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Fly News Breaks for January 20, 2017
DFS, AXP
Jan 20, 2017 | 10:06 EDT
Stephens analyst Vincent Caintic reiterates an Underweight rating for American Express (AXP) after disappointing 2017 EPS guidance and believes the company's Q4 results are a negative read for Discover (DFS). The analyst says that American Express' results lead him to reconsider upside for Discover's Q4 results, nothing that the latter is under more rewards and loan growth pressure relative to the former. Caintic also raised his price target for American Express' shares to $70 from $65 on valuation.
News For AXP;DFS From the Last 2 Days
DFS
Mar 28, 2024 | 06:11 EDT
In a regulatory filing on Wednesday, Discover (DFS) announced that its board accepted the resignation of Michael G. Rhodes from his positions as CEO and President of the company, a member of the board and a director and officer of Discover Bank, each effective April 1. Rhodes, who was not expected to have a long-term role at the combined company after completion of the company's merger with Capital One (COF), informed the board that he has accepted a job offer at another financial institution. Also on Wednesday, Ally Financial (ALLY) announced that Rhodes will be its new CEO, starting at the company on April 29.
DFS
Mar 27, 2024 | 16:14 EDT
Ally Financial (ALLY) announced that Michael Rhodes will be its new CEO, starting at the company on April 29. He will also be appointed as a member of Ally's board of directors at that time. Rhodes most recently served as CEO of Discover Financial Services (DFS) and was a member of the company's board of directors. He additionally held the role of President of Discover Bank and sat on the Bank's board of directors.