Expectations for American Express’s (AXP) earnings were less than modest. Analysts polled by Thomson Reuters, on average, forecast earnings of $.59 for the quarter. Friedman, Billings, Ramsey reported that American Express reported…
Douglas A. McIntyre According to Reuters, a number of retailers are cutting back holiday hiring as they anticipate lower sales. Reuters reports that GM’s (GM) interest in Chrysler’s cash is helping move a merger forward.…
The credit crisis has been so severe that even the largest companies in the US have had trouble getting access to the capital markets. Firms as large as GM (GM), Goodyear, and…
American Express (NYSE: AXP), whose stock is trading at 5-year lows, today tried to reassure Wall Street about its financial situation. It said that this year it has increased its surplus capital…
Douglas A. McIntyre Updated: 31 October 2008 Not all companies and industries will be hit equally hard by the consumer credit crisis. Operations such as Procter & Gamble (PG), McDonald’s (MCD), and Wal-Mart (WMT) may…
Frankly, we think the ban on short sales is not the right way to run a free market. But it doesn’t matter what we think. These are the new rules, but they…
This morning there was a rather long CNBC interview where Becky Quick got to interview Berkshire Hathaway’s (NYSE: BRK-A) Warren Buffett live in Omaha. He noted specifically that the economic weakness was…
The AP announced its list of the top 10 paid CEOs for 2007. The figures were based on "AP’s compensation formula, which adds up salary, perks, bonuses, above-market interest on pay set…
So far there are some changes seen in the holdings of Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK-A). We have consolidated these into groups and this group is from A to…
Wall St. cheered what seemed to be withering results from Washington Mutual (WM) and Wachovia (WB). WaMu lost $3.3 billion and reserved $3.7 billion to handle loan losses. Wachovia lost $9 billion…
While Wall St. was fixated on Apple’s (AAPL) numbers and the health outlook for Steve Jobs, American Express (AXP) slipped through the side door with some frightening numbers. Apple’s earnings said something…
According to Reuters, Apple (AAPL) missed Wall St. expectations, sending the stock down by 10%. Reuters reports that American Express (AXP) profits fell on credit losses.
American Express (NYSE: AXP) just posted $0.56 EPS on $7.484 Billion in revenues, although we would note that there are items in these results from continuing operations. First Call had estimates of…
Douglas A. McIntyre These are some of the top analyst calls for the financial services group we have seen in the early hours of trading this Tuesday morning: American Express (NYSE: AXP) raised to Neutral…
MasterCard Incorporated (NYSE: MA) has just announced it has reached an agreement to settle its outstanding litigation with American Express (NYSE: AXP). The company says the tax-affected net present value of the…