PriyaPatel
TLDR:
- Capital One is reportedly acquiring Discover Financial Services.
- The deal could be announced as soon as Tuesday.
Capital One Financial is set to purchase rival Discover Financial Services, according to a report by The Wall Street Journal. The deal, which could be announced as early as Tuesday, would bring together two major players in the credit card industry. Capital One, with a market capitalization of $52.3 billion, has seen its stock rise 4.7% in 2024, rebounding from the 10-week line. Meanwhile, Discover Financial Services, valued at $27.6 billion, has experienced a 1.7% dip in its stock price this year following a significant earnings drop in Q4. Despite this, Discover Financial has been finding support at its 50-day line and is nearing a potential buy point from a cup-with-handle base. Investors should stay tuned for further updates on this potential merger and its implications for the financial sector.
