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American Express News

News on American Express continually updated from thousands of sources around the net.

4 hrs ago | Forbes.com

AmEx Results Show Pain Spreading To High End

Even the wealthy are showing signs of credit problems. Increasing numbers of American Express card holders defaulted in the second quarter, tarnishing the company's earnings.

Comment?

Related Topix: Financial Services, Financial Markets

12 hrs ago | Blogging Stocks

Not a good time to buy American Express

American Express saw a big sell-off in its shares during the after-hours session on Monday following the release of its second-quarter earnings numbers .

Comment?

Related Topix: Financial Services

Thu Jul 24, 2008

Bloomberg

Dollar Trades Near Record Low; American Express Increases Slowdown Concern

The dollar traded near a record low against the euro after American Express Co. said profit dropped 37 percent as more consumers defaulted on loans, raising concern the slowdown in U.S. economic growth may ...

Comment?

Related Topix: Financial Services, Housing, Newport Beach, CA

San Diego Daily Transcript

Money in the Morning

Despite poor reports from American Express and Wachovia , the markets are holding up pretty well this morning.

Comment?

Related Topix: Financial Services, Steve Jobs, Computers, Apple Computer

Business Travel News Magazine

American Express Reports Strong Corporate Travel Sales Growth

American Express Reports Strong Corporate Travel Sales Growth JULY 22, 2008 -- American Express late yesterday reported a 17 percent year-over-year increase to $6.2 billion in global corporate travel sales for ...

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Related Topix: Financial Services

Wed Jul 23, 2008

Seeking Alpha

American Express Challenged By Changing Customer Behavior

The American Express conference call revealed unexpected behavioral changes in the company's best customers.

Comment?

Related Topix: Financial Services

Investopedia

American Express Is Everywhere You Don't Want To Be

American Express just reported second quarter results, and for the most part they were everywhere investors don't want to be.

Comment?

Related Topix: Financial Services, Banking, Bank of America

Earth Times

Falling oil offsets weak techs; Apple drags

The Dow edged up on Tuesday as a drop of about $4.50 in oil prices added to positive sentiment from Caterpillar's strong earnings, offsetting declines in tech shares, including Apple.

Comment?

Related Topix: Financial Services, iPod, iPhone, New York Metro, Science / Technology, Apple

Reuters

VIDEO: Consumer worries rise

Jul. 22 - Disappointing results or outlooks from key consumer-related companies like American Express and Apple revived worries of a consumer-led recession.

Comment?

Related Topix: Financial Services

Reuters

American Express hit by credit losses

American Express Co , a credit card issuer and processing network, reported a steeper-than-expected 38 percent drop in quarterly profit as it set aside more money to cover credit losses and its shares fell ...

Comment?

Related Topix: Financial Services, Hammond, IN

Financial Planning

Amex Backs Off Target for Profit Growth

American Express Co. withdrew its forecast for growth in earnings per share of 4% to 6% this year and said it would accelerate efforts to cut staff and other costs.

Comment?

Related Topix: Financial Services

Tue Jul 22, 2008

Bloomberg

Lehman Fault-Finding Points to Last Man Standing as Fuld Stock Languishes

The year was 1862. The cause of alarm: the Civil War, which had cut off communications between Montgomery, Alabama, where Lehman Brothers was founded a dozen years earlier, and New York, where much of its ...

Comment?

Related Topix: Montgomery Metro, Montgomery, AL, Financial Services, Investment Banking

UPI

NewsTrack Business

U.S. stock indexes were mixed Tuesday after credit card giant American Express pulled back from its growth forecast for 2008.

Comment?

Related Topix: Financial Services, Fannie Mae, Freddie Mac

NY Daily News

Ratted out by Amex, charges perv att'y

A disgraced lawyer has sued American Express for $4 million for telling cops where he was hiding while on the run from charges that he had sex with two underage sisters.

Comment?

Related Topix: Financial Services, Law

KEZI

Results from Wachovia, Apple, AmEx and Texas Instruments dampen investors ahead of bell

Wall Street looked to open sharply lower Tuesday after a dismal quarter from Wachovia Corp.

Comment?

Related Topix: Financial Services, Semiconductors, Wachovia Corporation, Banking, Electronics, Texas Instruments, Science / Technology, Apple

Bloomberg

American Express Declines After Earnings Fall, Chenault Withdraws Forecast

American Express Co. , the biggest U.S. credit card company by purchases, dropped as much as 12 percent after second-quarter earnings fell more than analysts estimated and Chief Executive Officer Kenneth ...

Comment?

Related Topix: Financial Services

Mon Jul 21, 2008

The Washington Post

Widespread earnings woes reflect consumer fears

The deepening plight of the American consumer has started to take a big bite out of corporate earnings.

Comment?

Related Topix: York (Pennsylvania State University System), Science / Technology, Apple, Financial Services

Atwater Signal

American Express 2Q profit tumbles 38 percent

American Express Co. says second-quarter profit tumbled 38 percent as the credit card lender set aside an additional $374 million in reserves.

Comment?

Related Topix: Financial Services, Media, IT Services

Bloomberg

American Express Quarterly Profit May Fall as Economy Squeezes Consumers

American Express Co. , the biggest U.S. credit-card company by purchases, may say profit declined for a third straight quarter as borrowers squeezed by rising prices and unemployment defaulted on more loans.

Comment?

Related Topix: Financial Services, Capital One Financial

Sun Jul 20, 2008

Investopedia

Potential Home Run Stocks For July 15

Many successful individual investors have at some point in time had the enjoyable experience of picking a stock for their portfolio that turned out to be an absolute home run.

Comment?

Related Topix: Warren Buffett, Financial Services, Beverages, CocaCola, Financial Markets, Construction, Berkshire Hathaway, Insurance, Investment Services

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