Discover's

Higher spending on Discover's cards helped boost its loan balances.

Discover's Profit Tops Forecasts Andrew R. Johnson 2011

"Discover's business is holding up much better than what you would find across the banking sector," said John Stilmar , an analyst with SunTrust Robinson Humphrey.

Discover's Profit Tops Forecasts Andrew R. Johnson 2011

Discover's profit more than doubled, and American Express's profit rose 31%.

Credit-Card Company Stocks Charge Ahead Steven Russolillo 2011

Donald Fandetti , an analyst with Citigroup, said he was pleased with Discover's results and attributed the stock decline to overly high expectations among some investors and "knee-jerk reaction around the net interest margin."

Discover's Profit Tops Forecasts Andrew R. Johnson 2011

Discover's shares were down 3.4% at $23.01 in midday trading.

Discover's Profit Tops Forecasts Andrew R. Johnson 2011

The credit-card issuer expects higher account balances, newly opened accounts and balance transfers on cards wooed away from rival issuers to result in "modest" growth in Discover's overall credit-card portfolio in the second half of 2011.

Banks Loosen Purse Strings Ruth Simon 2011

Discover's total average loans for the quarter were $53.01 billion, up 6.7% from a year earlier and 2.5% from the fiscal second quarter.

Discover Earnings Surge Andrew R. Johnson 2011

"Nearly a third of small-business owners told us they have contemplated going out of business sometime during the past two months, which is up from spring of 2008," said Ryan Scully , director of Discover's business credit-card division.

Enterprise Dispatch 2011

Mr. Nelms attributed the higher spending to Discover's increased marketing efforts and rewards program offerings.

Discover Earnings Surge Andrew R. Johnson 2011

Discover's net interest margin was 9.1% in the quarter, down from 9.28% a year ago and 9.26% in the previous quarter.

Discover's Profit Tops Forecasts Andrew R. Johnson 2011