| Discover Financial Services: Diamond In A Rough Sector and Sallie Mae to Ring The NASDAQ Stock Market Opening Bell Remotely From Headquarters in Newark, Delaware |
| News - Financial News |
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Discover Financial Services (DFS) showed up on my radar after finishing dinner with a group of college friends. The waiter dropped off the check and we all pulled out Discover cards. My money senses began tingling, so I did some research: Discover's main services are credit cards, personal banking, and student loans. Student loan debt and credit card debt are growing in the recovering economy. CNN Money reports that credit card use has increased this year and most likely will continue to increase throughout this Christmas season. The Discover US Spending Monitor: Consumer confidence increased substantially in November as more consumers viewed both the economy and their personal finances as improving, according to the Discover U.S. Spending Monitor. The Monitor, a 4-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, recorded more than a 7-point rise from the previous month to 86.3 percent. [Read the full article] NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae, the nation(TM)s no. 1 financial services company specializing in education, will commence trading on the NASDAQ stock market today under the ticker symbol SLM. The company, which offers a full range of financial products for college, will also launch a new corporate logo.Our products help families bridge their dream of college with their personal financial reality, said Jack Remondi, president & COO, Sallie Mae. With 40 years of experience helping families pay for education, only Sallie Mae has all of the tools you need to dream, invest and succeed.The company has helped 31 million customers pursue their dreams of education, including Anais H. who first came to the United States from Cuba as a young girl. My mother only had a sixth-grade education, says Anais. [Read the full article] NEWARK, Del. (AP) -- Sallie Mae will begin trading on the Nasdaq stock market Monday in what the student loan company is calling a "cost-effective" move. In October, the company reported losses of $52 million, or 10 cents per share, though that was an improvement over the third quarter of 2010, when it reported losses of $514 million, or $1.06 per share. Sallie Mae, whose official name is SLM Corp., first announced it was leaving the New York Stock Exchange last month. Its shares, which slide nearly 2 percent before the market opened, will continue to trade under the ticker symbol "SLM." The White House is attempting to accelerate a measure passed by Congress that reduces the maximum required payment on student loans from 15 percent of discretionary income annually to 10 percent. President Barack Obama wants to put the plan into effect in 2012, instead of 2014. [Read the full article] 
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