Reuters UK (Free subscription) | 23/07/2008
NEW YORK (Reuters) - Standard & Poor's on Wednesday revised its outlook on American Express Co to negative from stable after the credit card issuer and processing network reported a steeper-than-expected profit decline.
Market Watch (Free subscription) | 23/07/2008
SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Wednedsay lowered the outlook on American Express Co. to negative from stable. "Although the current rating allows for some variance in financial performance within a credit cycle, the negative outlook reflects the possibility that operating stress may fall outside expected bounds with the worsening of the U.S. economy," said Ernest...
The Independent (Free subscription) | 23/07/2008
Paragon Group of Companies has become the focus of a potential private-equity bidding war with Blackstone leading the pack, while TPG, which pulled its proposed investment in Bradford & Bingley (B&B) last month, is also understood to have taken an interest.
Wall Street Pit (Free subscription) | 23/07/2008
Wall Street opened sharply lower on Tuesday, following disappointing earnings announcements from co’s, such as - American Express Co. (AXP), Wachovia Corp., (WB), and several other high-profile names, including Apple Inc. (APPL), SanDisk (SNDK), and Texas Instruments (TXN). However, broader indexes began trending higher and regained some ground after oil prices took another sharp drop, touching [...]...
Hispanic Business Magazine (Free subscription) | 22/07/2008
BOSTON (Thomson Financial via COMTEX) -- American Express Co. was Tuesday downgraded to perform from outperform at Oppenheimer, which cited rapidly deteriorating credit quality. Analyst Meredith Whitney said credit deterioration increased beyond American Express' expectations in June, leading to increased second half 2008 loss expectations....
MarketBeat (Free subscription) | 22/07/2008
Apple Inc. and American Express Co. are in very different businesses. The former makes computers and lots of fun-looking gadgets. The latter is a credit-card issuer. But the reason behind the weakness in both companies Tuesday relates to a similar issue: expectations for consumer spending. Both companies surprised investors when they unfurled their latest results late [...]
Seeking Alpha (Free subscription) | 22/07/2008
Michael Shedlock submits: Bloomberg is reporting American Express Falls Most Since 9/11 on Net Decline . American Express Co., the biggest U.S. credit card company by purchases, fell the most in New York trading since the Sept. 11, 2001, terrorist attacks after earnings missed analysts' estimates and the lender withdrew its 2008 forecast. Complete Story »
PointOfLaw Forum (Free subscription) | 22/07/2008
AP reports that a disbarred Manhattan lawyer, who has been convicted of statutory rape, has sued the American Express Co. for giving police credit card information that he says led to his capture in Canada, where he had fled to...
Mish's Global Economic Trend Analys (Free subscription) | 22/07/2008
Bloomberg is reporting American Express Falls Most Since 9/11 on Net Decline . American Express Co., the biggest U.S. credit card company by purchases, fell the most in New York trading since the Sept. 11, 2001, terrorist attacks after earnings missed analysts' estimates and the lender withdrew its 2008 forecast. Chief Executive Officer Kenneth Chenault said yesterday in a conference call that the...
Market Watch (Free subscription) | 22/07/2008
U.S. stocks scale back early losses Tuesday as the price of crude dips more than $4 a barrel, countering earnings results and guidance from American Express Co., Apple Inc. and Wachovia Corp. that intensified worries about the economy.
Reuters UK (Free subscription) | 22/07/2008
NEW YORK, July 22 (Reuters) - American Express Co's shares plummeted over 9 percent on Tuesday, their worst decline since January, a day after the credit card company said credit losses were rising and even its wealthiest customers were slowing their spending.
Market Watch (Free subscription) | 22/07/2008
Retail shares fall after disappointing profit results or outlooks from credit card giant American Express Co. to Apple Inc. ignite further concerns about the health of the U.S. economy and corporate profits.
Market Watch (Free subscription) | 22/07/2008
NEW YORK (MarketWatch) -- U.S. stocks on Tuesday opened lower after earnings results and guidance from American Express Co., Apple Inc. and Wachovia Corp. intensified worries about the continuing credit crisis and its impact on the already ailing economy.
Market Watch (Free subscription) | 22/07/2008
NEW YORK (MarketWatch) - Retail shares opened lower Tuesday after disappointing profit results or outlooks from credit card giant American Express Co. to Apple Inc. ignited further concerns about the health of the U.S. economy and corporate profits. Supermarket chain Supervalu Inc. lowered its profit forecast against worries about the U.S. economy and higher gasoline and food costs. The S&P Retail...
Market Watch (Free subscription) | 22/07/2008
NEW YORK (MarketWatch) - U.S. stocks on Tuesday opened lower after earnings results and guidance from American Express Co., Apple Inc. and Wachovia Corp. intensified worries about the continuing credit crisis and its impact on the already ailing economy. The Dow Jones Industrial Average fell 59.03 points to 11,408.31. The S&P 500 declined 8.85 points to 1,251.15, while the Nasdaq Composite shed 23.31...
