Streetbeat News

DFS

Discover Financial Services

https://www.discover.com

Industry

Financial - Credit Services

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts. The Payment Services segment operates the PULSE, an automated teller machine, debit, and electronic funds transfer network; and Diners Club International, a payments network that issues Diners Club branded charge cards and/or provides card acceptance services, as well as offers payment transaction processing and settlement services. The company was incorporated in 1960 and is based in Riverwoods, Illinois.

Open

175.50

Mkt cap

44B

Volume

339K

High

176.65

P/E Ratio

14.07

52-wk high

188.26

Low

173.36

Div yield

0.02

52-wk low

82.15

Barclays analyst Mark Devries has maintained an Equal-Weight rating on Discover Financial Services (NYSE:DFS) but has reduced the price target from $124 to $112.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 10:52 am

U.S. stocks showed mixed performance with tech leading due to AI optimism. Labor data indicated a strong job market. Fed's Bostic suggested rate cuts could start in Q3 if inflation slows. The dollar and Treasury yields rose, while bonds and Bitcoin fell. Oil prices increased after the IEA raised its demand forecast. Major indices and ETFs had varied results, with tech and semiconductors gaining, while utilities and real estate declined. Notable stock movements included NovoCure, Hertz, Tesla, and various chipmakers, while Discover Financial and KeyCorp dropped after earnings misses.

Portfolio Pulse from Piero Cingari

January 18, 2024 | 7:22 pm

KeyCorp (NYSE:KEY) shares dropped by 5.4% to $13.10 after reporting Q4 financial results with revenues of $1.538 billion, down 19% Y/Y, but slightly above consensus. Adjusted EPS of 25 cents also exceeded expectations. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting gains due to different reasons such as acquisitions, financial results, and analyst upgrades. Conversely, several companies saw their shares fall due to negative news such as voluntary delisting, reverse stock splits, and disappointing earnings guidance.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 6:08 pm

Discover Financial Services (NYSE:DFS) stock declined after reporting Q4 earnings of $1.54 per share, missing analyst estimates of $2.52 per share. Revenue increased 13% YOY to $4.196 billion, and total loans grew by 15% to $128.4 billion. The net charge-off rate was 4.11%. Digital Banking pretax income decreased due to higher credit loss provisions and operating expenses, while Payment Services income rose due to higher PULSE revenue. Discover declared semi-annual dividends for its Series C and D stock and is positioned for growth in 2024.

Portfolio Pulse from Adam Eckert

January 18, 2024 | 2:13 pm

Discover Financial's stock is trading lower following the release of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:41 pm

M.D.C. Holdings, Inc. (NYSE:MDC) shares rose by approximately 17% in pre-market trading after announcing an acquisition agreement with Sekisui House, Ltd., where a subsidiary of Sekisui House will acquire MDC for $4.9 billion in cash. Other stocks experienced significant movement in pre-market trading, with notable gainers including Lytus Technologies Holdings PTV. Ltd. (LYT) and Marpai, Inc. (MRAI), and losers such as Aravive, Inc. (ARAV) and Nuvve Holding Corp. (NVVE).

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 12:52 pm

U.S. stock futures indicate a higher opening, with Nasdaq futures surging due to a positive forecast from Taiwan Semiconductor Manufacturing Company Limited (TSMC). The tech sector is expected to benefit from TSMC's optimistic outlook as the tech earnings season begins. Economic data on jobless claims, housing starts, and regional manufacturing activity will be in focus. Analyst Lisa Shalett from Morgan Stanley warns that establishing a new bull market will require more effort than currently anticipated, expecting mid-single-digit returns for U.S. stocks and bonds. Discover Financial Services (DFS) and Plug Power (PLUG) saw premarket declines following their respective earnings release and equity offering announcement. Other companies, including AMD, FAST, FHN, KEY, MTB, NTRS, JBHT, and PPG, are scheduled to report earnings.

Portfolio Pulse from Shanthi Rexaline

January 18, 2024 | 12:31 pm

Discover Financial Services reported a significant drop in Q4 profit, with earnings per share of $1.54, missing the expected $2.52. Despite beating revenue estimates, its shares fell 10.1% in pre-market trading. Plug Power announced a sales agreement for up to $1 billion in stock, causing shares to drop 15.2%. Other stocks mentioned also experienced declines in pre-market trading, including Nukkleus, Talos Energy, Spirit Airlines, On Holding, Ballard Power Systems, and e.l.f. Beauty, which is set to be replaced in the S&P SmallCap 600 by Peabody Energy.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 10:17 am

Investors are watching Fastenal, Alcoa, PPG Industries, Discover Financial Services, and M&T Bank as U.S. stock futures trade mixed. Fastenal is expected to report earnings with a positive after-hours stock movement. Alcoa reported a narrower loss than expected but missed sales estimates and provided a 2024 outlook, leading to a stock decline. PPG Industries is anticipated to report earnings with a slight after-hours stock increase. Discover Financial reported a significant profit drop, causing a sharp decline in its stock. M&T Bank is expected to report earnings with a slight decrease in after-hours trading.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 9:13 am

On Wednesday, U.S. stocks closed in the red with PayPal (PYPL) up 2.46%, Discover Financial (DFS) down 0.84% post-earnings, Spirit Airlines (SAVE) plummeting 22.47% after a blocked acquisition, TSMC (TSM) up 1.26% before Q4 earnings, and Tesla (TSLA) down 1.98% after a price cut in Germany.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 2:14 am

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