American Express

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Bailout, Oil Send Dow Down 372
 Bailout, Oil Send Dow Down 372 
MARKETS
Sep 22, 2008 3:26 PM CDT

Bailout, Oil Send Dow Down 372

Traders nervous about long-term effects

(Newser) - Stocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75,...

Stocks Reverse; Dow Down 280
 Stocks Reverse; Dow Down 280 
MARKETS
Sep 9, 2008 3:16 PM CDT

Stocks Reverse; Dow Down 280

Lehman Bros., housing weigh on investor sentiment

(Newser) - After a strong rally yesterday following news of the Fannie/Freddie bailout, stocks gave most of the gain back today as the failure of talks between Lehman Brothers and Korea’s state bank sent shares in the investment giant down 44.1%, MarketWatch reports. The Dow fell 280.01 to close...

Stocks Rise as Oil Drops
 Stocks Rise as Oil Drops 
MARKETS
Jul 22, 2008 3:22 PM CDT

Stocks Rise as Oil Drops

Price of barrel drops to $126, a 7-week low

(Newser) - Stocks climbed to robust gains by the end of today’s session as a drop in oil helped offset a spread of mixed earning reports, MarketWatch reports. The Dow gained 135.16 points to close at 11,602.50, the Nasdaq rose 24.43 to 2,303.9, and the...

MasterCard to Pay Amex $1.8B

Antitrust settlement will help Amex defray losses as economy continues to drag

(Newser) - MasterCard will pay American Express $1.8 billion in 12 quarterly installments, settling a lawsuit that claimed it had blocked banks from offering American Express cards to customers, the Wall Street Journal reports. American Express said the antitrust settlement would "help to lessen the impact of this weakening economic...

Stocks Fall as Oil Prices Surge
 Stocks Fall as Oil Prices Surge  
MARKETS
Apr 9, 2008 3:45 PM CDT

Stocks Fall as Oil Prices Surge

American Express and UPS decline

(Newser) - Stocks fell today on bad news on earnings and record prices for crude oil. American Express, General Motors, and UPS all took hits. "The negative UPS news could shake confidence in the broader transport stocks," an analyst tells the Wall Street Journal. The Dow ended down 49.18...

Discover Gobbles Up Diners Club
Discover Gobbles Up Diners Club
Apr 8, 2008 3:10 AM CDT

Discover Gobbles Up Diners Club

Firm moves into international credit card market with $165M deal

(Newser) - Discover Financial Services is moving into the global credit card market with its acquisition of Diners Club International from Citigroup, Bloomberg reports. The $165 million deal gives Discover a foothold in the 185 countries outside North America where Diners has a presence, which will add revenue at a time when...

Bear Bailout Invites the Bears
 Bear Bailout Invites the Bears 
MARKETS
Mar 14, 2008 3:40 PM CDT

Bear Bailout Invites the Bears

Financial sell-off follows Fed's move, sends markets plummeting

(Newser) - News of the Bear Stearns bailout triggered a sell-off today as investors were reminded that the true depth and breadth of current credit problems remains uncertain, the Wall Street Journal reports. Bear Stearns stock closed at 30, down a breathtaking 47.4% on the day. The Dow fell 194.65...

Stocks Up on Rate-Cut Hopes
Stocks Up on Rate-Cut Hopes
MARKETS
Jan 28, 2008 3:48 PM CST

Stocks Up on Rate-Cut Hopes

Investors look for grim housing numbers to lead to a cut

(Newser) - Stocks finished in positive territory today, riding hopes that grim new housing numbers will lead the Fed to cut interest rates this week. "The main event for the week will be the Fed-rate decision on Wednesday," a strategist tells MarketWatch. The Dow was up 176.72 to 12,...

Dow Tanks on Consumer Woes
Dow Tanks on Consumer Woes
MARKETS
Jan 11, 2008 3:25 PM CST

Dow Tanks on Consumer Woes

Index nosedives after more bad news about spending

(Newser) - The Dow plunged 246.79 points to 12,606.30 today as investors, worried about consumer spending, fled retailers and credit-card issuers. Analysts are concerned the mortgage crisis has finally hit pocketbooks, hurting credit, jobs, and public confidence, the Wall Street Journal reports.The Nasdaq slid 48.58 to close...

American Express Feels Credit Crunch

With defaults on rise, company taking hefty fourth-quarter charge

(Newser) - With consumer spending slowing and credit defaults on the rise, American Express said today it will take a fourth-quarter charge of $275 million to build up its charge-card reserves, the Wall Street Journal reports. The company, which cited housing turmoil as a contributing factor, also predicted earnings to come in...

Visa Settles $2.25B AmEx Suit
Visa Settles $2.25B AmEx Suit
Nov 8, 2007 8:28 AM CST

Visa Settles $2.25B AmEx Suit

Antitrust settlement could be largest ever

(Newser) - In what could be the largest settlement ever to resolve an antitrust lawsuit, Visa has agreed to pay American Express up to $2.25 billion for blocking member banks from offering rival credit cards, the AP reports. The deal helps clear the way for Visa’s IPO, expected early in...

Black Fortune 500 CEOs in Short Supply

Departure of Merrill, Time Warner chiefs knocks total to four

(Newser) - The departure of Dick Parsons from Time Warner and Stan O'Neal from Merrill Lynch has reduced the already sparse population of African-American CEOs running Fortune 500 companies to an extremely paltry four, reports AP. CEOs of any color have a short shelf life, and the small numbers of black chiefs...

Apple Numbers Lift Markets
Apple Numbers Lift Markets
Oct 23, 2007 3:38 PM CDT

Apple Numbers Lift Markets

Earnings punch through the crunch

(Newser) - Stocks closed up today, thanks partially to good news from Apple, which reported a 67% increase in quarterly profit after yesterday's close. Tech in general continued to bolster the markets despite broader economic worries. The Dow rose 109.26 to 13,676.23, the Nasdaq was up 45.33 to...

Earnings, Subprimes Sink Stocks
Earnings, Subprimes
Sink Stocks
Jul 24, 2007 3:59 PM CDT

Earnings, Subprimes Sink Stocks

Dow falls 226.47 after lackluster reports, increased negativity

(Newser) - The Dow slid 226.47—nearly 2%—back to 13716.95 today, after mediocre earnings reports helped deflate a giddy mood and remind traders of persistent woes from the subprime sector. American Express reported lower-than-expected second-quarter earnings dampened by higher marketing costs; DuPont also released disappointing numbers.

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