DIRS.INFO The most relevant business & tech news

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Credit-card crackdown will net limited rewards
▼ + stars: | 2023-06-22 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 22 (Reuters Breakingviews) - With more than two open accounts for every American, credit cards are practically part of the family. The point of credit cards is to make spending easier, yet in practice their complexity rivals the edgiest financial derivatives. At Capital One, late fees account for a little less than $2 billion of revenue, or roughly 5%, a year. If late fees have raised hackles among U.S. lenders, they’re only a taste of what could lie in store. Currently, issuers can charge $30 for a first late payment and $41 for late payments thereafter if they happen within the following six billing cycles.

Persons: Joe Biden’s, Biden, Banks, don’t, Goldman Sachs, Rohit Chopra, Michael Barr, that’s, There’s, Chase, they’re, –, Joe Biden, Jeffrey Goldfarb, Oliver Taslic Organizations: YORK, Reuters, JPMorgan, Consumer Financial, Bureau, American Bankers Association, Citigroup, Federal Reserve, Securities and Exchange Commission, Discover Financial Services, Bank of America, One, Fed, Biden, University of Michigan, Apple, Chase Sapphire, American Express, Capital, U.S, Consumer Financial Protection Bureau, New York Fed, Thomson Locations: U.S, United Kingdom

☆ These financial stocks were most loved—and hated—by hedge funds during the banking crisis
▼ + stars: | 2023-05-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The banking crisis wreaked havoc in the industry in recent months, and hedge funds have been picking winners and losers among financial stocks, according to Goldman Sachs. Goldman then identified financial and real estate stocks with the largest recent changes in ownership among hedge funds. As for financial and real estate stocks that hedge funds sold the most in the first quarter, Welltower topped the list with 26 funds dumping the name. A number of hedge funds also decreased their exposure to Visa and CME Group . East West Bancorp , Aon , First Interstate BancSystem and Discover Financial Services were other names that hedge funds hated last quarter amid the banking chaos.

Persons: Goldman Sachs, Goldman, Charles Schwab, Welltower, Warren Buffett, Berkshire Hathaway Organizations: Focus Financial Partners, Investors, Valley Bank, First, Fidelity National, SLM Corp, Everest, Visa, CME Group, U.S . Bancorp, East West Bancorp, Aon, Discover Financial Services Locations: BlackRock, First Republic, U.S, Omaha

☆ TipRanks reveals the top 10 financial sector analysts of the past decade
▼ + stars: | 2023-05-14 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +10 min

To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. Top 10 analysts from the financial sector The image shows the most successful Wall Street analysts from the financial sector, in descending order. 3 on TipRanks' top 10 financial analysts list. To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. 3 on TipRanks' top 10 financial analysts list.

☆ Regional Banks’ Deposit Remix Not as Good as the Original
▼ + stars: | 2023-04-22 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

A group of banks that saw deposit gains were consumer lenders such as Discover Financial Services. Photo: Rogelio V. Solis/Associated PressRegional banks have so far held on to deposits better than investors might have feared. Among banks that have reported earnings, deposits across all the large banks tracked by The Wall Street Journal declined by about 1.5% from the end of the fourth quarter to the end of the first. That is much less than the overall 3.3% decline reported by the Federal Reserve across all U.S. banks over that time period. Even just among the large regional banks tracked, the total decline was 2.4%.

☆ The consumer is hanging in due to the strength of the job market: Discover Financial CEO
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe consumer is hanging in due to the strength of the job market: Discover Financial CEODiscover Financial Services CEO Roger Hochschild joins 'Squawk on the Street' to discuss the company's quarterly earnings results, how the bank crisis has impacted Discover Financial, and more.

Paying more for deposits is an effective way for banks to keep customers loyal, analysts said. Smaller banks, which were most strained by the recent crisis, have been able to stem the exodus of deposits for now, according to weekly from the Federal Reserve. That said, the Fed’s data showed deposits at smaller banks were still down some $216 billion during the week ending March 22 from a December high. Meanwhile, large U.S. banks lost out on $96.2 billion in deposits in the week ending March 22, the Fed data showed. Deposits at large banks dropped some $519 billion from as high as $11.2 trillion in February last year.

☆ These stocks are the biggest winners when oil prices surge
▼ + stars: | 2023-04-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Oil prices are on a tear to start the new quarter, and if history is any guide, some stocks are better positioned to benefit from rising prices. The recent surge comes after oil prices tumbled last month to their lowest since December 2021 as Silicon Valley Bank's collapse rattled traders and spurred fears that a banking crisis could dent global economic growth. With oil prices at highs, CNBC Pro screened for the S & P 500 that consistently win during these times. Here are the names that made the list: Given their close correlation to oil prices, it's no surprise that energy stocks topped the list. While energy stocks, on average, benefit most when oil prices rise, other sectors also prosper.

