American Express (AXP) closed Friday's session with a 1.28% gain, finishing at $359.15. Trading volume exceeded the 50-day average, reaching approximately 3.3 million shares, though the stock remains 7.31% below its 52-week high. The advance occurred amid a broader market rally, with the S&P 500 rising 1.97% and the Dow Jones Industrial Average jumping 2.47%.
Annual Report Provides Deeper Insight
Investors are now examining the company's Form 10-K annual report, filed with the SEC on February 6. This comprehensive document details audited financial results for the year ended December 31, 2025, including management's discussion of credit quality, spending trends, and risk factors. The filing often provides crucial context that can reshape perceptions following quarterly earnings announcements.
Insider Transaction Noted
According to a Form 4 filing, Anna Marrs, Group President of Global Merchant and Network Services, exercised options and sold 27,425 shares on February 5 at a weighted average price near $350.01. While such insider sales are routine, they occur as the market evaluates the company's premium strategy and financial guidance.
Following its January earnings report, American Express provided 2026 guidance forecasting earnings per share between $17.30 and $17.90, with revenue growth projected in the 9% to 10% range. The company has pushed back against proposed regulatory caps on credit card interest rates, arguing they wouldn't achieve intended consumer protection goals. Analysts have noted that recent refreshes of premium products like the Platinum card increased costs without a corresponding surge in new account growth.
As a closed-loop payment network that issues cards and processes transactions, American Express faces different dynamics than pure payment processors like Visa or Mastercard. Its performance is particularly sensitive to changes in billed business, credit losses, and marketing expenditures. With management scheduled to present at the UBS Financial Services Conference on February 10, investors will watch for any additional commentary on consumer spending trends and credit metrics revealed in the 10-K.