Stock Under $10 with 50-100% upside potential - 14 Days FREE!

CIT Group Management Discusses Q2 2012 Results - Earnings Call Transcript

Stock quotes in this article: CIT 

CIT Group (CIT)

Q2 2012 Earnings Call

July 30, 2012 8:00 am ET

Executives

Kenneth A. Brause - Executive Vice President of Investor Relations

John A. Thain - Chairman and Chief Executive Officer

Scott T. Parker - Chief Financial Officer, Chief Accounting Officer and Executive Vice President

Analysts

Christopher Brendler - Stifel, Nicolaus & Co., Inc., Research Division

Donald Fandetti - Citigroup Inc, Research Division

Mark C. DeVries - Barclays Capital, Research Division

Bill Carcache - Nomura Securities Co. Ltd., Research Division

Moshe Orenbuch - Crédit Suisse AG, Research Division

Eric E. Wasserstrom - UBS Investment Bank, Research Division

Bradley G. Ball - Evercore Partners Inc., Research Division

David S. Hochstim - The Buckingham Research Group Incorporated

Sameer Gokhale - Janney Montgomery Scott LLC, Research Division

Henry J. Coffey - Sterne Agee & Leach Inc., Research Division

Kenneth Bruce - BofA Merrill Lynch, Research Division

Presentation

Operator

Good morning, and welcome to CIT's Second Quarter 2012 Earnings Conference Call. My name is Frances, and I'll be your operator for today. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes. I would now turn the call over to Ken Brause, Director of Investor Relations. Please proceed, sir.

Kenneth A. Brause

Thank you, Frances, and good morning, everybody. And welcome to CIT's Second Quarter 2012 Earnings Conference Call. Our call will be hosted by John Thain, our Chairman and CEO; and Scott Parker, our CFO. After their prepared remarks, we will have a question-and-answer session. [Operator Instructions] We will do our best to answer as many questions as possible in the time we have this morning.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE
New! $49.95/yr

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Real Money
TRY IT FREE

24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.

Product Features:
  • Jim Cramer + 20 Wall Street pros
  • Intraday commentary & news
  • Real-time trading forum
  • Actionable trade ideas
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,294.50 -12.67 -0.08%
NASDAQ 3,459.42 -3.88 -0.11%
S&P 500 1,650.51 -4.84 -0.29%
US 10 Yr 2.023% -0.003

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs