16:41 AXP American Express: Color on earnings (26.34 +1.02) -Update-
We'd note that AXP's EPS of $0.74 included a net gain of $158 mln, compared with a net loss of $11 mln from a year ago. The net gain reflects the recognition of $220 mln ($136 mln after-tax) for the previously announced MasterCard and Visa settlements and tax benefits due to the revision of the co's estimated annual effective tax rate... Last qtr analysts included these items, and as far as we can tell this qtr's ests also appear to include this item.
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