Visa Mastercard profits expected to jump as travel rebounds Pre - Mtgfx HEAD TOPICS
Visa Mastercard profits expected to jump as travel rebounds
10/21/2022 6:25:00 AM Visa Mastercard profits expected to jump as travel rebounds
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Visa Mastercard profits expected to jump as travel rebounds U.S. card companies are expected to benefit as pandemic-weary consumers continue to fuel demand for travel, one of the biggest contributors to revenue, despite rising inflation. Reuters GraphicsTHE CONTEXTCard companies tend to make more money when prices surge as they typically charge a percentage of the dollar value of transactions.But high inflation can weigh on consumer spending if it is accompanied by rising interest rates, like in the United States, that could tip the economy into recession. A darkening economic outlook has not yet crimped spending by consumers who remain in good financial health, according to U.S. banking giants that reported earnings earlier this month.read moreAmerican Express, which is more sensitive to interest rate increases as credit cards comprise a large part of the company's business, remains well-positioned. Read more:
Reuters » U.S. heating worries mount amid growing costs, uncertainty United Airlines reaps $942 million profit on strong summer Tesla Poised for Near-Record Earnings as Demand Concerns Loom ASML said it expects 'limited' impact from new U.S. restrictions on China. Shares jump after better-than-expected results Tina Forte Clueless AOC is out of touch Prime News
Candidate for U.S. Representative in New York, Tina Forte calls out opponent Alexandria Ocasio-Cortez for her refusal to debate, her radical leftist policies... Read more >> U.S. heating worries mount amid growing costs, uncertaintyFamilies are looking forward with dread as winter approaches with high energy costs and tight fuel supplies. The U.S. Department of Energy is projecting sharp price increases for home heating compa… How's everyone enjoying the great reset Biden's war on US energy will cost many lives for sure 😢 United Airlines reaps $942 million profit on strong summerUnited Airlines has reported a $942 million profit for the third quarter after a strong summer travel season. Tesla Poised for Near-Record Earnings as Demand Concerns LoomTesla is expected to report near-record quarterly profit, but recent stumbles and economic uncertainty have sparked concern on Wall Street about its ability to hit its annual growth target. Leave elonmusk alone for fuck sake People would like Tesla more if Elon would stop being such a douche. 🏎️ Elon Musk gets good and bad news. Highest revenue but lower than analysts expectations. Long term Market capitalization expect to be rocketing. ASML said it expects 'limited' impact from new U.S. restrictions on China. Shares jump after better-than-expected resultsThe Dutch semiconductor equipment company reported better-than-forecast results and addressed a recent ban on shipments to China. Morant's 34 points lead Grizzlies to OT win over KnicksJa Morant had 34 points and nine assists, and the Memphis Grizzlies beat the Knicks in overtime on Wednesday night in the season opener for both teams. have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares.October 20, 2022 at 7:19 a.October 18, 2022, 3:30 PM Updated: October 18, 2022, 4:33 PM Tags: Business FILE - A United Airlines jetliner takes off from a runway at Denver International Airport Tuesday, Sept.Recent stumbles and economic uncertainty have sparked concern on Wall Street about the electric-car maker’s ability to hit its annual growth target The climate bill recently passed by the Senate could knock thousands of dollars off the sticker price of electric vehicles, but it’s also redefining which cars are eligible. Reuters Graphics THE CONTEXT Card companies tend to make more money when prices surge as they typically charge a percentage of the dollar value of transactions. But high inflation can weigh on consumer spending if it is accompanied by rising interest rates, like in the United States, that could tip the economy into recession. UPDATED: October 20, 2022 at 7:23 a. A darkening economic outlook has not yet crimped spending by consumers who remain in good financial health, according to U. Thats boosting the bottom line at United Airlines, which looks for a big summer of international travel next year.S. JAY, Maine — Across the U. banking giants that reported earnings earlier this month. Elon Musk’s electric-vehicle maker so far has brushed off worries about weakening demand. read more American Express, which is more sensitive to interest rate increases as credit cards comprise a large part of the company's business, remains well-positioned., families are looking to the winter with dread as energy costs soar and fuel supplies tighten. All rights reserved. "AmEx's (credit) loss rates have stayed firmly in check. Its core customers are likely to have higher incomes, who are expected to be less impacted by inflation," BofA Securities analyst Mihir Bhatia said. The situation is even bleaker in Europe, with Russia’s continued curtailment of natural gas pushing prices upward and causing painful shortages. American Express will report its quarterly earnings on Friday, followed by Visa and Mastercard next week. He said that is partly because people who work part of the week from home have more flexibility to take short trips. AmEx shares have dropped 12%, while Mastercard and Visa are down 17% and 14% this year, respectively. He filled a container with heating oil as he could afford it, usually on paydays, and used a heating assistance program to top off his 275-gallon oil tank with the arrival of colder weather.3 billion, set in the first quarter. Reuters Graphics THE FUNDAMENTALS WALL STREET SENTIMENT ** American Express - 15 of 28 brokerages rate the stock "buy" or higher, 11 "hold" and 2 "sell"; median PT $170 - Refinitiv data ** Visa - 36 of 40 brokerages rate the stock "buy" or higher and 4 "hold"; median PT $257 ** Mastercard - 35 of 39 brokerages rate the stock "buy" or higher, 4 "hold" and 2 "sell"; median PT $405 Register now for FREE unlimited access to Reuters.com Register Reporting by Niket Nishant in Bengaluru; Editing by Lananh Nguyen and Shounak Dasgupta Our Standards: . “It’s a hard one,” he said.28 among analysts in a FactSet survey.