Stocks in the news: CIT Group, Nike, Toyota

Some of the companies making headlines today:

CIT Group (CIT) is nearing a plan that likely would hand the commercial lender over to its bondholders, sources familiar with the matter told Reuters on Tuesday. If not enough bondholders agree to the plan, the company could seek to restructure in bankruptcy court, possibly resulting in one of the largest Chapter 11 bankruptcy-court filings in U.S. history. Shares tanked 40 percent in pre-market trade on fears it is on a brink of collapse.

Nike Inc. (NKE) reported its fiscal first quarter numbers Tuesday after the close. Nike beat earnings expectations, but revenues came in slightly under expectations. Shares climbed over 6.5 percent ahead of the bell.