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Stock Market & Financial Investment News

News Breaks
March 21, 2014
09:13 EDTDFS, COF, AXPAmex, Capital One, Discover can return large amount of profit, says Buckingham
After the Fed released the results of its stress test, Buckingham thinks that American Express (AXP), Capital One (COF), and Discover (DFS) all have significant capital surpluses which should permit them to return a large portion of their earnings to investors via repurchases and dividends in 2014. The firm continues to recommend buying all three stocks.
News For AXP;COF;DFS From The Last 14 Days
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July 23, 2015
15:04 EDTCOFNotable companies reporting after market close
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14:17 EDTAXPEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
12:32 EDTAXPOn The Fly: Top stock stories at midday
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July 22, 2015
19:02 EDTAXPOn The Fly: After Hours Movers
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17:47 EDTAXPAmerican Express sees marketing expenses increasing 'substantially' in 2H
Comment from Q2 earnings call.
16:37 EDTDFSDiscover reports Q2 personal loan net charge-off rate up 15 points to 2.1%
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16:35 EDTDFSDiscover reports Q2 card 30+ day delinquency rate down 8 points to 1.55%
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16:34 EDTDFSDiscover reports Q2 net charge-offs up 3% to $347M due to loan growth
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16:32 EDTDFSDiscover reports Q2 card net charge-offs down 5 points to 2.28%
Net charge-off rate for credit card loans decreased 5 basis points from the prior year to 2.28% and the delinquency rate for loans over 30 days past due decreased 8 basis points to 1.55%.
16:30 EDTDFSDiscover reports Q2 Basel III CET1 capital ratio 14.5%
Reports Q2 Basel III Tier 1 capital ratio 15.3%. Reports Q2 fully phased-in Basel III CET1 capital ratio 14.4%. Data provided in Q2 earnings presentations slides within a regulatory filing.
16:08 EDTDFSDiscover reports Q2 Payment Services transaction dollar volume down 7% to $47.5B
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16:08 EDTAXPAmerican Express sees substantial increase in investment in 2H
"We continue to see opportunities across the company and this quarter marked the initial stage of a ramp up in investment spending on growth initiatives. As planned, we expect to increase our investments substantially in the second half of the year. Our focus will be on: acquiring new Card Members; gaining additional business from consumer, small business and middle market customers; expanding our presence internationally; growing our merchant network; building our loyalty coalition business; and introducing new digital capabilities," said the company.
16:07 EDTDFSDiscover reports Q2 EPS $1.33, consensus $1.32
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16:07 EDTAXPAmerican Express Q2 ROI 28.1% vs. 28.8 % last year
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16:04 EDTAXPAmerican Express reports Q2 EPS $1.42, consensus $1.32
Reports Q2 revenue $8.28B, consensus $8.46B.
15:26 EDTDFS, AXPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:01 EDTCOF, AXPEarnings Watch: American Express reports after several 'top pick' mentions
American Express (AXP) is expected to report second quarter earnings after the close on July 22, with a conference call scheduled for 5:00 pm ET. American Express is a global financial services company specializing in credit card and pre-paid card products and services. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $8.46B. The consensus range is $1.23-$1.41 for EPS and $8.29B-$9.01B for revenue, according to First Call. LAST QUARTER: On April 16, American Express reported first quarter EPS of $1.48 against expectations for $1.37, and revenue of $7.95B versus estimates of $8.21B. The company reported ROE of 29% and guided towards flat to modestly down FY15 EPS as it ramps investments to offset the March 2016 expiration of its Costco (COST) partnership. NEWS: On May 12, American Express authorized the repurchase of up to 150M company shares while also raising its dividend 12% to 29c per share. During the Bernstein Strategic Decisions Conference on May 28, company executives remarked that a "range" of co-brand deals would be coming up for American Express, adding that the loss of the Costco contract was not the "be-all, end-all" for the company. On June 17, Reuters reported that a U.S. appeals court affirmed a prior ruling that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa (V) or Mastercard (MA). STREET RESEARCH: On April 27, Nomura downgraded American Express to Neutral from Buy, citing minimal upside to 2015 and 2016 estimates amid a lack of near-term catalysts. Meanwhile, Bernstein upgraded the stock to Outperform from Market Perform on May 6. On May 18, Deutsche Bank reiterated a Buy rating and $90 price target on American Express shares, saying it sees a $750M-$850M annual revenue opportunity through the "Plenti" loyalty program coalition. On June 2, Bernstein said it expects credit card volumes to grow 10%-12% annually over the next five years, adding that American Express, Capital One (COF) and Synchrony Financial (SYF) are its favorites in the sector. Following meetings with American Express executives, Citi called American's risk/reward ratio "attractive" on June 4, and on July 8, Deutsche Bank said it was positive on credit card stocks going into second quarter earnings, with American Express named a top pick. PRICE ACTION: Shares of American Express are near flat to $78.96 ahead of Wednesday's earnings report.
12:47 EDTDFSDiscover to pay $18.5M in fines related to student loan servicing practices
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10:55 EDTAXPAmerican Express technical notes ahead of results
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July 21, 2015
13:07 EDTAXPAmerican Express July weekly volatility elevated into Q2 and outlook
American Express July weekly call option implied volatility is at 35, August is at 20, September is at 18; compared to its 52-week range of 12 to 28, suggesting large near term price movement into the expected release of Q2 results on July 22.
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