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Stock Market & Financial Investment News

News Breaks
October 10, 2012
09:59 EDTCVS, AXP, GDOTGreen Dot falls after firm says CVC close to deal with AmEx
Prepaid card issuer Green Dot (GDOT) is sliding after research firm Jefferies, in a note to investors earlier today, wrote that CVS (CVS) may be planning to offer American Express (AXP) prepaid cards. CVS is one of Green Dot's largest distribution partners, and generates about 6% of the card issuer's total revenues, according to Jefferies. Due to American Express' rapid encroachment on Green Dot's largest distribution partners, the firm reduced its 2012 and 2013 revenue and earnings per share estimates for the company. Jefferies also slashed its price target on Green Dot to $13 from $17 and maintained a Hold rating on the stock. In early trading, Green Dot sank 40c, or 4%, to $9.60. The shares fell significantly Monday after Wal-Mart, another distribution partner of Green Dot, announced a deal to roll-out American Express prepaid cards in 4,000 of its store.
News For GDOT;AXP;CVS From The Last 14 Days
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April 22, 2015
10:28 EDTCVSCVS Health April weekly call activity attributed to takeover chatter
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April 21, 2015
16:15 EDTGDOTGreen Dot receives patent related to mobiles location sharing security
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10:18 EDTAXPBrinker still sees $4 in EPS by FY17
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06:18 EDTAXPUS merchants struggle to meet deadline for accepting chip cards, WSJ reports
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April 17, 2015
16:31 EDTAXPStocks end week lower amid earnings reports, fear about Greece, China
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15:39 EDTAXPCostco deal with Visa, Citi has 'near zero' acceptance costs, Bloomberg says
Costco’s (COST) acceptance costs will be near zero under the terms of its new deal with Visa (V) and Citigroup (C), compared to the roughly 0.6% of each transaction it currently pays to incumbent card partner American Express (AXP), reported Bloomberg, citing people familiar with the deal. Reference Link
10:31 EDTAXPAmerican Express hits a fresh 52-week low after results, levels to watch
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09:36 EDTAXPActive equity options trading on open
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April 16, 2015
16:15 EDTAXPAmerican Express reports Q1 ROE 29%, up from 28.3% a year ago
16:15 EDTAXPAmerican Express says Q1 results negatively affected by stronger U.S. dollar
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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.
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