Why Discover Financial Services Shares Are Trading Higher By Around 11%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Discover Financial Services (DFS) shares rose by 11% in pre-market trading after Capital One Financial Corp (COF) announced plans to acquire DFS in a $35.3 billion all-stock deal, offering a 26% premium over DFS's last closing price. Other stocks showed significant pre-market movements, with notable gainers including AgriFORCE Growing Systems (AGRI) and Shineco, Inc. (SISI), and losers like Universe Pharmaceuticals INC (UPC) and MicroCloud Hologram Inc. (HOLO).
February 20, 2024 | 1:09 pm
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NEUTRAL IMPACT
Capital One Financial Corp announced its plans to purchase Discover Financial Services in a $35.3 billion all-stock transaction.
While the acquisition is a strategic move for COF, the impact on its short-term stock price is uncertain due to the significant outlay and the all-stock nature of the deal.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Discover Financial Services shares rose by 11% in pre-market trading following the announcement of its acquisition by Capital One Financial Corp.
The acquisition announcement by Capital One, offering a 26% premium over DFS's last closing price, is a strong positive signal for DFS shareholders, likely leading to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100