☆ This bank set a fresh high for yield paid on 1-year CDs, now topping 5%
▼ + stars: | 2023-03-21 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

That's because the online bank just lifted the rate on its 1-year certificate of deposit to a fresh high. Bread boosted the rate on its 1-year CD by 5 basis points this week to an annual percentage yield of 5.05% — a new high and a threshold that's 55 basis points above the median rate, according to Stephens. One basis point is equal to one one-hundredth of a percentage point. Discover Financial Services hiked rates to 3.6%, a 10 basis point boost, while American Express increased its rate by 25 basis points to 3.75%. SoFi added 25 basis points to its rate, landing at 4%.

☆ U.S. CFPB's bid to curb late credit card fees faces strong opposition
▼ + stars: | 2023-03-06 | by ( Niket Nishant | ) www.reuters.com time to read: +2 min

Fitch identified Discover Financial Services (DFS.N), Capital One Financial (COF.N), Synchrony Financial (SYF.N) and Bread Financial Holdings (BFH.N) among those at risk. Credit card companies typically rely on late fees to act as a bulwark against spending volumes tapering off when the economic environment is tough. If the CFPB's rule is implemented in its current form, it could reduce those fees by as much as 75% annually, the agency said. Michael Taiano, senior analyst at Fitch Ratings, said card companies could potentially resort to legal action to delay enforcement of these rules. "They could also respond by introducing other fees, like statement charges, which would charge a customer every time they request a statement," Taiano said.

☆ Analysis: US Republicans aim to stymie gun sale codes at state level
▼ + stars: | 2023-03-03 | by ( Ross Kerber | ) www.reuters.com time to read: +6 min

"I don't want card companies to raise interest rates or fees on merchants as a way to dissuade them" from selling guns and ammunition, Owen told Reuters. Visa Inc (V.N) declined to comment on the state bills. Other payment card companies Discover, Mastercard Inc and (MA.N) American Express Co (AXP.N) did not respond to requests for comment. Owen, the Mississippi state legislator, said he expects that payment companies could address any technical issues the bills could create. "I think the credit card companies are going to have to adapt on a state-by-state basis," Owen said.

☆ Exclusive: Discover to enable tracking of purchases at gun retailers from April
▼ + stars: | 2023-02-17 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Proponents of the move, including gun control activists and Democratic politicians, say it will allow financial institutions to better assist authorities in investigating crimes involving gun violence in the United States. Discover said it will include the new code in its next policy and product update to merchants and payment partners, in April. A Visa representative declined to comment on its schedule for the new code. "The decision to use the new merchant category code is eventually left up to the users in the industry," the ISO representative said. Industry leader Visa had a 61% share, Mastercard 26% and American Express 11%.

☆ Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF
▼ + stars: | 2023-02-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics (HZNP.O), which was bought by Amgen (AMGN.O) in December for nearly $28 billion. The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health (SGFY.N). It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank (TD.TO) roughly a year ago for $13.4 billion. Shares in Zoom Technologies Inc (ZTNO.PK) and Airbnb Inc (ABNB.O) were sold, while it reduced its holdings in Amazon.com (AMZN.O), by 54.5%, to 901 million shares. The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.

☆ Morgan Stanley upgrades American Express, says higher-income customer base should continue spending in 2023
▼ + stars: | 2023-02-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A higher-income leaning customer base should position American Express well to ride out a year projected to see a strong uptick in delinquencies, Morgan Stanley said. The upgrade from Morgan Stanley comes after the credit card issuer surged last month after issuing strong guidance and dividend hike, despite weaker-than-expected fourth-quarter results. Given this backdrop, Graseck said that shares of American Express warrant a valuation premium to peers. In the same note, Morgan Stanley downgraded shares of Discover Financial Services to equal weight from an overweight rating, citing the credit card company's post-earnings outperformance. "We prefer the positive earnings growth story out of AXP, expected to see 15% EPS growth in 2023."

☆ Goldman’s Marcus is a lesson in self-made failure
▼ + stars: | 2023-02-02 | by ( John Foley | ) www.reuters.com time to read: +7 min

Being a consumer bank was a good idea when Goldman’s leaders cooked it up eight years ago. Fast forward to 2023, and consumer banking is still highly lucrative. The practice of working through the night is common in the investment banking division Solomon once headed but rare in consumer banking. For example, Goldman’s engineers had to fight to host consumer banking systems on the cloud rather than on the bank’s own servers. That year, nobody from the consumer bank was promoted to the firm’s prestigious partner level.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Allstate, Roblox and more
▼ + stars: | 2023-01-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

A Norwegian Gateway cruise ship leaves from the Manhattan port during sunset in New York City, United States on April 10, 2022. Vornado Realty Trust — Shares of the real estate investment trust shed 3.3% after cutting its quarterly dividend to 37.5 cents per share from 53 cents. Roblox — Roblox shares shed 6% following a downgrade to an underweight rating by analysts at Morgan Stanley. Alcoa — Shares of the aluminum company fell 4.6% on Thursday after the company announced its fourth quarter results. Alcoa's adjusted fourth quarter loss was 70 cents per share, narrower than the 81 cent loss expected, according to StreetAccount.

