CIT Group, Inc. (CIT) Won't Comment On Share Spike

Shares of CIT Group (NYSE: CIT) have spiked 17% mid-day today on surging volume on rumors the beaten-up small and middle-market lender could be getting some type of government funding.

A CIT spokesperson would not comment on today's unusual market activity.

Bloomberg noted that CIT's bonds rose as an Oct. 1 deadline for a restructuring that's acceptable to a group of lenders approaches.

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