Diamonds and Dogs

7/22/22

American Express (AXP) does not see a recession. The credit card giant is up 3% as earnings beat by 16 cents as revenues rose 30% to $13.4 billion. Business remains strong for AXP as the CEO said he doesn't see a recession. American Express actually raised forecasts due to strong travel spending and the resilient consumer.

These are not the old AT&T (T) and Verizon (VZ) companies. Verizon is down 5% today making a new 52-week low following lackluster earnings and lower guidance as wireless growth, their strong suit, slows.  Management said that recent performance has not meet their expectations, we remain confident in our long-term strategy. The stock has been on a steady decline for a number of years. The good news for new investors is the dividend yield is over 5%

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.