Discover Financial Services (DFS)

The most significant event was the acquisition of Discover Financial Services by Capital One, completed on May 18, 2025. Prior to the acquisition, DFS stock experienced notable movements, with the share price at $200.05 on May 16, 2025, a 44.62% rise from $138.33 on September 26, 2024. Over the past six months (April 2025 - October 2025), the stock had an 11.58% price change. The stock was up 27.98% over the 30 days leading up to May 16, 2025, and up 60.28% over the preceding 12 months.

Information explicitly detailing demand seasonality for Discover Financial Services' products and services was not readily available. However, demand for its products could generally be influenced by broader economic cycles, consumer spending habits, and seasonal retail trends. Credit card usage and loan applications might see fluctuations around major shopping seasons or during periods of economic growth or contraction. Deposit products might see inflows or outflows based on tax seasons or interest rate environments.

Discover Financial Services operated in the financial services sector, focusing on digital banking and payment services. Its products included credit card loans, personal loans, private student loans, and home loans. Discover also offered deposit products like savings accounts, money market accounts, and CDs. Key brands included the Discover Network, PULSE, and Diners Club International.

Discover Financial Services primarily focused on the U.S. market, with its headquarters in Riverwoods, Illinois, and corporate offices across the United States. Internationally, Discover extended its reach through its Discover Global Network, including Diners Club International, accepted in over 200 countries and territories. Discover also had an office in Farnborough, Hampshire, United Kingdom.

Discover Financial Services' brand reputation was significantly impacted by regulatory issues. Federal banking regulators blamed Discover executives for systematically charging merchants $1 billion in excessive credit card fees, leading to substantial penalties. Discover was ordered to repay $1.2 billion in overcharges to merchants and faced fines from the FDIC and the Federal Reserve Bank. These issues contributed to the resignation of Discover's CEO and a drop in fourth-quarter profit due to compliance and risk-management lapses.

Prior to its acquisition, institutional investors held a significant portion of Discover Financial Services' shares, often exceeding 50% of the company. Major institutional owners included The Vanguard Group, Inc., Capital Research and Management Company, and BlackRock, Inc. Individual ownership accounted for about a 15% stake, while insider ownership was less than 1% of the company's stock.