Word: amex
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Managers at American Express must have taken particular delight last month when AT&T Corp. announced that it was selling its Universal credit-card business to Citibank. AT&T's no-annual-fee entry into the credit-card game in 1990 made this industry universally ugly, particularly for Amex. With free Visa and MasterCard bank cards bulging their wallets, consumers were increasingly leaving home without American Express plastic. Instead of paying membership fees for cards that many merchants refused to honor--since American Express took a heavy bite out of purchases--more than 2 million Amex holders cut up their...
...longer. While poor profits have chased AT&T and others from their plastic perches, American Express is soaring. Shoppers today are gladly flashing Amex cards for everything from gasoline to groceries to trips to China. The card was so hot in 1997 that American Express reversed a decade-long slide in its share of the U.S. card market. With a slew of new consumer cards to go with its traditional strength in corporate plastic, American Express raised its share of the $469 billion general purpose card volume in the first half of 1997 from 18.3% to 18.9%--as Visa...
American Express's turnaround surprised everyone, including H. Spencer Nilson, publisher of the Nilson Report, which tracks spending on credit cards. Nilson is impressed that Amex was able to "come away with any kind of stabilization." He applauds the company for its "significant advances in improving product line and in growth of cardholders and volume. I would not have given them any chance of doing that several years...
...almost completely erased the sobering slide that began March 11, the rest of the market seemed today to have to caught a euphoria that Kadlec called "incredible." Yields on 30-year Treasury bonds fell to 6.99 percent, the lowest in a month. NASDAQ rose 25.60 and AMEX was up 6.83; the S&P was up 21.09. And at the New York Stock Exchange, home of the Dow, advancing issues outnumbered decliners by nearly a 4-to-1 margin. "Normally, the markets would have waited until next week's monthly unemployment numbers," Kadlec said. "They're clearly expecting a reprieve from...
...Trading was heavier totaling 413.01 million shares as of 4 p.m., vs. 368.29 million in the previous session. The NYSE's composite index fell 1.36 points to 346.92. The Standard & Poor's 500-stock index fell 3.44 to 645.50. The Nasdaq composite index rose 9.58 to 1,104.41. The AMEX market value index rose 5.23 to 571.38. In London, gold closed...