PREMARKET ALERT: CIT Group (CIT)

CIT Group (CIT) shares are likely to see a volume spike Thursday after newspaper reports suggest that a government bailout might not be cards, and talks reportedly broke down. That said, its failure to bonded government funding is not expected to take down the market, as stocks in Europe are trading only modestly lower. The company on Wednesday night was working with existing debtholders to potentially line up more cash, in an effort to avoid possible bankruptcy. — Mike Tarsala