Oracle shares tumbled close to 7% Friday, though they remain about 75% higher for the year so far. David Paul Morris / Bloomberg / Getty Images Close Key Takeaways Shares of a major credit card issuer moved higher as a refresh of high-end cards and strong spending among affluent customers helped drive a quarterly earnings beat. Meanwhile, gold prices retreated from their recent highs, exerting pressuring on a major mining company. Truist Financial (TFC) also reported better-than-expected results for the thi ...

Core Insights - American Express Co. reported third-quarter results that exceeded analyst expectations, leading to a 6% increase in share price during intra-day trading [1] - The company raised its full-year guidance, projecting revenue growth of 9% to 10% and earnings per share of $15.20 to $15.50 for 2025 [3] Financial Performance - Revenue for the third quarter rose 11% year-over-year to a record $18.43 billion, surpassing the consensus estimate of $18.05 billion [1] - Earnings per share (EPS) reached $4.14, exceeding the forecast of $3.99 [1] - Net income increased 16% to $2.9 billion compared to $2.5 billion a year ago, with EPS rising 19% from $3.49 in the prior-year period [2] Customer Engagement and Spending - Strong card member spending contributed to performance, climbing 9%, or 8% on an FX-adjusted basis [2] - Management highlighted strong customer engagement and continued momentum in premium card spending as key factors driving results [3] Credit Quality - Credit quality remained solid, with provisions for credit losses decreasing to $1.3 billion from $1.4 billion a year earlier [2] - The net write-off rate held steady at 1.9% [2]

SPECIAL REPORT: The 50 Most Sustainable Companies — And More — Revealed American Express (AXP) beat Wall Street expectations early Friday and raised its outlook as upscale shopping bounced back and executives see no imminent slowdown. The Dow Jones stock rose near an all-time high, regaining a buy point. The luxury credit card company earned $4.14 a share in the third quarter, an increase of 19% year over year. Revenue climbed 11%… Related news Dow Jones Futures Signal New Highs In Day 2 Fed Reaction; Nvidi ...

American Express shares climbed after the company posted strong quarterly results. Scott Olson / Staff / Getty Images Close Key Takeaways Major U.S. equities indexes climbed at midday Friday as regional bank stocks rebounded from yesterday's losses after a flurry of corporate earnings reports. The Dow, S&P 500, and Nasdaq were all higher. Kenvue (KVUE) was the best-performing stock in the S&P 500 as investors bought the dip in the health care product's stock following yesterday's selloff after a lawsuit in ...

Updated 10:40 a.m. ET The polite term is that stocks are mixed Friday. It means this for now: The Dow Jones Industrial Average is higher, thanks in part to gains for American Express, pushing toward a 4% gain, because its core customers  — the affluent  — are doing what they do: They're continuing to spend. The company's earnings of $4.14 a share on record revenue of $18.4 billion beat Wall Street estimates for earnings of around $4 on revenue of $18 billion. So, too, is Visa because customers are usin ...

Delinquencies remain steady at 1.3%, while credit quality improved, with average FICO scores up 15 points following the Platinum Card refresh.American Express posted third-quarter earnings results Friday (Oct. 17) that indicated strong growth in card spending, particularly among consumers in the Generation Z and millennial cohorts.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our P ...

American Express beat earnings expectations and raised its outlook, amid strong demand for its higher-priced premium Platinum card. ...

Core Viewpoint - The upcoming earnings report from American Express is anticipated to provide insights into the high-end consumer market, with analysts expecting an EPS of $3.96 and revenue nearing $18 billion, reflecting a 10% increase in shares this year [1][2]. Group 1: Consumer Resilience - The narrative from banks and credit card companies indicates strong consumer resilience, particularly among higher-income consumers who are driving spending growth [3][4]. - Consumer spending is projected to grow annually by 3% to 5%, supported by a shift towards digital transactions and enhanced rewards programs [4][6]. Group 2: American Express Performance - American Express is expected to report charge volume growth in the mid to high single digits, around 7% to 8%, due to robust travel and corporate spending among high-end consumers [6][10]. - The company's closed-loop system, which integrates banking, issuing, marketing, and collection, provides a competitive advantage over Visa and Mastercard, allowing for better customer targeting and fraud prevention [9][10]. Group 3: Market Comparisons - American Express, Visa, and Mastercard have all seen stock performance increase by over 8% in the past year, with American Express benefiting from its focus on high-end consumers who typically have lower credit losses [9][10]. - The stock has recently consolidated about 6% below its all-time highs, with options pricing indicating a potential move of approximately 3.7% post-earnings [12][13].

Core Viewpoint - Rakuten, a major player in the Japanese e-commerce and finance sectors, is considering an initial public offering (IPO) for its credit card business in the United States, as reported by sources familiar with the situation [1] Company Summary - Rakuten is exploring the possibility of launching an IPO for its credit card division, indicating a strategic move to expand its financial services footprint in the U.S. market [1]

Group 1: Investment Strategy - Investing in the stock market is a viable method for building significant wealth, requiring patience, discipline, and a long-term perspective [1] - Blue chip stocks are recommended for new investors starting with $2,000, as they represent companies with proven track records and strong financial stability [1][2] Group 2: American Express - American Express (NYSE: AXP) has a strong brand in the credit card industry, attracting a premium customer base and benefiting from network effects [4] - The company operates a closed-loop network, earning fees on transactions and interest income from credit card loans, which provides a competitive advantage despite credit risk [5] - American Express is positioned to benefit from steady consumer spending and can thrive during inflationary periods, making it a resilient long-term investment [6] Group 3: Morgan Stanley - Morgan Stanley (NYSE: MS) has transformed into a diversified wealth management firm, generating stable fee income from $8.2 trillion in client assets [7] - The company benefits from rising global wealth, particularly from high-net-worth clients, which drives demand for its advisory and investment services [8] - With a strong investment banking pipeline, Morgan Stanley is considered a solid blue chip stock for investors [8]