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Non-Tech : American Express (AXP)
AXP 360.73+0.5%Oct 31 9:30 AM EST
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To: redwood who wrote (130)7/27/1999 2:59:00 PM
From: Tae Spam Kim   of 179
 
American Express (AXP) posted a healthy Q2 profit of $646 million or $1.41 a share, up 12% from a year ago. The earnings beat Wall Street expectations by a penny and were in line with the company's long term goals of 12-15% earnings growth. ROE was at a robust 25%, exceeding the company goal of 18-20%.

Financial advisory unit performance was strong with 14% earnings growth, while the travel unit's earnings were down 18% from a year ago. The company added an impressive 1 million new cards and recently launched a comprehensive internet banking initiative.
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