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Discover Financial Services (DFS)

- NYSE
  • Aug. 27, 2013, 8:23 AM
    • 0% balance transfers are nothing new, but today's teasers come with unusually lengthy periods - up to 2 years - and are being offered to a wider swath of customers than in the past, say industry executives (anyone who lived through the last credit cycle will find that hard to believe).
    • Naturally, it comes with a catch, and lenders make money by charging a one-time transfer fee - typically 3%. Kudos to the credit card operators for slipping "0%" by regulators, while charging 3%.
    • While JPMorgan (JPM), Citigroup (C), and Discover (DFS) are among those aggressively going after the business, American Express (AXP) CEO Ken Chenault isn't a fan. "Putting out a substantial number of 0% offers doesn't appear to target the affluent prospects some competitors claim to be after, nor is it a net revenue driver over the short term," he told investors earlier this month.
    • The others claim the practice allows them to grow their loan portfolios after they shrank dramatically in wake of the financial crisis.
    | Aug. 27, 2013, 8:23 AM | 2 Comments
  • Aug. 14, 2013, 10:03 AM
    • Loan amounts will range from $25K-$100K, with fixed rates from 5.99%-11.99%. No origination fees.
    • Website
    • Press release
    • DFS -0.3%.
    | Aug. 14, 2013, 10:03 AM | Comment!
  • Jul. 23, 2013, 4:23 PM
    More on Discover (DFS) Q2 earnings: Credit card loans of $49.8B up 5% Y/Y. Credit card delinquencies a record-low 1.58% in last 30 days down 27 bps from a year ago. Loan loss provision of $225M off $37M from a year ago. Net interest margin of 9.44% up 16 bps from a year ago thanks to decreased funding costs as loan yields fell. Net interest income of $116M up 9% Y/Y. Expenses up 2% Y/Y. Payment services reported a $21M pretax loss vs. a $50M gain a year ago, thanks to a $55M charge to support Diners Club International Franchises. 7M shares repurchased for $340M. Shares +0.6% AH. CC at 5 ET. (PR)
    | Jul. 23, 2013, 4:23 PM | 1 Comment
  • Jul. 23, 2013, 4:10 PM
    Discover Financial Services (DFS): Q2 EPS of $1.20 beats by $0.04. (PR)
    | Jul. 23, 2013, 4:10 PM | Comment!
  • Jul. 23, 2013, 12:10 AM
    Notable earnings after Tuesday’s close: AAPL, ACC, ACE, AEC, ALTR, BCR, BRCM, CPWR, DFS, EA, FBC, FNB, FTI, HA, HLIT, HTS, IGT, ILMN, IRBT, JNPR, KFN, LLTC, NBR, NSC, PEI, PLCM, PNRA, RE, RFMD, RHI, RKT, T, TSS, UIS, USNA, VASC, VMW, VOCS, WCN, ZIXI
    | Jul. 23, 2013, 12:10 AM | Comment!
  • Jul. 22, 2013, 5:35 PM
    Notable earnings after Tuesday’s close: AAPL, ACC, ACE, AEC, ALTR, BCR, BRCM, CPWR, DFS, EA, FBC, FNB, FTI, HA, HLIT, HTS, IGT, ILMN, IRBT, JNPR, KFN, LLTC, NBR, NSC, PEI, PLCM, PNRA, RE, RFMD, RHI, RKT, T, TSS, UIS, USNA, VASC, VMW, VOCS, WCN, ZIXI
    | Jul. 22, 2013, 5:35 PM | Comment!
  • Jul. 17, 2013, 5:43 PM
    Discover Financial Services (DFS) declares $0.20/share quarterly dividend, in line with prior. Forward yield 1.59%. For shareholders of record Aug. 08. Payable Aug. 22. Ex-div Aug. 06. (PR)
    | Jul. 17, 2013, 5:43 PM | Comment!
  • Jul. 16, 2013, 12:17 PM
    Credit card trust data for June confirm the industry is seeing modestly lower delinquency rates, mixed net charge-off results, and continuing sluggish growth, says Nomura's Bill Carcache. The standouts in the slow-growth environment were AMEX (AXP) and Discover (DFS), growing 4% and 4.8% respectively, while Capital One (COF) "missed" normal seasonal improvement in delinquencies by 9 bps.
    | Jul. 16, 2013, 12:17 PM | Comment!
  • Jul. 15, 2013, 3:26 PM
    With growth opportunities limited, credit card stocks are expense control and capital-return stories at this point, says Jefferies, and heading into Q2 earnings, Discover (DFS) and American Express (AXP) are best positioned to surprise. Discover is the leader in cutting rewards expense, with AMEX next, and Capital One (COF) not yet slashing.
    | Jul. 15, 2013, 3:26 PM | 4 Comments
  • Jun. 5, 2013, 3:56 PM
    Discover (DFS -1.4%) sees no benefit from Nomura raising its target on the Buy-rated stock to $54 from $50. The analysts see Discover as poised to outperform whether markets move higher or pull back as they expect loss-reserve builds to be more gradual than the consensus view. $54 represents 11x 2014 expected earnings.
    | Jun. 5, 2013, 3:56 PM | Comment!
  • May 30, 2013, 11:14 AM
    Discover (DFS) is reiterated as top-pick among credit-card issuers at Credit Suisse, the analysts noting American Express (AXP) - used to having the field of highest-spending customers to itself - faces stiffer competition. Capital One (COF) is continued at Hold, the team seeing the need for increased marketing as quashing the idea of more cost-cutting.
    | May 30, 2013, 11:14 AM | Comment!
  • May 1, 2013, 11:17 AM
    eBay (EBAY -0.2%) roundup: 1) PayPal and Discover (DFS) have signed deals with 50 merchant acquirers; this will allow PayPal to be an option at 2M+ merchant outlets by year's end vs. 250K today. The Discover partnership went live last month. 2) CEO John Donahoe insists eBay isn't opposed to an Internet sales tax (previous), but wants an out-of-state annual sales threshold of $10M (exempting most Marketplaces merchants) vs. the proposed $1M. 3) Looking to fight off upstarts such as Stripe, PayPal is making it easier to login/pay at multiple merchant sites. 4) Wal-Mart continues to resist PayPal's offline efforts, arguing "the added complexity at the point of sale does not justify acceptance of PayPal."
    | May 1, 2013, 11:17 AM | 1 Comment
  • Apr. 23, 2013, 8:45 AM
    More on Discover Financial (DFS) Q1 earnings: Discover card sales volume +4% Y/Y. 30-day delinquency falls to a record low 1.77%, off 33 bps Y/Y. Net interest margin of 9.39%, up 30 bps Y/Y thanks to lower funding costs. Reserve release of $154M vs. $274M a year ago. Expenses of $75M, up 12% Y/Y due to higher compensation costs. Shares +2.3% premarket. (PR)
    | Apr. 23, 2013, 8:45 AM | 6 Comments
  • Apr. 23, 2013, 8:33 AM
    Discover Financial Services (DFS): Q1 EPS of $1.33 beats by $0.20. (PR)
    | Apr. 23, 2013, 8:33 AM | Comment!
  • Apr. 23, 2013, 12:05 AM
    Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX
    | Apr. 23, 2013, 12:05 AM | 1 Comment
  • Apr. 22, 2013, 5:30 PM
    Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX
    | Apr. 22, 2013, 5:30 PM | Comment!
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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