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	<title>Stock Blog Hub &#187; CIT Group</title>
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		<title>(DD) Company News for October 26, 2010 &#8211; Corporate Summary</title>
		<link>http://www.stockbloghub.com/2010/10/26/dd-company-news-for-october-26-2010-corporate-summary/56646</link>
		<comments>http://www.stockbloghub.com/2010/10/26/dd-company-news-for-october-26-2010-corporate-summary/56646#comments</comments>
		<pubDate>Tue, 26 Oct 2010 15:55:50 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Chemicals - Major Diversified]]></category>
		<category><![CDATA[Arcelor Mittal]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[DD]]></category>
		<category><![CDATA[EI DuPont de Nemours & Company]]></category>
		<category><![CDATA[F]]></category>
		<category><![CDATA[Ford Motor Company]]></category>
		<category><![CDATA[JCI]]></category>
		<category><![CDATA[Johnson Controls Inc.]]></category>
		<category><![CDATA[MT]]></category>
		<category><![CDATA[UIS]]></category>
		<category><![CDATA[Unisys Corporation]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=56646</guid>
		<description><![CDATA[• CIT Group (NYSE:CIT) reported Q3 earnings of $0.66 per share, beating estimates of $0.49, and revised its Q1 and Q2 earnings higher after adopting FSA accounting standards. Revenues in the quarter rose 17% year-over-year to $7.0 billion, and were above estimates of $6.76 billion • Unisys (NYSE:UIS) reported third-quarter earnings of $0.65 per share, well below estimates of $0.86. Revenues in the quarter fell 13% to $960.6 million, and were below estimates of $1.04 billion • DuPont (NYSE:DD) reported third-quarter EPS of $0.40, beating estimates of $0.34 • ArcelorMittal (NYSE:MT) reported Q3 EPS of $0.89. Revenues in the quarter jumped 30% to $21.0 billion but were below estimates of $21.3 billion • Ford (NYSE:F) reported Q3 EPS of $0.48, topping estimates of $0.38. Ford&#8217;s third quarter revenue was $29 billion, well ahead of consensus ]]></description>
		<wfw:commentRss>http://www.stockbloghub.com/2010/10/26/dd-company-news-for-october-26-2010-corporate-summary/56646/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>(AA) Dennis Slothower with your Stealth Stocks Weekly Update on Monday, April 12, 2010</title>
		<link>http://www.stockbloghub.com/2010/04/13/aa-dennis-slothower-with-your-stealth-stocks-weekly-update-on-monday-april-12-2010/33584</link>
		<comments>http://www.stockbloghub.com/2010/04/13/aa-dennis-slothower-with-your-stealth-stocks-weekly-update-on-monday-april-12-2010/33584#comments</comments>
		<pubDate>Tue, 13 Apr 2010 15:04:05 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Aluminum]]></category>
		<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[AA]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[Alcoa]]></category>
		<category><![CDATA[American International Group Inc]]></category>
		<category><![CDATA[BAC]]></category>
		<category><![CDATA[Bank of America Corporation]]></category>
		<category><![CDATA[C]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Citigroup Inc.]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[markets]]></category>
		<category><![CDATA[Wells Fargo & Company]]></category>
		<category><![CDATA[WFC]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=33584</guid>
		<description><![CDATA[Summary of Recommendations Stay neutral as sentiment, fundamentals and technicals signal major top is developing. Market Commentary Stocks edged up slightly going into the earnings season on hopes the economy is recovering. Just stay out of this. Don&#8217;t buy, don&#8217;t short&#8212;just stay out of this massively manipulated market in extreme extended territory on very low volume. We are about to see some very big surprises. This week begins the earnings reporting season for the first quarter of 2010. After the close today, Alcoa (AA) missed sales estimates. Alcoa reported a net loss of $201 million, or 20 cents a share, compared from a net loss of $497 million, or 61 cents, a year earlier. It&#8217;s better than a year ago, but still a loss. Quarterly sales projections missed at $4.89 ]]></description>
		<wfw:commentRss>http://www.stockbloghub.com/2010/04/13/aa-dennis-slothower-with-your-stealth-stocks-weekly-update-on-monday-april-12-2010/33584/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>(CIT) CIT Group Being Targeted by Australian Bank?</title>
		<link>http://www.stockbloghub.com/2010/03/29/cit-cit-group-being-targeted-by-australian-bank/32196</link>
