Capital One beats on earnings, flexes momentum ahead of closing Discover deal

Capital One shares rose Tuesday evening after the company posted better-than-expected first-quarter profits, driven by beats on credit quality. With the Discover acquisition set to close in less than a month, more gains for the stock could be ahead. Revenue in the three months ended March 31 increased 6.4% year over year to $10 billion, slightly missing the consensus estimate of $10.06 billion, according to LSEG. Adjusted earning per share (EPS) totaled $4.06, exceeding the $3.71 estimate, LSEG data showed. On an annual basis, adjusted EPS increased 26%. Capital One shares jumped about 3 % in after hours trading to around $175 per share. Such a move would extend its week to date gains to about 7.5%. U.S. stock futures also surged Tuesday evening after President Donald Trump said he has " no intention " of firing Fed Chair Jerome Powell. The president also acknowledged that tariffs on China will not remain as high as 145%, although the timing of when they could come down was unclear. COF YTD mountain Capital One's year-to-...
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