On Wall Street, something very similar is happening. But instead of dining tables, it's bad loans that are no longer wanted. And one of the biggest junk shoppers for this type of item isn't anywhere near New York.   Dallas-based Lone Star Funds is hungry for distressed debt, and there's no better time than a credit crisis to satiate it. Last month, the private equity firm took $31 billion worth of mortgage loans off of Merrill Lynch 's hands for the low, low price of $6.2 billion, financed mostly by Merrill Lynch. It bought the mortgage businesses from CIT Group and Bear Stearns, and it paid $300 million for troubled Accredited Home Lenders. And last week, it made headlines again when it bought IKB, a German bank that was crippled by its exposure to U.S. subprime debt. For all the attention Lone Star is garnering these days, the firm and its founder maintain a remarkably low profile. John Grayken founded Lone Star in 1995 after cutting his teeth in the distressed investing world as a protégé of Robert Bass. Bass, for those who didn't experience the last credit crisis, was a Texas billionaire who reaped huge returns by sweeping in at the tail end of the ...