On Wednesday, CIT Group Inc. (NYSE:CIT)’s shares declined -0.67% to $39.89.
CIT Group Inc. (CIT), declared a series of planned initiatives that are designed to advance the Company’s transition to a U.S. Commercial Bank. The Company declared that it would explore planned alternatives for its $10 billion Commercial Air business, and sell its CIT Canada and CIT China businesses.
CIT maintains one of the leading commercial air franchises in the world with one of the youngest and most technologically advanced fleets. It owns, finances and manages a fleet of more than 350 commercial aircraft serving about 100 customers in 50 countries. It provides leasing and financing packages, counting operating leases and structuring and advisory services, for commercial airlines worldwide.
These declarations will further advance CIT’s efforts to simplify and realign its business model and will substantially complete its exit from its international businesses.
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. Its Transportation & International Finance segment offers leasing and financing solutions to operators and suppliers in the aviation and railcar industries.
Eaton Corp plc (NYSE:ETN)’s shares gained 0.29% to $52.52.
Power administration company Eaton (ETN) will declare third quarter 2015 earnings on Friday, October 30, 2015, before the opening of the New York Stock Exchange. The company will host a conference call at 10 a.m. United States Eastern time that day to talk about third quarter 2015 earnings results with securities analysts and institutional investors.
The conference will be accessible through a live webcast that can be accessed via the Eaton Third Quarter 2015 Earnings Results link on Eaton’s home page, which is www.eaton.com. The call replay and news release will also be accessible from this web link.
As the company in mid-September had suggested might be the case, revenues for the third quarter came in below the revenue forecast that had been used to prepare third quarter guidance. In total, revenues were lower by about $300 million, of which the shortfall in organic revenues was $240 million. As a result of the lower revenue, operating earnings per share for the third quarter are predictable to be between $0.95 and $1.00. In spite of the slightly lower than predictable operating earnings per share, operating cash flow in the third quarter came in as predictable, achieving a quarterly record. Accordingly, guidance for 2015 operating cash flow remains unchanged.
Eaton Corporation plc operates as a power administration company worldwide. Its Electrical Products segment offers electrical components, industrial components, residential products, wiring devices, and structural support systems, in addition to single phase power quality, emergency lighting, fire detection, circuit protection, and lighting products.
At the end of Wednesday’s trade, Fitbit Inc (NYSE:FIT)‘s shares dipped -4.31% to $36.84.
Fitbit, Inc., declared the addition of Genuine Thermos® Brand to the growing list of products and popular apps that are part of the Operates with Fitbit® program. Fitbit and Genuine Thermos Brand partnered to introduce the new Thermos Connected Hydration Bottle with Smart Lid to make it compatible with the Fitbit platform, letting consumers automatically track their water intake and integrate their hydration statistics into their Fitbit app so they can more easily meet their hydration aims to assist maintain energy and overall health. Coming in November, the product will be accessible for purchase at Thermos.com, in addition to select retailers, counting Amazon and Target.
The Operates with Fitbit program lets developers, brands and users seamlessly connect the Fitbit platform to popular health & wellness apps, services and hardware products, making it easier for consumers to achieve their wellness aims. Fitbit was the first company in the category to offer an open web API and has thousands of the most popular health & fitness apps, wellness programs and incentive systems, counting FitStar®, MapMyFitness, MINDBODY Connect®, MyFitnessPal, Lose It!, Strava, Walgreens Balance® Rewards and Weight Watchers that connect to the Fitbit platform – in addition to connected hardware products, such as the Stir Kinetic Desk and now the new Thermos Connected Hydration Bottle.
“As one of the fastest growing brands in health and fitness, we see tremendous opportunities to combine our #1 selling devices and software with best-in-class offerings from proven and trusted brands like Thermos,” said Tim Rosa, Vice President of Global Marketing at Fitbit. “The Operates with Fitbit program is just one of the many ways we’re constantly evolving our offerings in order to empower developers, our partners and enhance our user experience with smarter, more automated, easy and fun ways for consumers to reach their health, fitness and lifestyle aims.”
Fitbit Inc. manufactures and provides wearable fitness-tracking devices worldwide. The company makes both wrist bands and clippable devices that monitor a users’ fitness activity by tracking the calories burned or distance covered.
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