Stocks in the news: CIT Group, Philips Electronics, Goldman Sachs


The following post rounds up the companies making headlines today:

CIT Group Inc. (CIT) is struggling to survive. The lender said Sunday it is still in talks with regulators about the possibility of participating in the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program to improve its near-term liquidity as recent losses may jeopardize its compliance with capital requirements and other capital raise could require to securitize assets. CIT shares plunged 15 percent ahead of the bell.

Royal Philips Electronics (PHG) kicked off Europe earnings season by reporting a 94 percent profit drop in the second quartr, but still managed to surprise as analysts had forecast a loss. The world's biggest lighting maker said weak sales and asset divestments in the same period a year ago affected its performance. Sales fell 19 percent. Shares were up 4.6 percent in pre-market trade.