US Stock Market Move | First Capital, Inc. has been approved to acquire Discover Financial Services (DFS.US), with the stock rising nearly 3% against the trend.

On Monday, Discover Financial Services (DFS.US) was found to have risen nearly 3% against the trend, and First Capital, Inc. credit (COF.US) rose nearly 1%. On the news front, the Federal Reserve Board and the Office of the Comptroller of the Currency announced on Friday that First Capital, Inc. Bank has been approved to acquire Discover Financial Services and merge with it. This all-stock transaction was first announced over a year ago, and once completed, it will give First Capital, Inc. Bank a significant advantage in the competition with credit card issuing banks such as JPMorgan Chase, Bank of America Corp, and Citigroup, as these banks do not handle transaction business themselves.