SOURCE: Wall Street Equity Research
July 29, 2010 09:38 ET
Professional Research on American Express and Capital One -- Losses on Bad Loans Goes Down
JOHANNESBURG, SOUTH AFRICA--(Marketwire - July 29, 2010) - www.wallstreetequityresearch.com gives shareholders valuable insight on credit services stocks American Express Company (NYSE: AXP) and Capital One Financial Corp. (NYSE: COF). Sign up today at www.wallstreetequityresearch.com to receive free research reports on these equities.
Credit card charge-offs, loans that credit card companies don't expect to be collected, have declined for the third straight month, but poor consumer loan demand has kept the credit card industry relatively flat.
www.wallstreetequityresearch.com is a specialized website where investors can have specific access to free reports on credit services industry; traders looking for analyst opinions on American Express Company, Capital One Financial Corp. and other companies in this industry are welcomed to sign up for a free one year membership at http://www.wallstreetequityresearch.com/.
Major credit card companies like American Express and Capital One Financial recent quarterly profits beat expectations. Both American Express and Capital One Financial released their earnings last Thursday with profits close to a triple of what it was the same quarter in 2009. Both companies have seen losses on bad loans decline for the quarter. Traders can get direct and free access to today's full reports on American Express Company and Capital One Financial Corp. by signing up at http://wallstreetequityresearch.com/July282010AmericanExpressCompany(AXP)280710.php and http://wallstreetequityresearch.com/July282010CapitalOneFinancialCorp.(COF)280710.php.
However, the tightening of consumer spending due to the economic crisis and lower employment rates has kept the companies in check. Customers without jobs are now hesitant to get into debt, and customers with good jobs, acutely aware of their privileged position, are also purchasing less on credit.
New regulatory laws are also threatening to cut deeply into the industry's profits. One segment of the legislation will restrict fees reaped by transaction processing networks and banks when consumers use debit card for purchases. With consumers borrowing less and new legislation poised to negatively affect the credit card industry it will be interesting to see how players in this space respond. Visit us at http://www.wallstreetequityresearch.com/ to understand the catalysts and forces driving or affecting the credit services industry in today's economic environment.
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