Why Investors Were Ditching American Express Stock Today

American Express (NYSE: AXP) stock wasn't putting any investor on the fast track to wealth on Monday. The market continued to be bearish on the credit card company following its Friday morning release of third-quarter results, and news of a bearish new research note didn't help. Ultimately, AmEx's shares closed down by more than 2% on the day, comparing not so favorably to the S&P 500 index's 0.2% dip. AmEx's quarterly performance wasn't bad at all, with decent year-over-year rises in both revenue and profitability. But with the economy being as frothy as it is, both analysts and investors were expecting more, as the company's top line came in below the former's consensus estimate. After all, AmEx's cardholders tend to be relatively affluent; some market players believe management isn't doing enough to get them to spend more. While several analysts bumped up their AmEx stock-price targets Monday in the wake of the earnings report, none were bulls; by my count, of the four pundits making such changes, three maintained their equivalent of hold recommendations, and one kept his sell rating intact. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool