BUZZ - American Express shares decline after third quarter earnings report

October 23 - ** Credit card giant American Express (AXP.N) shares fell 1.2% in pre-market trading to $321.22

** American Express (AXP) raised its 2026 earnings forecast after reporting strong third-quarter results (link), thanks to high-net-worth clients using credit cards to pay for travel, dining, and shopping expenses

** “The headline is good—American Express beat earnings expectations and raised its full-year guidance. But the details are mixed. The guidance upgrade is based on the third quarter’s actual performance rather than an indication of upside for the fourth quarter,” said Truist analysts

** Out of 32 brokers, 17 rate the stock as “buy” or higher, 15 rate it as “hold”; the median target price is $375—data compiled by LSEG

** As of the previous trading day’s close, AXP has fallen 12.1% so far this year

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