ADVFN - Advanced Financial Network.
HOME» NYSE » A » AXP Stock Price » AXP Stock News

American Express Share News

 American Express Co. Stock Price
AXP Stock Price
 American Express Co. Stock Chart
AXP Stock Chart
 American Express Co. Stock News
AXP Stock News
 American Express Co. Company Information
AXP Company Information
 American Express Co. Stock Trades
AXP Stock Trades

S&P Raises American Express Subsidiary Ratings

By Andrew R. Johnson Standard & Poor's raised its long-term issuer ratings for American Express Co.'s (AXP) core operating subsidiaries by one notch, citing the credit-card lender's strong performance during the credit crisis. American Express, the largest U.S. credit-card lender by spending, recovered from the financial crisis more quickly than its peers thanks in part to its focus on affluent borrowers. The company focuses on issuing credit and charge cards to borrowers with pristine credit, generating revenue largely from fees it charges merchants for accepting those cards and fees customers pay. S&P raised its ratings on American Express' operating subsidiaries to A- from BBB+ Wednesday. It also affirmed its A-2 short-term issuer ratings on the subsidiaries and its BBB+/A-2 issuer ratings on its non-operating holding company. "The company did not post any quarterly losses during the credit crisis and its recent earnings were strong," S&P credit analyst John Bartko said in a statement. S&P has the long-term ratings on "stable" outlook, reflecting the lender's "positive customer spending trends" and strong performance, though it takes into account the "fragile state of the U.S. economic recovery" and more regulatory pressure. While delinquency and net charge-off rates are near historic lows for many credit-card lenders, American Express has seen some of the lowest rates in the industry. The company faces headwinds this year as payments from Visa Inc. (V) and MasterCard Inc. (MA) from a past settlement have ended and delinquencies potentially edge up, putting more pressure on expense control. American Express' shares were down 2.5% at $53.98 in after-hours trading Wednesday after closing up 2.6%. Its shares are up more than 17% for the year. -Write to Andrew R. Johnson at andrew.r.johnson@dowjones.com

Stock News for American Express (AXP)
DateTimeHeadline
07/02/201514:45:22Statement of Changes in Beneficial Ownership (4)
07/02/201514:42:41Statement of Changes in Beneficial Ownership (4)
07/02/201514:39:57Statement of Changes in Beneficial Ownership (4)
07/02/201514:36:17Statement of Changes in Beneficial Ownership (4)
07/02/201514:33:38Statement of Changes in Beneficial Ownership (4)
07/02/201514:28:41Statement of Changes in Beneficial Ownership (4)
07/02/201514:23:51Statement of Changes in Beneficial Ownership (4)
06/30/201519:00:08MasterCard Stops Processing Purchases of Backpage.com Ads
06/30/201510:50:00A Haven on the Go: American Express Opens THE CENTURION® Studio...
06/29/201506:02:04Annual Report of Employee Stock Plans (11-k)
06/26/201509:45:00American Express Plans Live Audio Webcasts of Second Quarter...
06/25/201511:20:44Correction to American Express Story From June 24
06/24/201514:20:29American Express Names Squeri Vice Chairman
06/24/201514:05:36American Express Names Squeri Vice Chairman
06/24/201512:31:00Organization Announcement: American Express
06/20/201507:02:02Are AMEX Points a Good Deal? The Pros and Cons of Membership...
06/19/201509:10:14AmEx to Stop Merchant Curbs
06/15/201512:05:55Current Report Filing (8-k)
06/11/201510:00:00American Express Helps Golf Fans Get into the Swing of the Mind...
06/10/201510:31:43Amended Statement of Ownership (sc 13g/a)

American Express and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad