<< Read Full Article
<< Read Full Article
CIT Group(CIT Quote) on late Monday became the latest financial company to embark on a capital-raising effort dilutive to current shareholders, contributing to the sector's slide Tuesday.
The commercial financier priced a $1.5 billion offering of common and preferred stock, with the common going for $11 a share. The stock, which closed Monday's session at $12.74 a share, dropped $1.99, or 15.6%, to $10.75. CIT has been lately selling off assets to raise capital in order to fund new business.
The NYSE Financial Sector Index ended the day down 82.49 to 7,524.72. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,403.94 | 1,102.49 | 2,195.36 | 34.63 |
Oil *
72.20
|
|
UP
66.89
|
UP
6.55
|
UP
11.63
|
UP
0.40
|
10 Yr
3.46%
SPDR Gold
110.75
|
|
+0.65%
|
+0.60%
|
+0.53%
|
+1.17%
|
Data delayed 20 minutes |
Connect with TheStreet