Banking, finance, and taxes

Will American Express Earnings Depress Or Show Excess? (AXP)

We’va already been warned that this quarter was going to be a miserable one, but today is the awaited earnings from American Express (NYSE: AXP). As this is a DJIA component and as this one has what is thought of as the highest credit scoring for consumers, this news can still run-off into many other financial companies large and small.

First Call has estimates pegged at $0.71 EPS and $7.85 billion in revenues.  Next quarter’s estimates are $0.85 EPS and $7.28 billion in revenues; if the company offers 2008 targets, those estimates are $3.49 EPS and $30.72 billion in revenues.

Analysts still have a price target on American Express Company with an average of $56.15.  Even after the company already signaled much of the quarter, options traders appear to be braced for a move of $2.50 in either direction.  This chart has been an ugly one but at least has bounced since the FOMC made its emergency intervention last week.  The 52-week trading range is $41.15 to $65.89, and the pattern over the last 5-days has been in a $44 to $48 trading range.

With about 90 minutes to the close, American Express shares are up 2.8% to $46.73.

Jon C. Ogg
January 28, 2008

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today.  Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.