American Express: Financial Winners & Losers
NEW YORK (
) -- Financial stocks swayed Monday as concerns turned to retail sales on "Cyber Monday" as well uncertainty regarding Ireland's $113 billion bailout package and the latest measures to rescue the European debt crisis.
The
Financial Select Sector SPDR
(XLF)
, after rising for most of the morning, was stuck in first gear at last check. The index, which tracks the financial sector, was rising 0.3% to $14.46.
As consumers continued their Black Friday holiday shopping online Monday, shares of the big credit card networks had mixed results.
American Express
(AXP)
shares rose 0.7% to $42.55.
However,
MasterCard
(MA)
and
Visa
TheStreet Recommends
(V)
spent much of the day in the red. MasterCard shares fell 0.7% to $233.40; Visa shares dropped 2.7% to $73.46, while
Discover
(DFS)
shares fell 0.9% to $18.25.
Big bank stocks moved marginally higher, with
Bank of America
(BAC)
and
Wells Fargo
(WFC)
, gaining the most ground. Wells Fargo shares rose 1.2% to $26.98. Bank of America shares were up 1.4% to $11.28.
Online brokerage stocks saw movement on Monday following the announcement by
OptionsXpress
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that it would return $259 million to shareholders in the form of a special dividend next month. OptionsXpress shares jumped as high as 10% early in the day, hitting a new 52-week-high of $18.67, but retreated as the day went on. The stock was rising 2.2% to $17.31 at last check.
Meanwhile shares of the three largest online brokerage firms were in the red.
TD Ameritrade
(AMTD)
shares fell 1.8% to $16.91.
E*Trade
(ETFC)
shares fell 0.5% to $14.76, as
Charles Schwab
(SCHW)
shares dropped 1.3% to $14.86.
-- Written by Laurie Kulikowski in New York.
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Laurie Kulikowski
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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
