Discover Financial Services - DFS STOCK NEWS

Discover Financial Services (NYSE: DFS) is set to release its third quarter 2021 financial results on October 20, 2021, after market hours. Investors can access the earnings report via Discover's Investor Relations site. A subsequent conference call is scheduled for October 21, 2021, at 7:00 a.m. CT, available to the public via the same website. Discover is recognized as a leading digital banking and payment services provider in the U.S., known for its cash rewards credit cards and a variety of financial products, including loans and savings accounts.

Discover has partnered with Phood to launch a meal delivery program for college students, allowing them access to a mobile app for managing meal plan funds. Students can use a prepaid card linked to their campus meal plans for purchases from various local restaurants and delivery services, including DoorDash. The program will initially roll out at Creighton University, Rocky Mountain College, and Radford University, with plans for wider implementation across the U.S. This initiative aims to enhance food options and adapt to changing student preferences post-pandemic.

A recent Discover Student Loans survey reveals that 29% of parents have never discussed the FAFSA with their children, while 22% have done so only a few times. Only 37% of families plan to complete the FAFSA this year. The survey highlights common misconceptions, including the belief that the FAFSA is available year-round and that it takes hours to complete, when most can finish in under an hour. Furthermore, 42% of families not planning to fill it out believe they won't qualify for aid, despite 86% of first-time students at public 4-year colleges receiving financial assistance.

Discover Financial Services has partnered with the NHL and Turner Sports to become the title sponsor of the 2022 Discover NHL Winter Classic on January 1. This event will feature the St. Louis Blues versus the Minnesota Wild at Target Field, with exclusive coverage on TNT. The partnership includes brand integrations on Turner Sports platforms and sponsorship of the Second Intermission Report. Discover strengthens its long-standing support for the NHL, aiming to enhance fan experiences and promote financial literacy.

Discover Financial Services will have its CFO, John Greene, present at the Barclays Global Financial Services Virtual Conference on September 14, 2021, at 12:00 p.m. ET. A link for the live audio webcast will be available on Discover's Investor Relations site that day, with a replay accessible for 90 days. Founded in 1986, Discover is known for its cash rewards credit cards and offers various banking services, including loans and deposit accounts. More details can be found at investorrelations.discover.com.

A recent survey by Discover reveals that the COVID-19 pandemic has altered Americans' financial habits, with 60% acknowledging insufficient savings. A notable 71% expressed a desire to save more. About 75% of respondents are saving the same or more in 2021 compared to 2020, yet nearly half save less than $200 monthly. Gen Z saves the least, with 55% under this threshold. Financial literacy and budgeting awareness are key factors in improved savings, with 40% of savers citing better budgeting knowledge as a reason for increased savings.

Discover Financial Services (NYSE: DFS) reported a significant turnaround in Q2 2021, achieving a net income of $1.7 billion ($5.55 per diluted share), compared to a net loss of $368 million in Q2 2020. Total revenue surged by 34% to $3.579 billion. Despite a slight 1% drop in total loans year-over-year, credit performance improved, evidenced by a net charge-off rate of 2.12%, down 132 basis points. The company announced a $2.4 billion share repurchase program and increased its quarterly dividend from $0.44 to $0.50 per share, reflecting confidence in future growth.

Discover was named one of the 2021 Best Places to Work in IT by IDG's Insider Pro and Computerworld, ranking No. 22 among large companies.

This recognition is based on a comprehensive evaluation of employee benefits, career development, and company culture.

The firm emphasizes employee growth through programs like Discover Technology Academy and offers a competitive benefits package. Discover aims to attract top IT talent across various fields while maintaining its commitment to innovation and social responsibility.

Discover and SIBS MB have signed a strategic agreement to enhance global acceptance for cardholders. This agreement allows Discover and Diners Club International cardholders to use their cards at SIBS MB merchant locations in Portugal. Additionally, SIBS MB will issue MB cards accepted on the Discover Global Network for international purchases. The partnership will increase payment options available to consumers and facilitate more choices for banks and MB cardholders, enhancing both organizations’ global footprint.