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Why Discover Financial Services Was Racing Higher This Week
The past few days have been very eventful for Discover Financial Services (NYSE: DFS). The company, best known as the entity behind the underdog Discover credit card, is now approved to be acquired by a peer. It also reported encouraging quarterly financials.With these strong winds at its back, according to data compiled by S&P Global Market Intelligence, Discover stock was up by more than 13% week to date as of very early Friday morning.Discover charged into the week on a high note, after the last two federal regulators scrutinizing the company's purchase by Capital One Financial signed off on the deal last Friday. A mere three business days later, Discover published what should be its last quarterly earnings release before being absorbed into Capital One. Continue reading
The past few days have been very eventful for Discover Financial Services (NYSE: DFS). The company, best known as the entity behind the underdog Discover credit card, is now approved to be acquired by a peer. It also reported encouraging quarterly financials.
With these strong winds at its back, according to data compiled by S&P Global Market Intelligence, Discover stock was up by more than 13% week to date as of very early Friday morning.
Discover charged into the week on a high note, after the last two federal regulators scrutinizing the company's purchase by Capital One Financial signed off on the deal last Friday. A mere three business days later, Discover published what should be its last quarterly earnings release before being absorbed into Capital One.
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