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Stock impact report

Capital One Has Officially Purchased Discover. What the $35 Billion Acquisition Means for Your Credit Cards [CNET News]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: CNET News
Capital One and Discover are now one entity after Capital One's deal to acquire Discover -- one of only four credit card networks -- closed on May 18. “This deal brings together two innovative, mission-driven companies that together are poised to deliver breakthrough products and experiences to consumers, businesses, and merchants,” said Richard D. Fairbank, Founder and CEO of Capital One, in a statement provided to CNET. In February 2024, Capital One announced its plans to purchase Discover for $35.3 billion. Some experts have argued that the merger isn't good news for consumers, since Capital One is the third-largest credit card company, and Discover is one of only four credit card networks. That could mean less competition among credit card companies, leading to higher prices and fees. On the other hand, the deal could give Discover the additional backing it needs to compete with Visa and Mastercard, which some policymakers say have a duopoly on the credit card network marke Show less Read more
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