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ConocoPhillips Message Board

jc_magical_mystery_tour 1 post  |  Last Activity: Feb 13, 2015 6:57 AM Member since: Dec 21, 2004
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  • jc_magical_mystery_tour by jc_magical_mystery_tour Feb 13, 2015 6:57 AM Flag

    Morgan Stanley's Cheryl M. Pate expects the loss of a co-branding relationship with Costco Wholesale Corporation (NASDAQ: COST) will reduce AmEx's earnings between 2.5 percent and 4.5 percent. Earlier this week, the company said it failed to negotiate favorable extension terms; the exclusive agreement with Costco will expire on March 31 next year. But expenses saved from the lost business can be used to cut costs, or they can be redeployed to other endeavors to recoup lost revenue, Pate explained. Also worth noting, AmEx will retain existing loans and the customer list, likely to yield a one-time gain from the sale to a competing bidder.

    "We would be buyers on any dips," Pate added.

    Sentiment: Buy

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