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Discover Financial Services (DFS)

  • Mar. 21, 2012, 4:33 PM
    More on Discover Financial (DFS): FQ1 earnings beat on all counts with record earnings for the quarter. Revenue grew by 6.3% Y/Y as card sales volume grew 7% from the prior year period to $25.6B. Shares +2.4% AH.
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  • Mar. 21, 2012, 4:25 PM
    Discover Financial Services (DFS): FQ1 EPS of $1.18 beats by $0.22. Revenue of $1.84B (+6.3% Y/Y) beats by $40M. Shares +0.7% AH. (PR)
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  • Mar. 21, 2012, 12:10 AM
    Notable earnings after Wednesday's close: CLC, DFS
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  • Mar. 20, 2012, 5:35 PM
    Notable earnings after Wednesday's close: CLC, DFS
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  • Mar. 15, 2012, 10:37 AM
    Argus initiates coverage on Discover Financial (DFS -1.1%) with a Buy rating and $40 price target. Though the company flew a bit below the radar this week after bigger names grabbed the headlines over the Fed stress test, it also hit the streets running after passing the central bank's scrutiny with a newly announced $2B buyback plan and $0.10 quarterly dividend.
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  • Mar. 7, 2012, 12:59 PM
    Discover Financial (DFS +1.7%) signs a deal to process transactions on India's RuPay payment network as it continues its efforts to grow its global presence to catch up with rivals American Express, Visa, and Mastercard. Keefe Bruyette analyst Sanjay Sakhrani calls the deal a "win" for Discover.
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  • Jan. 14, 2012, 8:50 AM
    You can't tell what stocks to buy just from analyst calls, not when there are 10 "Buys" for every "Sell." But you can learn from studies that show that "Sell" calls - like those recently issued for PLL and GPS - tend to be more prescient than Buy picks. Those calls with recently raised near-term earnings forecasts (as recently with ROST, BRCM and DFS) also move prices more than those without.
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  • Dec. 16, 2011, 9:58 AM
    Stifel Nicolaus upgrades Discover Financial (DFS +3.4%) to Buy from Hold with a $29 target price, saying FQ4 results are further evidence that DFS is outperforming its peers in the credit card industry with strong credit, spending and receivable growth trends. Stifel says the stock pullback is overdone and now presents an attractive entry point; Citigroup's analysis offers a different take.
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  • Dec. 15, 2011, 3:43 PM
    Discover (DFS -3.2%) sells off despite beating earnings and a dividend boost. Spooking investors are worries the company has seen the best of credit improvements. Discover released just $68M in reserves into the profit column in FQ4 against $359M in FQ3. "It's going to be harder for card stocks to outperform over the next 6-12 months," says Donald Fandetti from Citigroup. DFS +24.5% YTD.
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  • Dec. 15, 2011, 8:39 AM
    Discover Financial Services (DFS): FQ4 EPS of $0.95 beats by $0.03. Revenue of $1.80B (+13.2% Y/Y) in-line. Shares +0.8% premarket. (PR)
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  • Dec. 15, 2011, 12:05 AM
    Notable earnings before Thursday's open: DFS, FDX, PIR, RAD
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  • Dec. 14, 2011, 12:07 PM
    Discover Financial (DFS +0.4%) clings to positive territory after Credit Suisse ups estimates ahead of its Q4 due to lower charge-off rates. In September and October the company's trust net loss rate improved 34 bps to 3.26%. To reflect the improvement, the firm raises Q4 EPS estimates to $1.00 from $0.84, and FY11 EPS estimates to $4.10 from $3.95. Separately, CLSA recommends owning Discover going into tomorrows earnings, saying the company will beat expectations.
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  • Nov. 22, 2011, 4:34 PM
    The Fed launches new bank stress tests in which lenders will be forced to model a severe eurozone recession - a 6.9% decline in real GDP - and a skying domestic unemployment rate. In addition, the 6 largest U.S. banks will need to estimate losses "stemming from a hypothetical global market shock," similar to that of late autumn 2008.
  • Oct. 13, 2011, 2:52 PM
    Banks that issue a lot of credit cards are feeling pain, after JPMorgan Chase (JPM -4.9%) CFO Doug Braunstein warned on the company’s conference call that the decline in net charge-offs this quarter should continue in Q4, "but after that you shouldn’t expect much additional improvement." COF -3.3%, DFS -4.2%, ADS -6.2%.
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  • Oct. 11, 2011, 3:43 PM
    Banks gave 5.4M subprime borrowers credit cards in H1, a 64% Y/Y increase, as lenders seek growth where they can find it. It's just a blip compared to the 14.7M cards issued in H1 2007, but the improving performance of recent credit card portfolios are making lenders more comfortable. Data suggest Citigroup (C) is leading the charge.
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  • Oct. 10, 2011, 1:51 PM
    Fitch says U.S. credit card performance improved again with delinquencies and late payments settling near multi-year lows, but warns the trend of improvement may be leveling out. "Credit quality has improved significantly for credit cards...that said, the pace of improvement is showing signs of leveling off and we expect to see stabilizing trends going forward."
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Company Description
Discover Financial Services is a direct banking and payment services company. The Company offers credit card loans, private student loans, personal loans, home equity loans and deposit products.
Sector: Financial
Industry: Credit Services
Country: United States