☆ Discover Financial Services CEO Roger Hochschild: Sales are up 13% in January
▼ + stars: | 2023-01-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiscover Financial Services CEO Roger Hochschild: Sales are up 13% in JanuaryRoger Hochschild, Discover Financial Services CEO, joins 'Squawk on the Street' to discuss recession, earnings, future of the company and more.

☆ Stocks making the biggest moves after hours: Discover Financial, Alcoa and more
▼ + stars: | 2023-01-18 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

Discover Financial Services — Shares of Discover Financial Services slid 6.2% after the credit card company posted quarterly earnings. The firm reported earnings per share of $3.77 on $3.73 billion in revenue where analysts expected earnings of $3.66 per share and $3.66 billion in revenue, according to Refinitiv. Fuller shares fell 4.2% after the company reported earnings that missed estimates. The adhesives manufacturer reported adjusted earnings per share of $1.04 on $958 million in revenue. Alcoa — Shares of Alcoa fell 3.6% after the company reported earnings that showed a net loss of $374 million for the quarter, or $2.12 per share.

☆ U.S. watchdog moves to block 'debt mill' working for Citi, Discover
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

The proposed settlement, which would include a $100,000 fine, would resolve a lawsuit brought by the CFPB against Forster & Garbus in 2019, accusing it of filing tens of thousands of lawsuits without properly documenting the underlying loans. Representatives for Forster & Garbus as well as Citigroup (C.N) and Discover did not respond to requests for comment. The CFPB's complaint stated that Forster & Garbus did not admit nor deny the allegations. The agency also accuses the firm of misleading consumers by claiming its attorneys were meaningfully involved in preparing the lawsuits. Reporting by Douglas Gillison; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Shoppers are dipping into savings and going into debt. That could cause a holiday hangover
▼ + stars: | 2022-12-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

And that would be problematic for an economy that is driven by consumer spending. But the savings rate has come down since, in large part due to the high cost of living. The savings rate fell to just 2.3% in October, according to government statistics released last week. By contrast, the savings rate in 2019 averaged nearly 9%, according to Moody’s. Markowska expects consumer spending to remain solid until layoffs pickup steam, likely during the third quarter of next year.

☆ Stocks making the biggest moves midday: Harley-Davidson, Visa, Microsoft, Biogen and more
▼ + stars: | 2022-10-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Harley-Davidson — Shares of the motorcycle company climbed 13% after Harley reported quarterly earnings beat top- and bottom line estimates. The per share loss was 0.99 euros per share on 3.04 billion of euros in revenue. Analysts surveyed by Refinitiv were expecting a loss of 0.85 euros per share and 3.02 billion of euros in revenue. Visa reported earnings of $1.93 per share on revenue of $7.79 billion. CMG reported revenue of $2.22 billion versus the $2.23 billion expected by analysts surveyed by Refinitiv.

☆ Morgan Stanley upgrades Discover Financial Services as company hopes to restart buyback program
▼ + stars: | 2022-10-26 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Student loan growth strength The firm also expects stronger student loan growth, which also contributes to lifting its price target. In addition, Morgan Stanley sees personal loan growth accelerating to about 7% on the year in 2023 from about 4% in 2022. Discover also noted that they expect consumer payment rates to continue to normalize, adding "some tailwind to loan growth," Graseck wrote. Some offsets Graseck noted a few things that are set to offset earnings growth for the financial services company, including its reserve ratio. "We are holding DFS' reserve ratio flat over the next several years based on our outlook for rising credit losses," she said.

☆ BOJ, BoJo, Beijing and bond bounce
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +5 min

A surge in Japan's ailing yen from 32-year lows later on Friday, amid reports of out-of-hours Bank of Japan intervention in New York, saw a peak-to-trough drop in dollar/yen of almost 4%. There were wild swings again on Monday amid suspicion of further BoJ sales, even though officials refused to confirm the action. A weekend of political twists from Beijing to London only added to edgy market on Monday. China leadership China's Xi Jinping secured a precedent-breaking third leadership term on Sunday and introduced a top governing body stacked with loyalists. Hong Kong's Hang Seng index (.HSI) has now underperformed MSCI's broadest global stock index by almost 50% over two years.

☆ A pivot on the Fed's balance sheet reduction plans could be a bullish driver of stocks next year. Here's what to know.
▼ + stars: | 2022-10-24 | by ( Max Adams | ) www.businessinsider.com time to read: +5 min

No, not quantitative tightening, but rather quantitative tinkering. Don't forget about the Fed's massive balance sheet. changing the pace or even pausing balance sheet reduction) would also be a bullish development. When does the Fed pivot from its rate hike and balance sheet reduction plans? Here's where stock market investors want to be as signs of a powerful rally start to form.

☆ Cramer's lightning round: You are fighting the Fed with Discover Financial
▼ + stars: | 2022-10-13 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Discover Financial Services : "You are fighting the Fed with DFS. I think the ag group is ready to roll again, as in bull market mode." Loading chart...Royalty Pharma PLC : "I like it, and I'm going to stick with it. Loading chart...Tellurian Inc : "It's at $2, and stocks stop at $0. Loading chart...Zoetis Inc : "I think the stock is now undervalued.

Search resuls for: "Discover Financial Services"

25 mentions found