Archive for January 15th, 2010

American Express credit trends improve in December (AP)

American Express Co. said Friday that its credit card losses and delinquencies fell in December. The card issuer said in a Securities and Exchange Commission filing that its annual net write-off rate fell to 7.4 percent at the end of December from 8.1 percent at the end of November.

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Wall St stumbles on JPMorgan, economic data (Reuters)

U.S. stocks slid on Friday after JPMorgan Chase & Co reported deep fourth-quarter loan losses and raised concerns about bank profits.

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Business events scheduled for the coming week (AP)

MONDAY, Jan. 18 Markets closed for Martin Luther King Jr. Day. BRUSSELS — Eurozone finance ministers’ talks, Greece’s budget plans likely to dominate.

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CTC Media shares fall on Credit Suisse downgrade (AP)

Shares of Russian broadcaster CTC Media tumbled Friday after an analyst wrote that new regulations could cut into company profits.

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Scotts Miracle-Gro shares rise after upgrade (AP)

Shares of Scotts Miracle-Gro rose Friday after a CL King & Associates analyst upgraded the stock based on a strong prospects for higher profit.

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Bank of America charge-offs rise in December (AP)

Bank of America Corp. said Friday that its U.S. credit card losses rose in December, although delinquencies edged lower.

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Con-way shares fall after downgrade (AP)

Shares of Con-way Inc. fell Friday after an analyst wrote that the trucking company will be forced to keep prices low because of competition.

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Capital One credit charge-offs rise in December (AP)

Capital One said Friday that its U.S. credit card losses rose in December, although delinquencies edged lower. The company said in a Securities and Exchange Commission filing that its annual net charge-off rate for U.S. cards rose to 10.14 percent last month from 9.6 percent in November.

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Premarket roundup: Intel tops exp (AP)

Among the premarket stories for Friday, Jan. 15, from AP Financial News: — Intel Corp. “delivered on high expectations” when it posted better-than-expected earnings for the fourth quarter, but the chip maker could face challenges in 2010 as demand for desktop computers slows, an analyst said.

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Ahead of the Bell: AMD upgraded, shares up (AP)

Shares of Advanced Micro Devices Inc. got a boost in premarket trading Friday following stronger-than-expected results Thursday from its larger rival, Intel Corp. that gave further proof of a recovering PC market.

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