DALLAS, June 29, 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
The MACD for CIT currently indicates a strong bearish signal for two reasons. First, the MACD is below the signal line, a 9-day moving average. Second, the MACD is below the critical level of zero, which implies that the underlying moving averages are trending lower.
CIT Group Inc. (CIT) is a bank holding company, which provides commercial financing and leasing products, and management advisory services to clients in a variety of industries. CIT operates primarily in North America, with locations in Europe, Latin America, Australia and the Asia-Pacific region. 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. The Company operates through 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.
Message Board Search for CIT: http://www.boardcentral.com/boards/CIT
In the report, the analyst notes:
"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.
"Business lender CIT said Friday it prepaid $1.25 billion in debt. Of the total amount, $950 million is a mandatory prepayment under its credit agreement and $300 million is a voluntary prepayment to small business, which will be made available from holding company cash."
To read the entire report visit: http://www.microstockprofit.com/lp/CIT
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