CIT Group Inc. (OTC: CITGQ) is emerging from bankruptcy. The company has just announced that its prepackaged plan of reorganization was confirmed by the United States Bankruptcy Court for the Southern District…
Douglas A. McIntyre Short sellers have bought into the notion that the financial industry is in full recovery. Shares sold short in Wells Fargo (NYSE:WFC) fell 8% to 78.8 million shares. Shares short in CIT…
Economists still expect layoffs in the US and Europe to slow as the recovery gains momentum. Pessimists among experts on GDP growth and job losses believe that the major risk of a…
Reuters: The value of the yuan could cause a trade war between the US and China. Reuters: Executive pensions rose despite drops in stock prices. Reuters: Lloyds will make a large stock…
It is of little surprise that CIT Group, Inc. (NYSE: CIT) is seeing clobbered today. The company has finally filed its pre-packaged Chapter 11 bankruptcy package and that has CIT shares down…
This is a strange morning for day trader alerts. There are not dozens and dozens of stocks in the big news, but those that are moving are moving big. We have links…
Reuters: Investors in the banking sector were disturbed by the CIT (NYSE:CIT) bankruptcy. Reuters: Summers will lead a high level meeting on the economy. Reuters: US companies are holding more cash. Reuters: …
According to The Wall Street Journal, CIT (NYSE:CIT) will file for Chapter 11 today. Bondholders will probably provide $4.5 billion in financing for a prepackaged bankruptcy. Senior creditors will likely get $.70 on…
Douglas A. McIntyre Earnings season is seeming to wind down here, but that won’t stop the unusual suspects of key equity events and issues to watch this coming week. We are looking into key issues…
CIT Group (NYSE: CIT) it has entered into an agreement with Carl Icahn to support its restructuring plan and secured an incremental $1 billion committed line of credit from Icahn Capital LP to…
Douglas A. McIntyre We are only featuring a few key day trader and active trader stocks early this morning. We have links through to more data and analysis with links on each stock over at…
Updated throughout the day. Updated 3.23 PM EST: Analyst Michael Mayo says Citigroup (NYSE:C) will take a $10 billion write down the quarter. Citi denies it (CNBC) Updated 10.24 AM EST: Cisco…
Reuters: The US economy is stable but risks remain according to Geithner. Reuters: JPMorgan (NYSE:JPM) raised concerns about Galleon in 2001. Reuters: As many as five million Americans have been infected with…
Reuters: House Democrats unveiled their healthcare bill. Reuters: Senators may extend home purchase credits until April. Reuters: China will launch a case against The Big Three auto companies. Reuters: Galleon paid Wall…
Short interest in a number of major financial firms rose for the period ending October 15. Shares short in Citigroup (NYSE:C) rose 51% to 178.1 million. The short interest in CIT (NYSE:CIT)…
