Hot Stock American Express has dismal fourth quarter. Wall Street Grand LLC, a leading investor newsletter is pleased to announce to the investment community and Wall Street Grand members market moving news About Hot Stock American Express. American Express trades on New York Stock Exchange under the symbol AXP. To learn more about AXP make sure to visit our exclusive website http://www.wallstreetgrand.com/.
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American Express Shares fell Friday after the credit card company claimed their revenue was essentially flat in the final three months following 2010.
Shares of AmEx, which traditionally caters to a more affluent clientele, lost $3.12, or 7.4 percent, at $39.04.website and become a member today at
AmEx posted a fourth-quarter profit on Thursday that beat analysts expectations. The jump came primarily because of a hard fall in the company's provisions for loan losses. That figure fell from $1.4 billion last year , to $748 million. Which is a 47 percent drop.
On the other hand, Quarterly revenue fell from $6.51 billion last year to $6.49 billion .
What also came along with the slide in the AmEx shares on Friday was a broader pullback in the markets amid uncertainty about President Barack Obama's plans to restrict big banks. The Dow was down over 100 points in afternoon trading.
According to AmEx Chairman Kenneth Chenault the company still faces the challenges of high unemployment rates and weaker household finances
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