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Stock Market & Financial Investment News

News Breaks
March 14, 2013
17:26 EDTDFSDiscover receives no objection to capital plan, approves $2.4B buy back program
Discover announced that its board has approved a new share repurchase program authorizing the company to repurchase up to $2.4B of its common stock, and that it plans to increase its quarterly common stock dividend. These actions were part of the company's capital plan, which was submitted to the Federal Reserve as part of the 2013 Capital Plan Review. The Federal Reserve notified Discover that it has no objections to the capital actions through March 31, 2014, set forth in the company's capital plan. It replaces the prior $2B share repurchase program, which had approximately $600M of remaining authorization as of March 14. Any share repurchases after March 31, 2014, would be subject to receiving Federal Reserve non-objection to the company's 2014 capital plan. The company's capital plan includes an increase in the quarterly dividend from 14c-20c per share of common stock in Q2.
News For DFS From The Last 14 Days
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April 16, 2015
17:19 EDTDFSDiscover announces $2.2B share repurchase plan, raises dividend to 28c per share
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17:16 EDTDFSDiscover announces $2.2B share repurchase plan, raises dividend to 28c per share
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April 15, 2015
10:00 EDTDFSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
08:14 EDTDFSDiscover reports March net charge-offs 1.71% vs. 1.86% last month
Reports March delinquency rate 1.43% vs. 1.50% last month.
06:49 EDTDFSDiscover upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Discover to Overweight saying the stock is undervalued after the 10.8% year-to-date pullback. The firm keeps a $65 price target for shares.
April 14, 2015
10:01 EDTDFSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AB InBev (BUD) initiated with a Neutral at Susquehanna... AMC Networks (AMCX) initiated with an Overweight at Piper Jaffray... Avery Dennison (AVY) initiated with a Hold at BB&T... Boston Beer (SAM) initiated with a Neutral at Susquehanna... Brocade (BRCD) initiated with a Neutral at Wedbush... Bunge (BG) initiated with an Overweight at Stephens... CIRCOR (CIR) initiated with a Speculative Buy at Global Hunter... Cabot Microelectronics (CCMP) initiated with a Buy at BB&T... Canadian Natural (CNQ) initiated with a Buy at GMP Securities... Cenovus Energy (CVE) initiated with a Hold at GMP Securities... China Distance Education (DL) initiated with a Buy at Brean Capital... Coca-Cola Enterprises (CCE) initiated with a Negative at Susquehanna... Coca-Cola (KO) initiated with a Negative at Susquehanna... Constellation Brands (STZ) initiated with a Neutral at Susquehanna... Discover (DFS) initiated with an Outperform at Wells Fargo... Dr Pepper Snapple (DPS) initiated with a Neutral at Susquehanna... Flex Pharma (FLKS) initiated with a Buy at H.C. Wainwright... Flowserve (FLS) initiated with a Neutral at Global Hunter... Goldman Sachs BDC (GSBD) initiated with a Neutral at BofA/Merrill... ITT Corp. (ITT) initiated with an Accumulate at Global Hunter... Intra-Cellular (ITCI) initiated with an Outperform at RBC Capital... Keurig Green Mountain (GMCR) initiated with a Positive at Susquehanna... Microsemi (MSCC) initiated with a Buy at Topeka... Molson Coors (TAP) initiated with a Positive at Susquehanna... Monster Beverage (MNST) initiated with a Neutral at Susquehanna... New Oriental Education (EDU) initiated with a Hold at Brean Capital... OM Group (OMG) initiated with a Buy at BB&T... Pattern Energy (PEGI) initiated with a Buy at Citigroup... Pentair (PNR) initiated with a Neutral at Global Hunter... PepsiCo (PEP) initiated with a Positive at Susquehanna... Ply Gem (PGEM) initiated with an Overweight at KeyBanc... SodaStream (SODA) initiated with a Positive at Susquehanna... Splunk (SPLK) initiated with an Outperform at Baird... SteadyMed (STDY) initiated with an Outperform at JMP Securities... Suncor (SU) initiated with a Hold at GMP Securities... SuperCom (SPCB) initiated with a Buy at B. Riley... TAL Education (XRS) initiated with a Buy at Brean Capital... Tarena (TEDU) initiated with a Buy at Brean Capital... Ulta Salon (ULTA) initiated with a Buy at Evercore ISI... Versartis (VSAR) initiated with a Buy, $50 target at SunTrust... WisdomTree (WETF) initiated with a Market Perform at Keefe Bruyette... uniQure (QURE) initiated with a Buy at Roth Capital.
April 13, 2015
16:14 EDTDFSDiscover initiated with an Outperform at Wells Fargo
Wells started shares of Discover Financial Services with an Outperform rating and $67-$70 price target range. It says that within its U.S. large-cap banking coverage universe, Discover is the most leveraged to rebounding credit card loan growth.
April 9, 2015
06:55 EDTDFSDiscover removed from U.S. Focus List at Credit Suisse
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April 8, 2015
06:30 EDTDFSCapital One remains top card issuer pick at Citigroup
In its preview of Q1 results, Citigroup says Capital One (COF) remains its top pick among the card issuers given the company's "strong" card loan growth, capital return and "reasonable" valuation. Citi keeps a Buy rating on the stock with a $95 price target. The firm continues to see a "modestly" improving U.S. consumer, and also has Buy ratings on American Express (AXP), Discover (DFS), MasterCard (MA), Synchrony Financial (SYF) and Visa (V). Citi thinks investor sentiment has become more negative for card issuers around provisioning for loan growth with the group posting mixed stock performance thus far in 2015.

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