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AXP

American Express

$61.40

1.3201 (2.20%)

, COST

Costco

$149.45

0.34 (0.23%)

16:12
10/19/16
10/19
16:12
10/19/16
16:12

American Express reports Q3 ROE 26% vs. 27% last year

Reports consolidated provisions for losses $504M, down 5% from $529M a year ago. The prior year included credit costs associated with cobrand portfolios that were sold earlier this year. Excluding the impact of those cobrand portfolios, adjusted provisions for losses increased 6%, "primarily reflecting higher loan growth." Reports adjusted billed business up 7%. Says adjusted loan growth "remained healthy" and net card fees rose 10%, "reflecting strong performance across our premium card portfolios." Reports operating expenses down 3%. Says "the current quarter included higher spending on growth initiatives, largely reflected in marketing and promotion expenses, as well as solid progress related to company's efforts to reduce its cost base. Credit quality remained strong... Excluding the impact of Costco (COST)-related revenues in the year ago-period, adjusted revenues net of interest expense increased 5%, reflecting a rise in Card Member spending, along with higher net interest income and net card fees."

AXP

American Express

$61.40

1.3201 (2.20%)

COST

Costco

$149.45

0.34 (0.23%)

  • 19

    Oct

  • 23

    Oct

AXP American Express
$61.40

1.3201 (2.20%)

09/09/16
ATLE
09/09/16
INITIATION
Target $62
ATLE
Underweight
American Express initiated with an Underweight at Atlantic Equities
Atlantic Equities initiated American Express with an Underweight and $62 price target.
09/09/16
09/09/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. American Express (AXP) initiated with an Underweight at Atlantic Equities. 2. Alcoa (AA) initiated with a Neutral at Seaport Global. 3. Blue Buffalo Pet Products (BUFF) initiated with an Outperform at Oppenheimer. 4. Harley-Davidson (HOG) initiated with an Outperform at Bernstein. 5. Verifone (PAY) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
NOMU
10/06/16
DOWNGRADE
Target $56
NOMU
Reduce
American Express downgraded to Reduce from Neutral at Nomura
Nomura analyst Bill Carcache downgraded American Express (AXP) to Reduce saying the combination of weaker than expected revenues and higher than expected expenses will weigh on the shares. The third quarter is the first quarter that American Express will report excluding Costco (COST), Carcache tells investors in a research note. He expects the "tug of war between bulls and bears to intensify" in Q3 and thinks 2016 will mark the fourth year of market share losses in U.S. billings. The analyst cut his price target for the shares to $56 from $62.
10/06/16
10/06/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Neutral from Buy at Goldman with analyst David Tamberrino saying he sees incremental risk to Tesla's business related to management's willingness to deploy capital for M&A, and he believes that any delay in the company's new Model 3 launch will be detrimental to shares. 2. JPMorgan (JPM) downgraded to Hold from Buy at Sandler O'Neill with analyst Jeffery Harte citing relative share outperformance. 3. Abercrombie & Fitch (ANF) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jessica Schmidt saying the elevated promotions add to other headwinds, including the fact that the teen space is "overstored" and faces soft consumer demand and weak tourism. 4. American Express (AXP) downgraded to Reduce from Neutral at Nomura with analyst Bill Carcache saying the combination of weaker than expected revenues and higher than expected expenses will weigh on the shares. 5. Lowe's (LOW) downgraded to Neutral from Buy at Cleveland Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
COST Costco
$149.45

0.34 (0.23%)

10/18/16
10/18/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Costco (COST) initiated with a Market Perform at Wells Fargo. 2. Level 3 (LVLT) initiated with an Overweight at Barclays. 3. AC Immune (ACIU) initiated with a Buy at Jefferies, an Outperform at Credit Suisse, and an Outperform at Leerink. 4. Apptio (APTI) initiated with a Neutral at Goldman, a Buy at Jefferies, an Equal Weight at Barclays, a Neutral at JPMorgan, a Buy at BofA/Merrill, an Overweight at Pacific Crest, and a Sector Perform at RBC Capital. 5. Adient (ADNT) initiated with an Outperform at Baird, a Neutral at Buckingham, and a Buy at Seaport Global. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/16
NRCS
10/19/16
UPGRADE
NRCS
Buy
Costco upgraded to Buy from Neutral at Northcoast
10/19/16
10/19/16
UPGRADE

Buy
Costco upgraded to Buy on earnings momentum at Northcoast
As previously reported, Northcoast upgraded Costco to Buy from Neutral with a $175 price target. Analyst Chuck Cerankosky expects a stronger earnings improvement in 2018 and believes the performance will reflect a $5 membership increase in the US and Canada. Further, the analyst expects the board to declare another $5 per share special dividend given the company's strong cash flow and for the company to benefit from the new relationship with Visa.
10/19/16
10/19/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Hold from Sell at Loop Capital with analyst Blake Harper saying downside is limited, even if the Q3 results disappoint, as there is "essentially a floor on the value of shares given the M&A speculation." 2. Costco (COST) upgraded to Buy from Neutral at Northcoast with analyst Chuck Cerankosky saying he expects a stronger earnings improvement in 2018 and believes the performance will reflect a $5 membership increase in the US and Canada. 3. Yum! Brands (YUM) upgraded to Outperform from Neutral at Credit Suisse with analyst Jason West citing a bullish outlook for the "New Yum" non-China, which will begin to trade on a standalone basis on November 1. 4. America's Car-Mart (CRMT) upgraded to Buy from Underperform at BofA/Merrill with analyst Elizabeth Suzuki saying she believes competition in the subprime auto market is beginning to ease and said she is seeing signs of credit tightening at other subprime lenders which should benefit Car-Mart. 5. Alon USA Partners (ALDW) and Western Refining (WNR) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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SHO

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MENT

Mentor Graphics

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Siemens

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HPE

HP Enterprise

$22.96

-1.7 (-6.89%)

, JCP

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$6.46

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ACIA

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  • 24

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Options
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CRAI

CRA International

$36.98

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  • 29

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PRZM

Prism Technologies Group

$0.32

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EQY

Equity One

$32.00

0.09 (0.28%)

, REG

Regency Centers

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0.24 (0.34%)

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IBM

IBM

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FE

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0.93 (2.96%)

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HF

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LFGR

Leaf Group

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LFGR

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FRED

Fred's

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0.57 (3.31%)

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FOMX

Foamix

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0.12 (1.27%)

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GLAD

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BIOS

BioScrip

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-0.02 (-1.25%)

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ATKR

Atkore

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