Discover: Reiterating My Caution Towards Consumer Finance [Seeking Alpha]
Discover Financial Services (DFS)
Last discover financial services earnings: 4/22 05:35 pm
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US:NYSE Investor Relations:
investorrelations.discover.com
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Source: Seeking Alpha
SummaryDiscover delivered an ugly net loss in the first quarter that should not have caught many by surprise, given the COVID-19 disruptions.What worries me about an investment in this battered credit card and consumer finance stock is the outlook for the remainder of the year.The potential rewards of investing in DFS at current levels do not comfortably justify the risks of doing so, in my view.The fact that the first half of 2020 will be just short of disastrous for the global economy is well known. This is even more so the case for the usual pro-cyclical sectors, including financial services. Within that context, Discover Financial Services' (disclosed after the closing bellWhat worries me about an investment in this battered credit card and consumer finance stock is the outlook for the remainder of the year. As consumer activity begins to recover from March levels in the second quarter, but only slowly, while unemployment rises and small businesses struggle to reopen their doors,
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