American Express Co. fell$. 51 or. 6 percent, to $77.97. Capital One Financial Corp. rose$. 14 or. 2 percent, to $78.65. Discover Financial Services fell$. 23 or. 4 percent, to $56.57.» Read More
American Express, recently approved to become a bank-holding company, is looking for $3.5 billion from the federal government, the Wall Street Journal reported Monday.
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American Express said it won approval to become a bank holding company, in a step that could cut its borrowing costs and give it more access to government money.
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The search for a market bottom likely will continue through the rest of the year and into 2009, as signs emerge that a turning point is not yet upon Wall Street.
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The search of a market bottom likely will continue through the rest of the year and into 2009, as signs begin to emerge that a turning point is not yet upon Wall Street.
American Express reported a profit that fell from last year, but the shares rose in late trading as earnings blew past analysts' estimates.
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