00:00American Express slid 3.71% today. What happened?
00:05What happened was an earnings day sell-off, even though the headline results were strong.
00:11In a filing, American Express said third quarter revenue reached a record $20.1 billion,
00:18up 9% year over year. The company also raised its full-year earnings per share guidance.
00:24That combination suggests investors were looking past the beat and focusing on expectations already
00:31built into the stock. But the filing itself doesn't identify the specific reason sellers
00:37pushed shares lower. Financials fell 1.32% today, so this went much further than the sector did.
00:46A new post-market recap every trading day.
