1. Discover Financial Services (DFS) is being removed from the S&P 500. 2. Coinbase Global (COIN) will replace DFS in the index. 3. Capital One Financial Corp. is acquiring Discover Financial Services. 4. The acquisition is subject to final closing conditions. 5. The changes take effect on May 19, 2025.
The removal from the S&P 500 indicates a negative market perception of DFS, akin to other cases like GE's exit from the index. Such events often lead to declines as institutional investors may sell their positions.
The news of removal from the S&P 500 directly affects investor sentiment and stock performance, severely impacting DFS's market status and future outlook.
The immediate impact on DFS will be felt around the effective date, as market participants react to the removal news, similar to other index removals where affected stocks typically see price drops.
/PRNewswire/ -- Coinbase Global Inc. (NASD: COIN) will replace Discover Financial Services (NYSE: DFS) in the S&P 500 effective prior to the opening of trading on Monday, May 19. S&P 500 constituent Capital One Financial Corp. (NYSE: COF) is acquiring Discover Financial Services in a deal expected to be completed soon, pending final closing conditions.
| Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector |
|---|---|---|---|---|---|
| May 19, 2025 | S&P 500 | Addition | Coinbase Global | COIN | Financials |
| May 19, 2025 | S&P 500 | Deletion | Discover Financial Services | DFS | Financials |
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