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American Express Boosts FY24 Earnings Outlook - Update
(RTTNews) - While reporting financial results for the second quarter on Friday, integrated payments company American Express Co. (AXP) raised its earnings guidance for the full-year 2024, while maintaining annual revenue growth outlook.
For fiscal 2024, the company now projects earnings in a range of $13.30 to $13.80 per share, up from the prior forecast range of $12.65 to $13.15 per share. Meanwhile, the company continues to expect revenue growth of 9 to 11 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.97 per share on revenue growth of 9.7 percent to $66.41 billion for the year. Analysts' estimates typically exclude special items.
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American Express Backs FY23 Outlook - Update
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Swiss Market Ends Modestly Lower
Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
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European Stocks Close Lower On Geopolitical Tensions
European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.
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Chicago Business Barometer Slumps Much More Than Expected In August
MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
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