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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (6695)	7/18/2001 8:01:14 AM
From: keithcray	Respond to of 208838

07:55 ET American Express (AXP) 38.78: -- Update -- Including additional write-downs in company's high-yield portfolio and losses associated with rebalancing the portfolio towards lower risk, company sees Q2 earnings falling 76% from yr-ago net of $0.54 (consensus $0.53). Excluding these items, AXP sees net of $0.53. AXP expects the economy to remain weak throughout this year and into 2002, and that default rates in the corporate bond market will continue at high levels through next year. Company planning to eliminate 4,000-5000 positions