(Updated with final stock prices moves throughout.)Financial stocks ended mixed Friday, with American Express ( AXP) reversing early losses to finish higher following its second-quarter earnings report. After Thursday's close, AmEx said that excluding the Troubled Asset relief Program repayment, second-quarter earnings would have totaled 27 cents a share, beating consensus estimates by a penny. However, the company said net loans charged off in its U.S. card member business totaled 10% in the latest quarter, up from 8.5% in the first quarter and 5.3% a year ago. However, AmEx said it now expects charge-off rates in the unit to be below 10% for the second half of the year, which is lower than that outlook offered earlier in the year, and shares climbed 6 cents, or 0.2%, to finish at $29.51. On the other hand, bank stocks were the worst performers, led by a 3.3% drop in Wells Fargo ( WFC). Also among the losers, Citigroup ( C) and Bank of America ( BAC) each lost 1.4%, and JPMorgan Chase ( JPM) slipped 0.6%. Among analyst moves, Citigroup upgraded E*Trade Financial ( ETFC) to hold from sell, and the firm downgraded Charles Schwab ( SCHW) to hold from buy, cutting the price target to $18 from $20. Late Wednesday, E*Trade reported a second-quarter loss of 22 cents a share, better than the Thomson Reuters consensus for a loss of 31 cents a share. On the other hand, Charles Schwab said last week that profit fell 31% from the year-ago period to $205 million, or 18 cents a share, matching analysts' expectations. E*Trade shares ended unchanged at $1.42, while Schwab shares dropped 3.7% to close at $16.60.