		<comments>http://www.stockbloghub.com/2010/03/29/cit-cit-group-being-targeted-by-australian-bank/32196#comments</comments>
		<pubDate>Mon, 29 Mar 2010 20:28:38 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Credit Services]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[ING Groep NV]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=32196</guid>
		<description><![CDATA[On Mar 28, the Australian Financial Review reported that CIT Group Inc.’s (CIT) Australian and New Zealand &#8216;s vendor finance business units are being targeted for acquisition by the Australia ’s Bank of Queensland. CIT Australia&#8217;s lending book is worth about A$500 million ($452.1 million) and the net assets are worth about A$200 million. While both the parties are mulling over the agreement drawn, the step towards CIT’s reorganization signals the U.S. company’s critical sustainability amid the volatile economic conditions. Previously, on Nov 1, 2009, CIT filed for bankruptcy protection after it failed to restructure outstanding debt and could not pay its bills. Its finances were hit by the credit market collapse and rising defaults among its customers. The company&#8217;s reorganization resulted in a $10.4 billion reduction in debt obligations, ]]></description>
		<wfw:commentRss>http://www.stockbloghub.com/2010/03/29/cit-cit-group-being-targeted-by-australian-bank/32196/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>(CIT) CIT Group Posts Earnings Loss on Higher Costs</title>
		<link>http://www.stockbloghub.com/2010/03/18/cit-cit-group-posts-earnings-loss-on-higher-costs/30931</link>
		<comments>http://www.stockbloghub.com/2010/03/18/cit-cit-group-posts-earnings-loss-on-higher-costs/30931#comments</comments>
		<pubDate>Thu, 18 Mar 2010 18:45:49 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Credit Services]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=30931</guid>
		<description><![CDATA[On Tuesday, CIT Group Inc. (CIT) reported a net income of $3.2 billion Incorporatedluding the reorganization benefit under the post-bankruptcy accounting known as Fresh Start Accounting (FSA). Excluding special accounting procedures and other items related to its reorganization, its quarterly pre-tax loss was $1 billion. Results reflected low finance revenue as well as high borrowing and credit costs, primarily in Corporate Finance segment of the company. CIT’s commercial net charge-offs, which reflects loans that the company no longer expects to be repaid, totaled $385 million or 4.77% of average finance receivables. Before FSA, allowance for loan losses totaled $1.8 billion at Dec 31, 2009, up significantly from $1.1 billion at Dec 31, 2008. Overall credit metrics weakened considerably. Net charge-offs increased largely reflecting the deterioration from the slow economy, high ]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>($C) U.S. Treasury Reports That New Loans Fall at TARP Banks</title>
		<link>http://www.stockbloghub.com/2010/03/16/c-u-s-treasury-reports-that-new-loans-fall-at-tarp-banks/30746</link>
		<comments>http://www.stockbloghub.com/2010/03/16/c-u-s-treasury-reports-that-new-loans-fall-at-tarp-banks/30746#comments</comments>
		<pubDate>Tue, 16 Mar 2010 21:46:46 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Money Center Banks]]></category>
		<category><![CDATA[BAC]]></category>
		<category><![CDATA[Bank of America Corporation]]></category>
		<category><![CDATA[C]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Citigroup Inc.]]></category>
		<category><![CDATA[CMA]]></category>
		<category><![CDATA[Comerica Incorporated]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[Fifth Third Bancorp]]></category>
		<category><![CDATA[FITB]]></category>
		<category><![CDATA[Goldman Sachs Group]]></category>
		<category><![CDATA[GS]]></category>
		<category><![CDATA[Hartford Financial Services Group Inc]]></category>
		<category><![CDATA[HIG]]></category>
		<category><![CDATA[JPM]]></category>
		<category><![CDATA[JPMorgan Chase & Company]]></category>
		<category><![CDATA[KEY]]></category>
		<category><![CDATA[KeyCorp]]></category>
		<category><![CDATA[Marshall & Ilsley Corporation]]></category>
		<category><![CDATA[MI]]></category>
		<category><![CDATA[PNC]]></category>
		<category><![CDATA[PNC Financial Services Group Inc]]></category>
		<category><![CDATA[Regions Financial Corporation]]></category>
		<category><![CDATA[RF]]></category>
		<category><![CDATA[STI]]></category>
