American Express Company ($AXP) Stock Forecast: Down 5.1% Today

What is American Express Company?

American Express (NYSE: AXP) is a multinational financial services corporation known for its credit card, charge card, and traveler's cheque businesses. The stock had a strong bearish movement today.

Why is American Express Company going down?

AXP stock is down 5.1% on Oct 18, 2024 13:55

• American Express recorded third-quarter revenue growth of 8% year-on-year fueled by increased Card Member spending and higher net interest income. The revenue slightly missed analyst estimates, potentially impacting the bearish movement.
• Despite initial investor optimism and positive signals preceding earnings, analysts' restrained outlook could have affected the stock's performance.
• The fluctuating activity in U.S. stock futures and investor interest in other companies like Netflix might have shifted attention from American Express, potentially contributing to the bearish movement.
• The market response to American Express' earnings announcement and the general investor sentiment toward the stock likely influenced today's bearish movement.

AXP Price Chart

AXP Technical Analysis

AXP News

American Express Q3 Earnings: Profit Beats Estimate, Card Spending Grows, Revises Annual Outlook - American Express ( NYSE:AXP )

American Express Co's AXP third-quarter revenue ( net of interest expense ) grew 8% year-on-year to $16.64 billion, marginally missing the analyst consensus estimate of $16.67 billion. The increase was primarily due to higher net interest income, increased Card Member spending, and continued ...

https://www.benzinga.com/news/earnings/24/10/41400722/american-express-q3-earnings-profit-beats-estimate-card-spending-grows-revises-annual-outlook

Netflix, American Express And 3 Stocks To Watch Heading Into Friday - Netflix ( NASDAQ:NFLX )

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows: Wall Street expects American Express Company AXP to report quarterly earnings at $3.28 per share on revenue of $16.67 billion before the opening bell, according to ...

https://www.benzinga.com/news/earnings/24/10/41396995/netflix-american-express-and-3-stocks-to-watch-heading-into-friday

Check Out What Whales Are Doing With AXP - American Express ( NYSE:AXP )

Whales with a lot of money to spend have taken a noticeably bullish stance on American Express. Looking at options history for American Express AXP we detected 32 trades. If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish ...

https://www.benzinga.com/insights/options/24/10/41385021/check-out-what-whales-are-doing-with-axp

American Express Shows Bullish Signals Ahead Of Q3 Earnings, But Analysts Hold Back - American Express ( NYSE:AXP )

American Express Co AXP will be reporting its third-quarter earnings on Oct. 18. Wall Street expects $3.80 in earnings per share and $16.67 billion in revenues as the company reports before market hours. The stock is up 84.29% over the past year, 51.1% year-to-date.

https://www.benzinga.com/news/earnings/24/10/41382894/american-express-shows-bullish-signals-ahead-of-q3-earnings-but-analysts-hold-back

Allstate Acquires Kingfisher, Enhances Mobile Industry Offerings

ALL's acquisition of Kingfisher bodes well. The acquisition aids in the enhancement of the company's Protection Plans offerings for smart devices.

https://www.zacks.com/stock/news/2350978/allstate-acquires-kingfisher-enhances-mobile-industry-offerings

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American Express Company Price History

06.08.2024 - AXP Stock was down 1.3%

• The decrease of -1.68% in American Express (AXP) stock could be attributed to the prevailing negative market sentiment.
• Concerns emerged regarding the RBI's prohibition on exclusive agreements with card networks, potentially impacting American Express' business model and partnerships.
• Despite being a key entity in Warren Buffet's portfolio, broader economic uncertainties likely triggered the bearish movement in AXP stock.

18.09.2024 - AXP Stock was down 5.1%

• American Express recorded third-quarter revenue growth of 8% year-on-year fueled by increased Card Member spending and higher net interest income. The revenue slightly missed analyst estimates, potentially impacting the bearish movement.
• Despite initial investor optimism and positive signals preceding earnings, analysts' restrained outlook could have affected the stock's performance.
• The fluctuating activity in U.S. stock futures and investor interest in other companies like Netflix might have shifted attention from American Express, potentially contributing to the bearish movement.
• The market response to American Express' earnings announcement and the general investor sentiment toward the stock likely influenced today's bearish movement.

19.03.2024 - AXP Stock was up 5.0%

• AXP stock exhibited a notable bullish trend recently.
• AXP released strong Q1 2024 earnings, surpassing both EPS and revenue projections.
• The impressive earnings reinforced investor confidence in the company's handling of the credit cycle.
• The stock's positive performance was a factor in boosting the Dow, in contrast to the Nasdaq which was affected by various elements such as Netflix and chip stocks experiencing declines.

