CIT shares more than double after financing news

NEW YORK, July 17 (Reuters) - Shares of CIT Group Inc CIT.N more than doubled on Friday after a source close to the company said the lender is in talks with JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group Inc (GS.N) for short-term financing. For details, see [ID:nWEN0779]

CIT has been looking for ways to avoid a potential bankruptcy.

The stock traded up more than 100 percent at 89 cents. It closed at 41 cents on Thursday.