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Stock Market & Financial Investment News

News Breaks
July 22, 2014
07:52 EDTCITCIT: OneWest acquisition to have 12-13% pre-tax return on tangible common equity
The acquisition will have a 8% tangible book value per share dilution with approximately four-year earnback. CIT says it will maintain OneWest's existing branches and infrastructure. The restructuring charge will be $75M pre-tax. CIT's board has authorized an additional $500M share repurchase to be executed prior to closing. The synergies from the acquisition will be 100% phased in 2016 with 76c accretion. Sees FY16 standalone EPS of $3.73 and FY16 pro forma EPS of $4.49. Comments taken from slides for call to discuss OneWest acquisition.
News For CIT From The Last 14 Days
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October 15, 2014
06:56 EDTCITCIT Group shares attractive heading into Q3 results, says Stifel
Stifel believes that investors' concerns about CIT are overdone, and the firm thinks that consensus estimates for the company are too low. Stifel finds the stock's valuation attractive and reiterates a $55 price target and Buy rating.
October 14, 2014
11:00 EDTCITHigh option volume stocks
High option volume stocks: ABG AMJ SWI CIT INVE VIP PH AMLP CSX DPZ
October 10, 2014
10:01 EDTCITOn The Fly: Analyst Upgrade Summary
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07:02 EDTCITCIT Group, Century Tokyo Leasing enter partnership
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06:25 EDTCITCIT Group upgraded to Neutral from Underperform at Macquarie
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