American Express beats 2Q profit expectations, misses revenue forecasts

In addition to stepped up competition from its rivals, the New York-based company must contend with the loss of its lucrative 16-year partnership with Costco Wholesale Corp. and a USA legal ruling that upends AmEx’s long-standing rules that don’t permit merchants to steer customers to other forms of payment-a decision American Express has said it plans to appeal. 4,236,117 shares of the company’s stock traded hands. In comparing the stock’s current level to its extended history, the stock is trading -16.99% away from its 52-week high of 94.89 and +3.99% away from the stock’s low point over the past 52 weeks, which was 75.75.

The company also ended a deal with JetBlue Airways (JBLU.O). Shareholders of record on Thursday, July 2nd will be given a dividend of $0.29 per share. They lost another 0.16% to reach $78.82 as of 7:55 PM EDT yesterday.

Now the company Insiders own 0.2% of American Express Company Company shares. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Sample sold 4,317 shares of the stock in a transaction that occurred on Tuesday, May 26th.

As of 3:38 PM EDT, Qualcomm stock was trading 2.01% down at $62.90, following a revenue miss. The disclosure for this purchase can be found here. (TRS), are bank holding companies. 2 analysts have suggested buy for the shares. Finally, analysts at Nomura reiterated a “neutral” rating on shares of American Express Company in a research note on Thursday, June 18th.

American Express Company (NYSE:AXP): The mean short term price target for American Express Company (NYSE:AXP) has been established at $85.56 per share. (AXP) is primarily engaged in the business of providing travel related services, financial advisory services, and worldwide banking services throughout the world. A strong USA dollar weighed on the company’s global operations once again.

AmEx gets about a sixth of its card services revenue from outside the United States.

The credit card issuer beat estimates on its top line. Steve Squeri was named vice chairman, overseeing small business initiatives and the firm’s enterprise-growth unit as well as corporate payments and global services. GNMS operates a global payments network, which processes and settles proprietary and non-proprietary card transactions.