CNBC's Susan Li reports on American Express after-hours, including what CFO Jeffrey Campbell had to say on the earnings conference call. The "Fast Money" traders weigh in.
The company gave fiscal 2017 guidance that was more optimistic than analyst expectations, but missed on earnings per share.
NEW YORK— American Express' fourth-quarter profit fell 8 percent from the same period a year earlier, hurt by the loss of the Costco credit card business and higher expenses to retain customers. AmEx is in transition following the loss of the Costco credit card business in 2016. Before this happened, Costco represented a sizeable portion of American Express'...
Jan 19- American Express Co's quarterly profit fell 8.2 percent as the credit card issuer boosted spending on marketing and promotion to fend off rising competition. Net income attributable to common shareholders fell to $825 million, or 88 cents per share, in the fourth quarter ended Dec. 31, from $899 million, or 89 cents per share, a year earlier.
NEW YORK— Hotelier and real estate developer Ian Schrager says his presidential pardon will bring important closure for him and his family. Schrager spoke to The New York Times about the pardon he received Tuesday from President Barack Obama. Schrager recalled driving to Virginia to get a credit card because banks in New York wouldn't do business with him.
The start of the new year feels like a financial clean slate— right up until your credit card bills arrive. It's easy to forget about the entertainment and travel you enjoyed, the food and drink you consumed or the store card you applied for at the cash register. "It sounds unromantic, but if you haven't opened it, return it," says Carrie Rocha, who blogs at Pocket Your...
LONDON, Jan 18- Britain's competition watchdog said on Wednesday that Mastercard has proposed a series of measures that should alleviate its concerns about the credit card giant's takeover of payments processing company VocaLink. The Competition and Markets Authority said earlier this month that it was worried the deal could lead to the combined group...
Todd Gordon of TradingAnalysis.com sees another way to play the financial rally.
The tech giant launches a new rewards credit card for Prime members that combines 5% back with other perks.
Amazon now offering a rewards-based credit card to Prime subscribers with 5% back rewards, USAToday reports.
Anton Schutz, Mendon Capital, discusses how the "healthier consumer" will translate to overall financial growth.
WASHINGTON, Jan 10- The U.S. Supreme Court on Tuesday struggled over how to decide a challenge to a state law barring retailers from charging more to buy with credit instead of cash, debating whether it merely regulates prices or violates merchants' constitutional rights. The eight justices heard an hour of arguments in an appeal brought by merchants to a lower...
WASHINGTON— The price of a New York pastrami sandwich could help the Supreme Court figure out a dispute over a state law about credit card swipe fees. New York is among 10 states that regulate how businesses can pass the fees along to customers. New York merchants can offer discounts from the published price for people who pay in cash.
WASHINGTON, Jan 10- The U.S. Supreme Court on Tuesday struggled over how to decide a challenge to a New York state law barring retailers from imposing surcharges on customers who make purchases with a credit card instead of cash. The court heard a one-hour argument in an appeal filed by a group of merchants to a 2015 ruling by the New York- based 2nd U.S. Circuit Court...
Oppenheimer forecasts American Express' corporate tax rate will fall to 28 percent in 2018 from 35 percent.
Total borrowing in November climbed $24.5 billion, compared to a smaller $16.2 billion in October, the Federal Reserve reported Monday. The acceleration reflected a big jump in the category that covers credit card debt, which rose $11 billion, compared to a much smaller $2.4 billion increase in October. Growth in the category that covers auto loans and student...
JPMorgan Chase is cutting the generous introductory offer on its Sapphire Reserve card in half. Here's what to do now.
Run your spending patterns through the website creditcardtuneup.com to compare with leading rewards cards results, reports NYT.
RBC says MasterCard's pricing model means it could see a big jump in profits if inflation rises.
The bank offered a sign-up bonus worth $1,500 to people who spent $4,000 on the card in the first three months.