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 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.