Wall Street Breakfast: New Payment Giant

News Snapshot:

New payment giant Investors had some time off from the stock market on Presidents' Day, but that couldn't stop some mega deals from turning it into Merger Monday. Capital One (COF) agreed to acquire Discover Financial Services (DFS) in a stock-based transaction valued at $35.3B, creating a new financial giant that will better compete with the likes of Visa (V) and Mastercard (MA). Besides payment networks, the two companies will also form the largest U.S. credit card issuer by loan volume, as well as the sixth-largest U.S. bank by assets, which is sure to attract extra attention from regulators. Reaction:...