Prev Arrow Stocks

American Express Company ($AXP) Stock Forecast: Down 5.2% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is American Express Company?

American Express (AXP) Market Movement: Bearish American Express (AXP) is a multinational financial services corporation known for its credit card services. Despite reporting strong profits and increased cardmember spending, the stock experienced a bearish movement in the market today.

Why is American Express Company going down?

AXP stock is down 5.2% on Jul 19, 2024 15:22

  • 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.

AXP Price Chart

AXP News

American Express profits soar 39% as cardmembers continue to spend despite inflation

Last quarter, Amex customers spent a total of $440.6billion on their cards, marking a 3% increase from the previous year

https://www.mirror.co.uk/money/american-express-profits-soar-39-33283582

News Article Image American Express profits soar 39% as cardmembers continue to spend despite inflation

American Express Slips Despite Profit Beat, Raised FY Projections

American Express posted better second-quarter profit than analysts had expected Friday, but also joined a string of recent banks reporting quarterly drops in net interest income.

https://www.investopedia.com/american-express-slips-despite-profit-beat-raised-fy-projections-8680632

News Article Image American Express Slips Despite Profit Beat, Raised FY Projections

Dow Tumbles Over 100 Points; American Express Earnings Beat Views

U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 100 points on Friday. Following the market opening Friday, the Dow traded down 0.32% to 40,532.98 while the NASDAQ rose 0.14% to 17,895.95. The S&P 500 also rose, gaining, 0.17% to 5,553.92. Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Real Estate Stocks Delivering High-Dividend Yields Leading and Lagging Sectors Communication services shares jumped by 1% on Thursday. In trading on Thursday, energy shares fell by 0.6%. Top Headline American Express Co (NYSE: AXP ) reported better-than-expected earnings for its second quarter on Friday. The company''s second-quarter revenue (net of interest expense) grew 8% year-on-year to $16.33 billion, slightly missing the analyst consensus estimate of $16.59 billion. Adjusted EPS of $3.49 beat the analyst consensus estimate of $3.26. For FY24, Amex reiterated revenue growth of 9% – 11% or $65.96 billion – $67.17 billion (versus consensus of $66.41 billion).

https://www.benzinga.com/news/24/07/39860295/dow-tumbles-over-100-points-american-express-earnings-beat-views

News Article Image Dow Tumbles Over 100 Points; American Express Earnings Beat Views

The slowdown in consumer spending is spreading upward, says UBS'' Erika Najarian

Erika Najarian, UBS head of U.S. banks and consumer finance equity research, joins ''Squawk Box'' to break down American Express'' quarterly earnings results.

https://www.cnbc.com/video/2024/07/19/the-slowdown-in-consumer-spending-is-spreading-upward-says-ubs-erika-najarian.html

News Article Image The slowdown in consumer spending is spreading upward, says UBS'' Erika Najarian

AXP Earnings: American Express Shares Dip Despite Raised FY24 Earnings Forecast

American Express ($AXP) slid in pre-market trading even as the company raised its FY24 forecast. The payments processing giant now expects FY24 ear…

https://www.tipranks.com/news/axp-earnings-american-express-shares-dip-despite-raised-fy24-earnings-forecast

News Article Image AXP Earnings: American Express Shares Dip Despite Raised FY24 Earnings Forecast

American Express Company Price History

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 5.5%

  • 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 5.4%

  • 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 5.0%

  • 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.

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.

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 1.9%

  • 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.

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.

29.00.2024 - AXP Stock was up 6.9%

  • American Express (AXP) had a strong bullish movement today, possibly driven by the following factors:
  • 1. Positive earnings: American Express posted record revenues and robust growth in Q4, indicating strong financial performance.
  • 2. Regulation FD disclosure: The company released an update regarding a regulation FD disclosure, which may have instilled confidence in investors.
  • 3. Analyst ratings: While not directly related to American Express, top Wall Street analysts changed their outlook on various top names, which could have influenced market sentiment positively.
  • Overall, the combination of positive earnings, regulatory transparency, and favorable analyst ratings likely contributed to the bullish movement of American Express (AXP) today.

27.00.2024 - AXP Stock was up 6.9%

  • The bullish movement in the stock of American Express (AXP) today can be attributed to the following factors:
  • 1. Strong financial performance: The release of the company's Q4 and annual financials, as mentioned in an article from TipRanks and an article from Investing.com, highlighted record revenues and robust growth. This positive earnings report likely boosted investor confidence and contributed to the bullish movement.
  • 2. Positive market sentiment: The earnings call transcript mentioned in an article from Seeking Alpha and an article from The Motley Fool may have provided further insights into the company's performance, potentially revealing positive outlooks and strategies discussed during the call. This could have generated optimism among investors and contributed to the bullish movement.
  • 3. Sector momentum: The mention of American Express having the best technicals among credit card stocks in an article from CNBC suggests that the overall credit card sector may be experiencing positive momentum. This sector-wide strength could have influenced the bullish movement in American Express stock.
  • Overall, the combination of strong financial performance, positive market sentiment from the earnings call, and sector momentum likely contributed to the bullish movement in American Express stock today.

20.09.2023 - AXP Stock was down 5.1%

  • American Express reported better-than-expected earnings for the third quarter, with revenue growing 12% year-on-year. However, despite the positive earnings, the stock experienced a bearish movement.
  • The overall market sentiment was also bearish, with the Dow Jones index falling around 50 points and the NASDAQ and S&P 500 also experiencing declines.
  • The demand for new accounts from younger customers, particularly millennials and Gen Z, was highlighted as a positive factor for American Express. However, this did not prevent the bearish movement in the stock.
  • It is possible that the bearish market movement for American Express was influenced by broader market trends and investor sentiment, rather than specific news related to the company itself.

20.09.2023 - AXP Stock was down 4.1%

  • The bearish movement in AXP's stock today could be attributed to the following factors:
  • 1. Rising credit loss provision: The increase in credit loss provision mentioned in an article from Seeking Alpha may have raised concerns among investors about potential defaults or delinquencies, leading to a negative sentiment towards the stock.
  • 2. Market conditions: The overall market sentiment, as indicated by an article from Zero Hedge, was negative, with global stocks dipping and futures sliding. This broader market decline could have influenced AXP's stock movement.
  • 3. Mixed earnings report: While an article from Investing.com highlights record earnings for American Express, it also mentions falling European demand for Solaredge, which could have created uncertainty about the company's future growth prospects.
  • 4. Market expectations: an article from Benzinga mentions that American Express beat revenue and profit growth expectations for Q3. However, it's possible that the market had higher expectations, leading to a sell-off in the stock.
  • Overall, the bearish movement in AXP's stock today could be attributed to concerns about credit losses, negative market sentiment, mixed earnings report, and potentially high market expectations.

21.06.2023 - AXP Stock was down 4.2%

  • American Express stock slid 3% after posting smaller-than-expected revenue for the previous quarter, despite beating earnings per share expectations. This disappointing revenue performance likely contributed to the bearish movement.
  • The company reported second-quarter earnings of $2.89 per share on revenue of $15.05 billion, falling short of analysts' expectations.
  • The market may have reacted negatively to the revenue miss, indicating concerns about the company's ability to generate sufficient growth.
  • The bearish movement could also be influenced by the broader market sentiment, as the article mentions a tech rout and a rebound in futures after a selloff.
  • Overall, American Express experienced a bearish movement today, primarily driven by disappointing revenue results and potentially influenced by broader market factors.
i
Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.