Capital One Financial (COF -0.95%) has a deal in place to acquire Discover Financial Services (DFS 12.75%) at a significant premium. Discover shareholders are celebrating, as the market sent shares up by 11% as of 10 a.m. ET.A new leader in credit cardsCapital One and Discover are two giants of the banking industry, but they have taken very different approaches to the lending business. Capital One began its life catering to people who have traditionally had trouble securing credit, but as it has grown, it h ...

NEW YORK, Feb. 19, 2024 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers.  Kuehn Law may seek additional disclosures or other relief on behalf of the shareholders of these companies.  Kuehn Law is investigating whether the Boards of the below companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process:  Discover Financial Services (NYSE: DFS) cl ...

RIVERWOODS, Ill.--(BUSINESS WIRE)--John Greene, Executive Vice President and Chief Financial Officer of Discover, will present at the 2024 RBC Capital Markets Global Financial Institutions Conference on Tuesday, March 5, 2024, at 11:20 a.m. ET. A link to the live webcast will be posted on the day of the conference to Discover's Investor Relations website at http://investorrelations.discover.com. A replay will be available for 90 days after the conference at the same website address. About Discover Discov ...

RIVERWOODS, Ill.--(BUSINESS WIRE)--Ahead of The Big Game kick-off on Sunday, February 11, Discover will unveil a new commercial from the “Especially for Everyone” brand campaign starring award-winning actress Jennifer Coolidge. In the ad, titled “Robots,” Coolidge finds herself in a relatable situation, calling customer service and expecting to only interact with a robot. “Robots” uses Coolidge’s comedic performance to highlight what can be an irritating expectation consumers have when calling customer s ...

RIVERWOODS, Ill.--(BUSINESS WIRE)--John Greene, Executive Vice President and Chief Financial Officer of Discover, will present at the UBS Financial Services Conference on Monday, February 26, 2024, at 10:30 a.m. ET. A link to the live webcast will be posted on the day of the conference to Discover's Investor Relations website at http://investorrelations.discover.com. A replay will be available for 90 days after the conference at the same website address. About Discover Discover Financial Services (NYSE: ...

gesrey Discover Financial Services (NYSE:DFS) is an American financial services company. Founded in 1985, Discover Financial is now a $27 billion (by market cap) major financial services player that employs more than 20,000 people. The company reports results across two business segments: Digital Banking, 98% of FY 2023 revenue; and Payment Services, 2%. On one hand, Discover Financial might look like a bank. And, in a way, that’s exactly what it is. Traditionally speaking, that’s been a pretty good bus ...

Key PointsDiscover, Berkshire Hathaway and JPMorgan Chase are leading the financial sector's recent performance.Discover gapped down on January 19 after reporting a 59% earnings decline and an increase in its reserve for late payments. Institutional investors sent the stock higher in the past five sessions, as a Citi analyst said it's time to buy the dip. 5 stocks we like better than Discover Financial ServicesBank stocks and other financials tracked in the Financial Select Sector SPDR Fund NYSEARCA: XLF ar ...

Discover Financial Services (NYSE:DFS) Q4 2023 Earnings Conference Call January 18, 2024 8:00 AM ET Company Participants Eric Wasserstrom - SVP of Corporate Strategy and IR John Owen - Interim CEO John Greene - CFO Conference Call Participants Rick Shane - JPMorgan Moshe Orenbuch - TD Cowen Mihir Bhatia - Bank of America Sanjay Sakhrani - KBW Bill Carcache - Wolfe Research John Pancari - Evercore ISI Don Fandetti - Wells Fargo Jeff Adelson - Morgan Stanley Terry Ma - Barclays John Hecht - Jefferies Operator ...

Core Insights - Discover reported revenue of $4.2 billion for Q4 2023, reflecting a year-over-year increase of 12.4% and a surprise of +2.41% over the Zacks Consensus Estimate of $4.1 billion [1] - The EPS for the quarter was $1.54, a significant decrease from $3.77 in the same quarter last year, with an EPS surprise of -38.40% compared to the consensus estimate of $2.50 [1] Financial Metrics - Net interest margin was reported at 11%, exceeding the average estimate of 10.8% from 16 analysts [2] - Net charge-offs as a percentage of total loans stood at 4.1%, slightly below the average estimate of 4.2% from 15 analysts [2] - Operating Efficiency Ratio was 42.3%, higher than the estimated 38.7% by 15 analysts [2] - Average balances of interest-earning assets were $147.94 billion, surpassing the estimate of $146.22 billion from 10 analysts [2] - Tier 1 Capital to Risk-weighted assets was 12.1%, slightly below the estimate of 12.2% from 10 analysts [2] - Credit Card Volume for Discover Card Sales reached $57.15 billion, exceeding the average estimate of $56.87 billion from nine analysts [2] - Total Capital to Risk-weighted assets was reported at 13.7%, below the average estimate of 13.9% from eight analysts [2] - Total transactions processed on networks were $3.28 billion, higher than the estimate of $2.93 billion from eight analysts [2] - Credit Card Volume for Discover Card was $60.92 billion, compared to the average estimate of $60.52 billion from eight analysts [2] - Transactions processed on the Discover Network were $974 million, below the average estimate of $995.21 million from seven analysts [2] - Network Volume for the PULSE Network was $79.19 billion, exceeding the average estimate of $73.40 billion from six analysts [2] - Transactions processed on the PULSE Network were $2.31 billion, higher than the average estimate of $1.93 billion from six analysts [2] Stock Performance - Discover shares have returned +0.6% over the past month, compared to the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Discover (DFS) came out with quarterly earnings of $1.54 per share, missing the Zacks Consensus Estimate of $2.50 per share. This compares to earnings of $3.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -38.40%. A quarter ago, it was expected that this credit card issuer and lender would post earnings of $3.15 per share when it actually produced earnings of $2.59, delivering a surprise of -17.78%.Over the last four quarte ...