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
Top Gaining Stocks
Top Losing Stocks