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American Express Company (AXP)

  • Oct. 20, 2014, 9:30 AM
    • The upgrades continue to roll in after a tough few weeks for stocks, and Sandler O'Neill boosts American Express (NYSE:AXP) to a Buy with $91 price target, citing the quality franchise, last quarter's 9% increase in card member spending, and operating leverage in 2015 to new investment growth.
    • AXP +0.3% premarket
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  • Oct. 15, 2014, 4:18 PM
    • Q3 net income of $1.477B or $1.40 per share vs. $1.366B and $1.25 one year ago. Average ROE of 28.8% up 450 basis points.
    • U.S. Card Services net income of $889M up 14% Y/Y, on revenues of $4.5B, up 6% after a 9% increase in card member spending. Total expenses of $2.8B up 2%.
    • International Card Services net income of $142M flat from a year ago on revenues of $1.4B up 5% (FX adjusted). Total expenses of $1.1B up 6% (FX adjusted).
    • Conference call at 5 ET
    • Previously: American Express beats by $0.04, misses on revenue
    • AXP -2.9% AH
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  • Oct. 15, 2014, 4:17 PM
    • American Express (NYSE:AXP): Q3 EPS of $1.40 beats by $0.04.
    • Revenue of $8.33B (+0.4% Y/Y) misses by $20M.
    • Shares -1.2%.
    • Press Release
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  • Oct. 14, 2014, 5:35 PM
  • Sep. 30, 2014, 7:42 AM
    • "For Dan (Schulman), this represents an opportunity to serve as CEO of a publicly-traded company, and, in many ways, it is a return to his roots leading digital and mobile technology companies at critical phases in their development," says AmEx (NYSE:AXP) CEO Ken Chenault, reminding that Schulman was CEO of Priceline earlier in his career, then launched Virgin Mobile, and led the pre-paid group at Sprint.
    • Replacing him as AmEx's Group President of Enterprise Growth is a key member of his team, Neal Sample, who joined AmEx in 2012 from eBay.
    • Source: Press Release
    • Previously: eBay spinning off PayPal
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  • Sep. 18, 2014, 7:24 AM
    • AmEx (NYSE:AXP) is the only credit card accepted at Costco (NASDAQ:COST) stores, and will continue to be so at U.S. locations, but the tie-up with Canadian stores will end, effective January 1.
    • Costco has 88 stores in Canada vs. 468 in the U.S. and Puerto Rico. The company says it will have information on new payment options soon.
  • Sep. 15, 2014, 9:18 AM
    • Sounding like he attended the AmEx presentation at the Barclays Financial Services Conference last week, Barron's Avi Salzman says the company's focus on being more inclusive should be a big boost to profits and the stock price.
    • The latest effort is the EveryDay card with its ad campaign featuring "regular-girl" Tina Fey using her AmEx (NYSE:AXP) card to buy stuff like acne cream and dryer sheets. There's also Bluebird, the prepaid debit card launched with Wal-Mart, and Serve, another prepaid card which can be reloaded at places like Family Dollar and 7-Eleven. RIght now, Bluebird and Serve represent a tiny fraction of AmEx revenues, but the opportunity - according to AmEx and the analyst community - is huge, with about half the customers under the age of 35 and 90% new or former AmEx cardholders.
    • Shares +0.9% premarket
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  • Sep. 8, 2014, 10:12 AM
    • For every dollar our customers borrow from us, they're borrowing two dollars from our competitors, says an unsatisfied AmEx (AXP -0.2%) Consumer Products & Services President Josh Silverman, taking questions at the Barclays Financial Services conference.
    • Webcast (no presentation slides)
    • The job, he says, is to make clearer to customers American Express' revolving products. One way, he says, is the AmEx EveryDay Card which speaks to someone in the "mass-affluent" category - i.e., someone who isn't going to use their rewards to jet off to France. The EveryDay Card (Tina Fey commercials) offers - for instance - double reward points at supermarkets, and boosts those points by 20% just for using the card 20 times per month.
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  • Sep. 2, 2014, 4:19 AM
    • Apple (NASDAQ:AAPL) is planning a new partnership with major payment networks, including Visa (NYSE:V), MasterCard (NYSE:MA) and American Express (NYSE:AXP) to transform the next iPhone into a mobile wallet, Bloomberg reports.
    • The announcement follows earlier reports that the iPhone 6 will feature NFC and support a mobile payments platform.
    • Along with a fingerprint recognition reader that debuted on the most recent iPhone, the NFC enabled device will be able to ensure secure payments.
  • Aug. 19, 2014, 9:18 AM
    • American Express (NYSE:AXP) is up 0.6% ahead of the bell after Macquarie pulls its Sell rating on the stock, upgrading to Neutral with price target remaining at $81.
    | 1 Comment
  • Jul. 29, 2014, 4:17 PM
    • Net income of $1.529B or $1.43 per share vs. $1.405B and $1.27 one year ago. Net income includes a gain of $626M from closing of business travel JV. ROE of 28.8% 520 bps higher than a year ago.
    • Loss provisions of $489M down 6% Y/Y. Expenses of $5.9B up 2%.
    • U.S. Card Services net income of $770M up 4% Y/Y, with revenue of $4.5B up 6% - Card Member spending up 9%.
    • International Card Services net income of $77M down 63%, with revenue of $1.4B up 7%. Net income slipped at least in part due to a restructuring charge
    • Global Commercial Services net income of $561M up from $226M a year ago thanks to that JV gain.
    • Global Network & Merchant Services net income of $373M down 9%.
    • Conference call at 5 ET
    • Previously: American Express beats by $0.05, revenue in line
    • AXP -0.2% AH
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  • Jul. 29, 2014, 4:05 PM
    • American Express (NYSE:AXP): Q2 EPS of $1.43 beats by $0.05.
    • Revenue of $8.66B (+5.1% Y/Y) in-line.
    • Shares -0.23% AH.
    • Press Release
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  • Jul. 28, 2014, 5:35 PM
  • Jul. 22, 2014, 3:38 PM
    • American Express Company (NYSE:AXP) declares $0.26/share quarterly dividend, in line with previous.
    • Forward yield 1.11%
    • Payable Nov. 10; for shareholders of record Oct. 3; ex-div Oct. 1.
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  • Jul. 9, 2014, 10:04 AM
    • "This summer appears to be an inflection point for accelerating consumer spending with opportunities for improving balance growth by the card lenders," says Guggenheim, lifting American Express (AXP +0.5%) to a Buy from Neutral.
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  • Jul. 4, 2014, 2:55 AM
    • AmEx (AXP) will go to trial Monday, facing an antitrust lawsuit from the U.S. government. The latter is claiming AmEx limits competition, hurting credit card providers that charge lower processing fees.
    • According to the government, American Express bans its millions of merchants from offering incentives for customers to use less-expensive credit cards or cash when making purchases. However, AmEx claims the rules guard customers from price discrimination and have assisted in promoting competition.
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Company Description
American Express Co is a payments, network and travel company, which offers credit payment card products and travel-related services to consumers and businesses.
Sector: Financial
Country: United States