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.

Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php

You May Also Be Interested In

• NVIDIA (NVDA) in talks to invest in data-center company Cloverleaf Infrastructure - WSJ
• Holcim said to acquire part of James Hardie's EU business
• Virtu Financial said to explore $3.5B sales of brokerage unit