The New York-based American Express Company (NYSE:AXP) announced profit in the second-quarter surpassed analysts’ forecasts as customer spending moved up and the lender declared the industry’s most low default rates.
American Express, the major credit-card issuer by purchases, reported in a statement on Thursday that net income from continuing operations moved up 3.4% to $1.34 billion or $1.15 per share from $1.3 billion or $1.10 per share in previous year. That surpassed the $1.10 median forecasts of 24 analysts estimates gathered by Bloomberg.
The financial company has relied on its base of affluent customers and spent additional to its worldwide payments network to boost up profit even as United States retail sales cooled.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Discover Financial Services (NYSE:DFS) fell -0.68% to settle at $34.93, Capital One Financial Corp (NYSE:COF) moved up +2.70% to end at $56.37 while Mastercard Inc (NYSE:MA) plunged -2.03% to finish on Thursday at $427.94.
American Express Company (NYSE:AXP) on July 19, 2012 decreased -3.53% to the closing price of $56.23. The overall volume in the last trading session was 13.37 million shares. Its fifty two week range was $41.30-$61.42. The total market capitalization remained $64.05 million.
AXP is ahead its 52 week low with 38.15% and going forward from its 52 week high price with 8.13%. AXP last month stock price volatility remained 1.78%. In its share capital AXP has 1.15 billion outstanding shares among them 1.15 billion shares have been floated in market exchange. AXP stock institutional ownership remained 84.50% while insider ownership included 0.20%.
The stock price of AXP is moving down from its 20 days moving average with -2.59% and remote negatively from 50 days moving average with -0.96%. AXP current year earnings per share experienced an addition with 21.97% while its current quarter performance remained -2.00%. Company’s beta coefficient included 1.82. Beta factors measures the amount of market risk associated with market trade.
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