It is up 5 1/2 today, or 5.82%.
Wow! AXP closed today up 4 1/2 or 4.76%. This is the biggestjump i've ever seen.OK, gurus, so why did AXP jump so high during a roller-coaster day when the DJIA popped up and down near the magic 9,000?I've searched various on-line news services and didn't see any one specific factor that would be a nice tidy explanation.
In addition to the Citicorp rumors, I read somewhere on Friday AXP was just upgraded by some brokerage firm (maybe JP Morgan). I also think people see AXP hasn't gone up much this year; therefore, it's "cheap."
The main reason AXP was up today so much was mainly because of merger talks with Citicorp. Merrill was also up for the same reason. Hope this helps.