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Stock Market & Financial Investment News

News Breaks
December 18, 2012
19:22 EDTAXPAmerican Express CEO Chenault discussed for Treasury role, Bloomberg says
Kenneth Chenault, CEO of American Express (AXP), is said to have been approached by the White House about becoming Treasury Secretary, according to a Bloomberg report that cites two people familiar with the matter. Reference Link
News For AXP From The Last 14 Days
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April 16, 2015
16:05 EDTAXPAmerican Express expects FY15 EPS flat to modestly down, consensus $5.48
The company said, “As previously reported, we expect full year 2015 earnings will be flat to modestly down year-over-year with the headwinds we’re facing and as we ramp up investments to help offset the impact from ending our relationship with Costco in the U.S. next year. Looking further ahead, we have a range of growth opportunities across the business and continue to be very positive about the moderate to long term outlook for our company.”
16:03 EDTAXPAmerican Express reports Q1 provisions for losses totaled $420M
Consolidated provisions for losses totaled $420M, down 13% from $485M a year ago. The decrease primarily reflected a larger reserve release this quarter compared to last year. Credit indicators continued to be at historically strong levels.
16:02 EDTAXPAmerican Express reports Q1 EPS $1.48, consensus $1.37
Reports Q1 revenue $7.95B, consensus $8.21B.
15:23 EDTAXPNotable companies reporting after market close
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13:58 EDTAXPEarnings Watch: American Express to report results amid headwinds, controversy
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05:08 EDTAXPAmerican Express announces partnership with Jawbone
American Express and Jawbone announced a new partnership giving eligible U.S. American Express Card Members the ability to tap to pay with the new Jawbone UP4 fitness tracker anywhere American Express contactless payments are accepted in the U.S. This partnership and product launch marks the first time consumers can use a wearable fitness tracker with an embedded NFC chip for Amex payments, redefining what is possible with a 24/7 activity tracker.
April 15, 2015
12:18 EDTAXPAmerican Express reports March net write-off rate 1.5% vs. 1.5% last month
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April 14, 2015
12:09 EDTAXPAmEx to team up with Jawbone for payments via fitness bands, WSJ reports
American Express is planning to team up with Jawbone to allow AmEx cardholders to make purchases via their fitness bands at certain merchants, The Wall Street Journal reports, citing sources familiar with the matter. A source says that the payment mechanism is not expected to be part of Jawbone's UP3, which will begin shipping this month, but will be available on a future offering. It is unclear whether Jawbone will expand the program to accept payments processed by MasterCard (MA) and Visa (V). Reference Link
April 13, 2015
16:18 EDTAXPAmerican Express transferred with a Market Perform at Wells Fargo
Wells Fargo transferred coverage of American Express with a Market Perform rating and raised its price target range for shares to $80-$83 from $78-$83. Wells says the stock's valuation is at the top of major credit card issuers, which it feels adequately reflects Amex's "superior return profile."
07:15 EDTAXPAmerican Express shares could hit $105 in 18 months, says William Blair
William Blair analyst Robert Napoli says shares of American Express (AXP) are trading at nearly a 20% valuation discount to the S&P 500, reflecting "very high" pessimism in the name. Napoli tells investors today that other periods of "extreme pessimism" for American Express included 1998, 2001, and 2008/2009, with each proving to be a buying opportunity. He believes the current period will be no different. Napoli expects Amex shares to trend to historical valuation levels as investors look past the loss of Costco (COST) and better appreciate the company's growth opportunities. The analyst believes a stock price of around $105 is “reasonable” in about 18 months. The credit card issuer closed Friday up 43c to $79.59.
April 10, 2015
08:29 EDTAXPAmerican Express April volatility elevated into Q1 and outlook
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April 8, 2015
09:38 EDTAXPAmerican Express upgraded to Sector Perform from Underperform at Portales
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06:30 EDTAXPCapital One remains top card issuer pick at Citigroup
In its preview of Q1 results, Citigroup says Capital One (COF) remains its top pick among the card issuers given the company's "strong" card loan growth, capital return and "reasonable" valuation. Citi keeps a Buy rating on the stock with a $95 price target. The firm continues to see a "modestly" improving U.S. consumer, and also has Buy ratings on American Express (AXP), Discover (DFS), MasterCard (MA), Synchrony Financial (SYF) and Visa (V). Citi thinks investor sentiment has become more negative for card issuers around provisioning for loan growth with the group posting mixed stock performance thus far in 2015.
April 7, 2015
19:54 EDTAXPCisco, American Express invest in mobile wallet startup, Economic Times says
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11:02 EDTAXPAmerican Express slips after analyst, columnist highlight challenges
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10:05 EDTAXPOn The Fly: Analyst Downgrade Summary
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09:23 EDTAXPOn The Fly: Pre-market Movers
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07:51 EDTAXPAmerican Express downgraded at Oppenheimer
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07:16 EDTAXPRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmEx’s margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
06:36 EDTAXPAmerican Express downgraded to Underperform from Perform at Oppenheimer
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