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More on Capital One (COF): Q4 misses the mark across the board as total revenue declines by 3%...
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Thursday, January 17, 4:28 PM ETMore on Capital One (COF): Q4 misses the mark across the board as total revenue declines by 3% Y/Y. The company says the decline was driven by higher levels of estimated uncollectible finance charges and fees in the company's Domestic Card business. Operating expenses also increased by 5% to $2.9B, due to higher year-end expense patterns and somewhat higher integration expenses. Marketing expense increased $77M in the quarter to $393M. Shares -4.2% AH.
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Goldman Sachs Upgrades Capital One Financial (COF) to Buy
7:34 AM ET, 01/14/2013 - Street Insider
Goldman Sachs upgraded Capital One Financial (NYSE: http://bit.ly/XhYSDh) from Neutral to Buy with a price target of $75.00 (from $65.00), suggesting 21% upside.
Full disclosure: I bought COF JAN60 calls a year ago, and simultaneously sold COF JAN40 puts. When COF broke 62 a month or so back, I sold 65 calls against my position. Was hoping to get taken out post-earnings, and I won't, but even assuming I don't get a penny for my 60s tomorrow, the trades will be 2x net.