Discovery Capital Management’s latest 13F filing with the Securities and Exchange Commission indicates that its portfolio was worth $7.5 billion at the end of the first quarter. The firm bought into 22 new stocks and increased its stake in 28 companies. It also sold off 31 stocks and reduced its position in 20 others. The firm’s top 10 holdings made up just under 40 percent of its value. As of the end of March,...
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This week will mark the second week of significant Q1 2013 reporting. While the world will anxiously await Apple Inc. (NASDAQ:AAPL) and others, the following companies and their reportage should not be overlooked in a week that many suggest will be a make or break week for the Street. Earnings previews for CIT Group Inc. (NYSE:CIT), Coach Inc. (NYSE:COH), Delta Air Lines, Inc. (NYSE:DAL), AK Steel Holding Corporation (NYSE:AKS), and Discover Financial Services (NYSE:DFS). CIT Group Inc. (NYSE:CIT): CIT...
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It is another big earnings day again! Several Dow components plus many other large companies companies are reporting earnings today. Some companies will be reporting earnings before the market opens, other companies will report after the closing bell. We will be post-analysis on some of the more important names. Below is a brief earnings preview for the key companies reporting today, which includes, BlackRock, Inc. (NYSE:BLK), Bank of America Corp (NYSE:BAC), American Express Company...
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Next week American Express Co. (NYSE:AXP) will be announcing its Q3 earnings. What should investors expect with regards to American Express Co. (NYSE:AXP) accounting practices and reserves? Ahead of the American Express (AXP) earnings announcement, CapitalCube assesses the Earnings Quality for the company based on data over the last five years. Today’s blog wraps up our focus on American Express Co. (AXP) for this week. CapitalCube’s earlier articles on the subject included: American Express (NYSE:AXP): Playing cards with Wal-Mart (NYSE:WMT), American Express Co. (NYSE:...
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Discover Financial Services (NYSE:DFS) has posted impressive profits, exceeding Wall Street estimates. This comes as the credit card lender, which currently has a partnership agreement with eBay Inc’s (NASDAQ:EBAY) PayPal, embarks on a bullish stretch in light of fewer defaulted debts. Net income, although 3.4 percent lower than a year earlier, beat the analyst estimate of $1.03 a share, coming in at $1.21 a share or $627 million . A year earlier, Discover Financial...
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Discover Financial Services announced that it has reached an agreement with the FDIC and CFPB over the marketing of credit protection products and will refund $200 million to customers and pay a $14 million penalty. Some investors think this is a positive outcome to this previously disclosed matter and while some additional changes to the company’s marketing practices are likely, we don’t expect them to have a material effect on revenues or earnings. Analysts estimate that the payment protection products in...
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Under the new agreement with Discover Financial Services, Ebay’s PayPal will now have access to millions of physical stores in the United States by next year. According to the deal, PayPal users, with the help of their cards, will be able to purchase from stores that use Discover Network, a payment network with more than 7 million U.S. retail locations. PayPal, a unit of eBay Inc (NASDAQ: EBAY), has been expanding its presence in...
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