DJ Discover Financial Services Down Over 9%, Worst Performer in the S&P 500 So Far Today -- Data Talk

Discover Financial Services (DFS) is currently at $77.83, down $8.02 or 9.34%

-- Would be lowest close since Oct. 14, 2019, when it closed at $77.75

-- On pace for largest percent decrease since July 7, 2009, when it fell 10.76%

-- Earlier Friday, Piper Sandler and Evercore ISI Group downgraded their rating for Discover Financial Services. Deutsche Bank, Morgan Stanley and Wells Fargo all cut their price target for Discover Financial Services, Benzinga reported. Piper Sandler analysts worry that profit margins will diminish as credit costs rise and loan growth slows, Barron's reported

-- On Thursday, Discover Financial Services reported fourth-quarter revenue was $2.94 billion, up 4.9%, but below the $2.95 billion analysts were expecting

-- Snaps a two day winning streak

-- Down 8.24% month-to-date; on pace for worst month since Aug. 2019, when it fell 10.89%

-- Down 16.23% from its all-time closing high of $92.91 on July 26, 2019

-- Traded as low as $76.01; lowest intraday level since Oct. 9, 2019, when it hit $75.74

-- Down 11.46% at today's intraday low; largest intraday percent decrease since July 7, 2009, when it fell as much as 12%

-- Worst performer in the S&P 500 today

All data as of 10:32:37 AM

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

January 24, 2020 10:45 ET (15:45 GMT)

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