With the economic downturn, rising unemployment, decline in house prices, and limited ability for consumers to continue using their homes as an ATM; credit card debt is poised to be the next disaster in the financial sector with bearish outlooks for credit lenders Capital One (COF), Discover (DFS), and American Express (AXP). Credit card processors such as Visa (V) and MasterCard (MA) have also declined with the overall market, but are leveraged to the volume of transactions with debit and credit cards rather than
Discover Card is being hurt by the weak consumer and credit crunch just like all the other financials. Unfortunately for it, it lacks the same brand strength of V, MA, and AXP.
Discover Financial Services operates as a credit card issuer and electronic payment services company primarily in the United States. The company offers Discover Card-branded credit cards to individuals and small businesses over Discover’s signature card network; and other consumer products and services, including prepaid and other consumer lending and deposit products through the Discover Bank subsidiary. Its payments businesses consist of Discover Network, a comprehensive payments network that supports multiple card products, issuers, and processors; PULSE, an ATM/debit network; and Diners...
Discover Financial Services has been gaining market share, most recently though its purchase of Diners Club. They are also sueing Visa and MC for blocking their marketshare. I think that Discover will grow by leaps and bounds in the coming couple years... Maybe we could see $100 a share in a couple years!
One trend we point to for 2009 is the wave of personal bankruptcies that shall awash Americans; we've written story after story after story about how people are now hiding out in their last option: credit cards - as all other places to stash debt have been shut off or used up. Ironically the credit card companies successfully lobbied to make personal bankruptcies much harder which led to a rash of filings a few (2?) years ago before the rules changed. Now, we will watch in great irony in 2009-2010 as the politicians who were bought and paid off bring up the credit card company executives ...
U.S. stock futures were higher Tuesday morning at the start of the election day. Overseas, markets also edged higher ahead of the U.S. presidential election, while oil prices declined further to below $64 a barrel. While it is uncertain yet if any of the candidates would help boost sentime...
I know people always ask the question what are you doing right now?!? And that is a difficult question because many of us out there are so confused. So I always tell everyone to remember one of the most important rules that we have here at Urbanomics and that is "keep your ear to da streets". Read, read, and when you're tired read some more. Find out what smart people with big money are doing. For example, let's take our friends over in the hedge fund industry who many wonder what they are doing with their cash during these tumultuous times. I began to do my research looking to hear how th...
Visa (NYSE: V), the famous credit and debit card business, which competes with MasterCard (NYSE: MA) and American Express (NYSE: AXP), reported results for the fourth quarter on Thursday. I came away from them feeling pretty bullish.
No, it wasn't so much the numbers as it was the fact that the credit-card concern constructed a litigation settlement with Discover (NYSE: DFS). The latter had antitrust issues with Visa, and it was a part of the company's story that bothered me. Visa will pony up almost $1.9 billion t
"Eddie Lampert, whose ESL Investments bought $27.6 million of AutoZone (AZO) as the stock hit a two-year low....
the CEO of discount shoe seller DSW (ticker: DSW), Jay L. Schottenstein, shoveled more than $15 million into his company's stock, paying an average of less than $12 a share; the stock now trades for $11.50. Schottenstein's confidence says something, given his retail background. He's the former CEO of American Eagle Outfitters (AEO)....
Mexican investor Carlos Slim Helú bought nearly $11 million of Saks (SKS) stock, boosting his already significant stake in the parent of tony Sa...
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U.S. stock futures were higher Tuesday morning at the start of the election day. Overseas, markets also 
