Wolfe Research Downgrades Discover Financial (DFS) to Peerperform

Evercore ISI Downgrades Capital One Financial (COF) to In Line

February 22, 2024 4:21 AM EST

Evercore ISI analyst John Pancari downgraded Capital One Financial (NYSE: COF) from Outperform to In Line with a price target of $142.00 (from $160.00).

The analyst comments "Moving to sidelines as DFS deal uncertainty could limit upside; constructive on L/T outlook. We are downgrading COF to In Line from Outperform as we expect uncertainty re: regulatory approval of the DFS deal, lengthy TBV earnback & sizable... More

Capital One Financial's (COF) deal for Discover Financial Services (DFS) has 'strategic merit' - Goldman Sachs

February 21, 2024 7:26 AM EST

On Tuesday, Capital One Financial (NYSE: COF) announced it reached a deal to acquire Discover Financial Services (NYSE: DFS) in an all-stock transaction. According to analysts at Goldman Sachs, the deal has "strategic merit for COF."

This is because it... More

RBC Capital Downgrades Discover Financial (DFS) to Sector Perform Following Agreement with Capital One

February 21, 2024 2:22 AM EST

(Updated - February 21, 2024 10:51 AM EST)

RBC Capital analyst Jon Arfstrom downgraded Discover Financial (NYSE: DFS) from Outperform to Sector Perform with a price target of $140.00 (from $117.00).

The analyst commented, "Discover announced last evening that it has entered into an... More

Capital One-Discover deal adds rival to Visa and Mastercard, easing antitrust concerns

February 20, 2024 5:24 AM EST

By Niket Nishant, Manya Saini and Carolina Mandl

(Reuters) -Capital One Financial's $35.3 billion deal for Discover Financial would create new competition for payments behemoths Visa and Mastercard, potentially helping smoothen the path for regulatory approval, analysts said.

The all-stock deal announced on Monday would create the biggest U.S. credit card issuer, but it would also give Capital One access to Discover's payment network, allowing it to rely less on payments giants Visa and Mastercard.

With some lawmakers having accused Visa and Mastercard of a "duopoly," Capital One's promise to boost payment competition... More

Capital One-Discover merger may 'pose some risks' to Mastercard and Visa - Mizuho

February 20, 2024 4:29 AM EST

Capital One (NYSE: COF) announced Monday its plan to acquire Discover Financial Services (NYSE: DFS) for over $35 billion, combining two of the biggest credit card firms in the U.S. in an all-stock transaction.

Discover... More

Discover Financial Services (DFS) option implied volatility into Capital One (COF) acquiring

February 20, 2024 2:58 AM EST

Discover Financial Services (NYSE: DFS) 30-day option implied volatility is at 27; compared to its 52-week range of 22 to 49 into Capital One (COF) acquiring in all-stock transaction valued at $35.3B.

... More

Capital One/Discover merger may pose risks for Visa (V) and Mastercard (MA) - Mizuho

February 19, 2024 10:57 PM EST

Mizuho Securities analyst Dan Dolev reiterated a Buy rating and $265.00 price target on Visa (NYSE: V), saying news Capital One (NYSE: COF) is buying Discover Financial (NYSE: DFS) merger poses risk to... More

US stock futures edge lower amid rate uncertainty, pre-earnings angst

February 19, 2024 9:05 PM EST

Investing.com-- U.S. stock index futures fell slightly in Asian trade on Tuesday amid persistent uncertainty over the path of  interest rates, while anticipation of key earnings reports this week, particularly from NVIDIA Corporation (NASDAQ: NVDA), kept traders on edge. 

Markets saw a dearth of cues on account of a U.S. market holiday on Monday. But trading action is widely expected to pick up in the coming days, especially as the earnings season rolls on.

... More

Capital One (COF) to acquire Discover Financial (DFS) in all-stock deal

February 19, 2024 7:17 PM EST

Capital One Financial Corporation (NYSE: COF) and Discover Financial Services (NYSE: DFS) today announced that they have entered into a definitive agreement under which Capital One will acquire Discover in an all-stock transaction valued at $35.3 billion.

The transaction brings together two companies with long-standing track records of delivering attractive and resilient financial results, award-winning customer experiences, breakthrough innovation, and financial inclusion.

Under the terms of the agreement, Discover shareholders will receive 1.0192 Capital One... More

Capital One, Discover Financial in merger talks - report

February 19, 2024 12:23 PM EST

Capital One Financial (NYSE: COF) is weighing an acquisition of credit card company Discover Financial Services (NYSE: DFS), Bloomberg News reported Monday afternoon citing people familiar with the matter. A deal, if announced, could... More

Capital One to buy Discover Financial in $35.3 billion all-stock deal

February 19, 2024 11:58 AM EST

By Anirban Sen and Michelle Price

NEW YORK/WASHINGTON (Reuters) -Warren Buffett-backed U.S. consumer bank Capital One plans to acquire U.S. credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 billion to create a global payments giant, the companies said on Monday. The deal, which is expected to receive intense antitrust scrutiny, would form the sixth-largest U.S. bank by assets and a U.S. credit card behemoth that would compete with rivals JPMorgan Chase and Citigroup.

While Discover has a network that spans 200 countries and territories, it is still much smaller... More