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Stock Market & Financial Investment News

News Breaks
January 10, 2013
17:10 EDTAXPAmerican Express reducing activities that don't directly drive revenue
Comments from the American Express Company January 10th investor call.
News For AXP From The Last 14 Days
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August 4, 2015
11:45 EDTAXPAmerican Express settlement with merchants rejected by judge, Reuters says
A U.S. Judge has rejected a proposed class action settlement between American Express (AXP) and merchants who had sued the company over swipe fees, ruling that a lawyer for the merchants had compromised the fairness of the deal, Reuters reports. The judge ruled that lawyer Gary Friedman had acted incorrectly by talking about the case and sharing confidential information with a friend and fellow lawyer who represented MasterCard (MA) in a similar class action suit against the two companies, the report says. Reference Link
11:08 EDTAXPAmerican Express settlement with merchants rejected by judge, CNBC says
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August 3, 2015
16:44 EDTAXPWalgreens Boots Alliance appoints Scardino as Chief Accounting Officer
Walgreens Boots Alliance (WBA) named Kimberly Scardino as its new SVP, global controller, and Chief Accounting Officer, effective August 3. Scardino joins Walgreens Boots Alliance from American Express (AXP), where she was SVP, business advisory controller. Prior to her current role, she was SVP and Americas controller from June 2012 to March 2015. Scardino reports to George Fairweather, EVP and global Chief Financial Officer.
July 30, 2015
09:01 EDTAXPAmerican Express, Best Buy announce e-commerce technology integration
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July 28, 2015
14:55 EDTAXPEarnings Watch: MasterCard reports after peers warn of currency headwinds
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06:13 EDTAXPVisa signs commercial agreement with Stripe, Re/code reports
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July 24, 2015
16:30 EDTAXPStocks end week lower as Apple headlines busy week of earnings
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July 23, 2015
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.
16:08 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 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 EDTAXPNotable 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 EDTAXPEarnings 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.
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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