Discover Financial is firmly in negative territory after the bell. The credit card and loan provider is facing regulatory scrutiny over a merchant misclassification issue that began in 2007, and it says buybacks will be paused while it undergoes a compliance review. Discover also increasing its credit loss provisions and reporting charge-offs that are higher than expected. As of today's close, Discover is up almost 25% this year and trading at a 52-week high.
Equifax shares dip in extended trading
Equifax is lower in the extended session after a mixed quarterly report. But the credit bureau slashed its Q3 and full-year EPS and revenue outlook to levels below analyst expectations, citing a weaker mortgage market and slowing U.S. hiring. The firm expects both of those trends to continue in the months ahead. While the stock is up a solid 22% in 2023, it's underperforming rival TransUnion, which is up 43% year to date.
Toast shares suffer worst day since February
Toast posted its worst session since February after walking back a recently-launched online order processing fee. Investors and analysts had hoped the fee could firm up the point-of-service provider's margins, but the move outraged customers, prompting the reversal. Despite today's declines, the stock is up 25% in the past three months and was trading at a 52-week high as recently as yesterday.
Elevance Health rises, and so do other health-care shares
ElevanceHealth gave health insurance investors a bit of relief today, gaining 4% after strong results and outlook. That follows a beat from UnitedHealth late last week. Both upbeat reports come after UnitedHealth warned last month that costs were rising due to an increase in surgeries, spurring a selloff in the sector. UnitedHealth, Cigna, CVS and Molina all finished the day higher, as well.
CNBC's Frank Holland will report on the potential impact of a possible upcoming Teamsters strike that could hit one of the trucking companies, and separately UPS.
Both he and Tom Rotunno first noted this trend a few weeks ago, but a lot of the trucking stocks are having a big July.
XPO is up 16% in July, hitting a new 52-week high today.
ArcBest is up 11% in July, and 25% in a full month. Shares also hit a 52-week high today.
TFI International is up 12% in a week. Shares are 5% from a 52-week high.
Old Dominion is up 21% in a month, hitting a new high yesterday.
Hub Group is up 5% in three days, 20% from the 52-week high.
The Reddit stocks
Amid today's Carvana surge, the CNBC data team and Gina Francolla examined several of the other stocks that have been lighting up the Reddit boards recently.
Carvana jumped 40% today after reporting results that beat estimates but mainly on news it is making progress in bringing down the debt load. The stock is up more than 1,000% in 2023 and up 115% in July.
Riot Platforms was up 3.5% today. It is up 60% in July.
Marathon Digital is up 76% in a month. The stock is 11.5% from a 52-week high.
SoFi is up 18% in July. It's 4% from a 52-week high.
Nio is up nearly 10% in July. The stock is 53% from a 52-week high.
Rivian is up 49% in July. It's 39% from the 52-week high.
Snowflake is up roughly 7% in a week. Shares are 10% from the 52-week high.
GameStop isn't getting the Reddit surge recently. It is down 5.6% in a month, and it's 51% from the 52-week high.
Palantir is up 17.7% in July. The stock is 53% from the 52-week high.
AMC Entertainment is down 7% in a month. It's 75% from the 52-week high hit in August 2022.
American Airlines and United Airlines
CNBC's Phil LeBeau has both CEOs live Thursday morning on "Squawk Box."
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