04.03.2024 - AXP Stock was down 1.2%

• The bearish movement in AXP could be attributed to investors shifting away from high-flying tech stocks and focusing more on steady blue-chip investments.
• The undervalued growth stocks highlighted might have attracted investors away from established companies like American Express, impacting its stock price negatively.
• Speculation around other stocks rallying could have diverted attention and investment away from AXP, leading to the bearish movement.
• The emphasis on dividend stocks might have steered investors towards other opportunities, causing a dip in AXP's stock price as dividend stocks gained more attention.

19.03.2024 - AXP Stock was up 5.0%

• American Express (AXP) experienced a strong bullish movement today.
• The robust Q1 earnings report, surpassing expectations with increased member spending, likely contributed to the bullish market movement.
• The jump in profits by 34% was fueled by higher spending from new customers and interest income growth, showcasing the company's ability to attract high-quality customers despite challenges.
• The mix of positive earnings results and increased member spending overshadowed the bearish options trends observed, indicating strong investor confidence in American Express's resilience and performance.

04.03.2024 - AXP Stock was down 1.9%

• The bearish movement in American Express (AXP) stock today could be attributed to concerns about inflation, high interest rates, and supply-chain issues affecting small businesses, which may impact the company's revenue and profitability.
• The introduction of the enhanced metal Corporate Platinum Card by American Express may have been overshadowed by worries about the broader economic challenges, leading to a negative sentiment among investors.
• The emphasis on steady blue-chip stocks in the market may have diverted attention away from growth stocks like American Express, causing a shift in investor preferences and contributing to the bearish trend in AXP stock.
• The mention of American Express in the Zacks Analyst Blog could have also influenced market sentiment, with investors possibly reacting to the overall tone of the blog post regarding the company's performance and prospects.

19.06.2024 - AXP Stock was down 5.2%

• American Express reported a 39% increase in profits and a 3% rise in cardmember spending, indicating strong performance.
• However, the stock slipped despite beating profit expectations, possibly due to concerns over a drop in net interest income.
• The overall market sentiment, with the Dow Jones falling over 100 points, might have contributed to the bearish movement in AXP shares.
• Analysts discussing the slowdown in consumer spending could have also impacted investor confidence in American Express, leading to the stock's decline.

19.06.2024 - AXP Stock was down 5.4%

• American Express Co (AXP) reported Q2 earnings with adjusted EPS beating estimates but revenue falling short, leading to mixed investor sentiment.
• Despite CEO raising annual profit and marketing spend outlook after a profit beat, the stock price initially rose but later gave up gains in the premarket session.
• The focus on card member spending driving profits higher by 39% in the second quarter showcases a positive aspect for the company's future growth.
• The overall market movement could be attributed to the revenue miss and cautious investor reaction despite positive earnings and profit outlook.

19.06.2024 - AXP Stock was down 5.5%

• Despite delivering earnings that beat estimates, American Express saw a bearish movement in its stock.
• The market's reaction to the revenue falling short of expectations, despite the adjusted EPS beating estimates, could have contributed to this trend.
• Concerns over a slowdown in consumer spending, as noted by an analyst, may have impacted the overall sentiment towards American Express.
• Investors' caution about the company's future performance, even with a raised FY24 earnings forecast, could have led to the decline in American Express shares.

19.06.2024 - AXP Stock was down 5.0%

• The decline in American Express (AXP) stock value is likely linked to the anticipation surrounding the company's upcoming quarterly earnings, projected at $3.26 per share with revenue of $16.59 billion.
• Shifts in investor sentiment within the fintech industry could have impacted the perception of traditional financial institutions like American Express, influencing the negative market movement.
• Increased focus on technology-related stocks, particularly in AI and cybersecurity sectors, might have diverted investor interest from established financial entities like American Express, thus affecting its stock performance adversely.
• The prevailing market volatility and uncertain economic landscape could have also played a role in the bearish movement witnessed in American Express stock recently.

02.07.2024 - AXP Stock was down 7.2%

• American Express (AXP) experienced a strong bearish movement today.
• The bearish stance on American Express by high-capital investors in the options market might have contributed to the negative movement.
• Mention of American Express in connection with a probe related to a left-leaning advertising cartel could have raised concerns among investors, leading to a sell-off.
• Despite positive earnings beats reported in the second quarter, the overall sentiment surrounding the company due to the options trends and probe news likely influenced the bearish market movement for American Express.

02.07.2024 - AXP Stock was down 5.5%

• The bearish movement in AXP could be linked to the bearish actions of large investors in the options market.
• Despite the generally positive earnings growth rate for companies on the S&P 500 in Q2, the prevailing bearish sentiment towards AXP may be a result of specific internal or external factors impacting the company.
• While growth stocks across various sectors have been performing well, comparative lack of focus on AXP in contrast to big tech and AI companies could have contributed to the downward pressure on its stock price.
• Ongoing investigations by the House Judiciary Committee into major companies, including American Express, regarding connections to a shadowy ad cartel, could have added uncertainty and negative sentiment among investors, influencing AXP's market performance.