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american express co. - All News and Analysis
Bank of America Sells China Bank Stake
Reuters
- 2009-01-07
By Tony MunroeHONG KONG (Reuters) - Bank of America Corp BAC, coping with tough economic conditions, raised $2.83 billion by selling part of its stake in China Construction Bank Corp , and Hong Kong's richest tycoon sold a $500 million stake in rival Bank of China .Shares in China's big...
Poor Results Signal Trouble For Legg's Miller
Reuters
- 2008-12-31
By Muralikumar AnantharamanBOSTON (Reuters) - Legg Mason Inc's LM once-celebrated Value Trust fund is set for its worst-ever annual returns in 2008, and some investors grumble that time is running out for its manager, Bill Miller.The flagship stock mutual fund lost 57 percent in the year to December 29, the...
American Express, CIT Get Approval For TARP Funds
Reuters
- 2008-12-23
By Juan LagorioNEW YORK (Reuters) - American Express Co AXP and CIT Group CIT, received approval to get $5.72 billion under the government's financial bailout program on Tuesday.Both companies, struggling with mounting credit losses and higher financing costs, morphed into bank holding companies in order to qualify for funds under...
The Good, The Bad, And the Ugly in Bank Loans
Seeking Alpha
- 2008-11-20
Jeffrey Bernstein submits: The Federal Reserve's survey of loan quality for U.S. commercial banks is in. Bottom line, it's still all about residential housing delinquencies and charge-offs, which remain ugly and are killing the banks. Surprisingly to some, credit card delinquencies and losses are holding up reasonably well, and while...
American Express: A Creditable Investment - Barron's
Seeking Alpha
- 2008-11-15
American Express AXP, the credit card firm recently approved to be a bank holding company, has seen its shares plummet this year as the credit crisis rages on and the economy grows weaker. The markets may have overreacted, says Barron's Andrew Bary. AmEx should have enough liquidity to see it...
Why AmEx Becoming a Bank Holding Company is a Positive Move
Seeking Alpha
- 2008-11-13
Vitaliy N. Katsenelson, CFA submits: American Express AXP becoming a bank holding company [BHC] is not just net positive for the company it is simply positive. When a highly leveraged investment bank like Goldman Sachs GS turns into a BHC, its future profitability suffers as its leverage drops to...
Is American Express Worth the Risk?
Seeking Alpha
- 2008-11-13
Ockham Research submits: One of the major developing stories this week is the conversion of American Express AXP to a bank holding company in order to receive funds from the government’s Troubled Asset Relief Program (TARP). This situation is similar to the Fed’s decision to allow the immediate conversion...
Which is a Better Short Candidate - Capital One or American Express?
Seeking Alpha
- 2008-11-13
Lockstep Investing submits: Assume credit cards are the next crisis. Also, assume the crisis comes because the charge off rates go so high that no wants to buy credit card bonds. Where is the best place to be short? Looking at options, both Capital One Financial...
AmEx Taps the TARP; Not the Same AmEx Buffett Bought
Seeking Alpha
- 2008-11-13
Todd Sullivan submits: The investing thesis behind American Express AXP has always been that it has a higher quality of user and thus its defaults will be lower than the typical credit card issuer. Unlike Visa V and Mastercard MA who issue their cards through banks and collect a...
American Express Cleared to Become Commercial Bank: Mixed Reactions
Seeking Alpha
- 2008-11-11
Money Morning submits: By Mike Caggeso American Express Co. AXP Tuesday won approval from the U.S. Federal Reserve to become a commercial bank, giving the credit card titan a crucial lifeline as the risk of defaults runs higher in the slowing global market. by Money Morning
American Express: Stock Up, Profits Down
Seeking Alpha
- 2008-10-23
Bullish Bankers submits: By Chris Barrella American Express AXP [25.05, +0.03 (+0.12%)] blew past analysts expectations after the close Monday. With consensus estimates calling for $0.59 cents per share, AmEx reported diluted earnings per share from continuing operations of $0.74 cents per share, which was down 21% from $0.94...
American Express Company F3Q08 (Qtr End 09/30/08) Earnings Call Transcript
Seeking Alpha
- 2008-10-20
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of Robert Napoli – Piper Jaffray Robert Napoli – Piper Jaffray The restructuring if you could quantify the charge in the fourth quarter and the outlook for savings benefits into 2009 from the restructuring. Daniel...
Earnings Preview: American Express
Seeking Alpha
- 2008-10-17
American Express AXP is expected to report Q3 earnings after market close Monday, Oct. 20, with a conference call scheduled for 5:00 pm. Guidance Analysts are looking for EPS of 59c on revenue of $7.31B. The consensus range for EPS is 33c to 71c, while the consensus range for revenue...
Bond Expert: Friday Wrap
Seeking Alpha
- 2008-10-17
John Jansen submits: Agency, Swaps and Mortgages Agency spreads were unchanged today versus Treasury paper. One trader noted that the market remains lethargic and is likely to stay that way until someone in authority offers some clarity on the issue of the less robust guarantee that the GSEs have...
Bad Mortgages Are Only the Beginning
Seeking Alpha
- 2008-10-17
NuWire Investor submits: Yesterday I talked a bit about how, through the bailout bill, the government was given the authority to invest the $700 billion in things outside of mortgage debt, the requirement being that the investment be critical to supporting the U.S. economy. This has led to auto...
Bailout Likely To Expand Beyond Mortgages
Seeking Alpha
- 2008-10-16
NuWire Investor submits: While most of the press surrounding the bailout plan thus far has been specifically focused on mortgages, the government was given the ability to buy up debt other than mortgages. Now the struggling finance wings of the major car manufacturers are trying to get in on...
The New York Times Announces The 2009 New York Times Travel Show
- 2008-10-03
FEBRUARY 6 - 8, 2009 AT THE JACOB K. JAVITS CONVENTION CENTER, NYC Presented by American Express NEW YORK -- The New York Times announced today that the sixth annual New York Times Travel Show will be held Feb. 6 - 8 at the Jacob K. Javits...
The Mess on Wall Street: $4 Trillion Down the Drain
Seeking Alpha
- 2008-09-16
Erick Schonfeld submits: October 7, 2007 by Erick Schonfeld
Schedule of events
- 2008-09-15
SUNDAY, OCTOBER 12 8 A.M.-7:30 P.M. REGISTRATION 1:30 P.M.-3:30 P.M. MEET THE NRN EDITORS: SPECIAL MARKET BRIEFING No publication has its finger on the pulse of the restaurant industry like Nation's Restaurant News. With the largest editorial staff in foodservice publishing, NRN's editors talk with...
S&P to Rally If Financials Hold: A Huge 'If'
Seeking Alpha
- 2008-09-14
James Cullen submits: I came across this call by David Kostin, Goldman Sachs’ GS Chief US Portfolio Strategist, in which he says the S&P 500 could have 12% upside to 1,400 by year-end. This part in particular caught my eye: Bullish signpost to watch for: a Moderation of losses...
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- Revenue (Fiscal Year) $110.0M
- Profit (Fiscal Year) $66.0M
- Incorporated: 1965
- CEO: Mr. Kenneth I. Chenault
American Express is a global payments and travel company. Co.'s products and services include charge and credit cards; Travelers Cheques and prepaid products; consumer travel services; business travel, corporate cards and other expense management products and services; network services and merchant acquisition and merchant processing for its network partners and proprietary payments businesses; and point-of-sale, back-office, and marketing products and services. These products and services are sold through various channels including direct mail, the Internet and direct response advertising. At Dec 31 2007, Co. had two segments: Global Consumer Group and Global Business-to-Business Group.
Stock Quote
Board of Directors
Mr. Kenneth I. Chenault Chairman
Mr. Edward D. Miller
Mr. Steven S. Reinemund
Mr. Robert D. Walter
Mr. Ronald A. Williams
Mr. Edward P. Gilligan Vice-Chairman
Mr. Daniel F. Akerson
Ambassador Charlene Barshefsky
Ms. Ursula M. Burns
Mr. Peter Chernin
Mr. Jan Leschly
Mr. Richard C. Levin
Mr. Richard A. McGinn
NAICS Code
All Other Nondepository Credit Intermediation: 522298
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