11:55 AM EST, 11/06/2024 (MT Newswires) -- Capital One Financial's ( COF ) proposed acquisition of Discover Financial Services ( DFS ) received a big boost from Donald Trump's victory in Tuesday's US presidential election, Bloomberg Intelligence analyst Jennifer Rie said Wednesday in a research note.

"Former President Donald Trump's reelection likely removes the final significant hurdle for Capital One to acquire Discover -- a sign-off from the Department of Justice," Rie said. "A Trump DOJ is much less likely to take issue with the combination, while most potential obstacles on the regulatory side have already been cleared."

Shares of Capital One and Discover were up 14.2% and 17.7%, respectively, near 12 p.m. ET

Price: 189.44, Change: +23.39, Percent Change: +14.09