		<category><![CDATA[SunTrust Banks Inc.]]></category>
		<category><![CDATA[Wells Fargo & Company]]></category>
		<category><![CDATA[WFC]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=30746</guid>
		<description><![CDATA[The U.S. Treasury said on Monday that new loans at nine major banks, which received significant government aid through the Troubled Asset Relief Program (TARP) during the height of the financial crisis and have not repaid yet, tumbled in Jan 2010. In its monthly survey of lending on the TARP banks, the Treasury found that new loan originations at these nine banks fell about 35% from Dec 2009 to $35.9 billion in Jan 2010. The amount was even lower than $41.6 billion of loan originations in October when new loans had fallen last. According to the Treasury, the drop in loan originations in January could partially be a result of large increases in originations during November and December of 2009. The nine major banks that are under survey by the ]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>(CIT) CIT Group Expects $900 Million Loss in Fourth Quarter</title>
		<link>http://www.stockbloghub.com/2010/03/03/cit-cit-group-expects-900-million-loss-in-fourth-quarter/29545</link>
		<comments>http://www.stockbloghub.com/2010/03/03/cit-cit-group-expects-900-million-loss-in-fourth-quarter/29545#comments</comments>
		<pubDate>Wed, 03 Mar 2010 22:35:20 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Credit Services]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=29545</guid>
		<description><![CDATA[Following its emergence from bankruptcy protection in Dec 2009, CIT Group Inc. (CIT) said in a regulatory filing with the Securities and Exchange Commission (SEC) on Monday that it expects to report a loss of about $900 million in the fourth quarter and about $4 billion for 2009. However, the expected fourth quarter and full year numbers exclude the effect of CIT&#8217;s massive Chapter 11 reorganization. According to CIT, the full year loss of $4 billion would be offset by the cancellation of debts. In 2008, CIT lost $2.9 billion Incorporatedluding a $2.2 billion loss on the sale of its home lending business and a $468 million charge for goodwill and asset writedowns. Initially, CIT was expected to issue its results on Monday but said it would be delayed until ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SNA) Snap-on&#8217;s Earnings Report Exceeds Consensus</title>
		<link>http://www.stockbloghub.com/2010/02/05/sna-snap-ons-earnings-report-exceeds-consensus/27132</link>
		<comments>http://www.stockbloghub.com/2010/02/05/sna-snap-ons-earnings-report-exceeds-consensus/27132#comments</comments>
		<pubDate>Sat, 06 Feb 2010 00:14:06 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Industrial Goods]]></category>
		<category><![CDATA[Small Tools & Accessories]]></category>
		<category><![CDATA[BDK]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Danaher Corporation]]></category>
		<category><![CDATA[DHR]]></category>
		<category><![CDATA[SNA]]></category>
		<category><![CDATA[Snap-on Inc.]]></category>
		<category><![CDATA[The Black & Decker Corporation]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=27132</guid>
		<description><![CDATA[Snap-on Incorporated (SNA) reported fourth quarter 2009 earnings per share from continuing operations of 63 cents, exceeding the Zacks Consensus Estimate of 55 cents. Sales of $618.1 million in the quarter were up $36.3 million, or 6.2%, sequentially from third-quarter 2009 levels. Fourth-quarter 2009 sales declined 7.4% from 2008 levels; excluding foreign currency translation, organic sales declined 11.1%. Gross profit of $284.4 million in the quarter represented 46.0% of sales, compared with 44.8% in the 2009 third quarter and 44.9% a year ago. Segment Overview Commercial &#38; Industrial Group operating earnings in the fourth quarter increased sequentially by $12.2 million over third-quarter 2009 levels on $36.8 million of higher sales. Segment sales of $302.2 million in the fourth quarter declined $24.6 million, or 7.5%, from 2008 levels; excluding foreign currency ]]></description>
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		<slash:comments>0</slash:comments>
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		<title>(CIT) CIT Group Files for Chapter 11</title>
		<link>http://www.stockbloghub.com/2009/11/02/cit-cit-group-files-for-chapter-11/19402</link>
		<comments>http://www.stockbloghub.com/2009/11/02/cit-cit-group-files-for-chapter-11/19402#comments</comments>
