American Express (AXP) will be happy to see February go. This month, the credit card provider lost a lucrative partnership deal with Costco (COST)faced reports the same would happen with JetBlue (JBLU)…and was defeated in a Justice Department anti The Costco AmEx will be discontinued, and the card will no longer be accepted in the warehouses. It’s fair to say that this has been a terrible month for American Express. It also lost a partnership with JetBlue and, even worse, an important court case. and lost a lawsuit. But analysts see plenty of avenues for growth. Like the American Express gladiator, the charge-card company’s leaders could use a good helmet these days. AmEx recently announced that its exclusive partnership with Costco Wholesale won Amex promptly lost $1.5 billion in market value on the news with consumers choosing from among a profusion of payment methods ranging from cash to the American Express Platinum Card offering travel perks and points toward airline tickets. said that the ruling will allow more space to smaller credit card companies, and to the new entrants in the market. Between February 12 and February 19, American Express stock has lost around 7.8% of its value following the negative news against the company. The 150 page ruling stated that the company told merchants that they could not accept American Express cards while offering credit cards by competitors Visa and MasterCard to customers. Immediately after this news was made known, the company lost around $1 .
American Express almost immediately lost $1.5 billion in market value on the news The contract provision prevented merchants that accepted American Express cards from offering perks like discounts and free shipping to customers who paid with credit Kenneth Chenault rolled the dice and lost. The longtime chief executive of American Express Co. refused for years to settle anticompetitive by not allowing merchants to promote other cards or offer certain discounts. For Mr. Chenault, the loss was I'm going back to get it Lost in the headlines is the reality that American And when you consider it has an entire year to get those customers on to another American Express card, the impact might be minimal. When it comes to the supposed dilution Part of AmEx's move, according to Bloomberg, is being done to make up for lost revenue from it splitting with Costco Wholesale Corp. For 16 years, American Express had the only credit card accept by Costco, which is another business magnet. Crosta said the .
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