|Bid||131.52 x 1800|
|Ask||131.79 x 800|
|Day's range||130.79 - 131.86|
|52-week range||98.46 - 131.86|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||15.89|
|Earnings date||23 Jan 2020|
|Forward dividend & yield||1.72 (1.32%)|
|Ex-dividend date||31 Dec 2019|
|1y target est||133.08|
American Express (AXP) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
With most blue-chip companies' earnings scheduled over the coming weeks and sentiments being mixed, investors should closely monitor the movement of the Dow ETF.
The Zacks Analyst Blog Highlights: SL Green Realty, American Express, Hill-Rom, Invesco and LPL Financial
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The biggest U.S. card companies just moved a step closer to gaining access to China’s $27 trillion payments market.China said it won’t take longer than 90 days to consider applications from providers of electronic-payments services such as Mastercard, Visa and American Express Co., according the text of a landmark trade agreement with the U.S. It should be an especially welcome reprieve for Mastercard and its partner NetsUnion Clearing Corp., which set up a venture in March that is still awaiting approval from the People’s Bank of China to begin operations.“China is a vital market for us,” Seth Eisen, a spokesman for Mastercard, said Wednesday in an emailed statement. “We continue to make every effort to secure the requisite license to be able to operate in China domestically. This deal is a step forward in that process.”The move shows progress in the U.S. payment networks’ battle for access to mainland China, which has been a point of contention in the trade dispute. Officials from the world’s two largest economies finalized a bevy of deals before signing off on the first phase of a sweeping trade agreement, which they have sought to cast as a major breakthrough in relations.Mastercard Chief Executive Officer Ajay Banga and Visa CEO Al Kelly were in attendance at Wednesday’s festivities at the White House for the trade deal announcement. In a statement, Visa said it sees potential to help further develop digital payments in China through the 2022 Olympics in Beijing and that it’s approaching entry into the country “with a long-term focus.”“Visa is working closely with the Chinese government, including the People’s Bank of China, throughout the application process for a bank card clearing institution license,” the company said in the statement, welcoming the signing of the trade agreement.China in June 2015 allowed foreign bank-card clearing providers to obtain licenses by setting up units or acquiring a local company, ending a monopoly by state-run China UnionPay Co. But progress has since been slow for Visa and Mastercard, the world’s largest payment networks. American Express cleared a key hurdle in early January when regulators accepted its application to start a bank-card clearing business with a Chinese partner.“We’re pleased with the progress we’re making to become the first foreign network to receive a clearing and settlement license to operate in mainland China,” Leah Gerstner, a spokeswoman for AmEx, said in a statement. “We will continue to work through the regulatory approval process through our joint venture in China.”As part of Wednesday’s agreement, the U.S. also pledged not to discriminate against China UnionPay, or CUP, or other Chinese electronic payment services.Mastercard and Visa have long complained that their delayed entrance into China means they’ll be pitting themselves against large domestic players in a market that’s seen mobile payments explode in recent years. Mobile transactions topped 190 trillion yuan ($27 trillion) in China in 2018, making it the world’s largest such market, according to iResearch. Ant Financial’s Alipay and Tencent Holdings Ltd.’s WeChat Pay are the dominant mobile payments firms.They won’t be starting from nothing. Mastercard and Visa have long worked with Chinese banks to slap their brands on cards to facilitate transactions that consumers make outside China. But Wednesday’s announcement means the networks will now have a chance to compete for those cardholders’ domestic spending as well.China had 8.2 billion bank cards in circulation at the end of September, with 90% of them debit cards.(Updates with Visa comment in sixth paragraph, AmEx comment in eighth.)\--With assistance from Jenny Surane and David Scheer.To contact Bloomberg News staff for this story: Lucille Liu in Beijing at firstname.lastname@example.orgTo contact the editors responsible for this story: Candice Zachariahs at email@example.com, ;Alan Goldstein at firstname.lastname@example.org, Jonas Bergman, Dan ReichlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Extending its last year's rally, Dow Jones touched 29,000 for the second time in three days, suggesting strong complacency in the market.
The Zacks Analyst Blog Highlights: JPMorgan Chase, Johnson & Johnson, American Express Company, NIKE and Apple
There has been a particularly sharp run-up in blue-chip stocks. These companies are slated to see gains as they have strong balance sheet and solid cash flow.
American Express (AXP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Dow finance stocks - JPM, GS, V, AXP - are expected to continue witnessing bullish investor sentiments as several favorable factors bode well for earnings growth this year.
(Bloomberg) -- American Express Co. cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business.The People Bank of China made the announcement on its official Wechat account Wednesday, without giving more details. The decision to accept the application signals that it’s moving closer to final approval.AmEx in November 2018 became the first foreign company to win permission to start preparation for the business after forming a joint venture with LianLian, a Chinese fintech-services firm.The latest move shows progress in U.S. payment networks’ battle for access to mainland China, which has been a point of contention raised in the trade dispute with the U.S. China on Thursday announced Vice Premier Liu He will travel to Washington to sign the first phase of the trade deal with the U.S. on Jan. 15, confirming a ceremony announced by President Donald Trump.China in June 2015 allowed foreign bank-card clearing providers to obtain licenses by setting up units or acquiring a local company, ending a monopoly by state-run China UnionPay Co. But progress in entering China has been slow for Visa Inc. and Mastercard, the world’s two biggest payment networks, with neither firm as of yet obtaining approval.The Communist Party ruled country is opening up its financial markets this year to allow foreign firms to set up fully owned operations to run insurance businesses, asset management and investment banking. BlackRock Inc. and Goldman Sachs Group Inc. are among a bevy of firms that are preparing to pile in full bore to capture profits from China’s fast growing wealth.China had 8.2 billion bank cards in circulation at the end of September, with 90% of them debit cards.AmEx will pit itself against large domestic players and a well-developed market for mobile payments. Mobile transactions topped 190 trillion yuan ($27 trillion) in China in 2018, making it the world’s largest such market, according to iResearch. Ant Financial’s Alipay and Tencent Holdings Ltd.’s WeChat Pay are the dominant firms.(Adds details on trade talks in fourth paragraph.)To contact Bloomberg News staff for this story: Jun Luo in Shanghai at email@example.comTo contact the editors responsible for this story: Candice Zachariahs at firstname.lastname@example.org, Jonas BergmanFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Wall Street's bull-run in 2019 halted on Jan 3 after the U.S. airstrikes in Iran killing its military general Qasem Soleimani. However, market recovered the next trading day on Jan 6.
American Express Company (NYSE:AXP) saw a double-digit share price rise of over 10% in the past couple of months on...
Today, American Express (NYSE: AXP) and MAG USA announced the opening of The Centurion Lounge and Escape Lounge at Phoenix Sky Harbor International Airport (PHX). With Phoenix Sky Harbor International Airport welcoming more than 44 million passengers each year, the two unique spaces will provide Platinum Card® and Centurion Members with more options and premium amenities as they travel through Phoenix.
Buoyancy in online sales and strong business fundamentals fuel the rally in the payment stocks, which is likely to sustain going forward.
PayPal Holdings (PYPL) recently completes the purchase of a 70% stake in GoPay. This deal makes PayPal the first foreign firm to offer domestic electronic payments in China.