American Express Gets The Beats After Q4 Report

American Express Co.

shares are trading lower by $6.50 at $56.14 in Friday's session. Despite a Q4 beat of a dime with inline revenues, investors are abandoning the issue. One reason for the steep decline may be the Q4 net income drop of 36 percent. After a sharply lower open, it managed only at $0.50 bounce to $58.89 before turning lower. So far, it has reached $55.85 and is not far off that level. This marks the lowest level for the issue since it bottomed in December 2012 at $55.47.