		<pubDate>Mon, 02 Nov 2009 21:56:40 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Credit Services]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=19402</guid>
		<description><![CDATA[CIT Group Inc. (CIT) has filed for Chapter 11 protection on Sunday. The company struggled for months to avoid collapse since the recession elicited billions of dollars in loan losses, and the financial crisis made it incapable of funding itself from its main financing source. This widely expected Chapter 11 filing is one of the largest in U.S. history, following Lehman Brothers, Washington Mutual, WorldCom and General Motors. The U.S. government will probably lose most of its $2.3 billion aid given to CIT last December through the Troubled Asset Relief Program (TARP). We think the problems at CIT will further weigh on the U.S. economy. CIT&#8217;s bankruptcy filing shows $71 billion in finance and leasing assets against total debt of $64.9 billion. The company cited that its bondholders selected a ]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>(CIT) A Rarity: The Small-Business Loan</title>
		<link>http://www.stockbloghub.com/2009/10/14/cit-a-rarity-the-small-business-loan/17579</link>
		<comments>http://www.stockbloghub.com/2009/10/14/cit-a-rarity-the-small-business-loan/17579#comments</comments>
		<pubDate>Wed, 14 Oct 2009 16:39:04 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Credit Services]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[BAC]]></category>
		<category><![CDATA[Bank of America Corporation]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Fannie Mae]]></category>
		<category><![CDATA[FNM]]></category>
		<category><![CDATA[FRE]]></category>
		<category><![CDATA[Freddie Mac]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=17579</guid>
		<description><![CDATA[Today&#8217;s New York Times has an excellent article on the difficulty that small businesses are still having in getting loans. While the capital markets have freed up, and as a result larger firms are able to tap the capital markets for bonds and commercial paper, small businesses cannot do that. For very small businesses, the main sources of credit &#8212; home equity loans and credit cards &#8211; are drying up. Now it looks like one of the biggest lenders to slightly larger firms, CIT Group (CIT) is on the brink of failure. The length and depth of the recession has made many small businesses less credit worthy, and banks are being extremely cautious. This looks like it could be another reason that the labor market is going to stay weak for some time ]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>($GS) Goldman Sachs Group May Amend $3 Billion CIT Group Loan</title>
		<link>http://www.stockbloghub.com/2009/10/07/gs-goldman-sachs-group-may-amend-3-billion-cit-group-loan/17090</link>
		<comments>http://www.stockbloghub.com/2009/10/07/gs-goldman-sachs-group-may-amend-3-billion-cit-group-loan/17090#comments</comments>
		<pubDate>Wed, 07 Oct 2009 19:49:12 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diversified Investments]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Goldman Sachs Group]]></category>
		<category><![CDATA[GS]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=17090</guid>
		<description><![CDATA[Goldman Sachs Group Inc. (GS) is contemplating to amend the terms of a $3 billion loan which it had given to struggling lender CIT Group Inc. (CIT) to enable it to continue using the facility. The investment bank extended a 20-year funding to CIT in Jun 2008. According to the terms of the contract, CIT will pay Goldman 2.85% of the maximum amount lent, which would come to about $85.5 million annually for the first 10 years of the agreement. CIT would be required to pay $1 billion if it files for Chapter 11 bankruptcy. CIT, one of the nation&#8217;s largest lenders to small and midsize businesses, received $2.3 billion in federal bailout funds last year. In July, the company secured a $3 billion emergency loan from some of its ]]></description>
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		<item>
		<title>(AER) AerCap Holdings to Buy Genesis Lease</title>
		<link>http://www.stockbloghub.com/2009/09/22/aer-aercap-holdings-to-buy-genesis-lease/15812</link>
		<comments>http://www.stockbloghub.com/2009/09/22/aer-aercap-holdings-to-buy-genesis-lease/15812#comments</comments>
		<pubDate>Tue, 22 Sep 2009 20:34:50 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Featured]]></category>
		<category><![CDATA[AER]]></category>
