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Don't leave home without your American Express shares

Posted May 4th 2009 11:30AM by Joseph Lazzaro (RSS feed)
Filed under: Earnings reports, American Express (AXP), Stocks to Buy, Visa Inc. (V)

Has American Express turned the corner? Perhaps not, but an intriguing dynamic warrants a review of the company.

American Express (NYSE: AXP) just posted a strong quarterly performance (Q1) relative to extremely low expectations. Excluding the 12-cent, after-tax benefit from MasterCard (NYSE: MA) and Visa (NYSE: V), AXP earned 20 cents per share, versus analysts estimate of 12-18 cents.

Continue reading Don't leave home without your American Express shares

As credit card delinquencies rise, consumers rein-in spending

Posted Feb 8th 2008 12:40PM by Joseph Lazzaro (RSS feed)
Filed under: Forecasts, Consumer experience, Economic data

In a stat that most likely will surprise few economists, credit card delinquencies are increasing in the U.S. -- a sign that the housing sector slump that has displaced thousands of employees is beginning to exact a toll on revolving credit accounts, The Wall Street Journal (subscription required) reported Friday.

The number of credit card accounts at least 60 days delinquent or that had gone into default increased to 7.6% in December 2007, up from 6.4% in December 2006, according to research compiled by RiskMetrics Group, the Journal reported. Further, Americans had $944 billion in total revolving debt in December 2007, which amounts to a seasonally adjusted annual increase of 2.7%, well below the seasonally adjusted growth rates of 13.7% and 11.1% for November 2007 and October 2007, respectively.

Another bubble: credit cards

Economist Glen Langan told BloggingStocks Friday the credit card sector, like the housing sector, is correcting from an unprecedented -- and unsustainable -- growth period.

Continue reading As credit card delinquencies rise, consumers rein-in spending

Symbol Lookup
IndexesChangePrice
DJIA-154.4810,309.92
NASDAQ-37.612,138.44
S&P 500-19.141,091.49

Last updated: November 27, 2009: 10:53 PM

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