Capital One Financial Corp. has reported net principal charge-offs of $342.3 million for its U.S. credit card business, while delinquencies of 30 days or more totaled $2.65 billion. Automotive added another $71.4 million in write-offs and $1.68 billion in delinquencies.
Commented Credit Suisse, which rates the stock an "outperform": "Overall, it appears that April losses and delinquencies are trending flat with the previous month. Given management's commentary on the last quarterly earnings conference call, we would expect May and June to show continued deterioration in credit trends." Read more.