Welcome to our dedicated page for American Express news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express stock.
American Express Company reports news about a global payments and premium lifestyle brand that issues charge and credit card products, operates a merchant payment network, and serves consumers, small and mid-sized businesses, large corporations, and merchants. Company updates often cover earnings releases, Card Member spending and credit performance, dividend actions on common and preferred shares, investor presentations, and capital allocation.
American Express news also includes product and network developments tied to commercial cards, co-brand card programs, Membership experiences, merchant relationships, Resy dining initiatives, small-business education, and brand partnerships. These announcements reflect the company's model of combining payments, lending, merchant acceptance, rewards, and service experiences across its global network.
American Express (NYSE: AXP) CEO Stephen J. Squeri will speak at the Goldman Sachs U.S. Financial Services Conference on December 8, 2020, at 9:20 a.m. ET. The virtual event will include a Q&A session focused on the company's business strategy and financial performance. A live audio webcast will be available to the public via the American Express Investor Relations website, with an audio replay accessible after the event. American Express is a global payments company that offers products, insights, and experiences for customers.
American Express (NYSE:AXP) has enhanced its Early Pay solution in the U.S., a supply chain payment platform aimed at large companies and their suppliers. This upgraded service, originally launched in 2018, offers improved digital payment capabilities, helping businesses optimize cash flow, capture early payment discounts, and streamline accounts payable processes. According to a study, automating early payments could yield up to $8.84 billion in savings for U.S. companies. The initiative reflects American Express's commitment to addressing B2B payment challenges and supporting digital transformation.
American Express (NYSE: AXP) CFO Jeffrey C. Campbell will speak at the Bank of America Securities Future of Financials Conference on November 10, 2020, at 1:40 p.m. (ET). The session will include a virtual Q&A focusing on the company's business strategy and financial performance. A live audio webcast will be available to the public on the American Express Investor Relations website. An audio replay will be accessible post-event.
American Express is a global payments company offering products and experiences that enhance customers' lives and support business success.
American Express (NYSE: AXP) partners with Uber to offer exclusive benefits for U.S. Consumer Platinum, Gold, and Green Card Members, aimed at enhancing at-home dining experiences. Effective immediately, Platinum, Gold, and Green Card Members receive a complimentary Eats Pass Membership for up to 12 months, valued at $119. Additionally, starting next year, Gold Card Members will gain $120 in annual Uber Cash for Uber Eats or rides. These initiatives stem from a shared commitment to meet consumer demands for food delivery, building on existing dining benefits to elevate customer experience.
American Express (NYSE: AXP) has appointed Charles Phillips to its Board of Directors, effective December 1, 2020. With extensive experience in the technology sector, Phillips has a proven track record of leading significant digital transformations. He co-founded Recognize, a technology investment firm, and previously served as CEO of Infor, enhancing its cloud capabilities. His background includes major roles at Oracle and Morgan Stanley. This appointment aims to leverage Phillips' insights to enhance strategic priorities and bolster growth initiatives.
American Express Company (AXP) reported third-quarter net income of $1.1 billion, or $1.30 per share, down from $1.8 billion, or $2.08 per share in Q3 2019. Total revenues net of interest expense fell to $8.8 billion, a 20% decline year-over-year. Provisions for credit losses dropped 24% to $665 million, reflecting lower net write-offs. Despite these declines, spending volumes showed signs of recovery, particularly in non-travel and entertainment sectors. The company maintained a strong liquidity position while cautious about ongoing pandemic impacts on the economy.
American Express Company (NYSE: AXP) has declared dividends on its Series B and C Preferred Shares. The quarterly dividend for Series B is set at $9,373.33 per share, payable on November 16, 2020, to shareholders of record on November 1, 2020. For Series C, the quarterly dividend will be $8,936.66 per share, payable on December 15, 2020, to shareholders of record on December 1, 2020. These dividends reflect the company's ongoing commitment to returning value to shareholders.
American Express (NYSE: AXP) is hosting a virtual event, "Business Class LIVE: Summit for Success," on October 20, 2020, aimed at supporting small businesses amid COVID-19 challenges. The event will provide resources, networking opportunities, and valuable insights tailored for entrepreneurs, particularly focusing on minority-owned businesses. Key findings from the American Express Business Resiliency Survey indicate a strong entrepreneurial spirit, with 75% of business owners optimistic about recovery. The Summit will cover topics like business resilience, marketing strategies, and access to capital, featuring 35 sessions with industry experts.
American Express (NYSE: AXP) has partnered with GlobalGiving to expand its employee charitable giving program globally. Now, colleagues in over 30 locations can donate to vetted nonprofit projects in 170+ countries, with contributions matched by the American Express Foundation. This initiative enhances the existing Give2Gether program, which saw more than 29,000 employees donate $5.6 million last year. The partnership aims to support organizations tackling issues like health care access and social equality, especially in response to challenges exacerbated by the COVID-19 pandemic.
American Express (NYSE: AXP) is set to open its 13th Centurion Lounge at John F. Kennedy Airport (JFK) Terminal 4. Spanning over 15,000 square feet, it is the largest lounge to date, featuring two guest floors. Health practices including socially distanced seating and served food will be implemented. The lounge will boast an '1850' speakeasy bar and a menu by James Beard Award nominee Ignacio Mattos. The opening aligns with a rise in domestic travel bookings by Amex Card Members, indicating increasing consumer confidence in air travel.