Rochester,NY 7/2/2009 11:52:59 PM
Afternoon Movers - AXP- Dow Watch: Tumbleweeds and Tourists - Sourced WhisperFromWallStreet.com
American Express Company
Afternoon Movers - AXP- Dow Watch: Tumbleweeds and Tourists - Sourced WhisperFromWallStreet.com
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American Express Company,AXP
After Hours: 22.59 Down 0.41 (1.78%) 12:45PM ET
The Dow halved its gains, but still managed to finish higher on the day. As I said in an earlier update, a 100-point gain on the blue chip index would be a surprise, considering the fact that the government will post its nonfarm payrolls report Thursday.
As Friday is a market holiday, it'll be worth keeping an eye on volume Thursday, considering everyone will be rushing out the door for the beach. Volume has petered out as the short week has crawled along. At 3 p.m. EDT today, volume was about 13% lower than it was on Tuesday. At this rate, tumbleweeds and tourists will be all that remain on Wall Street at 3 p.m. EDT tomorrow.
Only six Dow stocks finished in the red Wednesday, lead by a decline in financial stocks like American Express (AXP Quote), Bank of America (BAC Quote) and JPMorgan Chase (JPM Quote). As mentioned earlier, Pfizer (PFE Quote) was another laggard.
On the positive side, Kraft (KFT Quote) and Intel (INTC Quote) were the top performers, adding 5% and 3%, respectively.
About
American Express Company, a payments and travel company, provides charge and credit payment card products, and travel-related services worldwide. It operates in two groups, the Global Consumer Group and the Global Business-to-Business Group. The Global Consumer Group offers a range of products and services, including charge and credit card products, consumer travel services, and stored value products, such as Travelers Cheques and prepaid products. The Global Business-to-Business Group provides business travel, corporate cards, and other expense management products and services; network services; and merchant acquisition, and merchant processing, point-of-sale, servicing and settlement, and marketing products and services for merchants. The company also publishes luxury lifestyle magazines. American Express sells its products and services to various customer groups, including consumers, small businesses, middle-market companies, large corporations, and banking and financial institutions through various channels, such as direct mail, Internet, employee and independent third party sales forces, and direct response advertising. American Express was founded in 1850 and is headquartered in New York, New York.
Last Trade: 22.68
Day's Range: 22.40 - 22.80
52wk Range: 9.71 - 42.50
Volume: 6,031,575
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