		<category><![CDATA[AerCap Holdings N.V.]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[American International Group,]]></category>
		<category><![CDATA[C]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Citigroup Inc.]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric Company]]></category>
		<category><![CDATA[Genesis Lease Limited]]></category>
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		<guid isPermaLink="false">http://www.stockbloghub.com/?p=15812</guid>
		<description><![CDATA[After being significantly hurt by the economic downturn, the first wave of deals to stabilize the aircraft leasing industry is now on its way. Dutch aircraft leasing firm AerCap Holdings (AER) said on Friday it would buy Genesis Lease Ltd. (GLS) in an all-stock deal worth $302.6 million for greater scale and access to more funds for aircraft purchases. The weak market condition has created the necessity for such consolidation. The combined entity will create the largest publicly listed aircraft leasing company, controlling about 5% of the total leased market. With 358 commercial aircraft and 83 engines that are either owned, on order, under contract or letter of intent, or managed, the combined company is expected to significantly contribute to the recovery of the industry. It will also have 116 ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(DELL) Stock Market News for August 28, 2009 &#8211; Market News</title>
		<link>http://www.stockbloghub.com/2009/08/28/dell-stock-market-news-for-august-28-2009-market-news/13778</link>
		<comments>http://www.stockbloghub.com/2009/08/28/dell-stock-market-news-for-august-28-2009-market-news/13778#comments</comments>
		<pubDate>Fri, 28 Aug 2009 23:48:41 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Personal Computers]]></category>
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		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Citigroup Inc.]]></category>
		<category><![CDATA[DELL]]></category>
		<category><![CDATA[Dell Inc.]]></category>
		<category><![CDATA[TOL]]></category>
		<category><![CDATA[Toll Brothers Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=13778</guid>
		<description><![CDATA[U.S. stocks recovered from early losses to end the day slightly higher, helped by a rebound in energy, financial and technology shares.  Volume was extremely light as investors, lacking in enthusiasm, refrained from taking big positions. The Dow Jones industrial average, which at one point had given up as much as 84 points, rose 37.11 points, or 0.4%, to close at 9,580.63, its eighth consecutive advance.  The broad Standard &#38; Poor&#8217;s 500-stock index rose 2.86 points, or 0.28%, to 1,030.98.  The tech-heavy NASDAQ composite index edged up 3.30 points, or 0.16%, to 2,027.73, helped by a late-session rally in technology shares.  Treasuries fell, pushing the yield on 10-year notes up 0.3 point to 3.46%.  On the New York Stock Exchange 1.16 billion shares exchanged hands and advancing shares were ahead ]]></description>
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		<title>(CIT) CIT Rescue Shows Credit Isn’t Dead</title>
		<link>http://www.stockbloghub.com/2009/07/20/cit-cit-rescue-shows-credit-isn%e2%80%99t-dead/10853</link>
		<comments>http://www.stockbloghub.com/2009/07/20/cit-cit-rescue-shows-credit-isn%e2%80%99t-dead/10853#comments</comments>
		<pubDate>Mon, 20 Jul 2009 21:27:47 +0000</pubDate>
		<dc:creator>InvestmentU</dc:creator>
				<category><![CDATA[Credit Services]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[CIT Group]]></category>
		<category><![CDATA[Red Hat Incorporated]]></category>
		<category><![CDATA[RHT]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=10853</guid>
		<description><![CDATA[by The Investment U Research Team We may not be out of the woods yet in terms of the global economic picture, but the news from CIT Group (NYSE: CIT) is a big indicator that things are getting (slightly) better. CIT announced that it would take a $3 billion loan from their bondholders to save the company from bankruptcy. Shares had plummeted 80% in a crash last week that was eerily similar to Lehman Brothers and Bear Stearns. Rescues like this are a part of normal market where at some point there are buyers for assets. When assets can fall well below their value without buyers stepping in – as we’ve seen over the past six months – its unusual and mean the markets aren’t operating efficiently. CIT’s demise was ]]></description>
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