Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (12606)	8/6/1998 1:25:00 PM
From: John Sikora	Respond to of 120523

Judy, Just a heads up on SYNT CBSL KEA and MAST...All are at or close to 200 dma... FWIW I re-entered KEA yesterday MAST just now... john

To: Judy who wrote (12606)	8/6/1998 1:29:00 PM
From: Jenna	Respond to of 120523

American Express stock down after meeting NEW YORK, Aug 6 (Reuters) - American Express Co. stock fell on Thursday after an analyst meeting at which the company said economic woes in Asia were hurting some operations and raised the possibility of slower growth going forward, analysts said. ''American Express had an investor meeting yesterday where they talked about the fact that weakness in Asia had hurt their business somewhat and they were starting to see slowing growth in credit card and travel spending in Asia,'' Gary Gordon, an analyst at PaineWebber said. The shares lost 3-3/16 to 105-1/4 in active trade, making it the weakest of the 30 Dow Jones Industrial stocks. American Express Chairman Harvey Golub told the meeting, held on August 5, the company's travel business in Asia had slowed and billed business on a foreign exchange-adjusted basis had slipped from double-digit to low single-digit growth. The economic slowdown in Asia was lowering financial results at American Express's card and travel business and would likely delay the company's progress in achieving some of its goals for international operations, he said. Golub also said in a prepared statement Asia's economic slowdown would likely spread into Latin America and the company had already seen some impact in Europe and the United States. But Goldman Sachs analyst Robert Hottensen Jr. said American Express could offset the potential for less billed business by stressing other areas, like small business credit, the American Express Financial Advisors unit as well as network alliances and improving domestic and international card share. At the company's financial advisor unit, net income has risen 17 percent in the first half of the year on revenue growth of 12 percent, Golub said. Rising stock prices has pushed assets under management up 20 percent, he said. In small business credit, American Express it was operating in an area that was ''ripe with opportunity,'' particularly in lending and cards. American Express also continues to expand the number of its network alliances, recently announcing joint ventures in Switzerland and Belgium and independent operator agreements in Hungary, Norway and Ecuador, it said. ''Although management was somewhat cautious on slow billed-business growth in Asia, we have accounted for these expectations in our model and see no reason to alter earnings per share or long-term growth estimates,'' Hottensen said. Thomas Facciola, an analyst at Lehman Brothers, said the analyst meeting produced little new information and that shares of other large capitalization financial stocks were also weak on Thursday. ''I don't think the presentation made you run out and want to buy the stock, but there was not a lot of new information that came out of it,'' he said. --------------------------------------------------------------------------------