American Express Co., the biggest U.S. credit-card issuer by purchases, dropped the most in a year after Wall Street analysts said a European Union proposal would cut profits. Shares pared losses after the company said the impact would be limited.
Discover Financial Services, the second-best performer among 81 U.S. financial firms this year, climbed 3.9 percent to a record high and EBay Inc. shares also advanced after announcing a payment-processing deal.
U.S. stocks fell, after a two-day advance in the Standard & Poor’s 500 Index, as corporate earnings reports disappointed and European policy makers warned the euro’s advance could hamper the region’s recovery.
MasterCard Inc., the world’s second- biggest payments network, said fourth-quarter profit climbed 24 percent as spending with credit and debit cards increased. The shares rose the most in three months.
Xavier Rolet , the chief executive officer of London Stock Exchange Group Plc, has started overhauling the 209-year-old bourse’s technology, stemmed a slide in market share and helped spur a rebound in the stock -- all in less than two years on the job.
Discover Financial Services, the credit-card lender that struck a partnership with EBay Inc.’s PayPal unit, posted a fiscal third-quarter profit that beat Wall Street estimates as fewer loans soured. The stock jumped.
NYSE Euronext expects an “intense” and lengthy European Union antitrust review of its proposed $9.53 billion takeover by Deutsche Boerse AG , a deal that would create the largest equities and derivatives markets owner, the company’s deputy chief executive officer said.
American Express Co. , the biggest credit-card issuer by purchases, may say second-quarter income almost tripled as card spending increased more than the company anticipated and fewer borrowers defaulted.