American Express Reports Q4 Results
American Express turned in solid quarterly results Friday, increased its dividend, and highlighted record levels of card member spending. However, investors seemed to be shrug off the positives, sending shares 2.
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American Express shares fell 1.4% Friday after the company reported earnings and gave an outlook that disappointed some investors. The credit card company logged net income of $2.17 billion, or $3.04 a share,
American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.
Morgan Stanley analyst Jeffrey Adelson maintained a Hold rating on American Express (AXP – Research Report) today and set a price target of
Morgan Stanley raised the firm’s price target on American Express (AXP) to $310 from $305 and keeps an Equal Weight rating on the shares post
American Express Co. profits increased 12% as well-heeled consumers spent more than analysts expected on their credit cards over the holidays, a tailwind the firm said it expects will continue.
Under a nonprosecution agreement the company is to pay a $77.6 million fine and forfeit $60.7 million for the revenue that could have been owed from its Payroll Rewards and Premium Wire programs.
American Express has agreed to pay more than $138 million to resolve a wire fraud investigation related to its sales and marketing practices.
The Justice Department said the company misrepresented its credit card rewards and fees and made false claims about the tax benefits of its wire transfer products.
American Express Travel Insurance has build-your-own packages that let you only pay for what you need, as well as preset packages. Here's what you should know.