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Discover Financial Services (DFS)

- NYSE
  • 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."
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  • 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)
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  • Apr. 23, 2013, 8:33 AM
    Discover Financial Services (DFS): Q1 EPS of $1.33 beats by $0.20. (PR)
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  • 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
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  • 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
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  • Apr. 16, 2013, 5:08 PM
    Discover Financial Services (DFS) declares $0.20/share quarterly dividend, 43% increase from prior dividend of $0.14. Forward yield 1.86%. For shareholders of record May 09. Payable May 23. Ex-div date May 07. (PR)
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  • Apr. 11, 2013, 2:41 PM
    PayPal's (EBAY +1%) partnership with Discover (DFS +0.1%) will launch on April 19. That's well ahead of a prior eBay forecast for the end of Q2. The tie-up will allow PayPal users to make payments using a phone number and a PIN at ~2M stores handling Discover cards - that's almost certainly playing a role in MasterCard's sudden interest in digital wallet fees. But questions remain about whether users will embrace the concept - cashiers at a Home Depot carrying out a PayPal trial report even early adopters sometimes went back to card-swiping, viewing it as more convenient.
    | 1 Comment
  • Apr. 5, 2013, 3:33 PM
    Discover (DFS) might be the best of the credit card crowd, says Jefferies (AMEX and CapOne earlier), confident the company can continue to see card growth of 4% even in a soft environment. Also noted are charge-offs at the low end of management guidance and the $2.4B buyback program. Risks: Higher expenses driven by rewards and advertising.
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  • Mar. 18, 2013, 5:18 PM
    More from Whitney: There's more than 30% upside to Discover (DFS) for the rest of 2013, she tells CNBC. It's taking market share from the banks by providing credit where they've pulled back, and has become one of the only true growth names among financials. "It's all guns blazing on this name."
    | 2 Comments
  • Mar. 14, 2013, 6:35 PM
    Discover Financial Services (DFS) declares $0.20/share quarterly dividend, 42.8% increase from prior dividend of $0.14. Forward yield 1.87%. The board approved share repurchase program of $2.4B, replacing the prior $2B plan, under which $600M are pending. Shares +3.2% AH. (PR)
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  • Mar. 14, 2013, 5:53 PM
    After-hours top gainers, as of 5:15 p.m.: MUX +4%. BAC +4%. DFS +3%. RRD +2%. MS +2%.
    After-hours top losers: GLDD -31%. ULTA -11%. MWA -9%. KKD -6%. ARO -6%.
    | 6 Comments
  • Mar. 13, 2013, 10:38 AM
    Discover FInancial (DFS +1.5%) is upgraded to Buy at FBR Capital, which boosts FY13 and FY14 estimates thanks to higher receivables growth, better net interest margin, and lower credit costs. FBR downgraded Discover 2 months ago because of the "It" card, but the early returns have made believers of the analyst team.
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  • Mar. 6, 2013, 9:31 AM
    Discover Financial (DFS +1.4%) is upgraded to Buy by Blair's Robert Napoli, arguing the 9.6 PE on 2015 EPS (2015?) gives little credit to the company's franchise value and "proven" management strength. Napoli says the shares deserve a 13 multiple, giving them 35-40% upside from here.
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  • Feb. 27, 2013, 12:57 PM
    Discover (DFS) goes after a new source of cheap funding, adding deposit accounts to its offerings. As with its credit cards, Discover will offer $0.10 for every payment customers make - this as many banks eliminate such rewards. (PR)
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  • Feb. 22, 2013, 11:53 AM
    Discover (DFS) Chairman and CEO David Nelms received $9.96M in salary, stock awards, and incentive pay in 2012. It's down from $13.89M in 2011, but the difference came from the 2011 stock award which included 2010's grant as well . The company also nominates Catamaran CEO Mark Thierer to the board to replace Robert Devlin. (8-K)
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  • Feb. 11, 2013, 1:32 PM
    Student loans and a potential change making them dischargeable in bankruptcy could be a "train wreck" for the economy, but not for Discover (DFS), says President Roger Hochschild. Discover - one of just a few offering loans not backed by the government - is very pleased with the returns it's geting and intends to expand the business, says Hochschild.
    | 2 Comments
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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