DALLAS, July 22, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring CIT Group Inc. (NYSE:CIT). The report includes financial, comparative and investment analyses, and recent company news that you need to know to make an educated investment decision.
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The full report is available at: http://www.microstockprofit.com/lp/CIT
CIT is trading within its Bollinger Bands. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the recent price action.
CIT Group Inc. (CIT) is a bank holding company providing commercial financing and leasing products, and management advisory services to clients in a variety of industries. CIT bank is its primary bank subsidiary. The Company provides financing and leasing capital to its clients and their customers in over 30 industries and 50 countries. 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. It has five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance and Consumer Finance. In November 2009, the Company filed for bankruptcy. In December 2009, CIT emerged from bankruptcy. In July 2010, the Company sold its Australian and New Zealand Vendor Finance business to Bank of Queensland Ltd.
Message Board Search for CIT: http://www.boardcentral.com/boards/CIT
In the report, the analyst notes:
"CIT reported net income for the quarter ended March 31, 2010, of $97 million, $0.49 per share.
Total assets declined nearly $2 billion from year-end to $58.1 billion driven by a reduction in finance and leasing assets as cash collections and asset sales were partially offset by a modest level of loan and lease originations.
Earlier this month, the Company said it made significant progress on its key corporate initiatives to increase its funding flexibility, streamline assets, and reduce financing costs. CIT reported that it has repaid nearly half of its first lien debt, closed approximately $2.5 billion in new funding facilities and sold approximately $2.8 billion in assets so far this year."
To read the entire report visit: http://www.microstockprofit.com/lp/CIT
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