Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
American Express is trading at $91.84, and the stock is up 5% since its first-quarter earnings for 2014 in mid-April were released. Even though its revenue failed to meet estimates, traders reacted well to the better-than-expected EPS of $1.33.
US consumer confidence has been positive over the past few months; however, American Express has been under pressure since Visa revealed an 11% increase in quarterly profits, but lowered its full-year forecast. Visa cited a drop in transactions between Russia and Ukraine with the eurozone as the reason for cutting its outlook.
Year-to-date, American Express is up 1%, the S&P 500 is up 7% and Visa is down 3.8%. Since traders’ expectations have been lowered by Visa’s update, it could create a buying opportunity for American Express.
The stock is receiving support at $89.41, and if the results are positive the company could target $95.