MidnightTrader Analyst Notebook: American Express
American Express
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PowerRating) closed up 6% at 40.02 in Tuesday’s
session, extending the gain seen in pre-market trading, when the stock hit 37.98.
UBS today raised credit card firms American Express, Discover Financial
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PowerRating) and Capital One
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PowerRating) to Neutral vs Sell.
Over the handful of analyst ratings changes we’ve tracked, the stock has widened
its pre-market move during regular trading three times, once narrowed that move
and once matched its early move.
7/1/08 Pre-Market: firmer to 37.98; 7/1/08 Regular Session: +6% to 40.02 –
UBS raised to Neutral.
2/4/08 Pre-Market: -3.8% to 47.74; 2/4/08 Regular Session: -4% to 47.74 – UBS
cut to Sell.
1/22/08 Pre-Market: -4% to 41.64; 1/22/08 Regular Session: -0.2% to 43.54 –
Citi cut to Hold.
12/7/07 Pre-Market: -2.5%; 12/7/07 Regular Session: -4.9% to 56.58 – Merrill
Lynch downgraded to Sell.
7/17/07 Pre-Market: firmer to 63.35; 7/17/07 Regular Session: +4.6% to 64.70 – Goldman raised rating to Buy.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.