Dow Movers: Big News You Must-Know Now
Where the Kardashians go, others are sure to follow. American Express Company (NYSE:AXP) and Chase (NYSE:JPM) are the newest players on the prepaid card market. According to The Wall Street Journal, American Express is releasing a card targeted to college students, which is set to be sold at more than 500 campus-based Barnes & Noble (NYSE:BKS) bookstores. Chase’s card, Chase Liquid, will be launched to a broader market, with the bank announcing plans to test-market the card at about 200 branches. American Express stocks were solid in recent trading, holding at $59.89.
While you may not get peanuts on your next flight, would you settle for a smoother ride? American Airlines (AAMRQ) is taking their fleet of Boeings to new heights with the announcement of upgrades to their international widebody aircraft. This modernization plan is part of American’s plan to invest several hundred million dollars annually in upgrades to the customer experience. Boeing Co. (NYSE:BA) shares dipped in recent trading, dropping $0.78 to $74.18.
JAB Holdings has announced plans to sell off a 4.9% stake, or 36 million shares, of Reckitt Benckiser Group (RBGPY). JAB, which had been Reckitt’s largest shareholder, has promised Bank of America Merrill Lynch that it will not sell-off any more of its interest in the manufacturer for 365 days following the placing. Shares in Bank of America Corporation (NYSE:BAC) dipped by $0.03 in recent trading, coming in at $7.76.
Mark off May 9 at 4:30PM on your calendars. That is when Cisco Systems, Inc. (NASDAQ:CSCO) is set to release its report on Q3 earnings during a conference call. According to First Call, analysts have Cisco’s earnings per share coming in at 47 cents, while revenue at $11.57 billion. Cisco has been holding steady in recent trading at $18.70, or down $0.01.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.