CIT Group Falls After Posting 42% Drop in Fourth-Quarter Profit
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CIT Group Inc. fell the most in more than five months after reporting a 42 percent decline in fourth-quarter profit.
Shares of the commercial lender tumbled 7.2 percent to $27.72 at 2:27 p.m., the most intraday since Aug. 24. The stock has fallen 30 percent this year, compared with the 7.3 percent decline of the Russell 1000 Index.