Discover Financial Services (DFS) Monday said it commenced an underwritten public offering of $500 million of its common stock. The net proceeds from the offering would be used for general corporate purposes, which may include capital contributions to the company's subsidiary, Discover Bank, possible investments in the company's businesses, or possible repurchase of fixed rate cumulative perpetual preferred stock issued by Discover to the U.S. Treasury under its Capital Purchase Program. The company would grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares offered to cover over-allotments, if any. In addition, the company said it plans to offer senior notes in the near future.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.