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7 pts

Opinion on  American Express Company (AXP)     Sector: Financial  >  Industry: Consumer Financial Services
Did they tell you Amex was a bank?

Mar 18, 2009 03:35 AM GMT
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Return Risk
+3.40% LOW
Associate

Credit Card Defaults are nearly double of what they were six months ago but Amex is more into travel related services esp as far as the US is concerned. high time it's last 12 months performance were obviated and a fresh start considered. a small bump then to figure out  what 2009 holds for it, may not be too good but this is bad enough!

Amex recession proofing strategies for their customers delivered $2 billion in savings to its corporate customers and with its integrated relationship with IBM likely to deliver more such profits for its customers and itself. Also a very healthy EPS at $2.50

marketwatch.com:
New business acquired reached $3.4 billion and global customer wins increased 172 percent compared to 2007, with a global retention rate of 98 percent(1). The North America Middle-Market client segment experienced a 63 percent year-over-year growth increase, while Advisory Services achieved a 33 percent annual growth rate, globally, in consultative sales. In 2008, American Express reported $25.4 billion in travel sales.


AXP:  This call was made on 03/18/09 @ $12.83
Rating:   Positive   $12.83 (03/18/09)
Gain/Loss:   +220.65% in 248 days


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zyaadakairaada previously rated AXP
Positive +0.00% Bullish on AXP ...
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7
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