CIT Group Inc. (NYSE:CIT) After yesterday’s over massive gain of over 16% , today the stock has again opened on a positive note and shown a gap opening by surging another 5%. Currently the stock is trading at $1.69 on huge volume of 9 million shares traded within a few minutes of trading. The stock has a 52 week range of $0.31 -$13.00.

a leading provider of financing to small businesses and middle market companies, today provided an update on the progress of several components of its restructuring. On August 3, 2009, the Company announced that it amended the terms of its pending offer for its $1 billion Floating Rate Senior Notes due August 17, 2009. The withdrawal deadline was extended until midnight, New York City time, at the end of Wednesday, August 5, 2009. The withdrawal deadline has passed and eligible bonds tendered, and not withdrawn, met the 58% minimum tender condition. The tender offer will expire at midnight, New York City time, at the end of Friday, August 14, 2009.