Capital One Financial Corp.’s stock was on track for its largest one-day gain in nearly a year on Friday after the credit-card company’s latest earnings, revenue and net charge-off figures charmed Wall Street.
Friday’s gain came despite losses in the broad market and put the stock into positive territory for the year by 6.8%. The S&P 500 SPX is up by 8.2% in 2023.Oppenheimer analyst Dominick Gabriele reiterated a perform rating on Capital One and zeroed in on the company’s domestic credit-card net-charge-off rate, which is the debt owed to a company that is unlikely to be recovered.
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